Finshots Daily FMCG giants want some chips at Balaji Wafers
Sep 19, 2025
Explore the fascinating rise of Balaji Wafers from a simple cinema canteen to a ₹5,550 crore empire. Discover the innovative sourcing strategies and unique pricing tactics that set them apart. Learn how a dense dealer network and minimal ad spend helped establish their market dominance. Yet, legal battles and scaling challenges loom as they aim for national expansion. Hear how private equity firms and FMCG giants are eager to invest, drawn by Balaji's local credibility and signature flavors.
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Humble Canteen To Food Giant
- Balaji Wafers began in 1974 as a cinema canteen hack where fried chips outsold soggy sandwiches.
- That backyard frying hustle scaled into a factory and FY24 sales near ₹5,550 crore with profits rivaling big listed food firms.
Factory-Like Procurement
- Balaji built control over the wafer journey from farm procurement to cold storage to smooth out seasonality and quality swings.
- That supply resilience turned procurement into a factory-like cycle, cutting waste and stabilising margins.
Keep Price Points Sacred
- Preserve low-price MRPs and compete on weight and scale instead of passing cost shocks to consumers.
- Use product weight and distribution efficiency to maintain perceived value while protecting margins.