Quick-service restaurant (QSR) chain Wow! Momo is set to invest ₹35 crore in a new 1 lakh sq. ft. manufacturing unit in Maharashtra to produce momos and kulfi, aiming to enhance production efficiency and reduce logistics costs.
The new facility, expected to go live by June 2025, will produce one million momos and nearly two lakh kulfis daily. The company’s current manufacturing capacity is spread across 60,000 sq. ft. across the East and North of India.
“The new unit will significantly lower costs by achieving better economies of scale and reducing logistics expenses,” said Sagar Daryani, Group CEO & Founder of Wow! Momo.
To further expand its footprint, the company plans to open another manufacturing unit in South India within the next two years.
Wow! Momo is also strengthening its FMCG segment by investing ₹5 crore to launch Wow! Noodles, an instant noodles range featuring Desi-Asian flavors like Thukpa, Khao Suey, Manchurian, Korean, and Chinese Bhel across 9 SKUs.
“Our entry into the instant noodles category expands our FMCG presence from just frozen momos to the ambient space as well,” Daryani explained.
Wow! Noodles are now available on quick commerce platforms such as Instamart, Zepto, Blinkit, and BigBasket, as well as major retail chains like Reliance, More Retail, Spencer’s, Spar, and Ratnadeep. The product is also stocked in 10,000+ general trade stores across 200+ towns and cities and features in in-flight menus of Akasa Air, Air India Express, and Spice Jet.
Currently, the production of Wow! Noodles is outsourced to a third-party manufacturer, but the company plans to build a dedicated manufacturing unit for it in the future.
Wow! Momo’s FMCG division, which launched two years ago, currently generates ₹5 crore in monthly revenue. The company is targeting ₹100 crore in FMCG revenue within 24-30 months.
The brand’s QSR segment is growing at 35%, while its FMCG division is expanding at 100%. The overall company’s EBITDA stands at (-) 5%, with the QSR segment contributing (-) 3% and FMCG (-) 44%.
“While our FMCG division is driving higher costs now, we expect the overall QSR business to turn 10% EBITDA positive within two years,” Daryani added.
For the current fiscal year, Wow! Momo aims to achieve ₹630 crore in revenue, up from ₹475 crore last year. By the next fiscal year, the company is targeting ₹840 crore in revenue and expects to reach ₹135 crore from FMCG alone within 24 months.
With aggressive expansion strategies and innovative product launches, Wow! Momo is positioning itself as a major player in both the QSR and FMCG sectors.