Bambino Agro Industries has decided to sell its non-productive plants, machineries and other fixed assets located in Madhya Pradesh and Telangana for a consideration of Rs 16.65 crore. However, any agreement is yet to be executed and signed.
The company has decided to dispose of the plant at Indore Madhya Pradesh as it is lying idle since August 2016 and plant at Bibinagar, Telangana is giving insubstantial output that has escalated cost. The said assets contributed Rs 75.18 crore, which is 28% of the total turnover of Rs 269.80 crore achieved in the last financial year.
Bambino Agro Industries is primarily into the manufacture of pasta and food products such as vermicelli, macaroni etc. The company was promoted by M Kishan Rao and his business associates. Bombino is South East Asia’s largest vermicelli producer and a market leader in the Indian market. ‘Bombino has now become a Generic to ‘Vermicelli’ a barometer of a success story.
| Company Name | CMP |
|---|---|
| Varun Beverages | 474.05 |
| Nestle | 1285.65 |
| Britannia Inds | 5733.75 |
| LT Foods | 422.10 |
| Hatsun Agro Product | 979.20 |
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