Dairy product provider Vaastu Ghee posted an impressive 84% rise in revenue in FY23, reaching Rs 100.23 crore from Rs 54.37 crore in FY22.
Founded in 2015 by Bhupat Sukhadiya, Vaastu Ghee offers a variety of Desi Ghee products and claims to have built an extensive distribution network with over 2,200 distributors and 200,000 retailers across India.
The Surat-based company has expanded rapidly over the years. While its valuation remains undisclosed, the ghee product provider raised Rs 2 crore in funding through an angel round in November 2023, led by investor Ankit Agrawal.
Competing with Patanjali Ayurved and Mother Dairy, Vaastu Ghee’s majority stake is held by Bhupatbhai Naranbhai Sukhadiya, who owns over 50% of the company. Jagruti Bhupatbhai Sukhadia and Arth Bhupatbhai Sukhadia also hold significant shares, each with over 10%.
In line with its revenue rise, the company’s expenses rose to Rs 96.57 crore in FY23 from Rs 50 crore in FY22. The cost of materials contributed to over 50% of these expenses, followed by employee benefits and depreciation.
Vaastu ghee recorded a massive jump in profits, from over Rs 70 lakh in FY22 to Rs 2.55 crore in FY23.
With this financial upturn, the company’s current EBITDA margin and ROCE also climbed to 5.21% and 49.38% respectively.