Himalaya Foods Receives Approval for One-Time Settlement Extension Through September
Himalaya Food International Receives Approval for One Time Settlement Extension
Himalaya Food International, the country's largest frozen & canned food processing company, announced on Saturday that a consortium of lenders led by State Bank of India has approved its proposal for the extension of its One Time Settlement (OTS) till September 2026.
The approval is seen as a significant development for the company, substantially de-risking its balance sheet and marking the beginning of a high-growth revival phase. This extension clears the pathway for asset monetization, capital infusion through rights issues or preferential shares, and the expansion of export-driven verticals.
According to the company, out of the final settlement of Rs 43 crore, half of that, which is Rs 21.50 crore, has already been deposited. Himalaya Food International has paid Rs 77 crores till date and expects the balance of Rs 21.50 crores to be fully achievable within the approved timeline.
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Despite setbacks due to non-return of critical machinery by JV partner and force majeure impact from a fire at the Gujarat facility, the company continued servicing its obligations. The approval for the extension of OTS is a defining moment for Himalaya Food International, according to Chairman & CEO Man Mohan Malik.
"We have already demonstrated our intent and capability by paying Rs 77 crores, including Rs 21.50 crores under the revised OTS. With the extension now in place, the path to full closure is clear, visible, and fully achievable," he said.
The company is now entering a phase where financial restructuring is aligning with operational momentum, creating a powerful platform for accelerated growth and value creation.
Settlement Details
| Settlement Component | Amount (Rs Crore) |
|---|---|
| Final Settlement | 43.00 |
| Deposited (Rs 21.50 crore) | 21.50 |
| Paid Till Date | 77.00 |
| Balance to be Paid | 21.50 |
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Investor Takeaway
Investors should expect a high-growth revival phase for Himalaya Food International.
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