Mars International India's Financial Bounce Back with Sweet Strategies

Mars International India reduced its loss to Rs 1.79 crore in FY24. Revenue rose by 2.82% to Rs 2,329.92 crore, while total income increased by 3%. The company is focusing on the growing petcare market and strategic investments in digitalisation and brand development to boost growth.

Mars International India, the manufacturer of popular chocolate brands like Galaxy and Snickers, has narrowed its financial loss to Rs 1.79 crore in the 2023-24 fiscal year, as per financial reports. The company's revenue saw a modest rise, climbing 2.82% to Rs 2,329.92 crore.

Fueled by increased total income of 3% to Rs 2,339 crore, as accessed through business intelligence platform Tofler, the confectionery giant is actively exploring opportunities in the burgeoning petcare market. Urban pet ownership and heightened pet health awareness are driving demand for premium food products.

Mars International India is also making strides in e-commerce, digitalisation, and brand development. Galaxy chocolates led performance gains, with innovations like Galaxy Fusions supporting growth. Despite challenges such as competition affecting Snickers, timely strategic adjustments have been implemented.

(With inputs from agencies.)