Foods & Inns, one of India’s largest fruit and vegetable pulpers, has reported that its net profit in the September quarter has more than doubled to ₹14 crore against ₹6 crore logged in the same period last year.
Revenue increased 44 per cent to ₹245 crore ( ₹171 crore).
The Ebitda has increased 73 per cent to ₹28 crore ( ₹16.2 crore).
The pulp tonnage sold has increased 14 per cent to 18,669 tonne from 16,430 tonne.
The company has got the Board approval for raising growth capital of ₹210 crore from investors including Florintree Digital LLP, Lotus Family Trust, Aeon Trading LLP, Silver Stallion, VSS Iron & Minerals and Siddhi Portfolio services.
Milan Dalal, Managing Director, Foods and Inns said, the company has diversified its portfolio into value added products and focused on accelerating production based on the demand growth in the market.
Moloy Saha, CEO, Foods and Inns said the company is working on waste conversion to wealth and reducing carbon emissions in various activities.
Tetra recart
“Our new operation of Tetra recart will be the first in India. It will serve as an innovative packaging solution to replace tins and provide shelf-stable products that can store not just liquids but any type of food category such as tomatoes, baked beans, vegetables based on dimension restrictions,” he said.
The company plans to manufacture pectin which will serve as a vegetarian alternative to gelatine and partnered with IDH, based out of the Netherlands, to help smallholder mango farmers address issues such as climate change, biodiversity and pesticide management.
Plans are afoot to collaborate with US-based college funds to help rural farmers in responsibly sourcing materials and enhancing yields, he said.