HLL has also reported to BSE that it will fetch fresh fund to make Modern Food financially healthy and is also testing the option to de-merge the company’s land and building assets, which can help generate capital. At the time of the takeover in 2000, Modern Foods turnover came from its loss-making bread unit, and also the supplementary nutritional foods (SNF) venture, which was the profit- oriented arm. But, after the disinvestment, government orders, which earlier virtually drove the SNF business, dried up, leaving the company bleeding! The million-dollar question? Will HLL’s latest strategy to convert Modern Foods into a cash-cow take off?
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Source:- IIPM-B&E , Initiative:- Prof. Arindam Chaudhuri - 2006
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