MTR Foods, a prominent player in the culinary landscape, has not only carved a niche for itself but has also become a household name across Karnataka, Telangana, and Andhra Pradesh. With a diverse portfolio spanning various categories, the brand has successfully blended tradition with innovation, catering to the evolving tastes and lifestyles of its consumers.
MTR Foods has established a formidable presence across a diverse array of categories, with its flagship offerings residing in the domain of spices and mixes. This particular category stands as the behemoth of its product portfolio, contributing a substantial 55 percent to its overall revenue. A close contender for the top spot is its ready-to-eat and ready-to-cook range, which comprises various subcategories such as breakfast, dessert mixes, desserts, curries, and beverages. This segment commands 35 percent of its revenue. The remaining 10% is distributed among other categories.
“The supremacy of our spices and mixes category is not merely a statistical triumph but a testament to the authentic flavors and quality that define our offerings. It has emerged as the cornerstone of our success, resonating strongly with our discerning customer base,” said Sunay Bhasin, CEO, MTR Foods.
The ready-to-eat and ready-to-cook space, its second-largest category, has positioned itself as a dynamic and indispensable facet of its product lineup. Bhasin explained, “Its multifaceted nature aligns seamlessly with the evolving lifestyles of our consumers, particularly in the context of increasingly busy schedules and a rising number of women joining the workforce. As a direct response to these societal shifts, the RTE and RTC segment has become a driving force behind our revenue stream. Given the persistent trend of busier lifestyles, we anticipate this category will continue to play a pivotal role in our overall growth trajectory.”
The brand has recently embarked on two significant and expansive ventures, marking a strategic foray into new product categories. One notable initiative involved the introduction of a line of chilled fresh products. The offerings include its signature dosa batter, idli batter, and the distinctive red rice dosa batter. “Building upon the success of our fresh batter range, we unveiled a compelling addition to our breakfast lineup – the Akki rotti. Complementing this, we also introduced another variant of Indian bread, Malabar Parantha, offering a rich and authentic culinary experience,” Bhasin asserted.
In the spirit of innovation and diversification, this year also witnessed MTR Foods entering the realm of fresh sweets. This strategic move involved the launch of four distinct products: Mysore Pak, Besan Unde, Bombay Halwa, etc. “This expansion represents a significant leap from our established presence in the sweets mix category to providing consumers with an array of ready-to-enjoy fresh sweets,” he added.
Within the spices and masala category, the brand has strategically expanded its reach to encompass villages with varying population sizes. “In the state of Karnataka, our presence extends to villages with populations of up to 2000, ensuring that the rich and diverse flavors of our spice blends are accessible to even the most remote communities. Venturing further into the southern territories of Andhra Pradesh and Telangana, we have established a formidable presence in villages with populations reaching up to 5000, thereby cultivating a broad and diverse consumer base,” noted Bhasin.
Among its distribution channels, general trade emerges as the undisputed leader, contributing a substantial 75 percent to its overall sales. In addition to this, MTR Foods has successfully permeated modern retail formats, accounting for 19 percent of its sales.
Furthermore, recognizing the transformative impact of the digital age, the brand has also strategically embraced e-commerce as a pivotal distribution channel. This dynamic and rapidly growing avenue contributes between 4-6 percent to its overall sales.
MTR Foods’ strategic focus extends beyond urban centers, emphasizing the importance of Tier II and III towns, with a particular emphasis on rural markets. “These markets, often underserved yet culturally rich, play a pivotal role in shaping our approach and contribute substantially to our overall success, accounting for nearly 20 percent of our total sales,” he stated.
“Our commitment to these towns and rural areas is not merely a business strategy but a reflection of our dedication to inclusivity and accessibility. Recognizing the unique tastes and preferences that thrive in these regions, we have tailored our offerings to resonate with the diverse culinary traditions that characterize Tier II and III towns and rural landscapes,” he added.