Jagatjit Industries Limited has officially concluded its agreement with Hindustan Unilever Limited (HUL) to manufacture and supply malted milk food products, including popular brands like Boost and Horlicks. The contract, which began on January 1, 2021, expired today, December 31, 2024, without renewal as per HUL’s business decision.
While the agreement to manufacture these products has ended, Jagatjit Industries will continue its business relationship with HUL by supplying malt extract from its facilities. The company expressed optimism about securing similar manufacturing agreements with other brands, citing its state-of-the-art production facilities and access to high-quality raw materials like milk and malt extract.
In addition to maintaining its malt extract production, Jagatjit Industries is exploring ways to maximize resource utilization. The company has reported increased production and sales of malt spirit, fueled by the rapid growth of India’s malt spirit market. Furthermore, its 200 KLPD grain-based ethanol manufacturing plant is expected to commence operations in the next quarter, a move anticipated to significantly boost revenues and profitability.
The company remains committed to its core products, including Indian Made Foreign Liquor (IMFL) and country liquor, and is actively working to expand its market presence both domestically and internationally.
Matrika Shukla, Beat Editor at Business Upturn, is a Multimedia student. She is passionate about investigating and reporting on complex subjects. She has an extensive background in digital media with special focus on Politics.