Hindustan Foods to set up a new manufacturing plant in North India
Hindustan Foods Limited (HFL) has announced that it will be undertaking a capital expenditure worth Rs 125 crore in the Northern region of India through its wholly-owned subsidiary, HFL Consumer Products Private Limited.
The wholly-owned subsidiary will be setting up a food & beverages manufacturing facility for a leading FMCG brand. The work for the given facility will commence from Q4FY21 and its commercial production is expected to begin from Q4FY22.
The company has set a goal of achieving Rs 2,000 crore of revenue by FY2022 and it seems that these Capex projects will play a key role in helping it reach this milestone.
The company reported a net profit of Rs 8.4 crore in Q2FY21, an increase of 71 per cent. It had reported a profit of Rs 4.9 crore in Q2FY20. The company reported gross revenue of Rs 318.4 crore for Q2FY21, an increase of 85 per cent as against the total income of Rs 172.5 crore for Q2FY20.
Hindustan Foods Limited is a manufacturer of nutritional food products. The company has diversified across various FMCG categories with manufacturing competencies in food & non-food, extending to cosmetics, personal care, and home care products. HFL was established in 1988 as a result of Dempo Group’s foray into the FMCG segment through a joint venture with Glaxo India Limited, with the objective of manufacturing nutritional food products.
In 2013, Vanity Case Group bought a controlling stake in Hindustan Foods Limited from Dempo Group of Goa and since then the company has diversified across various FMCG categories with manufacturing competencies in food and non-food, extending to Personal Care, Home Care, Food & Beverages, Leather Shoes, and Accessories.
