Dear shareholders,
The Indian Savoury snacks market is experiencing unprecedented growth, driven by
evolving consumer preferences. Our understanding of Indian tastes and preferences, coupled
with our stringent quality control measures, has enabled us to establish a differentiated
position in the Indian snacks market.
Our flagship product, Gathiya, continues to drive our profitability and success. As
India's largest Gathiya manufacturer, we have set new benchmarks for quality, taste and
consistency. Consequently, our foray into the wafers segment has been equally impressive,
with rapid growth in both volume and revenue.
Broadening our footprint
We remain focused on consolidating our stronghold in Gujarat while aggressively
pursuing market share in key regions of Maharashtra, Rajasthan, Madhya Pradesh and Uttar
Pradesh. Furthermore, we are enthusiastic about entering promising new markets such as
Jharkhand, Chhattisgarh, Telangana and Karnataka. With a robust distribution network,
comprising over 650+ distributors and over 5.50 Lakh retail touchpoints, as of FY 2024, we
continue to broaden our market reach.
We continue to strengthen our market position through a strategic focus on backward
integration. Our extensive network of integrated facilities, coupled with a well-received
product range and robust distribution network, has been instrumental in delivering
exceptional value to our consumers.
By controlling key aspects of our production process, we have achieved significant cost
reductions, allowing us to offer products that seamlessly balance taste, quality, and
affordability.
Committed to build a sustainable organisation
As a responsible corporate, sustainability is integral to our operational strategy. We
are implementing the use of renewable energy within our operations through the
installation of solar and windmill projects. These initiatives not only enhance our
operational efficiency but also contribute to significant cost savings over the long run.
Moving forward
We aim to establish a dominant presence in the Wafer segment, leveraging our advanced
manufacturing capabilities and the largest cold storage facility in India. By introducing
new flavors, we seek to enhance our market share and profitability, capitalizing on the
high-margin potential of this category.
With a clear vision for the future, we are positioned for growth. Our goal is to expand
our market reach and strengthen our position as a leading company in the global food
industry. We are focusing on new initiatives to foster innovation and enhance our product
offerings, ensuring we uphold the true essence of our brand.
By introducing a range of products aimed at diverse consumer segments and implementing
a bold, dynamic advertising and branding strategy, we are on an exciting path to increase
our market share and create value for our stakeholders.
In conclusion, I would like to extend my heartfelt gratitude to our people, customers,
business partners and all other stakeholders for their constant support. Your trust
empowers us to explore new frontiers of success and broaden our horizon. Together, we
remain poised for sustained growth in a dynamic snacks industry.
Warm Regards,
Bipinbhai Vithalbhai Hadvani
Chairman & Managing Director