HyFun Foods to Invest ₹1,500 Crore in Greenfield Frozen Potato Plants in Gujarat and Madhya Pradesh
HyFun Foods, a manufacturer and exporter of frozen potato products, is investing ₹1,500 crore to set up two new greenfield manufacturing units in Gujarat and Madhya Pradesh, aimed at expanding capacity to support growing exports and domestic demand.
The first facility, located near Ahmedabad in Mehsana, Gujarat, involves a capital outlay of approximately ₹1,000 crore and is expected to become operational by January 2027. The company currently operates five manufacturing units in Gujarat.
Following commissioning of the Gujarat plant, HyFun Foods plans to set up a second greenfield unit in Madhya Pradesh with a capex of about ₹500 crore. Land scouting for the Madhya Pradesh site will begin once the Gujarat facility is operational, with that project expected to take roughly two years to complete.
Once both expansions are complete, the company's French fries production capacity will increase to 2,45,000 tonnes annually, while potato specialties capacity will rise to 40,000 tonnes. Both projects will be funded through a combination of bank debt and internal accruals.
The investment supports HyFun Foods' export-driven growth strategy, with the company currently exporting to over 40 countries and targeting an increase to 100 countries in the coming years. The company's exports-to-domestic sales ratio currently stands at 70:30.