2023-12-16 15:29:07
Wardwizard Foods and Beverages Signs Rs 5000 Crore Agreement with Gujarat Government
In a major development for the food and beverage industry, Wardwizard Foods and Beverages has signed a groundbreaking agreement worth Rs 5000 crore with the Gujarat government. The deal aims to significantly increase the food production capacity of the state and open up growth opportunities for the region.
Through this strategic partnership, Wardwizard plans to expand its production of ready-to-eat foods, mayonnaise sauce, and frozen foods across Gujarat. The ambitious project, valued at Rs 500 crore, is expected to mark a pivotal moment in the journey of Gujarat’s food industry, promising substantial growth opportunities for the region.
The announcement of the deal has caused a stir in the stock market, with shares of Wardwizard Foods and Beverages Limited falling 5.09 per cent to trade at Rs 30.19 per share. The stock has a 52-week high of Rs 49.90 and a low of Rs 19.50. The company currently has a market cap of Rs.750 crore.
Established in 1953, Wardwizard Foods & Beverages Ltd. is known for its “PRATAP VANASPATI” brand of vegetable cooking oils. Despite facing challenges such as not receiving clearance from the Pollution Control Board, the company’s Additional Managing Director & CEO, Mr. Ramesh Chandra Thaka, continues to explore diversification and other avenues in the food and beverage sector.
The company’s journey has seen remarkable success, with a multipacker revenue growth of 1300% in the last 3 years. This achievement is a testament to the company’s commitment to innovation and growth in the food and beverage industry.
The signing of the agreement with the Gujarat government is expected to further boost Wardwizard’s position in the market and open up new opportunities for expansion and growth. The company’s continued dedication to excellence and growth in the industry is setting the stage for a bright future in the food and beverage sector.
Disclaimer: This article is for informational purposes only and is not intended as investment advice.
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