How a Surat Warehouse Fire Forged a Rs. 100 Crore Brand on a Mission to Make India Protein-Sufficient

2016 to 2020: Building a Category Before Building a Brand 

Founded in Surat in 2016 by six friends, Alpino Health Foods was built on a simple observation. India, particularly Gujarat’s Junagadh region, is one of the world’s largest producers of peanuts, yet much of the crop was exported or processed into peanut oil and peanut butter for international markets. At the same time, peanut butter was virtually unknown in Indian households, and nearly all of the peanut butter manufactured in India was destined for export.

The founders saw an opportunity where few others did. There were only a handful of peanut butter brands in the country, consumer awareness was minimal, and there was virtually no domestic market. Alpino entered the category with one of India’s earliest all-natural peanut butters, made without palm oil or unnecessary additives.

Building the business meant first building the category. Rather than simply selling a product, the company invested in educating consumers through sampling campaigns, digital content, and awareness initiatives that highlighted the role of protein in everyday nutrition. The effort was as much about changing eating habits as it was about growing sales.

Those early years also shaped the company’s long-term mission. The founders believed India’s protein gap was not simply a result of dietary preferences, but of limited access to clean, affordable, and familiar sources of protein. That belief continues to guide Alpino’s goal of making India a protein-sufficient nation.

2021: National Recognition Through Shark Tank India

Alpino entered the national spotlight in 2021 when it became the first peanut butter brand to appear on Shark Tank India.

The founders received an all-shark investment offer but chose not to accept it, believing the business was worth more than the terms being offered. The decision attracted attention across the startup ecosystem and became one of the most discussed moments of the show’s first season.

Investor Anupam Mittal had remarked during the episode that once the company reached ₹100 crore in revenue, disagreements among the founders would be inevitable. The prediction did not come true. Years later, after crossing the ₹100 crore milestone, all six founders continue to remain equal partners in the business.

Although the company left the show without an investment, it gained nationwide visibility and significantly increased consumer awareness. The appearance helped establish Alpino as one of the most recognisable brands to emerge from the inaugural season of Shark Tank India and accelerated its growth in the years that followed.

2023: The Fire That Changed the Business 

And then, in early 2023, came the worst day of our journey.

Every brand has a turning point. For Alpino, it arrived in the form of a warehouse fire.

In February 2023, a fire tore through the company’s Surat warehouse, destroying over 1,00,000 units and nearly ₹2 crore worth of inventory. Operations came to a halt for almost 2.5 months, sales fell by nearly 90%, and for a brief moment, the founders considered shutting the business down.

Employees were even encouraged to look for other opportunities while the company assessed its next steps.

But adversity has a way of forcing clarity. Instead of simply replacing what was lost, the founders used the setback to rethink, refine, and rebuild. Internally, this new chapter became known as Alpino 2.0 allowing them to bounce back. They rebuilt the brand from scratch as Alpino 2.0, and with product innovation, and the work that led to India’s first peanut protein isolate powder.

The mission remained unchanged: to make India protein-sufficient. If anything, the fire only strengthened the conviction behind it.

2024: Alpino 2.0 Takes Off 

FY 2023-24 became the first full year of Alpino 2.0.

The company crossed ₹20 crore in revenue, demonstrating that its focused strategy was working.

During the year, actor and entrepreneur Shilpa Shetty joined the brand, while Alpino accelerated its presence across e-commerce, quick commerce, and organised retail.

2025: From Comeback to Momentum 

FY 2024-25 saw Alpino double its revenue to ₹40 crore.

The company also moved from an ₹8 crore net loss to net profitability, supported by disciplined execution, wider distribution, and growing consumer demand for protein-rich foods.

Years spent educating Indian consumers about peanut butter and protein nutrition were beginning to translate into category growth.

2026: A Decade of Alpino. A ₹100 crore brand

As Alpino completed 10 years, it crossed ₹100 crore in net revenue for FY 2025–26.

The company also opened its first Alpino Protein Café in Surat, serving protein-rich meals including bowls, wraps and smoothies.

During the same year, Alpino entered performance nutrition with the launch of Alpino SuperONE, a range built around absorption-first formulations for athletes and high-performance consumers.

What began as a peanut butter company had evolved into a broader nutrition business spanning everyday health and performance nutrition.

The number that matters more than ₹100 crore

Alpino estimates that its products have reached more than 1.2 crore consumers across India.

For the founders, however, the larger opportunity lies ahead.

India’s health food market continues to expand rapidly, while millions of consumers still fall short of their daily protein requirements. Alpino believes that closing this gap, not revenue milestones will define the company’s long-term success.

After rebuilding from one of the most difficult periods in its history, the company is now focused on scaling its mission of making protein more accessible, affordable, and familiar for Indian consumers.

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