Wingreens Farms Seeks ₹200 Crore to Boost Growth

Wingreens Farms, a prominent player in the Indian packaged foods sector, is gearing up to raise ₹200 crore to enhance its business operations. Backed by investors like Peak XV Partners and Investcorp, the company has appointed JM Financial to lead this fundraising initiative. This strategic move comes as Wingreens implements a turnaround plan aimed at improving its unit economics and significantly reducing losses.

The founder, Arjun Srivastava, shared that the funds will be used for both organic and inorganic growth. Wingreens has reported being Ebitda profitable for the last few quarters and anticipates a revenue growth of about 30% compared to the previous year. The company is also optimistic about breaking even at a net profit level in the current fiscal year.

Founded in 2011 by Arjun and Anju Srivastava, Wingreens Farms focuses on minimally processed products made from high-quality ingredients. Its diverse portfolio includes dips, spreads, sauces, snacks, and beverages. Over the years, Wingreens has attracted nearly $60 million in funding and operates several brands, including Raw Pressery and Saucery.

Despite challenges, including a reported decline in consolidated revenue from ₹311 crore to ₹260 crore, Wingreens has managed to narrow its losses significantly. The company is working on restructuring measures to enhance its financial health. The FMCG market in India is booming, with revenues expected to reach $615.87 billion by FY27, presenting a ripe opportunity for growth.

As the competition in the packaged food sector intensifies, Wingreens competes with established players and new entrants alike. Industry experts note that investor interest in Indian FMCG brands is driven by urbanization and changing consumer preferences. For Wingreens, the path forward includes expanding its product range and exploring new sales channels, ensuring they remain competitive in this dynamic market.

With plans for a potential IPO by FY29, Wingreens Farms is set to solidify its position in the Indian FMCG landscape. As it navigates challenges and capitalizes on growth opportunities, the company is committed to delivering quality products to health-conscious consumers across the country.