Barely nine months after launching first "NuPro" brand tur dal, Mahindra Agri Solutions Ltd (MASL), a wholly-owned subsidiary of auto major Mahindra & Mahindra Ltd, has launched four new variants of pulses to strengthen its agri commodities business.
Aiming to achieve 6-7 per cent of market share in Mumbai by the current financial year end, MASL introduced chana dal, moong dal, masoor dal and urad dal at a premium of nearly 20 per cent over the prevailing market price of these variants. The company also sells tur dal at similar premiums.
MASL's launch of new pulses variants indicates consumers' confidence towards "NuPro" brand which claims to be unpolished and nutrient-rich with guaranteed quality. Since procurement of whole grain and processing thereafter are controlled and monitored by the Mahindra Quality Standard (MQS), MASL has received repeat of orders from consumers.
"With introduction of four new varieties of pulses, we can now boast of a complete portfolio of branded pulses with the proposition of healthy, pure and quality products. We are encouraged by the consumers' response. With theNuPro brand of pulses, we are delivering our promise of purity of customers. The repeat purchase for NuPro stands at a healthy 30 per cent," said Ashok Sharma, Managing Director and Chief Executive Officer, MASL.
The company is retailing pulses through its 4300 retail outlets involving 22 distributors. The distribution of pulses has achieved a monthly volume of 100 tonnes with accumulative quantity of pulses handling at 500 tonnes since its first launch nine months ago. MASL is targeting Mumbai pulses market which currently stands at Rs 7,000 crore of which branded pulses contribute nearly 5 per cent worth Rs 350 crore. The company aims to achieve Rs 20 crore of turnover from pulses segment this year. Organised sector pulses sell is growing at 15 per cent annually in Mumbai. The company plans to expand its footprints beyond Mumbai steadily and see its presence across all major cities in India .
Targeting third slot with 6-7 per cent of market share in Mumbai by the current year end only after Tata's and Satyam's market shares at nearly 20 per cent and 8-9 per cent respectively in pulses segment, MASL
"While we distributed 20,000 packets of 'NuPro' brand tur dal for promotion, we don't feel the need of complimentary distribution of pulses now as our brand got established. We would invest on brand promotion of our new variants of pulses as per the need," said Sharma.
MASL with its business in mustard oil and soya oil under "NuPro" brand apart from pulses; anddairy and fruits under "Saboro" brand cloaked a total turnover of Rs 900 crore in the financial year 2015-16.
The company is exploring pulses procurement strategy from African countries including Tanzania and is also in talks with suppliers in Myanmar to expand pulses import during lean season in India. Import contributes currently 10 per cent of MASL's volume.
"Our aim is to increase farmers' prosperity for which we have been successful in Latur where farmers achieved 20 per cent growth in productivity at 800-850 kgs per ha through our modern mechanized farm practices through 250 Samriddhi centres," said Sharma.