FAVO or EASTERN FOODS PRIVATE LIMITED has such a diverse product portfolio. How do you see the demand of your products?
FAVO is one of the leading producers of pasta, vermicelli, chakki atta, sooji, soya chunks and a variety of products with around 44 stock keeping units. Apart from FMCG, we are also into business to business. We are supplying our products to Britannia, Parle G, Top Ramen and many others. There has been a constant increase in the consumption of the items we are manufacturing. We are also adopting new technologies and adding more capacity to cater to the market demand.
You have a growing popularity in the households. How are your products different from others available in the market?
As a company, we stand out from others in fulfilling our commitment towards our consumers and that is to deliver healthy and nutritious packaged food items. Our ingredients are completely free from any kind of artificial flavouring or preservatives.
As inflation is on the rise, do you see this affecting your business? What other challenges do you face in this competitive business?
We are into food processing and our main ingredient is grain. Prices of our products are hiked only when there is a rise in grain prices. I personally feel good when the grain prices surge as the benefits mostly go to farmers, who are an important part of society. In regards to its affect on our costs, we adjust the price as per the fluctuation of raw material cost. One of the biggest challenges we face is finding knowledgeable and hard working people. Many are highly qualified and certified but lack understanding and basic common sense. We had to train them to understand our business model. Business is all about correct decision making applied with good presence of mind.
This brand was started from a small town of Kendrapara in 1988. Where do you see your organisation in the future? Are there any new products in the pipeline?
We are aiming to become a national level company operating all over India. There are many products in the pipeline which will be brought to your notice shortly.
As the director of this food processing firm, what advice do you have for the entrepreneurs venturing into this field?
In a business, vision, resilience and innovation are three key attributes that make one successful. Keep the never give up attitude, don’t take anything personally and don’t go against your principles. Be patient and keep moving as there is no shortcut to success.