Edible oil firm introduces new brands, targets hotels and rural marketsMarch 21st, 2009 - 6:38 pm ICT by IANS
Chennai, March 21 (IANS) The Rs.60-billion (Rs.6,000 crore) branded edible oil company Adani Wilmar Limited (AWL) is expanding its production and distribution lines and targeting hotels and rural markets, said a top company official.
“With our Fryola, a special oil for frying, and Raag, we will be expanding our presence in these two segments,” Managing Director Pranav Adani told reporters here Saturday.
He said Fryola, a refined palmolein oil with special additives, enables repeated frying which is not possible with other oils.
With Raag, a refined palmolein oil packed in different shop keeping units (SKU), the company is making a foray into the rural markets.
“We hope the rural markets to convert to packaged oil from buying in loose,” Adani said.
While upgrading its Fortune brand edible oils to the premium segment from its earlier positioning of value for money, AWL has launched King’s range of edible oils (Soya, Sunflower, Refined Mustard and Cottonseed oil) in the value for price segment.
“There is no difference in the quality of oils sold under the two brands. We have improved the packaging of Fortune brand oils,” Adani remarked.
Hoping to double its turnover to Rs.120 billion (Rs.12,000 crore) by 2012, the company will be investing around Rs.6 billion (Rs.600 crore) in expanding its production capacity.
“The funding will be a mix of debt, equity and internal accruals,” Adani said.
The Indian edible oil industry is estimated at 13 million tonnes, 20 percent of which will be branded, he added. “Our market share is 19 percent.”
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