Himalaya Food International

Himalaya Food International Limited's Chairman ManMohan Malik addressed shareholders at the 34th Annual General Meeting, reporting that the company has weathered its most difficult phase and is showing strong recovery signs. The company has adopted a diversification strategy to reduce dependence on single markets, responding to U.S. trade barriers by re-entering the Indian market and opening new export markets. A new French Fry processing line with 54,000 MT annual capacity is progressing on schedule for commissioning before March 2026. The company completed a successful Rights Issue and has discharged 78% of its One-Time Settlement liability with consortium banks, with the remaining 22% scheduled for payment within the financial year. The company is preparing contingency funding options including a second Rights Issue or Preferential Issue if anticipated land sales are delayed, aiming for a debt-free balance sheet. Legal proceedings continue against Simplot in Delhi High Court with plans for U.S. Federal Court action, and an insurance claim appeal has been filed against New India Assurance regarding the Vadnagar fire claim reduction.

Doon Valley Foods Private Limited disposed of 90,000 shares of Himalaya Food International Limited through off-market transactions, resulting in a 0.11% change in shareholding. The disposal was executed at Rs. 10 per share. Following the transaction, Doon Valley Foods' shareholding in Himalaya Food International decreased from 18.23% to 18.13%. The company filed the required disclosure under SEBI regulations for substantial acquisition of shares and takeovers. The disposal was completed on September 8, 2025, and the disclosure was submitted to BSE Limited on September 10, 2025.

Himalaya Food International approved un-audited financial results for the quarter ended June 30, 2025, showing revenue from operations of Rs. 1,022.20 lacs compared to Rs. 1,064 lacs in the same quarter last year, with profit of Rs. 259.22 lacs versus Rs. 88.16 lacs previously. The company utilized Rs. 37.15 crores from its Rights Issue, with Rs. 17.01 crores through loan conversions and Rs. 17.2 crores paid toward a Rs. 43 crore OTS with banks, completing 50% of the final OTS amount. The board addressed US tariff impacts on exports, noting positive customer responses to necessary price revisions. The company plans to diversify its marketing footprint globally and re-enter the Indian domestic market after a 12-year gap following a failed joint venture with Simplot. Installation of a new French Fries production line is expected to complete by December 2025, with production starting in February 2026. The board scheduled the 34th Annual General Meeting for September 30, 2025, and is considering legal action against Simplot for equipment-related damages.