Gopal Snacks Ltd

Q2 FY26

Gopal Snacks Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹282

Market cap₹3.4K Cr

P/E76.9

Updated23 Aug 2026

Read4 min read

The short version

Gujarat market aims to increase both width and depth of distribution, targeting a 30-40% jump in throughput per outlet over the next 2 years. Capacity utilization is currently 41-45% and expected to reach 70% in around 2 to 2.5 years, supporting growth.

From Gopal Snacks Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Gujarat market aims to increase both width and depth of distribution, targeting a 30-40% jump in throughput per outlet over the next 2 years.
Aspiration to exceed monthly sales run rate of INR 125 crore in Gujarat within 2-3 years.
Strengthening footprint around Nagpur (non-core state) within a 350 km radius; setting up small hubs in Uttarakhand and Hiriyur to expand distribution without heavy capex.
Accelerated product additions with all products to be manufactured at Modasa plant by end-November 2025, improving supply chain and enabling growth.
Expected increase in revenue growth post supply chain normalization and commissioning of Modasa plant products.
Introduction of new categories like wafers, wafer biscuits, popcorn, and non-palm oil-based products anticipated to enhance realizations and volumes.
E-commerce and modern trade channels showing steady growth, with e-commerce sales increasing from INR 37 lakhs to INR 1.92 crores over six quarters.
Capacity utilization expected to reach around 70% by FY 2027, supporting volume growth.

Profitability & Margins

Capacity utilization is currently 41-45% and expected to reach 70% in around 2 to 2.5 years, supporting growth.
Modasa plant commissioning delayed but now adding products; full benefit reflected in Q4 FY26, aiding revenue growth.
H2 FY26 revenue expected to exceed H1's INR 700 crores, indicating improvement.
EBITDA margins expected to improve due to operational efficiency, cost control, and better product mix; previous guidance was 8-9% by Q4 but may be reassessed.
Realizations projected to improve by 1-1.5% due to GST benefits, new product launches (popcorn, wafer biscuits, non-palm oil products).
Inorganic growth expected via acquisitions (up to INR 200 crores), focused on food business mainly in Gujarat but outside Namkeen segment.
Insurance claim from Rajkot fire (INR 20 crores received) will provide exceptional income supporting profits in the near term.
Subsidy incomes expected to continue for around 3 years, adding to profitability.

See what Gopal Snacks Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex of INR 30-35 crores for the Modasa plant is ongoing, with some pending amount yet to be completed.
Capex of INR 20 crores planned for Rajkot plants, currently under process with some delay but on track.
Installation of a besan plant in Nagpur is underway; no further capex required at the moment.
No significant additional capacity expansion planned beyond current investments.
Strategic focus on acquisitions up to INR 200 crores, primarily in food business sectors related to current operations, mostly within Gujarat but not in the Namkeen category.
Expansion through third-party tie-ups in Uttarakhand and Karnataka to strengthen footprint without heavy capex.
Future funding for acquisitions and capex will be updated when finalized, could be via internal accruals or debt.

Fundraising & Capital Structure

The company is currently evaluating acquisition targets but has not finalized any deals yet.
Once finalized, the management will provide a complete update on how the funding for acquisitions will be arranged.
There is no specific mention of immediate plans for fundraising through debt or equity in the near term.
Promoter holding stands at 81%, with SEBI guidelines requiring it to come down to 75%, but no explicit plans about equity dilution were disclosed.
Overall, funding strategy details will be communicated once acquisition targets and plans are finalized.

See what Gopal Snacks Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript and document from Gopal Snacks Limited do not explicitly mention the current or expected order book or pending orders directly. However, from the discussions, the following relevant points can be inferred: - Supply chain disruptions have affected order fulfillment, particularly due to staggered product availability from multiple plants (Modasa, Gondal, Nagpur). - Modasa plant commissioning is expected to help smooth supply chain issues and increase production, with all products planned to be manufactured from Modasa by end November 2025. - Ramp-up in supply chain and plant operations is expected to result in improved order fulfillment, reducing disruptions by approximately 90%. - E-commerce and modern trade channels have shown progressive growth, indicating improving order inflows in these segments. - The management is focusing on stabilizing and expanding distribution, especially in Gujarat and emerging markets, which may increase order volumes. - No specific quantitative figures on orderbook or pending orders were disclosed.

Gopal Snacks Ltd — Quarterly revenue & net profit

Revenue Net profit Net loss

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹410 Cr, net profit ₹30 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What Gopal Snacks Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Gopal Snacks Ltd Q2 FY26 results?

What is Gopal Snacks Ltd share price analysis?

Gopal Snacks Ltd currently shows a neutral. The stock trades at a P/E of 76.9 with a market cap of ₹3,423 Cr. Investors should review the full earnings analysis for detailed insights.

Is Gopal Snacks Ltd planning capital expenditure?

Capex of INR 30-35 crores for the Modasa plant is ongoing, with some pending amount yet to be completed.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.