HyFun Foods Targets Rs 1,500 Crore Revenue This Fiscal, Eyes IPO Launch by 2028

New Delhi, October 6: Frozen food major HyFun Foods is on track to clock Rs 1,500 crore in revenue this fiscal year, supported by growing demand for ready-to-cook potato products and a strong domestic consumption push following the GST reduction on processed foods. The company is also preparing to launch its Initial Public Offering (IPO) by 2028 as part of its long-term growth roadmap.

Domestic Demand Gains Momentum

HyFun Foods, which produces a wide range of frozen potato products including French fries and hash brown patties, expects domestic consumption to become a key revenue driver in the coming years. The Indian market currently accounts for about 30% of total revenue, but the company anticipates this share to rise to nearly 50%, said Managing Director and Group CEO Haresh Karamchandani and Executive Director Kamlesh Karamchandani.

Aggressive Expansion and Capacity Growth

To support this surge in demand, the company is investing nearly Rs 1,000 crore in new facilities this year. HyFun is setting up one of Asia’s largest frozen French fry and specialty potato lines, aimed at boosting production capacity for both domestic and export markets.

“There is strong and sustained demand for our products across regions. Once our new facility begins commercial production, we will start preparing for our IPO, which we plan to launch in 2028,” the management said.

Proceeds from the IPO are expected to be channelled toward further expansion and infrastructure development, ensuring the company maintains its growth trajectory.

Expanding Global Footprint

HyFun Foods continues to strengthen its presence in South East Asia, the Middle East, and the Far East, as these regions increasingly turn to India as a reliable alternative to Europe and the US for frozen food supplies.

While the company recently entered the US market with its flagship Hash Brown Patty, it said the 50% tariff imposed by the US administration on Indian goods will have little impact since its exposure there remains limited.

Product Diversification and Innovation

Moving beyond its potato-focused portfolio, HyFun Foods is actively developing new frozen food categories to meet the changing tastes of Indian consumers.

“Convenience continues to be a major growth catalyst in India. We are diversifying our product range to capture new segments in the frozen foods market,” the Karamchandanis said.

Strengthening Cold Chain Ecosystem

HyFun is also working with third-party suppliers to expand cold chain infrastructure, helping improve logistics efficiency and reduce overall product costs.

With sustained investment, expanding exports, and rising domestic demand, HyFun Foods is firmly positioning itself for the next phase of growth – culminating in its planned IPO by 2028.

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