AVA group, the manufacturer of Medimix ayurvedic soaps in South India, plans to register 43% growth in its business volume to achieve a turnover of ₹500 crore by 2025.
“Last fiscal, we posted ₹350 crore revenue… same as FY21, as our products are daily needed and sales were not affected due to COVID. We are aiming for ₹500 crore by 2025,” said Vivek Venugopal, director, business development, AVA group.
Asserting that hair-care segment accounted for a major share of the turnover, he said the focus would be on growing Medimix soaps and alternative wellness category to achieve the target.
On Wednesday, he announced that AVA Group was setting up a new spices processing plant near Chennai at an investment of ₹10-15 crore. The land acquisition is complete and the civil works have commenced. It will go on stream by June.
Asked about the expansion plans, he said the group companies had sufficient capacities. The hand sanitisers unit in Vijayawada would go for an expansion in future.
AVA Cholayil Health Care Pvt. Ltd. Directors Lanchana Vivek and Pratheeksha Anoop launched Medimix total care shampoo with natural ingredients in 80 ml and 160 ml packs. It is made of nine natural herbs and other essential ingredients. It will be available across all retail outlets in South and e-commerce platforms, they said.