Financial Performance - Q1 FY27 vs Q1 FY26

Revenue & Costs:

  • Consolidated Revenue from Operations: INR 428.1 Cr (15% increase from INR 372.1 Cr in Q1 FY26)
  • Material Costs (RM & PM): INR 275.0 Cr (14% increase from INR 240.3 Cr)
  • Employee Expenses (excluding ESOP): INR 39.8 Cr (12% increase from INR 35.5 Cr)
  • Advertisement and Promotion Expenses: INR 20.2 Cr (12% decrease from INR 22.9 Cr)
  • Other Expenses (excluding one-time): INR 63.2 Cr (10% increase from INR 57.6 Cr)

Profitability Metrics:

  • EBITDA (excluding ESOP and one-time costs): INR 30.0 Cr (88.7% increase from INR 15.9 Cr)
  • EBITDA Margin: 7.0% (improved from 4.3%)
  • Depreciation & Amortisation: INR 8.3 Cr (3% decrease from INR 8.6 Cr)
  • Finance Cost: INR 0.6 Cr (54% increase from INR 0.4 Cr)
  • Other Income: INR (1.0) Cr
  • Profit Before ESOP and one-time expenses: INR 22.1 Cr
  • ESOP and One-time expenses: INR 5.0 Cr
  • Profit Before Tax: INR 17.2 Cr

Balance Sheet Position (as on 30th June 2026):

  • Net Worth: INR 1496 Cr
  • Free Cash balance: INR 40 Cr
  • Borrowings: INR 16 Cr

Business Segment Performance

Popcorn Business:

  • #1 Player in both Ready to Eat (RTE) and Ready to Cook (RTC) Formats
  • 18% growth with strong performance in both formats
  • RTC growth driven by Rs 10 packs and larger pack sizes
  • RTE growth driven by distribution-led penetration and premiumization
  • New launches: Coffee caramel popcorn, Chocolate Tuxedo Popcorn Tin

Premium Staples:

  • Edible Oil category value growth 16%, volume growth 7%
  • Launch of Sundrop Heart jodi pack
  • Expansion of Sundrop Heart portfolio with Oats in Ecommerce and Modern Trade

Spreads:

  • Decline moderated from -10% in Q4 FY26 to -3% in Q1 FY27
  • E-commerce/Quick commerce channel delivered 16% growth
  • New variants: Chocolate, High Protein, and Jaggery

Culinary:

  • 15% value growth driven by B2B (Foodservice, Exports, Domestic Key Accounts)
  • Foodservice growth from new customer acquisition
  • Exports growth from Key Accounts in SE Asia

Italian Category:

  • 8% value growth, 15% volume growth
  • Olive oils: 8% value growth (20% volume growth), 40% Ecommerce growth
  • Pasta: 10% volume growth (22% Foodservice, 31% E-com)

Channel Performance

E-commerce:

  • Overall gross sales growth: 32% YoY
  • Quick Commerce: 35% growth
  • Hybrid Platforms: 23% growth
  • New initiatives: Breakfast Cereals and Plain Oats under Sundrop brand

General Trade:

  • Sales Force Automation covering 387k outlets (increased from 376k in Q4 FY26)
  • Bills cut in >75% of enrolled outlets
  • 375k coverage through dedicated field force on mobile app

Marketing Investments

  • A&P spends increased by 49% sequentially
  • Reclassification of visibility spends: INR 6 Cr in Q4 FY26 and INR 1.2 Cr in Q1 FY27
  • Maintained elevated marketing investments since Q4 FY25

Margin Improvement Initiatives

  • Multiple initiatives through external partners
  • Improvement in Packaging Materials, manufacturing and logistics costs
  • Gross margin expansion of 110bps in Q1 FY27 over previous year
  • One-time expenses of INR 0.2 Cr in Q1 FY27 for advisory services

Product Innovation

  • 100 new launches across Act II, Sundrop and Del Monte portfolios in last 24 months
  • Contribution of ~INR 60 Cr (~4% of overall sales)

ESOP Expenses

  • Employee Benefit Expenses exclude INR 4.8 Cr charge in Q1 FY27 (INR 1.5 Cr in Q1 FY26) for ESOPs

Forward-looking Statements

Document contains standard safe harbor language regarding forward-looking statements subject to risks and uncertainties including business strategy execution, economic conditions, competition, currency fluctuations, and regulatory changes.