- July 5, 2017 / 3 min readClosing the last fiscal with a turnover of Rs 230 crore, the firm is looking to grow to Rs 275 crore this fiscal. The firm is also targeting to increase its export revenue to 10 per cent from the current 4 per cent.
Vermicelli manufacturer in South-India, Top Anil Marketing Company, is mulling plants in Andhra Pradesh and Kerala, beef up its product line with pasta and others to touch a turnover of Rs 275 crore, a senior company official said.
The firm has decided not to pass on the 5 per cent Goods and Services Tax (GST) to the customers and is also helping retailers and distributors to get registered under the GST regime.
N. Sugumar, Executive Director, Top Anil Marketing Company, said, "We are planning to expand our production base. We are planning to set up production facilities in Andhra Pradesh and Kerala. Each plant would involve an outlay of around Rs 10 crore."
Closing the last fiscal with a turnover of Rs 230 crore, the firm is looking to grow to Rs 275 crore this fiscal. The firm is also targeting to increase its export revenue to 10 per cent from the current 4 per cent.
Sugumar said, "We are shipping our products to countries where Indian population is largely concentrated. We now plan to have a separate set up for exports."
He added, "Nearly 40 per cent of our turnover is from vermicelli and the balance is contributed by products like salt, broken wheat, rice flour, maida, ragi vermicelli, noodles, atta and others."
N. Kamalahassan, Managing Director, Anil Group, said, "The group planned to get around 10000 retailers to get registered under the GST regime free of cost so that they do not face any hassle under the new tax regime."
Sugumar said, "The tax rate had gone up to 5 per cent from zero. We have decided to hold our price line without passing it on to the customers."
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