India’s Packaged Food Market to Reach Rs 17.12 Lakh Crore: Can Gopal Snacks Benefit from the Shift Towards Branded Foods?

India's packaged food market is projected to reach Rs 17.12 lakh crore by FY29 at an 11% CAGR from Rs 10.18 lakh crore in FY24.

The unorganised sector accounts for 81% of the Indian packaged food market, with formalisation shifting revenue to branded players like Gopal Snacks.

Gopal Snacks is India's largest gathiya manufacturer in the organised segment, with an 18% market share in the organised gathiya market.

The Rajkot plant fire on December 11, 2024 caused Gopal Snacks' operating profit margin to drop from 14% in FY23 to 7% in FY25 and FY26.

Despite financial stress, HDFC Securities and Antique Stock Broking initiated coverage on Gopal Snacks with buy ratings and target prices of Rs 360 and Rs 425 respectively.