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Avio Smart Market Stack Signs Freeze-Drying MoU with Tripura, Aims to Create 1,300 Jobs
Avio Smart Market Stack Limited (ASMS), formerly Bartronics India Limited, announced on 14 July 2026 that it has signed a Memorandum of Understanding with the Government of Tripura to establish a freeze‑drying facility for fresh fruits and vegetables in the state.
The project, titled “A Freeze‑Drying Initiative on Fruits and Vegetables for Tripura,” is expected to generate about 500 direct jobs and 800 indirect jobs, for a total of roughly 1,300 positions. The facility will use low‑temperature dehydration to extend the shelf life of locally grown produce, reduce post‑harvest losses and improve access to domestic and international markets.
The MoU was signed during the Destination Tripura Business Conclave 2026, a two‑day event organized by the state’s Department of Industries and Commerce. According to reports, Dr Raja Krishna Murthy M, Head of Agri‑Tech Business at ASMS, met with Tripura Chief Minister Professor Dr Manik Saha, who reportedly welcomed the proposal.
Tripura, a northeastern state with a population of 3.67 million, has a strong agricultural base but faces challenges such as limited infrastructure and high post‑harvest losses. The state’s horticulture sector includes a variety of fruits, vegetables, spices, nuts and flowers, and the freeze‑drying plant is intended to strengthen the value chain and create employment.
ASMS has announced that it will operate the plant in partnership with state agencies, but the company has not yet disclosed the investment amount or the timeline for construction. The company’s website notes that it operates in six countries and focuses on digital transformation, sustainable agriculture and climate technologies.
The company’s stock is listed on the National Stock Exchange (NSE) under the symbol BARI. As of mid‑morning on 14 July, the shares were trading at ₹7.10, up 0.71 percent. Over the past year, the stock has fallen nearly 49 percent, compared with a 3.89 percent decline in the Nifty 50 index. The market capitalisation is about ₹216 crore.
The freeze‑drying initiative is part of a broader set of investment commitments announced at the same conclave. Tripura secured commitments of Rs 1,698 crore in agriculture and horticulture, including Rs 50 crore each from Tranz Analytics and Swadhin for precision farming and a horticulture institute, respectively.
Industry analysts note that freeze‑drying can preserve nutrients and flavour while reducing weight and volume, making it attractive for export markets. The technology is already used for instant coffee and other specialty foods.
The MoU does not yet specify the technology provider or the capacity of the plant. ASMS has indicated that it will bring its experience in agri‑tech solutions to the project, but no further details have been released.
The announcement comes at a time when Tripura is seeking to diversify its economy and create jobs in rural areas. The state’s Department of Industries and Commerce has highlighted the potential of horticulture as a growth engine.
ASMS’s board has not yet released an earnings report for the current fiscal year. The company is expected to report its Q3 2026 results in the coming weeks, but no guidance has been issued.
The partnership is a first‑of‑its‑kind for the state and could set a precedent for similar projects in other northeastern states. The success of the facility will depend on securing investment, building the plant, and integrating it into existing supply chains.
In summary, ASMS has entered into a MoU with Tripura to build a freeze‑drying plant that could create 1,300 jobs and reduce post‑harvest losses. The project is part of a larger investment push in Tripura’s horticulture sector. The company’s shares remain volatile, and investors will watch the upcoming earnings release for further insight into the company’s financial health.
The project, titled “A Freeze‑Drying Initiative on Fruits and Vegetables for Tripura,” is expected to generate about 500 direct jobs and 800 indirect jobs, for a total of roughly 1,300 positions. The facility will use low‑temperature dehydration to extend the shelf life of locally grown produce, reduce post‑harvest losses and improve access to domestic and international markets.
The MoU was signed during the Destination Tripura Business Conclave 2026, a two‑day event organized by the state’s Department of Industries and Commerce. According to reports, Dr Raja Krishna Murthy M, Head of Agri‑Tech Business at ASMS, met with Tripura Chief Minister Professor Dr Manik Saha, who reportedly welcomed the proposal.
Tripura, a northeastern state with a population of 3.67 million, has a strong agricultural base but faces challenges such as limited infrastructure and high post‑harvest losses. The state’s horticulture sector includes a variety of fruits, vegetables, spices, nuts and flowers, and the freeze‑drying plant is intended to strengthen the value chain and create employment.
ASMS has announced that it will operate the plant in partnership with state agencies, but the company has not yet disclosed the investment amount or the timeline for construction. The company’s website notes that it operates in six countries and focuses on digital transformation, sustainable agriculture and climate technologies.
The company’s stock is listed on the National Stock Exchange (NSE) under the symbol BARI. As of mid‑morning on 14 July, the shares were trading at ₹7.10, up 0.71 percent. Over the past year, the stock has fallen nearly 49 percent, compared with a 3.89 percent decline in the Nifty 50 index. The market capitalisation is about ₹216 crore.
The freeze‑drying initiative is part of a broader set of investment commitments announced at the same conclave. Tripura secured commitments of Rs 1,698 crore in agriculture and horticulture, including Rs 50 crore each from Tranz Analytics and Swadhin for precision farming and a horticulture institute, respectively.
Industry analysts note that freeze‑drying can preserve nutrients and flavour while reducing weight and volume, making it attractive for export markets. The technology is already used for instant coffee and other specialty foods.
The MoU does not yet specify the technology provider or the capacity of the plant. ASMS has indicated that it will bring its experience in agri‑tech solutions to the project, but no further details have been released.
The announcement comes at a time when Tripura is seeking to diversify its economy and create jobs in rural areas. The state’s Department of Industries and Commerce has highlighted the potential of horticulture as a growth engine.
ASMS’s board has not yet released an earnings report for the current fiscal year. The company is expected to report its Q3 2026 results in the coming weeks, but no guidance has been issued.
The partnership is a first‑of‑its‑kind for the state and could set a precedent for similar projects in other northeastern states. The success of the facility will depend on securing investment, building the plant, and integrating it into existing supply chains.
In summary, ASMS has entered into a MoU with Tripura to build a freeze‑drying plant that could create 1,300 jobs and reduce post‑harvest losses. The project is part of a larger investment push in Tripura’s horticulture sector. The company’s shares remain volatile, and investors will watch the upcoming earnings release for further insight into the company’s financial health.
