CavinKare is an Indian corporation headquartered in Chennai, India. In 1983 it was Chick India first. The company is represented in more than 21 countries and is engaged in the production of dairy products, food, snacks and drinks.It has a strategic alliance with Coty Inc. for the brands like Adidas,Jovan and Hawpar International for Tiger Balm production.
While FMCG companies across India are growing rapidly during this Lockdown and Corona period, many leading companies are not only expanding their business but also investing heavily in the business.
In this context, cavinkare Limited, a leading FMCG company in Tamil Nadu, on Monday unveiled its 2.0 plan to restructure its business and company.
Cavinkare has set a huge business and revenue target through this project.
Cavinkare Group
Headquartered in Chennai, GavinCare operates not only food and dairy products but also cooldrinks, personal beauty products, saloons and animal clinics. In this case, the GavinCare Group has a number of plans based solely on the development of the 2.0 project.
Ecommerce and online service
Through this project it plans to bring many innovations in the company and business. CK Ranganathan, Chairman, Gavincare Group, said:
Are you planning to issue an IPO?
While many companies in India are currently planning to issue IPOs, many changes are being made in the company and management. CK Ranganathan, Chairman, GavinCare Group, said that all the changes that GavinCare is going to make now are for the purpose of issuing an IPO.
Revenue target of Rs 5,000 crore
We have come up with this restructuring plan so that cavinkare can easily travel in the commercial market. Cavinkare has come up with this 2.0 restructuring plan with the aim of becoming a company with a revenue of Rs 5000 crore per annum within the next 3 years. CK Ranganathan has explained that there is no plan to issue an IPO at present.
2.0 Restructuring Plan
The CK Ranganathan-led cavinkare management plans to make a new investment of Rs 800 to 900 crore for the 2.0 restructuring project. The investment will be used to upgrade the factory, distribution network, expansion and digital infrastructure.
900 crore investment
In addition, cavinkare plans to invest around Rs 100 crore in Green Trends and Limelite Salon under the GavinCare Group. Similarly, CK Ranganathan has replied that Rs 400 crore is in the diary category and SANCHU plans to increase the number of hospitals to 100 in the next 3 years.
Revenue growth
Cavinkare Group, which had an annual turnover of Rs 1,700 crore last year, has set a target of raising the group’s revenue to Rs 5,000 crore within the next three years through new restructuring and new investments.
Key leaders
Venkatesh Vijayaragavan, the company’s director, will be the CEO of FMCG, while Amuthavalli Ranganathan will be the CEO and CEO of the FMCG division, while Manuranjith Ranganathan will be the chairman and CEO of the retail division.