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    COVID surge: Maharashtra fast food restaurants under pressure, says Bectors Food

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    COVID surge: Maharashtra fast food restaurants under pressure, says Bectors Food

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    The Bectors Food stock has seen a fall of 45 percent from its peak. As COVID cases spike in the country and lockdown fears loom, CNBC-TV18 spoke to Anoop Bector, Managing Director at Mrs Bectors Food Specialities to assess the demand for packaged food.

    The Bectors Food stock has seen a fall of 45 percent from its peak. As COVID cases spike in the country and lockdown fears loom, CNBC-TV18 spoke to Anoop Bector, Managing Director at Mrs Bectors Food Specialities to assess the demand for packaged food.
    Bector said, “Still we are trying to understand the market, COVID situation is getting immensely bad and government is taking decisions on lockdowns, mini lockdowns, curfews at night. We are trying to understand the markets, trying to see well-being of our people who are working in the markets so I think it is preliminary yet to understand and forecast the market for FMCG products. Overall the demand is robust and things look okay for us.”
    He further added, “We feel our company shall be growing at the modest range of around 14 percent which we have forecasted in our business plan. Last year we had added up close to 100,000 outlets, this year again we have a very robust plan to add our number of retail outlets and increasing our supply chain. We are counting not on COVID to increase our sales, we are working on an infrastructure development that should be robust and should give us continuing sales growth.”
    Speaking about quick service restaurant (QSR) in Maharashtra Bector said, “For the QSR business Bombay markets, Maharashtra markets are definitely going to be bit under pressure since there is a lockdown, we are still trying to understand the situation and we shall be able to really get to it within a week or 10 days’ time.”
    On Mondelez business he said, “Company is doing well on Mondelez business, we are seeing the considerable growth in the contracting manufacturing business and we are on track as what we had planned.”
    Watch accompanying video for more.
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