Vahdam India FY21 revenue jumps over twofold to Rs 159 cr

Premium tea company Vahdam India on Wednesday reported over twofold jump in its revenue for 2020-21 to Rs 159 crore, on rising demand for its health and wellness products during the COVID-19 pandemic.

The company had posted a revenue of Rs 75 crore in the previous year.

Vahdam India, which sells premium tea in domestic and overseas markets through digital platforms, has become profitable.

The company in a statement said it has ''witnessed strong growth and ended 2020-21 with a delivered net revenue of Rs 159 crore, up from 75 crores in 2019-20, registering a 110 per cent year-on-year growth''.

The brand also achieved net profitability in FY21, it added.

Vahdam India gets majority of its revenue from the US market.

The company aims to grow 3x over the next 3 years to deliver Rs 500 crore of revenue by 2023-24.

It has set up a new state-of-the-art 1 lakh sq ft factory in the national capital region to support its growth over the next few years.

Vahdam India founder and CEO Bala Sarda said, ''The pandemic has accelerated our growth, given the shift towards high quality and trusted wellness products, larger adoption of e-commerce globally and a more effective execution capability with a strong leadership team in place.'' The company will focus on expanding its presence in current key markets the US, Canada, the UK and Germany, he said.

Vahdam will grow its omni-channel distribution and strengthen its presence in new markets like India, besides diversifying into other relevant product categories.