MTR Foods to invest Rs 200 cr in 3-5 yrs to scale up mfg

MTR Foods today said it will invest about Rs 200 crore in the next three to five years to scale up its manufacturing infrastructure.

The company also announced the opening of its new e-commerce platform, which will give consumers access to its entire range of products.

"Another big thing that we are doing is around operations and manufacturing, which is really in preparation for the future. If we have to grow... we will need additional capacity, we will need additional investment," MTR Foods CEO Sanjay Sharma told reporters here.

"We have put together a plan internally, based on our growth plans, to invest close to about Rs 200 crore in the next three to five years.

"This will be on increasing our capacity from close to about 45,000 tonnes to about 72,000 tonnes with state-of-the- art equipment and high quality infrastructure," he said.

In 2007, Norwegian conglomerate Orkla took over MTR Foods, which has been serving authentic Indian food for about 90 years.

Stating that MTR's capacity was about 18-20,000 tonnes when Orkla took over, Sharma said since then "we have doubled it." "We have invested close to about Rs 220 crore just in capital investment and improving the standards of the factory, and took the capacity to about 45,000 tonnes," he added.

The company has a facility at Bommasandra in Bengaluru.

MTR today has a size of about Rs 700 crore with a compounded annual growth rate of 18 per cent. It has over 140 products.

"We have very high expectations out of MTR, we expect touching close to Rs 2,000 crore as we go ahead into 2020," he said.

Pointing out that MTR has retained number one position in all categories it serves, the company officials said exports form about 10 per cent of the business.