NEW DELHI: Snacks and packaged food company Bikano is targeting a turnover of Rs 1,500 crore by the end of the year. The company is focusing on healthy namkeen and its expansion in south to grow its market share across categories.
Pankaj Agarwal, Chief Operating Officer of Bikano told The New Indian Express that as people in the age group of 20-35 have become more health conscious post-Covid, their namkeen consumption has been decreasing and added that post pandemic, there are increased concerns around food safety and we are working in the direction to provide safe and healthy food to our customers.”
To target this category, Agarwal says, “We are focusing on healthy products like roasted or diet namkeen, we are also coming up with corn and millet-based products.” The company plans to launch healthy snacks for kids as well.
Bikano’s turnover is currently Rs 1,250 crore and it’s aiming at a turnover of Rs 1,500 crore by the end of the year. The Fast-moving consumer goods (FMCG) firm is averaging a compound annual growth rate (CAGR) of 18 per cent.
Agarwal notes that Bikano’s market share is 8 per cent across categories and they are aiming at increasing the market share by 2 per cent every year.
The company, which gets 60-65 per cent of its revenue from Northern India in March forayed into the Southern market with namkeen & sweets category. It has also set up a production facility in Hyderabad and has reported a revenue of Rs 30 crore from the south in just four months.
The COO says, “We expect the revenue will see a two-fold growth every year.” He adds that Bikano has a 2-year plan for southern and western markets post which it will move to the eastern part of the country."
Agarwal added, “Post pandemic, there are increased concerns around food safety and we are working in the direction to provide safe and healthy food to our customers.”
Brokerage firm ICICI securities in a report recently noted that consumer preference is changing from unorganised to organised players in the snacks category. Growing social trends, improving convenience and fast-paced lifestyles have served to enhance the preference for packed food, it had said.