Apis India, a homegrown FMCG company, is set to expand its product portfolio in the food segment, with the ambitious goal of reaching a topline of INR 500 crore by the end of the next fiscal year, as revealed by its Managing Director, Amit Anand, on Tuesday. The company is also making strides towards establishing a new manufacturing facility to meet the increasing demand, concurrently investing in branding and marketing initiatives to amplify the visibility of its products in the market.
The listed company, having a presence in the food segment with products like honey, dates, green tea, and breakfast items, is exploring opportunities to diversify its product portfolio and expand its distribution footprint across the country.
The Delhi-based company had reported a revenue of INR 333.66 crore for the financial year that ended on March 31, 2023. The company gets nearly equal contributions from the B2B and B2C businesses.
“There would be a substantial growth this year. We expect our B2C business and exports will grow. Besides, there is a unit in Dubai, UAE which is also rising very fast. We are looking to achieve INR 500 crore by the end of FY 2024-25,” said Anand.
Originally, the company operated in the honey industry and ventured into the FMCG segment seven years ago.
Apis India’s Emphasis on Budget-Friendly Alternatives
Within the highly competitive FMCG industry, known for its aggressive pricing dynamics, Anand is placing his bets on budget-friendly alternatives.
“We are giving a quality product at a reasonable price. We are targeting the middle-class segment and now with the organic range we are going for a niche one,” he said.
According to him, post-pandemic, people have become health conscious and are looking for healthy options.
“We are in the right segments. Dates are very good for the health. Honey is very good for the health,” he said.
Now, the company is planning to expand its organic range and develop new products around this, which he expects will take the company to the “next level”.
Besides, Apis India has plans to expand its distribution network.
“We are targeting to add 25 per cent more distributors,” he said.
The company has a plant at Roorkee, Uttarakhand and is considering opening one more.
“We are looking forward to doing further expansion in our manufacturing facilities by opening up a new avenue,” Anand said.
In line with the product portfolio expansion, Apis India has launched its range of organic honey.
Continue Exploring: Indian FMCG sector eyes robust growth in 2024 amidst favorable market conditions
