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Gopal Snacks Limited

India · NSE: GOPAL.NS · Market cap: · P/E: · P/S:

Gopal Snacks makes and sells Indian snack foods like namkeen, gathiya, and papad, along with western-style snacks, to customers in India and abroad.

Gopal Snacks is an Indian snack maker. It sells the crunchy, salty stuff people reach for with tea or between meals: namkeen (the umbrella term for savory Indian snack mixes), gathiya (a thick, soft Gujarati chickpea-flour snack), and papad (thin lentil wafers you fry or roast). It also makes western-style snacks like potato chips and extruded puffed snacks, so it competes both in the traditional Indian snack aisle and against the global chip brands.

Gopal Snacks Limited (GOPAL.NS) Gathiya: line art illustration of A coiled
Gathiya
Gathiya is a crunchy Gujarati snack made from gram flour, and it is Gopal Snacks' core product.

The heart of the business is Gujarat, the western Indian state where gathiya is a daily habit and where the company built its name. Gopal grew from a regional favorite into a national brand by selling through the same small shops most Indians buy snacks from — the neighborhood kirana store — rather than relying only on big supermarkets. That distribution reach matters enormously in Indian snacks, because the market is huge but spread across millions of tiny retailers, and the brand that gets onto those shelves wins the impulse buy. Snacks are a tough, thin-margin business. The raw ingredients — chickpea flour, potatoes, edible oil — swing in price, and the company has to keep its products cheap enough for everyday buyers while still making money per packet. Its edge comes from scale, a recognizable brand, and a wide spread of small pack sizes that let a customer spend a few rupees at a time. Competitors include big national players like Britannia-style branded food giants and the snack arms of large conglomerates, as well as countless local and unbranded makers.


Gopal listed its shares on the Indian stock exchanges in 2023, which gave it public money to expand factories and reach. Like many Indian consumer brands, it leans on volume and steady repeat purchases rather than premium pricing. The simple bet is that as India's middle class grows and eats more packaged snacks, a trusted, affordable name with deep rural and small-town reach keeps selling more packets — as long as it can manage ingredient costs and fend off both big rivals and cheap local alternatives.

Saved answer · last researched 14 Nov 2026