Date: October 30, 2026

Financial Performance Summary

Q2 FY27 Results (YoY Comparison)

  • Income from operations: ₹5,409.5 million (25.9% increase over Q2 FY26)
  • Operating EBITDA: ₹129.0 million (compared to ₹229.0 million in Q2 FY26)
  • PAT: ₹(25.0) million (compared to ₹46.4 million in Q2 FY26)
  • Cash Profit: ₹139.7 million (compared to ₹211.8 million in Q2 FY26)
  • Cash EPS: ₹5.84 (compared to ₹8.86 in Q2 FY26)

H1 FY27 Results (YoY Comparison)

  • Income from operations: ₹10,313.8 million (23.0% increase over H1 FY26)
  • Operating EBITDA: ₹319.5 million (compared to ₹409.1 million in H1 FY26)
  • PAT: ₹(0.3) million (compared to ₹53.3 million in H1 FY26)
  • Cash Profit: ₹327.7 million (compared to ₹390.2 million in H1 FY26)
  • Cash EPS: ₹13.69 (compared to ₹16.33 in H1 FY26)

Performance Drivers

Revenue Growth Drivers:

  • Quarterly revenues surpassed ₹500 crore milestone for the first time in company history
  • 10% sequential growth from preceding quarter
  • Healthy momentum in Namkeen and Potato Chips portfolios
  • Encouraging consumer response to recently launched products
  • Greater efficacy of distribution network
  • Investments in technology including Sales Force Automation contributing to improved sales productivity
  • Channel diversification benefiting from quick commerce and modern trade development

Profitability Challenges:

  • Elevated input costs, particularly palm oil and packaging laminates
  • Increased fuel and logistics costs
  • Operating margin pressure despite revenue growth

Cost Management Measures

  • Calibrated grammage rationalization
  • Selective adjustments to channel margins and trade schemes
  • Continued cost optimization across operations
  • These measures helping offset meaningful part of inflationary impact

Expansion and Capital Expenditure

  • Completed acquisition of RLOP which holds leasehold rights for greenfield manufacturing facility near Indore
  • Initiated process to merge RLOP into PSL to simplify corporate structure
  • Commenced site development activities including preparatory work
  • Civil construction to follow preparatory work
  • Procurement of plant and machinery to proceed simultaneously, especially items requiring longer lead time
  • Facility expected to enhance manufacturing efficiency, optimize operating costs, and support next phase of growth

Management Commentary

Mr. Amit Kumat, MD, stated: "We remain confident of delivering strong double-digit revenue growth in FY27, supported by sustained momentum in our core categories, distribution expansion, product innovation and growing participation across alternate channels."

Business Overview

  • Leading Indian Snacks Food Company
  • Products across categories: Potato Chips, Extruded Snacks, Namkeen, and Cakes
  • Brands: Yellow Diamond and Avadh
  • Presence across 27 states and 4 union territories in India
  • 13 manufacturing facilities (6 owned, 7 contract manufacturing)
  • Distribution network includes more than 5,000 super/sub distributors
  • Equal spread across metro cities, urban clusters, rural areas, and Tier 2/3 cities
  • Building presence in modern trade outlets and quick commerce platforms