Hindustan Foods Ltd - HINDUSTAN FOODS Share Price

Summary

Incorporated on 31st December, 1984 as a Public Limited Company, Hindustan Foods Limited (HFL) is promoted by Shashi K. Kalathil and Shrinivas V Dempo. The Company is primarily engaged in contract manufacturing of FMCG products comprising primarily of home care, personal care, foods & refreshments including fruit juice and aerated juice, packing of tea and job working of shoes.The Company came out with a Public Issue in Nov.87 to set up a food-processing unit at Ponda, Goa, with a capacity of 5000 tpa. Commercial production commenced in Jan.88 and the products were launched all over India only in Dec.88 under the Bonny Mix brand name. Glaxo which had participated in the equity of the company, apart from providing technical and marketing assistance to the company, withdrew their participation in 1992-93. The company was marketing its products under the brand name Bonny Mix, acquired from Glaxo. Due to the withdrawal of Glaxo, the company had a substantial fall in the sales volume, consequent to which, it started making losses. It had to close its operations from Dec.92 which was resumed in Dec.93. In 1994-95, HFL introduced two products - Bonny Meal Rice and Bonny Meal Fruit.The companys products were not well-accepted by the consumers. The weak marketing at the retail level further aggrevated the situation and the consumer off-take was very poor. All these prompted the company to discontinue the production again, in Jul.95. Reference was made to the BIFR, which has replied... Read More