HRS Systems eyes growth with FDI in retail sector

HRS Process Systems Ltd. (HRS PSL),  part of UK based HRS Group, a heat transfer specialist, which operates at the forefront of thermal processing technology is eying business of  Rs 100 crore from existing Rs 35 crore in the next five years. Also, it is targeting multi-brand retail FDI opportunity to the food processing industry.

Large companies in this segment are already gearing up to introduce new verities of processed food products to suit the tastes of the Indian palette.

Over 65 per cent of the company’s business in India is generated from the chemical process industry with a growth rate of 30 per cent year on year.

The company is also exploring other sectors like food & beverage and pharma.

Commenting on FDI in retail development, V Gokul Das, managing director, HRS Process Systems said,"Currently, the industry is facing the problem of efficient conversion of farm produce as the product gets easily perished before reaching the consumer. The need of the hour is advanced processing technology whereby we can process and store food for sufficient time required up to consumption. FDI will enable better cold storage and transportation facilities ensuring reduced wastage and more food available for processing thus enabling companies like HRS to provide innovative processing solutions of international standards at competitive prices."