Prataap Snacks (PSL), an Indian snacks food company reported anet profit Rs 21.61 crore for the quarter and financial year ended 31st March 2023.
The company’s income from operations grew by 11 per cent year-on-year (YoY) for the year gone by at Rs. 397.91 crore.
The company ended FY23 with sales of Rs. 1641.71 crore, higher by 19 per cent YoY. The brand said that this has been achieved by expansion of its average distribution reach by nearly 1.6 lakh outlets over the last financial year to 21.8 lakh outlets across the country.
“The silver lining has been the improvement in EBITDA margin (adjusted for PLI reversal). Adjusted EBITDA of Rs. 301.9 million in Q4 FY23 was higher by 511% YoY and the margin has improved by 620 basis points from 1.4% in Q4FY22 to 7.6% in Q4FY23, which is the highest in the last 12 quarters. This improvement has been driven by our compressed distribution structure, cost optimization measures and cooling of input prices, setting the tone for an improved margin performance in the next fiscal year,” said Amit Kumat – MD, Prataap Snacks said.
He added, “We are optimistic of continuing the pace of revenue growth in the backdrop of increasing economic activity coupled with slowing inflation, which should combine to serve up a favourable backdrop for consumer demand in the year ahead.”
