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Sresta Natural Bio Products Ltd, the company behind the ‘24 Mantra Organic’ food brand, is pursuing plans to expand product offerings as well as the farm acreage to be ready for the exponential growth it expects the industry to witness in 10 years.
As part of the plans the company announced on Wednesday entry into two new categories — Ready to Drink and Ready to Cook products.
Five variants of the Ready to Drink — Orange, Mango, Berry, Apple and Lemon Green Tea flavours — and four variants of Ready to Cook breakfast options — Millet Dosa Mix, Ragi Idli Mix, Gojji Avalakki and Kanda Poha — have been launched, CEO N. Balasubramanian and Managing Director Raj Seelam told presspersons.
Observing that the idea was to provide products for customers across all age groups, he said that new additions would be available across the country in two months. The company sells over 200 products through 10,000 retail stores in 150 cities in India, Mr. Balasubramanian said. It also exports to various countries.
Over the next four years, the company, Mr. Seelam said, wanted to increase the acreage under organic farming, carried out on a group farming basis, to 5 lakh acres from the existing 1.5 lakh acres. To a query, the senior executives said that the expansion plans would see the headcount going up from 250 at present to 800.
The market for organic food in the country is growing at more than 30 per cent year on year over the last 3 to 4 years. While the market for Ready to Eat/Cook foods (excluding the noodles category) is estimated at Rs.600 crore, for RTD it is over Rs.1,000 crore, a release from the company said