1. Grain-based ethanol plant - A 1,000-KLPD grain-based ethanol unit is under construction at Sabarkantha, Gujarat, with a total outlay of ₹2,250 crore, land ready, and 95% financing tied up through a public-sector bank loan. At roughly 8x the company’s current net worth, the plant would add a second, very large earnings stream once operational, with management expecting it to “start contributing very handsomely” within two financial years.
2. Middle East market entry - The company entered Bahrain, Oman, Qatar, and the UAE in the last financial year and incorporated a wholly owned subsidiary, Grow and Grub Nutrients FZ-LLC, in the UAE to import and distribute Thai and jasmine rice. This opens a direct route to premium Gulf markets and diversifies the product portfolio beyond Indian basmati.
3. USA and Singapore expansion - A Singapore subsidiary has begun operating at a minor scale, with full operations targeted for 2025, while expansion into the USA is also planned. Singapore offers higher margins on select commodities and lower taxation, which can lift consolidated profitability as volumes build.
4. Salt range rollout - The company launched edible common salt, crystal salt, and imported rock salt under the ‘Mishtann Rock Salt’ brand, with black salt in the pipeline and a pricing strategy aimed at tier-2 and tier-3 cities. Salt adds a high-volume, everyday-use category that can ride the existing 125,000-distributor network and improve capacity utilisation.
5. Distributor base expansion - Management plans to grow the indirect retailer base from approximately 125,000 to at least 160,000, with a “huge corporate access” expected within 30 days of the Q2 FY25 call. A wider network directly increases the reach of every new product launch, from salt to rice variants, without proportionate fixed-cost increases.