Online BusinessParle eyeing 15 per cent growth in UP
India’s largest manufacturer of biscuits and confectionery, Parle Products is eyeing 15 per cent growth in turnover from Uttar Pradesh in the current fiscal.
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Last financial year, the company clocked sales of about Rs 400 crore in the state.
“UP contributes almost 14 per cent to our annual revenues and we target to grow by 15 per cent this year,” Parle Group Product Manager Mayank Shah told Business Standard.
He added that UP was a developed market both spanning the rural and urban areas for the biscuit and confectionery segment.
Parle is market leader with 40 and 15 per cent market share in the biscuit and confectionery segments respectively. The company’s product portfolio has a total of 35 brands, including Parle G, Monaco, Krackjack, Hide & Seek, Mango Bite, Melody etc.
It has seven manufacturing units located in Mumbai, Bangalore, Haryana and Rajasthan, besides 51 units on contract.
The unlisted entity promoted by Vijay Chauhan and Sharad Chauhan posted revenues of close to Rs 3,000 crore last year.
Shah was here to launch the new CSR initiative ‘Parle My Green Plant’ in the state for creating awareness among children about environment and need to protect it.
The campaign will reach out to 5,000 schools in 75 cities of the country with the aim to reducing wastage of plastic, increasing environmental awareness and conserving the ecosystem.
“As part of this initiative, we have tied up with NGOs and will plant one lakh trees across the country,” hesaid.