Kings Infra, a leading name in seafood processing and export, has secured a ₹40 crore working capital loan from Punjab National Bank. This investment will fuel the company’s ambitious plans to launch ready-to-cook and ready-to-eat seafood products in the Indian market, tap into the rising demand for premium seafood, and expand its export reach.
King Bento to Spice Up Indian Kitchens:
Shaji Baby John, Chairman and Managing Director of Kings Infra, announced the exciting launch of “King Bento,” a new brand of ready-to-cook and ready-to-eat seafood products. This strategic move caters to the growing demand for convenient and healthy food options in India.
Capitalizing on Premium Seafood Boom:
Recognizing the surge in demand for high-quality, antibiotic-free seafood, Kings Infra plans to leverage its expertise to cater to this lucrative segment. This aligns with the company’s commitment to providing healthy and sustainable seafood options to both domestic and international markets.
Financial Performance and Market Response:
The company’s impressive financial performance, with consistent growth in revenue and profitability, has garnered positive attention. Akshay Agarwal, Managing Director of Acumen Capital Services Ltd., highlighted a 4.2% increase in Kings Infra’s share price on the BSE following the news of the investment and expansion plans.
Securing Major Contracts and Expanding Reach:
Kings Infra has secured two long-term contracts for vannamei shrimp supply to China and the US, each valued at over Rs 100 crore per annum. This not only strengthens the company’s export portfolio but also opens doors to new markets. With the additional capital, Kings Infra aims to increase its turnover from Rs 60 crore to Rs 100 crore within a year.
Becoming a Merchant Exporter and Entering Retail:
To meet its ambitious export commitments, Kings Infra has strategically partnered with leading processing plants to become a merchant exporter. Additionally, recognizing the immense potential of the domestic market, the company has entered the retail space with B2B and B2C offerings in institutional and retail packs.
This strategic infusion of capital and Kings Infra’s proactive approach position the company for significant growth in the coming years. The launch of King Bento, coupled with its focus on premium seafood and market expansion, promises to make Kings Infra a household name in the Indian seafood industry.