Candytoy Corporate, a prominent manufacturer of candy toys, has teamed up with Reliance Retail to supply confectionery toys to 1,400 of the retailer’s stores, announced a senior company official. The Indore-based firm signed the agreement with Reliance Retail a few months ago, according to Founder Director Gaurav Mirchandani.
Growth͏͏ Plans:
“We͏͏ currently͏͏ have͏͏ a͏͏ purchase͏͏ order͏͏ for͏͏ over͏͏ 15͏͏ outlets͏͏ that͏͏ are͏͏ live,͏͏ with͏͏ 200͏͏ outlets͏͏ expected͏͏ to͏͏ go͏͏ live͏͏ by͏͏ the͏͏ end͏͏ of͏͏ Diwali,͏͏ and͏͏ 1,400͏͏ outlets͏͏ set͏͏ to͏͏ be͏͏ operational͏͏ by͏͏ the͏͏ end͏͏ of͏͏ this͏͏ financial͏͏ year,”͏͏ Mirchandani͏͏ stated.
When͏͏ inquired͏͏ about͏͏ the͏͏ order͏͏ size,͏͏ he͏͏ mentioned͏͏ that͏͏ it͏͏ would͏͏ have͏͏ a͏͏ run͏͏ rate͏͏ of͏͏ INR͏͏ 2͏͏ crore͏͏ per͏͏ month͏͏ from͏͏ 200͏͏ Reliance͏͏ Retail͏͏ stores,͏͏ which͏͏ is͏͏ expected͏͏ to͏͏ increase͏͏ to͏͏ INR͏͏ 4͏͏ to͏͏ 4.5͏͏ crore͏͏ per͏͏ month͏͏ by͏͏ the͏͏ end͏͏ of͏͏ this͏͏ fiscal͏͏ year.
“We͏͏ offer͏͏ over͏͏ 75͏͏ SKUs͏͏ in͏͏ the͏͏ sweets͏͏ and͏͏ savoury͏͏ flavours͏͏ category͏͏ of͏͏ candy͏͏ that͏͏ we͏͏ supply͏͏ to͏͏ Reliance͏͏ Retail,”͏͏ he͏͏ stated.
Continue͏͏ Exploring:͏͏ Reliance Retail expects͏͏ 2x͏͏ growth͏͏ in͏͏ revenues͏͏ and͏͏ EBITDA͏͏ over͏͏ the͏͏ next͏͏ 3-4͏͏ years
Candytoy Corporate’s͏͏ Global͏͏ Reach͏͏ and͏͏ Future͏͏ Expansion:
Candytoy͏͏ Corporate͏͏ (CTC),͏͏ valued͏͏ at͏͏ nearly͏͏ INR͏͏ 1,000͏͏ crore,͏͏ supplies͏͏ its͏͏ products͏͏ to͏͏ retailers͏͏ in͏͏ 40͏͏ countries͏͏ worldwide.
It͏͏ also͏͏ intends͏͏ to͏͏ divest͏͏ approximately͏͏ 10͏͏ per͏͏ cent͏͏ of͏͏ its͏͏ equity͏͏ to͏͏ finance͏͏ future͏͏ expansion͏͏ plans͏͏ and͏͏ is͏͏ considering͏͏ an͏͏ IPO͏͏ within͏͏ the͏͏ next͏͏ 2-3͏͏ years.
CTC͏͏ is͏͏ a͏͏ global͏͏ manufacturer͏͏ of͏͏ promotional͏͏ toys͏͏ and͏͏ confectionery͏͏ products,͏͏ operating͏͏ five͏͏ plants͏͏ and͏͏ 11͏͏ contract͏͏ manufacturers,͏͏ and͏͏ supplying͏͏ to͏͏ 40͏͏ countries͏͏ across͏͏ three͏͏ continents.
When͏͏ asked͏͏ about͏͏ the͏͏ company’s͏͏ revenue,͏͏ Mirchandani͏͏ stated,͏͏ “We͏͏ anticipate͏͏ closing͏͏ this͏͏ fiscal͏͏ year͏͏ with͏͏ revenues͏͏ between͏͏ INR͏͏ 260͏͏ crore͏͏ and͏͏ 280͏͏ crore.͏͏ For͏͏ the͏͏ next͏͏ fiscal͏͏ year,͏͏ we͏͏ expect͏͏ to͏͏ close͏͏ at͏͏ INR͏͏ 400͏͏ crore͏͏ to͏͏ 450͏͏ crore.”
CTC͏͏ produces͏͏ candy͏͏ toys͏͏ for͏͏ a͏͏ variety͏͏ of͏͏ companies,͏͏ including͏͏ Colgate͏͏ Palmolive,͏͏ Puma,͏͏ MTR,͏͏ Bournvita,͏͏ Yellow͏͏ Diamonds,͏͏ Vistara͏͏ Airlines,͏͏ and͏͏ AirAsia,͏͏ among͏͏ others.
“We͏͏ already͏͏ have͏͏ the͏͏ purchase͏͏ orders͏͏ in͏͏ place,͏͏ but͏͏ we͏͏ need͏͏ time͏͏ to͏͏ deploy͏͏ them,͏͏ which͏͏ involves͏͏ opening͏͏ new͏͏ moulds͏͏ and͏͏ facilities,͏͏ among͏͏ other͏͏ preparations.͏͏ That’s͏͏ why͏͏ the͏͏ results͏͏ will͏͏ be͏͏ visible͏͏ in͏͏ the͏͏ next͏͏ financial͏͏ year,”͏͏ he͏͏ added.
This͏͏ fiscal͏͏ year,͏͏ CTC͏͏ anticipates͏͏ generating͏͏ approximately͏͏ INR͏͏ 120͏͏ crore͏͏ from͏͏ export͏͏ markets͏͏ and͏͏ INR͏͏ 200͏͏ crore͏͏ from͏͏ the͏͏ domestic͏͏ market,͏͏ which͏͏ includes͏͏ its͏͏ B2C͏͏ sales͏͏ and͏͏ channel͏͏ partners,͏͏ he͏͏ stated.
When͏͏ asked͏͏ about͏͏ raising͏͏ funds,͏͏ Mirchandani͏͏ remarked,͏͏ “We͏͏ are͏͏ currently͏͏ in͏͏ discussions͏͏ with͏͏ several͏͏ large͏͏ investors.”
IPO͏͏ Considerations͏͏ on͏͏ the͏͏ Horizon:
Regarding͏͏ the͏͏ IPO,͏͏ he͏͏ stated,͏͏ “After͏͏ the͏͏ conclusion͏͏ of͏͏ the͏͏ financial͏͏ year͏͏ 2026-27,͏͏ we͏͏ will͏͏ explore͏͏ the͏͏ possibilities͏͏ of͏͏ going͏͏ public͏͏ within͏͏ the͏͏ next͏͏ two͏͏ years.”
Overall,͏͏ CTC͏͏ manufacturers͏͏ in͏͏ India͏͏ produce͏͏ a͏͏ variety͏͏ of͏͏ promotional͏͏ toys,͏͏ including͏͏ candy͏͏ toys,͏͏ Barbie͏͏ dolls,͏͏ electronic͏͏ toys,͏͏ DIY͏͏ toys,͏͏ LED͏͏ toys,͏͏ musical͏͏ toys,͏͏ prank͏͏ toys,͏͏ sticky͏͏ toys,͏͏ and͏͏ more.
