The company nets almost 80 per cent of its sales from the Eastern market and is also expanding its operations
Mumbai: Kolkata-based biscuits maker SAJ Food Products with its flagship brand Bisk Farm aims to have Rs 5,000 crore revenues by FY29 when it may also look at going public, according to a top company official.
The company nets almost 80 per cent of its sales from the Eastern market and is also expanding its operations.
SAJ Food is building a Rs 100 crore plant in Guwahati with a monthly production capacity of 10,000 tonnes, taking its installed capacity to 3 lakh tonnes per annum, the company’s Managing Director Vijay Singh told PTI here on Tuesday.
The company closed FY23 with a top line of Rs 2,100 crore from which it earned Rs 200 crore in net income.
“We have been growing at a compounded 15 per cent since 2020 when we had Rs 1,200 crore revenue. This makes us the fastest-growing brand in the category. We grew 20 per cent in FY23 to clock a top line of Rs 2,100 crore and earn a net income of Rs 200 crore,” Singh said.
Though currently rural demand is almost stagnant, as there is a wage distress in the hinterland markets, Singh said, “we hope to grow better with our geographical expansion away from our key market of the Eastern states from where we fetch almost 80 per cent of sales now”.
“With this in mind, we have set a target of growing our revenue to Rs 5,000 crore by FY29 by when we also hope to take the company public,” Singh said.
SAJ Food, founded by a Bengali entrepreneur Krishnadas Paul in 2000 when he was 60 and passed away in 2020 during the first wave of the pandemic, is now being run by his son Arpan Paul, who is the Executive Chairman and son-in-law Vijay Singh who is the Managing Director.
While primarily into biscuits, the company also has a snacks portfolio apart from cakes, cookies and rusk.
The company has six plants — four in West Bengal (two in Siliguri and one each in Uluberia and Dhulagarh); Nagpur in Maharashtra and Bengaluru in Karnataka — with an annual capacity of 1.80 lakh tonnes.
It is also building the seventh plant in the Assam capital of Guwahati at an investment of Rs 100 crore for a 1.2 lakh tonnes annual output. The Rs 100 crore- Bengaluru plant was commissioned in March 2022.
Its namkeen and sweets category is branded as Indiaah.
Even though it exports to the Middle East, Africa and Southeast Asia, Singh said the focus is the domestic market which is too large to be exhausted in the near term. In FY23 it earned Rs 50 crore from exports.
