Kochi, 11th July 2012: Eastern Condiments (P) Ltd has achieved a gross turnover of Rs 480 crore in 2011-12 which is a 24 % increase over the previous year. In a year of all round growth, the export turnover of the company has for the first time touched the Rs 100 crore mark clocking nearly 20% growth over the previous year.
Eastern has recently bagged the Spices Board award for performance in export of spices powders and masala mixes during the financial years 2009- 2010 and 2010-11. “We could win the largest exporter award of blended spices in consumer packs for the 14th year in succession, because of our focus on quality and its acceptance among a large population of other countries in addition to the ethnic Indian population” said Navas Meeran, Chairman, Eastern Group.
The export orientated unit in Kothamangalam which came to operation in the year 2011 has achieved its full capacity utilisation. The plant has a capacity of 40 tons per day and houses some of the latest equipments like the Universal mill for grinding and Ventilux steam sterilizer for sterilization of the products.
Within the country, the company has identified Maharashtra, AP, UP and Karnataka as its main markets in coming days. In all these states the company is amongst the top 3 brands. The introduction of region-specific products and expansion of distribution network is one of the main reasons for this growth.
The latest advertisement campaign which is localized focuses on the product as its hero and is making an impact wherever it has been aired. “ Competition is an opportunity” says Navas Meeran. He believes that competition will help improve penetration of packaged and processed foods.
With the joint venture with McCormick of USA, the world’s largest spice processing company, Eastern looks to bring out many new and innovative products in the Indian Market.
Today, Eastern is a leading brand of spices, seasonings and other food related products in India and is available the Gulf Region, Europe, UK, The USA, Canada, Singapore and Australia and has grown rapidly since its inception in 1989.
Eastern Condiments is part of the well-known Eastern Group having diversified business interests in areas such as pre-cured tread rubber, rubberised coir mattresses, apparels, packaged drinking water, education and wind energy. A professionally managed organisation with a turnover of 70 billion, the Eastern Group is committed to excellence and leadership in every segment of its business.
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