Eying to tap overseas markets particularly South Africa and Australia, Saraf Foods Limited, a Company in freeze drying of food products ranging from fruits, vegetables, herbs and spices like Banana, Mango, Sapota (chiku), Sweet Corn, Green Peas, Onion, Bitter Gourd and Green Peppercorn is targeting a turnover of Rs 50 crores by 2015-16.
Suresh Saraf, Chairman & MD, Saraf Foods Limited said here today that the Company currently has presence in global markets such as the US, Europe and UK. In fact 60 per cent of company turnover comes from overseas markets. He said that Latin America, Brazil, Maxico, Austalia and South Africa hold huge potential for growth as far as overseas forays were concerned. He said that the company had a turnover of close to Rs 22 crores in 2013-14 and hopes to garner Rs 30 crores in 2014-15 and is targeting Rs 50 crores turnover in 2015-16 in view of new overseas markets and surging demand in domestic market.
Saraf said that young consumers with disposable incomes and jet-set lifestyle have reached a tipping point where they are demanding easy solutions from the products they buy. Consumers are focusing on buying snacks in simple consumable forms that are healthy, natural with no preservatives, with longer shelf life and are lightweight to carry along.
He said that keeping in view this increasing demand for the freeze dried food products, Saraf Foods has enhanced its production capacity by 50% by shelling out Rs. 15 crore. The move came after Mauritius-based PE Fund DSG Consumer Partners acquired 29% stake in the company by investing Rs. 10 crore.
Ms Shikha Saraf, Business Development Manager added that “when it comes to supply quality freeze-dried fruits, vegetables & herbs in the global markets, Saraf Foods stands second to none, since our strength lies in stringent processing and quality control, capacity expansion in a big way like this was a major challenge. Now, with accomplishment of the expansion plan, we are slated to become a much bigger player not only on quality front, but also on quantity front.”