Anmol Industries eyes Rs 2000 crore turnover by 2020

Kolkata-based FMCG major, Anmol Industries said that though biscuits industry remains revenue neutral in the new taxation regime, the company was moving ahead for pan India presence by the current fiscal ending March 18.

Bimal Kumar Choudhary, MD, Anmol Industries, said, "Goods and services tax is revenue neutral for the biscuits industry. We are going ahead with plans to have our footprint in West and South India by this fiscal to have pan India presence."

The company said they are currently restricted in the east and northern markets of the country and enjoys 7% market share in these markets.

Ranendra Nath Ojha, Chief Marketing Officer, Anmol Industries, said, "We have 7% market share in the markets we are operating but on national ranking we are fourth with 4.8 per cent of share in the Rs 28000 crore industry."

The company plans to foray into Andhra Pradesh, Telegana, Maharashtra and Karnataka states in the next few months.

The company that began its journey in 1994 from Dankuni in West Bengal, now has 7 plants with the latest one in Bhubaneswar in Odhisa ramping its production capacity to three lakh tonne per month.

Ojha said, "The Rs 135 crore plant in Odisha will help us to expand in the state and foray into southern states."

Choudhary said, "The company was targeting Rs 2000 crore turnover by 2020. The company did not ruled out an initial public offer in future."