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iD Fresh Food eyeing developed markets with Squeeze & Fry Vada Batter
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Thursday, 26 July, 2018, 08 : 00 AM [IST]
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Nandita Vijay, Bengaluru
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iD Fresh Food, renowned for its idli and dosa batters and parotas, is looking to foray into developed markets with its Squeeze and Fry Vada Batter, which has marked its entry into the ready-to-cook (RTC) category.
“In India, the demand for RTC food products has been increasing over the last few years due to the busier lifestyles and rising income levels of consumers. Knowledge of cooking and the paucity of time has led to the ready acceptance of quick and convenient options for labour-intensive chores like cooking,” said P C Mustafa, chief executive officer, iD Fresh Food.
He added, “iD caters to the RTC segment. The response has been enthralling. People across the globe have seen the video, appreciated the product and sought interest. The company arrived at the nozzle design after many trials.”
“The consumers who have tried the product have given us some great feedback on the process of making vada, which is so simple, and the end product as well. The products are available in the United Arab Emirates (UAE) as of now. We're looking at newer geographies like the United States in the future,” Mustafa told F&B News.
“The pride of cooking will soon become passe and will not resonate with the younger generation. Cooking is getting to be looked upon as a chore for working individuals, and they're looking for more RTC and ready-to-eat (RTE) options,” he added.
This innovation is patented. So vada making is a science now, and not an art anymore. “We at iD understand a customer’s problem, use common sense to solve it and make it an aha moment for them. That is the best way to stay ahead of the competition. iD Squeeze and Fry Vada Batter is a packaging marvel. It stores the batter and helps shape vadas with great ease. One of a kind in the food category,” Mustafa said.
The company has identified that batters are the core of revenue generation. “Batters contribute to about 35 per cent of our business, while chapatis contribute to about 13 per cent. It is our batter and parota range that are contributing the most,” Mustafa said.
Commenting on Goods and Services Tax (GST), he added, “GST hasn’t affected our business. Since we’re a food manufacturing company and most of our products are staple food items, there has been no direct impact.”
The current turnover of iD Fresh is about Rs 186 crore, and the company is looking at generating Rs 260 crore this year. However, the company, which has raised funds to take of the business, is not expected to raise more capital any time soon. The products in the pipeline are variants of batter and filter coffee decoction,” Mustafa said.
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