Bikaji Foods International Ltd

AI

Bikaji Foods International Ltd

₹ 476 -3.26%
06 Nov - close price
About

Bikaji Foods International Limited is one of India's largest fast-moving consumer goods ("FMCG") brands. The company's product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range, and cookies.[1]

Key Points

Leadership[1]
a) 3rd largest ethnic snacks company in India.
b) Largest manufacturer of Bikaneri Bhujia producing 35,588 tonnes annually.
c) 2nd largest manufacturer of handmade papad in India.
d) Market leader in family pack segment which represented ~63%of food products sale (9MFY26)

  • Market Cap ₹ 11,944 Cr.
  • Current Price ₹ 476
  • High / Low ₹ 768 / 446
  • Stock P/E 44.9
  • Book Value ₹ 70.9
  • Dividend Yield 0.26 %
  • ROCE 22.0 %
  • ROE 17.8 %
  • Face Value ₹ 1.00

Pros

  • Company has delivered good profit growth of 25.2% CAGR over last 5 years

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
598 613 606 565 713 676 585 624 796 731 667 678 873
509 537 445 472 604 621 506 525 665 636 577 579 759
Operating Profit 89 76 161 93 109 56 79 99 130 95 91 99 113
OPM % 15% 12% 27% 16% 15% 8% 13% 16% 16% 13% 14% 15% 13%
6 6 11 7 8 7 7 8 0 10 14 11 6
Interest 2 2 2 2 2 3 3 3 4 3 2 3 4
Depreciation 15 15 15 17 17 18 18 18 18 18 19 19 20
Profit before tax 78 65 155 80 97 42 65 85 109 84 84 87 95
Tax % 22% 24% 25% 26% 26% 26% 25% 26% 29% 23% 24% 26% 26%
61 49 116 60 72 31 48 63 78 65 64 65 70
EPS in Rs 2.45 1.96 4.64 2.38 2.88 1.23 1.93 2.52 3.10 2.58 2.54 2.58 2.81
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
468 550 610 781 901 1,075 1,308 1,599 1,944 2,295 2,541 2,817 2,949
419 487 536 681 808 980 1,163 1,456 1,732 1,900 2,204 2,402 2,551
Operating Profit 49 63 73 100 93 94 145 142 212 395 337 415 398
OPM % 10% 11% 12% 13% 10% 9% 11% 9% 11% 17% 13% 15% 13%
1 2 3 3 10 8 11 10 22 26 28 32 40
Interest -4 0 0 5 4 6 3 7 9 9 11 12 12
Depreciation 6 7 12 17 22 34 33 37 45 56 70 73 76
Profit before tax 48 58 64 82 76 62 120 109 181 356 282 362 350
Tax % 33% 29% 32% 36% 33% 11% 25% 27% 23% 24% 26% 26%
32 41 44 53 51 55 90 80 138 270 210 269 263
EPS in Rs 1.37 1.77 1.88 2.26 2.10 2.28 3.69 3.20 5.55 10.77 8.37 10.73 10.51
Dividend Payout % 15% 11% 11% 9% 10% 9% 5% 3% 14% 9% 12% 12%
Compounded Sales Growth
10 Years: 18%
5 Years: 17%
3 Years: 13%
TTM: 10%
Compounded Profit Growth
10 Years: 21%
5 Years: 25%
3 Years: 26%
TTM: 17%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -3%
1 Year: -34%
Return on Equity
10 Years: 17%
5 Years: 18%
3 Years: 19%
Last Year: 18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Sep 2026
Equity Capital 23 23 23 23 24 24 24 25 25 25 25 25 25
Reserves 172 208 245 284 446 504 580 798 934 1,200 1,397 1,649 1,753
72 97 136 142 73 54 83 141 138 139 177 217 300
62 55 55 73 87 93 115 118 143 138 154 159 227
Total Liabilities 329 384 460 523 630 675 803 1,081 1,240 1,503 1,753 2,050 2,305
100 176 229 313 396 406 406 480 607 753 756 751 781
CWIP 84 83 86 47 13 3 33 48 70 12 94 147 148
Investments 10 2 2 3 3 36 87 146 41 60 180 238 272
135 124 143 160 218 230 277 407 523 677 723 914 1,104
Total Assets 329 384 460 523 630 675 803 1,081 1,240 1,503 1,753 2,050 2,305

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
54 34 37 78 64 51 121 60 177 243 214 294
-95 -74 -69 -63 -67 -54 -129 -220 -131 -207 -192 -311
87 41 32 -10 58 -26 2 157 -2 -45 -8 8
Net Cash Flow 47 2 -0 5 55 -29 -6 -4 43 -10 14 -9
Free Cash Flow -31 -48 -32 12 -9 12 51 -33 89 120 104 158
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 141% 74% 69% 97% 92% 67% 96% 71% 105% 81% 82% 93%

Ratios

Standalone / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 12 15 17 16 16 14 13 17 16 18 13 14
Inventory Days 29 21 25 26 26 22 26 26 20 18 21 21
Days Payable 39 28 21 18 20 8 18 15 14 12 12 10
Cash Conversion Cycle 2 7 21 24 22 27 21 28 22 23 22 25
Working Capital Days -36 -16 -7 -28 4 7 -2 15 21 20 29 25
ROCE % 22% 20% 18% 21% 16% 12% 19% 14% 18% 30% 20% 22%

Insights

In beta
Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Direct Distribution Reach
Number of Outlets

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Family Pack Revenue Share
% of Food Sales
Core States Revenue Share
% of Revenue
Ethnic Snacks Revenue Share
% of Food Sales
Total Installed Capacity
Metric Tonnes
Total Sales Volume
Tonnes
Western Snacks Revenue Share
% of Food Sales
Retail Store Count (THF)
Number of Stores

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
75.18% 75.10% 75.10% 74.98% 74.98% 74.92% 74.92% 73.92% 73.92% 73.88% 73.88% 73.88%
6.89% 7.66% 7.51% 7.48% 7.70% 7.33% 6.64% 6.34% 4.92% 4.68% 4.61% 4.74%
13.96% 13.51% 13.32% 12.78% 11.96% 12.21% 13.37% 14.77% 16.62% 17.28% 17.51% 17.34%
3.99% 3.72% 4.06% 4.76% 5.38% 5.57% 5.08% 4.97% 4.54% 4.15% 4.01% 4.05%
No. of Shareholders 86,93085,92792,0971,09,7801,42,5141,44,0001,33,5151,32,1151,19,9541,14,7831,11,0491,09,915

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Annual reports

Concalls