Wednesday, 03 January 2024 | PNS | DEHRADUN
The year 2023 was a turnaround year for Kings Infra with the company overcoming challenges with innovative capabilities and resilience. The company is aiming to achieve impressive growth this year. Kings Infra Ventures Limited chairman and managing director Shaji Baby John said that the most noteworthy achievement of last year has been the signing of the long term MoU with the Shanghai based Shanghai RSF Trading Company Limited, a joint venture of Japan Food Services Company, Japan for launching the Kings Rishifu brand shrimps in the Chinese market in a strategic partnership and branding and distribution with RSF, Shanghai.
The initial order for 100 containers worth about Rs 100 crore from RSF Trading Company will be scaled up to 200 containers for the next financial year. The association focusses on the high-end market with premium products and has the potential to generate Rs 100 crore revenue in the first year and Rs 200 crore per year when fully implemented, he said.
The Kings Infra team comprising the CFO Lalbert Cherian along with SISTA CEO Chandra Bhat recently concluded a successful visit to Shanghai and Zhanjiang in China as a part of the product and market development activities.
The visit was to get the feedback on the trial containers shipped under the Kings Rishifu brand and do new product trials for value addition. The visit has enhanced brand visibility and facilitated new distributor and channel relationships which will help us to expand our footprints in the Chinese market, the CMD added.
Kings Infra also signed an MoU with JH & Company representing Ocean World Ventures one of the leading in the US who are regular importers and distributors of seafood products, mainly Vannamei Shrimps for the US market. Both the parties have agreed to start business with about 5-8 containers per month and scale it up to the minimum level of 100 containers per year. The MoU envisages to expand the products range for distribution in the US. Kings Infra has made arrangements as a merchant exporter with leading IQF processors in Andhra Pradesh to execute orders for exports to the US market. In 2023, Kings Infra launched SISTA360, the trail blazing digital platform for sustainable aquaculture solutions. This platform is poised to revolutionise the Indian aquaculture landscape, offering sustainable protocols, quality inputs and one-stop solutions to the aqua farmers.
John further said that Kings Infra Ventures Limited will be launching ‘Kings Bento’ which brings the convenience of ‘heat and eat’ seafood delicacies to the domestic market. The recipes are developed in association with the Central Institute of Fisheries Technology (CIFT). “Kings Bento is a testament to our commitment to transforming the culinary landscape with innovative, ready-to-serve seafood options. Kings Bento will be available in exclusive sales outlets across Kerala from January 2024. Kings Bento is inspired by the Japanese concept of Bento, which means ‘Takeaway’, in beautifully and aesthetically designed Bento Boxes,” the CMD said.
In order to meet the upcoming expansion and marketing plans, Kings Infra is issuing preferential allotment of equity shares of Rs 17 crore and also secured a working capital upto Rs 40 crore from Punjab National Bank. The strategic business plan drawn out for Kings Infra in the year ahead promises to make it an iconic year for the company both in the international as well as domestic markets.
