Kolkata-based biscuits maker SAJ Food Products, renowned for its flagship brand Bisk Farm, has set its sights on achieving INR 5,000 crore in revenues by FY29. A top official from the company has revealed that they are considering the option of going public around that time. Currently, a significant portion of the company’s sales, approximately 80 percent, stems from the Eastern market. This success has spurred the company’s expansion efforts to further enhance its operations.
According to the Managing Director of SAJ Food Products, Vijay Singh, the company is currently in the midst of constructing a plant worth INR 100 crore in Guwahati. This new facility is anticipated to boast a monthly production capacity of 10,000 tonnes. Upon completion, it will significantly bolster the company’s total installed capacity to
3 lakh tonnes per annum.
At the conclusion of FY23, the company recorded a total revenue of INR 2,100 crore, contributing to a net income of INR 200 crore.
“We have been growing at a compounded 15 per cent since 2020 when we had INR 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 INR 2,100 crore and earn a net income of INR 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 INR 5,000 crore by FY29 by when we also hope to take the company public,” Singh said.
Established in the year 2000 by Bengali entrepreneur Krishnadas Paul at the age of 60, SAJ Food has transitioned its leadership due to unfortunate circumstances. Tragically, Krishnadas Paul passed away in 2020, coinciding with the onset of the first wave of the pandemic. Today, the company is under the guidance of his son, Arpan Paul, who holds the position of Executive Chairman. Additionally, his son-in-law, Vijay Singh, now serves as the Managing Director of the company.
Although its main focus is on biscuits, the company has also diversified its product offerings to include a range of snacks, cakes, cookies, and rusk.
The company operates across six manufacturing plants: four located in West Bengal (two in Siliguri and one each in Uluberia and Dhulagarh), one in Nagpur, Maharashtra, and another in Bengaluru, Karnataka. These facilities collectively contribute to an annual production capacity of 1.80 lakh tonnes.
Additionally, the company is in the process of constructing its seventh plant in Guwahati, the capital of Assam. This venture involves an investment of INR 100 crore and is aimed at achieving an annual output capacity of 1.2 lakh tonnes. The Bengaluru plant, also requiring an investment of INR 100 crore, was successfully commissioned in March 2022.
The category encompassing namkeen and sweets is marketed under the brand name Indiaah by the company.
While SAJ Food Products does engage in exports to regions such as the Middle East, Africa, and Southeast Asia, Singh emphasized that their primary focus remains on the domestic market. This approach is rooted in the understanding that the immense scale of the domestic market cannot be fully tapped into in the foreseeable future. In the fiscal year 2022-23, the company garnered INR 50 crore in revenue from its export endeavors.
