BENGALURU: Packaged food products company MTR Foods, a subsidiary of Norwegian conglomerate Orkla, on Thursday announced its foray into a new business segment with the launch of MTR Minute Fresh - Idli and Dosa batter.
The company has invested Rs 25 crore in expanding its production facility and also for setting up a cold chain network. It has also created a new business vertical to take forward the fresh idli and dosa batter category.
Sanjay Sharma, CEO, MTR Foods, said, "The surge in this category post the lockdown cemented our decision to introduce the Minute Fresh range of idli, dosa and MTR Signature dosa batters this year." He added that the company has set up a dedicated sales team that will cater only to MTR Minute Fresh. Starting with Bengaluru, the company is planning to foray into other cities gradually.
MTR Foods has been growing 5x in terms of revenue and its turnover is close to Rs 1,000 crore. "We are expecting Rs 100 crore revenue from this product category- batter business- in the next 3-4 years," Sharma said. In the case of idli and dosa batter, the market is dominated by unorganised players.