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NRIPage | Articles | Heritage Foods Aims for ₹700 Crore Revenue from Ice Cream Business in Five Years | Get Business News. Grow and Thrive in the Modern Market around the world - NRI Page
Heritage Foods Ltd. has ambitious plans to elevate its ice cream business revenue to ₹700 crore over the next five years, as stated by CEO Srideep M Kesavan. This growth strategy is anchored by the establishment of a new manufacturing plant in Telangana, which aims to enhance production capacity significantly. Kesavan emphasized that this investment will enable the company to ramp up its annual revenue from approximately ₹110-120 crore to an impressive ₹650-700 crore.
Highlighting the market potential, Kesavan noted that India's ice cream sector has barely scratched the surface in terms of retail penetration. With only about 3.4 to 4 lakh outlets currently selling ice cream, there exists a vast opportunity for growth, as impulsive category retail penetration is estimated to be around 3.5 to 4 million outlets. This indicates that only 10% of the potential retail space is currently utilized by ice cream products, offering tremendous headroom for expansion.
Heritage Foods expects the new plant to be operational by the third quarter of 2025, with a target for the production line to be fully utilized within four to five years. The company plans to finalize a significant portion of its investment in the Telangana facility by October next year.
Additionally, Kesavan mentioned that the new plant will allow for the production of innovative dairy products that the company cannot currently manufacture. Since its inception in 1992 by Andhra Pradesh Chief Minister N. Chandrababu Naidu, Heritage Foods has established a robust presence in the southern retail market, and this new venture marks a pivotal step towards its future growth.
