Capital Foods Targets A Rs. 500 Cr Revenue This Fiscal Year
Capital Foods, owner of Ching’s Secret noodles and masalas is targeting Rs. 500 crore this financial year and are expecting a 40% increase next fiscal year. Ajay Gupta, Capital Foods Managing Director told Economic Times, “This year we will close at Rs 500 crore and next year we are looking at a turnover of Rs 700 crore. We are growing at a CAGR of 40 per cent.”
The brand is best known for their Ching’s Secret noodles, masalas and sauces as well as the Smith & Jones range of ketchup and ginger garlic paste. Half of the company’s revenues are brought in by the Ching’s Secret masala range of products. “The soup and noodles is peripheral to us. Masalas contribute around Rs 250 crore out of the Rs 500 crore. Masala as a category is going to become Rs 1,000 crore for us in the next three years,” Mr. Gupta added.
Capital Foods is currently present in 11 states, Maharashtra and Gujarat account for 45% of its sales. The brand has plans to enter tier three and four cities in the next two years. The company already has seven facilities and they plan to add two new ones at an investment of Rs. 75 crore. In his conversation with ET, Gupta added that the new facilities would be set up in Panipat and Vapi.
The brand also exports frozen parathas and naan, frozen fruits and others under the brand Swad that caters to the Indian’s living abroad. Their exports contribute about Rs. 70 crore to the overall revenues and they have earmarked Rs. 75 crore for advertising for 2017-18.