Candytoy Corporate, one of the leading candy cap manufacturers, has partnered with Reliance Retail to supply confectionery toys to its 1,400 stores. The company’s founder director Gaurav Mirchandani said the Indore-based company had signed an agreement with Reliance Retail about two months ago.
He said that we currently have purchase orders for more than 15 businesses. 200 stores will become operational by the end of Diwali and 1,400 stores by the end of the current financial year. When asked about the size of the order, he said the fee would be Rs 2 crore per month across 200 Reliance Retail stores and would be increased to Rs 4 to Rs 4.5 crore per month by the end of this financial year.
The company’s market is Rs 1,000 crore.
Mirchandani said that we have more than 75 SKUs in the sweet and savory sweets category, which we offer to Reliance Retail. Canditoy Corporate (CTC) has a capitalization of around Rs 1,000 crore. It supplies other retailers globally in 40 countries. The company plans to sell about 10 percent of the equity to fund its future expansion plans and is considering an initial public offering (IPO) in the next two to three years.
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How much can the business reach?
CTC is a global manufacturer of promotional toys and candy. Which has five of its own plants and 11 contracted manufacturers. The company supplies 40 countries on three continents. When asked about the company’s revenue, Mirchandani said we expect a turnover of Rs 260-280 crore in the current financial year. In the next financial year we are expected to earn between Rs 400 and 450 crore.
Export worth 120 million rupees.
CTC manufactures candy toys for many companies including Colgate Palmolive, Puma, MTR, Bournvita, Yellow Diamonds, Vistara Airlines and AirAsia. He said that in this financial year, CTC expects to earn around Rs 120 million from exports and Rs 200 million from the domestic market, which includes its B2C sales and channel partners. When asked about fundraising, Mirchandani said we are already in talks with some big investors.
