Company Overview
The company is a renowned producer of various food products such as Tutti Fruity (also known as "Papaya Preserve"), Karonda Cherries, Sweet Lime Peels, Orange Cut Peels, Hulled Sesame Seeds, Jams, Sauces, Spices, Chikkis (Fruity Bars), Pickles, Papads, Canned Vegetables, and Frozen Fruits & Vegetables.
- The company has three units located in Maharashtra with a production capacity of 8 to 10 MT per day.
- It exports these items to the Middle East and European countries, and 80% of their business comprises of exports while the rest is domestic sales in India.
- Their clients include ice cream factories, bakeries, sweet and namkeen factories, airline companies, railway catering, and the Indian military.
- The company imports Unshelled Almonds, Pistachios, Irani Dates, Irani Saffron, and spices from China, Vietnam, and Indonesia.
- For FY22, revenue, EBITDA, and PAT was USD 7.2 million, USD 0.54 million, and USD 0.21 million respectively. Additionally, total assets were worth USD 5 million and net worth stood at USD 1.9 million
Product or Technology Overview
- Tutti Fruity is the company’s flagship product, which they manufacture using papaya and export to over 40 countries.
- They are the world's largest manufacturers of Tutti Fruity and can produce up to 100 tons of it per day. They supply Tutti Fruity to cake manufacturers in countries like the Gulf, US, and South American countries.
- It also offers a range of products such as roasted makhana, candies, bakery ingredients, and jams.
What the Company is looking for?
Target Country:
Opportunity:
The company requires USD 3.6-4.8 million in equity to expand their business, distribution channels, and sales. The promoters are open to divesting by 10-15% to secure investment.
The major stakeholders are not interested in diluting their shares as the company has been in operation for over 30 years. The final decision regarding the investment will depend on the valuation.
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