Cavin Kare eyes Rs 1,000 cr turnover this fiscal

TIRUCHIRAPALLI: Chennai-headquartered consumer goods maker Cavin Kare on Monday said it is targeting Rs 1,000 crore in total turnover this fiscal.

The company is looking to touch a total turnover of Rs 1,000 crore by this fiscal ending March as against Rs 700 crore in 2008-09, Cavin Kare Ltd CMD C K Ranganathan told.

For the last four years the company has been maintaining a growth rate of 35-40 per cent year-on-year, he added.

On the company's expansion plans Ranganathan said, a Rs 70 crore state-of-the-art snacks manufacturing unit would come up in Thane in Maharastra at an 8-acre land, which would commence production by September.

Cavin Kare is also taking steps to enhance the export volume with special focus in Australia, Mid Europe and African countries.

At present the export volume on food and snacks business is around 5 per cent of the total business, he said.

In the new export market areas, the company would concentrate on food products, fruit juice, beverages, hair oil, shampoo and fairness cream, besides ready-to-eat range of products, Ranganathan said.