Candytoy Corporate Eyes Rs 450 Crore Turnover Amid Global Expansion

Candytoy Corporate aims to achieve a Rs 450 crore turnover by next fiscal year, raising Rs 90 crore by divesting 10% equity. The Indore-based company plans to list on the stock exchange within three years. With significant y-o-y growth, CTC is expanding its manufacturing capabilities both domestically and internationally.

Candytoy Corporate, a leading manufacturer of candy toys for big brands like Colgate, Puma, and AirAsia, is targeting a turnover of Rs 450 crore by the next fiscal year, according to founder Director Gaurav Mirchandani.

To achieve this, the Indore-based company intends to raise Rs 90 crore by divesting 10% equity, valuing the company at Rs 900 crore. Mirchandani stated that Candytoy Corporate also aims to get listed on the stock exchange within the next three years.

CTC's robust growth plan includes opening new plants to meet increasing demand and entering new product categories like inflatables and bubble water toys. With 250 injection molding machines, the company manufactures 10.5 million candy toys daily and recently commenced operations at its third plant in Indore and a new plant near Dubai, UAE.

(With inputs from agencies.)