Haldiram grown twice the size of Hindustan Unilever’s packaged food division
Haldiram’s is the biggest brand of those launched by Agarwals and the second largest Indian food brand after Parle.
Desi halwai and snacks maker Haldiram’s revenues grew 13 percent to cross Rs 4,000 crore in FY16 shrugging increased scrutiny from food regulator amid the Maggi crisis. The Indian snack major is now twice the size of Hindustan Unilever’s packaged food division or Nestle Maggi and larger than the India turnover of the two American fast food rivals Domino’s and McDonald’s put together.
The company has three distinct areas of operations with Haldiram Snacks and Ethnic Foods with that clocked Rs 2,136 crore from the northern region, Nagpur based Haldiram Foods International that caters to western and southern markets with annual sales of Rs 1,613 crore and a much smaller company, Haldiram Bhujiawala, for the eastern market with revenues of Rs 298 crore in FY16, according to data from Tofler, a company research platform.
These figures, when combined with other regional snacking firms, conclusively demonstrates one thing — in fast food or munchies, despite the profusion of MNC brands with high cool quotient, good Indian palate prefers local savouries.
Komal Agarwal, fourth generation member of the founding family, said, “We have increased our reach and developed products in-house that ensure quality control. We also understand Indian palate well and that comes handy while launching new products.”
Haldiram races past MNCs & regional rivals like HUL’s food division, Bikanervala with revenue of over Rs 4,000 crore.
Haldiram’s is the biggest brand of those launched by Agarwals and the second largest Indian food brand after Parle. While restaurants and casual dining was the beginning, packaged products now make up 80 percent of revenues. Haldiram’s is by far the market leader in traditional snacks market and bigger than five of its regional rivals — Balaji Wafers, Prataap Snacks, Bikanervala, Bikaji Foods and DFM Foods — combined.
Devendra Chawla, President of Future Group, said, “Food is culture in the country and Indian food should do well. But consumers are experimenting with food and it is under scrutiny. Companies would have to adapt and stay relevant especially for millennials.”
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