Wonderchef expects Rs 400 crore revenues in current fiscal

MUMBAI: Wonderchef, kitchenware brand co-founded by renowned chefs Sanjeev Kapoor and Ravi Saxena, is looking at adding Rs 100 crore to the revenues this fiscal over the Rs 300 crore it clocked last fiscal, a senior company official said. Started off in 2009 as a direct selling company by entreprenuerial women who now number over 75,000, the firm nets 40 per cent of its volume from modern and general trade sales now, and online accounts for an equal share, co-founder and managing director of Wonderchef Home Appliance, Ravi Saxena said. “We have seen our sales, mostly through online, increasing by over 30 per cent in May as the lockdowns forced people to stay indoors and eat home food… We closed 2019-20 with a topline of Rs 300 crore and going by the current volume, I am confident of closing this fiscal at Rs 400 crore,” Saxena told. Wonderchef products, mostly mixer grinders and pressure cookers and other cookwares, command a 10-20 per cent premium over products from other brands. “We will plan an IPO when our topline crosses Rs 1,000 crore, which we expect over the next five years. Rs 300-400 crore sales is too small to get a good valuation,” he said.