Catch Salt & Spices targets Rs 5,000 crore revenue in five years; eyes 30 pc CAGR growth

Lucknow, Nov 6 (PTI) Catch Salt & Spices is targeting a revenue of Rs 5,000 crore over the next five years, riding on a projected compound annual growth rate (CAGR) of 30 per cent, a company official said here on Thursday.

"In FY 2023-24, the company crossed the Rs 1,000 crore revenue mark and is targeting the Rs 5,000 crore mark in the next five years at a CAGR of 30 per cent," the representative told PTI.

The UP-based company, a popular brand of the Dharampal Satyapal (DS) Group, also announced the launch of a new range of products across its spices and allied categories in Uttar Pradesh, including a premium single-spice 'Origins' range, new sprinkler variants, and an expanded whole spices portfolio.

Catch Salt & Spices also unveiled mayonnaise and sauces in bulk packaging to strengthen its growing footprint in the HoReCa (Hotel, Restaurant, and Catering) segment.

Having clocked over 20 per cent year-on-year growth in the past two years, Catch Salt & Spices plans to build further on its strong market momentum, particularly in key Uttar Pradesh cities such as Lucknow, Gorakhpur, Noida, Ghaziabad, Meerut and Varanasi.

"Uttar Pradesh represents a significant and dynamic growth engine, defined by its scale and the accelerating consumer preference for branded quality products," said Sandeep Ghosh, Business Head, Catch Salt & Spices, DS Group.

"With a robust distribution network and growing access through e-commerce and quick commerce, we are establishing a market lead by adapting to the evolving consumer behaviour," he said.

The company in a statement said urban sales continue to drive its regional growth, while rural demand is accelerating at a faster pace. To tap this potential, Catch Salt & Spices is directly appointing partners in rural markets, enhancing its already extensive distribution network across the state.

A dedicated team of chefs, supported by DS Group's research and development unit, has also been tasked with creating customised products for hotels and restaurants catering to premium clientele, it added. PTI KIS MR