HyFun Foods targets ₹1,500 crore revenue in FY26, aims IPO by 2028

The company stated that the funds raised through the IPO will be used to support ongoing expansion efforts to fully tap into the growth potential of the business

Ahmedabad-based HyFun Foods, a leading producer of frozen potato products including French fries, expects to generate approximately ₹1,500 crore in revenue in the current financial year (FY).

 

The company is also planning an initial public offering (IPO) by 2028.

 

According to Managing Director and Group Chief Executive Officer (CEO) Haresh Karamchandani, along with Executive Director Kamlesh Karamchandani, domestic demand for frozen foods is poised to grow significantly, supported in part by a reduction in the goods and services tax (GST) on processed foods. The frozen food segment is projected to contribute nearly half of HyFun Foods’ revenue in the coming years, up from the current 30 per cent.

 

 

“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 news agency PTI.

 

The company stated that proceeds from the IPO will be used to fund ongoing expansion efforts and fully harness the business’s growth potential.

 

HyFun Foods is currently setting up a high-capacity production line for frozen French fries, alongside a specialised frozen potato line, which is expected to be among the largest of its kind in Asia.

 

Beyond exports, the company serves a wide range of sales channels, including food service, hotels, restaurants, cafés, catering, and the retail consumer segment.

 

For its export business, HyFun Foods is targeting markets in Southeast Asia, West Asia, and the Far East. “These regions previously relied heavily on imports from Europe and the US, but India is now emerging as a viable alternative supplier,” the company added.

 

“With the combination of domestic growth and international expansion, we expect overall sales to reach around ₹1,500 crore this year,” the company said.