Rishab Jain, Founder of Mr. Makhana, is gearing up to take the snack brand to new heights. The D2C player, known for its flavored makhana offerings, is setting ambitious goals for 2025, including crossing Rs 100 crore in revenue and expanding into the ready-to-eat (RTE) and beverages sectors.
Rs 100 Crore Target in Sight
Speaking about the numbers, Jain reveals that the company is on track to surpass Rs 100 crore in revenue this fiscal year, with domestic sales alone contributing to this milestone. “We’ve already crossed Rs 75 crore and expect to hit the Rs 100 crore mark by March. Our distribution is split between 60% general trade (GT), 40% e-commerce and quick commerce, and 10% modern trade (MT),” he shares.
The brand’s steady growth can be attributed to its distribution-first approach. “We went state by state, taking it slow. Instead of spreading ourselves too thin, we made each market a hub, ensuring a steady 5-10% month-on-month growth before expanding further,” Jain explains.
The company also faced unique challenges while entering southern markets, where makhana was relatively unknown. “South was the biggest challenge for us,” shares Jain. “We relied heavily on sampling and promotions to educate consumers and build trust in the product.”
Navigating Cost Pressures and Market Fluidity
Operating in a crowded market comes with its own set of challenges, especially with the volatility in raw material prices. Jain reflects on how makhana costs have surged from Rs 300 per kg to over Rs 800, (around 120%) significantly impacting profitability. “This has forced us to carefully evaluate new product launches and infrastructure investments while maintaining quality and innovation,” he says.
Despite these hurdles, Jain remains steadfast in his vision. “The key is to leverage our distribution network and introduce complementary products that can piggyback on existing channels. For instance, our newly launched roasted cashews cater to a more premium audience with clean, oil-free, and fancy packaging,” he adds.
Jain emphasizes the importance of piloting new product development (NPD) efforts before scaling up. “We conduct small pilots in select regions to gather feedback. This helps us refine the product before a larger rollout,” he notes.
Exploring RTE and Beverages in 2025
Looking ahead, Jain has his eyes set on the RTE and beverages sectors. “Both categories are incredibly appealing, but the challenge lies in differentiating our products in a competitive market. Quality and taste will be our key focus,” he says.
One of Jain’s dilemmas is deciding between catering to the premium segment or the mass market. “If we go premium, we risk limiting our distribution to fewer stores. On the other hand, mass-market products require significant marketing and supply chain investments, which can strain unit economics. A potential solution is offering two variants—one premium and one cost-efficient,” he explains.
Branding Strategies for Diversification
As Mr. Makhana diversifies its portfolio, Jain is mindful of brand positioning. “Mr. Makhana is a specific brand name, so launching new products under different brands helps us maintain focus. For example, our cashew line is branded as ‘NutShack by Mr. Makhana,’ leveraging the trust we’ve built while giving the product its own identity,” he says.
The Road Ahead
Jain’s long-term strategy is rooted in thoughtful expansion and leveraging existing infrastructure. “Our goal is to keep introducing products that resonate with consumers while optimizing our supply chain and marketing efforts. With RTE and beverages in the pipeline, 2025 is poised to be a transformative year for Mr. Makhana,” he concludes.
