Nandu’s Foods, one of India’s leading hyper-local, omni-channel, farm-to-fork fresh meat and food companies, has emerged as one of the fastest-growing organised players in India’s fresh food segment, achieving EBITDA profitability while continuing to scale, a rare milestone in India’s perishable retail space.
Within a few years of launching its modern hyper-local omnichannel retail format, Nandu’s Foods has scaled to a Rs. 15+ crore monthly revenue run-rate, backed by strong unit economics and disciplined expansion. The company reported revenues of ₹121 crore in FY24 and Rs. 143 crore in FY25 and is on track to close FY26 at a run-rate of ~Rs. 165 crore.
While Nandu’s continues to invest ahead of growth through new store openings, the business is underpinned by robust store-level economics. Mature stores operate at high teens to ~20% EBITDA margins, enabling the company to remain EBITDA positive at a consolidated level despite ongoing expansion.
“In fresh food retail, profitability doesn’t come from chasing discounts; it comes from getting the fundamentals right,” said Narendra Pasuparthy, Chief Farmer, Founder & CEO, Nandu’s Foods. “Turning EBITDA positive while we continue to expand validates our farm-to-fork model and our focus on quality, consistency, and trust.”
Today, Nandu’s operates 50+ company-operated stores and holds a leadership position in Karnataka. Nandu’s also operates in 35+ cities in partnership with all the Quick Commerce partners.
Profitability has been underpinned by end-to-end control across sourcing, processing, and retail, helping reduce wastage, improve inventory turns, and maintain consistent quality. A loyal customer base has further strengthened margins, with repeat customers contributing 78% of revenues in FY25.
Alongside fresh meat, the bedrock of the brand, Nandu’s is seeing a structural shift in consumer demand toward convenience-led meat consumption. Its Ready-to-Eat (RTE) and Ready-to-Cook (RTC) categories grew 20% year-on-year and now contribute nearly 19% of total revenues, a share that continues to rise.
Growth has been led by the brand’s “Heat & Eat” range, particularly its starters, which have become high-velocity products across weekdays as well as festive and weekend occasions. Importantly, all RTC and RTE products follow a 100% clean-label policy, with no taste enhancers or artificial food colours.
“As much as we are focused on fresh meat, the bedrock of our trust, we are equally committed to ready-to-cook and ready-to-eat foods,” Pasuparthy said. “The modern consumer’s time is precious, but their health is non-negotiable. We are bridging the gap between convenience and clean, farm-fresh nutrition.”
Nandu’s does not outsource any part of its production. Every product is developed by an in-house culinary team and manufactured at its 30,000 sq. ft. ultramodern facility, which is FSSAI and FSSC 22000 certified. This vertical control ensures full traceability, consistent quality, and minimal compromise, whether consumers buy fresh cuts or pre-marinated RTC packs.
By offering 100% antibiotic-free and hormone-free meat, raised on its own farms and processed in-house, Nandu’s has addressed the long-standing trust deficit in India’s unorganised meat sector.
Nandu’s places strong emphasis on sustainability, ensuring that the meat it produces is consistently safe for consumers, including children, while maintaining strict environmental responsibility as the company scales. In line with this commitment, the company operates on a circular economy model, utilising solar power across its farms and converting chicken litter into organic manure, ensuring that growth and sustainability go hand in hand.
Quick commerce has rapidly boosted adoption of Nandus’ RTE range, especially for impulse and immediate-consumption purchases, complementing its strong retail network. The brand’s D2C website and app continue to show an impressive 84% repeat purchase rate. With 10-minute delivery and a fully integrated farm-to-fork supply chain, trial barriers have reduced significantly, expanding access to high-quality protein products.
Over the next 3–5 years, Nandu’s aims to scale to 300+ touchpoints, strengthen its Southern India presence, and tailor its RTE portfolio to regional tastes, while sustaining EBITDA-positive, capital-efficient growth. The company is also moving toward 100% plastic-free packaging and further lowering its carbon footprint.
At a time when many consumers and D2C brands are prioritising profitability over aggressive expansion, Nandu’s Foods’ journey underscores the importance of strong unit economics, repeat-led demand, and operational discipline in building a resilient, long-term food retail business.
