MTR Foods
MTR Foods is a food products company based in Bengaluru, India. The company manufactures a range of packaged foods including breakfast mixes, ready to eat meals, masalas and spices, snacks and beverages.
| Type | Joint-stock company |
|---|---|
| Industry | Food |
| Founded | 1924 |
| Headquarters | , |
| Products | Spices |
| Revenue |  800 Crore (2016)[1] |
| Owner | Orkla Group |
| Website | www |
MTR Foods Pvt. Ltd. is a subsidiary of Norwegian conglomerate Orkla. MTR acronym of Mavalli Tiffin Rooms.
History
The company began with the establishment of the Mavalli Tiffin Room (commonly known as MTR) restaurant in Bangalore in 1924 by Yagnanarayana Maiya.
In 1975 when India was under emergency, a Food Control Act was introduced which mandated that food was to be sold at very low prices. This move made it difficult for MTR to maintain high standards in its restaurant business and forced it to diversify into the instant food business, selling ready-to-eat snacks such as chutneys and rasams.
In 1984, MTR expanded out of Karnataka to the southern states of Tamil Nadu and Andhra Pradesh.
In 2007, Orkla Group, a Norwegian conglomerate, acquired the packaged foods business of MTR Foods. [2]
Growth and profitability
The company is currently an approximately Rs 700 crore company [3] which is growing at a CAGR of 18%. The company has been listed as a Fortune Next 500 (India’s Top Midsize) company for 2016.
Business
In 2011, MTR launched a sub-brand called MTR SnackUp with a range of traditional South Indian snacks like Khara Boondi and Benne Murukku.[4]
in 2017 MTR launched a new brand called Laban[5].
References
- "MTR Foods eyes Rs 1,000-crore revenue in CY17". Business Standard. 13 April 2017.
- "Norway's Orkla acquires MTR Foods in $80-m deal". Business Line.
- "MTR focusses on south with innovative product". The Hindu.
- "MTR moves top stop reveal from snacking on its market share". business-standard.com.
- "MTR Foods introduces a new brand Laban, a delicious, stretchy, unique human-shaped candy".