Concall Notes - Feb 2024
Revenue Growth:
Impacted by the Red Sea crisis towards the end of the quarter
Investing in brand building and profitable products for long-term growth
New products launched under the Ashoka brand, including frozen desserts and sauces
Financial Performance:
EBITDA margins improved year-on-year
Driven by cost reduction and sales mix
Benefited from the PLI scheme, with expected benefits to continue over the next few years
Market Focus:
Accelerating growth in the Indian market
Distribution business in the U.S. is a key market for the company
Investments in warehousing capabilities
Sales and Marketing:
Leveraging e-commerce channel for growth
Focus on performance marketing and feedback loop for product development
Expansion Plans:
Plans for expanding capacity and greenfield projects
Maintaining a debt-free balance sheet
Long-Term Growth Strategies:
On track to achieve revenue targets and maintain margins
Focus on long-term growth strategies
Our flagship brand, Ashoka, is growing at a CAGR of upwards of 30%. Our products
and manufacturers both at our Nadiad and Nasik plants, which have a combined capacity of
28,000 metric tons.
We also have a branded foods agency business for distribution of select FMCG products. These
are renowned brands, including Lipton, Brooke Bond Red Label, Taj Mahal and Knorr Soup.
This substantially broadens our offering and enhances our store presence in overseas countries.
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