BY RITWIK SINHA
Iffco Kisan, a subsidiary of fertilizer major Iffco, is all set to expand the ambit of its Swarnhar brand of food products in the near run. The company which primarily provides advisory services to the farming sector reaching out to over 4.5 million farmers daily has recently initiated Swarnhar brand offering spices products. While the launch of spices has been on a low key basis, speaking to indoasiancommodites Sandeep Malhotra, MD of the company said Iffco Kisan is gearing up to add more products to its portfolio in the next one year.
“ After spices, we will be introducing pulses, wheat or even rice products in the coming months. The idea is to have a much broader offering portfolio over the next one year, ” he said while adding company’s direct linkage with a large volume of farmers across the country will be the critical differentiator in its larger FMCG play.
“ For our consumer offerings, we are sourcing commodities directly from dedicated Farmer Producer Organisations (FPOs) or farmers in different geographical clusters. And we are setting up processing centers to prepare the final product. We will be consistently increasing the back-end capacity as we expand the scale,” Malhotra added.
Having introduced spices under Swarnhar brand on a low key basis this year, the company is expecting an additional revenue of Rs 15-20 crore at the end of the current fiscal from the new vertical. “ Once we launch other products in the coming months, we expect our revenue to rise over Rs 50 crore in 2020-21 financial year. We are clearly driven by the idea of making Swarnhar a strong FMCG brand in the coming years which stems from our captive strength,” he emphasized. He, however, admitted that company’s forward linkage with consumer distribution channels is not that strong and this is an area it will have to develop very fast. “ We have begun talking to leading modern retailers to get a sense of the volume we need to deliver to get noticed in the market. Once we scale up the operations, we will harness this route,” he pointed out.