In the world of starting and running businesses, Amit Kumat’s impressive journey shows how facing challenges with creativity and determination can lead to success. Starting from financial difficulties, he became well-known in the Indian snack market. Amit’s journey teaches valuable lessons for those interested in startups and business professionals.
As per The Economic Times, Prataap Snacks, founded by Amit and Apoorva Kumat and their friend Arvind Mehta in 2003, is valued at Rs 2,762.22 Cr, ranking 27th in the FMCG sector. The company has four factories and a distribution network with 2,900 distributors and 168 super stockists across 24 states and one Union Territory.
Amit initially faced financial troubles when he switched from the snack sector to chemical manufacturing, accumulating a debt of Rs 6 crore in a year. Instead of giving up, he approached Apoorva and Arvind in 2002 with the idea of selling snacks in Indore. With a Rs 15 lakh investment from their family, they started selling cheese balls, laying the foundation for Prakash Snacks and the well-known Yellow Diamond brand.
Their determination paid off as sales soared from a modest office in Indore. Salman Khan became the brand ambassador, and Prataap Snacks’ operating revenue exceeded INR 500 cr for the fiscal year ending on March 31, 2022. Now, Haldiram is in talks to acquire a majority stake in Prataap Snacks for $350 million to boost its market share in the potato chip industry.
