Fourth largest biscuits brand in India with strong brand recall and an established market position in Eastern India
Diversified and expanding product portfolio with multiple high performing brands, offering a strong consumer value
proposition
Extensive and scalable distribution network supported by marketing capabilities enabling deep market penetration
Strategically located, technology enabled manufacturing facilities and strong procurement capabilities driving product
quality and operational efficiency
Comprehensive technology ecosystem supporting production planning, inventory management and distribution
operations
Strong financial and operational performance
Experienced promoters and senior management team having deep industry expertise in packaged foods.
We have historically derived a significant portion of our revenue from the sale of products in the biscuits and
cookies category (constituting 93.74%, 94.82% and 94.24% of our revenue from sale of products in Fiscals 2026,
2025 and 2024, respectively). Our inability to anticipate and adapt to evolving consumer tastes and preferences in
the biscuits and cookies category may impact demand for these products, which in turn could adversely affect our
business, results of operations, financial condition and cash flows.
We derive a significant portion of our revenue from sale of products from our core markets (contributed 67.70%,
67.53% and 65.94% of our revenue from sale of products in Fiscals 2026, 2025 and 2024, respectively). Any
unfavourable developments affecting our operations in this market could have an adverse effect on our business,
results of operations, financial condition and cash flows.
The reputation and consumer goodwill associated with our brands are critical for the success of our business. An
inability to maintain or enhance the popularity of our brands may adversely affect our reputation and business
prospects.
Changes in channel mix and increasing adoption of modern trade, e-commerce and quick commerce platforms
may expose us to differing cost structures and pricing pressures, which could adversely affect our sales, margins
and distribution strategy.
Our operations are subject to volatility in the prices and availability of our raw materials and packing materials,
and our cost of materials consumed accounted for 64.48%, 70.80% and 61.40% of our revenue from operations in
Fiscals 2026, 2025 and 2024, respectively. Any adverse changes in such prices or availability may affect our cost of
production and consequently, our business, results of operations, financial condition and cash flows.
Our operations are subject to extensive food safety, packing, health, safety, employment, environmental and allied
regulations. Any failure to comply with, or changes in, such regulations could adversely affect our business, results
of operations, financial condition and cash flows.
Any contamination, adulteration, cross-contamination, spoilage, deterioration, mislabelling or improper
processing, storage or handling of our products or raw materials, whether actual or perceived, could subject us to
statutory or regulatory action and damage our reputation.
We are dependent on key suppliers for critical raw materials and packing inputs, with our top 10 suppliers
accounting for 33.88%, 37.11% and 35.77% of our total purchases in Fiscals 2026, 2025 and 2024, respectively.
Any disruption in the supply, quality, pricing or procurement terms of such inputs could adversely affect our
production, results of operations, financial condition and cash flows.
Our manufacturing and depot operations are subject to various operational risks, and any significant disruption
may adversely affect our production capabilities and delay supplies to our distribution network.
While our revenue from operations has increased from Rs.14,228.95 million in Fiscal 2024 to Rs.16,409.00 million in
Fiscal 2025, our profit for the year declined from Rs.1,262.13 million in Fiscal 2024 to Rs.381.20 million in Fiscal
2025. We may not be able to sustain our revenue growth or maintain or improve our profitability, which could have
an adverse effect on our business, results of operations and financial condition.
