Satchmo Holdings, through its wholly owned subsidiary, has successfully commissioned its manufacturing facility (Food Factory) for production of packaged food items, including idli & dosa batter, ready-to-make-chapati, sweets and other snacks items. The subsidiary has commenced operations and started production for sampling and testing purposes and upon successful completion of this initial phase, its first set of packaged food products is expected to be launched in the market during this quarter.
The company has also made a substantial capital expenditure (CAPEX) investment in the subsidiary towards establishing the initial production capacity of the aforesaid food manufacturing facility, which forms a significant part of the company’s strategic expansion into the food industry and its future growth plans.
Satchmo Holdings is a real estate developer and has recently changed its objects and has added new lines of business.
