Jhandewalas Foods

What Jhandewalas Foods does

Jhandewalas Foods Limited is a publicly listed Indian FMCG company headquartered in Jaipur, Rajasthan, operating under the master brand 'Naman' with sub-brands including Godhenu (premium cow ghee), Polki (cooking oils), and Yumm yoo (pasta). The company traces its lineage to 1895 through the sister concern Shri Hari Narayan Gyarsilal and launched its IPO in 2018 (BSE ticker: JFPL). Its portfolio spans 50+ SKUs across premium ghee (buffalo and cow, including A2 Bilona variants), cold-pressed cooking oils (mustard and groundnut), spices (saffron, achaar masala), pasta, soya chunks, traditional Indian sweets, and bulk dairy ingredients (skimmed milk powder). Manufacturing combines the traditional Bilona hand-curd churning method with fully automated machinery and FSSAI-compliant laboratory testing, with ISO 22000:2018 certification.

The business operates a hybrid go-to-market model. Direct-to-consumer sales run through a Shopify storefront (namans.co.in) with pan-India delivery and a menu of digital marketing channels (social media, recipe blog, email newsletter). The primary offline channel is a 200+ distributor network reaching 15,000+ retail stores, with stated intent to expand nationally beyond the Rajasthan base. B2B bulk orders (15kg tins, 5L/15L packs) are sold directly to sweet shops, bakeries, confectioneries, food manufacturers, and beverage producers, with corporate gifting as an additional enterprise channel. Pricing is unit-based across SKU tiers, with promotional discounting and free delivery above Rs. 500.

The customer base is horizontally segmented across individual health-conscious households, traditional sweet shops, bakeries, food manufacturers, beverage producers, and corporate clients, with only one named enterprise customer (Seven Star Caterers) disclosed. The company is led by Managing Director Raakesh B. Kulwal, with a key managerial team including CFO Irfan Naqvi, Company Secretary Shipra Gandhi, and Director Jinko Devi Koolwal. Headcount stands at 200+ employees, and operating geographies are currently India-only with no international footprint.

Name

Jhandewalas Foods

Legal name

Jhandewalas Foods Limited

Website

https://namans.co.in

Company type

Public

Founded year

1895

Operating status

Operating

Headcount range

101–250 employees

Short description

Jhandewalas Foods Limited is a publicly listed Jaipur-based FMCG company that manufactures and distributes traditional Indian food products, primarily ghee, under the Naman brand, selling through 200+ distributors, 15,000+ retail stores, a DTC e-commerce site, and B2B bulk channels.

Ownership category

akta.pro rank

Product category

Dairy and Edible Oils FMCG

NAICS

Dairy Product Manufacturing (3115), Food Manufacturing (311), Dry Pasta, Dough, and Flour Mixes Manufacturing from Purchased Flour (311824)

SIC

Dairy Products (2020), Miscellaneous Food Preparations & Kindred Products (2090)

akta.pro industry

PRIMARYAFAKACAK

Dried & Dehydrated Foods Manufacturing

Agriculture & Food Production/Food Processing & Manufacturing/Canned, Frozen & Preserved Foods Manufacturing

SECONDARYAFAHAHAJ

Specialized Dairy Nutrition Base Powder & Premix Manufacturing (Vitamin/Mineral/Functional Premixes)

Agriculture & Food Production/Dairy Processing/Infant Formula & Specialized Dairy Nutrition Manufacturing

SECONDARYAFAKABAK

Gluten-Free & Specialty Grain-Based Foods Manufacturing (GF pasta/cereals, ancient grains)

Agriculture & Food Production/Food Processing & Manufacturing/Breakfast Cereals, Pasta & Grain-Based Foods Manufacturing

Keywords

• Desi ghee products
• Indian cooking oils
• Traditional Indian sweets
• Dairy ingredients bulk
• FMCG food products

Headquarters

HQ city

Jaipur

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Direct E-commerce Sales: Direct-to-consumer sales through own Shopify e-commerce platform namans.co.in, offering products at retail prices with discounts and promotional offers.
2. B2B Bulk Orders: Bulk supply of ghee, SMP, and other products to sweet shops, bakeries, confectioneries, food manufacturers, and beverage producers. Products available in bulk packaging (15kg tins, 5L, 15L).
3. Retail Distribution: Products distributed through network of 200+ distributors to 15000+ retail stores across Rajasthan and expanding pan-India.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

Jhandewalas Foods Limited manufactures and sells traditional Indian food products under the Naman brand, centered on premium ghee (buffalo and cow, including A2 Bilona varieties). The portfolio also spans cooking oils (mustard and groundnut under Polki), spices (saffron, achaar masala), pasta (Yumm yoo), soya chunks, and traditional Indian sweets (kaju barfi, besan laddoo, milk peda, gond laddoo, panjeeri laddoo). The company also supplies bulk dairy ingredients such as skimmed milk powder to B2B customers including sweet shops, bakeries, and food manufacturers.

Product overview

Jhandewalas Foods operates as a multi-category FMCG company under the Naman brand, offering a diverse portfolio of traditional Indian food products. The core offering centers on premium ghee products made from buffalo and cow milk (including A2 Bilona varieties), supplemented by cooking oils (mustard oil and groundnut oil), spices (saffron and achaar masala), protein products (soya chunks with tastemaker), pasta products, and traditional Indian sweets (kaju barfi, besan laddoo, milk peda, gond laddoo, panjeeri laddoo). The company also offers bulk dairy ingredients like skimmed milk powder for B2B customers. Products are distributed through 200+ distributors reaching 15000+ retail stores pan-India.

Differentiator

Problem solved

Functional benefit

Brands

• Godhenu: Premium cow ghee brand including A2 Bilona Cow Ghee and regular Cow Ghee products
• Polki
• Yumm yoo

Products and services

• Naman Pure Ghee / Naman Desi Ghee

Quantifiable outcome

• Products reach 15000+ retail stores
• +1 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators6 records

Recent moves7 records

Expansion highlights10 records

Direct peers

• Patanjali Ayurved: Patanjali's food division directly competes in cow ghee and A2 cow ghee, riding the same Ayurveda/heritage positioning as Jhandewalas's Godhenu brand. Comparable premium natural-food positioning and pan-India retail ambition.
• Heritage Foods: Listed Indian dairy and FMCG company producing ghee, curd, and value-added dairy products with national distribution. Closely comparable publicly listed dairy player with similar multi-product rural-to-urban distribution model.
• Bikaji Foods International: Rajasthan-headquartered, publicly listed Indian snacks/sweets company (Bikaji namkeen, sweets, papad). Highly comparable as a heritage-driven, Jaipur-based, publicly listed ethnic-food FMCG with similar distribution and IPO trajectory.
• Anik Dairy Products: Ghee and dairy ingredient manufacturer serving sweets, bakery, and HoReCa customers in India. Highly comparable B2B ghee and ingredient supply model with bulk-pack sizes and traditional positioning.
• Mother Dairy: Major Indian dairy processor (NDDB subsidiary) selling branded ghee, dahi, and paneer through retail and B2B channels. Closely comparable product portfolio (especially ghee) and similar hybrid distribution model.
• Parag Milk Foods (Go Cheese, Gowardhan): Listed Indian dairy company with Gowardhan cow ghee as flagship brand. Direct national-level competitor in branded ghee with overlapping B2B ingredient business and similar premiumization strategy.
• GRB Dairy Foods: Chennai-based dairy processor specializing in ghee, paneer, and curd under the GRB brand. Direct competitor in branded ghee with similar B2B and retail channels across South and North India.

Broad incumbents

• Amul (GCMMF): India's largest dairy cooperative, dominating fluid milk and a top-3 branded ghee player alongside Jhandewalas. Directly comparable as a ghee manufacturer with pan-India distribution and B2B ingredient supply, but at vastly larger scale and as a multi-vertical dairy incumbent.
• Haldiram's: India's largest traditional snacks, sweets, and namkeen conglomerate. Indirect comparable through Indian sweets (kaju barfi, besan laddoo) category overlap and similar pan-India retail ambition.

Emerging players

• Bhole Baba Dairy Milk Products: Traditional cow ghee and A2 Bilona ghee brand from North India with growing distribution. Emerging direct competitor in the same Bilona-method cow ghee segment Jhandewalas competes in via Godhenu.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/JhandewalasLtd
• YouTubeyoutube.com/channel/UCDeo5yeWXJhQ31CziBVUFjA
• Facebookfacebook.com/namansghee
• LinkedInlinkedin.com/in/jhandewalas-foods-ltd-642404155
• Instagraminstagram.com/namans_india

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Jhandewalas Foods