Emami Agrotech enters spice business, eyes Rs 700-1,000 cr revenue in 5 yrs

Mantra Spices brand includes turmeric, chilli, cumin and coriander powders, and a range of blended masalas; firm plans to tap 200,000 outlets by this year end, 500,000 in next three years

Emami Agrotech, the branded food manufacturing arm of Emami Group, has announced its foray into the Rs 30,000 crore branded powdered spices market with Mantra Spices under its Emami Healthy & Tasty brand. The company hopes to achieve a revenue of Rs 700-1,000 crore over the next five years.

The Emami Agrotech range of spices include haldi (turmeric), mirch (chilli), jeera (cumin), dhaniya (coriander) powders and blended spices such as garam masala, meat masala, chicken masala, pav bhaji masala, chhole masala, chaat masala, sabji masala and hing (asafoetida).

The company will also add other spices like sambar masala and kashmiri lal mirch soon and intends to introduce tastemakers in the national market in the next phase.

Mantra Masala will be available in different pack sizes ranging from 8 gm to 200 gm at price points ranging from Rs 5 to Rs 110.

Krishna Mohan Nyayapati, director, Emami Agrotech, said, “Following the successful launch in West Bengal of Mantra Spices, this is a critical step for Emami Healthy & Tasty to strengthen its presence in the national market. We plan to expand our footprint across 200,000 retail outlets by the end of this year and reach 500,000 outlets in the next three years. We will also have a significant presence in modern trade and e-commerce channels.” In an interview with Business Standard, Nyayapati also said that the branded spices segment is growing at about 16-18 per cent per annum and it also complements its existing portfolio which includes edible oils.

The company has an aggressive marketing plan to promote the brand across all platforms, Debasis Bhattacharyya, president, marketing, Emami Agrotech said.

The brand intends to see 15 per cent of its revenue from the segment come from modern trade and ecommerce platforms.