Bikano entered ready-to-eat segment last month, reported turnover of Rs. 550 crore in the previous fiscal and looking to close the current financial year with sales of Rs. 650-675 crore.
Mother Dairy has bought an old plant in Nagpur and is spending Rs10-15 crore to revamp it. It is also setting up milk procurement facilities in the area that is estimated to cost around Rs 30 crore.
Targeting India’s massive food market, estimated to cross $540 billion by 2020, the brand has emerged as a leading player in the ‘indulgent snacks’ category.