Further to our earlier intimation regarding incorporation of a wholly owned subsidiary for undertaking food and catering business, we wish to inform that the Company through its wholly ....
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Satchmo Holdings, through its wholly owned subsidiary, has commissioned a new manufacturing facility (Food Factory) for producing packaged food items such as idli & dosa batter, ready-to-make chapati, sweets, and snacks. The subsidiary has begun operations in a sampling and testing phase, with the first commercial products expected to launch within the current quarter. The company has made a substantial capital expenditure (CAPEX) investment to set up the initial production capacity. This move marks a significant step in the company's strategic expansion into the food industry.
Positive development for shareholders as it signals diversification into the packaged food sector with commercial launch expected soon. However, investors should note that commercial revenue generation is yet to begin and execution risk remains until products hit the market and gain traction.