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Elite Foods posts Rs 822.55 crore operating income in FY23 without raising any external funding
Our read
Elite Foods is likely to extend its self-funded growth for another year, with operating income above Rs 822.55 crore and no outside capital raised.
For operators
Elite Foods grew FY23 operating income to Rs 822.55 crore from Rs 698.76 crore in FY22 on nine factories and 212 SKUs under the Elite brand, so regional bakery and packaged-food operators should expect tougher competition for shelf space and distribution from a broad range with its own manufacturing.
Watch
Any announcement of a tenth factory or a major capacity expansion
The report,
Elite Foods, the Thrissur-based Kerala bakery founded in 1986, reported Rs 822.55 crore operating income in FY23, up over 17% from Rs 698.76 crore in FY22. It has nine factories, sells more than 150 products and has never raised external funding.
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Reported figures
From the report. Source details below
| FY23 profit: | Rs 26.69 crore |
|---|---|
| Factories across India: | nine |
What to watch next
- FY24 operating income against the Rs 822.55 crore base, and whether growth stays near 17%
- FY24 profit compared with Rs 26.69 crore
- Any equity raise, investor entry or large new borrowing
- SKU count moving past 212 or new launches outside bakery
The source
First seen