“We clocked our highest-ever revenue of Rs 220 crore in FY 2022-23”

Sanjay Jain, Director, Elanpro

Gurugram-based Elanpro is one of India’s five largest Commercial Refrigeration companies. Having significant shares in the Indian Food and Beverages (F&B) industry, Elanpro and its partner brands can be found in almost all cinema chains, in over 50 per cent of QSRs, and 70 per cent of bars across India. The company has over 70 per cent market share in the draught beer industry and almost 50 per cent in the beverage industry. Sharing his plans on how the company is marching toward becoming the most respected Refrigeration and Food Equipment company in India, Sanjay Jain, Director, Elanpro, chats with Nuffoods Spectrum in a recent interview.  Edited excerpts:

What is the status of the Indian food equipment market? 

The Indian Food Equipment market is expected to register significant growth in the next decade. In the wake of the pandemic, our food service industry is witnessing a rapid resurgence, and the Indian commercial refrigeration market is poised to reach a staggering $16.35 billion by  2030.

The robust growth of the commercial refrigeration market is driven by increasing demand for food and beverage products. Given that Indian weather conditions make refrigeration at the heart of the Food and Beverage Industry, the commercial refrigeration market is estimated to reach Rs 5000 crore. 

As we work diligently to secure a substantial market share, it becomes evident that the viability of our efforts, in the long run, is undeniable.

What kind of equipment do you supply for the Indian Food & Beverage (F&B) industry?

Elanpro has been pioneering innovative technology and advanced features in the commercial refrigeration industry. We have an array of products that help with the storage, preservation, and display of perishable items. Our primary product portfolio encapsulates chest freezers, Visi coolers, Display Refrigerators, reach-in refrigerators, beverage coolers and dispensers, ice machines, Countertops, wine coolers, etc. apart from many more secondary refrigeration products. 

We are working towards becoming an end-end solutions provider for the HoReCa segment. For that reason, we acquired I cold solutions. This acquisition has expanded our reach in cold storage solutions. 

With our wide range of products, we assist Hotel, Restaurants, Café, Bar, and retail F&B operators to improve productivity, and increase profitability.

Which Indian food processing companies and HORECA players does Elanpro supply to?

Our unique and innovative solutions assist Hotels, Restaurants, Fast food Chains, Resorts, Café, Bars, and retail F&B operators. We have created a trusted relationship with major industry players like Pepsi, Coke Vadilal, London Dairy, Baskin Robbins, Amul, Naturals, Hyatt, Hilton, ITC, The Leela, Marriott, Radisson, SABMiller, Inbev, etc. 

Which equipment is most in demand in the Indian F&B industry in terms of refrigeration?

It is essential to maintain food at a safe temperature at all stages. Due to the varying complexities and unique challenges faced by different aspects of the F&B industry, there is no one-size-fits-all equipment.  

However, there is a strong demand for reach-ins as the equipment ensures food safety, preserves quality and promotes operational efficiency. They are indispensable tools for any food service establishment that values maintaining high standards in its offerings and operations. 

Ice machines are also playing a vital role in the hospitality industry. A cost-effective and convenient way to produce ice, this product has witnessed some technological innovation over the years making it one of the most sought-after products in the beverage industry. In fact, it was because of this demand we launched state-of-the-art Elanpro Ice machines. Our product gives superior performance even in the most challenging water conditions as it does not require a line connection and provides the option to connect 20-litre bottles eliminating the need for plumbing, drainage, and water pressure if using RO water. 

Apart from these two products, cold rooms are also in demand. Cold rooms keep perishable products chilled or frozen to slow down deterioration and prevent bacterial growth, so they’ll be safe to use and consume for longer periods.

How is Elanpro marching toward its vision to become the most respected Refrigeration and Food Equipment company in India?

We are committed to continuous innovation and improvisation.  We have streamlined our operations and devised a progressive strategy. Our recent investments are aimed at strengthening our business objective. 

We have also worked on creating a relatable and noticeable brand image. Our new logo and tagline embody the brand’s quality of delivering innovative, world-class, and consistent quality products.

I feel that adhering to this strategy and demonstrating a commitment to excellence in service and technology will help us achieve our vision to create an ecosystem of diverse cooling products catering to food and beverage businesses of different sizes. 

What was the FY 2022 revenue of the company and what do you expect in FY 2023? 

We clocked our highest-ever revenue of Rs 220 crore in FY 22-23. This is against Rs 125.80 crore in the previous financial year, representing an annual growth of over 74 per cent. 

The workcation and staycation trend along with constant interest in domestic travel continues to accelerate, paving the way for strong growth opportunities. We expect to continue on the growth route and achieve an increase of 25 per cent in FY 23-24. 

What per cent does the food equipment business contribute to the total revenue?

The food equipment business contributes 95 per cent to the total revenue of the company and the rest can be attributed to pharmaceutical equipment. 

Please update us on the R&D efforts the company puts into the technology involved in food equipment.

We have been continuously investing in research and development in order to bring relevant products to our Indian customers. We wanted to keep abreast with the new-age technology, and for this reason, we invested in Thingify. ThingiFy uses Internet of Things (IoT) technology and automation to improve the efficiency, functionality, and remote monitoring capabilities of food equipment. 

We also collaboratively work with various companies to develop state-of-the-art products by leveraging their expertise. Through such partnerships, we harness their specialised knowledge to create cutting-edge solutions that meet the specific needs of our clients. 

Through relentless dedication to research and development, we are actively addressing the fundamental challenges of space, utility, productivity, and convenience that are faced by the F&B industry.

What are the plans of the company in terms of the international food equipment business?

We forayed into Nepal and Bhutan. Presently, we plan to concentrate on strengthening our presence in these two markets. We aim to solidify our position by capturing 30 million markets in Nepal and 15 million in Bhutan.  

We are also consolidating our distribution set-up of I Cold in Saudi Arabia. Further expansion plans will be subject to the macroeconomic and market conditions.

What are the future plans of the company in terms of the food equipment business?

We strive to become the holistic industrial refrigeration solutions provider that uses industry knowledge, cutting-edge technology, and innovative solutions to enhance customer experience. We have relentlessly pushed our boundaries to bring innovative products. 

By extending its presence in most segments of food and beverage retail, delivery, and cloud kitchen, ELANPRO is aggressively developing a well-rounded portfolio catering to every Indian customer aspiring to open a restaurant, café, hotel, ice-cream parlour, and F&B retail outlet. We want to empower our customers with ground-breaking solutions.

What agenda FSSAI should follow for the next 10 years to boost India’s Food equipment and logistics market?

FSSAI’s mandate is to lay down science-based standards for food products in the country and enforce the same. Various initiatives such as Food Safety Training and Certification (FoSTaC) and Eat Right Mela are already contributing significantly to achieving the desired outcome. While food equipment and logistics do not fall directly within the purview of the food regulator, it is encompassed within its broader scope.  

It should continue with its current program which, I feel, is quite an intricately designed, multi-tiered initiative including monitoring, enforcement, and education.

Monitoring is vital as consistent supervision and a close watch will help identify potential perils in the Food equipment and logistics market. Strict implementation of various regulations and measures is crucial as it establishes a robust framework to adhere to, ensuring the entire market follows the guidelines. It is also important to upgrade the skills of individuals working in the food equipment and logistics market as their expertise directly influences the food supply chain.

In my opinion, these measures will further propel the attainment of the desired objective. 

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