Lotus Chocolate Company Ltd Company Summary

Lotus Chocolate Company Ltd Summary

Lotus Chocolate Company (LCCL) was promoted in 1988 by T Sarada and Vijayaraghavan Nambiar. At present, it is a subsidiary of Sunshine Allied Investments, Singapore. Its works is situated at Doulatabad in Andhra Pradesh.The company came out with its initial public offering in Oct.91, aggregating Rs 2.2 cr, to part-finance its Rs 8.4-cr project to manufacture cocoa and chocolate products for the export as well as the domestic market. It has a range of choco treats like Chuckles, Supercar, Tango Cashew, Tango Almond, Mystique Coffee and Mystique Orange. The company launched On & On sugar coated milk chocotreat in south India. LCCL was troubled by accumulated losses brought about by a delay of one-and-a-half years in the implementation of the project. LCCL retained Chocolate Confectionery Consultancy, UK, to provide technical services.The company has also entered into a marketing agreement with Cocoa Specialties, Malaysia, for the export of its entire production of cocoa derivatives and bulk chocolate.During the year 1999, a theme-based chocotreat - Kiddies and Pineapple Eclairs were launched and in the year 2000 three new products i.e. Maltys, Fun and Magi were launched and the consumer response has been encouraging.The Company is also concentrating on the export of Chocolates and Cocoa Powder to Nigeria and United States of America.