Frozen potato products maker HyFun Foods plans to invest ₹1,500 crore to set up new manufacturing units in Gujarat and Madhya Pradesh, as it scales up capacity for exports and the domestic market. The company is building a greenfield plant near Ahmedabad in Mehsana with a capex of about ₹1,000 crore. This facility is expected to start operations by January 2027. After that, HyFun plans another greenfield unit in Madhya Pradesh with an investment of around ₹500 crore, starting with smaller capacity and expanding over time.
Currently, HyFun Foods runs five manufacturing units in Gujarat. Once the new Gujarat plant is operational, the company will begin land scouting in MP, with that facility taking about two years to become operational. The expansion will be funded through bank debt and internal accruals.
Post-expansion, HyFun’s French fries production capacity will rise to 2,45,000 tonnes a year, while potato specialties capacity will increase to 40,000 tonnes. The firm reported revenue of ₹1,450 crore in FY26 and expects it to reach ₹3,500 crore by FY28, after the first full year of the new Gujarat plant.
HyFun Foods is also preparing for an initial public offering (IPO) in 2–3 years. Before that, it may raise ₹1,500–2,000 crore via private equity as a stepping stone. Exports currently account for 70% of business, with presence in over 40 countries, a number it aims to double to 100. Domestically, the company is shifting focus from fresh to frozen foods, adding products like pizzas, momos, samosas and parathas.
FAQs [Frequently Asked Questions]
Q1: How much is HyFun Foods investing and where?
HyFun Foods will invest ₹1,500 crore: ₹1,000 crore for a new plant in Mehsana, Gujarat, and ₹500 crore for a greenfield unit in Madhya Pradesh to boost frozen potato capacity.
Q2: When will the new plants be operational?
The Gujarat plant is expected by January 2027, while the Madhya Pradesh unit will start after land acquisition and take about two years to become operational.
Q3: What are HyFun’s IPO and revenue targets?
HyFun plans an IPO in 2–3 years, possibly after a ₹1,500–2,000 crore PE raise, and expects revenue to grow from ₹1,450 crore in FY26 to ₹3,500 crore by FY28.