Ecolife, the organic foods brand of Nature-Bio Foods Limited which is a wholly owned subsidiary of LT Foods, a global Indian food brand with presence across the globe, today announced the modernization and automation of its existing organic facility that it believes will help EcoLife gain more market share in India as well as international markets. The Company already has a diverse organic food portfolio. Nature- Bio Foods Limited has upgraded and modernized its manufacturing facility in Sonepat, Haryana to produce a wide range of organic foods. Mr. Sudhir Rajpal, Principal Secretary, Industries & Commerce, Government of Haryana inaugurated the plant as Chief Guest and Dr. A.K. Yadav, Advisor (NAB), Organic, APEDA graced the occasion as the Guest of Honour.
Nature Bio Foods Limited is working with more than 80,000 farmer families across 15 states in India to produce organic food products & ingredients. The facility has processing facilities and quality control processes.
LT Foods Limited has been engaged in the organic foods & ingredients business since 1997 will now focus on the demand of Indian market which has seen exponential growth for organic food.
Commenting on the development, Mr. Vijay Kumar Arora, Managing Director, LT Foods said, " We have 20 years' experience in organic foods & ingredients business and we have been acknowledged across the globe for our quality. We have put across stringent processes and systems to ensure total traceability from farm to shipments. We believe that our strong distribution network and brand presence will help us expand our organic food business in India and lead the Company on an even faster growth path in future. The plant will support further development of organic farming eco-system in Haryana & India."
Speaking while inaugurating the new plant Mr. Sudhir Rajpal, Principal Secretary, Industries & Commerce, Government of Haryana said, "Haryana has become a leading force in organic food production in India. The government is pro-active in supporting all initiatives to further holistically grow the overall ecosystem for organic food across Haryana. We congratulate LT Foods for supporting our efforts to build a strong food- processing industry in our state. The growth of foodprocessing industry is essential in doubling the farmers' income by 2022 which is one of the foremost priorities of the Government of India. Farmers will benefit from this initiative by LT Foods and it will encourage them to increase organic farming that will in turn help them enhance their income and support sustainable farming. "
Dr. A.K. Yadav, Advisor (NAB), Organic, APEDA also expressed his happiness and said," The organic food demand across the globe and in India has been increasing exponentially. We would like to build an environment that will support the long term development & growth of organic food eco-system in India. We have the potential of becoming a major source of organic food across the globe. Farmers will be the main beneficiary as the organic will support a long term & sustainable farming with good return on their investment."
Shares of LT FOODS LTD. was last trading in BSE at Rs.104.25 as compared to the previous close of Rs. 97.05. The total number of shares traded during the day was 2002507 in over 11182 trades.
The stock hit an intraday high of Rs. 106.1 and intraday low of 97.05. The net turnover during the day was Rs. 203678944.