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Britannia to lauch 50 new innovative products this year

Wednesday, August 08, 2018

Britannia Industries Ltd, which produces 1.2 billion tonnes of biscuits per year, aims to launch 50 new innovative products this year.

There was no innovations since the last 10 years. Last year we introduced Deuce, which is doing very well. We are aiming for leadership through innovation,” said  Varun Berry,  managing director, Britannia Industries Ltd. on the occasion of Britannia's centenary year celebrations and AGM in Kolkata. The company also launched its new logo at the event.

The company is also looking to increase the top line from its non-biscuits business to 50%, without compromising on the buscuit business. Britannia Industries Ltd, which earns 70% of its revenue from biscuits segment, would gradually increase the pie of non-biscuits category by going into new product launches. We want to take this ratio to 50:50 without sacrificing the biscuits business by expansion of capacity, Berry said.

The company proposed splitting of stock and issue of bonus debentures subject to necessary approvals. Berry said that Britannia would grow organically and also be on the lookout at opportunities for acquisitions, adding the company was 'aiming for the top spot' in the foods business.

Regarding the dairy business, he said that investments would be made in the back-end to control the supply chain. Berry said that Ranjangaon plant would be commercialised in the next couple of months, while the Mundra one was also operational. On the Nepal plant, an official said that Britannia had already acquired market leadership. Berry added that Britannia aims to have control over the Indian sub-continent and Africa.

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