Prataap Snacks Limited has informed the Exchange about Investor Presentation
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Prataap Snacks (brand: Yellow Diamond) reported Q2 FY26 revenue of Rs. 4,298 Mn, down 2% YoY but up 5% QoQ, with the YoY decline attributed to GST transition disruption that made channel partners hesitant to buy old-GST inventory. Q2 EBITDA grew 20% YoY to Rs. 229 Mn, with EBITDA margin expanding 96 bps to 5.3%, helped by easing palm oil prices, process improvements, and grammage rationalization. Gross margin improved 75 bps YoY to 29.8%. However, H1 FY26 was weaker overall, with revenue down 2% YoY to Rs. 8,387 Mn and H1 EBITDA margin contracting 85 bps to 4.9% (from 5.7%). Q2 PAT was Rs. 41 Mn (down 33% YoY), though adjusted PAT (ex-exceptional) rose roughly 3x to Rs. 36 Mn. The company is debt-light, with short-term debt falling 84% to Rs. 40 Mn and cash plus FDs of Rs. 929 Mn. Management is optimistic on H2 FY26, citing GST rate rationalization, stable inflation, and lower interest/tax rates as tailwinds for consumption recovery.
Margin improvement in Q2 and management's guidance for 2-3% structural EBITDA margin expansion (via a new automated Indore plant and cost optimization) are positives, but a second straight quarter of YoY revenue decline and weak H1 PAT (down 69%) may temper investor enthusiasm in the near term.