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A family-run company, Saj Food Products that sells its products under the brand name Bisk Farm, has plans to enter the primary market with an IPO once the volatility in the market settles down and the valuation of the company grows.
Apart from biscuits, the company produces cakes, namkeens, wafers and sweets. Vijay Kumar Singh, managing director of the company said that while an IPO is in their mind, they are also open to the idea of acquisition in their product categories if it fits into their company’s requirements. “We have got many proposals, but none of them have been too lucrative to acquire,” he said.
The company is expecting to close the current financial year with a turnover of Rs 2,100 crore. “Our aim is to grow our business by 25% so that we can achieve a turnover of Rs 2,500 crore,” said Singh. At present, 80 per cent of the company’s business comes from eastern India and the rest 20 per cent from other parts of the country.
As part of its plan to increase its presence in the country, the company first wants to make deeper penetration in south India which will be served by its plant in Karnataka. “South India is a major market where we want to become a leading player,” he said. The company has six factories spread over east, west, south India and is in the process of coming up with a greenfield manufacturing plant in Guwahati at an investment of Rs 200 crore.
Bisk Farm’s Just Baked outlets, is another ambitious part of the brand’s endeavour to share its goodness directly with the consumer. It showcases the brand’s array of freshly baked savouries, danishes, special cakes, pastries, breads and other confectionery items, along with a great ambience. It has 43 Just Baked outlets that are present in eastern India only.
“We have plans to open Just Baked outlets in Bangalore to begin with,” said Singh. The company also exports its products to Africa and UAE.
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