We tried to find an answer to the fact that how temples make money with cut hairs which are a part of ritual undertaken by the devotees. Radix Industries BSE code 531412 is into the business of buying the cut hairs from these temples.
It is worthwhile to mention here that human hair sells for as much as 50 Lakh Rs per tonne. Industry size is roughly 2500 Crores and the below video is a must watch to understand the magnitude of the business and post that one can understand if Radix Industries is worth buying or not.
In 2011-12, the Tirumala temple earned nearly Rs 200 crore out of its total revenue of Rs 1,949 crore, from auctioning human hair.
According to L.V. Subrahmanyam, executive officer of the Tirumala Tirupati Devasthanams (TTD) that manages the temple affairs, the projected revenue for 2012-13 from auctioning hair is around Rs150 crore, but going by the ever-increasing number of pilgrims flooding the temple, it is expected to surpass last year's.
Below video shows that TTD sells human hair for Rs 77 crore and this is just a tip of the iceberg as business opportunity is 2500 Crores. Remember to subscribe for our free share market tips and make money like professionals.