Founded in 2012, Iscon Balaji Foods Private Limited (IBF) has grown into a significant entity within the frozen potato delicacies and dehydrated potato flakes industries. The company emerged from a strategic alliance, combining the food industry proficiency of Balaji Wafers, with their decades of experience in cultivating and processing potatoes, and the business acumen of the Iscon Group, an eminent real estate firm. Balaji Wafers, described as a valuable founder parent company, contributes over 40 years of experience in the potato industry, which remains a pivotal strength for IBF.
The company’s journey began primarily to address concerns faced by farmers in regions of Gujarat, particularly related to undersized potatoes used for chips and wafers, which resulted in wastage and revenue loss. IBF initially focused on manufacturing potato flakes using these undersized potatoes, thereby utilising a huge chunk of previously unutilised produce and boosting farmers’ income. By 2016, IBF diversified its business, venturing into the manufacturing of frozen french fries.
Today, IBF boasts a wide range of products. Their offerings include Dehydrated Potato Flakes, available in Extrusion Grade for savoury makers and Caterer Grade for the HORECA and Bakery industry, used in applications like Paratha, Tikki, Kitchen Koftas, Gravies, Puff Filling, and Coating. Their Frozen Foods range features various French Fries, including Straight Cut 6x6mm, 9x9mm, 11mm Skin on French Fries, Fiery Fries (Masala Coated), and Everlast Fries (The Coated Solution). They also produce Speciality Products and Burger Patties, such as Potato Cheese Shots, Chilly Garlic Potato Shots, Roasties (Hash Brown), Aloo Tikki, Herbed Potato Wedges, Herb Potato Patty, and Premium Veggie Decker.
Driving the company’s operations is Mr. Neel Kotak, the Managing Director, an alumnus of the Indian Institute of Technology, Bombay. The company is also managed by professionals experienced in their respective divisions
IBF operates on a large scale, noted as Asia’s largest dehydrated potato flakes manufacturer and having the largest potato French-fry line in India. The company possesses four manufacturing facilities, located in Gujarat and Punjab, with specific plants mentioned in Anand (for flakes), Valsad, and Indore (for Floveyor systems). These facilities collectively process over 400 million kilograms of potatoes every season.
A core aspect of IBF’s operations is its integrated approach, with end-to-end involvement in the supply chain. They are significantly involved in potato farming, spreading across over 25,000 acres of land spanning across 5 states and associated with over 4000 farmers. IBF actively supports farmers through initiatives like providing technical and infrastructural support, encouraging adaptation to latest techniques, supplying seeds, monitoring crop health, and buying back the crop at a pre-approved price, aiming to secure farmer income and improve yields. This model is designed to be progressive and beneficial for farmers, contributing to better finished products for consumers.
IBF’s market reach extends across 200 towns in India and over 20 countries worldwide. Turnover is expected to rise to Rs 1,500-1,550 crore in fiscal 2025 and potentially Rs 1,500-2,000 crore over the medium term. They currently export to the Middle East and South East Asian countries and plan to enter new global markets, including European and US markets in the future. Their customer base includes established players in the fast-moving consumer goods segment, such as Haldiram, ITC, and Bikaji.
At its core, IBF states that what drives the organisation is a “farmer’s heart,” aiming to make the Indian farmer the “real hero”. They are committed to enhancing farmer income through R&D and introducing high-yield varieties. The company also emphasizes adopting the latest technological innovations and maintaining high hygiene standards.
Iscon Balaji Foods has established itself as a key player in the potato processing industry in India and globally. With a focus on farmer welfare, strategic expansion, and operational efficiency, the company is positioned for continued growth, aiming to further strengthen its market position and financial profile.
