Balaji Wafers - Key Stats
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 sale...