Tenali Double Horse Group Sets Aside Rs 25 Cr For Expansion

Hyderabad: Tenali (Andhra Pradesh)-based TDH (Tenali Double Horse) Group, a food processing company, announced its plan to enter new product categories, strengthen market presence of its newly launched millet-based products, and to expand its footprint internationally in the next two years, for which it has earmarked an investment of nearly Rs 25 crore.

During an event held in the city on Thursday, TDH Group launched Millet Marvels, a range of millet-based products, in the presence of Joint Managing Director of Apollo Hospitals Group, Sangita Reddy. At present, under Millet Marvels, 18 products have been introduced in the market, across four categories – grains, noodles, cookies, and ready-to-cook meals, with price ranging between Rs 95 – Rs 150, per unit.

The Company will initially focus on retailing its millet products in Andhra Pradesh and Telangana, followed by expansion, through franchise or company-owned stores across India and international markets such as the US, Canada, New Zealand, Australia and Gulf countries.

“As awareness about the benefits of including millets in our diet has increased, we made this conscious decision to foray into this category with Millet Marvels. At our processing unit in Tenali about 5 – 10 tonnes of millet grains are processed and packed every month. Right now we have invested only Rs 1 crore on the new packaging material, sourcing the grains, and other initial requirements. Going ahead we will invest about Rs 10 – 25 crore over the next two years,” Chairman and Managing Director of TDH Group, Mohan Shyam Prasad Munagala said. The Company will soon expand into categories including health mixes, diabetic-friendly foods, organic line, and freeze-dried fruits and vegetables.

TDH Group currently has six exclusive franchise stores in Andhra Pradesh. Depending on the market demand, Munagala said he will open, either franchise or company-owned, 50 stores in both the Telugu states over the next one year, wherein an investment of Rs 10 lakh goes into opening each store.