Prataap Snacks Limited – Q3 results – Shows strong double digit growth in Q2FY20 with a Revenue Growth by 17% on a YOY basis

STRONG DOUBLE DIGIT GROWTH IN Q3FY20 REVENUE GROWS 17.0% ON A YOY BASIS Q3FY20 Operating EBITDA margin 6.0%

INDORE, 05th February, 2020 (GNI): Prataap Snacks Ltd. (PSL), (BSE- 540724), (NSE- DIAMONDYD) a leading Indian Snack Foods Company has announced its financial results for the quarter and nine months ended 31st December 2019
In 9M FY20, PSL reported:

Total revenue of Rs. 10,796.2 million, higher by 24.9% YoY
Operating EBITDA of Rs. 799.7 million, translating  to a margin of 7.4%
Normalised EBITDA (after adjustment for share based compensation) of Rs. 816.3 million , translating  to a margin of 7.6%
PAT of Rs. 271.6 million at a margin of 2.5%
EPS (Diluted) was Rs. 11.58 per share in 9MFY20
 

In Q3 FY20, PSL reported:

o   Revenue of Rs. 3606.3 million, delivered strong double digit growth of 17.0% YoY

o   Operating EBITDA of Rs. 216.1 million, translating  to a margin of 6.0% 

o   Normalised EBITDA (after adjustment for stock based compensation) of Rs. 226.7 million, translating  to a margin of 6.3% 

o   PAT stood at Rs. 55.2 million at a margin of 1.5%

o   EPS (Diluted) was at Rs. 2.35 per share in Q3FY20

Commenting on the Q3 & 9M FY20 performance, Mr. Amit Kumat – MD, Prataap Snacks Limited said;

“I am pleased to report that we have witnessed very strong revenue growth across our entire portfolio of savoury and sweet snacks, amidst the consumption slow down. However, we have faced challenges on the margin front, owing to the sharp, unusual rise in Palm oil prices, which is a key input for our business. We are hopeful this unusual spike will cool off in the near term, which should restore our profitability going forward. We continue to focus on cost-optimisation and process-engineering, in order to drive a higher bottomline, while keeping our revenues buoyant.”

About Prataap Snacks Ltd. (PSL) is a leading Indian Snack Foods Company. It offers multiple variants of products across categories of Potato Chips, Extruded Snacks, Namkeen (traditional Indian snacks) under the popular and vibrant Yellow Diamond brand. It 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. Its products are present across 27 states in India and it is one of the fastest growing companies in the organized snacks.

Industry Headquartered in Indore, India; PSL operates 14 manufacturing facilities of which 5 facilities (Indore 1, Indore2, Assam-1, Assam-2 and Gujarat) are owned and 9 facilities (located in Ahmedabad, Kolkata Bangalore, Kashipur, Karjat and Hissar) are on contract manufacturing basis. Its distribution network includes more than 240 super stockists and more than 4,100 distributors allowing it extensive reach across the country. PSL has a wide presence across the country that is equally spread in metro cities and urban clusters as well as in rural areas and Tier 2 and 3 cities and towns. Its products are available at independent grocers and small retail stores in the lanes and bylanes 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: DIAMONDYD) in India.ends