Business EconomyPosted at: Oct 13 2026 10:37PM


Cycle Pure Agarbathi targets spiritual products market through acquisitions, New Services

Hyderabad, Oct 13 (UNI) Cycle Pure Agarbathi, the flagship incense brand of Mysuru-based NR Group (N. Ranga Rao & Sons), which produces over 12 billion incense sticks annually and exports to more than 75 countries, is expanding beyond its core agarbatti business into puja products, religious accessories and spiritual services as part of its diversification strategy through acquisitions and new ventures.

The company's diversification strategy includes the recent acquisition of Delhi-based Satvik, a puja accessories business with nearly 20,000 stock-keeping units (SKUs), and the launch of AstroPooja.com, an astrology and puja services platform, Cycle Pure Agarbathi CEO and Managing Director Arjun Ranga told reporters here on Tuesday after unveiling its festive-season fragrances, Royal Secret and Bansuri Durbat, in Hyderabad.
The acquisition marks a further push into the broader spiritual products market, with Cycle Pure Agarbathi planning to integrate supply chains, scale operations and expand Satvik's business. Satvik operates predominantly online and offers products such as Rudraksha malas, beads and other religious accessories.
Through these initiatives, the company aims to evolve from an agarbatti manufacturer into a broader provider of products and services catering to consumers' religious and spiritual needs, Ranga said.
Puja-related products, including camphor, kumkum, turmeric and other essentials, currently contribute around 15–20 per cent of the company's overall business. Its portfolio also includes home and car fragrances, alongside its core incense products.
Despite the diversification, agarbatti remains the company's principal business, with quality control, fragrance development and supply-chain efficiency continuing to be key priorities. The company conducts around 30 quality tests, focusing on raw materials, fragrance consistency and product quality, Ranga said.
India's agarbatti category has an estimated household penetration of around 82 per cent, with annual growth ranging between 4 and 7 per cent, depending on the product, according to estimates cited by the company.
The broader market is estimated at around Rs. 7,000 crore in retail value, although the industry remains highly fragmented, with regional manufacturers and unbranded players competing across markets.
Ranga said the absence of comprehensive, current market-tracking data made it difficult to establish precise market size and market shares. Consumer demand is also shaped by established price points, making competition particularly intense in the mass-market segment.
The company's revenue stood at an estimated Rs. 1,600 crore in the previous financial year, based on publicly available figures, Ranga said.
He declined to provide a revenue projection for the current financial year, noting that the main selling season was beginning.
Manufacturing capacity expansion will be guided by market demand and improvements in logistics, with the company considering the strategic importance of locating production closer to key markets, he said
Its Hyderabad oil production facility plays an important role in its operations, he added.
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Tags: #Cycle Pure Agarbathi targets spiritual products market through acquisitions# New Services
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