January 22, 2020
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They Ran Out Of Dough

They Ran Out Of Dough
Three years ago it was showcased as the first disinvestment by the Union government. When Hindustan Lever Ltd (HLL) bought Modern Foods for Rs 105 crore, there was much optimism that the loss-making company would be turned around. But now the HLL has announced its decision to wind up its supplementary nutritional foods unit—which was making profits till the UP government stopped placing orders with it after the sale—on Lawrence Road, Delhi. Modern Foods, supposed to be a Rs 2,100-crore company, was allegedly undersold. hll hasn’t indicated what it proposes to do with the SNF unit that occupies 16 acres of land worth Rs 110 crore.
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