Parle Agro to clock Rs 10,000-cr turnover by 2022

Parle Agro, the beverages major, is aiming to establish a new plant. The producer of well-known brands such as Appy Fizz and Frooti is looking to launch one new product in the next two years. This is in line with its target of touching a turnover of ₹10,000 crore by 2022. Recently, it had launched its new beverage B-Fizz. It is a malt-flavoured fruit juice-based drink. The Company is speculating an overall growth of 10 per cent this year. As per Nadia Chauhan, Joint Managing Director and Chief Marketing Officer, one new category is likely to be introduced by 2022.

As of now, the firm is looking to have the upcoming manufacturing unit to be set up in Vijaywada, Andhra Pradesh. Already, it has established greenfield facilities in Mysore (Karnataka) and Sitaganj (Uttarakhand). In terms of size and manufacturing capacity, these units are largest amongst all of the company’s plants. In India, Parle Agro has a total of 67 manufacturing units. Out of this, nine are company-owned beverage units while one is a separate preform manufacturing unit. Rest others are franchisee units.

To play an important role in this, the firm is banking on its newly launched brand B-Fizz. The company would be spending about Rs 40 crore on the marketing of B-Fizz when it comes to the marketing investment in the rest of the calendar year 2020. For last many years, Nadia has played a significant role in the growth of Parle Agro. She has launched a number of brands.