Friday, June 14, 2024

TABP hits sales of Rs 172 crore in FY24, aims for Rs 500 crore in the next 2 years

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Coimbatore-based TABP Snacks and Beverages has achieved a revenue milestone of Rs 172 crore from product sales during FY23-24. The snack manufacturer, known for its assortment of healthy breakfast cereals, millets, and juices, operates under a philosophy of providing nutritionally rich food and beverages at affordable prices across all segments of society. Their products are priced at INR 5 and INR 10, making them accessible to a wide range of consumers.

Prabhu Gandhikumar, the driving force behind the company, shared insights through media platforms highlighting innovative strategies that have propelled TABP’s success in a fiercely competitive market. Prabhu emphasized on the increased demand for beverages, particularly during the extended summer period in the country. He noted the success of recent product launches, such as the lemon salt beverage, which has garnered widespread popularity and led to repeat purchases nationwide.

In addition to the lemon salt beverage, another TABP offering gaining momentum is an energy drink priced at Rs 10. This beverage appeals to individuals seeking a caffeine boost in hot weather, providing a convenient alternative to traditional tea or coffee.

Prabhu also underscored the success of TABP’s veg biryani, which has become a top performer, accounting for nearly 40% of their sales. He also mentioned the upcoming projects for TABP including the introduction of Rs 5 ‘Podi Idli’, ready-to-eat noodles, and packaged bhel, catering to consumer demand for convenience and flavor.

Talking about the snack category, Prabhu said, “Our focus in snacks lies in replicating the emotion of staple foods like bhel, podi idlis, and biryanis, which are beloved by people at the bottom of the socioeconomic pyramid. Through extensive R&D, we aim to transform these traditionally unpackaged and labor-intensive dishes into affordable, packaged snacks priced at INR 5 and INR 10.”

Prabhu highlighted TABP’s commitment to affordability and accessibility, with a key focus on selling products at a price point of Rs 10 that resonates with price-sensitive consumers. This approach has helped TABP carve out a niche for itself in the market.

He also discussed the successful establishment of a plant in Odisha, made possible by government subsidies that have enabled TABP to expand its presence in the eastern market while creating employment opportunities for local communities.

Building on the success of the Odisha plant, TABP is now expanding into Gujarat, and West Bengal, and establishing a third-party unit in Assam, with a plant in Guwahati expected to commence operations by the end of the month.

Looking ahead, Prabhu outlined TABP’s growth targets, aiming to surpass the Rs 500 crore sales mark within the next two years. The company plans to deepen its presence in southern markets and expand into regions like Madhya Pradesh, Bihar, and Jharkhand.

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