"We aim at 50 per cent growth for both sales and profits in 2004-05," Surya Food and Agro Ltd chairman B P Agarwal said.
The company has an installed production capacity of 300 tonnes per day, he said and added the capacity utilisation stands at 60 per cent at present.
The Priyagold biscuit range is being produced in the plants located in Noida, Lucknow, Surat, Nadiad, Faziabad.
The company plans to put up a manufacturing plant at a cost of Rs 10 crore (Rs 100 million), either in Hyderabad or Bangalore, for tapping South Indian market. The company would also focus on the export market from next year and target African continent, Agarwal said.
Agarwal, also president of the Federation of Biscuit Manufacturers of India, said Indian biscuits have huge market in Africa, Middle East and East European countries.
On foreign biscuits flooding domestic market, he said the domestic manufacturers favour imposing a counter veiling duty in addition to import duty for biscuits coming from countries like China, Thaliand and Malaysia.
He also said there is no specification on size and weight for imported biscuits at present and asked the authorities to specify norms.
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