MTR Foods, an instant food manufacturer has lined up an investment of close to Rs 150 crore over the next two years, as part of its target of generating Rs 1,000 crore revenue by 2015.

MTR Foods Chief Executive Officer Sanjay Sharma said, “We continue to make investments. We will be making investments of Rs 100-150 crore in the next two years. We are a profitable company. The funds will be raised through internal accruals.”

During the fiscal (2011-12), the company reported revenues of Rs 350 crore and in this financial year the company is aiming to garner Rs 450-crore revenue.

Launching the new ‘MTR Sambar Masala Podi’, ‘Rasam Podi’ and ‘Kulambu Podi’ exclusively for the Tamil Nadu market. The company hopes to achieve a double-digit share in the masala market in Tamil Nadu valued at Rs 712 crore.

Besides MTR Foods, ‘Aachi Masala’ and ‘Sakthi Masala’ are the competitors in Tamil Nadu. The southern region (comprising Andhra Pradesh, Tamil Nadu and Karnataka) contribute 70 per cent to the company’s sales.

The investments would be utilised to improve the basic infrastructure at its integrated manufacturing facility in Bangalore.

Recently, the Bangalore-based company had acquired Pune-based Rasoi Magic to enter into the ‘meal mixes’ market.

source: http://www.news.indiamart.com / Home> SME News> Business News / SME News, Friday, October 05th, 2012