Cremica Foods looking at an IPO in the next fiscal

Cremica Foods, known for its range of packaged food products including mayonnaise and ketchup, is considering an IPO. The company is also looking at tapping international markets and expects to nearly double its manufacturing capacity by the next fiscal year.

“Cremica is in an interesting phase of its journey. We are considering for a significant fundraise through an IPO in the next fiscal. It will enable the company to get to the next phase of growth. I think the business is eminently placed to go public. We expect to cross the ₹500-crore mark by FY27,“ Akshay Bector, Chairman & Managing Director, Cremica Foods, told businessline.

“Despite challenging macroeconomic conditions, we will close this fiscal year with sales growth of 15 per cent. We will be doubling our EBIDTA from last year. Our retail and HoReCa (Hotel, Restaurant and Catering) businesses have done well. We expect to maintain the trajectory of 15-20 per cent sales growth,” he added.

Expansion on the cards

The company is in the process of enhancing capacities at its plants in Punjab and Himachal Pradesh. “This will enable us to almost double our manufacturing capacity by the next fiscal year. With this, we plan to add new products especially in adjacent spaces,” Bector said.

The company, for instance, is looking at foraying into the pickles segment in the coming months. It is also eyeing expansion in international markets. Bector said that the company will look at foraying into the West Asia and South-East Asian markets.

Bector said that the company is also sharply focusing on expanding its retail footprint. “We are looking to grow our retail footprint to one lakh outlets by next March with a focus on strengthening our presence in smaller cities. We will keep looking to expand it further,” he added.