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From humble kiosk to INR 100 Cr QSR success: The inspiring story of Biraja Rout and Biggies Burger

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Biraja Rout
Biraja Rout, Founder of Biggies Burger

In a world dominated by fast-food giants like McDonald’s, KFC, and Dominos, it takes a special kind of passion and courage to step into the quick-service restaurant (QSR) industry and carve out a niche of your own. Biraja Prasad Rout, a young Indian entrepreneur, did just that when he embarked on a journey to revolutionize the love for burgers in India and create a brand that would stand tall amidst global competition. This is the story of how Biraja’s love for burgers and his entrepreneurial spirit combined to give birth to “Biggies Burger”.

Love at First Bite:

Back in 2011, in the bustling city of Bangalore, Biraja Prasad Rout was a young and curious first-year college student, just 21 years old. At that age, he felt like he had experienced almost everything the world had to offer, and nothing seemed to surprise him anymore. But little did he know that a delightful surprise awaited him in the form of a mouthwatering creation called the “burger.”

For Biraja, the concept of burgers had been entirely different until his time in his hometown, Odisha. It wasn’t the usual bun-tikki wala burger that he had encountered before. This was the real deal – a masterpiece with a succulent, juicy patty, oozing melted cheese, and a burst of fresh veggies, all embraced by soft buns. This extraordinary burger left an indelible impression on Biraja, igniting a spark of passion and curiosity in him.

In an exclusive conversation with SnackFax, Biraja said, “Like Odisha there are a lot of other states where the accessibility of these global brands and products are not much and burger as a product was not established in the Indian ecosystem, it was only for the metro cities as it was the era of pizza plants like Dominos, Pizza Hut, Papa Johns.”

His experience in Bengaluru, where he encountered a typical American burger, left him amazed and wondering why he hadn’t tried it earlier.

From that moment on, Biraja’s mind was consumed by the idea of bringing this sensational burger experience to more people in India. He couldn’t shake off the thought of creating a brand that would redefine burgers and elevate them to a whole new level of taste and satisfaction.

With every bite he took, the desire to share this culinary delight grew stronger within him. The more he learned about different burger variations and global flavors, the clearer his vision became. He knew he had to offer something extraordinary, something that would stand out amidst the ordinary fast-food options available.

Little did he know that his love for burgers and his entrepreneurial spirit would intertwine to give birth to a brand that would leave a lasting impact on the fast-food industry in India. Thus, the story of “Biggies Burger” began, and it would soon capture the hearts and taste buds of people all across the nation.

The Birth of Biggies Burger:

More than a tale of inspiration or motivation, this is a love story that revolves around a person’s passion and deep affection for a dream. He shares, “Coming from a middle-class family, I aspired to achieve independence and something of my own.” Although lacking a business degree, the concept of entrepreneurship fascinated him, particularly when he observed that burgers were one of the most widely consumed single meal products worldwide.

Residing in Electronic City, Bangalore, he was well aware of the distance from the main city, but his dedication was commendable. He traveled there almost every day to study burgers and even pursued business studies on weekends, admitting, “I am neither an MBA nor do I have any business background.”

Despite his unconventional path, the allure of combining business and burgers was irresistible to him, especially during his early days in 2011. Fueled by excitement, he took a bold step and opened a small kiosk named “Biggies Burger” near his house. Initially, the journey was not smooth as people were perplexed about what he was selling, with some even asking if he was selling bread or roti in his thela (cart).

Yet, he remained undeterred because he knew that something significant was in store for him. While his initial goal was not to open a hundred outlets, he soon realized that established brands like KFC, McDonald’s, and Domino’s were dominating the Quick Serving Restaurants (QSR) sector, and there was no prominent Indian brand in the competition.

Believing in the inevitability of globalization, he adopted an inclusive and creative approach, which ultimately enabled him to stand tall in the Indian market.

Sharing his inspiring story with SnackFax, Biraja said, “Whether we have an Indian Brand or not Indians are eating Pizza. At the verge of globalization, every country has to adopt everything.”

Thus, Biraja’s love for burgers and his determination to create something unique and Indian in the QSR realm turned into a successful venture. His “Biggies Burger” would soon become a significant player in the fast-food industry, rewriting the narrative and establishing itself as a symbol of Indian ingenuity and taste.

Growing Beyond Boundaries:

“Are you looking to do the journey all on your own or are you looking forward to creating a team?” Guided by this principle in 2013, Biraja embarked on his inaugural franchise venture, a novel concept for both him and the community. Biraja’s core belief has always centered around sharing and collective growth, a sentiment that led to two of his inaugural franchisees becoming co-founders on his path.

Despite limited capital and a clear vision, Biraja remained steadfast, refusing to allow others’ skepticism to dim the blazing passion within him. He emphasized, “It’s all about the conviction that you bring through the concepts and make them convince to be a part of you.”

With this steadfast belief, he single-handedly nurtured a team from the ground up, even though substantial salaries were not feasible at the time. Up until 2019, every team member was a fresh recruit, often originating as customers who held strong faith in the concept and had the potential to evolve into professionals. Biraja invested significant time in nurturing his initial team, a practice that bore fruit and facilitated exponential growth.

“That was the way i had taken it up, it might be different from other founders but for me it was like heavy conviction on what you’re doing, confidence and transferring that energy to other people,” Biraja said.

Today, Biggies Burger stands tall as a testament to a decade of unwavering commitment to quality ingredients, signature recipes, and affordable prices. With 40 outlets spanning across India, the brand has etched its name into the hearts of burger enthusiasts all over the country. Fueling its journey of growth and success, Biggies Burger has garnered support from two esteemed investors, LetsVenture and Indian Angel Network, raising an impressive sum of INR 55 million. The most recent milestone in their journey was the successful conclusion of a Seed round of funding on September 20, 2022. This achievement marks a pivotal moment in the brand’s evolution, setting the stage for even greater accomplishments in the years to come.

Watch the full interesting conversation here:
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8 Effective Ways to Reduce Wastage Across Your Food Supply Chain

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Food supply chain

Wastage in the food supply chain is a significant issue with far-reaching implications. From farm to fork, there are various stages where food can be wasted, leading to environmental, economic, and social consequences. However, by implementing effective strategies, businesses can make a significant impact in reducing food wastage.


Reducing wastage across the food supply chain is not only an ethical imperative but also a smart business strategy. The food industry faces significant challenges in managing and minimizing wastage, from agricultural production and processing to distribution and consumption. Food wastage not only impacts the environment but also represents a loss of valuable resources and financial implications for businesses.

Reducing wastage in the food supply chain is of paramount importance as it helps minimize food waste, decrease costs, improve sustainability, and ensure efficient resource utilization. Reducing wastage in the food supply chain is of great importance for several reasons:

1. Environmental Impact: Food wastage contributes to environmental degradation. When food is wasted, all the resources that went into producing, processing, and transporting it are also wasted. This includes water, energy, and agricultural inputs. By reducing wastage, we can minimize the environmental footprint of the food industry and conserve valuable resources.

2. Food Security: With a growing global population, ensuring food security is crucial. Wastage in the food supply chain means that a significant portion of food that could have been consumed is lost. By reducing wastage, we can make more food available for consumption, thereby improving food security and reducing hunger.

3. Economic Efficiency: Food wastage represents a substantial economic loss for businesses. Wasted food translates to wasted investments in production, transportation, and storage. By minimizing wastage, businesses can improve their profitability and efficiency, leading to better economic outcomes.

4. Social Responsibility: Reducing food wastage is a socially responsible practice. It aligns with the values of sustainability, responsible consumption, and ethical business practices. It demonstrates a commitment to reducing inequalities and ensuring that food resources are distributed more equitably.

5. Ethical Considerations: Wasting food when millions of people suffer from hunger and malnutrition is ethically unacceptable. By taking steps to reduce wastage, we can contribute to a more just and equitable society where food resources are utilized effectively to meet the needs of all.

6. Reputation and Consumer Perception: Consumers are increasingly conscious of sustainability and waste reduction. Businesses that actively work to reduce wastage in their supply chains enhance their reputation and attract environmentally-conscious customers. This can lead to increased customer loyalty and support.

8 ways to minimize wastage across the food supply chain

1. Optimize Inventory Management

Implementing robust inventory management systems and practices is crucial for minimizing food wastage. Accurate forecasting, proper storage, and regular inventory audits help businesses maintain optimal stock levels, reduce overstocking, and prevent spoilage or expiration of food items.

2. Improve Supply Chain Visibility

Enhancing visibility across the supply chain enables better coordination and communication between stakeholders. Utilize technologies like tracking systems, sensors, and real-time data analytics to monitor inventory, transportation, and storage conditions. This allows for early identification of potential issues and prompt action to prevent wastage.

3. Enhance Collaboration with Suppliers

Develop strong relationships with suppliers and foster open communication. Encourage suppliers to implement sustainable practices and share information on inventory levels, quality, and shelf life. Collaborative efforts can lead to improved forecasting accuracy, reduced overordering, and better management of perishable items.

4. Implement Quality Control Measures

Ensure strict quality control at every stage of the supply chain to identify and remove damaged or substandard products. Establish clear quality standards and protocols for inspection, sorting, and grading to minimize wastage caused by low-quality or unsuitable products.

5. Optimize Packaging

Rethink packaging materials and design to minimize waste generation. Use sustainable and eco-friendly packaging options that are recyclable or biodegradable. Optimize package sizes to reduce excess material and consider innovative packaging solutions that extend the shelf life of perishable items.

6. Educate and Train Employees 

Provide comprehensive training programs to employees to raise awareness about food wastage and its impact. Train staff in proper handling, storage, and preservation techniques to minimize spoilage. Encourage employees to contribute ideas and suggestions for waste reduction initiatives.

7. Implement Donation and Redistribution Programs

Partner with local food banks, charities, or organizations that can redistribute surplus food to those in need. Implement donation programs to redirect edible food that may otherwise go to waste. Establish clear guidelines and processes for safe and efficient donation and redistribution practices.

8. Educate Consumers

Promote consumer awareness and engagement to reduce food wastage. Educate customers about proper food storage, expiration dates, and ways to minimize wastage at home. Provide recipe ideas for using leftovers or slightly blemished produce, encouraging consumers to make the most of their purchases.

Final Thoughts:

Reducing wastage across the food supply chain is a collective effort that requires commitment from all stakeholders. With right efforts and strategies, businesses can make a significant positive impact on both their operations and the environment, fostering a more efficient and sustainable food supply chain for the future.

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8 Powerful Tips to Create a Strong Brand Identity on Zomato and Swiggy

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zomato swiggy

In today’s digital age, food delivery platforms have become a popular choice for consumers seeking convenience and variety. For food businesses, these platforms provide an excellent opportunity to reach a broader customer base. However, with increased competition, it is crucial to create a strong brand identity that stands out and resonates with customers.

A strong brand identity for food delivery platforms is necessary to differentiate your business, build customer trust and loyalty, create recognition, and establish a consistent and memorable presence in the competitive market. 

It helps to communicate your unique value proposition, build an emotional connection with customers, and deliver a cohesive experience across all touchpoints. A strong brand identity sets you apart from competitors and enhances your credibility, ultimately driving customer engagement and long-term success.

Creating a strong brand identity on food delivery platforms is crucial for the success and growth of your business. Here are some key reasons why it is important:

1. Differentiation: Food delivery platforms are highly competitive, with numerous options available to consumers. A strong brand identity helps you stand out from the crowd and differentiate your business from competitors. It allows you to highlight your unique selling propositions, such as the quality of your food, the authenticity of your cuisine, or the exceptional customer service you provide.

2. Trust and Credibility: Building a strong brand identity instils trust and credibility in your target audience. When customers recognize and trust your brand, they are more likely to choose your food delivery service over others. A consistent and professional brand image creates a sense of reliability, indicating that you are a reputable business that delivers on its promises.

3. Emotional Connection: A strong brand identity helps you connect with your customers on an emotional level. By effectively communicating your brand values, story, and personality, you can evoke positive emotions and create a sense of belonging. This emotional connection fosters loyalty and encourages customers to become brand advocates, promoting your business through word-of-mouth and online reviews.

4. Brand Recognition: Establishing a strong brand identity increases brand recognition. When customers encounter your brand across different food delivery platforms, they should be able to easily identify and associate it with your unique offerings. Consistent visual branding, including a recognizable logo, colour scheme, and typography, helps build familiarity and makes your brand memorable.

5. Consistency and Coherence: A strong brand identity ensures consistency and coherence in all your brand communications. It helps you maintain a unified message and visual identity across various platforms, such as your website, social media profiles, and food delivery apps. Consistency reinforces your brand values and builds customer trust, as they know what to expect from your business regardless of the platform they interact with.

6. Competitive Advantage: A robust brand identity gives you a competitive advantage in the food delivery market. It helps you position yourself as a preferred choice for customers who resonate with your brand values, aesthetics, and overall experience. By crafting a distinct and memorable brand identity, you can attract and retain customers, even in the face of fierce competition.

Tips to establish compelling brand identity on Zomato & Swiggy

1. Define Your Brand Personality

Identify the unique aspects of your food business that set it apart from others. Determine the brand personality you want to convey to customers. Are you modern and innovative, traditional and authentic, or health-conscious and sustainable? Define your brand’s core values and use them as a guide when developing your brand identity.

2. Craft a Memorable Brand Name and Logo

Choose a brand name that is catchy, easy to remember, and reflective of your offerings. Design a visually appealing logo that represents your brand’s identity and resonates with your target audience. Ensure that your brand name and logo are consistent across all platforms, creating a cohesive and recognizable brand presence.

3. Develop a Compelling Brand Story 

Tell a compelling story about your food business’s origin, values, and mission. Highlight what makes your brand unique and share engaging anecdotes that evoke an emotional connection with customers. A well-crafted brand story helps differentiate your business and builds trust and loyalty among consumers.

4. Create Consistent Visual Branding

Consistency in visual branding is crucial for building brand recognition. Choose a colour palette, typography, and design elements that align with your brand personality and use them consistently across your food delivery platform profiles, website, packaging, and marketing materials. Consistent visual branding enhances brand recall and helps customers associate your brand with quality and reliability.

5. Develop a Unique Tone of Voice

Craft a distinctive tone of voice that aligns with your brand personality. Whether it’s friendly and conversational, professional and authoritative, or playful and humorous, ensure that your tone of voice reflects your brand’s identity. Use this tone consistently in your written content, such as website descriptions, menu items, social media posts, and customer interactions.

6. Showcase High-Quality Food Photography

Invest in professional food photography to showcase the quality and appeal of your dishes. High-quality, appetizing food images can entice customers and build trust in your brand. Use visually appealing images consistently across your food delivery platform profiles, website, and social media channels to create a mouth-watering brand experience.

7. Engage and Respond to Customer Feedback

Actively engage with customers on food delivery platforms by responding to reviews and comments promptly and professionally. Show genuine appreciation for positive feedback and address any negative feedback or concerns courteously and helpfully. This engagement demonstrates your commitment to customer satisfaction and builds a positive brand image.

8. Offer Unique and Personalized Experiences

Differentiate your brand by offering unique and personalized experiences to your customers. Consider adding special touches like personalized notes, customized packaging, or surprise gifts to enhance the overall customer experience. These small gestures create a positive impression and foster customer loyalty.

Final Thoughts:

Creating a strong brand identity on food delivery platforms is crucial for success in the highly competitive market. By building a strong brand identity, you can differentiate yourself, build trust, and ultimately drive growth and success. A strong brand identity not only attracts customers but also fosters loyalty and sets the foundation for long-term success in the food delivery industry.

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Spreading flavors and smiles: How North Indian Bhukkads redefined authenticity in North Indian cuisine

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Vaibhav Shrivastava

In a world where culinary experiences have become the epitome of cultural exploration, one brand stands out for its commitment to authentic flavors and unwavering passion for food. North Indian Bhukkads, lovingly known as NIB, has carved a niche for itself in the food industry with its delectable array of North Indian and regional specialty dishes. Let’s take a closer look at the story behind this gastronomic venture.

The Roots of NIB – Founders with a Culinary Dream

At the heart of NIB lies the vision of its Founder, Vaibhav Shrivastava, a dynamic entrepreneur hailing from Bilaspur, Chhattisgarh. From a young age, Vaibhav was captivated by the idea of starting his own business. After completing his education in Indore and Pune, he ventured into the world of entrepreneurship with an e-commerce food store, selling delicacies from across India.

However, it was not until he shifted to Bangalore in 2015 that he fully embraced the world of food and beverages. A childhood dream finally found its wings as he embarked on the journey to establish North Indian Bhukkads.

When asked about the inspiration behind NIB, Vaibhav’s eyes light up with enthusiasm. He reveals, “I may not be a foodie, but I understand what makes good food and what people enjoy. My dream was to create a food brand that delivers authentic North Indian cuisine, connecting people through the joy of flavors.”

The desire to share the rich heritage of North Indian food with the world ignited the spark that led to the birth of NIB.

Tapping into a Diverse Market:

NIB set out with a simple yet compelling mission – to serve and deliver high-quality North Indian and regional specialty food to all. From the spice-rich gravies of Punjab to the aromatic biryanis of Hyderabad, NIB’s menu is a delightful journey through the diverse flavors of India.

With its diverse menu and broad appeal, NIB caters to a wide audience. “Our offerings have something for everyone, from locals craving familiar tastes to immigrants yearning for the flavors of their hometowns,” explains Vaibhav. This approach has enabled NIB to establish a loyal customer base that spans the city’s demographics.

What sets NIB apart is its unwavering commitment to authenticity. The team meticulously sources ingredients and follows traditional recipes to ensure every dish captures the essence of its regional roots. This dedication to genuine flavors has won the hearts of food enthusiasts, making NIB a beloved culinary destination.

Evolving to Greatness:

Since its modest beginnings in 2016, NIB has witnessed tremendous growth. Starting with a tiny 300-square-foot outlet, NIB has now expanded into a fully-fledged restaurant with 70 seating capacity and operates a successful cloud kitchen. The brand has achieved an impressive monthly sales figure of 20 lakhs, a testament to its popularity and quality.

While NIB has risen to great heights, its journey was not without challenges. Vaibhav shares, “Manpower and maintaining food consistency were the primary hurdles we faced. However, we tackled them through rigorous training and hiring processes, ensuring our vision remains untainted.”

Navigating the Storm of Covid-19:

The Covid-19 pandemic presented an unprecedented challenge for the entire hospitality industry. NIB, however, displayed remarkable resilience. The team kept the restaurant running, offering takeaway and delivery services throughout the lockdown. Despite facing initial setbacks, NIB adapted to the new normal and has emerged stronger.

A Vision Beyond Borders:

NIB’s aspirations extend far beyond the city limits. Vaibhav reveals, “Our vision is to establish NIB as an internationally recognized brand, offering the finest Indian cuisine to people worldwide.” The brand is exploring the cloud kitchen model for rapid expansion and is already in the trial phase of launching a QSR brand named ‘Be Bhukkad.’

Vaibhav’s entrepreneurial journey is a testament to his determination and passion for creating something extraordinary. “Entrepreneurship is a lonely path,” he reflects, “but it allows you to build and create something unique, something that leaves a lasting impact.”

North Indian Bhukkads (NIB) is not just a culinary delight; it’s a celebration of flavors, heritage, and the indomitable spirit of entrepreneurship. As NIB continues to conquer palates and hearts, it remains an inspiration for anyone with a dream and a drive to transform it into reality. The journey of NIB from a modest food outlet to a thriving restaurant and cloud kitchen exemplifies the power of passion, authenticity, and resilience in the food business.

NIB’s commitment to delivering authentic North Indian cuisine has won the loyalty of its diverse customer base. By staying true to its roots and maintaining a focus on quality, NIB has successfully navigated the challenges posed by the pandemic and emerged stronger. The vision of NIB’s founder, Vaibhav Shrivastava, to take the brand beyond borders and make it an internationally recognized name is a testament to his entrepreneurial vision and ambition.

In a world where culinary experiences have become a vital part of cultural exploration, NIB has become a symbol of the rich and diverse culinary heritage of India’s North. As it strives to make its mark on the global stage, NIB continues to inspire food lovers and entrepreneurs alike, encouraging them to pursue their dreams and create a lasting impact on the world. The journey of North Indian Bhukkads is a story of passion, authenticity, and the pursuit of culinary excellence.

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Hungry Hawk opens in Hyderabad, offering a global culinary extravaganza!

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Hungry Hawk

Hungry Hawk, the newest dining destination in Hyderabad, has finally opened its doors, promising an unmatched culinary experience with a selection of global cuisine. Positioned in a prime location, it has quickly become the go-to spot for foodies in search of an exceptional dining adventure.

With a diverse array of dishes from Asia, Mughlai, and beyond, Hungry Hawk offers a world of flavors to satisfy every palate. From the savory delights of Japanese Teppanyaki and the aromatic spices of Indian cuisine to the comforting tastes of classic Italian pasta and the indulgent Thai curries, the restaurant ensures a gastronomic journey like no other.

As food enthusiasts step into this multi-cuisine haven, they are greeted with a menu that boasts a tantalizing selection of culinary delights from different corners of the globe. Hungry Hawk aims to be a place where flavors blend seamlessly, creating an unforgettable dining experience for all who walk through its doors.

Speaking on the launch, P V Suresh Kumar, Managing Partner, Hungry Hawk, said, “At Hungry Hawk, we set out to design a place that combines two of our personal passions: fine dining and gaming entertainment. Our aim is to offer a singular experience where visitors may savour exquisite cuisine from all around the world while immersing themselves in the excitement of gaming. We are eager to welcome both foodies and gamers. We are committed to using only the finest and freshest ingredients to create our culinary masterpieces. Our talented chefs employ their expertise to craft each dish with passion and precision, ensuring an unforgettable dining experience.”

Adding more to it Sanjeev Dhawan, Managing Partner, Hungry Hawk, said, “Our team of talented Chefs have designed some amazing set menu’s to craft each dish with passion and precision. In order to satisfy the varied palates of our customers, we have taken great care in curating a range of dishes that combine creative flavours by special preparation methods and artistic presentation.

Jude Pereira, Executive Chef, Hungry Hawk, added, “I am pleased to present the Hungry Hawk menu. Each dish has been thoughtfully crafted to showcase the finest flavours and ingredients as the apex of my enthusiasm for culinary creation, promising an unparalleled culinary experience that blends the best of Teppanyaki, Mughlai, and Asian flavours under one roof.”

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Guwahati’s street food culture gets official recognition with ‘Khao Gali’

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street food
Street food (Representative Image)

The Guwahati Municipal Corporation (GMC) has taken a proactive step to resolve the long-standing conflict between law enforcement agencies and street vendors by introducing two designated “Khao Gali” street food vending zones in the city. These zones aim to provide a harmonious space for street vendors to operate without any legal hurdles, creating a win-win situation for both parties involved.

The road connecting Panbazar to Guwahati railway station and the bustling area in front of Dighalipukhuri, already renowned as a food hub, will now be officially designated as “Khao Gali” – a dedicated zone for street food vendors.

GMC mayor Mrigen Sarania said, “The GMC has decided to designate the Cotton University hostel road and the space in front of Dighalipukhuri as ‘Khao Gali’, street-food vending zones within one to two months. We have taken the decision in order to end the clashes between the law enforcement agencies and the street vendors. The designated vending zones will give their business legitimacy.”

Additionally, the mayor expressed optimism that the establishment of these food zones will attract a wave of young entrepreneurs, encouraging them to embrace street food vending as a viable means of livelihood. This, in turn, is expected to contribute to a reduction in the unemployment rate in the city.

Food stall owners in the Dighalipukhuri area have voiced their grievances, stating that they frequently face threats of eviction from GMC officials.

Ibraj Chetry, owner of a food stall in the area and also an ex-employee of techno giant WIPRO, said, “If the GMC demarcates this place as a vending zone, it will be beneficial for us. Otherwise, we live in fear that we will be evicted any day. They frequently threaten us to vacate, accusing us of littering the place, though we try our best to clean up the stretch every night before closing our stalls.”

Previously, in the city, the Ariz Path area, which connected Guwahati Club to the Barowari area, was designated as a street food vending zone. However, this initiative was later discontinued due to the traffic congestion caused by the presence of food stalls in the area.

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After tomato, onion prices experience uptick due to lower sowing

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Onion prices have surged by nearly 10% in the last month, primarily attributed to reduced kharif sowing in key producer states such as Maharashtra and Karnataka. However, an official has assured that the government maintains sufficient buffer stock to manage the price escalation effectively.

As of August 3, the wholesale consumer price of onions in All India stood at INR 2,068.51 per quintal, showing an increase from INR 1,893.56 recorded on July 3. According to data from the consumer affairs ministry, the price has experienced a year-on-year rise of 4.86%.

“Onion prices are expected to firm up as lower output is expected from the kharif crops since monsoon rains have not been adequate in Nasik, Pune and Ahemdnagar districts,” said Nikhil Sule, an onion farmer from the area.

According to a Crisil report, the area dedicated to onion farming had decreased during the last rabi season. The report estimated that the acreage was 3-5% lower than the previous year, leading to an approximate 6% decline in output compared to the previous year.

The rating agency attributed the decline in rabi acreage to the “25-27% lower realization experienced by farmers in the preceding season.”

Nevertheless, a senior official from the Ministry of Consumer Affairs, Food and Public Distribution stated that the central government has acquired a buffer stock of 300,000 tonnes this year, marking a 20% increase compared to the previous year.

“This stock will come in handy for interventions when the prices go up,” the official said.

The individual attributed the modest price upswing in recent weeks to the approaching festive season and assured that the retail prices of onions will not exceed INR 40 per kg this year.

During the fiscal year 2022-23, the government maintained a buffer stock of 251,000 tonnes of onions.

The buffer stock is maintained under the Price Stabilisation Fund (PSF) to meet any exigencies in case rates go up significantly during the lean supply season.

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Britannia Industries reports strong Q1 FY24 performance, net profit surges 35.65% to INR 455.45 Crore

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Britannia
Britannia (Representative Image)

In the first quarter of FY24, Britannia Industries recorded a consolidated net profit of INR 455.45 crore, marking a notable 35.65 percent surge compared to the INR 335.74 crore earned during the same period in June 2022.

The fast-moving consumer goods (FMCG) giant registered total revenues from operations amounting to INR 4,010.70 crore in the latest quarter, showcasing an impressive 8.36 percent growth year-on-year, in contrast to INR 3,700.96 crore recorded during the corresponding quarter of the previous year.

While Britannia’s revenue aligned closely with market expectations, its net profit fell short of the anticipated mark. Brokerages surveyed had projected revenue to be approximately INR 4,101 crore and net profit to be around INR 517 crore for the company.

In the June quarter, Britannia’s EBITDA witnessed a remarkable 37 percent year-on-year growth, rising to INR 689 crore from INR 501 crore in the corresponding period last year. Furthermore, the company’s EBITDA margins expanded significantly, showing an increase of 364 basis points to reach 17.2 percent during the reviewed quarter.

After the markets closed, the packaged food company released its earnings report. Earlier on the same day, the stock had a slight gain, closing 0.08 percent higher at INR 4,802.55 on the National Stock Exchange.

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Monster Beverage expands energy drink portfolio with Bang Energy acquisition

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Bang energy drink
Bang energy drink (Representative Image)

Monster Beverage Corporation made an official announcement stating that its subsidiary, Blast Asset Acquisition LLC, has successfully finalized the acquisition of Vital Pharmaceuticals, the owner of Bang Energy.

As part of the acquisition, Monster Beverage Corporation has obtained the assets of Bang Energy beverages and a beverage production facility located in Phoenix, Arizona. The purchase price for this acquisition was approximately $362 million, with potential adjustments taken into account.

In July, Monster Beverage Corporation and Vital Pharmaceuticals (VPX Sports) came to an agreement for an asset purchase. As part of this deal, a Monster subsidiary was set to acquire all the assets of Bang Energy. Subsequently, Monster successfully obtained approval from the US bankruptcy court to proceed with the acquisition of VPX Sports under Chapter 11, as previously reported.

Rodney C Sacks, chairman and co-chief executive officer of Monster Beverage Corporation, said, “We are enthusiastic about the opportunities this acquisition presents to us and believe that the Bang brand will fit well within our broader portfolio of energy drink brands”.

Hilton H Scholsberg, vice chairman and co-chief executive officer, added that Bang Energy has a “distinct marketing position and loyal consumer base”, and that production will be increasing at the Phoenix facility to accommodate certain of the company’s other brands.

“We are excited for the opportunities for all of our brands,” Schlosberg concluded.

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India’s export ban spells trouble for non-basmati rice exporters, while basmati rice exporters set to flourish, reveals Ind-Ra report

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According to India Ratings and Research (Ind-Ra), the recent government notification that prohibits the export of non-basmati white rice is anticipated to enhance the operational performance and bolster the credit profile of India’s leading basmati rice exporters.

On July 20, India implemented a ban on the export of non-basmati white rice in an effort to regulate the escalating prices of this essential food commodity in the domestic market. Industry experts point out that the delayed monsoon arrival and inadequate rainfall until mid-June have caused significant worries regarding paddy output in the country.

Read More: India prohibits non-basmati white rice exports amidst supply concerns

India holds the title of being the largest rice exporter globally, commanding approximately 40% of the total market share. Following closely behind are Thailand with a 13% share and Vietnam with a 9% share, among other contenders.

During the financial year 2023, India successfully exported 14.24 million tonnes of non-basmati rice.

The export ban captured international attention, making headlines in several developed nations and leading to panic buying in various countries such as the US, Canada, and Australia.

Read More: India’s rice export ban triggers panic buying among NRIs in the US

Ind-Ra reports that countries importing basmati rice are expressing worries about a potential ban on this category. Consequently, they are requesting early shipments, leading to the possibility of higher prices in the short and medium term. The report also highlights that numerous farmers have shifted their focus to producing basmati rice to capitalize on the notable price disparity in export markets.

Since FY21, the leading four basmati rice exporters have witnessed a remarkable increase in demand and profits. The ban on non-basmati rice might prompt importing countries to switch to the basmati category, albeit on a limited scale, driven by the substantial price difference and lower production and supply of non-basmati rice. This shift could potentially lead to higher inflation in the importing nations.

Over the past decade, India’s rice production has displayed a compound annual growth rate (CAGR) of 2.6%, whereas consumption has grown at a rate of 1.3%. The decision to prohibit non-basmati rice exports is likely influenced by the repercussions of adverse climatic changes on food grain production over the years, as well as the recent surge in prices in the domestic market.

According to the most recent report from Ind-Ra, major Indian rice exporters are predominantly focused on dealing with basmati rice. The rising demand and favorable pricing in this category have had a positive impact on their operational performance during FY23.

“Revenues for the four major basmati exporting companies have grown at a median rate of 28% year-on-year. The export ban on non-basmati rice may further benefit these companies by improving liquidity due to early shipments requested by importing countries, fearing a ban on basmati rice. Additionally, the elevated price of basmati in export markets and the shift in demand from non-basmati to basmati rice could lead to increased volumes, revenues and profitability in the medium term for basmati rice exporters,” says the Ind-Ra report.

Non-basmati rice constitutes 80% of India’s rice exports, and the ban on its export is anticipated to bring substantial implications to the consumption patterns in rice-importing nations. Both basmati and non-basmati rice prices have been on the rise since FY22 due to major global suppliers like Thailand and China reducing their exports post-pandemic to prioritize domestic food security.

“The realisation of basmati rice price jumped to 84 a kg in FY23 from 64 a kg in FY21 and reached 91 a kg during April-May 2023,” the report adds.

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