Keventer Agro Ltd chairman and managing director Mayank Jalan has said the company is planning to invest about Rs 200 crore to expand its milk and banana businesses in eastern and northern India.
According to the top official of the one of the largest food and agriculture companies from eastern India, “We are planning to invest Rs 180-200 crore in the next two years, out of which about Rs 40-50 crore will go to our dairy business to augment existing capacity.”
Keventer Agro is Parle Agro’s largest franchise for Frooti, Appy and Bailley. He added: We have earmarked Rs 80 crore for our banana business. And the balance will go into our Frooti business.
Stating that the company would raise debt to meet this capital investment plan, he added: “We are very under-leveraged, so we might be looking at debt.”With a turnover of more than Rs 1,000 crore, the company sold over 30,000 tonnes of banana last year under the Keventer brand.
Image Credit : keventer.com