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BL Agro to invest Rs 50cr on capacity expansion of UP plant; to open 60 franchisee stores in FY'22

·2-min read

New Delhi, Feb 26 (PTI) BL Agro Ltd, which makes various food products including edible oils, on Friday said it will invest nearly Rs 50 crore to expand the manufacturing capacity of its existing plant in Uttar Pradesh.

The company launched its first exclusive brand outlet in the national capital and 12th in the country. The FMCG firm sells more than 80 products under the 'Nourish' brand. The Nourish store located at Janpath road in Connaught Place was inaugurated by Bollywood singer Kailash Kher.

'We have eight manufacturing units at Bareilly with an existing capacity of 750 tonnes per day. We are expanding the capacity by 250 tonnes per day to take the total capacity to 1,000 tonnes per day,' BL Agro CMD (Chairman & Managing Director) Ghanshyam Khandelwal said.

The total investment in capacity expansion is estimated at nearly Rs 50 crore, he added.

Khandelwal said the company has opened 12 exclusive outlets under the franchise model and plans to open at least 60 more stores in the next fiscal.

Asked about the company's revenue, he said the total turnover is expected to grow to around Rs 2,600 crore this fiscal year from Rs 2,250 crore in the previous year.

Out of the total revenue, Khandelwal said the edible oil business contributes Rs 2,350 crore. Around Rs 1,300 crore turnover comes from only mustard oil.

He said around Rs 250 crore revenue is contributed by other food products.

Khandelwal said the company has a debt of Rs 540 crore, which will be reduced significantly in the next 3-4 years.

Besides exclusive retail outlets, BL Agro has a large distribution network with over 60,000 retailers, across 200 cities in 13 states of India.

The company launched the Nourish brand in 2018. The brand offers an entire range of food products including atta, rice, pulses, ghee, oils, dry fruits, pickles and spices. PTI MJH MJH SHW SHW