Capricorn bets big on ready-to-eat segment

The integrated food processing company, based out of Anna Nagar is a manufacturer and global exporter of tropical fruit purees, concentrates and quick-frozen chunks, producing 2 lakh tonnes pa of finished products. 

Tushar Nikam, Manager, Business Development, Tiffin-To-Go says, “We use freeze dry technology to manufacture the ready-to-eat products and are among the few companies in India that use this system. The technology is used by companies in the US that make processed food to be consumed by military staff, explorers and trekkers, and they have a shelf life of many years. Our products have a shelf life of eight months. Close to 2.5 lakh tubs of the ready to eat foods can be manufactured every month at our factory in Sathyavedu, AP.

We started this segment in early 2016 and today we supply our products to about 6-7 airlines across India, and to a few international carriers as well. We are also available on e-tailer platforms. There are plans on the anvil to take the product to offline stores in a bigger way as well.”

Capricorn Food has two other factories, in Krishnagiri and Nashik. A company official also divulged that the company is expecting a 10 to 15 per cent growth in both the export and domestic market for its B2B processed foods segments. “In the next six to eight months, the company is also planning to come up with a range of ready-to-eat chapatis and parathas,” the official added. 

Earlier this month, Capricorn received markets regulator Sebi's go ahead to float an initial public offering. Capricorn Food's IPO comprises fresh issuance of equity shares worth Rs 171 crore and an offer for sale of up to 76.43 lakh scrips by the existing shareholders.  Established in 1998, Capricorn Food is a food processing company with both export and domestic operations. It serves clients across North America, Europe, Asia-Pacific, Africa and the Middle East. In fiscal 2017, the company reported a revenue of Rs 436.71 cr.