Emami Group is now aiming for revenue of INR 15,000 cr from its agrotech venture after recent investment in the spices business in the coming years. The group’s current value is estimated at INR 12,000 cr and the majority of it comes from edible oil.
The director of the group, Aditya Agarwal introduced the company’s new arm, Emami Healthy & Tasty Mantra which incorporates the masala business and will help boost the company’s agrotech business. Furthermore, Emami also aims at being among the top-three players in the spice market by 2024. Elaborating more on this plan, Agarwal said, “We are looking at Rs 1,200crore to Rs 1,500crore business in the next five years in spices.” Currently, the biggest player in the spices business, nationally, is Everest. There are other big players that capture the regional markets of North and West.
The company’s revenue from edible oil stands strong at INR 5,500-6,000 cr with Best Choice contributing INR 4,000 cr.
In West Bengal, ‘Cookme’ and ‘Sunrise’ are the big players whereas ‘Ashok’ controls the northern market. Emami has only launched five spices, five masalas and three tastemakers as of now and they are only available in West Bengal. The growth of packet spices market in Bengal is at 25%, a bit higher when compared to that of the nation’s which stands at 15%.
When it comes to edible oil, Emami has two established brands- 'Healthy & Tasty’ and ‘Best Choice’ which has products ranging from mustard oil, rice-bran oil to sunflower and soyabean oil. The company’s revenue from edible oil stands strong at INR 5,500-6,000 cr with Best Choice contributing INR 4,000 cr. The edible oil market is controlled by Adani Wilmar with the company’s revenue being INR 40,000 cr. Adani has replaced Ruchi Soya who used to be a big player nationally.
The group’s future plans include investment of INR 700 cr for expanding the capacity of edible oil refining. The company is also planning for increasing its total capacity from 6,000 tonne per day to 10,000 tonne per day.