The company’s revenue grew 14.86% to Rs 1530.44 crore in FY23 from Rs 1332 crore in FY22, according to regulatory filings accessed by business intelligence platform, Tofler. The company’s profit after tax (PAT) too increased 14.20% to Rs 119.48 crore in FY23 to Rs 102.51 crore in FY22. 

Interestingly, the company which claims to follow an omni-channel strategy for advertising and marketing, upped its advertising and promotions expenses 10.63% to Rs 119.21 crore in FY23 from Rs 131.88 crore in FY22, RoC filings. According to Subramanyam, the strategy is to be everywhere the consumer is as they prefer to be omni-channel and consume a lot of content. “We have a certain cohort that we speak to which is largely coming from homemakers with children and adults. What is really more important is the message that we give to them and what the idea is in terms of what we want to say about our brands, then you know the various touch points are really a fallout of where consumers are where the message can really come to life,” he explained. 

In order to promote the new product, the company has rolled out a multi-media advertising campaign with tagline ‘Mmmmuesli’, conceptualised by Ogilvy. It has also plans to roll-out out-of-home (OOH) billboards in selected cities. “We are planning to execute innovative ideas such as billboards with the food standing out. Additionally, we plan to publish half page print ads in some of the leading dailies. On digital, we will have Youtube mastheads besides  getting onto connected TV,” he said. The company also plans to release ads on over-the-top (OTT) platforms including Disney+Hotstar, SonyLIV and Zee5.

The new product is aimed to cater to the needs and demands of consumers in metros and tier-1 cities, between the age of 20-40 years, as per the firm. Moreover, the company has launched the product in two pack sizes, a trial pack of 75 grams for Rs 60 and a full sized pack of 450 grams for Rs 360. The company claims that the trial pack is playing a significant role in driving conversions. “What we are seeing right now is that a fair amount of sampling is happening at various retail stores with the trial pack driving almost 20% conversions. We make sure that we have the right tags for the right channels. So, the Rs 60 trial pack is coming in a dispenser and is shelf ready,” Subramanyam added. The company claims that the distribution strategy is similar to what other fast moving goods companies (FMCG) would follow. In order to stand out in a chaotic environment in any general store the packs are shelves friendly. Furthermore, the company’s other product line includes Cornflakes, Chocos and Muesli in various flavours and variants.

Follow us on Twitter, Instagram, LinkedIn, Facebook