The maker of Parle-G and Hide & Seek biscuits, reported total expenses for the fiscal year at Rs 12,979 crore, according to Tofler.
Parle Biscuits, which competes with Britannia and ITC, is a subsidiary of Parle Products.
The biscuit maker’s advertising and promotional expenses in FY24 increased 3.23% to Rs 442.81 crore, from Rs 428.93 crore a year ago, according to the filings.
Parle Biscuits said FY24 “was fulfilling and promising”, in the filings. “The company continues to aggressively pursue new opportunities in the field of biscuits and confectionery,” it added.
FMCG companies are pinning hopes on the revival in demand next year, after a prolonged period of slowdown specially in urban markets. According to data by retail intelligence platform Bizom, India’s FMCG market grew 4.3% year-on-year in October led by rural demand, but November sales declined 4.8%.Most large companies selling staples and daily essentials have said they are increasing prices starting this month, citing steep inflation of commodities such as wheat flour, edible oils, coffee and cocoa. According to FMCG distributors, the price hikes are being undertaken across most packs, unlike previously when only larger packs have seen price increases. Company executives said they are hopeful that costs of some commodities such as edible oils would stabilise over the next few months.
