Manufactures and sells packaged savoury snacks across categories including Gathiya, Namkeen, Wafers and Fryums, distributed through a distributor-led general trade network. FY26 revenue stood at Rs 1,508.2 crores (up 2.7% YOY) and Q4 FY26 alone at Rs 409.6 crores (up 29% YOY), with the year's growth shaped by recovery from a December 2024 fire at the Rajkot plant. The Rajkot manufacturing facility has been fully commissioned at 1,05,000 MT installed capacity; the Modasa plant runs at 63,085 MT capacity, and the Gondal facility is being discontinued. Distribution expanded to 953 distributors with 125 micro-distributors added in the quarter. The four named categories form the bulk of sales — Gathiya is the largest at a Rs 410 crores base, Namkeen at Rs 350 crores, Fryums at Rs 250 crores and Wafers at Rs 155 crores — with Wafers targeted at the steepest FY27 growth; new products (cupcakes, Rs 10 drinks) scaled from Rs 25 crores to Rs 63 crores in FY26. Capacity utilisation sits at around 43-45%, leaving headroom for volume-led growth, while the cost base is dominated by raw materials at 68.7% of revenue, followed by other opex at 12.3% and employee cost at 8.0%. Insurance proceeds of Rs 37.4 crores were received in FY26 against the Rajkot fire, with an additional Rs 35-40 crores expected in Q2 FY27. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Gathiya, Namkeen, Fryums, Wafers, New products. Asset-heavy FMCG packaged snacks manufacturer with a distributor-led general trade model.
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 1,402 | 1,468 | 1,508 |
| EBITDA (ex other income) | 168 | 58 | 141 |
| margin % | 12.0 | 4.0 | 9.3 |
| Owners' profit | 100 | 19 | 74 |
| EPS, as reported (₹) | 7.99 | 1.52 | 5.91 |
| ROE % · ROCE % | 25.5 · 32.8 | 4.7 · 7.3 | 15.4 · 20.8 |
| Debt / equity (x) | 0.17 | 0.16 | 0.32 |
| Cash from operations | 68 | 68 | 46 |
| Capex | (31) | (84) | (153) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 403 | 394 | 317 | 322 | 376 | 401 | 410 | 422 |
| Profit before tax | 39 | 8 | (52) | 6 | 35 | 19 | 40 | 19 |
| Net profit | 29 | 5 | (40) | 3 | 26 | 15 | 30 | 13 |
| EPS (₹) | 2.32 | 0.43 | (3.17) | 0.20 | 2.06 | 1.24 | 2.40 | 1.03 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| NESTLE INDIA LIMITED | 2,66,742 | 70.0 | 51.72 | 48.5 | 67.9 | 54.7 | — | 24.4 |
| BRITANNIA INDUSTRIES LTD | 1,19,535 | 45.9 | 23.27 | 32.0 | 49.4 | 59.8 | 7.8 | 18.0 |
| ZYDUS WELLNESS LIMITED | 17,452 | 92.7 | 3.00 | 43.2 | 3.4 | 2.4 | 16.2 | 17.1 |
| BIKAJI FOODS INTERN LTD | 13,784 | 53.3 | 8.07 | 30.5 | 14.9 | 18.3 | — | 15.3 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Gopal Snacks commissions new Besan unit at Nagpur with 19,642 MT capacity | capex operations | high | — | — |
| 10 Sept 2026 · Analyst and investor meetings scheduled for 16 September 2026 | board shareholder meetings | low | — | — |
| 28 Aug 2026 · Gopal Snacks to meet Kiara Capital on Sept 2, 2026 | board shareholder meetings | low | — | — |
| 20 Aug 2026 · Notice of 17th AGM and e-voting information published in newspaper | compliance | minimal | — | — |
| 19 Aug 2026 · Gopal Snacks to meet investors on 24 August 2026 | board shareholder meetings | low | — | — |
| 17 Aug 2026 · Gopal Snacks files BRSR for FY2025-26 | compliance | low | — | — |
| 17 Aug 2026 · Gopal Snacks 17th AGM on Sep 18, 2026 via VC; CMD re-appointment on agenda | board shareholder meetings | low | — | — |
| 17 Aug 2026 · Gopal Snacks FY26 Annual Report: Revenue Rs 1,508 Cr, PAT Rs 74 Cr | results | high | — | — |
| 13 Aug 2026 · Gopal Snacks Q1 FY27 Earnings Call Transcript | investor communications | medium | — | — |
| 10 Aug 2026 · Audio recording link of Q1 FY27 earnings call shared | investor communications | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| BOMBAY BURMAH TRADING COR | 9,974 | 7.7 | 1.04 | 2.8 | 26.0 | 33.5 | 7.8 | 17.7 |
| MRS BECTORS FOOD SPE LTD | 7,452 | 25.3 | 5.86 | 26.1 | 11.1 | 13.1 | 18.3 | 14.7 |
| GOPAL SNACKS LIMITED ◆ | 3,225 | 38.4 | 6.74 | — | 15.4 | 19.4 | — | 7.6 |
| ADF FOODS LIMITED | 2,968 | 32.3 | 5.19 | 20.2 | 15.7 | 18.8 | 13.1 | 18.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 38.4 | 31.1 | 24 of 40 | 41% |
| P/B | 6.7 | 3.0 | 27 of 34 | 21% |
| ROCE | 19.4 | 7.0 | 7 of 41 | 85% |
| ROE | 15.4 | 7.7 | 10 of 36 | 74% |
| Debt / Equity | 0.3 | 0.1 | 28 of 36 | 23% |
| EBITDA margin | 7.6 | 9.9 | 21 of 33 | 38% |
| Revenue growth | 31.1 | 14.1 | 10 of 36 | 74% |
| Profit growth | 409.0 | 14.1 | 5 of 33 | 88% |
| Market cap | 3225 | 91 | 7 of 43 | 86% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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