BENGALURU: Setting ahead with an ambition of doubling its profits over the next five years, Britannia Industries Ltd launched its research and development center in Bidadi, near Bengaluru. The state-of-the-art facility has been set up with an investment of Rs 200 crores, to boost the company’s product innovation.
The research center which was inaugurated by Industries Minister R V Deshpande, is spread over 55,000 square feet.
The R&D center, with an adjacent manufacturing plant, houses pilot facilities for all the bakery and dairy products of Britannia. The research center also helps in catering to analytical excellence, laboratory (Microbiology & Organoleptic), product development, packaging development, nutrition and dairy development, among others.
Expanding beyond their current profile, the company was looking at becoming a total foods company over the next five years, doubling their profit margins with an aim to serve over a billion Indians four times a day, according to Varun Berry, Managing Director, Britannia Industries Ltd. The company had a revenue of Rs 7,947.90 crore in FY2015-16.
Furthermore, as part of its future plans, Britannia hoped to make a mark in the premium segment. Growth and profitability are equally important, Berry said.
At present, Britannia has manufacturing facility only in India and at one plant in the Middle East, while it exports its products to 70 countries.
However, when it comes to expansion to other countries, the company would prefer to enter markets that have similar environment to India, Berry added.