GOPALSNACKS Consumer 15 May 2026

Gopal Snacks Ltd — Q4 FY26

Q: What was Gopal Snacks's revenue in Q4 FY26?

Gopal Snacks reported revenue of ₹410 Cr in Q4 FY26, a +29% change year-over-year.

Gopal Snacks reported a strong Q4 FY26 with revenue of ₹409.6 crore, up 29% YoY, driven by improved product availability, stabilization of the Modasa facility, and distribution expansion (953 distributors vs 884 in Q3).

bullish high

Revenue ₹410 Cr +29%

EBITDA ₹32 Cr

PAT ₹30 Cr

EBITDA Margin 7.7%

Duration 58 min

Read Time 1 min read

Financial stats pending filing verification

2-Minute Summary

✦ AI-Generated from Full Transcript

Gopal Snacks reported a strong Q4 FY26 with revenue of ₹409.6 crore, up 29% YoY, driven by improved product availability, stabilization of the Modasa facility, and distribution expansion (953 distributors vs 884 in Q3). EBITDA margin improved to 7.7% aided by operating leverage and stable input costs. PAT stood at ₹29.9 crore. Management guided for FY27 revenue delta of ₹330-350 crore and EBITDA margin of 8-9%, with exit rate near double digits. Key growth drivers include double-service beat coverage expansion in Gujarat, 250 new distributor additions, and ramp-up of the Rajkot facility. Risks include raw material inflation (palm oil, packaging up 15-20%) and potential El Niño impact on rural demand in H2.

Key Numbers

Distributor Count 953

+69 QoQ

Distribution network expanded from 884 in Q3 to 953 in Q4, supporting market reach.

Double-Service Beat Coverage (Gujarat) 29%

+5pp QoQ

Percentage of beats serviced twice a week in Gujarat increased from 24% in Q3 to 29% in Q4.

Uttar Pradesh Monthly Run Rate ₹6.5 crore

+26% H2 vs H1

UP monthly sales run rate improved to ₹6.5 crore in Q4, with H2 growing 26% over H1.

New Product Contribution (Popcorn & Kaju Biscuit) ₹63 crore

+38% YoY

New products contributed ₹63 crore in FY26, with ~₹50 crore incremental from popcorn and kaju biscuit.

Management Guidance

FY27 Revenue Delta of ₹330-350 crore

Management expects incremental revenue of ₹330-350 crore in FY27, driven by Gujarat (₹170-180 crore), focus states (₹125-130 crore), and other channels (₹35 crore).

Management guidance revenue

FY27 EBITDA Margin Guidance of 8-9%

Management reiterated EBITDA margin guidance of 8-9% for FY27, with exit run rate near double digits, supported by operational leverage and Rajkot plant benefits.

Management guidance margins

Capex of ₹42-45 crore for FY27

Capital expenditure for FY27 is planned at ₹42-45 crore, primarily for maintenance and corporate office building at Rajkot.

Management guidance capex

Advertisement Spend to Increase to 2.2-2.3% of Sales

Advertisement spend is projected to rise from 1.7% in FY26 to 2.2-2.3% in FY27 to support brand building.

Management guidance growth

Key Risks

Raw Material Inflation Impact on Margins

Palm oil and packaging costs have risen 15-20%, impacting input costs by ~4.5%. Management has partially offset via grammage reduction and price hikes, but further inflation could pressure margins.

high · management_commentary

El Niño Impact on Rural Demand and Raw Material

Analyst raised concern about potential El Niño leading to 7-8% rainfall deficit, which could affect rural consumption and pulse prices in H2 FY27. Management downplayed risk citing sufficient chana stock till November.

medium · analyst_question

Market Share Recovery Slower Than Expected

Despite supply chain normalization, market share recovery is gradual. Management noted improved run rate from March but did not quantify regained share, indicating uncertainty.

medium · data_observation

Finance Cost Increase Due to Higher Working Capital

Working capital increased due to inventory buildup of chana. Finance cost expected to rise from ~₹7 crore in FY26 to ~₹10 crore in FY27, impacting profitability.

low · management_commentary

Notable Quotes

We are aiming a delta of roughly 330 to 350 crores.

Naven Gupta · Chief Business Officer

We are quite confident that our exit run rate would be near to double digit although average annualized EBITDA margin will continue to remain 8 to 9%.

Regan Rahata · Chief Financial Officer

Improving market share, protecting market share is to be paramount for us.

Naven Gupta · Chief Business Officer

Frequently Asked Questions

What was Gopal Snacks's revenue in Q4 FY26?

Gopal Snacks reported revenue of ₹410 Cr in Q4 FY26, representing a +29% change compared to the same quarter last year.

What guidance did Gopal Snacks management give for FY27?

FY27 Revenue Delta of ₹330-350 crore: Management expects incremental revenue of ₹330-350 crore in FY27, driven by Gujarat (₹170-180 crore), focus states (₹125-130 crore), and other channels (₹35 crore). FY27 EBITDA Margin Guidance of 8-9%: Management reiterated EBITDA margin guidance of 8-9% for FY27, with exit run rate near double digits, supported by operational leverage and Rajkot plant benefits. Capex of ₹42-45 crore for FY27: Capital expenditure for FY27 is planned at ₹42-45 crore, primarily for maintenance and corporate office building at Rajkot. Advertisement Spend to Increase to 2.2-2.3% of Sales: Advertisement spend is projected to rise from 1.7% in FY26 to 2.2-2.3% in FY27 to support brand building.

What are the key risks for Gopal Snacks in FY27?

Key risks include Raw Material Inflation Impact on Margins — Palm oil and packaging costs have risen 15-20%, impacting input costs by ~4.5%. Management has partially offset via grammage reduction and price hikes, but further inflation could pressure margins.; El Niño Impact on Rural Demand and Raw Material — Analyst raised concern about potential El Niño leading to 7-8% rainfall deficit, which could affect rural consumption and pulse prices in H2 FY27. Management downplayed risk citing sufficient chana stock till November.; Market Share Recovery Slower Than Expected — Despite supply chain normalization, market share recovery is gradual. Management noted improved run rate from March but did not quantify regained share, indicating uncertainty.; Finance Cost Increase Due to Higher Working Capital — Working capital increased due to inventory buildup of chana. Finance cost expected to rise from ~₹7 crore in FY26 to ~₹10 crore in FY27, impacting profitability..

Did Gopal Snacks meet its previous quarter's guidance?

Scorecard data is being built as historical quarters are processed.

Where can I read the full Gopal Snacks Q4 FY26 concall transcript?

The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.