This is a story of P C Mustafa, a boy who failed in Class 6, but now a 42-year-old man and has set up Rs 100 crore company. He is from a remote village in Wayanad, Kerala, where his father was a coolie and his mother never went to school.
After failing in 6th grade, he felt humiliated and with the help of his role model Mathew sir, he started passing with flying colors and stood first in 10th standard. After that he joined college in Calicut, where he was made fun for his charity meals.
He was very weak in English. But a good friend helped to translate everything from lectures. He then joined Engineering at Regional Engineering College, Calicut and graduated in 1995. He got placed at Manhattan Associates, an Indian startup in the US. In few days, he got an offer from Motorola and was sent to Ireland. After three months, he received a very good offer from CitiBank and moved to Dubai.
He returned to India, to give back something to society by creating jobs. In order to do that, he had to be an entrepreneur. Quitting a well-paying job was one of the toughest decisions he has ever made. He decided to do an MBA, gave the CAT exam and got admission at IIM-Bangalore.
Shamsuddin, one of his cousins had seen dosa batter being sold in plastic bags tied with a rubber band in nearby stores and suggested to make and supply dosa batter. That was an Aha! moment.
With an initial invest Rs 25,000 we started a company immediately. Nasser, Shamsu, Jaffer, Naushad and him, decided to join hands.
Starting with a small place of around 550 square feet with two grinders, a mixer and a sealing machine they named the venture ID Fresh as they planned to supply fresh dosa and idli batter. In 2008, another Rs 40 lakh (Rs 4 million) was invested and a 2,500 sq ft shed in the Hoskote Industrial Area was bought. Five large wet grinders were imported from America and customized them to fit requirements. Parathas was added to list of products. They have plans of introducing vada batter and also rava idli batter. They do not add preservatives in their products.
In 2012, they expanded to other cities like Chennai, Mangalore, Mumbai, Pune and Hyderabad and in 2013 operations in Dubai started.
Rs 100 crore company
They produce around 50,000 kg in plant. The total investment was around Rs 4 crore (Rs 40 million) and revenue is Rs 100 crore (Rs 1 billion). They started from 10 packets per day and grew exponentially. Whenever he employs someone in his plant, he makes sure the person belongs to rural area and is smart and honest.