Vikas Multicorp Limited commences dealing in raw and finished Cashew Nuts

Further to a host of initiatives undertaken by Vikas Multicorp Limited (VML) to bolster its presence in the consumer space, the management has shared an update regarding its recent initiative with regards to its proposed foray in the Cashews processinB business.

VML has already commenced dealing in Raw and Finished Cashew Nuts as a commercial business activity, The strategy is aimed to establish long term raw-cashews procurement channels for its upcoming Cashews Processing Unit, build in house market intelligence capabilities, deeper understanding of the various markets, running pilot modules in different target segments, and identification of various sales channels in both B2B and B2C segments.

Commenting on the development, Mr. Vijay Kumar Sharma, CEO of the Company said "We are very kicked about the prospects of this vertical, in particular. Our country has a lion's share in the Cashew exports market globally and is a hub for Cashew processing as well and I don't see that changing anytime soon, As announced earlier, we have already initiated the process of establishing a state of the art, environmentally sustainable factory for processing cashews with an estimated initial capex outlay of Rs. 100 Million with capacity to initially process 4500 MTPA of Cashew nuts, providing a finished cashew output of 1000 MTPA."

"While this capacity commissioning process may take some time to see fruition, we intended to have a better grip on the dynamics of the Cashew market in India and hence decided to take the plunge into dealing of Cashews. lt is important to understand the competitive intensity and relevant industry drivers, helping us operate our proposed processing plant more efficiently." he said. "I am very excited the way the future is shaping up for VML."

Source : Equity Bulls

Keywords