Himalya International unhurt by note ban, clocks 80% growth in December quarter

Himalya International Ltd, a diversified food processing company, today said the "tumultuous phase" of demonetisation did not have any impact on the firm as it posted an 80 per cent growth in the December quarter against the corresponding period a year ago.

"We have been able to meet all our financial obligations to all stakeholders and revived company's goodwill with secured lenders," the company said in a filing to the BSE.

On his vision for the company, its Chairman and CEO Man Mohan Malik said Himalya is "on track to complete revival and shall be back to high growth trajectory within next few quarters."

The company has emerged from the devastating events after the JV failure and is working to sustain the process of complete revival, Malik said, adding Himalya International is in the process of opening all closed units at Gujarat and hopes to clock better capacity utilisation with each passing quarter.

"We have innovated a few great and new products for launch under 'Healthy Series' & 'Guilt Free Series' which will impart the novel dimension of 'Taste of Happiness & Health' in our food products. We shall also be showcasing our new products at forthcoming Food Shows in USA & at Gulf Food Show Dubai," he said.

"We also plan to participate at the largest Indian Show on food products at 'AAHAR' in mid of March this year to kick start in domestic Indian markets," he said.