INDORE, JUNE 18, 2020 (GPN): Prataap Snacks Ltd. (PSL), (BSE- 540724), (NSE- DIAMONDYD) a leading Indian Snack Foods Company has announced its financial results for the quarter and full year ended 31stMarch 2020:
In FY20, PSL reported:
o Revenue of Rs. 13,937.9 million, registering double digit growth of 19.1% yoy
o Operating EBITDA of Rs. 936.8 million, translating to a margin of 6.7%
o PAT stood at Rs. 469.2 million in FY20
o EPS (Diluted) was at Rs. 20.01 per share in FY20
o The Board of Directors have recommended a dividend of Rs. 1 per share (face value of
Rs. 5.00 per share)
In Q4 FY20, PSL reported:
o Revenue of Rs. 3,141.7 million, registering growth of 2.5% yoy
o Operating EBITDA of Rs. 137.1 million, translating to a margin of 4.4%
o PAT stood at Rs. 197.6 million in Q4FY20
o EPS (Diluted) was at Rs. 8.42 per share in Q4FY20
Mr. Amit Kumat – MD, Prataap Snacks Limited -Photo By Sachin Murdeshwar GPN
Commenting on the FY20 performance, Mr. Amit Kumat – MD, Prataap Snacks Limited said, “We delivered a robust performance in FY20 with revenue growth of 19.1% despite moderate consumption trends across the country. Even as we were witnessing an upswing in demand in January and February with a growth of more than 15% yoy, the rapid spread of the COVID-19 pandemic and subsequent lockdown disrupted the momentum.
The last few months have witnessed unprecedented disruption in economic activity, manufacturing operations and supply chains due to the Covid-19 pandemic. Despite being a processed food company our mother plants at Indore received permission from local authorities to restart operations only in mid-May (Indore being a Covid hotspot), that too with reduced capacity. As a result, we were able to operate at only 25% and 50% of the pre-Covid level, on an overall basis, respectively in April and May. This was largely enabled by our Guwahati plant and 3P’s across India which had restarted operations from mid-April in a progressive manner.
I am pleased to share that major disruptions are largely behind us and as on date, overall operations have reported an utilisation level of over 80% of the pre-Covid level.
While we begin FY21 on a cautious note, we see the current economic challenges due to COVID19 as a temporary phase and expect the business to ramp up in coming quarters as normalcy returns. We are confident of higher volumes across our products on the back of our four-pillar growth strategy. Contract manufacturing facilities set up over the last 24 months and the enhanced capacity for Avadh provides us headroom to scale up the salty snacks business even as we look to build on the momentum in the sweet snack business.” ENDS
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