The Story Of Parle Products: From Baking It's First Biscuit To Crossing $2 Billion In Annual Revenue An in-depth understanding of the Indian consumer psyche has helped the brand develop a marketing philosophy that reflects the need of Indian masses

India's FMCG heavyweight, Parle Products, has become the country's first packaged food company to cross $2 billion in annual revenues during FY22, as per ET report.

The biscuit maker posted a 9 per cent increase in net sales at INR 16,202 crore while profit slipped 81 per cent to INR 256 crore during the year ended March. A year ago, Parle had sales of INR14,923 crore and profits of INR 1,366 crore, according to the company's filing with the Registrar of Companies, the report added.

Mohanlal Dayal founded the House of Parle in 1928 and the brand baked its first biscuit, Parle Gluco, in 1938. "An in-depth understanding of the Indian consumer psyche has helped us develop a marketing philosophy that reflects the needs of the Indian masses. We have made it a tradition to deliver both health and taste, with a value-for-money positioning that allows people from all classes and age groups to enjoy Parle products to the fullest," quoted Parle's website.

The major first world markets like the U.S.A., UK, Canada, Australia, New Zealand and Middle East are relishing Parle products. Parle now has manufacturing units in seven countries outside of India- Cameroon, Nigeria, Ghana, Ethiopia, Kenya, Ivory Coast, Nepal. In 2018, the company added a new manufacturing plant in Mexico, quoted the website.

Companies are looking at innovation that will cover up not only for the pandemic losses but also help in the volatile fight against price hikes, cost inflation and constantly changing international scenarios. Over the past few months, the FMCG industry is coming up with solutions that guard them against volatile situations while continuing to establish stronger ties.