Nuts and dried fruits brand Nutraj recorded a 25 per cent growth in revenue to Rs 900 crore in the year ending March 31, 2022, said Gunjan Jain, Managing Director of VKC Nuts.
VKC Nuts is the parent company of Nutraj. Last year, the brand recorded a revenue of Rs. 742 cr. Jain shared that increasing awareness around health, the implementation of GST and new product offerings supported the company’s growth.
He said that in the next financial year, the brand aims to record a revenue of Rs 1,500 crore. VKC Nuts is one of the oldest and largest players in the country that sells, processes, packs, distributes, exports, and imports nuts and dried fruits.
Presently, VKC Nuts has seven manufacturing plants in Bengaluru, Delhi NCR, Mumbai, and Jammu and Kashmir. By 2024, the brand aims to open eight more manufacturing units, each with a capacity of 10,000 metric tonnes, said Jain.
We have grown at a CAGR of 35 per cent. One of the reasons we have not been able to grow as fast as our sales asked us to, was because we did not set up manufacturing as quickly as our sales demanded. So now we’re expanding our manufacturing. In the next 2 years, we’re looking at almost doubling our processing capacity. “
The company sells both online and offline. On Amazon, Nutraj claims to be the market leader in the dried fruits and nuts category. VKC Nuts has also launched its exclusive brand outlets under the name ‘Nut Lounge’. In 2021, the company opened 6 new stores and plans to take the count of company-owned stores to a total of 25 and franchise stores to 50, by the end of December 2023, Jain shared. Speaking about the brand’s investment plans for the year, Jain said that the company will be investing in marketing, technology, manufacturing expansion, and new product launches.