Srivari Spices & Foods Ltd Company Summary

Srivari Spices & Foods Ltd Summary

Srivari Spices & Foods Limited (Formerly known Srivari Spices and Foods Private Limited) was incorporated on January 29, 2019 as a Private Limited Company issued by the Deputy Registrar of Companies, Central Registration Centre. Later on, Company converted into a Public Company and the name was changed to Srivari Spices and Foods Limited through fresh Certificate of Incorporation dated December 27, 2022 by the Registrar of Companies, Telangana at Hyderabad. The Company is engaged in the business of manufacturing spices and flour (chakki atta) and market it in and around Telangana and Andhra Pradesh. It handpick raw materials from various parts of the country and process these products with utmost care without use of artificial preservatives or chemicals, through creation a product portfolio of organic spices and flour, which carry the freshness and goodness of each ingredient. The business has two model first is direct to customer (D2C) in nature, wherein the Company deliver their products directly at the doorstep of customers using approximately 15,000 retail stores. Secondly it work in business to business (B2B), wherein it deliver products to the suppliers. The Company operate from 2 manufacturing units located in Telangana namely, Unit - I and Unit - II. It had business operations from Unit - I and had set up Unit - II to expand its manufacturing operations. Unit-II has been set up to manufacture Srivari Whole Wheat Atta and Sharbati Atta, thereby enabling to expand the product portfolio and customer base. In 2019, the Company started business operations by establishing a state of art production facility at Jalpally Village, Dist. Ranga Reddy, in Telangana and manufacturing turmeric powder (haldi), chilli powder (mirchi) and coriander powder (dhaniya). Thereafter, in 2020, the Company expanded business operations through diversification of product portfolio and manufacturing madras sambar masala, chicken masala, garam masala and mutton masala in pouches, boxes and bottles. In December 2021, Company expanded the business line by diversifying its product portfolio into madras sambar masala, chicken masala, garam masala and mutton masala in pouches, boxes and bottles. Further, in 2021, it expanded business operations by setting up a new manufacturing unit at Raikal Village, in Ranga Reddy District, of Telangana. In 2022, it launched a new class of product by manufacturing whole wheat flour (chakki atta). The Company raised funds through Initial Public Offer aggregating to Rs 8.99 Crore by issuing 21,42,000 equity shares through fresh issue in August, 2023.