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Haldiram Bhujiawala secures INR 235 crore investment from Bharat Value

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Ashutosh Dubey
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Haldiram Bhujiawala secures INR 235 crore investment from Bharat Value

Haldiram Bhujiawala Limited, a Kolkata-based company, has secured a significant investment. Bharat Value Fund has invested INR 235 crore (INR 2350 million) in exchange for a minority stake in Haldiram’s “Prabhuji” brand.

India’s snacks market stands at INR 426 Bn in FY24

Notably, India’s retail snacks market is expanding rapidly. It was worth INR 426 billion in FY24 and is expected to reach about Rs 955 billion by FY32, growing at an annual rate of 11 percent. Major players like Haldiram Bhujiawala, with their wide range of products and high quality, are likely to play a significant role in this growth.

Continue Exploring: MP Sudha Murty enlists Food Pharmer aka Revant Himatsingka for food adulteration research

According to India Retailing, Manish Agarwal, MD of Haldiram Bhujiawala released a statement regarding the funding, saying “In the last 60+ years, we have cultivated a loyal customer base by offering delectable snacks and sweets. Our company has been a trendsetter, revolutionising food habits and tastes of India. Leveraging our industry insights alongside BVF’s support, we are strategically positioned to enhance shareholder value and drive growth. This partnership lays a solid foundation for generating long-term economic benefits, ensuring a prosperous future for all stakeholders.”

Haldiram Bhujiawala supplies products to 200,000 retailers

Supplying products to over 200,000 retailers across India through 2,000 distributors, 

Haldiram Bhujiawala has a vast network. The company also operates 19 owned stores and 60 franchise stores. With its new investment, Haldiram plans to expand its manufacturing capacity and increase its presence beyond Eastern India. Its three facilities currently have a combined production capacity of 6,035 metric tons per year, positioning the company for significant growth and expansion into new regions.

Continue Exploring: FMCG sector sees 5.7% value growth amid 6% surge in rural consumption

Furthermore, Madhu Lunawat, CIO of Bharat Value Fund added, “We are pleased to partner with Haldiram Bhujiawala Limited. With over six decades of market insight since its founding as a proprietorship in 1958, the company has a deep understanding of consumer behavior and market trends. The new generation’s sharp focus on the modern brand, ‘Prabhuji,’ is particularly noteworthy. We are highly optimistic about the food, FMCG, and consumer goods sectors, and Haldiram is well-positioned to achieve substantial growth in the years ahead.”

With six decades of experience, the snack brand is a well-known brand in Eastern and North-Eastern India. Its popular “Prabhuji” products and restaurants have become synonymous with quality snacks. The company’s brand appeal is enhanced by celebrity endorsements and innovative marketing approaches that resonate with younger generations.

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MP Sudha Murty enlists Food Pharmer aka Revant Himatsingka for food adulteration research

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Ashutosh Dubey
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MP Sudha Murty enlists Food Pharmer aka Revant Himatsingka for food adulteration research

Rajya Sabha MP Sudha Murty contacted content creator Revant Himatsingka, also known as Food Pharmer, to assist with research on food adulteration for the Upper House.

Food Pharmer works with Sudha Murty during Monoon Session

Earlier, Food Pharmer helped her during the Monsoon Session and will assist her again in the upcoming Winter Session of the Rajya Sabha. Famous for promoting healthy living and holding brands accountable for their ingredients, Himatsingka called Murty the “most humble person” he has ever met, as per News 18.

Continue Exploring: Food brands sell less nutritious products in lower-income countries, report reveals

He mentioned that she reached out to him directly via WhatsApp “like a friend.” Himatsingka wrote on X, “My biggest honour in my journey as Food Pharmer is when Sudha Murty Ma’am contacted me to provide research on food adulteration for Rajya Sabha.”

Further he attributed Murty as the “most humble person” he has ever met and compared her to social media influencers. He stated, “I’ve come across influencers with 1 lakh followers with more attitude than her.”

Food Pharmer to tackle food adulteration in the Rajya Sabha

In addition, Himatsingka praised Murty for being unusually approachable, saying, “Unlike most public figures who usually hide behind managers, she directly WhatsApps almost like a friend.” He shared exciting news about their collaboration to tackle food adulteration in the Rajya Sabha.

Continue Exploring: FMCG sector sees 5.7% value growth amid 6% surge in rural consumption

In a speech during the Parliament’s Monsoon session, Murty emphasised, “What kind of food we eat and what kind of disease we get, we should think in the modern era. Cancer cases are arising in our country due to adulteration and many more reasons.”

Meanwhile, she pointed out three problematic ingredients commonly used in the hotel industry: synthetic colour, synthetic vinegar, and tasting powder. Next, she warns, “They [ingredients] look nice, it is tasty, but people are not aware that it will become a problem in the future.”

In the end, Himatsingka is thrilled to collaborate with Sudha Murty, expressing excitement about assisting her with research during the upcoming Winter Session of the Rajya Sabha. He’s inspired by the potential impact of powerful individuals uniting for a common good, saying, “Excited to assist her with research during the upcoming Winter Session of the Rajya Sabha as well. Imagine, if the world’s most powerful people got together and fought for what is right.”

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FMCG sector sees 5.7% value growth amid 6% surge in rural consumption

By
Ashutosh Dubey
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FMCG sector sees 5.7% value growth amid 6% surge in rural consumption

Rural demand for FMCG products like flour and soap grew over twice as fast as urban areas in the September quarter, due to a good monsoon season. Meanwhile, middle-class people in cities cut back on spending due to high food inflation.

FMCG registers 2.8% quarterly growth in urban areas 

According to Times of India, the FMCG industry saw a 2.8% growth in urban areas in the September quarter. This is lower than the 11% growth in the same quarter last year and only slightly better than the 2.1% growth in the June quarter, as per data from NielsenIQ.

Continue Exploring: Aditya Birla’s TMRW registers 2X revenue growth to INR 175 Cr YoY in Q2

Meanwhile, rural consumption increased to 6% in Q3 from 5.2% in Q2. Analysts at the consumer intelligence firm said, “Rural areas continue to surpass urban areas in volume growth across most regions of India.” The FMCG sector saw a growth of 5.7% in value and 4.1% in volume in Q3. Analysts believe that a good monsoon season likely improved incomes, boosting rural consumption.

Additionally, festivals like Raksha Bandhan and Onam in the quarter boosted spending. This is shown by food consumption growth, which rose to 3.4% in Q3 from 2.1% in Q2.

Small Manufacturers hold edge over FMCG – NIQ

“The uptick in volume growth is attributed to staple categories – edible oils, packaged atta and spices – despite price growth. Small manufacturers recovered from the consumption decline of the last three quarters and grew faster than giants… this is led by sharp recovery in volume growth in food for small players,” NIQ stated.

Continue Exploring: Food brands sell less nutritious products in lower-income countries, report reveals

Furthermore, independent consumer consultant Akshay D’souza noted that in urban India, most FMCG companies focus on premium packs, but high food inflation may have reduced sales of these expensive packs. He said, “All big FMCG firms like Nestle and Dabur have been expanding their rural coverage which has also added to growth in the regions.”

Recently, companies reported sluggish sales in urban areas, particularly among lower-middle-class and low-income households. Government programs have provided some relief from food price inflation, but the impact remains.

“In big cities, there is a trending down of growth… let’s not forget that urban has been driving the engine of the FMCG industry for the last several quarters, they are operating on a high base and some normalisation is expected,” Rohit Jawa, CEO & MD at HUL, said previously in August.

Notably, FMCG majors like HUL, Marico, Dabur, and Tata Consumer Products have raised their prices due to rising commodity costs. How this affects consumer spending in the next few quarters remains to be seen.

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Aditya Birla’s TMRW registers 2X revenue growth to INR 175 Cr YoY in Q2

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Ashutosh Dubey
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Aditya Birla’s TMRW registers 2X revenue growth to INR 175 Cr YoY in Q2

Aditya Birla Group’s TMRW house of brands, more than doubled its revenue to INR 175 crore in the second quarter of FY 2024-25, up 105% from INR 85 crore in the same period last year.

TMRW reduces EBITDA loss to INR 38 Cr

As per INC42, in the first half of the fiscal year under review, TMRW’s revenues increased by 101% year-on-year (YoY) to INR 318 crore, compared to INR 158 crore in the first half of FY24. Parent company Aditya Birla Fashion and Retail stated that TMRW slightly reduced its EBITDA loss to INR 38 crore in the quarter under review, down from INR 39 crore in Q2 FY24, in an exchange filing with the Bombay Stock Exchange (BSE).

Continue Exploring: Day 2: Swiggy’s IPO continues to receive lukewarm response with only 35% subscription

Nonetheless, the negative EBITDA margin significantly improved to 21.8% in the quarter ending September 2024, from 45.3% during the same period last fiscal year. On the operational side, parent company and Retail saw more than 30% YoY growth in overall ecommerce sales in Q2 FY25. However, the exact sales figures were not disclosed.

TMRW to acquire 30 fashion brands by 2025

Backed by the Aditya Birla Group, TMRW was founded in June 2022. The company plans to build a portfolio of 30 fashion and lifestyle brands by 2025 through acquisitions or by creating new brands.

Later on, the company has quickly expanded its operations and invested in multiple D2C brands. In 2022, it acquired stakes in startups like Berrylush, Bewakoof, Juneberry, Natilene, Nauti Nati, Nobero, Urbano, and Veirdo. In 2023, it invested INR 155 crore in The Indian Garage Co (TIGC). So far in 2024, it has increased its shareholding to over 32% in WROGN, a fashion brand backed by Virat Kohli, through at least two funding rounds.

Continue Exploring: Lite Bite Foods launches Pan-Asian YOÜMEE outlet at Dwarka

Meanwhile, TMRW operates in India’s fast-growing direct-to-consumer (D2C) apparel market, which has expanded rapidly due to increased internet and smartphone usage. This growth has led to the emergence of over 200 fashion ecommerce startups in the country, raising more than $2.2 billion between 2018 and 2023.

The Indian fashion ecommerce market is expected to grow to $112 billion by 2030, 

as reported by INC42.

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Food brands sell less nutritious products in lower-income countries, report reveals

By
Ashutosh Dubey
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Food brands sell less nutritious products in lower-income countries, report reveals

Global food giants offer healthier options in wealthy nations but sell less nutritious products in lower-income countries, a recent report reveals.

Report alleges Nestle, Pepsico, Unilever to dump items in poorer countries

According to Reuters, a recent report from the Access to Nutrition Initiative (ATNI) evaluated products from companies like Nestle, Pepsico, and Unilever. It found that, among 30 companies, products sold in low-income countries were less healthy, scoring lower on a rating system from Australia and New Zealand, compared to those sold in high-income countries. This is ATNI’s first report since 2021.

Continue Exploring: Day 2: Swiggy’s IPO continues to receive lukewarm response with only 35% subscription

Notably, the Health Star Rating system reveals a concerning disparity in the nutritional quality of products sold by multinational food companies. In low-income countries, their products received a dismal rating of 1.8 out of 5, whereas in high-income countries, the rating was 2.3. This difference highlights the unequal access to healthy food options, with poorer countries facing limited availability of nutritious products.

While talking to Reuters, Mark Wijne, research director at ATNI said, “It’s a very clear picture that what these companies are selling in the poorest countries in the world, where they are more and more active, are not their healthier products.” He added, “It’s a wake-up call for governments in these countries to be vigilant.”

70% of Global Obesity in Low and Middle-Income Countries: World Bank

This is the first time the index has assessed low and high-income countries separately. ATNI stated the index is crucial because packaged foods contribute to the global obesity crisis. According to the World Health Organization, over one billion people worldwide are obese. The World Bank estimates that 70% of overweight or obese people live in low-and-middle-income countries.

Continue Exploring: ED raids sellers linked to e-commerce giants Amazon and Flipkart 

Meanwhile, Nestle released a statement saying, “We have committed to grow our sales of more nutritious foods, as well as guiding people towards more balanced diets.” The spokesperson added that Nestle also fortifies products to help close nutrient gaps in developing countries. 

Regarding the report, Pepsico chose to not speak yet. Last year, the company set new goals to lower sodium in its potato chips and add ingredients like whole grains to its foods.

Furthermore, Isabelle Esser, Danone‘s chief research, quality, and food safety officer, said, “We acknowledge that there is always more to do, both at a business and industry level.” Danone was the top performer in the index.

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Day 2: Swiggy’s IPO continues to receive lukewarm response with only 35% subscription

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Ashutosh Dubey
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Day 2: Swiggy's IPO continues to receive lukewarm response with only 35% subscription

Swiggy‘s INR 11,324 crore IPO saw a slow response on the second day persistently, with only 35% of the shares being subscribed. Bombay Stock Exchange (BSE) data shows that investors bid for 5.57 crore shares out of the 16.01 crore shares available.

Retail investors subscribes 84%, employee portion at 1.15x

By the end of Day 1, retail investors had subscribed to 84% of their allotted shares. The employee portion was oversubscribed at 1.15 times. Non-institutional investors bid for 59.14 lakh shares out of the 4.34 crore shares available, resulting in a 14% subscription.

Continue Exploring: Swiggy’s IPO receives 11% subscription on opening day, sluggish start

According to INC42, in the meantime, InCred Equities gave the Swiggy IPO a ‘Subscribe’ rating. They said, “We recommend subscribing to the IPO as favourable scale and long-term opportunities in quick commerce provide growth runaway while the food delivery vertical has the potential to improve the margin and cash flow going ahead.”

Earlier on day 1st, Swiggy had a weak start on Wednesday, November 6, with only 12% of shares subscribed. On November 5, Swiggy raised INR 5,085 crore from anchor investors.

Swiggy’s price per shares lies between INR 371 to INR 390

Notably, the food delivery platform has set a price range of INR 371 to INR 390 per share for its public offering. At the high end, the company plans to raise INR 11,324 crore. The fresh issue part of the IPO has been increased to INR 4,999 crore, while the offer for sale (OFS) part has been slightly reduced to 17.5 crore shares.

Continue Exploring: Swiggy secures INR 5,085 Cr before IPO, issues 13.03 Cr shares

Meanwhile, Swiggy’s initial public offering (IPO) is set to launch on November 13 on the BSE & NSE, aiming for an $11.3 billion valuation. Early investors Accel India and Elevation Capital are expected to earn impressive returns, more than 34 times their initial investment, by selling some of their shares.

Furthermore, the food tech giant’s financial performance for the first quarter of FY2024-25 showed mixed results. The company’s operating revenue grew 35% year-on-year to ₹3,222.2 crore, indicating strong growth. However, its consolidated net loss also increased by 8% to ₹611 crore during the same period.

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ED raids sellers linked to e-commerce giants Amazon and Flipkart 

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Ashutosh Dubey
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Flipkart & Amazon image
ED raids sellers linked to e-commerce giants Amazon and Flipkart 

India’s Enforcement Directorate (ED) conducted surprise raids on Thursday, November 7 at offices of sellers linked to Amazon and Flipkart, amid growing scrutiny of e-commerce platforms.

Amazon & Flipkart sellers under radar due to violation of act

According to Reuters, the search operations were linked to a probe into alleged violations of the Foreign Exchange Management Act (FEMA). The raids took place at the offices of select sellers in New Delhi, Mumbai, and Bengaluru, as reported by ED officials. News agency PTI also reported that the raids were conducted in Gurugram and Hyderabad.

Continue Exploring: Emami revenue grows by 3%, reports strong quarter

While talking to ET, a government official stated, “The raids on sellers of Amazon and Flipkart is a part of ED’s probe … for alleged violations of foreign exchange laws.” The ED has increased scrutiny on Amazon and Flipkart due to financial transactions made by “preferred” vendors and sellers on their platforms.

CCI instructs Amazon & Flipkart to submit Q2 results

This development follows reports from months ago stating that the Competition Commission of India (CCI) found Amazon and Flipkart violated competition laws by favouring select sellers on their platforms. The antitrust watchdog then instructed the companies to submit their recent financial statements to determine the penalties to be imposed.

Continue Exploring: Swiggy’s IPO receives 11% subscription on opening day, sluggish start

Notably, the Indian government is under pressure to regulate e-commerce platforms, particularly Amazon and Flipkart, due to concerns about unfair business practices. Recently, Praveen Khandelwal of the Confederation of All India Traders (CAIT) urged the government to suspend these platforms’ operations, citing harm to India’s manufacturing sector. He’s pushing for stricter rules to ensure fair competition and prevent monopolies.

Regardless of regulatory pressure, Amazon and Flipkart continue to grow in India’s e-commerce market. Recently, Amazon’s Great Indian Festival 2024 saw 140 crore customer visits, while Flipkart recorded 720 crore engagements during the festive season.

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Lite Bite Foods launches Pan-Asian YOÜMEE outlet at Dwarka

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Ashutosh Dubey
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Lite Bite Foods launches Pan-Asian YOÜMEE outlet at Dwarka
Lite Bite Foods launches Pan-Asian YOÜMEE outlet at Dwarka

Lite Bite Foods has opened its 23rd YOÜMEE outlet at Vegas Mall in Dwarka, marking the brand’s exciting entry into the city centre.

According to ET Hospitality, Rohit Aggarwal, co-founder and managing director of Lite Bite Foods, released a statement regarding the launch, saying “We are thrilled to welcome YOÜMEE to Dwarka! Our mission has always been to provide accessible, high-quality Pan Asian cuisine in innovative ways. With this new outlet, we aspire to become the go-to dining destination for the residents of Dwarka, seamlessly blending art, food, and culture.”

Continue Exploring: The Hosteller secures INR 48 Cr from V3 Ventures for expansion

YOÜMEE serves south asian cuisine

Inspired by manga, YOÜMEE is a Pan-Asian restaurant that takes diners on a thrilling food adventure. Its new location offers a diverse and immersive experience, showcasing the bold flavours of Asia. The menu is a vibrant tapestry of flavours, featuring delicate dim sums, expertly crafted sushi, vibrant noodle dishes, and many more Asian favourites. With something for every taste, YOÜMEE brings the authentic flavours of Asia to the table.

YOÜMEE’s interior is inspired by Japanese Manga comics, creating a fun and stylish atmosphere. Colourful illustrations of popular Manga characters add a modern touch, making dining a visual treat. The restaurant’s comfortable design makes it perfect for family gatherings, casual meetups, or solo meals.

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CakeZone announces actress Palak Tiwari as new ambassador

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Ashutosh Dubey
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CakeZone announces actress Palak Tiwari as new ambassador: pic credit|| businessoffood

CakeZone, a leading dessert brand from the House of Curefoods, has announced the appointment of popular actress Palak Tiwari as its official brand ambassador for the next year.

CakeZone to foster brand value in Gen Z via Palak Tiwari

Palak Tiwari’s partnership with CakeZone is happening at an exciting time, as the brand aims to connect more with young people who value quality and creativity in their celebrations. Known for her engaging personality and strong appeal to Gen Z, Palak is the perfect ambassador to showcase CakeZone’s innovation in desserts. Together, they aim to bring joy to celebrations across the country, creating lasting sweet moments.

Continue Exploring: Pernia’s Pop-Up Shop to raise INR 250 Cr for expansion ahead of IPO

According to India Retailing, Palak released a statement regarding, “I am thrilled to be part of the CakeZone family! Their commitment to blending tradition with modernity perfectly aligns with my own values. These festive hampers are a way to share love and joy with our loved ones during this beautiful festival.”

Meanwhile, CakeZone invites everyone to check out its special festive hampers during festive days, designed to enhance the spirit of celebration. The brand focuses on honouring love, joy, and togetherness with these curated offerings.

CakeZone operates in 35 cities across India

Furthermore, Ankit Nagori, Founder, Curefoods, commented, “We are excited to have Palak Tiwari on board as our brand ambassador. Her vibrant personality and connection with the new generation resonate perfectly with our vision. Our festive hampers are designed to make every celebration special, and we believe that with Palak’s influence, we can inspire more people to celebrate with meaningful gifts.”

Continue Exploring: Delhi HC bars Alpino from negative Oats ads following Marico lawsuit

Established in 2016 in Bangalore, CakeZone is a cloud-kitchen dessert brand currently operating in 35 cities with over 160 cloud kitchens. The brand plans to expand to other important cities soon and aims to become a national dessert brand.

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Emami revenue grows by 3%, reports strong quarter

By
Ashutosh Dubey
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0
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Emami revenue grows by 3%, reports strong quarter

Emami Limited‘s Board reviewed its financial results for the quarter ending September 30, 2024. Despite India’s retail challenges, Emami’s revenue grew 3% to INR 891 crore, with domestic sales up 2.6%.

EBITDA at 7%, PAT to INR 220 Cr

Furthermore, the fmcg brand reported a strong quarter, with gross margins increasing by 0.6% to 70.7%. The company’s EBITDA rose 7% to INR 250 crore, while EBITDA margins expanded by 1.1% to 28.1%. Profit Before Tax grew 13% to INR 220 crore, with a 2.2% margin improvement. Additionally, Profit After Tax surged 19% to INR 213 crore, demonstrating Emami’s robust financial performance.

Continue Exploring: Protinex team up with Apollo Health on World Diabetes Day for free diagnosis offer

According to India Retailing, Harsha V Agarwal, Vice Chairman and MD of Emami commented, “We are pleased to close the first half of the year with strong performance, achieving 6 percent revenue growth, 10 percent EBITDA growth, and a 16 percent profit increase despite macroeconomic challenges. For H2 FY25, we expect stronger offtakes driven by improved rural demand and stable seasons ahead.”

Emami grows 12% globally, 6% in Q2 FY25

Emami’s international sales grew 12% (excluding Bangladesh) and 6% overall for Q2FY25.

Despite global challenges, Emami’s international business saw strong growth, with sales up by double digits excluding Bangladesh. According to Agarwal, new products and strategic investments will drive double-digit revenue growth in the second half of the year.

Continue Exploring: KL Rahul-backed fitness brand Boldfit secures INR 110 Cr from Bessemer Partners

Notably, Emami’s key brands, like Navratna and Dermicool, as well as their healthcare and pain management products, experienced steady growth. In the second quarter of FY25, Emami introduced 11 new products to enhance their offerings. These new items include DermiCool Sweat Reliever Super Active Talc, Ice Cool Shower Gel, and various personal care products such as De-Tan and Deep Cleansing Face Wash, Style Lock Shampoo, Fresh Impact Body Wash, and two EDT perfumes under the ‘HE’ brand.

Adding to Emami’s performance, Mohan Goenka, Vice Chairman and Whole-Time Director, stated, “Organised channels like Modern Trade, e-Commerce, and Institutional sales now contribute 26.6 percent to our domestic business, a 190-basis point increase in the first half. We remain committed to achieving high single-digit revenue growth and double-digit EBITDA growth for FY25.”

Meanwhile, Emami’s healthcare segment expanded with new products on the Zanducare portal, including daily health supplements and hair growth serum. BoroPlus Soft cream was also relaunched with new packaging. 

Moving forward, Emami plans to revamp its Fair and Handsome brand and prioritise Kesh King to solidify its market position. With a promising winter outlook, the company anticipates a strong showing from its winter product lineup.

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