Balaji Wafers - Key Stats

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The top three players in India's Rs 43,800-crore salty snacks market are  Haldiram's (21%), PepsiCo (15%) and Balaji Wafers.

Source: The Times of India

Rajkot-based company, Balaji Wafers, saw a remarkable growth in profits during the fiscal year 2023, with net profits surging to Rs 409 crore from Rs 7.2 crore in the previous year. The company also experienced a substantial increase in sales, recording a 24% growth and achieving revenues of Rs 5,010 crore.

Gujarat-based Balaji Wafers was founded by Chandubhai, Bhikubhai and Kanubhai Virani in 1982. The Virani brothers started by selling prepackaged snacks at a cinema canteen in the 1970s. 

Specializing in bhujia, potato chips, and namkeens, Balaji primarily operates in fewer than twelve states, with a significant presence in Gujarat, Maharashtra, and Rajasthan, where it commands an estimated 65% share of the organized market. 

In contrast to most FMCG companies, which typically allocate 8-12% of their annual sales for advertising and promotion, Balaji Wafers spent less than 2% on A&P in the last fiscal year.

The company, with over 65 product SKUs and nearly 1,300 dealers, surpassed Rs 5,000 crore in revenue in 2023. Reports indicate that in FY24, Balaji Wafers achieved a revenue of Rs 5,454 crore and recorded a profit of Rs 579 crore.

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