Unbelievable reason why Poha is the ultimate breakfast powerhouse!

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May 15, 2023

Poha, also known as flattened rice, is a popular breakfast dish in India. It is made by parboiling rice and then flattening it to make it thin and light. Poha is a versatile dish that can be eaten in many ways, including with vegetables, peanuts, and spices. It is a popular breakfast dish across India that is loved for its ease of cooking, delicious taste, and health benefits.

Here are some reasons why Poha is the ultimate breakfast powerhouse:

Good for Gut Health:

Poha is light on the stomach and easy to digest. When cooked with veggies, it becomes a wholesome meal that can help you feel full for longer hours, curbing your need to snack. Poha is also a probiotic food that is made by parboiling paddy. It is then sun-dried and beaten flat before undergoing fermentation. This fermentation process makes poha a good source of probiotics that are essential for a healthy gut. Probiotics help to promote the growth of good bacteria in the gut, which can improve digestion, boost immunity, and even improve mental health.

Keeps You Energized:

Poha is a rich source of carbohydrates, which are essential for providing the body with energy. A plate of poha provides about 76% of carbohydrates and 24% of fats, making it an excellent source of energy for the body. Poha is also a great probiotic source, which allows you to retain microbial flora from digested carbohydrates. Unlike other carbohydrate-rich foods that can lead to weight gain, poha doesn’t store any fat, making it an ideal breakfast dish for weight loss.

Helps Maintain Blood Sugar Levels:

People with diabetes need to be careful about what they eat, as certain foods can cause a sudden rise in insulin levels. Poha is a good source of fiber, which slows down the absorption of sugar into the bloodstream. This prevents a sudden spike in blood sugar levels and helps to keep it stable. Consuming poha regularly can also improve insulin sensitivity, which can be beneficial for people with type 2 diabetes.

Helps Fight Anemia:

Anemia is a widespread issue in India, and poha is an excellent source of iron. Iron is essential for the production of hemoglobin, which carries oxygen in the blood. Iron deficiency can lead to anemia, which can cause fatigue, weakness, and shortness of breath. Consuming poha regularly can help fight anemia and improve the body’s overall energy levels. To ensure better absorption of iron by your digestive system, add some lemon juice to your poha.

Good for Weight Loss:

Poha is a low-calorie food that is rich in fiber, making it an excellent breakfast option for weight loss. The fiber in poha helps to keep you feeling full for longer hours, which can prevent overeating. Poha is also low in gluten, making it suitable for people with gluten intolerance or celiac disease. If weight loss is your goal, your poha recipe for breakfast should include a balance of veggies. Avoid adding potatoes and go easy on the peanuts.

Poha is a delicious and nutritious breakfast dish that is popular in India. It is a versatile dish that can be prepared in many ways, depending on the region and personal preferences. Poha is not only tasty but also has several health benefits that make it an excellent breakfast option. It is light on the stomach, easy to digest, and can keep you energized for longer hours. Poha is also a good source of probiotics,fiber, and iron, making it ideal for maintaining gut health, stabilizing blood sugar levels, fighting anemia, and promoting weight loss.

So the next time you’re looking for a healthy and delicious breakfast option, give Poha a try!

Why you should have Retail Advertising to expand the reach of your food brand?

Business

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SnackTeam

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May 14, 2023

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Retail advertising is a powerful tool for expanding the reach of your food brand. By utilizing various advertising channels and techniques, retail ads can help promote your brand to a wider audience and drive more sales.

Retail ads are advertisements placed in physical retail locations, such as grocery stores or supermarkets, to promote a particular product or brand to consumers as they shop. They can take the form of in-store displays, product demonstrations, or even branded signage. The goal of retail ads is to increase the visibility and desirability of a product or brand, and ultimately drive sales.

Retail ads are an essential tool for food brands looking to expand their reach and increase their sales. By leveraging the power of visual and persuasive messaging in retail stores, brands can create a strong impression with consumers and build lasting relationships that drive long-term growth.

It can be a cost-effective way for food brands to promote their products. Compared to other forms of advertising, such as television or radio ads, retail ads are typically less expensive to produce and distribute. This can make them a particularly attractive option for smaller or emerging food brands with limited marketing budgets.

We will discuss the benefits of retail advertising and how it can help your food brand reach new heights.

1. Increases brand visibility

One of the key benefits of retail advertising is that it increases the visibility of your brand. With the right advertising strategy, your brand can be promoted across various channels, such as print, TV, and digital media. This exposure can help your brand get noticed by potential customers who may not have known about your brand before.

Retail ads help to increase the visibility of your food brand by exposing it to a wider audience. By placing ads in retail stores or on retail websites, you can reach potential customers who may not have otherwise been aware of your brand. This increased visibility can lead to more brand recognition and can help to attract new customers to your business. Additionally, it can help to establish your brand as a trusted and recognized player in the food industry, which can be beneficial in building long-term relationships with customers.

2. Builds brand credibility

Retail advertising can also help build your brand’s credibility. By promoting your brand through reputable and trusted retail outlets, you are sending a message that your brand is reliable and trustworthy. This can go a long way in building trust with potential customers and increasing sales.

Retail ads can also help build brand credibility for food brands. When consumers see a food product advertised in a store or on a website, it reinforces the idea that the brand is legitimate and trustworthy. Retail ads create an opportunity for food brands to showcase their products and their quality to potential customers, which can help build trust and loyalty over time. When consumers see a brand’s products in a retail setting, it can create a sense of familiarity and recognition that can lead to increased sales and repeat business. Overall, building brand credibility through retail ads is an important step in expanding the reach of a food brand.

3. Drives sales

Ultimately, the goal of retail advertising is to drive sales. By reaching a wider audience and building credibility for your brand, you can attract more customers and increase sales. Retail advertising can also be used to promote special offers, discounts, and other promotions, which can help drive even more sales.

Retail ads can also help to drive sales for a food brand. By showcasing products and promotions, retailers can entice consumers to make a purchase. This can be especially effective if the ad is timed to coincide with a special event or holiday, when consumers may be more likely to make a purchase. Additionally, retail ads can create a sense of urgency by promoting limited-time offers or discounts, which can further encourage consumers to make a purchase. By driving sales, retail ads can help to increase revenue for a food brand.

4. Targeted advertising

Another key benefit of retail advertising is that it can be targeted to specific audiences. By utilizing data and analytics, you can create targeted ads that are tailored to the preferences and needs of your target audience. This can help increase the effectiveness of your advertising campaigns and drive more sales.

Targeted advertising refers to a type of advertising that aims to reach specific groups of people based on their demographics, interests, behaviours, and other characteristics. With retail ads, food brands can target their advertising to specific audiences, such as those who are interested in healthy eating or those who have previously purchased similar products.

5. Cost-effective

Retail advertising can be a cost-effective way to promote your brand. With the right strategy, you can maximize your advertising budget and get the most bang for your buck. By utilizing digital advertising channels, such as social media and online advertising, you can reach a wider audience at a lower cost.

Retail ads are cost-effective as they allow you to reach a large number of potential customers at a relatively low cost compared to traditional advertising methods like TV or radio commercials. This is particularly important for small or growing food brands with limited marketing budgets. Retail ads allow you to allocate your advertising spend in a more targeted way, ensuring that your brand message reaches your intended audience. Additionally, with digital retail ads, you can track the performance of your ad campaign in real-time and adjust your strategy accordingly to get the best return on investment (ROI).

6. Measurable result:

Finally, retail advertising provides measurable results. With the right analytics tools, you can track the effectiveness of your advertising campaigns and adjust your strategy accordingly. This can help you optimize your advertising efforts and maximize your return on investment.

Retail ads can provide measurable results for food brands. With the use of analytics and tracking tools, it is possible to monitor the success of the ad campaigns. Brands can analyze metrics such as click-through rates, conversion rates, and sales to assess the effectiveness of their retail ads. By understanding which ads are performing well and which are not, brands can make data-driven decisions on how to allocate their advertising budget to achieve the best results.

Retail ads can significantly expand the reach of your food brand. It can help your brand stand out in a crowded market and reach new customers in an effective and cost-efficient way. With the right strategy and approach, retail ads can help your food brand grow and thrive in today’s competitive retail landscape. It can also create a strong impression with consumers and build lasting relationships that drive long-term growth.

Why is the innovation culture on the rise in the food industry? 7 strategies for fostering a culture of innovation in food businesses

Business

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SnackTeam

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May 14, 2023

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Innovation is key to success in any industry, and the food industry is no exception. With the rapidly changing tastes and preferences of consumers, food businesses need to constantly innovate to stay ahead of the curve. Fostering a culture of innovation can help food businesses to develop new products, improve efficiency, and stay competitive in the market.

In food businesses, fostering a culture of innovation means creating an environment that encourages the development of new and exciting products, the adoption of new technologies, and the continuous improvement of processes and operations. This can help businesses stay ahead of the curve in an industry that is constantly evolving.

However, it is not just about encouraging new product development, but also about creating an environment that values and rewards creativity, collaboration, and risk-taking. It involves creating a safe space for employees to experiment and make mistakes, while also providing the resources and support needed to turn innovative ideas into reality.

Fostering such culture is extremely important, especially in today’s highly competitive and rapidly changing market. With consumers becoming more health-conscious and demanding, and with technology driving new trends and innovations, food businesses must continually adapt and evolve to stay relevant.

It is essential for staying competitive in a rapidly changing market, driving growth and success, and meeting the evolving needs and preferences of consumers.It also helps to grow in the modern world as consumers are more aware and are open to trying first-of-a-kind products. Creating a culture of Innovation within your company is driven by multiple factors.

Firstly, the rise of new technologies and the increasing use of data analytics in the food industry are making it easier for businesses to identify trends and opportunities for innovation. By harnessing these technologies and analyzing consumer behaviour, businesses can identify gaps in the market and develop new products and services that meet the changing needs and preferences of their customers.

Secondly, the growth of the food startup ecosystem is also driving innovation in the industry. As more and more startups enter the market, established businesses are being forced to adapt and innovate to stay competitive. The culture of innovation that is often found in startups is also spreading to established businesses, as they seek to stay relevant and capture a share of the growing market.

Thirdly, consumers are becoming more demanding when it comes to the food they eat, and they are increasingly looking for healthier, more sustainable, and ethically produced food options. This is driving innovation in areas such as plant-based and alternative protein products, organic and non-GMO foods, and sustainable packaging.

Not to be forgotten, the COVID-19 pandemic has also accelerated the need for innovation in the food industry. With the shift towards online ordering and delivery, businesses have had to quickly adapt to new ways of operating and find innovative solutions to meet the changing needs of their customers. Alongside, the pandemic has enabled people to think towards more nutrition and improved immunity-boosting ingredients to stay healthy & fit.

Strategies for fostering a culture of innovation include encouraging experimentation, embracing failure, creating a collaborative environment, celebrating successes, investing in training and development, and encouraging diversity and inclusion. Here are some strategies for fostering a culture of innovation in food businesses:

1. Encourage creativity: Encourage employees to think outside the box and come up with new ideas. This can be done through brainstorming sessions, innovation workshops, or simply by giving employees the freedom to experiment.

2. Create a safe space for experimentation: Encourage employees to experiment with new ideas without fear of failure. Create a safe space for experimentation by allowing employees to test new ideas on a small scale before implementing them on a larger scale.

3. Develop a culture of continuous learning: Encourage employees to continuously learn and develop new skills. This can be done through training programs, workshops, and other learning opportunities.

4. Foster collaboration: Encourage collaboration and teamwork between employees from different departments. This can help to bring fresh perspectives and new ideas to the table.

5. Provide resources and support: Provide employees with the resources and support they need to innovate. This can include funding for research and development, access to new technology, and support from management.

6. Recognize and reward innovation: Recognize and reward employees for their innovative ideas and contributions. This can be done through bonuses, promotions, or other forms of recognition.

7. Embrace new technology: Embrace new technologies such as automation, artificial intelligence, and data analytics to drive innovation and improve efficiency.

By fostering a culture of innovation, food businesses can develop products quickly and efficiently that are more relevant to the changing trends at a faster pace and better efficiency when combined with good technology and facilities.

Delhi’s Food Truck Policy finally on the roll: 40 locations identified, late-night hours approved

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May 13, 2023

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The people of Delhi can now indulge in their favorite street foods like Gol gappa, chaat-papdi, and chowmein until 2 am as the city government has accelerated the implementation of its ‘Food Truck Policy.’ This ambitious plan has already identified 40 locations for food trucks to operate, bringing convenience and delicious food to the masses.

According to officials, the establishment of food truck hubs will take place gradually in multiple phases.

“In the first phase, food truck hubs will be opened at 10-15 locations. The main aim behind this project is to boost the city’s night economy and create employment,” said a senior Delhi government official.

The policy was initially introduced in the “Rozgar budget” of 2022 and was scheduled to be announced in October of that year. The plan aimed to select five plots of land and launch 25 food trucks. However, the program was stalled for two reasons: first, the appointment of the Delhi tourism department as the executing agency required cabinet approval, and second, a disagreement between the AAP government and the L-G caused further delays, leaving the scheme in a state of uncertainty.

According to officials, the plan has been finalized by the tourism department and will be subject to review by Chief Minister Arvind Kejriwal.

As per officials, the government will not grant licenses to individuals for setting up a single or a couple of food trucks.

“Our aim is to give different food options to residents and tourists. So, instead of issuing licences to individual food truck owners, they will be given to a firm or a concessionaire which will manage the land where food trucks can be set up. The concessionaire or the company will be selected through a tender which will be floated soon by the tourism department,” said an official.

The government has identified sites under its jurisdiction to prevent complications in obtaining NOC and land usage permissions.

“Getting an NOC is a big problem, which often leads to delays. To avoid this, the 40 spots identified come under DJB, PWD and other departments,” said an official.

Officials have stated that the food trucks are anticipated to be located in close proximity to metro stations, markets, residential areas, and high-traffic areas like Dilli Haat.

D2C platform The Ayurveda Experience achieves remarkable revenue growth in FY23, sets course for profitability

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May 13, 2023

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tae — TAE inaugurated its inaugural standalone brand store in the US in October 2022 and intends to open an additional store this quarter.

The Ayurveda Experience (TAE), a direct-to-consumer (D2C) platform that sells products across 20+ countries, is poised to achieve profitability in the current fiscal year after experiencing strong growth in FY23. The health and wellness startup saw a noteworthy 91.48% increase in revenue, reaching INR 270 crore in FY22-23, up from INR 141 crore in FY21-22.

TAE has received support from well-known investors such as Anicut Capital, Fireside Ventures, The Kalpavriksh Fund (Centrum Group), Sharrp Ventures (Mariwala Family Office), Riverwalk Ventures, Singularity Ventures, Emerge Capital, and more.

Rishabh Chopra, Founder & CEO, TAE, said, “This growth in revenue over the years can be mainly attributed to launching new products that help solve user concerns, rampant growth in our European markets, and significant optimisations in our advertising cost-to-revenue ratio and promotion costs as a ratio of revenue.”

“We expect to be profitable in the current FY 2023-24. We were already profitable in the USA and Canada in FY23,” he added.

TAE was founded in 2010 and has established an Ayurveda-focused D2C platform to serve customers in North America, Europe, Australia, and India. Its product range spans across categories like skincare, body care, personal care, and supplements. The company has raised INR 105 crore in primary capital and attracted around INR 30 crore through secondary share purchases from investors.

“North America is our biggest market but we have seen rapid adoption of Ayurveda products in European markets in recent times,” Chopra said.

TAE inaugurated its inaugural standalone brand store in the US in October 2022 and intends to open an additional store this quarter.

Talking about future investment plans Chopra said, “We are actively investing in new product development/research. enhancement of existing products and scientific/ clinical trials. We are also investing in supply chain technologies, and technologies to help recommend products better to our users/personalize the purchase experience for our users.”

FMCG platform Soptle raises $1M in funding, with Kube VC and We Founder Circle as lead investors

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May 13, 2023

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Soptle, a retail platform that focuses on fast-moving consumer goods (FMCG), has recently secured $1 million in funding. The investment round was led by Kube VC and We Founder Circle, and also included participation from Iceland Venture Studio (IVS), Nyra Ventures, the founders of Dunzo, Jar, Bijak, 888VC, and the managing partner of Rocketship.vc.

Kube VC and Dunzo founder Ankur Agarwal, who are existing investors, also took part in the funding round.

Soptle plans to utilize the funding to expand its network of retailers and manufacturing partners throughout India. The company aims to introduce new products and enhance its technology to enable local retailers and manufacturers to access larger markets and expand their services in various regions across India.

Pravas Chandragiri, Chief Executive and Founder of Soptle said, “Over the last two years, we have worked hard to bring together 80,000 kirana store owners and retailers across India on our platform who are now using our technology for their geographical expansion. We strongly believe technology can help us realise the potential of the FMCG industry.”

Founded by Chandragiri, a 20-year-old entrepreneur, Soptle is a SaaS-based B2B retail commerce platform designed to assist consumer goods companies with product distribution through its extensive network. The platform was launched in May 2022.

By offering a nationwide distribution network at zero fixed cost, Soptle empowers FMCG manufacturers to increase their revenue. At the same time, the platform enables retailers to access products with significantly higher margins, three to four times more than the average, along with financing options to grow their business.

“With this innovative, tech-led, manufacturer-centric and distribution-first model, Soptle can create a next generation B2B commerce platform that increases value realisation and income for manufactures. We are delighted to support Soptle which is enabling manufacturers better access to market and distribution of their product using Soptle’s strong tech infrastructure,” said Faiz Mayalakkara, partner at Kube VC.

7 elements to understand the right social media platform for your food business

Business

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SnackTeam

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May 13, 2023

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social media platform for your food business

In today’s digital age, social media has become an essential tool for businesses to connect with their audience and promote their brand. The food industry is no exception, as restaurants, cafes, and other food businesses have turned to social media to reach a wider audience and showcase their products. However, with so many social media platforms available, it can be challenging to determine which one is right for your food business.

Social media has become an essential tool for businesses to reach their target audience and promote their products or services. In the food industry, social media can be especially effective in showcasing menu items, promoting new dishes, and engaging with customers. It allows businesses to share their brand story, connect with their audience on a personal level, and ultimately drive sales.

Understanding their social media preferences refers to identifying the social media platforms that your target audience uses the most. This is an important step because it helps you focus your social media efforts on the channels where your target customers are most active, which can lead to higher engagement and ultimately more conversions.

It’s also important to note that different social media platforms appeal to different demographics, so understanding your target audience’s age, gender, interests, and geographic location can help you determine the best platforms to use for your food business.

When choosing a platform, it’s important to consider how each platform aligns with your content goals. For example, if you want to showcase high-quality images of your food and restaurant, Instagram would be a good choice. If you want to provide helpful cooking tips and recipes, Facebook and Pinterest would be suitable options. If you want to engage with customers in real-time and provide updates on your restaurant, Twitter would be a good choice.

Altogether, it is a difficult and confusing decision that will always make you feel the Fear of Missing Out. Hence, we will discuss seven essential elements to consider when choosing the right social media platform for your food business.

1. Define Your Target Audience

The first step in choosing the right social media platform is to define your target audience. Who are you trying to reach? What age group do they fall into? What are their interests and hobbies? By understanding your target audience, you can determine which social media platforms they are most likely to use and tailor your content to their preferences.

2. Identify Your Goals

Before choosing a social media platform, you should identify your goals. Are you looking to increase brand awareness? Do you want to drive traffic to your website or physical location? Are you interested in generating leads and sales? Once you have identified your goals, you can choose a social media platform that aligns with your objectives.

3. Consider Platform Demographics

Different social media platforms have different demographics. For example, Facebook has a broad user base that includes all age groups, while Instagram is popular among younger generations. LinkedIn is ideal for B2B businesses, while TikTok is popular among Gen Z. By understanding the demographics of each platform, you can choose the ones that are most relevant to your target audience.

4. Evaluate Content Types

Social media platforms vary in the type of content they support. Instagram, for example, is a visual platform that supports photos and videos, while Twitter is text-based and limits the length of posts. Pinterest is ideal for businesses with visually appealing products, while LinkedIn is better suited for professional content. By evaluating the types of content supported by each platform, you can choose the ones that are most suitable for your food business.

5. Analyze Your Competitors

It’s always a good idea to analyze your competitors’ social media presence. Which platforms are they using? What type of content are they posting? How often are they posting? By analyzing your competitors, you can gain valuable insights into which platforms and content types are most effective in your industry.

6. Determine Your Budget

Social media platforms offer various advertising options, including paid ads, sponsored content, and influencer marketing. Before choosing a platform, you should determine your budget for social media marketing and evaluate the cost-effectiveness of each platform’s advertising options.

7. Monitor and Measure Results

Once you have chosen a social media platform, it’s essential to monitor and measure your results. Use analytics tools to track engagement, reach, and conversion rates. By analyzing your results, you can optimize your social media strategy and ensure that you are reaching your target audience effectively.

Selecting the right social media platform is crucial for the success of any food business. By understanding your audience, and the features of different platforms, and aligning them with your content goals, you can effectively reach and engage with your target customers. You can ensure that your social media strategy is effective and tailored to your business’s needs.

Zomato transforms into Mazoto, honoring mothers worldwide on their special day

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May 13, 2023

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In a heartwarming tribute to mothers around the world, food delivery giant Zomato has rebranded itself as ‘Mazoto’ on the occasion of Mother’s Day. With a new brand video that showcases the selfless love and sacrifices made by mothers, the company aims to underscore the idea that ‘Ma’ always takes precedence. As families celebrate this special day dedicated to the most important woman in their lives, Mazoto’s gesture serves as a touching reminder of the unwavering bond between a mother and child.

The video aims to portray a unique food delivery platform that is entirely developed by mothers. The interface showcased in the video closely resembles Zomato, but with a distinct twist. Everything is “Mo(m)dified,” featuring exclusive promo codes like ‘CLEANROOM25’ for a generous 25% discount and a minimum order requirement of more than one roti.

Although the video maintains a lighthearted tone, it effectively communicates the profound warmth associated with a mother’s love language: food.

As a complement to the video, Zomato will be launching a captivating feature called “ChildGPT” that aims to take customers on an emotional journey, adding an extra layer of engagement to the platform.

Starting on Mother’s Day (May 14th), Zomato’s app will offer a special feature for a limited time. Customers will have the opportunity to participate by answering three easy questions, enabling them to create a delightful drawing and a short poem from the perspective of a toddler. This interactive activity invites users to tap into their imagination and express their creativity, providing a unique and heartfelt experience for both the users and their mothers.

Deepinder Goyal, Chief Executive Officer, Zomato said, “Mothers are special. To you, to me, to us all. The ‘Mazoto’ campaign is our ode to all mothers, and we wish them ‘Happy Mother’s Day’ in the style we love and enjoy.”

Watch the video here:

DS Group to open first exclusive Laderach brand outlet in Delhi this July, plans to expand in key cities across India

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May 13, 2023

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The FMCG conglomerate, Dharampal Satyapal Group (DS Group), is set to open the first exclusive brand outlet of Swiss chocolate brand Laderach in Delhi this July.

The boutique will be constructed as a premium store following the directives provided by Laderach headquarters.

Earlier this year, DS Group, the parent company of well-known brands like Pulse, Rajnigandha Silver Pearls, Chingles, and Paas Paas, formed a partnership to introduce the premium chocolate brand Laderach in India. DS Group will handle the repackaging and distribution of the Swiss-made products imported into the country.

Rajiv Kumar, DS Group’s Vice Chairman, said, “According to the reports, the per capita consumption of chocolates in India is too low as compared to the global standards. So, on similar lines chocolate consumption is expected to further grow in India.”

He emphasized that the luxury market in India is predicted to expand at a faster pace due to the rapid adoption of luxury.

Over the next two years, DS Group and Laderach intend to launch roughly 5-7 stores in key metropolitan cities across India. The brand will not only be available through exclusive outlets but will also be sold through shop-in-shops, e-commerce platforms, and airport stores targeting India’s premium audience.

In India, the retailer is also exploring opportunities in the corporate, wedding, and event gifting sectors for Laderach.

Without sharing any revenue targets, Kumar said, “Our focus is never primarily on the numbers. We will instead be focusing on brand building and distribution. The larger aim is to keep the exclusivity of the brand intact.”

DS Group has expanded its premium product portfolio in the market by adding Laderach to its brand lineup. The company’s existing premium brands consist of Le Marche, L’Opera, Uncafe, and Les Petits.

In regards to the strategy of selling a premium brand in a price-sensitive market like India, Kumar stated that price is not an issue for the company, and their aim is to provide the highest quality to their customers.

Citing the FMCG giant’s previous launches, he said, “We were the first ones to move the 50 paisa candy market to INR 1. Now everybody is selling at INR 1. In a way, we cater to the premium segment.”

According to Kumar, DS Group has plans to develop or introduce various categories that cater to all market segments, going beyond just the premium audience.

Colgate-Palmolive India reports 2.3% decline in Q4 profit at INR 316.2 Crore, while sales increase by 4% to INR 1,341 Crore

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May 13, 2023

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Colgate-Palmolive India Ltd, a leading FMCG company, announced a 2.27% drop in net profit to INR 316.22 crore for the fourth quarter that ended on March 31, 2023. This decline was primarily due to a one-time tax reversal. In the corresponding period last year, the company had reported a net profit of INR 323.57 crore. CPIL disclosed this information in a BSE filing.

During the quarter under review, the sales of the company rose by 3.9% to INR 1,341.69 crore, as compared to INR 1,291.21 crore in the corresponding quarter of the previous year.

The company’s Profit Before Exceptional Item and Tax stood at INR 428.06 crore.

“Excluding the impact of one-time tax reversal in the prior year quarter, the net profit grew by 8.5 per cent for the quarter,” it said.

CPIPL recorded a 2.82% rise in its total expenses during Q4/FY23, which amounted to INR 942.92 crore, compared to INR 917.01 crore in the same period the previous year.

In the March quarter, CPIL’s total income increased by 4.64% to reach INR 1,370.98 crore.

Commenting on the results Managing Director Prabha Narasimhan said, “The Company has delivered domestic growth of 5.4 per cent, with toothpaste delivering high single-digit growth despite continuing sluggish demand trends in the category, especially in rural.

“This has been driven by our strategy to increase consumption, innovation focussed on delivering high-quality science-led products and premiumisation. We remain fairly optimistic that the overall category growth will improve in the coming quarter,” she added.

CPIL’s net profit for the fiscal year ending March 2023 decreased by 2.89% to INR 1,047.14 crore, compared to INR 1,078.32 crore in the previous fiscal year.

In FY23, its sales rose by 2.39% to INR 5,187.86 crore, compared to the previous fiscal year.

CPIL’s board has sanctioned a second interim dividend of INR 21 per equity share with a face value of INR 1 for FY23. This brings the total dividend for FY23 to INR 39 per share.

On Friday, Colgate-Palmolive India Ltd’s shares closed at INR 1,626.30, indicating a 0.12% increase from the previous day’s closing price.

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