Annapurna Swadisht Limited (ASL), a Kolkata-based food and beverage company, has witnessed a remarkable upswing in its operational performance. Reporting a nearly 100 percent surge in revenue from operations, the company achieved INR 131.13 crore for the half-year ending September 30, 2023, compared to INR 65.61 crore in the corresponding period last year. Furthermore, ASL’s profit after tax also experienced substantial growth, registering a notable increase of 128 percent and reaching INR 6.56 crore during the same reporting period.
In the first half of the financial year 2023 (H1FY24), Annapurna Swadisht Limited (ASL) witnessed a substantial surge in its operating profit (EBITDA), marking an impressive increase of nearly 163 percent to reach INR 13 crore. This contrasts with the INR 4.95 crore reported in H1FY23. The company’s enhanced EBITDA margins of 9.92 percent during H1FY24 reflect a noteworthy improvement of 238 basis points compared to the previous corresponding period’s 7.55 percent. This positive shift is attributed to improved economies of scale, entry into high-margin products, and stabilized raw material prices.
Shreeram Bagla, MD, Annapurna Swadisht, said, “The increase in top line during the first half of this fiscal was primarily due to the addition of new capacities penetration into newer geographies along with better penetration in some of the existing markets.”
“We remain bullish about the Bharat story, which lies in India’s rural and semi-urban markets. We have been witnessing good traction in demand from these markets. With increasing per capita income, we expect demand to grow even further in the days to come. We have expanded our manufacturing capacity by setting up a new plant at Dhulagarh in West Bengal, which has already commenced operations. We look to strengthen our presence in the existing markets by ramping up our distribution footprint and rolling out more SKUs,” Bagla said.
Operating through a network of five proprietary manufacturing units and six contractual/leasing arrangements at diverse locations, ASL predominantly serves Tier III and Tier IV markets in Bihar, Jharkhand, West Bengal, Assam, Odisha, and Uttar Pradesh. The company boasts a comprehensive portfolio, featuring nearly 72 Stock Keeping Units (SKUs) spanning various categories. Its products are accessible through an extensive distribution network, reaching over 6 lakh retail touchpoints.
Listed on the NSE-SME platform in September 2022, ASL successfully generated approximately INR 65.43 crore by the end of September 2023 through a preferential issue of equity shares and warrants. Positioned for sustained growth, the company has strategically appointed GP Sah, the former CEO of the FMCG division of the CG group, as an Additional Director and Joint Managing Director. Mr. Sah will spearhead ASL’s expansion into new product segments, with a particular focus on the noodles segment.
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