Mother Sparsh plans baby wipes facility in Hyderabad
HYDERABAD: Two-year-old startup Mother Sparsh, a manufacturer of baby wipes and other baby-care products, is looking to set up a manufacturing facility in Hyderabad, founder Rishu Gandhi said.
“We have decided to set up a unit in South India, where the response to our biodegradable baby wipes has been quite encouraging,” Gandhi said, adding that the company would initially prefer to have a shared manufacturing facility if possible for which talks were ongoing.
Its current manufacturing unit is in Ludhiana, Punjab. The startup reported revenue of Rs 2 crore last fiscal year with South India accounting for more than a third of it.
“Going by the encouraging response to samples of our enriched range of baby wipes, we are hoping to more than double the sales to around Rs 5-6 crore during this fiscal,” said Gandhi.
The proposed facility in Hyderabad is likely to involve an investment of around Rs 2 crore and is expected to take off during the first half of next year.
The company is also working on plans to enter the kids’ nutrition segment. It is likely to be launch sometime early next year, and the manufacturing facility may involve an investment Rs 3-4 crore, Gandhi said.
Once internal resources are exhausted, by the first half of next year after setting up the facility for kids’ nutrition, the startup will explore options to raise funds by offering minority stakes, she said. “Some investors had approached us earlier but we preferred to wait for improving sales and facilities towards getting better valuations.”
“We have decided to set up a unit in South India, where the response to our biodegradable baby wipes has been quite encouraging,” Gandhi said, adding that the company would initially prefer to have a shared manufacturing facility if possible for which talks were ongoing.
Its current manufacturing unit is in Ludhiana, Punjab. The startup reported revenue of Rs 2 crore last fiscal year with South India accounting for more than a third of it.
“Going by the encouraging response to samples of our enriched range of baby wipes, we are hoping to more than double the sales to around Rs 5-6 crore during this fiscal,” said Gandhi.
The proposed facility in Hyderabad is likely to involve an investment of around Rs 2 crore and is expected to take off during the first half of next year.
The company is also working on plans to enter the kids’ nutrition segment. It is likely to be launch sometime early next year, and the manufacturing facility may involve an investment Rs 3-4 crore, Gandhi said.
Once internal resources are exhausted, by the first half of next year after setting up the facility for kids’ nutrition, the startup will explore options to raise funds by offering minority stakes, she said. “Some investors had approached us earlier but we preferred to wait for improving sales and facilities towards getting better valuations.”