Riyadh – Sharikat Mubasher: The Bengaluru-based company, ID Fresh Food is all set to take its production bases off-shore and launch an aggressive market expansion plan from the third quarter.

The company also plans to launch new spices and food products this September, according to an interview with Rajat Diwaker, CEO of ID Fresh Food with Deccan Herald website.

Diwaker commented: “Spices is a very large category and that’s what excites us. We'll be launching spices in two phases. In the first phase (by mid-September), we will launch blended spices which will have a QR code on the back for the customers to read about the quality and the pesticide test that the batch has gone through. The second leg of innovation would be wet spices (six months down the line). We started working on our spices innovation much earlier than what transpired very recently with the brands. As a principle, we do only clean label products, and therefore, our product portfolio will always remain preservative-free”.

Diwaker also announced that by the end of this year, ID Fresh Food will have 50,000 stores in total after implementing an expansion plan in 11 new cities. The company will then begin a second phase in the third quarter of this fiscal year with a plan to expand to the next 40 cities.

Moreover, the company has intentions to have a manufacturing footprint in Singapore, Saudi Arabia, and the USA by the end of 2024.

Diwaker added that the last financial year (FY24) was a milestone for his company as it crossed Rs 550 crores in turnover, globally, out of which 70% comes from India. He further expected that this year is also going well as it should be comfortably doing Rs 700 crores with double-digit earnings before interest, tax, depreciation, and amortization.