India is the second largest producer of wheat and rice, the world’s major food staples. India is currently the world’s second largest producer of several dry fruits, agriculture-based textile raw materials, roots and tuber crops, pulses, farmed fish, eggs, coconut, sugarcane and numerous vegetables.
“Basmati” is long grain aromatic rice grown for many centuries in a specific geographical area. Known to be the world’s most precious rice strain, basmati has a special meaning for us at KRBL. It is one of the most treasured grains, It is a remarkably long variety of rice and has a distinct aroma and discrete nutty taste. When cooked, the Basmati is longer, lighter, and fluffier than standard white rice, and does not stick together.
About the company
The company was started in 1989. The first name of the company was Satnam Overseas and later it changed into Kohinoor Foods. Kohinoor Foods Ltd. is synonymous with the fine taste of India in its authentic form Since its inception, the company’s sole objective has been to make the world experience the true Indian flavor. Just the reason why it offers an extensive range that caters to all kinds of consumers in different parts of the world – from Basmati Rice, Ready to Eat products, Cook-in Sauces and Cooking Pastes to Spices, Seasonings and Frozen Food. It’s really no surprise then that Kohinoor Foods Ltd. is a household name not only in India but also in the USA, the UK, Dubai, Canada, Japan, Australia, Singapore, and other European countries.
Synonymous with the fine taste of India in its absolute authentic form the soleobjective of Kohinoor Foods Limited since its inception has been to make the worldexperience the true Indian flavor. The Company offers an extensive range that caters toconsumers’ need in all parts of the world – a wide variety of Basmati Rice Ready toEat Curries & Meals Readymade Gravies Cooking Pastes Chutney’s Spices andSeasonings to Frozen Breads Snacks & Paneer (Indian Cottage Cheese) healthy grainsedible oils. Today the most powerful brand of the Company “Kohinoor” is ahousehold name in the countries like UK USA UAE Canada Australia Middle EastSingapore Japan Mauritius & other European countries. As of now the brand’Kohinoor’ is known worldwide. During the current year the company is promoting its”MONSOON” brand in India as well as worldwide and started selling product underthis new brand as well.
History
Through its long journey, Kohinoor Foods Ltd. has gone past numerous milestones becoming a global food giant. And it looks forward with hope and glory to scale greater heights and continue touching the world with that special authentic taste of India.
This joint venture being the first of its kind in the Rice Industry aims to take the brand in the Indian subcontinent on a higher platform that benefits the end consumer. The company has become one of the largest selling brands in us. The company has continuously focused on branding and advertising its brand.
Financial capability
India is among the top five rice-producing nations which include China, Indonesia, Bangladesh, and Vietnam in the list. India produces above 23% of overall global rice production. Indian rice market is primarily dominated by the unorganized sector because of the presence of several local players and the easy availability of rice through small retail stores. The rice production is projected to register a CAGR of2.7% during the forecast period, 2020-2025.
Any improvement in the situation is likely only from the next basmati paddy harvest season, that is, the second half of 2020-21. In the meantime, the supply of basmati paddy is expected to witness some moderation as farmers are likely to shift away from basmati, given the non-remunerative prices in the last two crop cycles.
For the financial year under review, the company Export stand at INR 5322million as against INR 7797 million in the previous year while the Domestic Sales stood atINR 3262 million as against INR 2708 million in the last financial year.
The contribution made by Rice to the Company’s business is INR 7531 million asagainst INR 9063 million in the last financial year while the Food Business stood at INR728 million as against INR 587 million in the previous year.
Conclusion
Kohinoor has obtained 100% Export Oriented Unit (EOU) status for its food processing unit to fetch new businesses from Australia UK & the USA to import all restricted Grains. Focus on the mainstream private label of world-leading retail giants of their respective local product lines which have a bigger chunk in the market. Further introductions of a new range of Ready eat Curries & Simmer Saucesunder Kohinoor brand in UK market. Kohinoor Branded Namkeens will be under the much-focused category this year. New Dairy extensions such as Ras Malai Khoya Butter under the Kohinoor brand will be carried out after the success of Kohinoor Fresh & Frozen Paneer in the world market.