Thursday, May 23, 2024

Integra Essentia plans Major Expansions and Diversification

Integra Essentia Ltd. announced that, since the company acquired the processing facility under a Joint Venture agreement in August 2022, the Bareilly unit has processed 2200 MT of rice for the Food Corporation of India (FCI), supplying the product across various allocated FCI locations.

The company has also induced fresh working capital to the tune of Rs 1.25 crore following the acquisition of stakes in the Bareilly unit to enhance the rice processing business, which has resulted in an addition of Rs 4.6 crore to the Manufacturing Top Line over the last four months.

The company will continue to invest in the Rice Processing business in a phased manner as the facility’s business grows.

The company has also decided to form a specialised team to expand its export business, beginning with the Middle Eastern market, which serves as a global distribution hub for rice to more than 20 countries.

Integra Essentia Limited previously announced that it acquired a substantial stake in the Rice Processing Facility in Bareilly, Uttar Pradesh, through a Joint-Venture Agreement with the existing stakeholders, with Integra Essentia currently holding 66% stakes in the Joint Venture entity.

company has entered into MoU to acquire substantial stake in On Door Concepts Private Ltd, a company engaged in the business of multi brand retail stores.

Ondoor is like Mini D’Mart of small towns which has already gone deeper into tier 3, 4, 5 towns to be the first mover with Modern Trade benefits with over100+ Stores in 45 cities/towns.

Integra Essentia Limited has recently announced that it received orders for over Rs 110 Million for supplying Premium Dry Fruits.

“Supply for these orders shall be completed in next couple of fortnights, which will help the company in exceeding the targeted sales for the Q2 of the current financial year,” a company statement said.

Recent Articles

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Stay on op - Ge the daily news in your inbox