Ahmedabad, June 5, 2025 – Himalaya Food International Ltd., a leading integrated food processing company specializing in mushrooms, French fries, and an extensive range of frozen and canned foods, announces a strategic transformation that combines financial revival, operational upgrade, and global market expansion.
Resilience after a Decade of Setbacks
The company has demonstrated extraordinary resilience after a challenging decade marked by a failed joint venture, an eight-year-long international arbitration in Singapore, pandemic-related disruptions, and a major fire at its flagship Vadnagar plant in May 2022. In a critical turnaround milestone, Himalaya Food successfully secured a one-time settlement (OTS) with a four-bank consortium for ₹98 crore, of which ₹59 crore has already been paid. The remaining ₹39 crore will be paid by September 2025, supported by fresh capital and asset monetization.
Rights Issue to Fuel Strategic Revival
To support this transformation, Himalaya Food has launched a Rights Issue of ₹40 crore, approved by SEBI. The issue opens on June 3, 2025, and closes on June 18, 2025, with June 13 as the last date for market renunciation. Proceeds will be used to:
- Repay secured loans under the OTS
- Adjust promoter group unsecured loans against their entitlements
- Fund general corporate purposes and working capital needs
Promoters are fully participating in the issue, reflecting strong alignment with the company’s future.
Upgrading Infrastructure and Scaling Operations
The Vadnagar facility in Gujarat is undergoing massive infrastructure enhancement, including the installation of a state-of-the-art 10 TPH French Fry Line imported from Europe, expected to be operational by October 2025. This plant, among India’s largest mushroom farms (30 TPD expandable to 50 TPD), also houses:
- 55,000 TPA French fry line
- 12,000 TPA frozen appetizer line
- Modern processing for baked potato skins, hash browns, patties, garlic toast, and French toast sticks
The Paonta Sahib unit in Himachal, focused on appetizer production, will be gradually consolidated into the expanded Vadnagar plant.
Strategic Global Alignment
With its U.S.-based distribution arm Himalaya International Inc. (DBA: Global Food Trade) in Wyoming, Himalaya Food is strategically positioned to tap into the global shift in sourcing preferences. Rising tariffs on Chinese imports have opened up significant opportunities for Indian exporters. Himalaya’s tariff-advantaged and quality-focused products are gaining traction with U.S. food service giants and retail chains.
Leadership with Vision
Under the leadership of Mr. Man Mohan Malik, Chairman and Managing Director, the company is focused on innovation, operational excellence, and customer-centric growth. With over 50 years of experience across mushroom farming, potato processing, and global food exports, Mr. Malik’s vision is pivotal in driving Himalaya’s revival.
Looking Ahead: A Two-Phase Strategy
Phase I (FY 2025–26) – Fix the Basics
– Complete OTS payment
– Revive operations and upgrade infrastructure
– Launch the new French fry line
– Rebuild management team and restore U.S. and domestic market confidence
Phase II (FY 2026–27) – Full-Scale Take-Off
– Consolidate production at Gujarat
– Maximize plant capacities
– Deepen U.S. market penetration
– Expand value-added frozen product portfolio
