Lotus Chocolate Company Ltd Company Summary

Lotus Chocolate Company Ltd Summary

Lotus Chocolate Company Limited (LCCL) was promoted in 1988 by T Sarada and Vijayaraghavan Nambiar. Company is well known as a reliable business partner for the supply of cocoa and chocolate products. Starting from the cocoa bean processing to delivering fine chocolates, the Companys fully integrated manufacturing facility is built with the best in technologies and expertise. At present, it is a subsidiary of Sunshine Allied Investments, Singapore. It works a factory in Doulatabad district of Andhra Pradesh.The company came out with its initial public offering in Oct.91, aggregating Rs 2.2 cr, to part-finance its Rs 8.4-cr project to manufacture cocoa and chocolate products for the export as well as the domestic market. It has a range of choco treats like Chuckles, Supercar, Tango Cashew, Tango Almond, Mystique Coffee and Mystique Orange. The company launched On & On sugar coated milk chocotreat in south India. LCCL was troubled by accumulated losses brought about by a delay of one-and-a-half years in the implementation of the project. LCCL retained Chocolate Confectionery Consultancy, UK, to provide technical services.The company has also entered into a marketing agreement with Cocoa Specialties, Malaysia, for the export of its entire production of cocoa derivatives and bulk chocolate.During the year 1999, a theme-based chocotreat - Kiddies and Pineapple Eclairs were launched and in the year 2000 three new products i.e. Maltys, Fun and Magi were launched and the consumer response has been encouraging.Reliance Consumer Products Limited has acquired 65,48,935 Equity Shares of the Company from the erstwhile promoters and was made the promoter and holding company on May 24, 2023.In 2023-24, Company had acquired the entire equity share capital of Soubhagya Confectionery Private Limited (SCPL), making SCPL a wholly-owned subsidiary of the Company with effect from May 25, 2023. Further to the petition filed by the Company, Tribunal vide its order dated August 8, 2024 SCPL has been amalgamated with the Company effective on August 8, 2024.In FY 2023-24, the Company has expanded its range of consumer products by launching products in confectionery and chocolate categories and also building up an omni channel distribution pathway in general retail, standalone chains and modern trade outlets. Company is also concentrating on the export of Chocolates and Cocoa Powder to Nigeria and United States of America.