VMPL
New Delhi [India], January 20: Milk Food Ltd., a renowned for its cutting-edge facilities and high-capacity dairy products. Its core products, Milk Powders and Pure Ghee, have been synonymous with trust and excellence for decades has announced the sale of its 21-acre Moradabad plant land to a reputed developer for an estimated value of INR 140 to 150 crore. The land has been approved as residential zone. The land will be repurposed for the development of a modern residential colony, marking a significant step in the city's urban expansion plans.
The Moradabad plant, which processes 5 lakh liters of milk daily received from Mother Dairy on job work, has been a vital contributor to the company's operations. However, this strategic decision to sell the land aligns with Milk Food Ltd.'s broader vision to diversify and strengthen its presence in the dairy sector. The proceeds from the deal will fuel the company's ambitious plans to venture into the lucrative ice cream market and expand its portfolio into cheese and butter production.
Investment in Growth and Diversification
The sale of the Moradabad plant land is a pivotal move that reflects Milk Food Ltd.'s focus on innovation and growth. The company plans to use the proceeds to establish a state-of-the-art ice cream manufacturing facility in Delhi NCR, positioning itself as a formidable player in the rapidly growing ice cream segment. The company is also exploring opportunities in the cheese and butter markets, sectors with significant demand and growth potential in India.
"We are excited about this transformative phase for Milk Food Ltd.," said Sudhir Avasthi, Managing Director of Milk Food Ltd. "The sale of our Moradabad plant land allows us to invest in high-growth opportunities like ice cream, cheese, and butter. These ventures will not only strengthen our product portfolio but also enable us to become a debt-free company, ensuring long-term financial stability."
Moradabad Staff Transition and Continued Milk Processing Operations
The company has ensured that the transition will be seamless for its workforce. The existing staff of the Moradabad plant will be relocated to Milk Food Ltd.'s Patiala plant, which currently processes 7 lakh liters of milk daily or integrated into the upcoming ventures.
"We value our employees and are committed to their well-being during this transition. By relocating them to our Patiala plant and other new ventures, we aim to retain our experienced team while offering them opportunities for growth," [Insert Name] added.
The Patiala plant, a flagship facility for Milk Food Ltd., will absorb the additional capacity and continue to bolster the company's core operations.
Contribution to Urban Development in Moradabad
The acquisition of the Moradabad plant land by the Moradabad Development Authority for the development of a residential colony aligns with the city's broader urban planning goals. The new residential colony is expected to cater to the growing population, enhancing Moradabad's infrastructure and housing options.
"This partnership of Milk Food Ltd. With a developer represents a win-win scenario for both. While the company takes a bold step towards diversification, the city benefits from a strategic expansion of residential infrastructure. With the new circular road under construction which shall be complete within 2-3 years will undoubtedly contribute to the city's growth and development."
Expanding Market Presence and Financial Stability
With this diversification strategy, Milk Food Ltd. is poised to become a more robust and dynamic player in the Indian dairy sector. The entry into the ice cream, cheese, and butter segments is expected to complement the company's existing offerings and cater to evolving consumer preferences.
Moreover, the financial infusion from the land sale will help Milk Food Ltd. eliminate its debt, providing a solid foundation for its future ventures. The company's decision reflects a forward-thinking approach to leveraging its assets for sustainable growth and profitability.
Commitment to Quality and Innovation
Milk Food Ltd. has a long-standing reputation for quality and innovation in the dairy industry. The new ventures will be equipped with advanced technology and adhere to stringent quality standards, ensuring that the company continues to deliver exceptional products to its consumers.
A New Chapter for Milk Food Ltd.
As Milk Food Ltd. embarks on this new chapter, the company reaffirms its commitment to excellence, innovation, and customer satisfaction. The move is expected to create new opportunities in the dairy sector while contributing to the economic and social development of the regions it operates in.
About Milk Food Ltd.
Established in 1973, Milk Food Ltd. is headquartered in Delhi, renowned for its cutting-edge facilities and high-capacity machinery, the company has set benchmarks in quality and efficiency. Its core products, Milk Powders and Pure Ghee, have been synonymous with trust and excellence for decades
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
