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Hindustan Foods announces capex of Rs 125 cr in Northern Region

Tuesday, 22 Dec 2020
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Hindustan Foods (HFL), an FMCG contract manufacturer, will be undertaking a capital expenditure of Rs 125 crore in the Northern Region of India, via its wholly-owned subsidiary, HFL Consumer Products. 
In August 2020, the Board of Directors of HFL had approved an investment of up to Rs 100 crore in HFL Consumer Products for incurring capital expenditure to commence their business.
The WOS will be setting up a food & beverages manufacturing facility for a leading FMCG brand. 
The work for the said facility will commence from Q4/FY21 and commercial production is expected to begin from Q4/FY22. 
The new facility is part of company’s consolidated plans to expand its footprint in contract manufacturing space for the FMCG products. The capex by the WOS is likely to be funded through combination of internal accruals and debt. 
Earlier in 2020, the company had planned an investment of Rs 30 crore for setting up two home care liquid manufacturing facilities in Silvassa for a leading brand.
Despite the COVID restrictions and lockdowns, one of the facilities was set up in a record time and commercial production for the same commenced in September 2020. This facility is expected to reach optimal capacity utilisation by the end of FY21. 
The second facility is under construction and commercial production is expected to begin from Q4/FY21. 
In November 2020, the Board of Directors had also approved an investment of Rs 150 crore in the Hyderabad facility for manufacturing of home and personal care products. The project work for the same has commenced and is progressing as per schedule. 
The work for the said facility is expected to be completed by Q3/FY22. The company has targeted Rs 2,000 crore revenue by FY2022.
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