AWL Agri Business is focusing on strongly scaling up GD Foods, known for brand Tops, in which it acquired 80 per cent stake last year. Tops’ portfolio, which offers products such as ketchups, pickles, sauces and jams, has now scaled up to about ₹500 crore in revenues.
Overall, AWL Agri Business is aiming to achieve the ₹10,000 crore revenue milestone-mark.
Shrikant Kanhere, MD & CEO, AWL Agri Business told , “One of the key reasons for acquiring GD Foods was that we wanted to broaden our food basket by having high margin products. When we acquired GD Foods was a ₹400 crore-topline company. It should end up at close to ₹500 crore in FY26. We aim to double it to ₹1,000 crore in the next few years by leveraging on our manufacturing and operational strengths.”
For now, it is looking at further strengthening Tops’ presence in the Northern region and will then look at widening its distribution to other geographies.
“Tomato ketchup, sauces, pickles , jams and vinegar are among the categories that account for nearly 75 per cent of the revenue of the brand.The balance 25 per cent of the revenues come from categories such as ready-to-cook, cake mixes and instant noodles. This is interesting for us as these are long tail products that we want to scale up. For instance : Instant noodles is growing at double-digits for us and we want to further develop this category,” Kanhere explained.
In March last year, the company had stated that it will acquire the balance 20 per cent stake in GD Foods’ over the next three years
Asked if the company is looking at more acquisitions, he added,” M&A remains on top of our agenda. We keep evaluating a lot of opportunities. Our focus for acquisitions remains in the food segment. So, if the right opportunity comes we will certainly look at it.”
Overall, the company is looking at reaching the ₹10,000 crore-mark in revenues. “We expect to achieve this goal if not by FY27 then by FY28. Even in FY27,we expect to be within striking range of this goal at over ₹8500 crore. We believe there is a strong opportunity as consumers shift to branded and packaged food products.We also see strong opportunities in rural regions where factors such as good crop has put more disposable income in the hands of rural consumers,” Kanhere noted.