Cremica Foods, a well-known brand in the packaged food industry with products like mayonnaise and ketchup, is contemplating an IPO as part of its growth strategy. The company is also eyeing expansion in international markets and aims to increase its manufacturing capacity by almost double by the next fiscal year.
Akshay Bector, the Chairman & Managing Director of Cremica Foods, mentioned that the company is in a crucial phase of its journey and is considering a significant fundraise through an IPO in the upcoming fiscal year. The goal is to propel the company to the next level of growth, with expectations to surpass the ₹500-crore mark by FY27. Despite facing challenges in the macroeconomic environment, the company is on track to achieve a 15% sales growth this fiscal year and anticipates doubling its EBIDTA from the previous year.
In terms of expansion plans, Cremica Foods is enhancing its manufacturing capacities at its plants in Punjab and Himachal Pradesh to nearly double its current capacity by the next fiscal year. This expansion will also facilitate the introduction of new products, particularly in adjacent categories. The company is also planning to venture into the pickles segment soon and is considering expansion into the West Asia and South-East Asian markets.
Furthermore, Cremica Foods is focusing on strengthening its retail presence by aiming to grow its retail footprint to one lakh outlets by next March, with a specific emphasis on smaller cities. The company will continue to explore opportunities to expand its retail network further.
Overall, Cremica Foods is poised for growth and is strategically aligning its business initiatives to capitalize on market opportunities and enhance its presence both domestically and internationally.
