At the 54th GST Council meeting on Monday, FM announced reduction in the GST rate on selected namkeen snacks or savoury items to 12% from 18% earlier.
The company is trying to reduce its dependence on the ₹5 price-point from 85% to 60% in the next three years. It also saved 5%-6% by rationalising its distribution network and process optimisation.
Indore-based Prataap Snacks has grown to become India’s sixth-largest packaged snack maker thanks to its smart pricing that appeals to customers.
Editor’s letter from the 15 June -14 Sept 2018 special issue.
