Haldiram Sales Leaps beyond USD 1 Billion
India’s major sweets and savouries manufacturer Haldiram crossed a billion dollars of sales mark in India with the trade growing over the past four years.
The company operates out of three geographies with a several outlets. It claimed a combined revenue of INR 7,130 crore during fiscal ‘19, according to filings sourced from Veratech Intelligence, exceeding the sales of Mondelez India and at par with Unilever's food and refreshment division, reported ET. Sales of Haldiram’s combined units grew 14 per cent from Rs 6,241 crore in FY18. While it also runs restaurant chains, packaged snacks contributed over 80 per cent of sales for the market leader.
“We understand Indian consumers’ snacking habits and ensure that operations including manufacturing and packaging are done in-house to keep quality in check and quickly adjust our portfolio to meet changing trends. Also, since we are family operated, decision-making is faster,” said a Haldiram spokesperson.
He further added, “We have lower attrition compared to other consumer companies and that helps in keeping a stable management and consistent strategy.”
With sales of Rs 6,571 crore last year, Haldiram controls a fifth of India’s snack market, which expanded 12 per cent to Rs 32,000 crore. While the growth rate has tapered from 14 per cent a year earlier, traditional snacks such as dal, chivra, bhujia and nuts are still growing faster than western products including potato chips. Haldiram’s net profit grew 5 per cent to Rs 694 crore, which is less than 10 per cent of its overall sales.