Within the next 18 to 24 months, the company aims to achieve a total of 500 stores as part of its strategic growth objective. (Representative Image)
Barista, a renowned name in India’s coffee scene, made a bold move in August 2023 by unveiling the launch of nine new stores. This strategic expansion not only demonstrates the company’s commitment to growth but also reinforces its dominant position in India’s thriving coffee culture.
Mr. Rajat Agrawal, CEO of Barista Coffee Company, said, “We are thrilled about our ongoing growth and the opportunity to introduce meticulously crafted brews to new communities. Our objective is to provide a welcoming ambience and a consistent F&B experience to our guests at maximum points.”
The recently inaugurated outlets are strategically located across various cities, encompassing Bhawanigarh and Sangrur in Punjab, Bachhuan in Punjab, Jeowal in Punjab, Hansi and Hissar in Haryana, Hissar and Hansi Highway in Haryana, Gwalior in Madhya Pradesh, Shimla in Himachal Pradesh, Amazon Gurugram in Haryana, Delhi Airport T-1D in Delhi, and Shivaji Park in Mumbai.
Within the next 18 to 24 months, the company aims to achieve a total of 500 stores as part of its strategic growth objective.
After Zomato reported its first profitable quarter in Q1 FY24, brokerage firm Bernstein has indicated that the foodtech leader is setting higher standards for profitability. Consequently, they have increased the stock’s price target (PT) from INR 100 to INR 120.
In a research report published on Tuesday, September 12, Bernstein expressed its confidence that Zomato has the potential to achieve sustained, robust growth in food delivery over the long term, driven by ongoing enhancements in contribution margins.
“The company’s strong execution (market leader, 55% share) & ‘profit beats’ has reinforced investor confidence,” said the analysts at the brokerage analyst in the research note.
“Zomato stock has graduated from ‘GMV multiple’ to ‘profit multiple’ as medium term EV (Enterprise Value)/ EBITDA multiple look reasonable. We shift to a profitability approach for valuing food delivery,” the report said.
Bernstein’s price target (PT) suggests a 21.7% potential increase from Zomato’s closing price of INR 98.63 today on the BSE.
It’s important to highlight that amidst the growing focus of both retail and institutional investors on profitability, Zomato recorded a net profit of INR 2 crore in the June quarter of FY24, with operating revenue amounting to INR 2,416 crore.
The adjusted revenue of the food delivery business increased by 18.5% year-on-year (YoY) and nearly 14% sequentially, reaching INR 1,742 crore in Q1.
In an attempt to further strengthen its food delivery business, Zomato has implemented a platform fee of INR 2 and INR 3 for most customers. Kotak Institutional Equities recently indicated that this fee adjustment is poised to enhance the business’s customer take rate and contribution margin.
Following the release of the June quarter results, Zomato’s shares have experienced a 14% surge, contributing to a remarkable year-to-date (YTD) increase of over 70%.
Bernstein anticipates that Zomato’s consolidated adjusted revenue will exhibit a Compound Annual Growth Rate (CAGR) of 27% between FY24 and FY30.
Meanwhile, Equirus Securities, a brokerage firm, initiated coverage on Zomato yesterday, giving it a ‘long’ rating and setting a price target (PT) of INR 135. This PT suggests an upside potential of almost 37% from the stock’s last closing price. It’s important to note that ‘long’ is the highest rating assigned by Equirus Securities.
“Its (Zomato’s) dominance in the underpenetrated food delivery space should drive a robust 31% sales CAGR over FY23-FY28, making it one of the fastest growing players in India’s internet landscape,” said Equirus.
The brokerage holds the belief that Zomato is strengthening both customer and restaurant loyalty to its platform by offering a comprehensive range of products. This strategy is seen as consolidating its status as a prominent player within the industry.
Regarding Zomato’s quick commerce business, it was stated that Blinkit is expected to achieve contribution-level breakeven (after accounting for all variable costs) by FY24 and reach a contribution profit of INR 51 per order by FY28.
In its Q1 results, Zomato forecasted that Blinkit would attain breakeven on an adjusted EBITDA basis within the upcoming four quarters.
“Blinkit’s success has stemmed from its understanding of product-supply chains, enabling seamless coordination between warehouses and dark stores… Its proprietary tech stack, tailored for supply chain operations, is the backbone of its efficient operations,” said the brokerage.
Shares of Zomato ended today’s session 2.7% lower at the BSE.
In India, tea is not just a drink; it is an inseparable part of our lives and a cultural phenomenon. From the brisk morning chai that kickstarts our day to the soothing evening cuppa that helps us unwind, tea is more than just a drink—it is an experience. It transcends boundaries and binds people together. Whether it’s the comforting embrace of a cup of tea on a rainy day, the warmth it brings on a chilly winter morning, or the refreshment it offers on a scorching summer afternoon, tea is a versatile companion. It stimulates our senses, revitalizes our minds, and rejuvenates our bodies.
As the saying goes, “Where there’s tea, there is a hope,” and indeed, tea has the power to uplift spirits and kindle optimism. It’s a symbol of togetherness, a catalyst for conversations, and a source of solace during both good and bad times. And in a country where tea culture runs deep, in order to offer the quintessential tea-drinking experience, beyond the ordinary, Infused Kettle was born as a game-changer in the luxury tea industry, blending innovation with tradition to create an impact that is hard to ignore. In fact, it is not an overstatement to say that if you drink well, you feel well, and if you feel well, you do well. Thus, to be pleasant, why settle for wellness alone when indulging in a cup of tea can be your partner for all your moments?
Infused Kettle: Redefining the Art of Tea
In India, a cup of tea is not just a drink; it is an expression of love, a gesture of hospitality, and a remedy for a myriad of emotions. As a result, in a nation where tea is cherished as well as celebrated, Infused Kettle, a luxury tea brand, has made a remarkable entry into the luxury tea market by reimagining the tea drinking experience. With the simple yet revolutionary approach of transcending every occasion by offering diverse tea selections, Infused Kettle has transformed tea consumption into a luxurious, soul-soothing, and healthy affair. Striving to deliver a quintessential drinking experience with a vast range of delectable tea options, Infused Kettle teas are not just beverages; they are a symphony of flavors and aromas meticulously crafted to tantalize your senses. From the moment you steep their tea leaves, you embark on a journey of discovery.
The Journey from Tea Flavours To Gifting
From fancy authentic tea-leaf, which is still widely consumed in its ubiquitous milky and sugary form, to fruity flower tea, vintage tea, wellness tea, pure tea, iced tea, and party popper tea, in India, these flavors are rarely associated with tea. However, since its inception, Infused Kettle has introduced mixes and infusions infused with fruits, flowers, and flavors. This is where the tea market has witnessed an explosion of unusual and premium teas. In fact, the luxury brand journey began with a commitment to offering more than just tea; they aimed to offer an enchanting journey through flavors. In an era where numerous new-age tea brands were sprouting up, Infused Kettle stood out by blending the age-old tradition of tea-making with modern innovation.
Furthermore, by taking pride in offering an array of tea blends that cater to diverse tastes and preferences, the brand also offers gifting options. Which entails the sophistication of corporate gifting, the vibrancy of festivals, the grace of weddings, the joy of baby showers, the refinement of business gatherings, and even the spirited festivities of bachelorettes.
Whether you are a connoisseur seeking the rarest of teas or looking for a gift hamper based solely on comfort and personalization, Infused Kettle has something for everyone. Additionally, in a fast-paced world where moments of tranquility are a luxury, the Infused Kettle offers a gateway to serenity.
Gateway to Explore the World with Joyous Feeling!
Infused Kettle has made an indelible mark on India’s luxury tea sector. Their commitment to quality, innovation, and tradition has elevated the modest cup of tea to the level of an art form. Amid the chaos of modern life, Infused Kettle reminds us that sometimes all it takes to find joy is a perfectly brewed cup of tea. So, the next time you sip one of their magnificent blends, remember that you are not barely consuming just a drink, but a blend of innovation and tradition.
Shree Renuka Sugars, the largest refinery in India, primarily owned by Singapore’s Wilmar Sugar Holdings with a majority stake of over 62%, is on the verge of concluding an agreement to acquire Anamika Sugar Mills. This standalone factory is located in Bulandshahr, Uttar Pradesh, and the transaction is estimated to be valued at approximately INR 200 crore.
Although Shree Renuka Sugars officials were unavailable for comment, an email sent to Ashok Agarwal, a director at Anamika Sugar Mills, did not yield a response either.
According to industry experts in the sugar sector, smaller mills in Uttar Pradesh are finding it challenging to compete with larger corporations that have expanded and upgraded their operations. Many of these bigger companies have also diversified into distilleries, enhancing their overall profitability. Consequently, it is anticipated that more small mills may be absorbed by larger players in the industry.
Anamika Sugar Mills operates a facility in Bulandshahr with a daily sugarcane crushing capacity of 4,000 tonnes. Notably, the company currently lacks a distillery, indicating potential opportunities for expansion, according to insider sources.
Shree Renuka Sugars operates seven sugar mills across India, boasting a collective sugarcane crushing capacity of 35,000 tonnes per day (TCD). Additionally, the company possesses two port-based sugar refineries located in Gujarat and West Bengal, with a combined annual capacity of 1.7 million tonnes (MTPA). Furthermore, Shree Renuka Sugars is involved in the production of fuel-grade ethanol for blending with petrol, facilitated by its distillery, which has a total capacity of 930 kilo litres per day (KLPD), sourcing inputs from both molasses and rectified spirit.
Last week, India Glycols finalized the sale of its subsidiary, Shakumbari Sugar and Allied Industries, located in the Saharanpur district of Uttar Pradesh, near the Uttarakhand border. This transaction saw the closed plant being acquired by two Delhi-based firms, Faith Mercantile and RK and D Investment, as well as Mumbai-based Meir Commodities India, for a total sum of INR 90.28 crore, as per an official exchange filing.
Nestlé India is embracing millets as a key ingredient to offer consumers a wider array of food choices. In alignment with the government’s emphasis on millets, Nestlé India is developing a unique food lineup across its various brands, highlighting millets as a more sustainable dietary choice through collaborative efforts and inventive product offerings. As part of this endeavor, Nestlé India has introduced Nestlé a+ Masala Millet, which includes bajra and can be savored as a light and nutritious meal throughout the day.
Offered in two delectable flavors, Tangy Tomato and Veggie Masala, Nestlé a+ Masala Millet is available in a multi-serving pack priced at INR 175 for 240 gm and a single-serving pack priced at INR 30 for 40 gm. This product is rich in fiber, contains 30% fewer calories, and is devoid of added preservatives. It has been developed in collaboration with the Indian Institute of Millets Research (IIMR). Nestlé India has also introduced a range of other millet-based cereals, including Nestlé CEREGROW Grain Selection with ragi, Nestlé MILO Cocoa Malt with bajra, and Nestlé KOKO KRUNCH Millet-Jowar breakfast cereals.
India holds the distinction of being one of the world’s leading millet producers, contributing to 20% of the global millet production. In a significant partnership, Nestlé R&D Centre India in Manesar, a subsidiary of Nestlé S.A and an integral part of Nestlé’s global R&D network, has entered into a Memorandum of Understanding (MOU) with Nutrihub-IIMR. The primary objective of this collaboration is to work together in various domains, including millet processing, exploring the health and nutritional advantages of millets, promoting sustainable regenerative agricultural practices for millets, and fostering connections with innovative startups.
Commenting on the faster adoption of millets, Suresh Narayanan, Chairman and Managing Director, Nestlé India said, “Millets have been associated with India’s agricultural heritage and with 2023 identified as the International Year of Millets, it is only appropriate that it is brought to the forefront with increased awareness and suitable products. I am delighted to announce our ambition to incorporate millets into relevant product categories. We have already introduced millets into some of our products and the launch of Nestlé a+ Masala Millet is another step in that direction.”
Dr C Tara Satyavathi, Director, IIMR said, “Millets are superfoods and have high nutritional benefits which have been recognized both in India and worldwide. The focus this year will be to raise awareness on millets especially amidst the adverse and changing climatic conditions, while highlighting the opportunities it can create for producers, farmers and consumers. We are very pleased to collaborate with Nestlé India and to be able to offer the benefits of these super grains to a larger audience.”
Nestlé India’s efforts to champion millets underscore its dedication to advancing sustainable and varied food choices, all the while providing support to farmers and local communities. As the company progresses with its millet-centric strategy, it stands on the brink of making a substantial impact on the food industry and enhancing the range of food selections available to consumers.
Coffee Day Enterprises is poised to commence negotiations for a settlement with IDBI Trusteeship, who have initiated bankruptcy proceedings against the troubled beverage chain in an effort to recover outstanding debts on behalf of bondholders.
In a regulatory disclosure submitted to the stock exchange on September 8, Coffee Day revealed that IDBI Trusteeship had lodged a case against the company, seeking to recover INR 228 crore. Subsequently, on Monday, the company’s shares experienced a sharp decline of 14.6%, plummeting to INR 45 each in response to the news of the bankruptcy proceedings. This drop occurred after a recent surge in the company’s stock over the past few months, coinciding with increased efforts by Malavika Hegde, the widow of Coffee Day’s founder Siddhartha, to revitalize the company.
According to banking sources, Ares SSG acquired Coffee Day bonds at a reduced price through its specialized distressed asset fund. The asset reconstruction firm then triggered the bankruptcy proceedings through IDBI Trusteeship due to non-receipt of payments.
Lenders anticipate the company’s willingness to engage in a settlement, as in February, Phoenix ARC had initiated insolvency proceedings that were later withdrawn when the company cooperated for a resolution.
On April 27, Coffee Day subsequently engaged in a restructuring agreement with Phoenix ARC. The National Company Law Tribunal (NCLT) permitted the withdrawal of the petition on June 19, with the provision that Phoenix ARC could file a new company petition under the law if the restructuring agreement proved unsuccessful.
Earlier last month, the National Company Law Appellate Tribunal intervened by issuing a stay order on a corporate insolvency case filed in NCLT Bengaluru against Coffee Day Global, a subsidiary of Coffee Day Enterprises. This action came about as a response to the company’s appeal challenging the bankruptcy proceedings initiated by financial creditors. The crux of their argument was that the claims in question were related to a period when the government had declared a moratorium on loan repayments in light of the ongoing pandemic.
Beyond Snack, the pioneering Indian brand known for its Kerala banana chips, is embarking on a mission to revolutionize the world of retail snacking with a captivating and innovative product makeover. The brand is thrilled to present its newest offerings in the banana chips collection: Banana Waves, which come in two irresistible flavors – Cheesy Jalapeno and Sriracha Delight. These delectable options perfectly blend crunch and flavor, promising a truly memorable snacking adventure.
With a commitment to infuse a youthful vigor into a beloved classic, Banana Waves stand apart from traditional banana chips. According to Manas Madhu, Co-Founder of Beyond Snack, “In our market research, we identified the need to modernize traditional banana chips to align with the preferences of today’s younger consumers. Our goal was to reimagine this classic into something vibrant, thrilling, and irresistibly contemporary.”
Jyoti Rajguru, Co-Founder stated, “The transition from traditional snacks to Banana Waves has been fueled by the desire to craft a unique snacking experience tailored for a younger audience.” Distinctly different from regular banana chips, Banana Waves boast an innovative wave-like structure, promising a crunchier bite and a flavor profile enriched with continental undertones.”
In the Cheesy Jalapeno variation, the lushness of cheese seamlessly merges with the exhilarating heat of jalapeno, creating a harmonious blend that complements the innovative wavy structure flawlessly. On the other hand, the Sriracha Delight option orchestrates a captivating ensemble of robust and spicy flavors that gracefully dance upon the palate, further heightened by its exceptional texture.
Beyond Snack’s dedication to innovation extends to its packaging as well. The vibrant depiction of a colossal Banana octopus generating waves symbolizes the thrill within each bag. Gautam Raghuraman, Co-Founder of Beyond Snack emphasized, “Banana Waves Chips are not merely snacks; they are an embodiment of joy and exhilaration. We aimed to challenge conventions and create a product that ignites excitement from the very first bite.”
Banana Waves are now available at retail outlets in prominent Indian cities such as Mumbai, Pune, Bangalore, Hyderabad, and more. With a strong retail presence and nationwide online availability through renowned platforms like Amazon, Flipkart, Big Basket, Blinkit, Swiggy, and Zepto, consumers across India can embrace this wave-inspired snacking revolution. Both new variants are affordably priced at INR 50 for a 65g pack.
Gautam added, “Our objective was to redefine banana chips while preserving the wholesome goodness that our customers expect from us. The wave-like texture and the exotic flavors offer a more engaging experience that we believe our customers will cherish.”
With this release, Beyond Snack anticipates initiating a snacking transformation that resonates not only within India but also beyond its borders. Similar to all of Beyond Snack’s offerings, Banana Waves uphold the values of being non-GMO, devoid of cholesterol, and free from trans fats. They are meticulously crafted using the finest bananas and premium ingredients, ensuring a top-notch snacking experience.
Bacardi has completed its acquisition of the mezcal brand Ilegal, marking the culmination of a six-year journey since the spirits giant initially invested in the US-based company.
Ilegal, headquartered in Brooklyn, New York, was established by John Rexer after he commenced importing mezcal from Oaxaca, Mexico, to his bar in Antigua.
In 2017, Bacardi acquired an undisclosed minority interest in Ilegal. In addition to Bacardi, previous investors in Ilegal included the U.S.-based private-equity firm VMG Partners. Today, on September 11, Bacardi announced that it has become the exclusive proprietor of the Ilegal brand.
The agreement comes after rumors in February that the private-equity company L Catterton was engaged in talks to purchase Ilegal.
“We believe that Ilegal has the credentials to own and lead the super premium mezcal category at a global level. Ilegal perfectly complements our portfolio and bringing it into our business sets the brand up for even greater growth as mezcal captivates more and more consumers,” Bacardi vice chairman Barry Kabalkin said.
The mezcal distillery crafts three varieties: joven, reposado, and añejo.
Ilegal Founder Rexer said, “Success for Illegal goes beyond seeing more of our bottles on shelves; it’s about building our business the right way. We will always be committed to artisanal production, the Oaxacan community, and our core values. Being a part of Bacardi will bring Ilegal to a larger audience while maintaining our commitment to sustainability and growing the business responsibly.”
The increasing demand for mezcal has ignited merger and acquisition interest in the industry. Over the past few years, Pernod Ricard acquired Del Maguey, Diageo acquired Casa UM, the parent company of Mezcal Unión, and Campari Group acquired Montelobos.
In October last year, Pernod Ricard made a significant move by purchasing a majority stake in Código 1530, a distillery renowned for its Tequila and mezcal offerings.
BrewDog Distilling Co. is introducing Wonderland Cocktails, an exciting new lineup featuring five ready-to-drink (RTD) cocktails that promise the quality of a bar-made experience.
The newly introduced drinks encompass a selection of Classic Mojito, Classic Margarita, Espresso Martini, Cantarito Paloma, and Passionfruit Martini.
This collection incorporates an inventive aspect—each can contains varying liquid volumes, enabling consumers to shake particular cocktails for enhanced aeration and a smoother, more textured serving experience. These cocktails are crafted using BrewDog Distilling Co.’s recently introduced spirits: LoneWolf gin, Abstrakt vodka, DUO rum, and Casa Rayos tequila.
Wonderland Cocktails feature alcohol by volume (ABV) levels spanning from 10% to 14%, distinguishing them as premium, high-strength options within the market, all while maintaining the “bar-grade quality” standard. These cans are meticulously designed for at-home enjoyment, providing a top-tier cocktail experience that doesn’t compromise on quality.
Steven Kersley, director of BrewDog Distilling Co, said, “Wonderland Cocktails have arrived, and we’re going to share with you a collection of sumptuous cocktails which have been created with one mission in mind – to bring bar quality cocktails to you, to enjoy whenever the occasion demands a delicious drink”.
He continued, “Using our award-winning spirits alongside a selection of hand-picked ingredients we’ve crafted the Wonderland range of five classic cocktails. We’ve made sure that these cocktails taste unlike any other canned cocktail you’ve experienced before and that’s why our cans are slightly oversized. We’ve left just enough space for you to shake your cocktail, creating a silky flavour texture just like it would be in a bar.”
Classic Mojito and Cantarito Paloma have 10% ABV, whilst the Classic Margarita, Espresso Martini and Passionfruit Martini cans have 14% ABV.
Wonderland Cocktails will be available from Morrisons supermarkets from 16 October for an RRP of £3.90 per can.
Pee Safe exports its products to 20 countries across five continents.
Hygiene and wellness company Pee Safe has successfully secured $3 million in funding for its ongoing Series B round, marking significant progress toward its total fundraising target of $6 million.
The funding for this round was spearheaded by Natco Pharma Limited, a prominent pharmaceutical company. Supporting their efforts were Rainmatter Health, backed by Nithin Kamath and Nikhil Kamath, the Founders of Zerodha, alongside participation from Alkemi Growth Capital, an existing investor.
In June 2021, the Gurugram-based company successfully secured approximately $3 million in its pre-Series B round. According to a press release by Pee Safe, these new funds will be deployed to support the company’s expansion efforts within India, facilitate overseas growth, and bolster marketing and awareness initiatives.
Founded in 2013 by Vikas Bagaria and Srijana Bagaria, Pee Safe has transformed itself into a prominent brand within the personal hygiene and fast-moving consumer goods (FMCG) sector. Over the last six years, the company has expanded its product portfolio to cover a wide array of personal hygiene categories, catering to the requirements of individuals from puberty through to menopause.
Vikas Bagaria & Srijana Bagaria
At present, Pee Safe is accessible through an extensive network of over 15,000 physical retail outlets spread across more than 70 cities in India. Additionally, the brand maintains a robust online presence on leading e-commerce platforms. According to the company, it also exports its products to 20 countries across five continents.
Although Pee Safe has not yet filed its FY23 results, the company asserts that it has maintained an impressive compound annual growth rate (CAGR) of 100% over the past five years.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
