Bangalore-based MTR Foods, known for its spicy ready-to-eat foods, pickles and spicy powders, has forayed into the breakfast mixes segment, which it expects will play a significant role in helping it achieve its Rs. 1,000 crore target by 2015.
MTR's ready breakfast mix will be launched in two variants - idli and dosa. New additions such as poha (rice flakes) are expected soon.
"So far our products were competing with regional brands, but lately, multinational brands are entering the space where we are operating with enhanced regional focus," said Sanjay Sharma, CEO, MTR Foods.
Now part of a Norwegian group, MTR will follow a strategy wherein it will scale up its regional focus and introduce mixes - breakfast, snacks and meals- suited to local palates.
The ready mixes market segment is estimated around R120 crore and is growing at 25%. The breakfast category is estimated to be about Rs. 700 crore.