‘My father earned 10 rupees a day.' : iD Fresh Food CEO Musthafa reveals how he helped family during poverty

Forget rags-to-riches, Musthafa's story is one of dust-to-dosa empires. The CEO of iD Fresh Food, a company boasting a staggering Rs 2,000 crore valuation, didn't inherit silver spoons; he learned the taste of hard work from tilling the soil at just ten.

In a podcast session with Siddhartha Ahluwalia, the host of ‘The Neon Show’ podcast, Musthafa PC, the founder & CEO of packaged food giant iD Fresh Food revealed that his father earned a meagre income of just Rs 10 every day, barely enough to fill empty stomachs. 

“My father earned 10 rupees a day when I was eight years old,” he told Ahluwalia in the show. But young Musthafa wasn't one to be defeated by circumstance. He toiled alongside his father, the sun scorching his back and the earth hardening his hands. “When my father was earning Rs 50 every day, I used to earn Rs 10 along with him,” he revealed.

Musthafa's childhood was a tapestry woven from the threads of hardship. He knew the sting of poverty and the ache of responsibility from an early age. Additionally, he shared that during his formative years, he and his siblings undertook various odd jobs to contribute to the family's financial well-being. Tasks such as collecting firewood became part of his routine, and by the age of 10, he had already started assisting his father as a farmhand.

While most kids his age dreamt of toys, 10-year-old Musthafa dreamt of financial security for his family. With a piggy bank overflowing with Rs 150, he didn't blow it on candy; he bought a goat. Not just any goat, mind you, but the first official asset of the family.

He further said that he nurtured his goat herd. Three goats became four, and soon, a cow joined the family menagerie, Musthafa told Ahluwalia. That’s how they could afford three meals every day. “We were able to eat three meals a day. Because the milk from the cow was regulating for the family,” he revealed.

Hailing from Chennalode, a humble village in Kerala's Wayanad district, Musthafa's early years were marked by financial struggles in a family dependent on daily wage labor. Undeterred by the challenges, he resolved to break free from the cycle of poverty, emphasizing his education.

Musthafa got a degree in computer science from the National Institute Of Technology, Calicut, and gained professional experience at Motorola before joining Citibank in Dubai.

Returning to India, he pursued an MBA at the esteemed Indian Institute Of Management, Bangalore. During his time at IIM Bangalore, Musthafa, in collaboration with his cousins, embarked on a venture to manufacture dosa and idli batter. The inception of ID Fresh in 2005 was modest, backed by a seed capital of just Rs 50,000. Post-MBA, Musthafa assumed the role of CEO, steering the company's early days when sales amounted to a mere 10 packets of batter daily.

Today, ID Fresh stands as a culinary giant in the homemade food industry, boasting an impressive annual profit of Rs 479 crore.

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