Megamorph eyes market push
Megamorph Marketing, the young Bengaluru-based cleaning solutions firm, has devised a multi-pronged expansion strategy for the next couple of years — seeking to foray into more segments and new markets, apart from establishing a new facility.
The company will be investing over Rs 4 crore over the next two years to realise its vision, for which it is exploring several funding means including debt and equity.
Presently, Megamorph, as part of its brand Care Clean, manufactures 22 chemical agents in the industrial cleaning space, while six products split across 13 SKUs are sold under the retail cleaning umbrella. These products include cleaning chemicals for floors, kitchens, glass, toilets, dishes, bathrooms, and so on.
In April, the company — which is expecting Rs 5 crore in turnover this year, growing at a robust 150% — will be entering the cleaning tools category, and launching green pad-sponge, sponge-wipe, scrubbers, and dishwash bars, among others, which will be sourced through contract manufacturing in Pune.
“Today, people are not looking at cheap alternatives, especially in terms of cleanliness. While MNCs are more focused on bigger opportunities, they’ve not stressed on the value-for-money mass market. It is here that we step in,” Megamorph Managing Director Ashwin Suresh told DH.
Megamorph’s plant in the city houses an R&D centre and boasts a daily capacity of 5,000 litres, which would be hiked to 12,000 litres by the end of this year.
“We have the capability for in-house development of new chemicals on demand with consistency, through heavy automation at the plant. Solutions from here are shipped to markets across Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Maharashtra and Goa. We are now eyeing markets in the North and East regions over the next two quarters,” Megamorph Chief Executive Officer Niyati Purohit said.
In order to provide cleaning solutions for its new markets, Megamorph is opening a new (pharma-grade certified) plant at Indore in the first quarter of 2018, from where, it also plans to supply its wares to hospitals.
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