FMCG firm Rasna is planning to enter Europe and West Africa as part of an overseas expansion plan and expects contribution of export revenues to total turnover to double to about 40 per cent this fiscal, a senior company official said.
The firm, which is eyeing about Rs 400 crore (Rs 4 billion) turnover this year, currently exports to 35 countries, including Middle East, USA, East and South Africa accounting for 20 per cent of it total sales.
"We plan to set up our presence in markets of Europe and West Africa very soon as they offer strong potential for further export growth," Rasna VP International Operations Girish Jaggi told PTI.
Rasna currently exports to 35 countries, including the Middle East, US, East and South Africa and currently contribute about 20 per cent of Rasna's total revenues of about Rs 325 crore (Rs 3.25 billion).
"However, this year we are strengthening our focus on exports and hope to double the contribution to 40 per cent of revenues," Jaggi added.
The company expects to close the current fiscal at a total turnover of Rs 400 crore (Rs 4 billion). Primarily known as a beverages maker, Rasna also manufactures fruit jams, fruit cordial, tea, pickles, chutneys, pre-cooked ready to eat curries and snacks, which are primarily exported.
While the company's majority of sales in India come from ready-to-drink beverage mixes, it does not sell the food items that are mostly exported.
Asked if the food items could be introduced in domestic market in the near future, Jaggi said it is difficult for a player like Rasna to make a national roll out of products such as pickles, chutneys and ready-to-eat curries, which have very strong regional preferences.
Recently, the company had said that it will foray into the health drinks segment with the launch of a glucose-based powder product, while it also looks to double the reach of its fast food chain 'Devil's Workshop'.
The company, which is currently test marketing the health drink to be branded as 'Rasna Glucose Plus' in Kolkata said it expects to make the national roll-out of the product soon.
