Gopal Snacks Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Gopal Snacks Ltd filed with BSE on 13 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Gopal Snacks reported highest-ever quarterly revenue of Rs 422.3 crores for Q1 FY27, up 31.1% year-on-year and 3.1% sequentially, aided by the recommencement of the Rajkot main facility. EBITDA more than doubled year-on-year to Rs 31.5 crores with margin improving to 7.4% from 4.7% in Q1 FY26, while gross margin stood at 27%. Management discussed price hikes and grammage reductions taken to offset raw material inflation, distributor network expansion, and provided commentary on full-year revenue and margin expectations.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Revenue from operations: INR 422.3 crores (Q1 FY27)
p. 3
“We delivered highest-ever quarterly revenue from the operations of INR 422.3 crores during the quarter, reflecting a growth of 31.1% year-on-year and 3.1% sequentially.”
Naveen Gupta, page 3 of the filed PDF · View the filing
Gross profit: INR 114 crores (Q1 FY27)
p. 4
“Gross profit increased to INR 114 crores, with gross margin remaining healthy at 27%.”
Rigan Raithatha, page 4 of the filed PDF · View the filing
EBITDA: INR 31.5 crores (Q1 FY27)
p. 4
“EBITDA for the quarter stood at INR 31.5 crores, more than doubling over the corresponding quarter of the previous year, with EBITDA margin improving to 7.4% as compared to 4.7% in Q1 FY26.”
Rigan Raithatha, page 4 of the filed PDF · View the filing
Profit before tax: INR 18.6 crores (Q1 FY27)
p. 4
“Profit before tax increased to INR 18.6 crores as compared to INR 5.3 crores in the corresponding quarter of the last year, reflecting the improvement in the operating performance.”
Rigan Raithatha, page 4 of the filed PDF · View the filing
PAT: INR 12.8 crores (Q1 FY27)
p. 4
“As there is no exceptional items during the quarter, the PAT after tax stood at INR 12.8 crores.”
Rigan Raithatha, page 4 of the filed PDF · View the filing
Distributor count: over 1,000 distributors (Q1 FY27)
p. 3
“We expanded our distributor base to over 1,000 distributors while continuing to deepen our presence across”
Naveen Gupta, page 3 of the filed PDF · View the filing
Trade discount: 2.5% (Q1 FY27)
p. 7
“Yes. Current quarter it is 2.5%.”
Rigan Raithatha, page 7 of the filed PDF · View the filing
Raw material inflation impact: 5%, of which 4.2% passed on and 0.8% absorbed (Q1 FY27)
p. 8
“If we talk about inflation, so total inflation which hit us in terms of raw material, it was 5%, out of which 4.2% we have passed on to the consumers and 0.8% sit as an hit to our P&L in the current quarter.”
Rigan Raithatha, page 8 of the filed PDF · View the filing
UP market growth: 41% YoY (Q1 FY27)
p. 9
“Y-o-Y 41%. Soham-bhai.”
Naveen Gupta, page 9 of the filed PDF · View the filing
Retail touchpoints: 5.25 lakhs to 5.5 lakhs outlets
p. 12
“So as on date, as a brand, we are available somewhere between 5.25 lakhs to 5.5 lakhs outlets.”
Naveen Gupta, page 12 of the filed PDF · View the filing
A&P spending: 1% of top line (Q1 FY27)
p. 13
“In Q1, our spending is around 1% of the top line.”
Rigan Raithatha, page 13 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue growth — minimum 20% growth · FY27
stated firmly by Naveen Gupta
p. 5
“So, we strongly stand by our earlier guidance given of, you know, minimum 20% growth in this financial year over last year.”
Naveen Gupta, page 5 of the filed PDF · View the filing
EBITDA margin — 8% to 9% · FY27
stated firmly by Rigan Raithatha
p. 6
“So as we say, our EBITDA margin for the full financial year would be between 8% to 9%.”
Rigan Raithatha, page 6 of the filed PDF · View the filing
Revenue — INR 1,800 crores to 1,900 crores · FY27
stated firmly by Rigan Raithatha
p. 9
“So Resha-ji, for the full financial year, in terms of top line increase, we said we would be ending somewhere between INR 1,800 crores to 1,900 crores.”
Rigan Raithatha, page 9 of the filed PDF · View the filing
EBITDA margin exit rate — close to double-digit · FY27 exit
stated firmly by Rigan Raithatha
p. 9
“And as far as EBITDA margin is concerned, it's between full year average between 8% to 9% with an exit run rate close to double-digit.”
Rigan Raithatha, page 9 of the filed PDF · View the filing
Sustainable EBITDA margin — 11% to 11.5%
stated as an aspiration by Rigan Raithatha
p. 11
“The sustainable EBITDA margins which we are targeting is somewhere around 11% to 11.5%, that's what is sustainable EBITDA margins we are targeting.”
Rigan Raithatha, page 11 of the filed PDF · View the filing
EBITDA margin ramp-up — exit run rate close to 11% · mid of FY28-29
stated as an aspiration by Rigan Raithatha
p. 11
“See, it will ramp up gradually. As we said, this year our EBITDA margins will be 8% to 9% with an exit run rate close to double-digit.”
Rigan Raithatha, page 11 of the filed PDF · View the filing
Core market run rate — INR 100-plus crores per month
stated firmly by Naveen Gupta
p. 12
“See from here onwards, we are targeting INR 100-plus crores per month.”
Naveen Gupta, page 12 of the filed PDF · View the filing
Retail touchpoint expansion — 6 lakh outlets · end of this year
stated firmly by Naveen Gupta
p. 12
“So by end of this year, we'll definitely be present at 6 lakh outlets.”
Naveen Gupta, page 12 of the filed PDF · View the filing
A&P spending — 2.2% on annualized basis
stated conditionally by Naveen Gupta
p. 13
“We had budgeted in fact 2.2% on annualized basis, but in case there is some ease out in inflationary pressure, we will increase our spending on A&P.”
Naveen Gupta, page 13 of the filed PDF · View the filing
Revenue CAGR — minimum 20% CAGR
stated firmly by Naveen Gupta
p. 16
“So, Adarsh-Bhai, in the current year, we are maintaining our stand of giving annualized growth of 20% plus, and subsequently also we continue to maintain our stand of delivering minimum 20% CAGR on revenue front.”
Naveen Gupta, page 16 of the filed PDF · View the filing
EBITDA margin FY28 — 10% to 11% with exit near 11% · FY27-28
stated firmly by Rigan Raithatha
p. 16
“Similarly, next year, which would be next it would be FY27-28, somewhere around 10% to 11% with an exit to near to 11%.”
Rigan Raithatha, page 16 of the filed PDF · View the filing
PAT margin — 7% to 7.5% · FY27-28
stated firmly by Rigan Raithatha
p. 16
“And in terms of PAT margin, it would be around 7% to 7.5%.”
Rigan Raithatha, page 16 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management confirmed a run rate above INR 150 crores per month and reiterated minimum 20% growth guidance for the year.
Answered by Naveen Gupta
Asked by Nitin: Does the company hold on to its FY27 revenue guidance and what is the monthly run rate?
p. 5
“Nitin bhai, our current run rate is INR 150 crores plus.”
Naveen Gupta, page 5 of the filed PDF · View the filing
Management said the INR 5 SKU salience decline is deliberate and not industry-wide, and they retain flexibility on grammage.
Answered by Naveen Gupta
Asked by Nitin: How is the salience of the INR 5 SKU trending and is there a deliberate shift?
p. 6
“Not at all visible as such. Not at all.”
Naveen Gupta, page 6 of the filed PDF · View the filing
38% of outlets now receive double service weekly, with run-rate improvements varying by distributor capability.
Answered by Naveen Gupta
Asked by Anuj D.: How is the biweekly double-servicing initiative progressing in core markets?
p. 6
“Anuj-Bhai, as on date, when we speak, 38% of outlets are getting double service in a week.”
Naveen Gupta, page 6 of the filed PDF · View the filing
Trade discounts came down to 2.5% from 3.5%, and total inflation impact was 5%, of which 4.2% was passed through.
Answered by Resha Mehta
Asked by Resha Mehta: Have trade spends been reduced and what is the effective price hike taken so far?
p. 8
“So Q2 has seen further 100 bps addition in terms of inflation, right? That's what you're trying to say?”
Resha Mehta, page 8 of the filed PDF · View the filing
Management said they expect the claim to be resolved in Q2, pending processing by the insurance company.
Answered by Rigan Raithatha
Asked by Resha Mehta: Is the insurance claim from the fire incident on track for Q2?
p. 9
“We are expecting those things to fall in Q2. However, since this is coming from the insurance company, from the PSUs, but we are quite confident enough because whatever necessary documents were required already submitted to the insurance company and the process is going very strongly.”
Rigan Raithatha, page 9 of the filed PDF · View the filing
Management explained some Nagpur-mapped distributors were shifted to Modasa for logistics benefits, pressuring Nagpur utilization, while distributor additions continue.
Answered by Naveen Gupta
Asked by Soham Samanta: What is the capacity utilization situation at the Nagpur plant and the reasons behind it?
p. 10
“So that continues to put pressure on Nagpur plant in terms of lower utilization, lower capacity utilization.”
Naveen Gupta, page 10 of the filed PDF · View the filing
Management targets sustainable EBITDA margins of around 11% to 11.5%.
Answered by Rigan Raithatha
Asked by Saurabh Beria: What is the sustainable EBITDA margin target once Rajkot ramps up fully?
p. 11
“The sustainable EBITDA margins which we are targeting is somewhere around 11% to 11.5%, that's what is sustainable EBITDA margins we are targeting.”
Rigan Raithatha, page 11 of the filed PDF · View the filing
Current DMS-covered touchpoints are 4,24,000 nationally, with total outlet presence estimated between 5.25-5.5 lakh, targeting 6 lakh by year end.
Answered by Naveen Gupta
Asked by Abhishek Mathur: What is the current retail touchpoint reach and expansion plan?
p. 12
“As of now, our retail touchpoints through the distributor who are on completely our DMS is 4,24,000 on national basis.”
Naveen Gupta, page 12 of the filed PDF · View the filing
Management said no major impact was seen on regional brands in core states, though two national brands shut down, with one restarting.
Answered by Naveen Gupta
Asked by Shirish Pardeshi: How have regional and unorganized competitors behaved amid inflation?
p. 14
“And coming to the national level, we noticed two brands got shut. One was based out of Rajasthan, Nathdwara, called Miraj brand. Another was Ghodawat Group brand Star brand, based out of Kolhapur.”
Naveen Gupta, page 14 of the filed PDF · View the filing
Management reiterated 20%+ revenue CAGR, 8-9% EBITDA margin this year rising to 10-11% next year, and 7-7.5% PAT margin.
Answered by Rigan Raithatha
Asked by Adarsh Mishra: What are the future revenue growth, EBITDA and PAT margin numbers?
p. 16
“Our EBITDA margin, as we said, this year it is a range of 8% to 9% with an exit to double-digit.”
Rigan Raithatha, page 16 of the filed PDF · View the filing
Risks flagged
Raw material price inflation not fully passed on to consumers, hitting P&L
p. 8
“If we talk about inflation, so total inflation which hit us in terms of raw material, it was 5%, out of which 4.2% we have passed on to the consumers and 0.8% sit as an hit to our P&L in the current quarter.”
Rigan Raithatha, page 8 of the filed PDF · View the filing
Lower capacity utilization at Nagpur plant due to distributor remapping
p. 10
“So that continues to put pressure on Nagpur plant in terms of lower utilization, lower capacity utilization.”
Naveen Gupta, page 10 of the filed PDF · View the filing
Continuing gap between raw material inflation and price pass-through into Q2
p. 15
“And considering the current raw material prices, another 0.2%, 0.3% still there is an hit, which we will definitely pass on to the consumer.”
Rigan Raithatha, page 15 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.