From the Managing Director
Mr. Vikram Kelkar
Over the years, Hexagon Nutrition has remained true to its core values and contributed to nurturing a growth-oriented nutraceutical company. Even though there have been times that tested our willpower and strength, Hexagon Nutrition has always bounced back with a double magnitude of prowess. I would like to highlight that our thrust on domestic and export markets in both Premixes and Brands has yielded excellent results despite the COVID-19 Pandemic.
Our Teams worked towards overcoming stiff challenges in competition and competitive pricing. With our product differentiation and excellent customer service, Hexagon is a preferred vendor in domestic as well as international markets. This has enabled us to gain a competitive edge in the global market. We aim to strategically explore new potentials, seize new opportunities, implement emerging trends, synergize strengths and bring perfection.
PREMIX: Background and Concept
Micronutrient premixes, my forte and the most important fragment of Hexagon Nutrition have been accelerating at a good pace and exploring new growth possibilities. The terminology of “Premix” or rather “Micronutrients Premix” was introduced by Roche and BASF more than 40 years ago as a “Ready to use” validated blended mixture of various micronutrients viz Vitamins and Trace Minerals for addition to a Food in the desired proportion. This additional process was later termed “Enrichment” or “Fortification”. This “Ready to use” concept became very popular simply because of convenience and economics in Corporates, NGOs Supra Governmental Organisations such as UN- WFP, UNICEF and GAIN to name a few.
Being a research-oriented Hi-Tech area only a few competent companies could successfully develop, manufacture, and market “Premixes” and Hexagon Nutrition is one of those few pioneering companies.
About Market And Competition
The global market for Premixes is estimated to be USD 1.5 Billion (INR 11000 crores) and likely to reach USD 2 Billion by 2024 (INR 14800 Crores). This indicates a huge potential for Hexagon Nutrition to grow. With competition from European and American companies that have demonstrated competency, capability, and long experience, Hexagon Nutrition is one of the first Asian companies to excel internationally with a strong focus on quality and innovation.
About Our Future Capex Plan
In FY 2022, we are planning to construct/buy a new warehouse in MEPZ to meet the growing demands of the current business, both in terms of maintaining stocks of the raw material packing materials and the finished goods. We have planned for Additional RUTF lines, Construction of a new world-class MNPs facility, Spray drying facility, Fortified Rice Kernel (FRK)/ chickpea RUTF. All these projects will directly/indirectly help to increase revenue in years to come.
- To increase our manufacturing base in international locations we are planning to set up a greenfield project in South Africa. This project will help to increase our customer base in the African Continent.
- We always focus more on our R&D to provide the best quality product to our customers. We have therefore allocated sufficient funds for our R&D activities at our 100% Subsidiary Company namely Hexagon Nutrition (Exports) Private Limited located in MEPZ at Chennai.
The opportunities that lie ahead are significantly vast to ensure sustainable value creation for each of our stakeholders. Over the last 2 decades, our Company has become a pioneer in the industry as we have worked hard to revitalize the position of Hexagon Nutrition.