Corporate Report     

Published: September 30, 2025
Updated: September 30, 2025

Shree Vallabh Group of Companies

Growing from strength to strength: From fledgling unit to Global Brand

In 1968, 16-year-old Shantilal, born and brought up in a small village of Rajasthan, landed in Mumbai with the dream of earning and sending money home to his family as well as building a career. Most youths of that age are generally vulnerable, innocent and immature. But Shantilal was a determined young lad, and decided to try his fortune in Mumbai’s stainless steel market. However, he realised soon enough he had neither a thorough knowledge of the chosen market nor anyone to give him the initial support.

In the crowded lanes of Mumbai, he started working hard to achieve his goals of providing for his family. Times were tough, and he had to struggle a lot to establish himself in the stainless steel market, which was then dominated by family-owned partnership firms. However, his unwavering faith in Lord Shiva and his tremendous self-confidence kept him on track. As he recalls, “Not even once did I think of giving up and returning to my native place in Rajasthan.”

The first seven years – from 1968 to 1974 went into learning the ropes and building relationships with manufacturers, traders and brokers – the backbone of the stainless steel industry. The turning point came in 1975 when he started manufacturing kitchenware, albeit on a contract basis. The first brand he launched was ‘Neelkanth’ (denoting Lord Shiva).

His focus on quality stood him in good stead as he started making profit, despite having limited working capital. Subsequently, his brother Bharat Jain joined him to expand and strengthen the family business.

OWN UNIT

From 1991 onwards, the Indian economy started opening up following the reforms initiated by the then Finance Minister Dr Manmohan Singh. Shantilal thought it was the right time to start his own manufacturing unit as the business had grown and new opportunities beckoned. Hence, during FY 1992-93, he started his own unit at Bhayander – a distant western suburb of Mumbai. This initiative enabled ‘Shree Vallabh Metals’, the group’s flagship company, to accelerate its pace of growth. Using its own R&D, the company started adding new products and modified existing ones. Exports to the Middle East started in 1992-93, leading to a robust increase in revenue supported by an attractive EBITDA margin and favourable payment terms vis-à-vis the domestic business.

The second generation of the family has now taken over the reins of the group. Brothers Bhavesh (45), Dhaval (40) and Bhavik (29) are deeply involved in the day-to-day operations. Bhavesh started assisting father Shantilalbhai and uncle Bharatbhai at the tender age of 16 while simultaneously pursuing his studies. All three brothers are known for their unity, transparency, division of work, respect for one another and the common goal of taking the group to the next level of growth. In 2010, the brothers decided to launch the ‘Max Fresh’ brand for the new-gen global and local market. Today, the brand is sold in 90 countries worldwide. The brand comes under group company Bhavya International and is marketed as a premium kitchenware brand.

GLOBAL RECALL

Today, the group has global recall as a brand to reckon with, and has made a sizeable investment in automation, cutting-edge design and new varieties developing new products. As Bhavesh notes, “The foundation of trust has already been laid. Our job is to build a future on top of it with both the right strategy and speed. Many legacy brands have failed, especially during the shift of generations, but — touch wood — we are fortunate that we have flourished because of farsightedness and keeping our moral values intact.”

Apart from India, the ‘Max Fresh’ brand is well-known in the US, the UAE, Saudi Arabia, the UK, Canada, Australia, New Zealand and Nepal. The group participates actively in domestic and international exhibitions, and also focuses on the gifting, tender and e-commerce verticals. Says Bhavesh, “We did a meticulous market survey and concluded that we need to enter all these three new verticals as early as possible, because they offer immense opportunities for us to exploit the fame of the ‘Max Fresh’ brand. I am delighted to share that these new avenues and the upcoming new manufacturing unit will facilitate our group reaching the Rs 500-crore revenue mark in the next three years. I dream of Indian kitchenware establishing itself as the world’s best, not just in quality but also in innovation and value for money.”

Apart from a manufacturing unit at Bhayander, the group has three other units at Palghar. The combined capacity is over 3 lakh pieces per month. To cater to the enhanced demand and execute the planned growth strategy, the group is coming up with an ultra-modern factory spanning 3.75 acres of land at Palghar. The management has planned to merge two of its three existing units at Palghar with the new one. This would be set up under Max Fresh World India Pvt Ltd. It has also built a new six-storeyed corporate headquarters at Bhayander to which it will shift in January 2026. Currently, the major companies of the group are Shree Vallabh Metals, Bhavya International, Max Fresh World India Pvt Ltd, and Max Fresh Finserve Pvt Ltd.

The group is now gearing to manufacture pressure cookers in their new plant. With a CAGR of 6.8%, the pressure cooker market in India is estimated to reach $ 1.54 billion by 2030. Says an enthusiastic Bhavesh, “Pressure cooker revenue will become our growth driver and open up new dimensions.”

MARKET SIZE

As per a report, in 2024 the Indian kitchenware market was estimated at Rs 7,500 crore, with the potential to cross Rs 10,000-crore mark very soon. Some other reports have projected the Indian kitchenware market to reach over $ 10 billion by 2033 at a CAGR of 8.5%. This growth will be driven mainly by increased urbanisation, rising disposable incomes, growing health consciousness and evolving consumer lifestyles, leading to demand for both premium and smart kitchen solutions. Direct access to up-to-date information through the TV-telephony-internet media is creating mass awareness and boosting the demand for durable, stylish and multifunctional kitchenware. Further, consumers are also increasingly shifting from generic products to premium, aesthetically pleasing kitchenware to enhance their cooking experience.

Notes Shantilalbhai, “Of course, there is competition in the domestic market but every player has enough room to grow in line with its capability and risk appetite. However, it is a matter of concern and disappointment when our own local players compete ruthlessly against each other in the export market. Healthy competition is always good and desirable. China is already there in the race. However, I feel our own people should try to avoid undercutting each other in the export market.” Recently, the group celebrated the golden jubilee of its flagship company Shree Vallabh Metals at Lonavala, when over 300 distributors and retailers from across the country participated and extended their full support to the group. They also unanimously opined that the ‘Max Fresh’ brand has enormous growth potential and a very bright future, largely due to the management’s total involvement, superior quality and competitive price. Needless to say, the Rs 500-crore revenue mark in the next three years will be a reality.

Despite all the success he has achieved in his business journey, Shantilalbhai (73) concludes modestly, with glint in his eyes, “All of this has been given to us by Lord Shiva. Being the head of our family, I am merely a caretaker, and certainly not the owner.”