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Food and beverages company Annapurna Swadisht on Friday reported a close to 84 per cent year-on-year increase in its consolidated net profit at ₹13.13 crore for the last financial year.
- Also read: Annapurna Swadisht set to enter edible oil market with acquisition of branded mustard oil
The Kolkata-based company had posted a net profit of ₹7.14 crore for FY23.
Revenue from operations increased by nearly 65.43 per cent at ₹264.97 crore during FY24 compared to ₹160.17 crore in FY23, the company said in a release.
EBITDA rose nearly 108 per cent to ₹28.13 crore during the last financial year as against ₹13.54 crore in the previous financial year. The company reported an EBITDA margin of 10.62 per cent in FY24, which was an improvement of 216 basis points y-o-y.
Shreeram Bagla, Managing Director, Annapurna Swadisht, said the higher margins came on the back of better economies of scale, entry into high-margin products and normalising raw material prices.
“The year 2023-24 has been an exceptional year for Annapurna Swadisht as we have taken several key initiatives to strengthen our foothold in existing markets even while adding new products to fortify our presence in the packaged food industry. Our foray into biscuits and noodles business and the recent acquisition of Arati branded mustard oil from R R Proteins and Agro Limited are steps in this direction,” Bagla said.
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