New Delhi: In a strategic move to fortify its footprint in the western and eastern markets, Goyal Salt Limited, a leading FMCG player that specializes in salt, is investing ₹80 crore to set up a large salt manufacturing plant in Gandhidham, near the salt capital of Kutch. This development marks a significant milestone for Goyal Salt as it prepares to focus on new markets. The expansion is part of the company’s long-term strategy to enhance its operational capabilities and support its extensive customer base in India.
The company currently works with more than 60 distributors in northern markets and has appointed distributors in Maharashtra, Gujarat, Assam, and Orissa. The company currently has a reach of 5000 retail outlets and is expecting to reach every household in the country in the next five years.
With a capacity of 4,50,000 MT and spread over 12 acres of land, the Gandhidham plant is at trial run stage and expected to be operational by end of January 2025.
Emphasizing the strategic importance of this expansion, Pramesh Goyal, Managing Director said, “The new facility in Gandhidham allows us to get closer to western and eastern markets in the country by reducing logistics cost and hastening the delivery of finished products to our customers. We would like to repeat similar success we had in Northern markets and both Western and Eastern markets and we are very confident that we will deliver good growth rates with the help of our distributors in this area.
The establishment of Gandhidham facility is another notable step in our ongoing journey to make Goyal Salt a household name in India. As we look forward, our plans include expanding beyond South.”
India is currently the 3rd largest salt producing country, a position that reflects its strong performance and growth potential. While, Goyal Salt has been focusing on increasing its production capacity, expanding its product portfolio and market presence.
The Indian salt market is expected to grow at a CAGR of 4.8% during 2024-2029. Driven by the increasing urbanization and changing consumer preferences, the premium salt segment is expected to show accelerated growth in the coming years.
About Goyal Salt Limited
Goyal Salt was incorporated in 2010, is India’s largest salt player in natural salt. The Company’s manufacturing facility is strategically located in Nawa City, close to the famous Sambhar LakeGSL produces premium industrial and edible salts which includes triple refined free flow Iodized Salt, Industrial Salt, Double Fortified Salt, and Triple Refined Half Dry Salt. The current capacity is 700 tonnes per day.
The company got listed on the NSE SME Emerge Platform on October 11, 2023.
For FY24, the Company had reported total income of ₹124.08 Cr and net profit of ₹9.45 Cr.
