Milk Mantra is Purchased by Hatsun Agro for INR 233 Cr
For INR 233 Cr, or around $26 million, Chennai-based Hatsun Agro purchased Milk Mantra in order to increase its presence in the dairy industry. The board of the company has "approved the acquisition of 100% of the issued and paid-up share capital of the Milk Mantra Dairy Private Limited," according to a BSE filing from HAP. According to the filing, Milk Mantra, situated in Bhubaneswar, will become a fully owned subsidiary of HAP upon the acquisition. HAP hopes to increase its presence in Odisha and the eastern dairy sector with this agreement. According to the document, it also wants to investigate its current market in north Andhra Pradesh as well as possible markets in West Bengal and nearby states. Following the acquisition, Milky Moo will be a new brand in addition to HAP's current ones, Arun, IBACO, Hatsun, and Arokya.
About Milk Mantra
Milk Mantra was established in 2009 by Srikumar and Rashima Misra, and it started operations in 2012. Moo Shake and Milky Moo are the two brands that the firm offers its goods under. It offers flavoured milkshakes, lassi, paneer, curd, bottled milk, and mishti dahi. Due to its ability to keep costs under control, the company generated a profit in the fiscal year 2023–2024 (FY24), generating INR 9.8 Cr as opposed to INR 12.3 Cr in the previous fiscal year.
Indian Dairytech Startups Performance in 2024
In recent years, dairytech innovators have done everything they can to transform the Indian dairy industry, from utilising IoT (Internet of Things) devices to utilising AI and ML. Today's farmers are therefore more equipped to keep an eye on the health of their cattle, which results in increased milk quality, better dairy products, and larger yields.
Additionally, Indian dairytech entrepreneurs are tackling long-standing problems that plague the industry. Poor disease control, inadequate animal healthcare, and low-quality feed are some of the main issues.
New-age hyperlocal delivery services like MilkBasket, DailyNinja, and Supr Daily (now InsanelyGood), to mention a few, have revolutionised the Indian dairy startup scene by displacing established brands like Mother Dairy and Amul through retail channels. Later, businesses like Country Delight, Milk Mantra, and others arose to solve issues with timely delivery and quality.
Nevertheless, a number of issues still need to be addressed in spite of the boom of businesses in this field. One of the biggest problems is getting milk from different dairy farms. This has a direct effect on milk quality. Indian companies have responded to this by establishing their own farms and implementing a direct-to-consumer (D2C) business model. Barosi, Happy Milk, Doozy Happy Nature, The Milk India Company, and The Good Cow Company are a few of these names.
Nitin Konde
