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Naturals Ice Cream — Rotating Flavors With the Season's Fruit

2026.03.26

Article summary

Naturals Ice Cream is an ice cream brand that started in February 1984 from a roughly 200 square foot shop in Juhu Koliwada, Mumbai. Founder Raghunandan Srinivas Kamath was born into a family that sold mangoes in Mangalore, Karnataka; he died in May 2024 at the age of 70, and the next generation took over management. The company says it uses only fruit, sugar and milk, with no artificial flavors or preservatives. It uses fruit grown in India such as sitaphal, tender coconut, jackfruit, muskmelon and kala jamun, rotating flavors with the seasons. More than 20 flavors are available at any time, and tender coconut was named to Taste Atlas's world top 100 ice creams. Revenue for FY2024 (fiscal year ended March 2024) was ₹374 crore (1 crore = 10 million rupees), with net profit of ₹45 crore.

This article is based on what we could verify As of September 19, 2026 This page is based on the disclosures and news reports from each company that we were able to confirm as of that date. Amounts in the text follow the notation commonly used in India, with ₹1 crore = 10 million rupees, and yen figures are approximations calculated at a little over 1.7 yen to the rupee. Store counts, funding raised, and results at Indian companies change over short periods, so when making a business decision, please check the latest information in primary sources such as each company's own announcements.

Naturals Ice Cream is a Mumbai brand that makes ice cream with only fruit, sugar, and milk. In the 40 years since it was founded in 1984, it has widened its presence with flavors made from fruits native to India.

Company profile

Item	Details
Founded	1984 (Juhu, Mumbai)
Founder	Raghunandan Srinivas Kamath (died May 2024 at 70; the next generation took over)
Revenue	₹374 crore (FY2024 = fiscal year ended March 2024), net profit ₹45 crore
Production base	Charkop (Mumbai)
Ingredients	Only fruit, sugar, and milk (says it uses no artificial flavoring or preservatives)
Products	Always more than 20 flavors
Awards	Tender coconut flavor named to Taste Atlas's world top 100 ice creams

A production approach built around the season

Sitaphal (custard apple), tender coconut, jackfruit, muskmelon, black jamun (Java plum). All are fruits grown in India, each with its own season. Since the fruit is used as-is, some flavors can only be made during that particular time of year.

A typical ice cream maker sources fruit puree or concentrate year-round and offers the same lineup all year. Naturals does the opposite, rotating flavors to match the season's fruit. Rather than smoothing things out with inventory, it builds its production around the season.

This is inefficient. Production planning is hard, and a popular flavor is unavailable for most of the year. On the other hand, the fact that it can only be eaten during that particular time draws people in. It became a Mumbai institution because of this structure.

Started by a mango seller's son

Founder Raghunandan Srinivas Kamath was born into a family that sold mangoes in Mangalore, Karnataka. His eye for judging fruit, developed growing up, became the foundation of this business.

It started in February 1984 from a roughly 200 square foot shop in Juhu Koliwada, Mumbai (production is now in Charkop). What set it apart was making ice cream from fruit, sugar and milk alone, with no artificial flavors or preservatives. Revenue for FY2024 (fiscal year ended March 2024) was ₹374 crore, with net profit of ₹45 crore. Kamath died in May 2024 at the age of 70, and the next generation now runs the business.

Points for Japanese companies

For anyone wanting to use Indian fruit in Japan, this is a company that knows what's harvested and when. Sitaphal and jackfruit have limited distribution in Japan, but there may be potential for them as processed products.

Also, rotating the lineup with the season is close to an approach Japanese regional confectioners and dairies have long taken. It's an example showing that even in urban India, offering a seasonal product can be chosen over the same lineup year-round.