Suminter is the consumer company of the year: VCCircle Awards

3 weeks ago

Suminter India Organics Pvt Ltd, one of the country’s leading exporters of organic produce, has bagged the News Corp VCCircle consumer company of the year award.

The Mumbai-based company pipped four nominees to walk away with the award at the glittering sixth annual VCCircle awards ceremony.

The winner was decided by an eminent jury panel chaired by Arun Duggal, the chairman of ICRA, an Indian subsidiary of ratings agency Moody’s.

Suminter India Organics, which was launched in 2003 by Sameer Mehra Vijaykumar, has been playing a vital role in connecting small Indian farmers with global buyers seeking high-quality organic produce. The company exports organically-grown agro products, including oilseeds, cereals, fibres, herbs and medicinal plants, spices, seasonings, spice mixes, ready-to-eats and other specialty products.

Suminter had initially helped the farmers to secure certificates for organic farming – a process that took almost three years. As of March 2014, Suminter has certified over 20,000 farmers across nine states and is in the process of helping many more.

Its efforts to deliver fresh produce with high nutrient content to consumers also played a part in its selection for the award. The company was also recognised for its corporate social responsibility activities, which benefitted the rural population both economically and socially.

Its efforts in convincing a considerable number of farmers to switch to drip irrigation method, a solution towards water conservation, was also acclaimed. The company had provided a subsidy of Rs 35,000 to those who intended to adopt modern irrigation technologies.

Suminter has seen its consolidated sales grow at over 30% in 2015-16 to Rs 334 crore. Its consolidated net profit more than tripled in 2016.

It had roped in several institutional investors, such as venture capital firm Nexus Venture Partners and alternative asset management firm Capricorn Capital Partners, to be part of its growth story.

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Suminter is the consumer company of the year: VCCircle Awards

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