The maker of Parle-G and Hide & Seek Biscuits posted a total expenditure for the financial year of Rs. 12,979 crore was recorded, according to Toffler.
Parle Biscuits, which competes with Britannia and ITC, is a subsidiary of Parle Products.
The biscuit maker’s advertising and promotional spend in FY24 increased by 3.23% to Rs. 442.81 crore, which was Rs. 428.93 crores.
Parle Biscuit said in a filing that FY24 was “complete and promising”. “The company continues to aggressively pursue new opportunities in the biscuit and confectionery segment,” it added.
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FMCG companies are hoping for a revival in demand next year after a prolonged period of sluggishness, especially in urban markets. India’s FMCG market grew 4.3% year-on-year in October, led by rural demand, but sales fell 4.8% in November, according to data from retail intelligence platform Bizom.
Citing sharp inflation in commodities like wheat flour, edible oil, coffee and cocoa, most major companies selling staples and daily essentials have said they are raising prices from this month. According to FMCG distributors, most packs are being hiked, unlike earlier when only large packs were being hiked. Company executives said they were optimistic that prices of some commodities, such as edible oil, would stabilize in the next few months.
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