iD Fresh Foods has projected an increase in its consolidated revenue by 24 percent to ₹690 crore for FY25 up from ₹554 crore in FY24. The company expects to close this year with near double-digit EBITDA driven by robust topline performance.

The growth was driven by a three-pronged approach, which includes expanding the core business—including, batter and parotta—along with new product developments (NPD) and expansion into new geographies.

Explaining the performance of the core business, Rajat Diwaker, India CEO, of iD Fresh Foods, said, “The batter segment continues to grow at a rate of 25 percent plus over last year.

Parotta is experiencing growth in the high single digits to double digits, with high double digits in some cases. The NPD, including recent launches in the chutney and stuffed paratha categories, are expected to contribute nearly 10 percent to revenue within the next two years. Currently, these products account for 3 percent of our business.“

Commenting on the inflation levels, he said, “We are witnessing significant inflation in raw materials. While packaging materials have not seen a substantial rise, the cost of raw materials has notably increased. Over the first six to seven months of this year, we have managed inflation effectively through strategic planning in our supply chain, including building forward positions. In terms of revenue, we are not seeing a major impact at this point, mainly because our products are not part of an impulse or indulgence category.

Additionally, the company plans to expand its manufacturing facilities. “We are also looking at expanding this year with new manufacturing facilities in three locations across India, Saudi Arabia, and Singapore over the next year,” he mentioned.

The company reported a profit after tax (PAT) of ₹4.56 crore, up by 86.13 percent increase for the fiscal year ending March 2024, compared to a loss of ₹32.88 crore in FY23, according to financial statements from Tofler.

Related Topics