“We are a very big brand and have an excellent reach, but our product is mass market and thus the revenue that is generated is still relatively low,” said Khaitan.
However, Khaitan expects the current turnover of around Rs 15 billion to double in the next four years as the company has taken a conscious decision to enter only those categories where the annual growth rate is between 10 per cent and 20 per cent, providing the company enough scope to expand.
“If we are able to double our turnover in the next four years, it would take the company into a different league in terms of profitability and balance sheet position. The potential of the categories we have entered or are entering can help us dream big,” Khaitan said.
His plan is to increase the current 10 per cent “blended margin” of the company to around 13-14 per cent in a three-year timeframe and increase the turnover, which has stagnated over the last few years.
The recently announced brand, Jollies, which marks the company’s maiden foray into the mainstream FMCG space, will become the umbrella brand for the confectionary line of business the company has lined up.