himalya food international

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  • #14424
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    hi another potential multibagger, fundamental not very great like bcg but worth taking risk only for high risk takers. postives in nutshell— stock in food processing sector, low equity, debt 180 cr to be paid as ots of 80 cr by dec 22.. few favorable court cases may come.. risk- if debt not paid by 22, corporate gov issues like recently company did not pay maintence fees to bse so trading was stopped few days.. its not fill it and forget it stock like bcg u fill it once it jumps x2 or x3 take profit out . about the company iam pasting from screener belo
    ABOUT [ edit ]
    Himalaya Food International is a food processing company engaged in growing & processing of mushrooms and manufacturing IQF ready to eat items. [1]
    KEY POINTS Product Portfolio
    The Co. is engaged in growing and producing 100% all-natural, vegetarian products like Mushroom, French Fries, Potato Products, Appetizers, Speciality Cheese & Butter, Ice Cream Breads and Curries etc. [1]
    Segment Revenue
    Agriculture Division: 18% in FY21 Vs 36% in FY20
    Manufacturing Division: 82% in FY21 Vs 64% in FY20 [2] [3]

    Geographical Split
    Domestic Sales: 39% in FY21 Vs 65% in FY20
    Outside India: 61% in FY21 Vs 35% in FY20 [4]

    Manufacturing Capabilites
    Mushrooms: 10,000 tons
    French Fries: 25000 tons
    Potato Products: 9000 Tons
    Appetizers: 9000 tons
    Specialty Cheese & Butter: 5,000 Tons
    Canned Products: 30 Million
    Speciality Ice Cream: 30 Million Lt
    Indian Breads & Curries: 1,500 Tons
    Indian Sweets & Samosas: 1,500 Tons [5]

    Product Development
    The Co. engaged the Directorate Mushroom Research Center (DMR-ICAR) to assist in the development of high valued functional and medicinal mushrooms using its existing infrastructure for steam sterilisation and UV protected inoculation. It has now developed a nutritionally dense ‘Portobello Vegan Jerky’ in five flavours. The Co. developed the process by infusing our portobello mushrooms with Vitamin and then marinating these morsels with therapeutic ayurvedic herbs and spices. [6] [7]

    OTS of Debt
    All the lenders of the Co. had approved for an OTS (One Time Settlement) for 82 Crores against the outstanding amount of Rs. 181 crores. The Co. had requested the banks to extend the period over which the remaining balance is due. The Banks have accepted the Co.’s request and have extended the period of Payment of balance OTS amount up to Dec 2022. The State bank has also accepted the request of the Co. to issue NOC for the sale of non-core assets to pay the OTS amount. [8][9][10]

    JV Dispute
    The legal battle with the American JV partner got concluded at Singapore Arbitration in March 2020 & the Co. resumed the possession of the premises along with two potato processing lines at Vadnagar. The JV partner defaulted on the Award in April last year by not returning key components & equipment within the specifically defined period of three weeks. The matter of compliance to the three point award
    is pending at Delhi High Court besides the appeal for damages for abandonment. [11]

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