Kolkata, Feb 4 (PTI) Ruchi Soya Industries today said it aims to expand the Nutrela brand five-fold to Rs 5,000 crore in the next five years.Stating that Nutrela was a small brand compared to the Ruchi brand which accounted for sale of Rs 7,000-8,000 crore, Ruchi Soya AVP Marketing Sandipan Ghosh said the company wanted to make Nutrela a Rs 5,000 crore brand in the next five years from Rs 1,000-1,200 crore now.
On reports of raids by the Mumbai income tax authorities on the group, the company did not forsee any hurdle towards its growth target. “No,” Ghosh said when asked whether the raids would have any adverse impact on growth. Ghosh said the existing business of Nutrela would grow by around 20 per cent year on year and the company planned to introduce more products.
“Currently, we are carrying out market research to enter new product categories under Nutrela brand,” he said. The brand was currently restricted to soya products, edible oil and margarine. In 2008, the company had made an attempt to foray into beverage from soya but failed to get the desired response. Ghosh said Nutrela offered high EBITA margin of 10-15 per cent for the company among other products.
Launch of TVC and radio Jingle to tap Bengali market; veteran actor Soumitra Chatterjee to sing a jingle for the new campaign.
Ruchi Soya Industries is set to target the West Bengal market with an aggressive marketing campaign for their premium brand, Nutrela Kacchi Ghani Mustard Oil. The state accounts for over a third (around Rs 110 crore) of the Rs 300-crore mustard oil market in the country.
With the intent of reaching out to Bengali masses, the company is also planning to launch a 35-second TVC and a 25-second radio jingle this month. With the campaign, the company aims to create a bridge between the brand and true ‘Bangaliaana’, using a thoroughly Bengali concept, ‘Jagai Bangaliana’, which aims at evoking the authentic taste of food every time they use Nutrela Kacchi Ghani mustard oil.
The idea revolves around reviving and rejuvenating this ‘Bangaliaana’ and brings back the fading Bengali persona and spirit, reminding them of their roots. The campaign largely aims to reawaken authentic taste of Bengali food. It evokes the rich culture and tradition of the state and exhorting the people of Bengal to rediscover the pride of eating authentic Bengali food.
‘Bangaliyana’ is a tradition that has been passed on from one generation to the next in every Bengali family over the past century. It is a way of life as in the weekend ‘adda’, inviting friends and family to the house and discussing music, literature, politics, food, culture, history and then savouring authentic home cooked Bengali cuisine together. ‘Bangaliyana’ is also in celebrating togetherness and appreciation of Rabindrasangeet or Sumoner ‘gaan’ or Bangla ‘natok’ and even discussing Shakespeare, and most importantly how good the food was at the last brunch party.
Strengthening this connect further, the company has roped in veteran Bengali actor Soumitra Chatterjee to sing a jingle for the new radio campaign.
“We are sure that the campaign will rejuvenate the fading spirit of ‘Bangaliyana’ and the need for ‘kacchi ghani’ mustard oil as the predominant cooking medium. We are extremely excited about reviving ‘Bangaliyana’ and more so being able to make Soumitra Chaterjee partake in bringing the idea alive by singing a song for us,” said Sandipan Ghosh, Assistant Vice-President Marketing, Consumer Brands Division, RSIL.
The television and radio campaign has been conceptualized and developed by Hammer Communications in New Delhi.
The TVC and radio campaign will be simultaneously rolled out in Bengal and Assam. The 360 degree clamour marketing campaign is the company’s first campaign centred around the three-year-old mustard oil brand. Bihar and Jharkhand are next in the company’s radar.
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Kolkata: Ruchi Soya Industries is planning to have new products in the health and wellness space to increase sales under its flagship soya food brand Nutrela about five-fold in five years, a company executive said on Monday.
Currently the company under the brand sells edible oil, soya chunks and granules, and table spread. The firm has clocked Rs.1,200 crore sales turnover from the brand.
“We have a target to garner Rs.5,000 crore turnover from the Nutrela brand within the next five years,” Ruchi Soya Industries Ltd assistant vice president, marketing, consumer brands division, Sandipan Ghosh said here.
“We will be aiming for both inorganic and organic growth. We will be growing from existing categories of around 20 to 30 percent and then we will also be expanding into newer category, which will also fuel the growth,” Ghosh said.
He said the newer categories in the health and wellness space would be home-grown and the company was now carrying out a consumer research for that.
“On the basis of the consumer research we are going to decide the potential of the category and potential of our business. As we progress towards second and third quarter of this calendar year, we will see that Nutrela will be expanding into newer category or incrementally innovate into the existing category,” he explained.
The makers of the largest-selling soya food brand enjoys about 90 percent market share in organised soya chunks and granules segment.
The firm, which is currently concentrating on domestic market said it will also focus on expanding its presence in tier III and IV cities.
Ruchi Group of Industries today said it is expecting up to 15 per cent growth in revenue following high crushing, better margins and growth in soya meal exports.
“We are expecting 10-15 per cent growth in sales this fiscal year mainly on account of higher crushing, better margins through product innovations and increase in branded sales. Rise in soya meal exports will also help in boosting our revenue,” Ruchi Group of Industries Managing Director Dinesh Sahara told reporters here. The company’s overall revenue in FY’12 stood at nearly Rs 26,000 crore.
Ruchi Group of Industries, which recently launched margarine, is planning to introduce more healthy options of edible oils in future. About exports, he said the company expects to ship about 1.7-1.8 million tonnes of soya meal compared with 1.5 mt last year.
“We are expecting this rise in exports mainly due to higher global demand as the crops in South America were affected following drought,” he said. On the country’s soyabean production this kharif season, he said it is likely to be a record crop at about 10.5-11 mt and the arrivals will peak in mid-October.
“The late rainfall did not have any major impact either on the crop yield or the size and this is expected to boost the overall soyabean meal exports to about 5 mt this crop year (October-September) from 4.5 mt last year,” Sahara said.
Rape seed or mustard crop is also likely to be 10-15 per cent higher than last year at about 6.5 mt this season mainly due to good rainfall and better soil condition in the producing areas, he said.
Last year, the overall mustard output stood at 5.34 mt. However, due to decline in production of groundnut and cotton seed, the vegetable oil import is likely to be at 9.8 mt this oil year (November-October), which is yet to end. The overall demand, which is also growing at 5 per cent annually, will also add to the rise in imports, he added.
Kolkata, Feb 4 (PTI) Ruchi Soya Industries today said it aims to expand the Nutrela brand five-fold to Rs 5,000 crore in the next five years.Stating that Nutrela was a small brand compared to the Ruchi brand which accounted for sale of Rs 7,000-8,000 crore, Ruchi Soya AVP Marketing Sandipan Ghosh said the company wanted to make Nutrela a Rs 5,000 crore brand in the next five years from Rs 1,000-1,200 crore now.
Industries Ltd assistant vice president, marketing, consumer brands division, Sandipan Ghosh said here.
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