Abhay Parnerkar
| Photo Credit: Special Arrangement
Godrej Tyson Foods Ltd. (GTFL), the farm-to-fork three way partnership firm of Godrej and American meals main Tyson Foods, with manufacturers similar to ‘Real Good Chicken’ & frozen ready-to-cook model ‘Yummiez’, mentioned it could clock double-digit growth in FY24 whereas sustaining a quantity growth of 16% year-on-year (YoY) for its processed and branded products business.
Having achieved the milestone of surpassing the turnover of ₹1,000 crore with a 28% growth in income as in comparison with the earlier 12 months GTFL mentioned within the third quarter of FY24 it sustained 15% YoY quantity growth for branded companies, together with Godrej Yummiez and Real Good Chicken.
The firm mentioned it had been scaling again on poultry buying and selling and specializing in branded companies for higher profitability.
For the 9-months of FY24 the general branded business income comprising of Godrej Yummiez and Real Good Chicken stood at ₹454 crore wity growth fee of 12% YoY.
Abhay Parnerkar, Chief Executive Officer (CEO), Godrej Tyson Foods Limited, mentioned
“As we scale back on poultry trading, I think next year and the year after that we believe the two processed businesses of Real Good Chicken and Yummiez frozen snacks business will continue double digit growth trajectory,” mentioned Abhay Parnerkar, CEO, Godrej Tyson Foods Ltd in a interview.
Tapping on the demand for fried Chicken, GTFL by means of its frozen ready-to-cook model Godrej Yummiez has launched Crispy Fried Chicken that may be made at residence inside 5 to seven minutes.
“This innovation from Yummiez create ‘At-Home Fried Chicken’ sub-category within the larger ₹2,000 crore Fried Chicken category. Crispy Fried Chicken and Crispy Chicken Bites becomes two fresh additions in Yummiez’s non-veg portfolio, having witnessed the launch of chicken sausage sachets, cocktail sausages, and prawns this year,” he mentioned.
Mr. Parnerkar, mentioned, “Factors such as the rising popularity of ready-to-cook and value-added chicken products are driving up chicken consumption. As India’s leading player in ready-to-cook frozen products category, Godrej Yummiez recognizes consumer preference for indulging in fried chicken out of home, steering clear of the kitchen complexities and its preparation at home.”
“Sensing the potential and the absence of hassle-free home options, we have introduced a ready-to-cook format of fried chicken that is crunchy, tasty and can be made within just five to seven minutes,” he mentioned.
The frozen meals class in India at present has a penetration fee of lower than 5%, indicating ample room for growth, the corporate mentioned.
Traditionally, each vegetarian and non-vegetarian frozen meals have been priced between ₹ 170 and ₹300 and this worth level had been a barrier for growth. Considering this the corporate by means of its model Yummiez has gone for the sachet technique to develop the volumes. It this entrance it has launched frozen ready-to-cook products protein-rich pack of two hen sausage at a worth of ₹30.
“The introduction of sausage sachets has garnered positive responses, particularly in regions like the Northeast, East, Goa, and certain pockets of South India. We plan to launch few more products in this affordable range in the next few months,” the CEO mentioned.
GTFL’s products are at present obtainable in 30 to 35 cities, which contributes to 85-90% of its business.
It has now deliberate to additional spend money on these cities and increasing into uncovered markets.
Its growth plan includes investments in freezers with a goal to double the horizontal footprint throughout the markets. GTFL can be specializing in accelerating the size of its exports business by leveraging its ready-to-cook Godrej Yummiez model.
Mr. Parnerkar mentioned, “At present, we have a single-digit percentage contribution in terms of export. This year, we added four countries to our export portfolio. Uptill now, we have been able to service some of the markets through private labels. However, this year, we started seeding the Godrej Yummiez brand in a few markets such as Bangladesh and Singapore.”
More international locations can be added quickly.
