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KRBL, known for its India Gate basmati rice, has diversified into the edible oil segment, launching "India Gate Uplife" blended rice bran oil variants (Gut Pro and Lite).
KRBL, which markets basmati and non-basmati rice under the India Gate brand, on Tuesday announced its foray into edible oils. The company aims to achieve sales of Rs 200-300 crore from the segment in the next three years.
Ayush Gupta, India business head, KRBL, told FE that the company is also evaluating launching several other staples, including atta (flour) and value-added processed foods, under the India Gate brand.
“There has been only one brand, ‘Saffola’ so far that has dominated this blended edible oils category with a market size of 0.11 million tonne (MT). We are going to expand this space,” Gupta said.
The company had a soft launch of two edible oil variants in February under its India Gate Uplife range – gut pro and lite, priced at Rs 192-199 per litre.
For the blended rice bran oil products, the company is targeting sales of 2,000 tonne and a revenue of about `50 crore in the current fiscal. “In the next three years, we aim for 8,000-10,000 tonne sales and revenue of Rs 200-300 crore,” Gupta said.
According to industry estimates, the country’s edible oil market is estimated at around 24.3 MT, with the blended cooking oil volume being around 6.6 MT. Rice bran oil accounts for 0.26 MT, while the blended oils category has 0.11 MT.
The new products are priced 5.7% higher than Saffola’s blended oil variants as KRBL positions itself as a premium brand, Gupta said.
At present, 80% rice bran oil blended with soyabean or sunflower is available in Delhi-NCR and Mumbai.
The products are currently available across modern trade outlets and leading e-commerce and quick commerce platforms, with general trade distribution to follow.
KRBL has decided to outsource the refining of rice bran oils for the time till it establishes itself in the market in terms of a certain volume, he said.
In FY25, KRBL reported a turnover of Rs 4,000 crore, of which 95% came from sales of basmati rice and the rest from non-basmati or regional rice.
Source: Online/OFA
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