Financial Results Summary
Quarterly Performance (INR Crores):
| Metric | Q1 FY27 | Q4 FY26 | QoQ% | Q1 FY26 | YoY% |
| Sales | 422.3 | 409.6 | 3.1% | 322.2 | 31.1% |
| EBITDA | 31.5 | 31.5 | (0.2)% | 15.2 | Nm |
| EBITDA % | 7.4% | 7.7% | - | 4.7% | - |
| PBT (excl. Exceptional) | 18.6 | 22.4 | (16.8)% | 5.3 | Nm |
| PBT % | 4.4% | 5.5% | - | 1.6% | - |
| Exceptional Profit/(Loss) | 0.0 | 17.5 | nm | 0.2 | Nm |
| PAT (incl. Exceptional) | 12.8 | 29.9 | (57.1)% | 2.5 | Nm |
Key Financial Highlights
- Highest ever quarterly revenue of ₹422.3 crore, representing 31.1% YoY growth
- EBITDA more than doubled to ₹31.5 crore (7.4% of sales) from ₹15.2 crore (4.7% of sales) in Q1 FY26
- Profit Before Tax (before exceptional items) grew 3.5 times to ₹18.6 crore (4.4% of sales) from ₹5.3 crore (1.6% of sales) in Q1 FY26
- Profit After Tax stood at ₹12.8 crore with a margin of 3.0%
- Gross margin achieved 26.9% despite challenging quarter due to geopolitical tensions in Middle East
Operational Highlights
Product Category Performance (YoY Growth):
- Gathiya segment: 28.9% growth
- Wafers segment: 36.0% growth
- Pellets & Extruded Snacks: 27.5% growth
- Namkeen: 22.7% growth
Geographical Performance (YoY Growth):
- Core States: 26.6% growth
- Focus States: 36.6% growth
- Other States: 79.4% growth
Manufacturing and Capacity Updates
- Rajkot manufacturing facility recommenced operations following fire incident in December 2024
- Installed capacity: 1,05,233 MTPA
- Products manufactured: Gathiya, Namkeen, Snack Pellets, and Extruded Snacks
- Production consolidated from Gondal facility to Rajkot, expected to improve operational efficiency through lower power and fuel costs, transportation costs, and operating costs
Distribution Network
- Total distributors: 1,007 as of June 26, 2026
- Micro-distributors under SSD model: 135
- Distribution Management System (DMS) enhanced supply chain efficiency, improving visibility, inventory planning, order fulfilment, and distributor engagement
Management Commentary
Mr. Bipinbhai Hadvani, Chairman and MD, stated that Q1 FY2027 marked a significant milestone with highest-ever quarterly revenue. The company strengthened market presence through focused distribution expansion and integrated brand-building initiatives including OTT platforms, Out-of-Home advertising, vehicle branding, POSM, newspaper advertising, and participation in educational and cultural events.
Forward Outlook
Company remains focused on strengthening manufacturing network, expanding distribution footprint, enhancing brand visibility, and driving operational excellence. With Rajkot facility fully operational and growing distribution network, company is positioned to capitalize on opportunities in India's packaged snacks market.
Additional Information
Earnings Conference Call: Scheduled for Monday, August 10, 2026 at 03:00 PM IST
Universal Access Numbers: UK: 0 808 101 1573, USA: 1 866 746 2133, HK: 800 964 448, SG: 800 101 2045
India Numbers: +91 22 6280 1384, +91 22 7115 8285
Company Contact: Mr. Mayur Gangani, Head – Legal & Compliance cum Company Secretary
Investor Relations Contact: Simran Malhotra / Soham Arora at Churchgate Partners