Food brand Proventus Agrocom Limited (ProV) has reported strong growth in revenue and profit for the first half of fiscal year 2024-25. The company attributes this success to consistent product quality, effective marketing, and innovation.
EBITDA rises to INR 8.16 Cr, sales sees 49% growth
For the period ending September 2024 (Q2), ProV recorded a consolidated profit after tax (PAT) of INR 4.86 crore, an 86% increase year-on-year (YoY), and a consolidated revenue of INR 295.85 crore, a 47% YoY growth.
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In a press release, Mr. Durga Prasad Jhawar, CEO and MD of Proventus Agrocom Limited, stated, “We’re thrilled to share an impressive 49% year-on-year growth in ProV Brand sales, reaching INR 213.15 crores in H1 FY25 from INR 143.1 crores in H1 FY24. This growth is matched by a strong increase in EBITDA, rising to INR 8.16 crores from INR 4.46 crores in the previous fiscal half, underscoring our brand’s momentum in both revenue and profitability.”
Furthermore, for the half-year ended Q2, ProV Brand reported revenue sales of INR 213.15 crore, reflecting a 49% YoY growth. The company also achieved an employee pension scheme (EPS) of INR 14.2 during this period.
ProV to quadruple production by FY25 with new Surat facility
Meanwhile, the health food brand has recently enhanced its retail presence through strategic partnerships in modern retail and by appointing new distributors to strengthen its reach in the general trade sector. Additionally, the launch of its festive gifting range has garnered significant interest from consumers and partners, with expectations of doubling sales compared to last year.
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Notably, ProV has also introduced the ‘Indulgence’ series, featuring five varieties of chocolate-coated almonds, and revamped the packaging of its ‘Fusion’ trail mix to highlight functional benefits, appealing to health-conscious consumers.
In terms of expansion, ProV’s newly acquired manufacturing facility in Surat, set to become operational by the last quarter of FY25, will quadruple its production capacity. With this expansion, ProV to meet increasing demand, scale up sales, and foster further product innovation.
“We are excited about our upcoming new facility near Surat—a state-of-the-art operation designed to quadruple our production capacity. This facility will enable us to expand and innovate with greater pace, bringing high-quality healthy snacks closer to households nationwide” Jhawar stated further.
Looking ahead, ProV aims to achieve ₹1,000 crore in revenue by 2028, with a projected CAGR of 32-35%.
