HyFun Foods Makes in India – International Food Products for Global markets – Eyes revenue of INR 1500 Cr.
The company will be clocking a turnover of about INR 500 crore this fiscal, while exporting over 70 per cent of its products to more than 20 countries
New Delhi: HyFun Foods, in just 5 years, has emerged as a leading producer & the largest exporter of French Fries & Potato Specialties from India and would clock a turnover of about INR 500 crore this fiscal year with more than 70% of the revenue coming from exports. Further, HyFun aims for 25% year-on-year growth to reach annual revenue of INR 1500 in the next 5 years, majorly driven by exporting frozen potato snacks to over 20 countries. In line with the growth plans, the company will be increasing the manufacturing capacity of processing potato to 3,50,000 tonnes resulting in finished frozen products of 2,00,000 tonnes.
Hyfun foods started its export journey by participating in exhibitions in Russia and gradually expanded to Middle East, Thailand, and then most of Southeast Asia. Today, HyFun holds 60% of the total exports’ share of French Fries from India. The company manufactures premium quality potato-based ready-to-cook frozen snacks, both internationally popular ones like French Fries, Wedges, Hashbrowns, nuggets, etc. There is also an array of popular Indian snacks like Aloo Tikki, Mumbai Aloo Vada, Vegetable patties, Sabudana patty, etc.
HyFun operates an integrated seed-to-shelf business model. The quality of its products is ensured by sourcing the best quality potatoes by having a strong backward integration with the in-house seed multiplication program and procurement through contract farming, working closely with more than 2500 farmers. The company, backed by a workforce of about 500 employees, has invested INR 250 Crore to build a state-of-the-art processing facility (capacity: 175,000 tonnes of potato per annum) in Mehsana near Ahmedabad, Gujarat in India. Apart from establishing a strong network in the Food Service/HoReCa segment, the company supplies to QSRs like Burger King, KFC, Pizza Hut, Carl’s Junior, and Café Coffee Day. In the consumer segment, the company does white label production for several reputed brands. The company has recently launched its products in the Retail segment starting with 6 cities, and is looking to expand nationally in the next few years.
Commenting on the same, Mr. Haresh Karamchandani, MD, and CEO, Hyfun Foods, said, “We are one of the largest manufacturers and exporters of French fries (capacity: over 65,000 tonnes) in the country and are looking to clock a turnover of about INR 500 crore during this fiscal year. We aim to produce products for the world while helping India grow. More than 2,500 farmers spread across North Gujarat are growing potatoes for us in around 13000 acres of land under our contract farming model, resulting in assured incomes for our growers. We have adopted the best available technology in the world in our processing plant, which is AA grade BRC certified. Exports will continue to be an integral part of our business strategy, and we are extensively working to further expand our footprint in the global
HyFun takes pride in its best-in-class infrastructure, where complete automation ensures that the final products are untouched by hand. The manufacturing practices and hygienic excellence match global standards, leading to the acceptance of HyFun products by customers across the globe.
HyFun has been instrumental in opening the doors of opportunity and create recognition for India as a reliable supplier of frozen French Fries and Potato specialties. The brand’s acceptance in the export markets as a global standard product has unlocked a massive potential for India to become an export hub to cater to entire Asia. The company is looking to capitalize on this opportunity and plans to expand the processing capacity from 125000 MT to 350000 MT per annum with a fresh investment of about INR 350 crore.