HyFun Foods, a leading manufacturer of frozen potato products, has announced intentions to allocate around Rs 850 crore to develop three new plants in Gujrat.
This strategic growth initiative is geared towards reaching a yearly revenue goal of Rs 5,000 crore by 2028. Additionally, the corporation is planning to allocate Rs 150 crore for the development of a water treatment facility in Gujrat.
HyFun Foods currently runs five potato processing facilities in Mehsana, each capable of producing 2.5 lakh tonnes annually. The company provides a variety of frozen ready-to-cook snacks to customers like Burger King and KFC.
The potato flakes plant is currently under construction and is scheduled to start operating within the year. The french fries and specialized potato products plants are anticipated to be operational by the conclusion of 2025, as stated by Haresh Karamchandani, the MD and CEO of HyFun Foods.
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Karamchandani said, regarding the financial path of the company, forecasting turnover of approximately Rs 1,300 crore for the ongoing fiscal year, a rise from the previous year’s Rs 1,000 crore. With exports making up 70 percent of the turnover, the goal is to equalize domestic and international revenues by 2028.
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