GreenDot Health Foods, the parent company of the popular snack brand Cornitos, has set an ambitious revenue target of Rs. 140 crore for the current fiscal year (FY25). The company also expects to grow by Rs. 40 crore in the next financial year (FY26), driven by strategic investments in production capacity, product innovation, and market expansion.
Vikram Agarwal, Managing Director of Greendot Health Foods, revealed that the company closed the previous fiscal year with Rs. 119 crore in revenue. While the company did not achieve positive EBITDA last year due to strategic adjustments, Agarwal stated that this fiscal year will see double-digit positive EBITDA.
Cornitos, the flagship brand, contributes 60% of the company’s revenue, while other products like Crusties, dry fruits, dips, and tortilla wraps make up the remaining 40%. Recently, the company revamped its Crusties brand, introducing healthier ingredients such as lentils, beans, chickpeas, and potatoes. Agarwal highlighted that Crusties, which currently contributes 5% to revenue, is expected to account for 20% of revenue starting next fiscal year.
To support this growth, GreenDot Health Foods has invested Rs 10 crore in a manufacturing facility for Crusties and plans to invest an additional Rs 5 crore in the coming financial year to double its production capacity. The company’s manufacturing unit in Roorkee, Uttarakhand, spans 90,000 square feet and has a production capacity of 2,600 metric tons (MT) for Cornitos, 700 MT for Crusties, 600 MT for dry fruits, 150 MT for dips, and 200 MT for tortilla wraps.
Agarwal noted that the current capacity utilization stands at 95% for Cornitos, 70% for Crusties, 80% for dry fruits, 50% for dips, and 20% for tortilla wraps. To further expand the tortilla wraps category, the company plans to invest Rs 10-12 crore in a new production line, aiming to generate an additional Rs 12 crore in revenue from this segment in FY26.
On the distribution front, Greendot Health Foods works with over 500 distributors and plans to add 100 more in the next fiscal year, targeting a reach of 30,000 retailers. Currently, 60% of the company’s revenue comes from general trade, 15% from e-commerce (which is growing at 30% month-on-month), 15% from modern trade, and 10% from exports.
The company exports its products to 25 countries and aims to increase the export contribution to 15% of total revenue. Agarwal emphasized that the company is actively exploring new markets and opportunities to strengthen its global presence.
With a focus on innovation, capacity expansion, and market penetration, Greendot Health Foods is poised for significant growth in the coming years, aiming to solidify its position as a leader in the healthy snacking industry.