The shares of the leading Indian Snacks Food Company surged 16 percent to ₹1,106.70 per share after the company commenced production of snacks in its new manufacturing facility in Jammu & Kashmir.
At 12:10 p.m., Prataap Snacks Ltd shares were trading at ₹960 a share, an increase of 0.75 percent from the previous closing price on the stock exchange. Prataap Snacks Ltd is a Small cap company with a market capitalization of ₹2,307 crore.
As per the company’s filing, On 26th March, the company began its commercial production at their newly established manufacturing Unit at Samba, Jammu & Kashmir. The new facility at Jammu & Kashmir manufactures namkeen snacks, fried namkeen pellets, and other namkeen snacks including popcorn with a total capacity of about 10,000 MT per annum.
Prataap Snacks Ltd shares have gained 14 percent in the last six months and 42 percent in the last 12 months.
Year over year, companies’ revenues have increased by 8 percent rising from ₹377 crores in Q3FY23 to ₹408 crores in Q3FY24. However, during the same period, there was a notable increase in net profit, by 233 percent, rising from ₹3 crores to ₹10 crores.
Prataap Snacks Limited (PSL) is an Indian snack food company engaged in manufacturing and marketing multiple product variants like potato chips, extruded snacks, and namkeen (traditional Indian snacks) under the Yellow Diamond brand and sweet snacks under the Rich Feast brand.
Moreover, Prataap Snacks has introduced various other snack products under different brand names like Chulbule, Rings, Namkeen, Wheels, Scoops, Kurves, Yum cake, Cookie Cake, Choco Vanilla Cake, CupCake, Tiffin Cake, Sandwich Cake, and more.
The company holds a dominant position in the market, ranking first in Rings, second in Extruded Snacks, and within the top five in Western Savoury Snacks. With a widespread presence in 27 states and 4 Union Territories, it boasts impressive sales figures, averaging 12 million packets daily, equivalent to over 8,000 packets sold per minute.
Revenue distribution reflects the company’s diverse product portfolio, with 58 percent attributed to Extruded Snacks, 23 percent to Potato Chips, 16 percent to Namkeen, and a mere 3 percent to Sweet Snacks. Offering over 125 different SKUs across Potato Chips, Extruded Snacks, Namkeen, and Sweet Snack categories, the company caters to various consumer preferences.
Operating a network of 14 manufacturing facilities nationwide, the company extends its reach through approximately 2.2 million retail outlets. Among these outlets, seven are directly owned by the company, while the remaining eight operate under contract manufacturing agreements.
Written by Omkar Chitnis
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