Brands
Mukta Arts’ Q3 FY19 consolidated revenues up 33% y-o-y to INR 40.7 core
Mumbai : Mukta Arts Limited today announced the financial results for the third quarter and nine months ended on December 31, 2018, as approved by its Board of Directors.
Consolidated revenue for Q3 FY19 grew by 33.2% y-o-y; from Rs 30.5 crores to Rs 40.7 crores. Whistling Woods International, a Mukta Arts’ subsidiary in the education business posted a 19% growth in revenue for Q3 FY19. During the quarter, Whistling Woods hosted the CILECT Congress, a globally renowned & prestigious event in the film education fraternity. This was the first time that the event was held in India. It attracted eminent keynote speakers and a total of 171 delegates represented 52 countries.
Mukta A2 Cinemas, a subsidiary into exhibition business posted a 43% y-o-y growth in Q3 FY19 revenues at Rs 19.7 crores and turned EBITDA positive. The company added 5 new screens recently and its total count as of today stands at 64 screens, including 6 in Bahrain & 10 under its JV with Asian Cinemas.
For 9M FY19, the company’s consolidated total revenue at Rs 124.3 crore grew by 23%. EBITDA for nine months was Rs 11.7 crore while Total Comprehensive income at Rs 1.7 crore as against Rs 1.4 crore after extraordinary income of Rs 4.3 crore during the corresponding previous nine months of FY18.
Commenting on its performance, Rahul Puri, Managing Director, Mukta Arts said, “Both our key businesses, exhibition and education reported strong revenue growth during Q3. Even for nine months, the revenue growth of over 20% is quite healthy and we reported a small post tax profit compared to losses during the similar period last year. We see good traction across the businesses.”
Brands
Hocco crosses Rs 530cr revenue in two years
Sauce.vc-led Rs 100cr raise values ice cream brand at Rs 2,500cr pre-money as quick commerce hits 20 per cent of sales.
MUMBAI: Hocco has just scooped a seriously sweet milestone crossing the Rs 530 crore revenue mark in just two full years of operations. The fast-growing Indian ice cream and indulgence brand announced it has raised Rs 100 crore in fresh capital led by Sauce.vc. The round values the company at Rs 2,500 crore pre-money and underscores investor confidence in its rapid scale and distinctive India-first approach.
Founder Ankit Chona said the brand’s success stems from solving real Indian challenges extreme summer heat, fragmented cold chains and culturally rooted tastes. “In India, product development doesn’t end in the lab. It only ends when it survives the street,” he noted. This philosophy has produced viral hits such as Aamchi mango ice cream, BIX cake-sponge sandwiches, the Oh cone and culturally relevant collaborations like Haldiram’s Barfi and festive Modak specials.
Hocco currently operates manufacturing facilities in Ahmedabad and Panipat with a production capacity of approximately 3 lakh litres per day, running near full capacity in peak season. The fresh capital will help expand this to around 4.5 lakh litres per day.
Quick commerce has emerged as a major growth engine, now contributing ~20 per cent of overall business and growing nearly 2x year-on-year. The channel has boosted product discovery, increased consumption frequency and helped extend ice cream beyond its traditional seasonal limits.
Sauce.vc founder Manu Chandra said, “At Sauce, we believe that when you chance upon an outlier business, you double down with stronger conviction. We see Hocco as just that.”
With a strong innovation pipeline, deeper distribution and continued focus on cultural relevance, Hocco is entering its third year aiming to capture even more mind space and market share. In a category long dominated by legacy players, this young brand is proving that the coolest way to win is to build for India’s realities, one scoop, one street and one satisfied craving at a time.
