Brands
“At Cycle, we are committed to the well-being of all beings”: Cycle Pure Agarbathi MD Arjun Ranga
Mumbai: Spirituality is a deeply personal and often subjective experience that encompasses a wide range of beliefs and practices related to the search for meaning, purpose, and connection to a higher power or divine presence. For many people, spirituality is an essential aspect of their daily lives, providing a source of guidance, comfort, and support in times of joy and sorrow.
Incense sticks, also known as Agarbathi, have been an integral part of spiritual and religious practices in many cultures for centuries. The fragrances used in incense sticks are believed to have a profound impact on the human mind and emotions, and are used to create a calming and meditative atmosphere during prayer, meditation and other spiritual practices. Each fragrance has a specific meaning and is believed to have the power to evoke different emotions and enhance different aspects of spirituality. In this context, the use of incense sticks is not only a sensory experience but also a way to enhance and deepen one’s spiritual connection.
The Agarbathi industry in India has a rich history, and Cycle Pure Agarbathi is a prominent player in this industry. Founded in 1948 by N. Ranga Rao, the company has captured the Indian household with its scents and is now a well-known brand in 75 countries, with plans to expand to 15 more countries this year. With an in-house manufacturing unit, Cycle Pure Agarbathi has developed over 600 fragrances to date, connecting devotees with the divine and spreading the captivating aroma of “desh ki khushboo” worldwide.
To delve deeper into this aspect, Indiantelevision.com in conversation Cycle Pure Agarbathi managing director Arjun Ranga discussed further on their sustainability approach, manufacturing processes, export journey and much more…
Edited Excerpts:
On fragrance’s contribution to the overall agarbathi experience, and Cycle Pure Agarbathi’s fragrances positively impacting people’s lives or environments
Fragrance is the very essence, the heart of, the incense experience. It helps in creating a calm and spiritual atmosphere. It elevates the mental state, adds purity and positivity to living spaces and is a symbol of our heritage being passed on to future generations. The scents aid the fostering of mindfulness and focus during meditation or prayer, making the overall experience deeply enriching.
At Cycle Pure Agarbathi, we feel humbled with the responsibility to keep this sacred tradition alive. We are grateful to be synonymous with the “fragrance of prayer” for billions of people across India and in over 75 countries. As a brand that partners people’s prayers, we consider our task of creating incense as a great responsibility to fulfill. When we make an agarbathi, we make it keeping in mind that it may carry the prayers of a mother who wishes for her family to be well. This is a big responsibility, and we always stick to our motto of doing the right thing.
Our legacy dates back to my grandfather’s era, just after independence, when he founded Cycle Pure Agarbathi. Today, 75 years later, cycle has become a household name because of sheer captivating power of its fragrance and uncompromising quality.
On the role of fragrance in spirituality and religious practices and Cycle Pure Agarbathi’s contribution to this aspect
Most of this has been addressed in the previous reply.
But I would like to add that our ancestors, the saints and sages of the past were aware of the significance of the deep connection of the olfactory senses with the mind and its wellbeing. They tapped into this channel and used their extensive knowledge of the therapeutic powers of natural fragrances from the forests, to enhance spiritual and divine experiences. The art of fragrance is a tradition that we are keeping alive, at cycle, for the benefit of future generations.
Irrespective of religion, traditional spiritual ceremonies are incomplete without incense. Fragrance is at the very heart of spirituality and divinity.
On the motivation behind Cycle Pure Agarbathi developing 600 unique fragrances in-house, and the company’s sustainability approach in its manufacturing processes, particularly in terms of raw material sourcing and environmental impact
It began with my grandfather who knew that the core of the business was the fragrance and its creation. Original fragrance creation would prove to be the key differentiator in a market filled with imitations. He was passionate about learning the art of fine perfumery. He ordered Poucher’s Books on perfumery worth Rs 600 from Germany in the early 1950s! It was a substantial investment that paid off with tremendous returns. He waited for six months for his books to arrive, by ship, and after having read the books, he was the first agarbathi manufacturer in India to apply the knowledge to agarbathi manufacturing!
Following his legacy, every generation thereafter is dedicated to creating distinct and unique fragrances to enhance divine experiences. We have distinguished ourselves by offering an extensive range of fragrances that cater to the wide spectrum of experiences that humans experience. As of today, we have over 600 original in-house fragrances.
Our products comply with the highest global quality standards. We are the world’s first certified carbon-neutral manufacturers of incense, prayer, and air care products. Our products are ethical, traceable, responsible, and sustainable. Our products are cruelty-free, toxin-free, and eco-friendly. Our fragrances are sustainable, degradable, IFRA (The International Fragrance Association) and GRAS (Generally Regarded as Safe) compliant. Our EPCH ‘VRIKSH’ certification provides full traceability of our legally sourced bamboo and wood powder. Our mono-carton recyclable packaging comes with an FSC (Forest Stewardship Council) certification that ensures procurement from verified and renewable, responsible and sustainably managed forests.
You could say that, at Cycle, we are committed to the well-being of all beings.
On Cycle Pure Agarbathi’s export journey so far, including the top countries to which the company exports
You could say that today, Cycle is the world’s favorite prayer brand. The fragrance of Cycle Pure Agarbathi has spread to over 75 countries. Our combined and dedicated efforts have enabled us to establish a notable presence predominantly in Europe, the UAE, and the USA. Our journey to provide hope to the world, once incense at a time, continues.
As a testament to our efforts, we have received many accolades for our exports, the most recent being the Karnataka State Export Excellence Award 2023, which we received for the third year in a row, in the ‘Handicraft Exporter’ category.
On Cycle Pure Agarbathi maintaining the quality and consistency of its fragrances across different countries and cultures, and the company’s plans to expand to new target countries this year
Again, most of this has been addressed in the previous reply.
As the world’s largest manufacturer of world-class incense, we follow the best global practices and adhere to the highest manufacturing quality standards. Quality is maintained, end to end. Our ingredients are obtained directly from source, following ethical fair-trade practices.
We use cutting-edge technology to maintain consistency and efficiency throughout our operations. Our manufacturing is a unique blend of technology and human skill. Women have been handcrafting our agarbathies for 75 years now. It’s no small feat. You could say that cycle has been empowering women by employing them, long before the term “women empowerment” was even coined.
Cycle products dominate the prayer global prayer market. As the world’s favourite prayer brand, the love for brand cycle continues to grow well beyond our existing markets of 75 countries. We find that there is a global uprising in terms of spirituality and devotion, and with it, the surge in demand for world-class prayer products. We tailor-make our products to suit local cultures and fragrance preferences. Across the board, across the globe our mission remains the same – To provide hope to future generations, by doing the right thing. Every single time. With every prayer.
On Cycle Pure Agarbathi exploring or planning to introduce any new fragrance trends or innovations in the near future
Absolutely. We thrive on a culture of innovation and creation. This year marks our 75th anniversary. It is a most special year for us. To celebrate this, we have many exciting and unique products that are waiting to be launched. Stay tuned for the latest fragrances.
Brands
Microsoft faces worst quarter since 2008 financial crisis
Cloud giant battles soaring AI costs and fierce competition from nimble startups.
MUMBAI: When the tech titan starts looking a little wobbly, even the Magnificent Seven can feel the tremors because Microsoft is currently starring in its own sequel, “Clouds and Doubts.” Microsoft is on track for its worst quarterly performance since the 2008 global financial crisis, according to Bloomberg, as investors grow increasingly uneasy about rising capital expenditure and intensifying competition from nimble AI firms. The company has been pouring money into AI infrastructure, yet markets are questioning when these hefty investments will finally deliver stronger revenue growth.
At the same time, investors are shifting away from traditional software stocks amid fears that AI startups such as Anthropic and OpenAI are developing autonomous agents capable of replacing established products, including those from Microsoft. Jonathan Cofsky, portfolio manager at Janus Henderson Investors, noted growing concern that customers may bypass Microsoft and deal directly with AI vendors, potentially disrupting its core business and putting pressure on pricing and margins.
Microsoft’s stock has tumbled 25 per cent in the first quarter, putting it on course for its largest drop since a 27 per cent fall in the fourth quarter of 2008. It has also emerged as the weakest performer among the so-called Magnificent Seven technology stocks, while a broader index tracking the group has fallen 14 per cent over the same period. The shares slipped a further 1.7 per cent after markets opened on Friday, marking a potential fourth consecutive session of declines.
Cofsky pointed out that Microsoft has become more capital intensive and that improved investor confidence will hinge on assurances that software growth will not slow materially. Despite the sell-off, the stock is now trading at less than 20 times projected earnings over the next 12 months, its lowest valuation level since June 2016. Its valuation remains slightly above that of the S&P 500 Index, although it has recently traded at a discount to the broader benchmark for the first time since 2015.
Bloomberg data shows Microsoft’s capital expenditure, including leases, is expected to surge to $146 billion in fiscal 2026, up around 66 per cent from $88 billion in fiscal 2025. Spending is projected to climb further to $170 billion in fiscal 2027 and $191 billion in fiscal 2028, based on average estimates. Investors are growing cautious about such levels of spending without clearer signs of stronger growth.
Microsoft’s Azure cloud division has reported a slight slowdown in growth compared with the previous quarter, while its Copilot AI product has seen limited user traction, prompting internal changes aimed at improving performance. Ben Reitzes, an analyst at Melius Research, warned in a March note that Microsoft’s upside in Azure could be constrained as the company works to address challenges related to its AI models and Copilot offering, adding that these issues are unlikely to be resolved in the short term.
Of the 67 analysts covering Microsoft, 63 maintain buy ratings, three hold ratings and one a sell rating. The average 12-month price target of $592 implies a potential upside of more than 64 per cent, the highest on record based on data going back to 2009. The stock is also trading below its 200-day moving average by the widest margin since 2009.
Reitzes suggested the dominance of buy ratings may indicate complacency among analysts, while highlighting risks in Microsoft’s productivity and business processes segment as well as its More Personal Computing division. In contrast, Tal Liani of Bank of America reinstated coverage with a buy rating, citing durable multi-year growth prospects across cloud and AI. Jake Seltz, portfolio manager at Allspring Global Investments, maintained that Microsoft retains strong long-term value and that its AI strategy is likely to be validated over time, viewing near-term concerns as a potential opportunity for longer-term investors.
The report highlights a growing divergence in market sentiment, with optimism around long-term AI potential weighed against immediate execution risks and investor uncertainty. In the world of big tech, even the mightiest clouds can have silver linings but right now, Microsoft’s investors are scanning the horizon for clearer skies.
