Mawana Sugars eyes 80 pc growth in revenue by FY13

MUMBAI, Apr 10: Mawana Sugars is eyeing about 80 per cent growth in revenue by 2012-13 at around Rs 1,800 crore, following its foray into the branded sweetener segment. "We are targeting a revenue growth of 70-80 per cent at Rs 1,700-1,800 crore in FY13 by focusing more in our branded segment and strengthening our product portfolio," Mawana Sugars Managing Director Sunil Kakria told. Mawana Sugars revenue for 2009-10 stood at over Rs 1,000 crore. The company, which has a crushing capacity of 29,000 tonnes per day, is planning to focus on increasing its specialised sugar segment, which is used in making baby food, food, beverage and pharmaceutical. "We are producing 3,00,000 sugar per annum, of which about 1,00,000 tonne is specialised sugar. We now want to focus more on specialised sugar and step up the production to 1,60,000 tonnes in next 2-3 years," he said. At present, out of the 1,00,000 tonne specialised sugar produced, the company supplies 20,00025,000 tonne to pharmaceutical companies, 50,000-60,000 tonne to food and beverage companies and 15,000 tonne for branded sugar. The firm recently launched six varieties of speciality sugar under the brand Mawana Select such as Super White Sugar, Caster Sugar, Icing Sugar, Demerara Sugar, White Sugar Cubes and Demerara Sugar Cubes priced in the range of Rs 88-170. "We have initially introduced Mawana Select in Mumbai. However, we plan to make it available pan India in next one year, beginning with the western region, then slowly expanding to the south, north and then east," Kakria said. Initially, the company will focus on establishing the brand Mawana Select in the domestic market. "We are targeting to increase the production of branded sugar to about 20,000-25,000 tonne annually by FY13," Kakria added. At present, in the domestic market the total sugar consumption is around 23 lakh tonne, out of which only 1 per cent is branded sugar. Mawana Sugar has three manufacturing units located in Uttar Pradesh, the second largest sugarcane producer in the country after Maharashtra. (PTI) )