Hindustan Foods Limited (1988) (HFL) was founded as a consequence of Dempo Group’s invasion into the Fast-moving Consumer Goods (FMCG) sector through a collaborative venture with Glaxo India Limited, with the aim of producing nutrition-giving food products.
Vanity Case Group purchased a controlling stake in 2013 in HFL from Dempo Group of Goa and since then the company has expanded across number of FMCG categories with manufacturing adroitness in food and non-food, broadening to Food & Beverages, Home Care, Personal Care, Leather Shoes and Accessories.
It desires to carry on supporting the consumption story of our nation via organic and inorganic diversification.
A subsidiary of Hindustan Foods Limited named ‘HFL Consumer Products’ has planned to invest Rs. 125 crore to establish a manufacturing facility in North India as a part of its target to multiply its revenue by more than twice to Rs. 2,000 crore by the 2021-22 financial year.
Hindustan Foods’ Managing Director Sameer R. Kothari stated- “The call for contract manufacturing in the FMCG industry is rising speedily. We are in incessant discussions for novel projects with our customers which encompass some of the forefront brands in this space.
“We are dedicated to our vision of attaining the target of Rs. 2,000 crore of revenue by FY2022 and we feel that all the Capex projects will play a crucial role in assisting us to accomplish this quantum leap.”
Revenue of Rs. 771.90 crore was reported by the firm in the fiscal year 2019-20.
HFL informed that the new unit is part of the company’s combined plans to widen its footprint in contract manufacturing room for the FMCG products.