KRBL ROE 22%, Daawat 20%. not much difference, but mcap of KRBL is 8x of Daawat.
90% of sales come from branded products for KRBL. Its 70% for Daawat. this explains Daawat sells more and at lower margins.
However brand recall of India Gate is much superior and the management has decades of experience in this field and they have more management bandwidth compared to Daawat.
Regarding 8x difference in mcap, I feel the gap will slowly narrow down. Daawat has plans to raise 500 cr soon, e-voting is going on. In my view both are good investment bets, after 2 quarters GST issues will be sorted out and both will gain mshare from unorganized sector.
Disc : Hold both , each more than 5%