Gopal Snacks Limited – Investor Presentation Summary

Key Operational Highlights

  • Revenue from Operations: ₹461.5 Cr in Q2 FY2027 (22.9% YoY growth)
  • EBITDA: ₹41.6 Cr in Q2 FY2027 (72.3% YoY growth)
  • EBITDA Margin: 9.0% in Q2 FY2027 (up from 6.4% YoY)
  • Distribution Network: 1,057 distributors (excluding 150 Micro distributors under SS/SSD model)
  • Installed Capacity: Total 4,13,796 MTPA across all facilities
  • Capacity Utilization: Varies by product category (Besan 70%, Wafers 60%, Snack Pellets 41%, Gathiya 36%, Namkeen 23%, Extruded Snacks 27%, Papad 18%, Spices 11%)

Key drivers of operational performance: Recommencement of Rajkot Main facility operations in Q1 FY2027, production consolidation from Gondal to Rajkot, commissioning of new Besan manufacturing unit at Nagpur, expanded distribution network, and improved manufacturing efficiency.

Segment-wise Performance

  • Gathiya: 28% revenue contribution in H1 FY2027, 25.6% YoY growth in Q2 FY2027
  • Namkeen: 23% revenue contribution in H1 FY2027
  • Snack Pellets: 16% revenue contribution in H1 FY2027
  • Wafers: 12% revenue contribution in H1 FY2027, 40.0% YoY growth in Q2 FY2027
  • Extruded Snacks: 2% revenue contribution in H1 FY2027
  • Papad: 2% revenue contribution in H1 FY2027
  • Besan: 6% revenue contribution in H1 FY2027
  • Spices: 1% revenue contribution in H1 FY2027
  • Other Products: 5% revenue contribution in H1 FY2027

Explanation of significant changes in segment performance: Growth in Gathiya segment driven by 25.6% YoY increase in sales, Wafers segment showing strong 40.0% YoY growth, and Pellets & Extruded Snacks growing by 23.0% YoY in Q2 FY2027.

Financial Highlights

Revenue: ₹461.5 Cr (Q2 FY2027), ₹883.9 Cr (H1 FY2027)

EBITDA: ₹41.6 Cr (Q2 FY2027), ₹73.1 Cr (H1 FY2027)

PAT: ₹45.9 Cr (Q2 FY2027), ₹58.7 Cr (H1 FY2027)

EPS: ₹3.7 per share (Q2 FY2027), ₹4.7 per share (H1 FY2027)

Margins: Gross Profit Margin 27.1% (Q2 FY2027), EBITDA Margin 9.0% (Q2 FY2027), PAT Margin 9.9% (Q2 FY2027)

YoY/QoQ comparison: Q2 FY2027 Revenue grew 22.9% YoY and 9.3% QoQ; EBITDA grew 72.3% YoY and 32.2% QoQ; PAT grew 78.5% YoY and 257.0% QoQ

Drivers of financial performance: Higher revenue growth, improved manufacturing efficiency, disciplined cost management, and exceptional gain of ₹35.3 Cr from insurance claim settlement

Key Risks: Commodity inflationary environment mentioned as ongoing challenge

Geographical Revenue Split

Domestic vs Export/Regional Revenue: Focus Market states (Chhattisgarh, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh) contributed 25.8% of sales in H1 FY2027, up from 22.7% in FY2024. Other States (Delhi, Bihar, Goa, Jharkhand, Karnataka, Odisha, Telangana, Uttarakhand, Haryana, Dadra and Nagar Haveli, Daman and Diu, Andhra Pradesh, West Bengal) also showed increased contribution.

Balance Sheet Snapshot

Net Debt/Equity: Net Debt ₹144.9 Cr (H1 FY2027), Total Equity ₹537.6 Cr (H1 FY2027)

Reserves: Not specified

Current Assets/Liabilities: Inventories ₹208.8 Cr, Trade Receivables ₹46.5 Cr, Other Assets ₹121.2 Cr, Trade Payables ₹20.2 Cr, Other Liabilities ₹63.1 Cr

Working Capital/Leverage Metrics: Total Debt ₹145.4 Cr (H1 FY2027), Debt/Equity 0.27x (H1 FY2027)

Financial Health Insights: Property, plant & equipment valued at ₹389.2 Cr, Cash and Bank Balances ₹0.5 Cr, Total Assets ₹766.3 Cr

Capex & Cash Flow Health

Capital Expenditure: Commissioned Besan manufacturing unit at Nagpur with 19,642 MT capacity

Free Cash Flow: Not specified

Operating Cash Flow: ₹42.9 Cr (H1 FY2027)

Net Debt Movement: Net Debt decreased from ₹153.0 Cr in FY2026 to ₹144.9 Cr in H1 FY2027

Investment Rationale: Focus on backward integration, reducing transportation costs, improving manufacturing efficiency, and expanding production capabilities

Strategic & R&D Initiatives

Investments in Innovation: New Besan manufacturing unit at Nagpur facility, Distribution Management System implementation, brand-building initiatives across OTT platforms, influencer collaborations, and newspaper advertising

Expected impact on growth: Besan unit expected to deliver recurring transportation cost savings and simplify material movement, strengthening backward integration

Strategic Rationale: Expanding manufacturing footprint, improving supply chain resilience, enhancing operational efficiency, and building stronger consumer connections

Industry Trends & Business Environment

Macro/Industry Trends: Commodity inflationary environment mentioned as challenge

Impact on Company: Company taking necessary steps to maintain margins while sustaining revenue growth in inflationary environment

Management Commentary & Growth Outlook

Strategic Outlook: "Q2 FY2027 is an exceptional quarter for us, with revenue growing by 23% YOY and EBITDA Margin of 9% for the quarter. Revenue and Profitability growth demonstrates strong traction of Brand with clear focus of forward journey of Profitable growth."

FY Guidance: Priorities include improving capacity utilisation, extending distribution reach, translating manufacturing efficiencies into sustained profitability

Market Share Targets: Not specified

Risks and Opportunities: Commodity inflationary environment mentioned as challenge; opportunities in wider distribution coverage and manufacturing integration

ESG Initiatives

ESG Quantitative Performance Metrics: Renewable Energy Consumed 29,898.05 GJ, Recycling Waste 3,437 MT, Re-used Waste 2 MT, GHG Intensity 0.000004745 tCO₂e/INR, Female Workforce Gender Composition 28.20%, Gross Salary to Female Employees 19.08%, Number of Trained Staff 49.48%, Independent Board of Directors 50%, Nil complaints under sexual harassment, Nil environmental/social/ethical violations, 100% familiarisation programmes training, certifications include Halal, FSSAI, FDA, APEDA