Edible oil brand Gulab Oils eyes Rs 5,000 crore turnover in four years

Plans to enter ten states from four currently, expand capacity 10-fold to 1,000 tonnes a day and make additions to product portfolio

Having doubled its turnover in three years to Rs 2,100 crore in FY22, Gujarat's emerging cooking medium brand Gulab Oils is now eyeing a turnover Rs 5,000 crore over the next 3-4 years on the back of its pan-India presence and capacity expansion.

"We more than doubled our turnover on the back of healthy growth in the edible oil business during the past three years. Now that we are expanding our presence from four states to 10 on the back of capacity and product portfolio expansion, we hope to touch Rs 5,000 crore in next 3-4 years," Dishit Nathwani, director of Gulab Oil and Foods Pvt. Ltd.

Started in 1966 with a single mill in Mangrol, the Gujarat-based edible oil company is now looking to become an oil-cum-food company, similar to Adani Wilmar.

As a part of the expansion plan, Gulab Oils recently introduced a fresh new look for its entire range of edible oils. The new look is expected to cater wider consumer groups across the nation.

"The company is already present in the states of Gujarat, Maharashtra, Madhya Pradesh and Rajasthan, and aims to expand in 10 states in near future. To support this growing demand, we have a state-of-the-art production unit which is under construction and will be operational by mid-2023. This would lead to a huge increase in daily overall production capacity of edible oils from 100 tonnes to 1,000 tonnes," said Mukesh Nathwani, CMD, Gulab Oil and Foods Pvt Ltd.

From operating in just groundnut oil, the company has gone on to add cottonseed, sesame, mustard and coconut oil. Apart from giving its flagship edible oil brand Gulab a new look, the company has also revamped its food snacks brand Rewynd apart from launching a premium vertical called Gulab Goodness that offers organic products like cold-pressed oils, raw honey and pink salt, among other things.

According to Dishit, the company has also launched an organic staples brand called 'True Story' that will offer rice, sugar, flour, cereals and pulses, among other things which the company will gradually expand to metros like Mumbai and Delhi.

While the company is funding its capacity expansion of Rs 100 crore through internal accruals, going forward, the company is open to raise funds through an initial public offering (IPO), said Dishit.

Meanwhile, in order to cater online buyers, the company has also launched its own e-commerce platform 'shopgulab.com' that will deliver all products pan-India.