Corporate Development     

Published: November 30, 2024
Updated: November 30, 2024

Sarveshwar Foods Ltd

Singapore arm secures 12,000 MT rice order, eyes Rs. 2000 Mn annual revenue

Sarveshwar Foods Ltd. (BSE: 543688, NSE: SARVESHWAR) an ISO 22000:2018 and USFDA certified leader in the agro product FMCG sector, announces that its wholly owned subsidiary, Green Point Pte. Limited, Singapore, has secured a major order to supply 12,000 MT of premium Indian Long Grain Parboiled rice, valued at approximately Rs. 445 million. This order is part of the subsidiary’s strategic drive to achieve over Rs. 2000 Million business during the current fiscal year.

Recently acquired Green Point Pte, based in Singapore, serves as a gateway to the growing global market for rice and rice-based products. This order further strengthens Sarveshwar Foods position, with the global rice-based products market expected to grow from USD 226.36 billion in 2023 to USD 361.41 billion by 2031, driven by increasing demand for gluten-free alternatives.

The rising prevalence of celiac disease and gluten intolerance, coupled with growing awareness of the health benefits of rice-based products, such as low fat and high fibre, is fuelling global demand. Green Point Pte. Ltd. is strategically positioned to capture significant market share in this rapidly expanding sector.

“We are excited about this significant order and the promising outlook for Green Point’s contribution to our global business. With our focus on high-quality rice-based products and the growing preference for gluten-free diets, we are confident in achieving our Rs. 2000 Million target this year for this Singapore Subsidiary,” said Mr. Rohit Gupta, Chairman, Sarveshwar Group, “and overall turnover of Rs. 10,000 Million (Rs. 1000 Crores) business for the Sarveshwar Foods Limited, taken its subsidiaries business together, for FY 2024-25, and that too with good margins”

Sarveshwar Foods is committed to expanding its business further and capitalizing on emerging market trends. As demand for rice-based products continues to rise worldwide, Sarveshwar Foods is well-positioned to leverage its expertise and infrastructure to lead the way in both the domestic and global rice export industry.

Earlier, the company announced has achieved a significant milestone by surpassing ¹ 500 crores in sales during the first half of the fiscal year. This accomplishment underscores the rising popularity of SFL’s premium offerings, particularly its organic products under the ‘Nimbark’ brand, which have driven notable profit growth due to the company’s steadfast commitment to quality.

Earlier, the board also decided to acquire the remaining stake in Natural Global Foods DMCC, a Dubai-based company, to make it a wholly owned subsidiary with a view to enhance company’s operational control and streamline the decision-making processes within the Middle East Market, ultimately driving growth and synergy across its business operations and delegated necessary authorization for the proposed acquisition including appointment of various intermediaries required for this purpose, and submit valuation report and due diligence report in next board meeting to facilitate the final acquisition.

Sarveshwar Foods Limited (SFL) is an ISO 22000:2018 and USFDA (United States Food and Drug Administration) certified company. SFL also has BRC (biggest global standard for food safety), Kosher, NPPO USA & CHINA along with NOP -USDA Organic certifications for its products.

The Company is engaged in the business of manufacturing, trading, processing, and marketing of branded and un-branded basmati and non-basmati rice in the domestic and international markets. Our operations are based out of the Jammu Region in the State of Jammu and Kashmir. SFL has sustainable and ecotve legacy of serving healthy and tasty rice for more than 130 years and in last couple of decades proliferated its heritage to other premium categories of FMCG and Organic products. SFL belongs to the lands in foothills of Himalayas which is nourished by fertile mineral-rich soil, organic manure and snow melted waters of river Chenab, wherein without using any artificial fertilizers and chemicals, they produce full range of ‘ORGANIC’ products, being sold with brand name ‘NIMBARK’- conceptualized to spread the philosophy of the ‘SATVIK’ conscious lifestyle.