Homegrown ready-to-cook fresh food brand iD Fresh Food has set its goal to achieve revenue of Rs. 530 crores this fiscal year and is planning to clock Rs. 700 crores next fiscal. The brand is available in 35,000 retail outlets in 45 cities and has seen a growth of 30 to 35 percent this year. The brand claims to be 100 percent profitable this fiscal year and plans to invest heavily in brand building and acquiring new customers going forward.
PC Musthafa, CEO and co-founder of the brand, said, “Batter is the best-performing category for us, and we have seen 50 percent growth in the category followed by 33 to 34 percent growth in the parantha category.”
However, he said, “our growth in the dairy sector has been hampered due to increasing milk prices.”
With manufacturing units in Karnataka, Bengaluru, Hyderabad, Delhi, Mumbai, and Ajman (UAE), the brand’s manufacturing capacity has gone from 30,000 kg per day to over 100,000 kg per day. In the next six months, the brand is planning to open a larger, state-of-the-art manufacturing unit in Hyderabad.
“With the Delhi manufacturing unit, our reach to cities like Haryana and Chandigarh has also increased, and we will be clocking Rs. 2 crores in revenue per month starting from next month onwards,” he said. At present, the brand offers 10 SKUs and plans to introduce a “phulka” version of chapatti.
“We already have the iD chapati on the market, but it is not really similar to what we make at home.” “So, this is one of the main products that will be launched this year,” he said. Currently, the UAE accounts for one-third of the brand’s revenue, with the remaining two-thirds coming from India. Out of this two-thirds revenue, one-third is coming from e-commerce and q-commerce, and the rest is from general and modern trade.
The brand launched its products in the US and UK this fiscal year, and in the GCC region, it is looking to enter Bahrain, Kuwait, and Qatar. The brand has plans to come out with an IPO in the next 4-5 years, depending on market conditions.