The leading Indian Snack Foods Company, Prataap Snacks Ltd. (PSL) commented on the Q1 FY19 performance. Mr. Amit Kumat – MD, Prataap Snacks Limited said; “We have started FY19 on a positive note with revenues growing at 18.6% YOY in the first quarter as against a growth of 15.5% for the Fiscal year 2017-2018. This growth has been on the back of deepening our reach across the country and additions to the product portfolio.
The third-party manufacturing tie-ups entered into recently at Ahmedabad, Bengaluru and Kolkata have provided additional production capacity. While we have witnessed pressure on margins due to an abnormal increase in a few key raw materials, we have partially mitigated the impact through volume growth and cost optimization initiatives.
We remain confident that the continued consumption tailwinds and our strong customer value proposition will help the business sustain healthy growth momentum in the year ahead.”
The company 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.
The products are available at independent grocers and small retail stores in the lanes and by-lanes 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. Following a successful IPO in September 2017, PSL is now listed on the Bombay Stock Exchange (BSE: 540724) and National Stock Exchange (NSE: DIAMONDD) in India.