Future Consumer Enterprises Ltd is known for its best quality goods at affordable prices among all sections of consumer world. Consumers rely on all on all the retail stores of Future group. The FMCG is the key revenue earner of the company. The history of the company shows the tremendous growth in the retail sector in short period. Being originally incorporated as “Subhikshith Finance & Investments Limited on July 10, 1996 and commenced business on August 2,1996 in Tamil Nadu, gained certificate of registration from RBI on March 9, 1998 to take on the business of a NBFC as a “non-deposit taking company.” On August 10, 2001, the company has changed to Subhikshith Finance & Investments Private Limited. The company was engaged in the business of granting loans and financing after receiving a granted certificate of registration on June 18, 2007. On July 14, 2007 Pantaloon Future Ventures Limited (“PVFL”) the wholly owned subsidiary of Pantaloon retail (India) Limited acquired 2,93,700 equity shares of face value of 10 each, constituting 100% of the total issued. In consideration of the purchase, PVFL paid an aggregate sum of 58 lakhs to R. Sankar, V. Thirumalai. Subhikshith became a wholly owned subsidiary of PVFL. Through a special resolution passed at the EGM of the company held on July 19, 2007, the name has been changed from Subhikshith Finance & Investments Private Limited to Futures Ventures Limited. The word private has been deleted further, upon ceasing to be a private limited company. The fresh certificate of incorporation was granted by ROC to the company on September 7, 2007. The company’s management includes Mr.Manoj Gagvani, Mr.Manoj Gagvani, Mr.Manoj Saraf, Mr.Frederic de Mevius, Mr.G N Bajpai, Mr.Jagdish Shenoy, Mr.Kishore Biyani, Mr.Krishan Kant Rathi, Mr.Vibha Rishi, Ms.Ashni Biyani.
Food and FMCG are two strengthen arms for FCEL to reach its target of growing annual sales fivefold to 10,000 crore in the next five years. The company has been creating the well accepted brands such as Tasty Treats range of ready to eat snacks, Biscuits & Cookies, Sauces, Ketchups to Sach personal care products and sells everything branded in between such as fruit juices (Sunkist Brand from Growers Inc USA), Clean Mate & Care Mate for Person Hygiene and House Cleaning Solutions. The company got many flexible for consumers to purchase the upcoming products like wide range of personal care products (‘Think Skin ‘brand), 25 types of branded enriched flours, wide range of bakery and dairy products under Niligiris. The company has planned to launch its own Oats products as it has started Oats factory in Sri Lanka.
Future Consumer Enterprise Ltd has made an announcement on May 25, 2015 regarding the acquisition of business. It has informed BSE that the company has entered into definitive agreements with Grasim Industries Limited, inter alia, for acquisition of their business undertaking engaged in the activities of skin care, baby care and home care wet wipes and hand sanitizers under the brands Kara, Puretta, Handys and Prim. This clearly indicates that the company has concentrated to increase its sales with branded FMCG products. The sales for quarter ended March 2015 has ended upto 782.05 crores from 113.52 crores in December 2014.
For the quarter March 31, 2015, the audited standalone results show that the sales or the income from operations is INR 7,770.621 whereas it is INR 874.796 million a year ago. Net loss for the period was INR 602.187 million against INR 154.75 for the same period a year ago. For the quarter, on a consolidated basis, the company reported net sales or income from operations of INR 3,515.713 million compared to INR 3,155.857 million a year ago. Consolidated net loss for the period was INR 496.867 million against INR 308.34 million for the same period a year ago. The promoters hold 55.45 crores of shares and the sales figure shows a tremendous hike in March ’15 as compared to Dec’14.
FCEL with its plans to increase the FMCG business to 10000 crores from present 1500 crore, stands as a best company to invest.