Gopal Snacks Limited — Earnings Release 2026

Nov 10, 2025

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Ref: GSL/CS/Q3/2025-26

Date: 10.11.2025

BSE Limited Department of Corporate Services, Pheroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001

National Stock Exchange Limited Exchange Plaza, 5[th] Floor, Plot No. C/1, G Block, Bandra-Kurla Complex, Mumbai – 400051

Script code: 544140

Symbol: GOPAL

Sub: Press release on financial results for the quarter and half year ended 30[th] September 2025

Dear Sir / Madam,

Pursuant to the requirements of the Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time, please find enclosed herewith a copy of the Press Release issued by the Company in relation to the Unaudited Standalone Financial Results of the Company for the quarter and half year ended on 30[th] September 2025, the content of which is self-explanatory.

The enclosed Press release will be made available on Company’s website and the same can be accessed at www.gopalnamkeen.com

Please acknowledge and take on your record. Thanking You.

Yours Faithfully,

For, GOPAL SNACKS LIMITED

Digitally signed by Gangani Mayur Gangani Mayur Popatbhai Popatbhai Date: 2025.11.10 17:54:27 +05'30' CS Mayur Gangani Head – Legal & Compliance cum Company Secretary Membership No. F9980

Encls: as above

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Q2 and H1 FY2026 Earnings Press Release

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Gopal Snacks Limited

PRESS RELEASE

Rajkot, India, November 10,2025

Delivers Strong Q2 FY 26 Performance , Quarterly Momentum accelerates

Gopal Snacks Limited today announced a strong performance for the Quarter ended September 30, 2025 , underscoring high double digit revenue growth sequently, coming out of woods and early impact of being back on Track post Fire incident at Rajkot last year

Recorded Strong growth Sequentially, with Core State grew by 12%, Focus State by 28% with overall volume growth of 10%.

Namkeen Facility at Modasa starts Trial Production , addressing Supply Chain issues with this Facility becoming Hub for all major Products and delivery from Single Location.

Restatement of Fire affected Assets is on Fast trajectory, received Rs. 20 Crs as Adhoc Payment in current Qtr from Insurance Company.

Financial Results

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INR Crs Q2 FY 26 Q1 FY 26 QoQ% Q2 FY 25 YoY% H1 FY 26 H1 FY 25 YoY%
Sales 376 322 17% 403 -7% 698 757 -8%
EBITDA 24 15 59% 47 -48% 39 88 -55%
EBITDA % to Sales 6.4% 4.7% 11.6% 5.6% 11.6%
PBT (excl. Exceptional Item) 13 5 154% 39 -65% 19 72 -74%
PBT% to sales 3.6% 1.6% 9.6% 2.7% 9.5%
Exceptional Profit/(Loss) 22 0.2 0 22 0
PAT (incl. Exceptional Item) 26 3 917% 29 -11% 28 53 -47%
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Q2 FY26 Financial Performance Highlights:

• Revenue from operation for the Quarter is at Rs. 376 Cr showing Q-o-Q of 16.6%

• EBITDA was higher with a growth of 60% at Rs. 24 Crs (6.4% of sales ) as against Rs. 15 Crs (4.7% of sales ) in Q1FY 26.

• Profit Before Tax (before Exceptional Items) was higher with a growth of 154% at Rs. 13 Crs (3.6% of sales) as against Rs.5 crs (1.6% of sales ) in Q1FY26.

• Exceptional income of Rs. 19.99 Cr received from insurer as Adhoc payment

• Profit After Tax (with Exceptional item) stands at Rs. 25.7 Cr with a margin of 6.8%

• Advertisement and sales promotional expenses for the Quarter is 1.6% of the revenue.

Q2 and H1 FY2026 Earnings Press Release

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Other Key Operational Highlights:

• YOY Sales is lower due to Supply chain issues and Margins are lower mainly due to Custom duty impact on palm oil levied by government in Sep’ 24 and Operational de-leverage. .

• Non Core States delivered a strong YoY growth of 37.2% during the quarter

• 858 distributors were active as on Sep 25, with steady growth across core, focus and new markets, up from 828 in Sep 24

• The Company entered into long-term agreements in Q2 FY 26 for third-party manufacturing facilities at Hiryur (Karnataka) and Kashipur (Uttarakhand). The Hiryur facility, with an installed capacity of 4,400 MTPA, focuses on Wafers, Snack Pallets, and Corn Products, enhancing the Company’s presence in the Southern region. The Kashipur facility, with a capacity of 5,900 MTPA, caters to Namkeen, Gathiya, Snack Pallets, and Corn Products, strengthening its foothold in the Northern markets.

• The company collaborated as the Official Snacks Partner for the Prestigious Filmfare Awards 2025.

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Commenting on the performance Mr. Bipinbhai Hadvani, Chairman and MD said:

Q2 FY2026 was a quarter of steady progress and operational enhancement for Gopal Snacks. The Company continued to strengthen its manufacturing footprint, expand its market reach, and improve supply chain efficiency. Despite a dynamic market environment, performance remained stable, supported by consistent execution and cost discipline. Revenue from operations stood at Rs.375.7 crore, up 16.6% QoQ, driven by continued traction across the Other Products segments.

EBITDA for the quarter stood at Rs.24.1 crore, with margins at 6.4%, reflecting improved operating leverage and prudent cost management. For H1 FY2026, revenue stood at Rs.697.8 crore, down by 7.8% YoY, while EBITDA margin remained at 5.6%, due to fire at the Rajkot I manufacturing facility. Despite these headwinds, the Company remained focused on its long-term growth, undertaking strategic initiatives aimed at ensuring operational stability and facilitating recovery.

During the quarter, the Company received an interim payment of Rs.19.99 crore from its insurer as part of the restatement of fire-affected assets at the Rajkot facility. The process of reinstating these assets is currently underway, and the insurance claim will be recognized upon completion of the restatement. Meanwhile, the Gondal unit continued to ensure uninterrupted production and supply, demonstrating the resilience and flexibility of Gopal Snacks’ operations.

To further strengthen its regional manufacturing base, the Company entered into long-term agreements for thirdparty manufacturing facilities at Hiryur (Karnataka) and Kashipur (Uttarakhand). The Hiryur facility, with an installed capacity of 4,400 MTPA, focuses on Wafers, Snack Pallets, and Corn Products, enhancing the Company’s presence in the Southern region. The Kashipur facility, with a capacity of 5,900 MTPA, caters to Namkeen (including Gathiya), Snack Pallets, and Corn Products, strengthening its foothold in the Northern markets. These facilities will enable deeper market penetration, faster servicing of dealers, and a more balanced regional mix, ensuring sustained growth momentum.

Another key highlight of the quarter was Gopal Snacks’ collaboration as the Official Snacks Partner for the Filmfare Awards 2025. This prestigious partnership marks a significant milestone in the Company’s brand journey, showcasing its high-quality products to a nationwide audience. The association enhances visibility across television, digital, and social platforms, reinforcing Gopal Snacks’ position as one of India’s leading and most trusted snack brands.

Operationally, Gopal Snacks continued to focus on improving efficiencies across its manufacturing network. The Modasa plant started its trail Production for Namkeen Plant with full fledge operations expected in near future. With this company is expecting to improve distribution coverage across Gujarat (beyond Saurashtra and Kutch), Rajasthan, Maharashtra (MMR), and Madhya Pradesh. The region-based supply chain model, supported by the Distribution Management System (DMS), further improved real-time visibility, inventory planning, and dealer engagement, contributing to steady operational performance.

Q2 and H1 FY2026 Earnings Press Release

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The Company also continued investing in marketing and brand-building initiatives, with refreshed packaging, increased presence across airports and public spaces, and growing engagement through e-commerce and modern retail platforms. These efforts have strengthened brand visibility and consumer connect, which will aid future growth.

Looking ahead, Gopal Snacks remains focused on building a strong, scalable, and efficient business model. The expansion of its manufacturing base, improving distribution reach, and ongoing brand initiatives position the Company well to capture long-term opportunities in India’s growing snacks market. With a disciplined approach to cost management, capacity planning, and market expansion, Gopal Snacks is confident of sustaining its growth momentum and creating lasting value for all stakeholders

Q2 and H1 FY2026 Earnings Conference Call:

Conference Call Details: Tuesday, November 11, 2025, at 3:00 PM IST	Conference Call Details: Tuesday, November 11, 2025, at 3:00 PM IST
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Universal Access Number	+91 22 6280 1325
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Toll Free Number	HK: 800 964 448

For further information, please contact:

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Mr. Mayur Gangani

Head – Legal & Compliance cum Company Secretary cs@gopalsnacks.com

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Simran Malhotra / Sanket Vangule

gopalsnacks@churchgatepartners.com +91 22 6169 5988

About Gopal Snacks Limited:

Gopal Snacks Limited is a leading manufacturer of packaged snacks in India, offering a diverse portfolio that includes gathiya, namkeen, wafers, snack pellets, extruded snacks, and other products such as papad, besan, spices, and bakery items. With six manufacturing facilities supported by in-house cold storage and a network of ancillary units, the company applies a vertically integrated approach to ensure quality and agility in production. Its products reach consumers through an extensive distribution network of over 850 distributors and nearly 300 owned logistics vehicles, supported by advanced distribution management systems. Gopal Snacks exports to markets including Canada, the UAE, the UK, and the USA, expanding its global footprint. Strategic initiatives focus on strengthening partnerships with retail chains, advancing e-commerce channels, introducing innovative flavors, and deepening market penetration through marketing and branding initiatives. Committed to sustainability through renewable energy adoption and resource efficiency, Gopal Snacks aims to drive growth, enhance its product appeal, and capitalize on evolving consumer preferences in the growing packaged foods industry. For more details, please visit: https://www.gopalnamkeen.com/

Disclaimer:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward- looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.