Business Update30 May 2026, 08:12 pm
Himalaya Food Int'l Achieves Debt-Free Status in FY26
AI Summary
Himalaya Food International Ltd's Chairman reports the company has reached a debt-free status after resolving legacy debt through a One-Time Settlement (OTS) with consortium banks, having paid 78% of the settlement. The company is pursuing legal action against its former JV partner, J.R. Simplot, for the non-return of processing machinery and seeking damages for lost productivity. Himalaya Food has expanded its global footprint by shipping frozen French toast sticks to the UK, building on success in Australia and the US.
Key Highlights
- Himalaya Food Int'l achieves debt-free status after 13 years of financial stress.
- Company successfully settled 78% of OTS with banks, paving way for clean balance sheet.
- Legal action pursued against J.R. Simplot for non-return of machinery and lost productivity.
- First consignment of frozen French toast sticks shipped to the UK.
- Company reserves legal rights against banks for non-compliance with MSME Act.
Price Impact
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