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What is the business of Gopal Snacks?

Gopal Snacks is fast-moving consumer goods company in India, offering ethnic snacks, western snacks and other products across India and internationally. In Fiscal 2023, it was the fourth largest brand in the organised sector of ethnic savouries (including gathiya) in terms of market share in India and the largest manufacturer of gathiya (in terms of production volume and sales revenue) and snack pellets (in terms of production volume) in India. In Fiscal 2023, it was the second largest organised ethnic namkeen manufacturer in Gujarat with Gujarat among the top states with high consumption of snacks in India, and the fourth largest packaged ethnic namkeen manufacturer in India, each in terms of sales revenue. Further, it was the fourth largest papad manufacture in terms of sales revenue in India. It offers a wide variety of savoury products under its brand ‘Gopal’, including ethnic snacks such as namkeen and gathiya,
western snacks such as wafers, extruded snacks and snack pellets, along with fast-moving consumer goods that include papad, spices, gram flour or besan, noodles, rusk and soan papdi.

It recorded an increase in its revenue from operations from Rs 11,288.61 million in Fiscal 2021 to Rs 13,946.53 million in Fiscal 2023 at a CAGR of 11.15% and its EBITDA increased from Rs 603.52 million in Fiscal 2021 to Rs 1,962.25 million in Fiscal 2023, at a CAGR of 80.31%. Further, it recorded an increase in its profit after tax from Rs. 211.22 million in Fiscal 2021 to Rs. 1,123.69 million in Fiscal 2023, at a CAGR of 130.65%.

The Indian market for savoury snacks which includes western snacks and ethnic savouries
or traditional snacks (including gathiya), is estimated to be valued at Rs 796 billion in Fiscal 2023, of which western snacks and ethnic savouries (including gathiya) were estimated to be valued at Rs. 409 billion and Rs. 388 billion, contributing 51% and 49% of the overall Indian savoury snacks market, respectively. The Indian market for savoury snacks is projected to grow at a CAGR of approximately 11% reaching Rs. 1,217 billion by Fiscal 2027. Further, the organized market is estimated to hold a market share of approximately 57% in Fiscal 2023 in the Indian market for savoury snacks and is forecasted to grow at a CAGR of 11.7% during Fiscal 2023 to 2027, accounting for a market share of approximately 58% by Fiscal 2027.
Its product portfolio comprised 84 products with 276 SKUs across its various product categories, thereby addressing a wide variety of tastes and preferences.

For more information, click www.gopalnamkeen.com

Gopal Snacks IPO GMP, Particulars & Guidance

Gopal Snacks IPO Guidance* by Paresh Gordhandas, CA & Research Analyst.
Gopal Snacks is fast-moving consumer goods company in India, offering ethnic snacks, western snacks and other products across India and internationally. In Fiscal 2023, it was the fourth largest brand in the organised sector of ethnic savouries (including gathiya) in terms of market share in India and the largest manufacturer of gathiya (in terms of production volume and sales revenue) and snack pellets (in terms of production volume) in India. In Fiscal 2023, it was the second largest organised ethnic namkeen manufacturer in Gujarat with Gujarat among the top states with high consumption of snacks in India, and the fourth largest packaged ethnic namkeen manufacturer in India, each in terms of sales revenue.
The Indian market for savoury snacks is projected to grow at a CAGR of approximately 11% reaching Rs. 1,217 billion by Fiscal 2027.
Size: The size of the IPO Rs. 650 Cr. is not quite large. HNI portion is just Rs. 96.97 cr, so chances of oversubscription are very high. With 152507 applications, retail potion will get one time subscribed which is also not at all difficult.
Financial Snapshot & Guidance: Compared to Bikaji and Pratap snacks, the company has solid topline and also bottomline. The shares are offered at attractive valuation, and it leaves room for listing gains. The Indian market for savoury snacks is projected to grow at a CAGR of approximately 11% reaching Rs. 1,217 billion by Fiscal 2027. More and more large corporations are entering this market, which will also help to expand the overall market and profitability of this company. Apply with full force.
* Disclosure: ?

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