Marico Ltd. will increase its offerings in the foods segment as it aims to expand its breakfast and mid-meal snacks and immunity products.
“We are focused on foods and want to participate in high tailwind growth categories which have room for a second player with a differentiated positioning,” Saugata Gupta, managing director and chief executive officer at Marico, told BloombergQuint in an interview. The company, he said, will enter categories which are worth more than Rs 500 crore and aim to gain market share.
The maker of Parachute hair oil said it’s on track to meet its target of Rs 350-400 crore food business revenue in FY21 and Rs 450-500 crore in the next fiscal.
In the July-September quarter, Marico launched ayurveda products including Saffola Kadha Mix and Saffola Golden Turmeric Milk Mix.
In the value-added hair oils segment, Marico is confident of growth improving. The…