NHC Foods Diversifies with Strategic MoU with Lotmor Brands
NHC Foods Limited has signed an MoU with Lotmor Brands to manufacture beverages under the 'Nature Day' brand, expanding beyond agricultural exports. The move is part of a strategy to enter India's retail sector, spurred by a 63.1% revenue increase and strong financial performance.
- Country:
- India
Mumbai, July 28: NHC Foods Limited, a leading agricultural commodities exporter, has signed a Memorandum of Understanding (MoU) with Lotmor Brands to manufacture beverages under the 'Nature Day' brand. This expansion marks a strategic shift beyond NHC's traditional agricultural export business.
NHC intends to leverage this partnership to enter India's organized retail sector, capitalizing on the demand for packaged beverages and FMCG products. The company's financial performance has shown robust growth, with a 63.1% revenue increase, suggesting promising prospects.
The company's leadership transition, including Satyam Joshi's promotion to Managing Director, aligns with its diversification strategy. An Extraordinary General Meeting recently approved an increase in the company's authorized share capital and issued convertible warrants to Mr. Joshi, signaling confidence in its future.
(With inputs from agencies.)
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