KOLKATA: FMCG major BritanniaBSE 2.23 %Industries would focus mainly on the bakery and dairy businesses to propel growth in the near and long term, according to company chairman Nusli Wadia.
"Our plan is to grow the bakery and dairy businesses", Wadia told shareholders at the company's 94th annual general meeting here today.
"We have serious intentions for our dairy business and going to invest in it", he said.
He said that for that purpose, the company would continue to invest in back-end operations and make substantial spends in advertising.
Wadia said that the company had set up two new units at Patna and Odisha, adding that another greenfield unit would also come up.
Later, managing director of Britannia Vinita Bali said at a news conference that the company had been able to register 92 per cent rise in post-tax profit in the first quarter by dint of better product mix and cost management.
"As the commodity prices have stabilised, we have posted healthy profits", she said.
Bali said that new bakery plant would come up at Gujarat at a cost of Rs 50 crore.
Referring to the dairy business, Bali said that it was very small compared to the bakery business as it contributed only ten per cent of the total revenue. "But the business has a huge potential for growth", Bali said. The business quadrupled in the last five years, she said.
In the organised biscuit sector, Britannia's market share was one-third.