Chordia Food Products Ltd

Chordia Food Products Ltd was incorporated in January, 1982. The Company is engaged in manufacturing and selling processed foods for more than three decades. The Company is currently having two divisions: Food Division and Food Park Infra Division. One of the early entrants in the branded pickles segment, the Company has long been a household name in West India. CFPL, the makers of Pravin Pickles, a humble homebased venture started by H Chordia has grown to become a fullfledged company with manufacturing units located in Maharashtra at Yavat Hadapsar, Pune Satara and Shirval, Satara district. The Company manufactures pickles and ground spices (under the brand name Pravin), tomato ketchups (Navin), and farsan (Maharani), all of which are equally popular. It came out with its first public offer in Nov.92 on the OTCEI. The funds were used to expand its manufacturing facilities at Hadapsar and Yavat. In Jul.94, it came out with a rightscumpublic issue to raise funds to set up a stateoftheart unit at Shirval, to manufacture tomato ketchup, spice paste and processed agrobased canned products. Over the years, CFPL has developed a good marketing network in Maharashtra, Gujarat, Goa and parts of Karnataka, through which it is easily able to service small as well as large towns. A portion of CFPLs other products canned agrofoods, spice paste and chutneys is exported. The project at Shirval to manufacture ketchups, spices, pastes as well as to process and can other agrofoods, was completed in 199495. The products of this unit have been exported to various countries and are well accepted in the international market. Demand for companys food product continued to be increase by getting good responce from customers. The Company well established its brand name Pravin in mostly all the major cities in Maharashtra Gujarat. The Companys expansion of present manufacturing capacities for which it undertook setting up a new plant with a production of 600 MT of Pickles near Chennai, got completed and commenced commercial production in Jan. 2000. The company decided to discontinue the manufacturing activities at its Yawat Unit. It is in the process of shifting the Plant and Machinery from its Yawat Unit to Shirwal. This measure will help in improving the profitability of the company, in view of consolidation of activities and reduction of overheads.The Companys new plant with production capacity of 600 TPA at Chittambakkam Village, Kanchipuram, Chennai started commercial production w.e.f. January, 2000. In 200102, the Company set up Wind Mill Project at the total project costing Rs. 1.5 Cr. at Satara, Maharashtra with the Electricity Generation Capacity of 4,50,000 Units per annum. It established marketing network in the State of Andhra Pradesh and Rajasthan during the period 200203. It introduced several new food products like Bakery Products, Custard, Syrups, Squashes, Milk Shakes and Chinese Souses in 200405.During FY 201213, Company subscribed to/ acquired 24,99,980 Equity Shares in Western Agree Food Park Private Limited a SPV executing a Project of setting up of Mega Food Park. As such since then, the Western Agri Food Park Private Limited was made the subsidiary of the Company. Accordingly during the Year 201213, the Board of Directors disposed of the entire shareholding in the said Subsidiary by virtue of which, Western Agri Food Park Private Limited, was no more a subsidiary of the Company.The Composite Scheme of Arrangement between Chordia Food Park and Properties Limited (CFPPL)(Demerged Company), Pravin Foods Pvt. Ltd. (PFPL) (Transferor Company) and the Company was made operative effective from April 01, 2016. 10,48,152 Equity shares were allotted on amalgamation of Pravin Foods Private Limited and Demerger of Demerged undertaking of Chordia Food Park and Properties Limited into the Company during the year 201819.During the Financial Year 202122, Honble National Company Law Tribunal, Mumbai Bench sanctioned the Scheme of Arrangement between Chordia Food Products Limited Demerged Company and Aveer Foods Limited Resulting Company and their respective Shareholders, vide its Order dated 1st July, 2022. As a result the Food Division of the Company got demerged into Aveer Foods Limited with Effective Date, 20th July, 2022. In consideration of approval of Scheme for Demerger of Food Division (Demerged undertaking) of the Company into Aveer Foods Limited, all the Assets and Liabilities related to Food Division were transferred and vested into Aveer Foods Limited on a going concern basis.