Aquapeya didn’t take the traditional route to success in the competitive beverage market. It wasn’t about catching the latest trend or following the typical playbook. Founders Tushar and Ravi Mundada, who have been in the FMCG sector since 2007, built their strategy around an unusual but straightforward philosophy: “The consumer is not the king. The channel partner is the king.” Instead of getting distracted by consumer preferences, they doubled down on their relationships with dealers and retailers, ensuring that the people who moved their product were motivated, engaged, and profitable.
A Breakthrough Moment on Shark Tank India
Aquapeya’s visibility skyrocketed when it appeared on Shark Tank India. For many entrepreneurs, the show is simply a platform to secure investment. For Aquapeya, it was a game-changer — a moment that brought the brand national attention and positioned it for significant growth. “Shark Tank India wasn’t just about the funding. It was an entrepreneurial education that provided insights that went beyond the financial support,” Tushar commented. The exposure from the show not only helped Aquapeya secure critical investments but also brought strategic advice that fueled the company’s next phase of growth, the founders noted. With the backing from the platform, Aquapeya is now poised to expand its production capacity by 50% at its existing facility by 2025. The aim is to scale up operations and reach a revenue target of Rs 20 crores. “We are cracking the market on trends,” he declared, defending his strategy amid investor debates. With products spanning 75% water, 13% jeera soda, 7% mango juice, and just 2% carbonated drinks, Tushar’s clear focus on consumer preferences has fueled profitability from day one. FY 2024 closed at Rs 9 crores, and with an EBITDA of 16%, the brand is targeting Rs 12 crores for FY 2025.
To the panel of sharks, the founders revealed that the bottles sold at Rs20 and a dealer price of Rs 6.5, leaving a 20% margin and Rs 1.25 operating profit per unit. However, the brand’s approach sparked intense investor discussions. “You are a copy brand,” Piyush critiqued, arguing the business couldn’t scale profitably. In contrast, another perspective emerged: “The company’s expertise in distribution needs to be copied and pasted pan-India,” Namita Thapar said, emphasising the strength of Aquapeya’s model.
Ultimately, the offer that stood out was Rs 70 lakhs for 3% equity and 1% royalty until recouped. One investor summed it up: “No strategy, only tactics,” yet the potential for co-branding and scaling into 10,000 hotels seemed to outweigh doubts. Tushar’s confidence in cracking trends and customer loyalty remains at the heart of Aquapeya’s rise, proving that bold risks can lead to big rewards.
Aquapeya’s financial performance and future outlook
Aquapeya’s financials reflect the company’s steady growth and operational efficiency. The company is currently generating Rs12 crores annually, with a gross profit margin of 25%, an EBITDA of 20%, and a net profit of 10%, according to details shared by the founders. These numbers indicate that the brand is not only growing but doing so profitably, and its financial health positions it well for the future.
Automation and technology as pillars of innovation
In a market where traditional methods still dominate, Aquapeya, according to its founders, stands out for its commitment to automation and technology. From automating the production process to minimising human intervention in logistics, the company has embraced cutting-edge technology to streamline its operations. “Automation isn’t just about efficiency — it’s about setting a new standard for product quality and operational safety.” Tushar highlighted. Aquapeya’s commitment to technology has made its manufacturing process fully automated, allowing the company to maintain strict quality control while improving overall efficiency.
Sustained growth amid challenges
Since its inception, Aquapeya has shown impressive growth, even in the face of challenges. The company started with a modest Rs 30 lakh in monthly revenue and a network of 25 dealers. Today, it generates Rs 1 crore in monthly revenue, supported by 90 dealers and approximately 10,000 outlets. Despite setbacks such as the COVID-19 pandemic, which cost the company significant sales during the summer seasons, Aquapeya has reportedly maintained an annual growth rate of 20-25% in terms of volume.
Tushar credits their success to their focus on building long-term relationships with channel partners. “Our growth is a direct result of the trust we’ve built with our partners. In tough times, they’ve stood by us, and we’ve focused on making sure that our growth is sustainable,” he said.
Expansion plans
While Aquapeya’s success has primarily been concentrated in Maharashtra, the company is now preparing to expand its reach. The Mundadas are exploring co-packing partnerships outside Maharashtra, with a particular focus on strategic locations like Mumbai, Pune, and Nashik. By optimising logistics and expanding its distribution channels, Aquapeya aims to meet the growing demand for its products across new regions. “We’re not rushing to expand everywhere; we’re strategically targeting regions that align with our growth strategy,” Tushar added.
Building a stronger team for future growth
As Aquapeya looks to scale further, the company recognises the need to strengthen its internal team. The Mundadas are actively recruiting professionals with experience in the FMCG and beverage sectors to help manage the company’s growth and customer acquisition strategies. As Tushar puts it, “It’s not just about expanding the business; it’s about building the right team to ensure we’re positioned to grow effectively.”
Looking ahead, the Mundadas remain committed to sustainable, long-term growth. With plans for further investment in technology, logistics, and talent, Aquapeya is positioning itself for continued expansion — one careful step at a time.