financetom
Business
financetom
/
Business
/
COVID-19 lockdown: Parle-G helps Parle clock best-ever growth in last four decades
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
COVID-19 lockdown: Parle-G helps Parle clock best-ever growth in last four decades
Jun 9, 2020 3:11 PM

Leading food company Parle Products logged record sales of its Parle-G biscuits, preferred for mass consumption, in April and May during the lockdown, said a senior company official.

Share Market Live

NSE

The company has gained a market share of around 5 per cent in the highly competitive biscuit segment, helped by Parle-G biscuits, which was proffered by the people while stocking pantry during the pandemic.

Parle-G biscuits also gained traction as it was preferred by government agencies and NGOs working to distribute food relief packages to the people during the pandemic due to its economic proposition with value package of Rs 2 besides being considered as a good source of glucose, Parle Products Senior Category Head Mayank Shah told PTI.

The growth was phenomenal and as a result Parle was able to increase its market share by 4.5 to 5 per cent during the lockdown, he added.

This is one of the highest in the recent (time). At least in last 30 to 40 years, we have not seen this kind of growth, Shah said adding in his 20 years of working with the biscuits major he hasn't witnessed a performance like this.

Shah said Parle-G is a comfort food for most Indians and not a biscuit, adding, during time of uncertainty, it has been consumed a lot.

Even during the earlier crisis like tsunami and earth quakes, sales of Parle-G biscuits had gone up, he added.

That is the kind of trust, which the people have in the brand, he said adding the Parle-G is good for storing also as it has a longer shelf life.

The company had also announced to donate three crore packs of Parle-G biscuits when the coronavirus pandemic intensified in India.

We also saw many other people doing that. There were many other organisations, which were also helping the people by distributing Parle-G biscuits, he said adding that it was being donated by multiple people and organisation as it is a good product for that.

Shah claimed that Parle had "the highest growth rate among all the biscuit companies" with people staying home during the lockdown led to increased consumption.

First Published:Jun 10, 2020 12:11 AM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved