Annapurna Swadisht FY23 PAT leaps 196%; Product Basket expands to 10 categories
Kolkata: Annapurna Swadisht, a Kolkata-based FMCG company, Saturday reported a whopping 163% jump in its revenue at Rs 160.64 crore for the financial year ending March 2022-23 (FY23) compared with Rs 61.05 crore registered in the year-ago period.
The company’s annual profit zoomed by 196% to Rs 7.14 crore during the period under review compared with Rs 2.41 core reported in the same period last fiscal.
The company’s operating profit (EBITDA) surged to Rs 13.54 crore in 2022-23 as against Rs 5.14 crore registered in the year-ago period. Its margins improved due to better economies of scale and a wider product profile.
Meanwhile, during H2FY23 (October 2022-March 2023), Annapurna Swadisht clocked revenue growth of 158.5% at Rs 94.94 crore compared with Rs 36.73 crore achieved in the H2FY22, while revenue grew by 44.5% over H1FY23.
During the period, the firm’s profit after tax (PAT) vaulted by 271% to Rs 4.27 crore in H2FY23 over Rs 1.15 crore reported in FY22 and jumped 48.4% over H1FY23.
Its total net worth improved from Rs. 8.45 crore in FY22 to Rs. 59.76 crore in FY23, owing to capital raised for its ambitious expansion plan.
During H2FY23, the company ventured into Indian snacks and beverages and further improved its presence in Odisha and Bihar from the existing three states. Annapurna has also entered the Uttar Pradesh market while expanding its product basket to 10 categories.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Buddha Air plane veers off runway during landing at Nepal's Bhadrapur, all 55 onboard safe
FBI says ISIS-inspired New Year’s Eve attack in North Carolina foiled, 18-year-old arrested
Priyanka Gandhi Vadra's son Raihan announces engagement to Aviva Baig, shares first glimpse
Dharamshala student’s death leads to FIR over ragging, sexual assault; seniors, professor booked
