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.
On Monday (August 7), Tyson Foods fell short of the revenue and profit projections set by Wall Street for the third quarter. This was primarily due to declining prices of chicken and pork, along with a decrease in demand for their beef products, which negatively impacted their financial performance.
In its latest effort to cut expenses, the company has announced the closure of an additional four chicken plants across the United States. This decision has caused the company’s shares to drop by nearly 6% in premarket trading.
Facing diminished profits and a decrease in consumer demand resulting from inflation and elevated interest rates, Tyson has already taken measures such as eliminating corporate positions and closing various chicken facilities earlier this year.
In an attempt to counter the escalating expenses related to feed and labor, the company raised its prices in the previous year. However, in 2023, it has encountered challenges due to reduced prices in essential protein categories like pork. Additionally, the company has faced difficulties in projecting sales and previously acknowledged that decreased demand for beef has posed obstacles in transferring increased costs to consumers.
“Chicken, beef and pork all face different types of macro and market challenges,” Chief Financial Officer John R. Tyson said in an interview. “That’s persisted for a little while.”
Quarterly net sales declined by 3% to reach $13.14 billion, which fell short of the projected $13.59 billion as per Refinitiv data. The company witnessed a 16.4% decrease in average sales prices for pork, a 5.5% decline for chicken, and a 5.2% increase for beef.
“Domestic consumers continue to look for lower-cost protein alternatives, trading down from higher-cost proteins like pork or reducing overall protein consumption,” agricultural lender Rabobank said in July.
Tyson anticipates the cessation of operations at the chicken plants to occur within the initial two quarters of its fiscal year 2024. The company projects incurring charges ranging between $300 million and $400 million as a result of these closures.
Tyson wrongly predicted last year that demand for chicken would be strong at supermarkets in November and December, Chief Executive Donnie King said in February. In January, the company replaced the president of its poultry business.
In the beef business, Tyson faces reduced profit margins as a diminishing U.S. cattle herd forces packers to pay more for livestock. Lingering drought conditions limit the amount of pasture available for grazing.
Net losses attributable to Tyson were $417 million, or $1.18 per share, in the reported quarter, compared with a net income of $750 million, or $2.07 per share, a year earlier. On an adjusted basis, the company earned 15 cents per share in the quarter ended July 1.
The charming and lively modern rendition of Bombay Sweet Shop (Hunger Inc. Hospitality) has brought together the essence of a traditional mithai shop and the flair of a stylish Dessert Bar to the vibrant neighborhood of Bandra in Mumbai.
In the present day, the traditional image of a mithai shop has undergone a remarkable transformation, breaking free from its conventional constraints. It has embraced a fresh and modern outlook, seamlessly fusing elements of the past and the present. At Bombay Sweet Shop, anticipate delightful surprises in the form of inventive, entirely vegetarian sweets and savories that cater to a wide range of moments – be it a quick afternoon bite or indulging late-night desires.
Bombay Sweet Shop boasts a collection of imaginative, reinvented Indian sweets, featuring unique flavor pairings crafted with originality.
The sweets come in a myriad of colors, beautifully contrasting against the backdrop of navy blue and sunshine yellow. The inviting mustard yellow terrazzo-inspired flooring, along with timber accents, shelves, and emerald green seating, creates an interior that is not just visually appealing but also reminiscent of a delicious treat. An exquisite chandelier, resembling monochrome bulls-eye candies, takes the spotlight as the centerpiece of the sweet shop, hanging elegantly from the ceiling. The attention-grabbing gifting corner showcases an array of packaging options and gift bags, all set to elevate your gifting endeavors. The transparent glass façade is adorned with elements of Indian design, warmly inviting passers-by to step in and explore the store’s enchanting array of offerings. Collaborating with Shonan Purie Trehan, Founder & Principal Architect at L.A.B (Language Architecture Body), Hunger Inc. Hospitality has masterfully brought this space to vibrant life!
Guided by a dedicated group of experts hailing from various corners of the nation, united by their passion for culinary excellence and a shared determination to redefine the dining experience in India, the Bandra outpost of Bombay Sweet Shop stands as Hunger Inc. Hospitality’s delightful creation. At the helm of this endeavor is Chief Mithaiwala Girish Nayak, a seasoned professional boasting nearly two decades of experience, alongside a profound affection and inquisitiveness for the heritage of Indian mithai. The heart of Hunger Inc.’s team consists of Sameer Seth, the Founder & CEO, and Yash Bhanage, the Founder & COO, who together bring their visionary leadership to the forefront.
Tata Consumer Products (TCP), a prominent figure in the retail sector, bringing together the varied culinary and beverage pursuits of the Tata Group, has now made its foray into the thriving premium category of Cold Pressed Oils. Operating under its renowned label ‘Tata Simply Better,’ the firm is introducing a selection of entirely pure and untouched cold-pressed oils.
The rise in the appeal of cold-pressed oils can be credited to their numerous health benefits and unique taste characteristics. Tata Simply Better Cold Pressed Oils are carefully derived through advanced Cold Pressed technology, a method that pays homage to traditional oil extraction techniques. This guarantees the preservation of essential nutrients, a delightful aroma, and an authentic flavor profile. The resulting edible oils are perfect for daily cooking pursuits.
Deepika Bhan, President of Packaged Foods- India at Tata Consumer Products, expressed, “We are excited to introduce Tata Simply Better Cold Pressed Oils, a stride towards revolutionizing how consumers approach their cooking routines. Venturing into this category, we aim to redefine norms and positively influence consumers’ choices for their well-being. Recognizing the escalating demand for nourishing alternatives, we aspire to offer an exceptional range of edible oils that not only contribute to overall health but also elevate the taste of daily meals. Tata Simply Better Cold Pressed Oils epitomize our commitment to quality and purity, making them an indispensable addition to every household. This strategic launch not only bolsters Tata Consumer Products’ stature as a prominent F&B enterprise but also enriches our portfolio by presenting consumers with reliable, nourishing options they can embrace.”
Tata Simply Better Cold Pressed Oils originate from carefully chosen A1 Grade Ingredients, ensuring a commitment to superior quality and uniformity.
Tata Simply Better had previously entered the domain of plant-based offerings by introducing its range of plant-based protein products. This move highlights Tata Consumer Products’ unwavering commitment to offering high-quality items that resonate with changing consumer choices. The debut of Tata Simply Better Cold Pressed Oils marks another significant achievement for the company, further solidifying its pledge to provide products that cater to consumers’ ever-changing needs, all for the better.
The Tata Simply Better Cold Pressed Oils, meticulously fashioned from entirely pure and unprocessed ingredients, are readily available for buying on leading online platforms and the official Tata Simply Better website. These oils come at competitive prices, with a spectrum ranging from INR 325 to INR 699, making them accessible to a diverse array of consumers.
The Campbell Soup Company has recently made a deal to purchase Sovos Brands at a rate of $23 per share in cash. This acquisition translates to an overall enterprise value of around $2.7 billion.
Among the brands under Sovos Brands’ umbrella are Rao’s, Michael Angelo’s, and Noosa. Their product range encompasses items like pasta sauces, dry pasta, soups, frozen entrées, frozen pizza, and yogurts.
The purchase will introduce a collection of “high-growth, market-leading premium brands” to Campbell’s division focused on meals and beverages.
Campbell’s president and CEO, Mark Clouse, said, “We’re thrilled to add the most compelling growth story in the food industry and welcome the talented employees who have built a nearly $1 billion portfolio”.
He added, “This acquisition fits perfectly with and accelerates our strategy of focusing on one geography, two divisions and select key categories that we know well. Our focused strategy has enabled us to deliver strong results over the last five years, enhance our brands and capabilities, and generate strong cash flow to lower debt.
“With all this progress, I am confident in our readiness to execute and integrate this important acquisition. The Sovos Brands portfolio strengthens and diversifies our meals and beverages division and paired with our faster-growing and differentiated snacks division, makes Campbell one of the most dependable, growth-oriented names in food.”
Todd Lachman, Founder, President and Chief Executive Officer of Sovos Brands, commented: “We have built a one-of-a-kind, high growth food company focused on taste-led products across a portfolio of premium brands, anchored by the Rao’s brand. As one of the most trusted and respected food companies in North America, I’m confident in Campbell’s ability to continue bringing our products to more households and further building on our track record of growth and success for years to come.”
Campbell intends to fund the acquisition cost by issuing new debt. The completion of the deal is contingent upon the approval of Sovos Brands’ shareholders and standard closing prerequisites, including regulatory endorsements. The anticipated closing date is projected to be at the conclusion of December 2023.
Kommunity Brew, a functional beverage company located in Western Australia, has successfully acquired the Cool Cool Beverage Company (CCBC) based in Melbourne.
Through this acquisition, Kommunity Brew has expanded its portfolio by incorporating the Sips Sparkling and Liberty Kombucha brands. This move also grants the company immediate export possibilities by utilizing the shelf-stable product range of Sips Sparkling.
Mason Bagios, the CEO of Kommunity Brew, stated that the decision to acquire CCBC was motivated by several key factors. These factors encompass CCBC’s Melbourne headquarters, its well-established distribution network that includes valuable partnerships with Coles, Woolworths, and Amazon, as well as the strategic entry it provides into the sparkling water sector.
Bagios said, “The integration of CCBC into our business is a major milestone in the evolution of Kommunity Brew, putting us in a strong position to increase our profile in the Eastern States, while improving operating margins from a Melbourne manufacturing base”.
He explained that the Sips Sparkling and Liberty Kombucha brands and values are “very much aligned” with those of Kommunity Brew, represented in their quality, local manufacturing, “unique” recipes and “smooth processes”.
In the announcement unveiling the acquisition, Kommunity Brew expressed its alignment with CCBC’s narrative of “modest origins.” Bagois further emphasized the challenging nature of crafting beverage brands, underscoring how their originators frequently showcase remarkable ingenuity and creativity.
“CCBC has developed innovative products that have all had a bedrock of creativity. We love the bold positioning of the Sips Sparkling and Liberty Kombucha brands and because we relate to the difficulty of brand-building we see value where an institutional investor might see risk,” he explained.
The recent acquisition is Kommunity Brew’s second. The company purchased the Cold Matter Cold Brew brand in 2022 from the founders of Black Matter Coffee Roasters.
In today’s digital age, technology has revolutionized almost every aspect of our lives, including the way we dine out and provide feedback to restaurants. Traditional methods of customer feedback, such as suggestion boxes and comment cards, have now been replaced with innovative and efficient systems that leverage the power of technology.
Customer feedback systems in restaurants are designed to capture the opinions, experiences, and suggestions of diners. These systems serve as valuable tools for gathering insights into customer satisfaction, identifying areas of improvement, and enhancing the overall dining experience. Traditional feedback systems include comment cards, suggestion boxes, and in-person feedback forms. However, with the advent of technology, digital feedback systems have gained prominence.
These systems leverage various channels such as online platforms, mobile apps, and social media to allow customers to provide feedback conveniently and in real time. The feedback collected through these systems is crucial for restaurants to understand customer preferences, address concerns, and make informed decisions to deliver exceptional service and culinary experiences.
Strategies to leverage technology for better customer feedback system
1. Adopting Digital Feedback Platforms: Restaurants can implement digital feedback platforms such as dedicated feedback apps or online survey tools to streamline the feedback collection process. These platforms allow customers to provide feedback conveniently through their smartphones or other digital devices.
2. Utilizing Social Media Listening: Restaurants can leverage social media monitoring tools to track and analyze customer feedback and reviews across various platforms. By actively listening to what customers are saying about their experiences, restaurants can gain valuable insights and respond promptly to both positive and negative feedback.
3. Implementing Real-Time Feedback Mechanisms: Technology enables real-time feedback collection, allowing restaurants to receive instant feedback from customers. This can be achieved through interactive tablets at tables, QR codes linked to online surveys, or mobile apps that facilitate immediate feedback submission.
4. Using Analytics and Data Visualization: Advanced analytics tools can help restaurants analyze the vast amounts of feedback data collected. By leveraging data visualization techniques, such as charts and graphs, restaurants can gain actionable insights into customer preferences, trends, and areas requiring improvement.
5. Engaging in Online Reputation Management: Technology allows restaurants to actively manage their online reputation by monitoring review platforms and responding promptly to customer feedback. This involves addressing customer concerns, expressing gratitude for positive reviews, and taking appropriate actions to resolve any issues raised.
6. Personalizing Customer Engagement: Technology enables restaurants to personalize their interactions with customers based on their feedback. By capturing customer preferences and behaviour data, restaurants can tailor their marketing efforts, promotions, and offerings to meet individual customer needs and foster stronger customer relationships.
7. Implementing Customer Relationship Management (CRM) Systems: CRM systems can help restaurants track customer feedback, preferences, and previous interactions, enabling a more personalized approach to customer service. By centralizing customer data, restaurants can provide a seamless and consistent experience across multiple touchpoints.
8. Embracing Artificial Intelligence (AI) and Machine Learning (ML): AI and ML technologies can analyze feedback patterns, sentiment analysis, and customer behaviour data to uncover valuable insights. This can assist restaurants in identifying trends, predicting customer preferences, and optimizing their operations to deliver exceptional dining experiences.
How Modern Customer Feedback systems Provide better Customer Feedback
1. Enhanced Accessibility and Convenience: Technology has made it easier than ever for customers to provide feedback to restaurants. With the rise of smartphones and mobile apps, customers can conveniently share their opinions and experiences in real time. Online platforms, social media, and dedicated feedback apps allow customers to provide feedback instantly and from anywhere, eliminating the need for paper-based forms and physical presence at the restaurant.
2. Improved Data Collection and Analysis: Technology has transformed the way restaurants collect and analyze customer feedback. With digital feedback systems, restaurants can gather vast amounts of data quickly and efficiently. Advanced analytics tools and algorithms can process this data, providing valuable insights into customer preferences, satisfaction levels, and areas of improvement. This data-driven approach enables restaurants to make informed business decisions and tailor their offerings to meet customer demands.
3. Real-Time Response and Issue Resolution: One of the significant advantages of technology in customer feedback systems is the ability to respond to feedback in real-time. Restaurants can promptly acknowledge customer concerns and address issues as they arise, demonstrating their commitment to customer satisfaction. With automated notifications and alerts, restaurant management can be instantly notified of negative feedback, allowing them to take immediate action to rectify the situation and prevent further dissatisfaction.
4. Personalized and Targeted Engagement: Technology enables restaurants to personalize their engagement with customers based on their feedback. By analyzing customer data, restaurants can gain insights into individual preferences and behaviours, allowing them to tailor promotions, offers, and experiences to meet specific customer needs. This personalized approach enhances customer loyalty and drives repeat business.
5. Online Reputation Management: Technology has given rise to online review platforms and social media, where customers can publicly share their experiences with a wider audience. Restaurants now need to actively manage their online reputation by monitoring and responding to reviews and comments. Online reputation management tools allow restaurants to track and analyze online feedback, ensuring they can address both positive and negative reviews promptly.
6. Continuous Improvement and Innovation: With technology-enabled feedback systems, restaurants can adopt a continuous improvement mindset. The availability of real-time data and customer insights enables them to identify trends, patterns, and areas of improvement. Armed with this information, restaurants can make data-driven decisions, refine their processes, and innovate their offerings to stay competitive in the ever-evolving restaurant industry.
Final Thoughts:
The impact of technology on restaurant customer feedback systems has revolutionized the way restaurants collect, analyze, and respond to customer feedback. The adoption of digital platforms, real-time feedback mechanisms, and data analytics tools has enhanced accessibility, convenience, and efficiency in gathering feedback. By embracing technology and leveraging its capabilities, restaurants can elevate their customer feedback systems to new heights, delivering exceptional dining experiences and staying ahead in the competitive food industry.
Kolkata-based packaged snacks and food beverage company Annapurna Swadisht has obtained board approval to raise INR 69.33 crore through a preferential issue of equity shares and warrants, slated for completion by the end of September 2023. The conversion of these warrants into shares can take place in tranches over a span of 18 months from the date of the initial issue.
As per a company-issued press statement, the firm intends to offer the following securities through a preferential approach: this includes 11,00,000 equity shares at a rate of INR 295 per equity share, summing up to INR 32.45 crore, along with 12,50,000 warrants, each exercisable at a price of INR 295 per warrant, collectively amounting to INR 36.88 crore. The ongoing capital raising initiative is taking place within the context of a market capitalization of INR 484.45 crore.
Commenting on the development, Ravi Sarda, Chief Financial Officer, Annapurna Swadisht, said, “The funds raised would be utilised to purchase a strategic asset to expand the manufacturing base in West Bengal to reduce fixed costs, reduction of high-cost debt, and meet the working capital requirements. The utilisation of funds raised in the first tranche will result in savings of around INR 57 lakh per month by way of reduction in interest payment and rentals.”
Annapurna Swadisht made an impressive debut in September 2022 with its initial public offering, raising nearly INR 30.25 crore at a valuation of INR 114.95 crore. The company is now successfully listed on the NSE Emerge platform. Following its IPO, Annapurna Swadisht has been actively expanding its operations, introducing new products, exploring new territories, and increasing production capacities throughout eastern India. Notably, the company has recently ventured into the lucrative market of Uttar Pradesh.
Annapurna Agro Industries, established in 2016, made a significant shift in 2020 by entering the packaged snacks market. Initially, the company focused on serving the Tier III and Tier IV regions in Bihar, Jharkhand, West Bengal, Assam, Odisha, and Uttar Pradesh. Presently, Annapurna Agro Industries boasts an impressive product portfolio of approximately 72 SKUs spanning across 10 diverse categories, including snacks, candies, and cakes. With a robust distribution network, the company has amassed around 520 distributors and over 100 super distributors, ensuring its products reach over 2.5 lakh retail touchpoints.
Sukhbir Singh, the renowned Bollywood singer, has made an undisclosed investment in the Pre-Series A funding phase of Fitspire, a startup focusing on vegan healthcare and personal care products.
The funding round also witnessed involvement from Ashish Chand and Sohil Chand of LC Nueva, Ivor Braganza from Next5 Ventures Oman, Dheeraj Jain from Redcliffe London, the Family Office of Jaipurias (represented by Ruchirans Jaipuria and Anuraag Jaipuria), along with the continued participation of existing investor Amit Singhal.
Established in the year 2020 by Vipen Jain, Fitspire is situated in Delhi and tackles present-day lifestyle challenges by providing nourishing dietary supplements. The company asserts its customer base to exceed 1 million individuals, supported by a community of 10,000 fitness influencers. Prior to this, Fitspire had secured $1 million in earlier seed and bridge funding rounds.
With a track record of multiplying sales by tenfold annually, the startup has established an ambitious goal of achieving INR 300 crore in revenue within the upcoming three years.
The raised capital will be allocated towards enriching the Health and Personal Care (HPC) ecosystem, extending its presence across India and global markets, introducing fresh product offerings, and creating novel avenues for generating revenue.
Following the pandemic, there has been a noticeable increase in the inclination of Indian consumers towards selecting fitness and health supplements. This upsurge has consequently attracted significant investor focus towards startups operating within this domain.
In the earlier part of this year, HealthifyMe secured $30 million during its pre-Series D funding round, spearheaded by LeapFrog Investments and Khosla Ventures. During July, prominent FMCG company Marico announced its intention to procure a controlling interest (58%) in the direct-to-consumer nutrition label Plix, for a sum of INR 369.01 Crores.
Last year saw Wellbeing Nutrition secure $10 million in its Series B funding round, with Hindustan Unilever Limited and Fireside Ventures taking the lead in the investment.
Fitspire states that the market’s astonishing valuation stands at $140 billion, with the nutraceuticals sector accounting for $39 billion of this total. Projections indicate that both segments are anticipated to experience a compounded annual growth rate (CAGR) of 18%.
Parag Milk Foods, a leading dairy company, demonstrated exceptional financial prowess in the first quarter (Q1) ended June 30, 2023. With a remarkable surge in its consolidated profit after tax (PAT), the company’s earnings soared to INR 21.42 crore, effectively doubling its performance compared to the same period in the previous fiscal year. This impressive feat was driven by strong volume growth, reflecting Parag Milk Foods’ commitment to excellence and its ability to capitalize on market opportunities.
According to a BSE filing, the company reported a consolidated PAT of INR 10.25 crore in the corresponding period last year. Such substantial progress highlights the company’s steady trajectory towards financial success and reinforces its position as a major player in the dairy industry.
In Q1 FY24, Parag Milk Foods witnessed a notable rise in its total income, reaching INR 755.72 crore. This marks a significant increase compared to the total income of INR 722.12 crore recorded in Q1 FY23. The surge in total income indicates the company’s ability to generate greater revenues during this period, reflecting its continued growth and positive performance in the market.
In Q1 FY24, the company witnessed a rise in total expenses, reaching INR 740.55 crore, as compared to INR 708.53 crore in the corresponding period of the previous fiscal year.
For the quarter under review, the company’s EBITDA amounted to INR 46.5 crore, showcasing an EBITDA margin of 6.2 per cent.
During the quarter, the dairy FMCG firm emphasized its commitment to core categories such as Ghee and cheese, as well as its new age businesses – Avvatar and Pride of Cows. The company maintained a strong focus on these segments. Additionally, it expressed its intention to continue investing in marketing and brand-building initiatives.
Furthermore, the company engaged in a strategic collaboration with Starplus for IPL integration, leveraging this opportunity as a branding activity for its brand Go Cheese. This move demonstrates the company’s proactive approach to promote its products and enhance its brand visibility in the market.
Going forward, Parag Milk Foods has set its sights on continuing to invest in extensive distribution reach and outlet coverage, coupled with a strong focus on introducing innovative offerings and premiumizing its product portfolio. The company’s strategic approach aims to further strengthen its position in the market and cater to evolving consumer preferences. By pursuing these initiatives, Parag Milk Foods is poised to drive sustainable growth and maintain its status as a prominent player in the dairy industry.
The company stated that the milk procurement prices have entered a stabilization phase, driven by steady demand and an early onset of the flush season. As a result of this favorable situation, the quarter witnessed margin expansion for Parag Milk Foods.
Devendra Shah, Chairman of the company said, “We are pursuing market share gain across categories and investing in various capabilities and retail network expansion. Going forward, on the back of a softening input cost environment and with the onset of the festive demand the growth momentum is expected to accelerate and, we hope to deliver healthy profitability.”
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