White Organic Agro Limited wins Rs 110cr food grains contract
White Organic Agro Limited said that it has won a food grains contract worth up to INR 110 crore under which it will supply rice, wheat, different types of pulses, and various other food grains in the domestic market under the need to feed program.
According to the Mumbai-based company, the order will be its foundation stone in the bulk supply domestic market and will help expand the horizon into the hugely scalable business of food grains in India.
White Organic Agro said that initially in FY22, it had supplied food grains worth INR 8 crores under the same program to the same group firm.
Due to the increase in the capacity and the order book and an opportunity of converting the same into a long term contract, the company plans to shortly finalize in the indirect farming business for cultivation, warehousing, and rice business in the northern states, wheat and pulses businesses in the western states of India for facilitating and assuring uninterrupted supply.
White Organic Agro said that it has already established setup in New Delhi and Rajkot, from which its management plans to operate the business.
The company stated: “The total revenue expected from the current contract would be approx 40 crore INR per cycle. The initial scalability of business of food grains in the domestic market is approx 800 crores INR.
“In addition to the current business activities of the company, the revenue expected from business would be approx 110 crores INR annually.”