Orkla India, the owner of iconic brands MTR and Eastern, is aggressively eyeing acquisitions and betting on the growing demand for ready-to-eat meals and hyperfast delivery to drive double-digit revenue growth in the coming fiscal years. The company, which merged MTR and Eastern in 2023, aims to return to the double-digit growth levels last seen in fiscal 2023, according to CEO Sanjay Sharma.
Speaking to Reuters, Sharma said the company is evaluating a broad spectrum of acquisition opportunities, ranging from Rs 1–2 crore ($11–22 million) to larger deals, particularly those that resonate with local culinary culture. “We have sufficient cash and the ability to raise more funds if required to pursue strategic deals,” he noted.
Orkla India’s convenience foods portfolio, which includes vermicelli, ready-to-cook breakfast kits, and other instant meals, now contributes 33.4 percent of the company’s revenue, up from 31.5 percent in the previous year. Online channels, including e-commerce and app-based platforms, accounted for 7.5 percent of sales last year, up from 5.1 percent, reflecting a 47 percent year-on-year jump. Hyperfast delivery apps such as Blinkit, Zepto, and Swiggy Instamart have further accelerated adoption of ready-to-eat products, especially in urban markets, despite a broader slowdown in discretionary consumption.
Sharma emphasized that rising disposable incomes and the growing preference for convenience among millennials and dual-income households will continue to fuel the convenience segment, potentially outpacing traditional spice sales. The company is also tracking broader M&A activity in India’s consumer goods space, which has hit a four-year high, including deals like Tilaknagar Industries’ $486 million acquisition of Imperial Blue whisky and Wilmar International’s $832 million stake purchase in AWL Agri Business.
With its combined focus on strategic acquisitions, convenience foods, and rapid digital distribution, Orkla India is positioning itself to capitalize on shifting consumption patterns, ensuring that the merged MTR-Eastern portfolio remains at the forefront of India’s evolving food market.
