Nandu’s Foods has crossed a critical milestone in India’s notoriously difficult fresh food retail space by turning EBITDA positive while continuing to scale its operations. The Bengaluru-headquartered farm to fork meat and food company is emerging as one of the fastest growing organised players in the segment, backed by strong unit economics and tight operational control.
The company has built a monthly revenue run rate of over Rs 15 crore within a few years of launching its hyper local omnichannel model. Nandu’s reported revenue of Rs 121 crore in FY24, which grew to Rs 143 crore in FY25, and is tracking towards a run rate of nearly Rs 165 crore in FY26. Unlike many perishable goods businesses that struggle to balance growth and profitability, Nandu’s has achieved this while continuing to invest in new stores.
At the store level, mature outlets deliver EBITDA margins in the high teens to around 20 percent, allowing the company to remain profitable at a consolidated level even as it expands. Founder and CEO Narendra Pasuparthy attributes this performance to tight control over sourcing, processing and retail, which has helped reduce wastage, improve inventory turns and ensure consistent quality.
Today, Nandu’s operates more than 50 company owned stores and holds a strong leadership position in Karnataka. It also reaches consumers in over 35 cities through partnerships with quick commerce platforms. Customer loyalty has played a major role in sustaining margins, with repeat buyers accounting for 78 percent of total revenue in FY25.
While fresh meat remains the core of the business, consumer demand is increasingly shifting towards convenience. Ready to Cook and Ready to Eat products grew 20 percent year on year and now contribute close to 19 percent of overall revenue. High velocity items from the Heat and Eat range have gained traction across weekdays, weekends and festive occasions, supported by a clean label promise with no artificial colours or taste enhancers.
All products are developed in house and manufactured at the company’s 30,000 square foot FSSAI and FSSC certified facility, ensuring full traceability. With plans to scale to over 300 touchpoints in the next few years, Nandu’s is betting on disciplined expansion, regionalised products and sustainable operations to drive long term, profitable growth.
