02
Where does it go?
Every rupee, sliced.
Hover a slice for the source. Every line is dated, sourced, and rated for confidence.
hover a slice to inspect
Item
%
₹
Origin
Confidence
Malt extract / malted barley
14%
—
🇬🇧 GB
Medium confidence T2
Sugar
14%
—
🇮🇳 India
High confidence T1
Retailer + distributor margin
13%
—
🇮🇳 India
Medium confidence T3
Packaging
11%
—
🇮🇳 India
Medium confidence T3
Advertising
11%
—
🇮🇳 India
Medium confidence T3
Skim milk powder / whey protein
8%
—
🌍 NZ
Medium confidence T2
Manufacturing
8%
—
🇮🇳 India
Medium confidence T3
Brand margin
8%
—
🇮🇳 India
Medium confidence T3
Brand's profit
8%
—
🇳🇱 NL
Medium confidence T3
Distribution & logistics
7%
—
🇮🇳 India
Medium confidence T3
Cocoa solids / chocolate powder
5%
—
🌍 CI
Medium confidence T2
GST (5%)
5%
—
Tax · India
High confidence T1
Vitamins & minerals premix
2%
—
🇨🇳 CN
Medium confidence T2
03
The catch
The 18% that didn't stay home.
5%
Malt extract / malted barley
🇬🇧United Kingdom · 25%
Horlicks malt historically UK-sourced; production shifted partly to India.
4%
Cocoa solids / chocolate powder
🏳️Ivory Coast · 45%🏳️Ghana · 30%
World's largest cocoa producer. Bournvita and chocolate variants.
2%
Skim milk powder / whey protein
🏳️New Zealand · 25%
Fonterra SMP for premium/consistent quality.
2%
Vitamins & minerals premix
🇨🇳China · 60%🇩🇪Germany · 25%
China dominates global vitamin manufacturing (B-vitamins, Vitamin C).
6%
Brand's profit
🇳🇱Netherlands · 45%🇺🇸United States · 35%
Horlicks + Boost owned by HUL, parent Unilever NV.
04
How we know
The receipts.
Every number is sourced and tiered. We grade our own confidence so you don't have to take our word for it.
How much is hard-sourced
42% Tier 1–242% of this breakdown rests on hard data — GST schedule, live mandi prices, trade + filings. The rest is a category-typical estimate from an unreviewed draft template — treat it as directional, not gospel.
TIER 12
Hard government data
GST notifications, import data, tariffs
TIER 22
Verified industry
Company filings, audited reports
TIER 30
Modelled estimate
Industry benchmarks + ratios
TIER 40
Honest guess
Best informed estimate; flagged as such
Sources used for this product
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