Cycle Pure Agarbatti is sharpening its push into digital channels and associated product categories as it looks to evolve beyond its traditional incense business. As part of this strategy, the company has acquired a majority stake in Satvik Spirituals Pvt Ltd, a company that built its business of spiritual and lifestyle offerings through e-commerce.
"E-commerce is still relatively new for us and Satvik is a digital-first brand and understands consumer behaviour online,” Arjun Ranga, managing director of N. Ranga Rao and Sons Pvt Ltd, the parent company of the incense stick brand, said in an interview with Mint.
While the financial details were not disclosed, the move reflects Cycle Pure’s intent to build online capabilities, diversify its portfolio beyond core puja consumables and leverage new-age consumer trends around convenience, design and authenticity.
The Mysuru-based company is looking to position itself as a broader spiritual lifestyle company, aiming to tap younger consumers and expand its presence in India’s fragmented, fast-growing market for faith-based products and digital services like online aartis, Ranga said.
This market is massive and still largely untapped. India’s faith and religious products segment alone is already worth over $35 billion and remains ripe for digital disruption, according to a 2024 Redseer report.
The company’s move reflects the broader trend of a slew of direct-to-consumer (D2C) acquisitions by some larger FMCG companies in recent years to enter online commerce and tap into the young demographic. Reliance Consumer Products acquired ayurvedic beauty brand Pahadi Local and Marico picked up a stake in wellness brand Cosmix Wellness and snacking brand 4700BC.
Cycle Pure previously did not have a presence in the spiritual lifestyle products segment. While the company has brands in agarbatti and puja consumables such as oil and wicks, categories such as rudraksha beads, jewellery and decorative accessories remained outside its portfolio.
“This is one segment where we were not present,” Ranga said. “Satvik fills that gap beautifully with its range of authentic, lifestyle-oriented spiritual products.”
Northern access
Satvik works with over 500 artisans across northern India, sourcing products such as idols, puja accessories and gemstones. The partnership with Satvik is expected to help Cycle Pure expand its product offering while also gaining access to sourcing networks in north India.
“From a supply standpoint, we did not have access to many of these products. Satvik brings that capability, along with a strong focus on authenticity,” Ranga said.
Satvik reported total income of ₹21.09 crore for FY25, a 17% increase, while profit after tax rose 10% to ₹50.35 lakh, according to filings with the ministry of corporate affairs.
N. Ranga Rao & Sons reported a revenue of ₹1,199.1 crore in FY25, an increase of 4.5%, while net profit rose 10.8% to ₹43.2 crore, according to data platform Tracxn.
Cycle Pure is also looking to make spiritual products more relevant to younger consumers by blending tradition with contemporary design. This includes modern pendants, bracelets and gemstone-based accessories that combine spirituality with fashion.
“There is a perception that younger consumers are moving away from tradition, but that’s not true as they are looking for convenience and relevance,” Ranga said, adding that the company is developing product lines tailored for Gen Z and younger audiences.
While Satvik will operate independently, Cycle plans to leverage its distribution strength to scale up the business across channels. The company has a wide offline network spanning thousands of distributors and retail outlets across the country.
At the same time, it is betting on digital channels, including quick commerce, to drive growth. Ranga said there is rising demand for last-minute and festival-led purchases on such platforms.
“For our category, quick commerce works very well for impulse and festival-driven consumption,” he said, citing products such as Ganesha idols and puja kits that are often bought at short notice.
Quick commerce
The company is experimenting with platform-specific innovations, launching festival-led and occasion-specific products such as eco-friendly Ganesha idols and limited-edition incense variants tailored for quick commerce. Though the contribution of quick commerce remains small at present, the company expects the channel to scale up rapidly.
“What modern trade achieved in 15 years, quick commerce has reached in just three,” Ranga said, adding that the platform is increasingly becoming a discovery channel for consumers.
Cycle Pure said it will adopt an omnichannel approach, with Satvik predominantly remaining online while select products expand offline through general trade and modern retail. The company is exploring experiential formats rather than traditional stores to showcase premium spiritual lifestyle products.
“Retail will be more about experience than just transactions,” Ranga said, adding that the company is evaluating setting up experience centres in key metros.
