NHC Foods Signs Mou With Lotmor Brands, Eyes Diversification, Retail Growth, Appoints New KMPs
Mumbai (Maharashtra) [India], July 28: NHC Foods Limited (BSE: 517544), a leading exporter of agricultural commodities and spices, has entered into a strategic Memorandum of Understanding (MoU) with Lotmor Brands, marking a significant move in the company's growth and diversification strategy.
This grants NHC Foods the rights to manufacture a range of beverages and similar products under Lotmor's 'Nature Day' brand. The strategic move aligns with NHC Foods' strategy to diversify its portfolio beyond exports and agricultural commodities.
The company plans to leverage this tie-up to expand its footprint in India's organised retail sector, with a focused entry into leading chains. NHC aims to capture the growing demand for quality packaged beverages and allied FMCG products driven by evolving consumer lifestyles and preferences.
Commenting on the MoU, Satyam Joshi, the newly appointed Managing Director of NHC Foods Limited, said, "This MoU with Lotmor marks a defining moment for NHC Foods as we step into India's thriving retail sector. Our strengths in manufacturing, quality assurance, and distribution, combined with Lotmor's product innovation, will enable us to deliver exceptional value to the consumers. This is the beginning of a long-term transformation for us.
Highlights:
* NHC Foods Limited has entered a strategic MoU with Lotmor Brands Private Limited to manufacture beverages and similar products under Lotmor's 'Nature Day' brand, marking its diversification beyond exports and agri-commodities.
* Financial performance for FY 2024-25 shows strong growth, with revenue rising 63.1% to Rs. 341.41 crore and net profit increased 184.7% to Rs. 6.69 crore, reflecting operational efficiency and business momentum.
* An EGM held on July 18, approved increasing authorised share capital from Rs. 65 crores to Rs. 100 crore and issuing 6.5 crore convertible warrants on a preferential basis to Mr. Joshi."
Mr. Joshi's elevation from Executive Director to Managing Director follows the company's strategic shift under new leadership. An Extraordinary General Meeting (EGM) recently approved several resolutions, including an increase in authorised share capital from Rs. 65 crore to Rs. 100 crore, and the issuance of 6.5 crore convertible warrants on a preferential basis to Mr. Joshi.
Separately, the Board of Directors of NHC Foods has approved the appointment of Manoj Kumar Sharma as the Company's Chief Financial Officer. At the same time, Vijay Thakkar has been appointed as the Company Secretary and Compliance Officer. Both appointments took effect on July 16.
Financially, NHC Foods continues to demonstrate robust performance. The company's revenue for the financial year 2024-25 was Rs. 341.41 crore, representing a 63.1% increase over the previous year's revenue of Rs. 209.24 crore. The company's net profit jumped by 184.7% from Rs. 2.35 crore to Rs. 6.69 crore, reflecting enhanced growth and operational efficiencies.
Disclaimer: This document contains forward-looking statements, which are not historical facts and are subject to risks and uncertainties such as government actions, local developments, and technological risks. The Company is not responsible for any actions taken based on these statements and does not commit to publicly updating them to reflect future events or circumstances.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
26 minutes ago
- India Today
PMC Bank sanctions Rs 87 crore loan, releases Rs 0, dues balloon to Rs 150 crore
In what appears to be a textbook case of institutional failure and financial engineering gone wrong, a forensic audit has exposed a shocking gap between sanctioned credit and actual disbursement in a high-stakes case involving Punjab & Maharashtra Co-operative (PMC) Bank and a real estate audit reveals that PMC Bank formally approved loans amounting to Rs 87.5 crore for Prithvi Realtors and Hotels Pvt. Ltd., but no actual money ever left the bank's vaults. Yet, interest charges kept accruing over the years, pushing the so-called 'outstanding' to over Rs 150 by Deepak Singhania & Associates, Chartered Accountants, the audit was commissioned in the context of an ongoing arbitration dispute. The firm reviewed key financial records—loan approvals, mortgage documents, and account statements—all pointing to one disturbing reality: not a single rupee was transferred to the borrower's account after October 2012. The original facility began as a Rs10 crore mortgage overdraft. It was subsequently ramped up to Rs 87.5 crore, allegedly secured against a 53,680 sq. m. plot in Vasai, Thane. But post-sanction, the trail goes cold. No debit entries. No fund movement. Just rising interest liabilities on an empty audit report strikes hard and says, 'There is no substantiation of disbursement. No transaction entries. No repayment history. What exists is interest on a non-existent principal.'The issue took a darker turn when an arbitration tribunal reviewing the same case described the situation as deliberate deception. The panel flagged instances of forged documents, impersonation, and wilful misrepresentation, categorising the case as 'premeditated financial fraud of serious magnitude.'Citing landmark Supreme Court judgments, the tribunal declared itself unfit to adjudicate, emphasising that fraud of this scale lies outside the scope of the matter has escalated to the National Company Law Tribunal (NCLT), where legal arguments are set to revolve around the enforceability of a liability created without a corresponding experts suggest that this case may become a benchmark for identifying synthetic debt traps—where sanctioned loans never materialise, yet borrowers are legally chased for repayment on paper-based its core, the audit report exposes a dangerous financial loophole: a system where loans exist only in documentation, but the liability is real, enforceable, and crushing. And unless reined in, such mechanisms can destabilise the very foundation of responsible lending.- Ends
Time of India
41 minutes ago
- Time of India
Company seeks extension for biomining of legacy waste in Brahmapuram
Kochi: The contracting company has requested an extension for completing biomining of waste piled up in Brahmapuram. Bhumi Green Energy Corporation approached Kochi corporation, stating that financial difficulties due to delayed bill payments and impact of heavy rains prevented completion of biomining within the scheduled time. The contract for biomining in Brahmapuram was signed between corporation and Pune-based Bhumi Green Energy on Nov 4, 2023, with a duration of 16 months, which ended in March 2025. Although the company continues biomining, corporation has not extended the contract duration. In this context, the company submitted a letter to corporation requesting an extension. The council meeting to be held on Wednesday will decide on the matter. Initially, cost for processing and removing 7,00,000 tonnes of waste was estimated at Rs 118 crore. However, with the increased waste volume in NIT Calicut (NITC) survey, the cost rose to Rs 142 crore. Mayor M Anilkumar said around 90% of biomining was completed. Corporation states that the 16-month duration was determined based on a survey report estimating 7,00,000 tonnes of legacy waste in Brahmapuram. However, NITC survey found 10.54 cubic metres (8,44,000 tonnes) of waste. Biomining contract was awarded at a rate of Rs 1,690 per tonne.
Time of India
41 minutes ago
- Time of India
Vidyut Sakhis net over 11-time jump in revenue for UP
Lucknow: If revenue generation was any measure of the success of any project, then the 'Vidyut Sakhi' programme of the UP govt may well qualify to be in the spotlight. Records show that the revenue collected in the form of electricity bills by 'Vidyut Sakhis' registered more than an 11-time jump from just Rs 87 crore in 2021-22 to Rs 1,045 crore in 2024-25. Tired of too many ads? go ad free now In the first quarter of 2025-26, electricity bill collection under the ambitious programme has already reached a mark of Rs 256 crore. It is expected to soar well beyond the 2024-25 collection. Initiated during the Covid pandemic, the programme of the rural development department was projected as a key initiative to provide employment to women in rural areas. It was conceptualised at a time when rural economies were severely stressed due to reverse migration and job losses. By engaging women from rural self-help groups (SHGs) in bill collection duties, the govt not only aimed to fill a critical service delivery gap in electricity revenue realisation but also created a new income stream for women with limited access to formal employment. UP state rural livelihood mission (UPSRLM) data show that the programme consistently amplified its ambit across rural areas with revenue generation rising from Rs 87 crore in 2021-22 to Rs 262 crore in 2022-23, to Rs 466 crore in 2023-24, and eventually Rs 1,045 crore in 2024-25. In all, around 15,000 active vidyut sakhis have managed to collect revenue of over Rs 2,000 crore for the state govt to date. Close to 30,000 women are registered with the UPSRLM under the programme. Officials said that the UPSRLM trained another batch of around 14,000 women for deployment as Vidyut Sakhis. In the financial year 2024-25, the Vidyut Sakhis received about Rs 13.4 crore as commission. Moreover, they collected electricity bills worth Rs 303 crore under the OTS scheme. Tired of too many ads? go ad free now In return, they got a commission of Rs 3.5 crore. As many as 438 Vidyut Sakhis succeeded in becoming 'Lakhpati Didi', an initiative aimed at empowering women in SHGs to achieve an annual household income of Rs 1,00,000 or more. Experts said that it was not just about the financial aspect but also about enabling sustainable livelihoods and a better standard of living for these women. The initiative encourages women to adopt various income-generating activities and provides them with the necessary support and resources. The over 11 times increase in revenue recovery, experts said, illustrated two takeaways: scalability and efficiency of the model, and trust and reach of Vidyut Sakhis within their communities.
