Annapurna Swadisht operating revenue surges by nearly 100% to Rs 131 cr in H1FY24
Kolkata-based food and beverages company, Annapurna Swadisht Limited (ASL), reported a significant increase in revenue and profit for H1FY24, with a near 100% surge in revenue to Rs 131.13 crore and a 128% rise in profit after tax to Rs 6.56 crore.
The company's operating profit (EBITDA) also saw a remarkable jump of almost 163% to Rs 13 crore during the same period.
Improved margins were attributed to economies of scale, entry into high-margin products, and normalized raw material prices.
ASL, primarily serving Tier III and Tier IV markets, plans to strengthen its presence through distribution expansion and new product launches.
Commenting on the performance, Shreeram Bagla, Managing Director, 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.”
Sequentially, revenue from operations grew by nearly 39% from Rs 94.93 crore registered during H2FY23 (second half of the financial year ended March 31, 2023).
“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.
The company has five owned manufacturing units spread across West Bengal at Asansol, Siliguri, Gurap, Dhulagarh, and six contractual/leasing arrangements at Kakinara (West Bengal), Hazaribagh (Jharkhand), Ranigunj (WB), Ganjam (Odisha), Siliguri (WB) and Mathura (UP).
The company, listed on the NSE-SME platform in September 2022, had raised close to Rs 65.43 crore through a preferential issue of equity shares and warrants by September 2023.
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