Gopal Snacks Ltd - Stock Valuation and Financial Performance

Gopal Snacks Limited was initially formed as a partnership firm as ‘Gopal Gruh Udhyog’ at Rajkot, India with effect from April 1, 1999. The partnership firm was registered under the Partnership Act, 1932 with the Registrar of Firms, Rajkot Division, Rajkot on October 19, 2006. The name of the partnership firm was changed to ‘Gopal Snacks’ with effect from November 23, 2009, and the same was recorded by the Registrar of Firms, Rajkot Division, Rajkot on November 30, 2009. The partnership firm was subsequently converted into a joint stock company and registered as a private limited company under the Companies Act, 1956 under the name ‘Gopal Snacks Private Limited’ pursuant to a certificate of incorporation dated December 7, 2009, issued by the Registrar of Companies, Gujarat, Dadra and Nagar Haveli. Subsequently, the Company was converted into a public limited company pursuant to a special resolution passed by its Shareholders in its EGM held on March 15, 2023, following which the name of the Company was changed to ‘Gopal Snacks Limited’, and the RoC issued a fresh certificate of incorporation on March 31, 2023.

The company is primarily engaged in the business of manufacturing and sale of namkeen, gathiya, papad, western snacks such as wafers, corn snacks and snack pellets. The company offers a wide variety of savoury products under its brand ‘Gopal’, including ethnic snacks such as namkeen and gathiya, western snacks such as wafers, extruded snacks and snack pellets, along with fast-moving consumer goods that include papad, spices, gram flour or besan, noodles, rusk and soan papdi. Over the years, the company has leveraged its experience and understanding of the preferences and tastes of its consumers, and target markets to develop a wide range of products, which has enabled it to strengthen its foothold in the Indian snacks industry.

The company has expanded its footprint across India, with its products being sold over many locations. It also relies on channels such as ecommerce, modern trade and exports for sale of its products. It has implemented a distribution management system that helps it coordinate with its distributors and provides visibility on its inventory levels and distributor sales, enabling it to optimise its distribution network. It also offers real-time insights on demand for its products, allowing it to make data-driven decisions, plan its operations and meet demands of its consumers in a timely and effective manner. 

In addition, the company engages third party manufacturers on a need basis to produce its products such as chikki, nachos, noodles, rusk, soan papdi and washing bar. Its manufacturing operations are vertically integrated which include in-house manufacturing capabilities of certain key ingredients such as besan or gram flour, raw snack pellets, spices and seasoning, as well as the ability to tailor machines to its specific needs for manufacturing of its product portfolio.

Business area of the company

The company is engaged in the business of manufacturing various types of ready-to-eat namkeens, snack pallets, corn products, potato chips, papad, besan, spices, etc.

Products of the company

Ethnic snacks

• Gathiya
• Namkeen

Western snacks

• Snack pellets
• Wafers
• Extruded snacks

Other products

• Papad 
• Besan
• Spices 

Awards, accreditations and recognitions

• 2022: Recognition on successful ‘Go-live of S/4 HANA (on premise)’ by SAP.

History and milestones

• 2009: Incorporation of the Company pursuant to the conversion of the partnership firm, ‘Gopal Snacks’.
• 2010: The Company commenced operations at its first primary manufacturing facility in Rajkot, Gujarat, which is spread over 0.22 million square feet.
• 2015: The Company commenced in-house automation and engineering.
• 2017: The Company commenced backward integration of logistics vehicle engineering and customization by setting up the engineering and fabrication facility at Rajkot, Gujarat
• 2018: The Company commenced operations at its manufacturing facility in Nagpur, Maharashtra which is spread over 1.44 million square feet.
• 2018: The Company strengthened backward integration by manufacturing of besan at the ancillary facility in Rajkot, Gujarat.
• 2019: The Company further expanded its backward integration by manufacturing of raw snacks pellet and spices at another ancillary facility in Rajkot, Gujarat
• 2021: The Company commenced operations at its primary manufacturing facility in Modasa, Gujarat which is spread over 0.68 million square feet.
• 2022-2023: The Company’s revenue from operations crossed Rs 1,300 crore in Fiscal 2023.
• 2022-2023: The Company set up an ancillary manufacturing facility in Modasa, Gujarat to manufacture raw snack pellets.