Radikal Rice, India’s leading domestic and international players in the premium basmati rice sector, aggressively plans to garner a significant market share in the domestic and international market with it’s ‘Radikally’ pure and ‘Radikally’ fit grains for people of all ages and tastes, across the world.
The company already commands a substantial market share in the Indian rice market and has plans invest approx. Rs 600 crore for this expansion. The company is eyeing a turnover of Rs 1,000 crore by 2014. The company’s revenue has gone up from Rs 350 crore in 2011-12 to an estimated Rs 550 crore in 2012-13.
Radikal will continue to invest in existing product portfolio and distribution capabilities while accelerating investment in capacities to provide consumers a wide product range. The company has stepped up its capacity at its state -of -the -art rice milling plant in Garh Mukhteshwar, UP, from an annual production capacity of 2,00,000 metric tons to 4,80,000 metric tonnes.
Speaking on the expansion, Mr. Siddharth Chaudhary, Managing Director, Radikal Overseas said, “Radikal’s growth in the rice industry has been significant. We are eying for a larger market share and aim for a Numero Uno position in the domestic and international market. We are looking to expand our processing capacities apart from strengthening our presence through strong retail and distribution.”
Detailing out the roll out plan in retail, he further added, “Retailed extensively, Radikal is found in almost every kitchen, from top- notch restaurants to homes. In India, Radikal is among the top two in volumes in Modern trade with presence across 2000 stores such as Reliance, Big Bazaar, Spencers, More, Vishal and other leading retail chains pan India. The company aims in moving aggressively in general trade with 110 distributors with the reach of approx. 1,00,000 kirana stores”
On the export front, he said, “Radikal has reached over 35 countries and is aiming to increase its presence to 65 by end-2013. Recently, it has strengthened its presence globally by introducing its premium basmati rice in the UAE market. In UAE market alone, it is planning to export around 8,000 tonnes of basmati rice to the emirates booming food market this year. Radikal has already started exporting into the European and far western countries. The company is also proud to be the exclusive supplier to some of the leading airlines and hotels of the world.”
He further added, “Our sole objective is to bring to our consumers a healthy way of life through unparalleled quality and product innovation. At Radikal, we strive to produce rice that can enhance overall experience of indulgence with enhanced nutritive value that can inspire a healthy life. In a truly Radikal way, our rationale is to serve offerings of healthy rice and provide a wholesome and healthy culinary experience. Today we have products which have huge market acceptance by customers.”
The company expects the sales to grow multiple folds over the next five years and figure among the top 5 rice brands across the world.