AI assistant
Prataap Snacks Limited Earnings Release 2023
61220_rns_2022-11-03_9abffcb1-3cb5-4580-80a3-a1d94fc7a7fe.pdf
Earnings Release
Open in viewerOpens in your device viewer
Ref. No.: PSL/2022-23/CS/SE/50 Date: 3rd November, 2022
| To, | To, |
|---|---|
| Listing Department | Corporate Relationship Department |
| National Stock Exchange of India Limited | BSE Limited |
| Exchange Plaza, 5th Floor, | P.J. Towers, |
| Plot No. C/1, G Block, | Dalal Street, |
| Bandra Kurla Complex, | Mumbai - 400 001 |
| Bandra (E), Mumbai - 400 051 | |
| Security Code: 540724 | |
| Symbol: DIAMONDYD | Security ID: DIAMONDYD |
Dear Sir/Madam,
Subject: Press Release on Unaudited Financial Results for the quarter and half year ended 30th September, 2022
Please find enclosed herewith Press Release on the Unaudited Financial Results of the Company for the quarter and half year ended 30th September, 2022.
This is for your information and records.
Thanking you,
Yours faithfully,
For Prataap Snacks Limited
OM PRAKASH PANDEY
Digitally signed by OM PRAKASH PANDEY DN: c=IN, o=Personal, 2.5.4.20=c307a34cd872e86a524bf95912b60c8501f569d50 722b06d046715499dd27fe8, postalCode=452016, st=MADHYA PRADESH, serialNumber=d746008d19f74f5d166504fd548c082bdf74f ad2970b9b2c3167b0f5d406abb1, cn=OM PRAKASH PANDEY, l=INDORE, title=6169, pseudonym=616920210217175416703, email=[email protected] Date: 2022.11.03 19:52:22 +05'30'
Om Prakash Pandey Company Secretary and Compliance Officer
Encl.: As above
Prataap Snacks Limited (PSL)
REPORTS ROBUST PERFORMANCE IN Q2 FY23 REVENUE UP 23% ON A YoY BASIS
Indore, November 3rd, 2022: Prataap Snacks Ltd. (PSL), (BSE- 540724), (NSE- DIAMONDYD) a leading Indian Snacks Food Company has announced its financial results for the quarter and half year ended 30th September 2022:
In Q2 FY23, PSL reported:
- o Revenue of Rs. 4,572.8 million, registering growth of 23.4% yoy
- o Operating EBITDA of Rs. 220.9 million, translating to a margin of 4.8%
- o PAT stood at Rs. 42.4 million
- o EPS (Diluted) stood at Rs. 1.81 per share
In H1 FY23, PSL reported:
- o Revenue of Rs. 8,398.6 million, registering growth of 29.2% yoy
- o Operating EBITDA of Rs. 201.4 million, translating to a margin of 2.4%
- o PAT stood at Rs. (71.5) million
- o EPS (Diluted) stood at Rs. (3.05) per share
Key Development
o The Company has formalized a plan to expand its manufacturing footprint by setting up a facility in Jammu Region. Land acquisition has been partially completed and the proposed plant will be the second largest facility after Indore. The proposed investment in the facility will qualify as committed investment as per the approval of the PLI scheme.
Commenting on the Q2 &H1 FY23 performance, Mr. Amit Kumat – MD, Prataap Snacks Limited said.
"We are delighted to report a strong performance with revenues higher by 23% yoy in Q2 and by 29% yoy for the half year. The improvement in overall activity levels supported by resilient consumption patterns has led to higher demand. Our efforts to expand our network through addition of new distributors and more retail touchpoints combined with optimising existing distribution strength have also contributed to the growth momentum. We have added 25 vehicles to our fleet in the last 6 months which has also aided in better distribution efficiency.
We are also pleased to share that our subsidiary Avadh has also delivered strong revenue growth on a yoy basis accompanied by an EBITDA margin of 8.7% for the quarter, surpassing the margin performance of the parent company.
This quarter, we witnessed the initial impact of softening of palm oil prices leading to improved profitability. The commodity cycle has started to ease out and as we move ahead, we anticipate higher positive impact on EBITDA margin from reducing input prices. The initiative of direct distribution has led to compression of our distribution layers leading to a structural improvement in EBITDA margin.
Lastly, we are excited with our plan to further increase our manufacturing footprint by setting up a facility in Jammu region. This will enable us to better serve markets in North India. In the backdrop of multiple tailwinds, the outlook is bright for both revenue growth and enhanced profitability."
–ENDS–
About Prataap Snacks Ltd
Prataap Snacks Limited (PSL) is a leading Indian Snacks Food Company. It offers multiple variants of products across categories of Potato Chips, Extruded Snacks, Namkeen (traditional Indian snacks) under the popular and vibrant Yellow Diamond and Avadh brands. It has recently launched a range of sweet snacks under the distinctive Rich Feast brand. PSL is focused on offering deep value to consumers through a variety of pack sizes at attractive price points. Its products are present across 27 states and 4 union territories in India, and it is one of the fastest growing companies in the organized snacks industry.
Headquartered in Indore, India; PSL operates 13 manufacturing facilities of which 6 facilities (Indore 1&2, Assam 1&2, Bengaluru and Rajkot) are owned and 7 facilities (Kolkata, Bengaluru (2), Kanpur, Karnal, Patna and Hissar) are on contract manufacturing basis. Its distribution network includes more than 1,500 super distributor and more than 3,700 sub-distributors allowing it extensive reach across the country. PSL has a wide presence that is equally spread in metro cities and urban clusters as well as in rural areas and Tier 2 and 3 cities and towns. Its products are available at independent grocers and small retail stores in the lanes and bylanes of its key markets and it is now building up its presence in supermarkets, hypermarkets and modern trade outlets.
Led by an able and experienced leadership and guided by an accomplished Board of Directors, PSL is a socially responsible corporate citizen with a strong focus on Corporate Governance and Internal controls. PSL is listed on the Bombay Stock Exchange (BSE:540724) and National Stock Exchange (NSE:DIAMONDYD) in India.
For further information please contact:
Sumit Sharma Prataap Snacks Limited Email: [email protected]
Disclaimer
Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Prataap Snacks Limited (PSL) will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward looking statements to reflect subsequent events or circumstances.
