Annapurna Swadisht Limited is a food manufacturing company incorporated in 2016, operating in the Fast-Moving Consumer Goods (FMCG) sector. The company focuses primarily on the Indian snack and sweet market, particularly targeting rural and semi-urban areas across eastern and northeastern India. Originally formed as a partnership firm in 2015, the company was converted into a Private Limited Company in 2022 and subsequently became a Public Limited Company the same year.
The company went public through an IPO in September 2022 and is now listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The stock trades under the symbol ANNAPURNA on NSE and has the BSE code 535477, with a face value of ₹10 per equity share.
Annapurna Swadisht operates with a comprehensive product portfolio spanning multiple categories. The company offers approximately 10 product categories with a total of 75 SKUs, including Fryums, Namkeen, Extruded Snacks, Noodles, Cake, Biscuits, Candy, Sweets, and Drinks. The company maintains a robust distribution network with more than one hundred stockists and over five hundred distributors across Uttar Pradesh, Bihar, Jharkhand, West Bengal, Assam, and Odisha.
The manufacturing infrastructure consists of two well-equipped facilities. The company has its registered office in Kolkata, West Bengal, and operates two manufacturing units in Jalpaiguri and Asansol. The daily production capacity includes 15 MT of Fryums at the Asansol unit and 10 MT at the Siliguri facility. Both manufacturing units are certified by the Food Safety and Standards Authority of India (FSSAI).
The company's product range includes popular brands such as Jackpot, Chatpata Moon, Balloon, Finger, Rambo, Makeup Box, Dhamaka, Phoochka, Jungle Adventures, Ringa, Bachpan Ka Pyaar, and Kurchure. The company has established a unique price point of Rs 5, making it a dominant player in rural markets.
Currently, Annapurna Swadisht sells 12 lakh packets of its products daily through a distribution network comprising 300 distributors and 80 Super Distributors. This extensive reach allows the company to effectively serve its target markets across eastern India.
The company has built its operations around premium quality raw materials. Key raw materials include refined flour, palm oil, spices, and laminates, sourced from reputed local suppliers to ensure product quality. The products are manufactured using premium quality raw materials and include items like Fryums, cakes, candies, namkeen, chips, and Gohona Bori.
As of the latest available data, Annapurna Swadisht has a market capitalization of ₹661 crores. For the year ended 2024, the company posted a profit of ₹13.13 crores on total income of ₹264.97 crores. The company reported an operating revenue of ₹760.04 crores on a trailing 12-month basis.
- Profit (FY2024): ₹13.13 crores
- Total Income (FY2024): ₹264.97 crores
- Trailing 12-Month Revenue: ₹760.04 crores
- Market Capitalization: ₹661 crores
- Annual Revenue Growth: 65%
- Pre-Tax Margin: 7%
- Return on Equity (ROE): 11% (Note: A separate ROE of 16.2% is also mentioned, might need clarification or context)
- Debt-to-Equity Ratio: 7%
- ROCE: 19.1%
- Debtor Days Improvement: From 93.1 days to 40.8 days
The stock has a 52-week high of ₹494.90 and a 52-week low of ₹244.95. The current P/E ratio stands at approximately 50.85, while the P/B ratio is 5.82. The P/B ratio represents a 70% discount to the peer median of 8.17 times, and the P/E ratio shows a 33% discount to the peer median of 76.04 times.
The company's promoters are Ritesh Shaw and Shreeram Bagla, who collectively own 39.87% of the total equity. Promoter holding has decreased to 39.88% as of March 2025 from 48.96% as of September 2023. However, promoters have pledged 53.1% of their holding, which is a factor for investors to consider.
Shreeram Bagla serves as the chairman of the company, while Shakeel Ahmed holds the position of Company Secretary and Compliance Officer.
Annapurna Swadisht's major competitors include Euro India FreshFood, Tasty Bite Eatables, Prataap Snacks, Bikaji Foods International, Krishival Foods, Foods & Inns, and Bambino Agro Industries. With a market cap of ₹667 crores, the company is positioned below the peer median market cap of ₹737 crores.
The company's focus on rural markets and affordable pricing strategy has helped establish its market presence. As a Bharat FMCG company, Annapurna Swadisht has positioned itself to serve the rural consumer segment effectively.
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