The Delhi-based firm as part of its capacity expansion opened a new manufacturing plant at Greater Noida with an investment of around Rs 400 crore
New Delhi: Snacks and sweets maker Bikano looks to achieve a turnover of Rs 1,800 crore in the next fiscal, helped by the capacity expansion and an aggressive marketing strategy, a top company official said on Tuesday.
The Delhi-based firm as part of its capacity expansion opened a new manufacturing plant at Greater Noida with an investment of around Rs 400 crore.
“The company has invested Rs 400 crore for the establishment of its new project in Greater Noida and aims to achieve a turnover of Rs 1,800 crore by FY23-24,” said Bikano Director Manish Aggarwal. Bikano had a turnover of around Rs 1,250 crore in the financial year ending March 31, 2022.
This new plant will help Bikano’s long-term strategy, which is a focused expansion in the northern and eastern regions of the country. It will meet the increased demand from the region and expand its market footprint.
“By setting up a new facility, the company plans to improve its supply chain efficiency, reduce transportation costs, and better serve its customers in the northern part of the country,” the company said in a statement.
Besides, this will also help Bikano compete with other snacking companies in the region by providing a more comprehensive product line and quicker delivery times to its suppliers in Tier 2 and 3 along with rural areas, it added.
Established in 1950, a modest tuck shop in Chandni Chowk, Bikano has turned into a massive sweet and savouries brand, having a presence in over 35 countries besides the Indian sub-continent.
It has five major production facilities across New Delhi, Greater Noida, and Rai. It has also ventured into the RTE (ready-to-eat) food segment, to tap the opportunities in this category witnessing fast growth after the pandemic.
