Himalya now turns to Indian market

Himalya Internartional Ltd would soon launch its products in the Indian market through its tie-up with Reliance Fresh. The company was earlier supplying only to the overseas market, particularly the US, speciality products like mozarrella cheese and stuffed mushrooms.

The Chairman and CEO of the company, Manmohan Malik, said cheese, fresh mushrooms and yogurt would be supplied in punet boxes and distributed through refrigerated vehicles. "The specialised referigerated vans retain the moisture and freshness of the mushrooms.

The company would start its own distribution mechanism to source bulk users. We would also launch breaded mushrooms, breaded mozerrella sticks and breaded onion rings by April 2008.

Malik said all the products rolled out in the Indian market would be of same quality as exported to US and would cater to the niche market.

An investment of Rs 10 crore has been made to make these products and the plant for has been imported from the US," said Malik. Himalya International has its processing facility at Paonta Sahib in Himachal Pradesh.

The company is also doubling its capacity of mushroom production at Paonta Sahib.

"We would invest about Rs 35 crore by the end of this financial year to ramp up our capacities," added Malik.

He said that the expansion would be funded through banks and the company would also issue warrants to the promotors and strategic investors to be converted into equity.

The company is in the process of negotiating with other retail chains like Spencer and Big Bazar to market its products.

He added that the company is expected to record a turnover of Rs 50 crore this year and aims to register Rs 100 crore of turnover next year.