Kolkata, Sep 5 (PTI) Usha Shriram on Friday announced its entry into the FMCG segment with the launch of its premium packaged drinking water brand, Aquaero, and outlined plans to double its topline to Rs 1,000 crore in two years before considering an IPO.
“Aquaero marks our third brand and our foray into FMCG,” Usha Shriram COO Satnam Singh Sandhu said.
He added that the packaged water industry in India is valued around Rs 50,000 crore, of which 60-70 per cent remains unorganised.
“This space holds immense potential and we see Aquaero playing a strong role in tapping that opportunity,” he said and expected GST cut will help boost demand.
Usha Shriram zonal manager (east) Rajarshi De said the brand has been launched in Kolkata before it is expanded to other eastern states.
Currently, Usha Shriram has a topline of Rs 480 crore.
“We are confident of reaching Rs 1,000 crore in the next two years. Once we achieve that revenue threshold, we will look at an IPO,” Sandhu said.
The company also indicated a roadmap for expanding deeper into FMCG.
“In due course, we will look at launching more products like atta, pulses and other staples,” Sandhu noted.
The company has earmarked an investment of Rs 25-30 crore over the next two years for this segment, with Rs 8-9 crore already deployed in plant setup, branding and rollout.
Founded over four decades ago, Usha Shriram has a portfolio spanning lighting, solar products, wires, switches, cookware, electronics, purifiers and furniture. With Aquaero, it seeks to replicate its brand equity in the fast-growing FMCG space. PTI BSM MNB
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