Representational Image  |  Photo Credit: BCCL
ID Fresh Food sold 35 crore idlis, 10 crore parottas and 2 crore cups of coffee in 2020, as its e-commerce channel boomed, even as it had to go slow in expanding overseas in the aftermath of Covid-19. Speaking to ET NOW, ID Fresh founder and CEO PC Musthafa also said that it is now setting up the world’s largest idli batter factory in Bengaluru.
“FY21 was pretty good for us. We clocked a revenue run rate of 450 crores by March. We are looking at 330 crores in revenue in FY21. We sold 35 crore idlis, 10 crore parottas, 4.3 crore chapatis and 2 crore cups of coffees in the last 1 year. We also had plans to penetrate Delhi, Kolkata, Ahmedabad- we had to go a bit slow in those markets due to Covid. Ecomm revenue has tripled from March to December. For the first time in the history of ID, parottas will overtake idli batter revenue. We expanded into the Muscat market in Oman and have plans for Saudi and Qatar. ID coffee decoction is available in US and Europe,” Musthafa said.
ID Fresh, founded in 2005 by PC Musthafa and his 4 cousins counts Helion venture partners and Premji Invest as investors and is rumoured to be in the market for more funds. “We are yet to finalise the plan. We are at the early stage of looking at fundraising. We will probably finalise the plan by March. We are making a profit, cash flow is not an issue at this stage. We are also setting up the world’s largest idli factory in Bengaluru, which will be live at the end of this month,” Musthafa said.
ID makes tens of thousands of idli/dosa batter every day and has expanded into categories such as vada batter, filter coffee decoction, paneer and curd.
In terms of the categories it is betting on going ahead, it plans to relaunch tender coconut water, double down on dairy and introduce three coffee blends.
Indians love their Idli-coffee and Malabar Parotta!
ID FRESH IN 2020
35 crore idlis
10 crore parotas
4.3 crore chapathis
2 crore cups of coffee
Revenue of 330 crore in FY21