ReshaMandi, a natural fibre supply chain startup, stated in a media statement on Wednesday that its revenue has increased thrice in the first three quarters of FY23 to Rs 1,248.3 crores.
The firm expects to achieve EBITDA profitability in the third quarter of fiscal year 2022-23 and to achieve net profit in the following two quarters.
It further said that its income increased to Rs 413.8 crore between FY2021 and FY2022. ReshaMandi predicts that weaves will generate 55% of future sales (based on revenue forecasts for the next 5 years), while 25% will come from other products. The firm also wants to expand worldwide by entering the US and Europe.
ReshaMandi intends to widen its concentration in natural textiles to include materials such as wool, jute, and mixes, as well as experiment with categories such as sisal and banana, in addition to its current offers in silk, cotton, viscose, and linen (both national and international).
According to Mayank Tiwari, the company’s founder and CEO, the company has been able to serve a wide range of stakeholders, including farmers, reelers, and weavers, as well as retailers, mills, manufacturers, exporters, corporates, designers, and end users, resulting in the creation of a cohesive ecosystem for the entire textile supply chain.
It recently expanded into the Southeast Asian and Middle Eastern markets with the intention of becoming a one-stop shop for all natural and recycled materials.
ReshaMandi, founded in 2020, today works with over 100,000 farmers, 10,000 reelers, 17,500 weavers, and 18500 merchants across the natural fibre supply chain to enhance production, raise bottom lines, and ultimately alter the quality of their life.
It also stated that it has delivered over 15 million metres of natural fabric to over 500 different companies, including exporters and makers of traditional Indian textiles, garments, and home furnishings.
