Ahmedabad-based HyFun Foods, a leading producer of frozen potato products including French fries, expects to generate around Rs 1,500 crore in revenue in the current financial year (FY25). The company is also preparing to launch an initial public offering (IPO) by 2028, as part of its long-term growth roadmap.
According to Managing Director and Group CEO Haresh Karamchandani and Executive Director Kamlesh Karamchandani, domestic demand for frozen foods is expected to surge, supported in part by the reduction in GST on processed foods. The frozen food segment, which currently contributes about 30% of HyFun’s revenue, is projected to account for nearly half of total revenues in the coming years.
“There is a growing demand for our products in both domestic and international markets. Once we commence supplies from our new facility, we will begin preparations for an IPO, aiming to tap the capital markets by 2028,” the company told PTI.
HyFun Foods is setting up a high-capacity production line for frozen French fries, along with a specialised frozen potato line, which is expected to be among the largest in Asia.
The company serves multiple channels, including exports, food service, hotels, restaurants, cafés, catering, and retail consumers. For its export business, HyFun is targeting Southeast Asia, West Asia, and the Far East — markets that have traditionally relied on imports from Europe and the US.
“With the combination of domestic growth and international expansion, we expect overall sales to reach around Rs 1,500 crore this year,” the company stated.
