Cycle Pure Agarbathies To Increase Capacity

14 August, Hyderabad

The 1000 crore turnover Cycle Pure Agarbathies manufactured by the Mysore-based NR Ranga Rao and sons, is planning to expand its manufacturing capacity to 1600 crore agarbathi sticks in a year against the current capacity of 900 crore sticks.

Talking to newspersons here today, Cycle Pure Agarbathies Managing Director Arjun Ranga said as part of scaling-up strategy, the company planned to double its market penetration across Andhra Pradesh and Telangana region in the next 2-3 years.

We are planning to achieve 25 per cent growth in 2015-16, Mr Ranga said, adding, that it is also aiming to expand its export to 100 countries in the next three years against currently exporting to 65 countries.

The company has also signed Big-B and mega-star Amitabh Bachchan as the brand ambassador. The association will witness the Bollywood -con endorsing the new brand positioning Prarthana ki Shuddhata across a multitude of platforms, he said.

The closely-held, family-run company, having 20 manufacturing locations across India, plans to double the number of its outlets to 20 lakh in the next three years in what is its aggressive northward push after becoming the top agarbathi seller in southern states and Maharashtra, the MD said.

The domestic organised incense sticks market is around Rs 2,000 crore (including exports worth Rs 500 crore), with an evenly-sized unorganised market, as well. Cycle Pure, with a 20 per cent share in the organised market, is the worlds largest incense stick manufacturer”. With the Bachchan campaign, it hopes to double its current market share, he reasoned.

It produces in-house around 500 fragrances and producing 900-crore agrbathi sticks in a year, he added.