SKM Egg Products Export (India) Ltd., as part of its growth strategy, is planning to expand its global footprint and at the same time, roll out its products pan India.Right now, the Erode-based company is selling its products in Japan, Europe, Russia, Central Asia and South East Asian markets. Last fiscal, it exported products worth ₹200 crore out of the total revenue from operations of ₹272 crore.Recently, the company submitted samples of its liquid and powder products to Philippines and Malaysia customers and they have been approved. Shipments to these destinations are expected to commence by year end, the company said in its annual report.The company said that it re-entered Saudi Arabia market and started supplying egg powder from April onwards. Apart from this, Iranian customers have approved the samples. Shipments will start shortly, subject to getting necessary approvals.Besides, the company plans to enter new markets of Africa and Singapore and working on to identify more customers in Nigeria, Russia, Korea and Europe, to expand its sales in these markets by FY21.While pointing out that it is very difficult to enter Japan, Russia and Europe markets where USA and European suppliers are delivering at competitive prices, the company said that its marketing and sales team has successfully established its presence in these markets by selling products at competitive prices.“We are the first Asian company in egg product sector to enter Russian market in 2015-16. And now Russia is our customer for our egg yolk variants. We are exporting around 60% of our egg yolk powder variants to Russia only,” the company said.“Apart from the above, we have successfully entered domestic market with innovative egg products such as egg albumen cube, retail and whole sale pack of egg liquid variants and egg protein health drinks. There is good demand for these products in the domestic market and we propose to go pan India in the coming years,” the company said.For the year ended March 2020, the company’s net profit contracted to Rs.5.30 crore from Rs.6.05 crore due to the pandemic.
You have reached your limit for free articles this month.
To get full access, please subscribe.
Already have an account ? Sign in
Show Less Plan
Subscription Benefits Include
Today’s Paper
Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.
Faster pages
Move smoothly between articles as our pages load instantly.
Unlimited Access
Enjoy reading as many articles as you wish without any limitations.
Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.
Personalised recommendations
A select list of articles that match your interests and tastes.
Briefing
We brief you on the latest and most important developments, three times a day.
*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.
