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Margin expansion may be slower than guided
View Risks →Gopal Snacks Limited — Q3 FY26
Gopal Snacks reported Q3 FY26 revenue of ₹400.8 crore, up 6.7% sequentially, driven by strong demand in snack pellets (+20.8% QoQ) and gatia (+10.6% QoQ).
bullish
high
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2-Minute Summary
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Gopal Snacks reported Q3 FY26 revenue of ₹400.8 crore, up 6.7% sequentially, driven by strong demand in snack pellets (+20.8% QoQ) and gatia (+10.6% QoQ). EBITDA margin improved to 7.6% aided by lower trade discounts and product mix optimization. The Modasa facility is now fully operational, resolving supply chain disruptions from the fire incident. Management guided FY27 revenue of ₹1,800-1,850 crore (20%+ growth) and EBITDA margin of 8-9%, with exit rate near double-digit. Key growth drivers include adding 250-300 new distributors, marketing campaigns (TV/digital), and wafer category recovery. Risk: slower-than-expected margin expansion if raw material costs rise or marketing spend escalates.
गोपाल स्नैक्स ने तीसरी तिमाही में 400.8 करोड़ रुपये का कारोबार किया, जो पिछली तिमाही से 6.7% ज्यादा है। इसकी वजह स्नैक पेलेट्स और गटिया की जबरदस्त मांग रही। कंपनी का मुनाफा (EBITDA) 7.6% रहा, क्योंकि उसने छूट कम की और प्रोडक्ट मिक्स सुधारा। मोडासा फैक्ट्री अब पूरी तरह चालू है, जिससे आग लगने के बाद की सप्लाई की समस्या खत्म हो गई। कंपनी को अगले साल 1,800-1,850 करोड़ रुपये का कारोबार और 8-9% मुनाफा होने की उम्मीद है। वह 250-300 नए डीलर जोड़ेगी, टीवी-डिजिटल विज्ञापन करेगी और वेफर बाजार में वापसी करेगी। खतरा: अगर कच्चे माल के दाम बढ़े या विज्ञापन पर ज्यादा खर्च हुआ, तो मुनाफा उम्मीद से कम हो सकता है।
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Read Transcript →Quarter Snapshot
Snack pellets revenue growth (QoQ)
20.8%
+20.8% QoQ
Strong sequential growth in snack pellets segment, driven by improved supply chain and demand.
Gatia revenue growth (QoQ)
10.6%
+10.6% QoQ
Gatia segment grew 10.6% sequentially, supported by marketing and distribution expansion.
Fill rate
93%
N/A
Fill rates improved to 93% post Modasa ramp-up, indicating near-normal supply chain.
New distributor target (CY25)
250-300
N/A
Management targets adding 250-300 new distributors in calendar 2025 to drive non-Gujarat growth.
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Guidance and risk preview
Management expects FY27 revenue in the range of ₹1,800-1,850 crore, implying ~20% growth over estimated FY26 revenue of ~₹1,500 crore.
Management's FY27 EBITDA margin guidance of 8-9% was questioned as conservative; actual margin improvement depends on raw material stability and ma...
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