What we do Manufacturer and trader of over 32 types of spices and grocery products under brands DOUBLE HATHI and MAHARAJA, with focus on quality and market diversification. |
Founded in 1,982 |
Market share Growing presence in Indian spice market with strong brand recognition and expanding rural market footprint. |
Problem solved Providing consistent, quality spices and grocery products catering to consumer taste and convenience needs across India. |
Top clients or who we serve B2B and B2C customers including retail consumers and bulk buyers in food and agriculture sectors. |
Key management Mr. Rishit Kotecha (Chairman cum Managing Director, prominent leadership) |
Our journey and innovations Started as partnership in 1982, became public listed company in 2023, expanded with cold storage and launched rural-focused MAHARAJA brand. |
Where we operate Primarily India with manufacturing in Jamnagar and trading nationwide, expanding rural penetration. |
Top products or what we offer Whole and ground spices, tea, and grocery staples like asafoetida under DOUBLE HATHI and MAHARAJA brands. |
Top brands DOUBLE HATHI: flagship quality spice brand; MAHARAJA: rural market spices; known for diverse spice blends. |
Raw materials needed Raw spices and agricultural commodities sourced for manufacturing various blends and grocery products. |
Raw materials supplier Local farmers and spice traders within India; details confidential. |
Recurring vs cyclical contribution Revenue mix includes recurring branded product sales with cyclical trading of unbranded whole spices. |
Our industry position Emerging player with improving financials and expanding market share in Indian spice manufacturing and trading. |
Financial highlights FY 2024-25 revenue ₹230.92 crore; PAT ₹15.02 crore; EBITDA growth 32.8% year-on-year; robust profitability. |
Geographical revenue split Majority revenue from Indian domestic market; rural markets growing rapidly via MAHARAJA brand. |
Order book - |
Whats driving growth Brand expansion, rural market penetration, product diversification, and enhanced manufacturing capacity. |
Our future plans Capex for factory expansion, increasing cold storage capacity, product innovation, and broader distribution reach. |
Our green promise Focus on sustainable sourcing and minimal environmental impact; details limited. |
Our people and values Committed to ethical work environment and employee motivation with ESOP scheme to retain key talent. |
Key challenges ahead Competition in spice market, sourcing price volatility, regulatory compliance, and expanding rural distribution. |
Interesting facts First publicly listed spice company from Gujarat with a large cold storage capacity for multi-commodity agri-products. |
Risks and strategy Mitigates supply chain risks via local sourcing; focuses on quality and brand differentiation to compete. |
