Frozen food maker HyFun Foods will invest around ₹900 crore to set up a new manufacturing unit in North Gujarat to expand its capacity for French fries and potato specialties.

HyFun Foods to invest ₹900 cr to expand capacity in Gujarat; eyes IPO in 2028-29

HyFun Foods to Invest ₹900 Crore in New Manufacturing Unit

Frozen food maker HyFun Foods is set to expand its capacity for French fries and potato specialties with a new manufacturing unit in North Gujarat.

New Facility Details

Investment: ₹900 crore
Capacity: 135,000 tonnes of French fries and 25,000 tonnes of potato specialties
Current capacity: 110,000 tonnes of French fries and 15,000 tonnes of potato specialties
Total capacity post-expansion: 245,000 tonnes of French fries and 40,000 tonnes of potato specialties

Company Expansion Plans

HyFun Foods currently has an overall potato processing capacity of about 350,000 tonnes, which will increase to around 700,000 tonnes after the expansion.

The company plans to expand its farmer network from 7,000 to 12,000-15,000 farmers across Gujarat and Madhya Pradesh.

Revenue Growth and Export Plans

HyFun Foods reported revenue of ₹1,350 crore in FY25 and expects this to rise to around ₹1,500 crore in the current financial year.

The company expects to reach ₹3,500 crore by FY28 and exports account for a large share of its business, with around 70% of its FY25 revenue coming from exports.

Geographic Expansion and Public Listing Plans

HyFun Foods is planning geographic expansion as it scales up operations, with plans to start building a potato processing plant in Madhya Pradesh after 1-1.5 years.

The company is also evaluating an expansion into Uttar Pradesh over the next five years and plans to prepare for a public listing in end FY27.

Indian Potato Processing Industry Growth

India's potato processing industry is currently growing at around 15-20% in volume terms, while HyFun Foods has grown at a faster pace of 30-35% in the last 10 years.