FMCG major Britannia Industries is looking to set up a plant in West Bengal and make the existing one more productive, it’s Chairman Nusli Wadia said on Monday.
Replying to shareholders at the company’s AGM here, Wadia said: "We are looking at a new plant in Bengal. But it is not decided yet".
He further said that the existing plant at Taratola would be made more productive. The Calcutta factory is not a very economical one at the moment. We are trying for its improvement.
The company had gained market share over its competitors such as ITC and Parle, the Chairman said, adding that the principal business was that of biscuits.
On acquisition of new businesses, he said the company was sitting upon a good amount of cash.
"We are always scouting for new business. We have to find the right opportunity", he added.
Referring to its subsidiaries, Wadia said that these were primarily contract manufacturers.
He also said there was no rush to sell properties for cash.