Parle Biscuits has posted a 38% increase in net sales this end of the fiscal year. The company witnessed the highest growth in a decade as consumers began stocking up on packaged food items at home due to COVID-19.
The Parle Products flagship, which includes retail brands such as Parle G, Monaco and Melody posted a sale of Rs 13,862 crores during the previous financial year, and also outdrove the competitive companies such as Britannia and Nestle to become the biggest food company in terms of annual revenue. A year ago, Parle was the third-largest food firm with sales of around Rs 9, 946 crores.
Mayank Shah, Senior Category Head, Parle Products stated on the surge in the sales “Seamless supply despite disruptions helped achieve one of the highest sales growth for the company in recent years.”
Britannia too posted a 13% sales expansion during the last fiscal year, which included an eight-year high growth rate of 25% in the first quarter alone. The Rs 5 pack of Parle-G has become the second Indian FMCG brand to cross the $1- Billion mark in retail sales in a year, after Haldiram.