**Team24 Consumer Products Limited** (formerly known as **Kore Foods Limited**) is an Indian listed entity currently undergoing a comprehensive strategic and operational transformation. Following a change in control in **2024-2025**, the company has transitioned from a non-operational state with eroded net worth to a revitalized platform for the **Team24 Group’s** expansion into the Fast-Moving Consumer Goods (FMCG), hospitality, and logistics sectors. --- ### **Corporate Identity Evolution & Control Transition** The company underwent a definitive change in corporate identity and management following its acquisition by **Team24 Foods and Beverages Private Limited**. * **Rebranding:** Effective **August 05, 2025**, the company changed its name from **Kore Foods Limited** to **Team24 Consumer Products Limited** to align with the new promoter’s brand architecture. * **Acquisition Mechanics:** The transition was triggered by a Share Purchase Agreement (SPA) dated **October 09, 2024**, where outgoing promoters (including **New Vision Group Holding**) ceded control at a price of **₹1.91** per share. * **Capital Infusion:** The Acquirer completed a preferential allotment of **1,40,00,000 equity shares** on **November 20, 2024**, providing the necessary liquidity for revival. #### **Current Shareholding Structure (Post-Acquisition)** | Entity | Category | Shareholding (%) | | :--- | :--- | :--- | | **Team24 Foods and Beverages Pvt Ltd** | **Promoter (Acquirer)** | **72.52%** | | **Polaroid Corporation** | **Public** (Reclassified Oct 2025) | **3.51%** | | **Other Public Shareholders** | **Public** | **23.97%** | *Note: **Polaroid Corporation** was reclassified from "Promoter Group" to "Public" in **October 2025** following US bankruptcy proceedings and a court-ordered abandonment of its **9,00,000** shares.* --- ### **Diversified Business Mandate & Operational Verticals** Under the new management, the company has adopted a broad mandate covering the entire value chain of consumer goods—from R&D and manufacturing to global logistics. #### **1. Consumer Food, Beverages & Nutrition** The core of the business focuses on high-growth segments within the Indian food processing industry: * **Value-Added Foods:** Manufacturing of frozen foods, dehydrated products, pre-cooked meals, and canned goods. * **Bakery & Confectionery:** Production of bread, biscuits, cakes, chocolates, and confectionery. * **Beverage Portfolio:** Authorized to produce alcoholic and non-alcoholic drinks, including mineral water, fruit juices, beer, and spirits. * **Health & Wellness:** A specialized focus on protein foods, dietetic products, and nutrient-rich health drinks. #### **2. Personal Care, Homecare & Education** The company is leveraging the parent group’s expertise in cosmetics to enter the wellness segment: * **Cosmetics:** Manufacturing of perfumes, herbal creams, ayurvedic intermediates, and hair oils. * **Hygiene:** Production of oral care (toothpaste), detergents, soaps, and shampoos. * **Vocational Training:** Operating institutes for education in **Beauty, Wellness, Yoga, and Nutrition**. #### **3. Logistics & Supply Chain Management** To ensure operational efficiency, the company manages its own logistics: * **Movement & Warehousing:** Handling transportation via surface, sea, and air, alongside clearing and forwarding (C&F) services. * **Retail & Distribution:** Acting as a stockist, franchise manager, and export house for consumer goods. --- ### **Strategic Growth Initiatives & Infrastructure** The company is actively deploying capital to establish a physical and operational footprint across India. * **Dairy & Namkeen Expansion:** In **February 2026**, the company secured a contract to manufacture dairy sweets and Namkeen in **Panchkula**. This includes a job work agreement with the **Milk Union at Ambala** and the operation of a **VITA display retail store**. * **Sustainability Collaboration:** In **October 2025**, the company partnered with **Nable Pte. Ltd, Singapore**, to explore biodegradable technology and sustainable agricultural practices. * **Regional Presence:** A new **Administrative Office** was established in **Panaji, Goa** in **February 2026** to serve as a hub for regional operations. * **Modernization:** **₹14 Crore** from preferential issue proceeds has been earmarked for business expansion, technology modernization, and debt repayment. --- ### **Financial Performance & Capital Restructuring** The company has successfully executed a financial turnaround, moving from a "non-going concern" status to a profitable entity through debt settlements and capital infusion. #### **Key Financial Metrics** | Metric | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | :--- | | **Total Income** | **₹ 22.77 Lakh** | **Nil** | **Nil** | | **Net Profit / (Loss)** | **₹ 2.54 Crore** | **₹ (38.03) Lakh** | **₹ (39.84) Lakh** | | **Earnings Per Share (EPS)** | **₹ 0.99** | **₹ (0.33)** | **-** | * **Exceptional Gains:** The FY 2024-25 profit was primarily driven by an **exceptional income of ₹ 2.82 Crore**, resulting from a One-Time Settlement (OTS) where a **₹3.13 Crore** loan was settled for just **₹31.34 Lakh**. * **Capital Expansion:** To support future growth, the **Authorized Share Capital** was increased to **₹27 Crore**, and **Borrowing Limits** were raised to **₹100 Crore**. * **Preference Share Settlement:** The company redeemed long-standing **13.75% Non-Convertible Preference Shares** (due since 2003) through a fresh equity issue after securing a waiver on accumulated dividends. --- ### **Governance & Management Framework** The Board was reconstituted on **March 26, 2025**, to reflect the new ownership and bring in technical expertise. * **Leadership:** **Mr. Manzoor ul Haq Butt** serves as the **Managing Director**, bringing technical expertise to the food processing operations. * **Audit & Compliance:** **Agrawal Mundra & Associates (AMA)** has been appointed as Secretarial Auditor for FY 2025-26. * **Independent Oversight:** The board includes Independent Directors **Mr. Ganesh Shenoy** and **Mr. Sayed Abbas**. --- ### **Risk Factors & Investment Considerations** Investors should monitor the following risks associated with the company’s transition phase: * **Minimum Public Shareholding (MPS) Compliance:** Following the takeover, promoter holding reached levels (projected up to **98.50%**) that exceed the **75%** limit mandated by **SEBI LODR Regulation 38**. The promoters must divest a portion of their stake to meet regulatory requirements. * **Operational Ramp-up:** While the company has returned to "Going Concern" status, it is still in the early stages of restarting full-scale industrial operations after years of inactivity. * **Regulatory Surveillance:** The stock is currently trading under **Graded Surveillance Measure (GSM): Stage 1** on the BSE, indicating heightened monitoring by the exchange. * **Taxation:** The company has **not recognized Net Deferred Tax Assets** despite carried-forward losses, citing uncertainty regarding the timing of future taxable profits.