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Prataap Snacks Ltd announces Q4, FY19 results

Posted On: 2019-05-23 08:27:04

Prataap Snacks Ltd. (PSL), (BSE - 540724), (NSE - DIAMONDYD) a leading Indian Snack Foods Company has announced its financial results for the fourth quarter and fiscal year ended 31st March 2019:

In Q4 FY19, PSL reported:

- Revenue of Rs. 3,065.3 million, delivered double digit growth of 11.8% yoy
- Operating EBITDA of Rs. 223.0 million, translating to a margin of 7.3%
- PAT* stood at Rs. 137.1 million in Q4FY19
- EPS* (Diluted) was at Rs. 5.84 per share in Q4FY19

In FY19, PSL reported:

- Total revenue of Rs. 11,706.1 million, higher by 14.9% yoy
- Operating EBITDA of Rs. 832.2 million, translating to a margin of 7.1%
- PAT* of Rs. 446.4 million in FY19
- EPS* (Diluted) was Rs. 19.03 per share in FY19

Commenting on the Q4 & FY19 performance, Mr. Amit Kumat - MD, Prataap Snacks Limited said;

"Over last 15 years, Yellow Diamond has evolved into a national brand in the Indian Snack Foods industry with a diversified product portfolio of more than 100 SKU's across multiple categories and having a truly pan-India presence. Even as we made progress in major markets, one key geography where we always endeavoured to build a dominant presence was Gujarat, the largest snacks food market in India. To fulfill that ambition, we acquired Avadh Snacks in Q3, the fourth largest salted snacks player in Gujarat. The acquisition gives us access to Avadh's well entrenched distribution network in Gujarat, which is being leveraged for Yellow Diamond products too. In addition, Avadh gives us a complementary product portfolio of 'Pellet Snacks' which we are looking to sell in markets outside Gujarat. This was the maiden acquisition in our history and in we have focused our efforts to ensure a successful and seamless post-merger integration. We are happy to report that the effort is yielding good results.

Even as the Avadh portfolio has progressed well, the organic Yellow Diamond portfolio faced certain challenges. While most of our product segments have done well, Rings performance was below expectations and has pulled down the overall growth. We are working on strategies and are confident of reverting to a similar kind of growth trajectory delivered in the past.

We are excited with the encouraging response for our sweet snacks portfolio. The Cookie Cake product is being well accepted in the market and we are witnessing good traction. Considering this we are expanding production capacity for sweet snacks by adding more lines in the existing plant. In addition we plan to launch variants like Cup Cake and Tiffin Cake in the coming months, which will further elevate the growth of this segment in FY20."

Shares of Prataap Snacks Ltd was last trading in BSE at Rs.939.95 as compared to the previous close of Rs. 889. The total number of shares traded during the day was 871 in over 162 trades.

The stock hit an intraday high of Rs. 942 and intraday low of 891. The net turnover during the day was Rs. 800885.

*Note - PAT and EPS are after adjusting for enhanced depreciation on intangible assets created upon acquisition of Avadh Snacks


Source: Equity Bulls

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