Himalya International has inked memorandum of understanding (MOU) with J R Simplot Company, USA to form a joint venture (JV) in India. The JV will start with marketing of Himalya’s frozen French fries, breaded and battered appetizers and snacks. J R Simplot will also provide technical assistance for growing specialty potatoes and processing of all products.
Himalya International reported a net loss of Rs 1.52 crore for the quarter ended March 31, 2011 against net profit of Rs 1.76 crore for the quarter ended March 31, 2010. The company has reported net sales / income from operations of Rs 17.87 crore for the quarter ended March 31, 2011, up by 10.51% against Rs 16.17 crore for the quarter ended March 31, 2010.
For the year ended March 31, 2011, a rise of 1.75% has been seen in the company’s net profit at Rs 16.32 crore against Rs 16.04 crore for the year ended March 31, 2010. The company has reported net sales / income from operations of Rs 85.32 crore for the year ended March 31, 2011 against Rs 72.62 crore for the year ended March 31, 2010, up by 17.49%.
Himalaya International operates as a frozen food company in India. The company manufactures and sells mushrooms, vegetables, cheese, yogurts, appetizers, snacks, and sweets, as well as baby potatoes and buffalo cheese.
J R Simplot, a multibillion dollar US giant in agriculture and potato processing is the pioneer of frozen French fries in the world.
