MUMBAI, Aug 10:  Sanwaria Agro Oils is targeting 60 per cent revenue from its branded segment in three years and is planning to launch rice bran oil in six months, a top company executive has said.
“We want to expand our retail segment and strengthen our brands. We are targeting to increase the revenue from branded segment to about to 60:40 in 2-3 years,” Sanwaria Agro Oils’ whole-time Director Anil Agrawal told PTI here.
At present, the Madhya Pradesh-based edible oil maker gets 15 per cent revenue from the branded segment and 85 per cent from bulk business.
Sanwaria Agro Oils is planning a capex of up to Rs 300 crore for the next two years subject to the approval of shareholders, he said.
“We are planning a capex of Rs 200-300 crore for the next two years. The board of the company has already approved it. We are now waiting for shareholders’ approval in our annual general meeting to be held soon,” he added.
The company is planning to introduce rice bran oil in next six months, Agrawal said.
“We have our own rice mills for processing basmati rice and can easily produce rice bran oil from our units. So, we decided to explore this and worked adding rice bran to our product portfolio. All the necessary things in this regard are in place and we will be introducing the new product in another six months time,” he added.
The company currently has 200 tonnes per day capacity rice mill at Itarsi near Bhopal in Madhya Pradesh and is setting up another 400 tonnes per day capacity unit near it, which will be operational by December, he said.
“We export the premium basmati rice to the Middle East, South East Asia, Europe and Iran. The demand for our basmati rice is growing. So, to keep up with the demand, we decided to add another rice processing unit,” he said adding that the company is also expanding the capacity of its wheat flour mill to 200 tonne per day from the current 100 per day.
The company, he said, is also getting enquiries from other export markets for its basmati rice and will begin shipments to the US and Africa from this year. (PTI)
&&&&&

NEW DELHI, Aug 10:  Fund constraints, delay in land acquisition and absence of timely clearances hit roll-out of key manufacturing projects with cost overrun estimated at a whopping Rs 4.5 lakh crore as of FY 2013-14, says an Assocham study.
Of the total live investments worth over Rs 30 lakh crore attracted by the manufacturing sector across India as of financial year 2013-14, about 44.5 per cent investment projects worth over Rs 13 lakh crore have remained non-starter, stated the study.
“The Government needs to ensure time-bound execution of projects and limit the time-frame for clearance by concerned authorities and penalise them if they are not able to meet deadlines,” Assocham Secretary General D S Rawat said.
“New investments in the manufacturing sector have declined at an annual negative average rate of 21.5 per cent since 2009-10,” he added.
The study observed that investors also cause delay in implementation of projects due to reasons like inappropriate planning, change of ownership, lack of co-ordination with contractors and other stakeholders involved.
“Poor execution of investment projects in manufacturing sector across India has resulted in serious cost-push worth over Rs 4.5 lakh crore as of financial year 2013-14, about 44 per cent of their actual cost of over Rs 10 lakh crore. The overruns vary from one month to as high as 50 months, placing the project viability at risk,” the study said.
Private sector-based manufacturing investment projects have majority share of about 65 per cent in projects that have registered cost overruns while public sector-owned projects accounted for the remaining 35 per cent, the survey noted.
Sector-wise, the steel sector recorded maximum surge of 52 per cent in cost overruns followed by refinery (22 per cent), aluminum and aluminum products (six per cent).
Among states, Odisha has acquired maximum share of 27 per cent in cost overruns in manufacturing sector-specific investment projects across India followed by Jharkhand (13 per cent), Andhra Pradesh (10 per cent), Karnataka (9.6 per cent) and Rajasthan (eight per cent). (PTI)
****