At MDPH, we’re excited to share an insightful case study recently published by Ivey Publishing, authored by the esteemed Professor Tulsi Jayakumar from the S.P. Jain Institute of Management and Research. This study delves into the heart of our second-generation family business, shedding light on the challenges and triumphs we’ve encountered along the way.

Led by our visionary founder, Mr. Prakash Agarwal, and his sons, Mr. Ankit Agrawal and Mr. Anshul Agrawal, MDPH has forged a path of success in the incense stick market, carving out a substantial domestic market share through competitive pricing and extensive distribution channels. As we set our sights on achieving a ₹10 billion turnover by 2026, we’ve faced critical decisions regarding the future direction of our business.

The case study presents a comprehensive analysis of our industry landscape, evaluating its attractiveness and identifying sources of competitive advantage – the ‘moats’ that fortify our business against market forces. It explores the strategic crossroads we’ve encountered, weighing the merits of expanding our core business versus diversifying into new product lines, such as home fragrances or personal care products.

Through the insightful case study, students gain valuable insights into the complex interplay between family dynamics and business strategy within a family-owned enterprise like ours. They’re challenged to evaluate growth strategies, understanding the implications for both economic and non-economic family goals.

We strongly believe that the case study has not only enriched academic discourse but has also inspired us to continue leveraging our brand equity and distribution networks while staying true to our values.

At MDPH, the journey towards growth and success never ends, and we’re excited to write the next chapter together.