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vishakha Jangir
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Set2Score • 3m
𝗛𝗼𝘄 𝗱𝗶𝗱 𝘁𝗵𝗶𝘀 𝗰𝗼𝗺𝗽𝗮𝗻𝘆 𝗼𝘂𝘁𝗽𝗲𝗿𝗳𝗼𝗿𝗺 𝗯𝗶𝗴 𝗽𝗹𝗮𝘆𝗲𝗿𝘀 𝗹𝗶𝗸𝗲 𝗟𝗮𝘆’𝘀? It's Balaji wafers. Founded in 1974 by brothers Chandubhai, Bhikhu bhai, and Kanubhai Virani, who initially managed a canteen at Astron Cinema in Rajkot, Gujarat. Started producing potato wafers at home, distributing locally around Rajkot. Established their first production facility in 1989 near Rajkot at Aji G.I.D.C. Incorporated as Balaji Wafers Private Limited in 1992, expanding operations with multiple facilities. Achieved annual sales of ₹5,010 crore in the fiscal year ending March 2023, reflecting 24% growth from the previous year. Recorded a net profit of ₹409 crore in FY23, a significant increase from ₹7.2 crore in the prior year. Holds approximately 65% market share in the organized snack segment across Gujarat, Maharashtra, and Rajasthan. Employs around 5,000 individuals as of October 2024. Operates four manufacturing facilities, maintaining control over production processes. Spends less than 2% of annual sales on advertising and promotions, relying on product quality and word-of-mouth. Offers products priced 20-30% lower than national brands, appealing to price-sensitive consumers. Provides larger pack sizes at competitive prices, e.g., a 35g pack of salted potato chips for ₹10, compared to competitors' 23g packs at the same price. Focuses on regional flavors and preferences, introducing products that resonate with local tastes. Declined acquisition offers from multinational companies, choosing to remain independent and focused on their growth strategy. Established a direct distribution network with small distributors, avoiding multi-layered costs. Ensured availability in local kirana stores, even in remote areas where Lay’s had limited reach. Follow vishakha Jangir for more such business insights.
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