FOR THE LAST one year, the Mumbai-based Capital Foods, which is the maker of the Ching's Secret instant noodle brand and Smith & Jones sauces, is in the news as a potential acquisition target. While attention all these months revolved around the interest shown by players such as Nestle India and ITC in the company, Thursday saw the name emerge of Tata Consumer Products (TCPL) as the frontrunner to acquire the firm.
Sales of Capital Foods in FY23 are estimated at ₹900-1,000 crore, almost double of ₹580 crore in FY22. Earnings before interest tax depreciation and amortisation (Ebitda) margins for FY23 have been pegged at 25%. The company is yet to disclose its financial numbers to the Registrar of Companies. The estimates have been made by analysts tracking the domestic food and fast-moving consumer goods (FMCG) market.
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