Haldiram sales cross $1 billion, up 14% YoY: Report

Haldiram

Haldiram sales crossed the $1-billion mark in India, with business doubling over the past four years, according to a report by The Economic Times.

In FY19, the food-manufacturing company reported combined revenue of Rs 7,130 crore (around $1 billion) across all its entities, an increase of 14 percent from FY18.

The 80 percent of the sales came from Haldiram’s branded packaged snacks, the report added. The company, which operates out of New Delhi, Nagpur and Kolkata, also runs restaurants.

The report is based on filings sourced from Veratech Intelligence.

The jump in sales is due to consumer’s increasing preference for traditional namkeen over Western snacks, the report said.

The report said Haldiram’s numbers were around the same as Hindustan Unilever’s (HUL) foods and refreshment business.

In 2018-19, Haldiram’s food and refreshments segment recorded revenue of Rs 7,133 crore.

“We understand Indian consumers’ snacking habits and ensure that operations including manufacturing and packaging are done in-house to keep quality in check and quickly adjust our portfolio to meet changing trends. Also, since we are family operated, decision-making is faster,” a Haldiram spokesperson told The Economic Times.

The spokesperson added that they had a stable management and consistent strategy since the attrition was lower than other consumer companies.

News Source: moneycontrol

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