Bikaji Foods International Ltd
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]
- Market Cap ₹ 19,114 Cr.
- Current Price ₹ 764
- High / Low ₹ 1,008 / 520
- Stock P/E 89.1
- Book Value ₹ 57.1
- Dividend Yield 0.13 %
- ROCE 19.8 %
- ROE 15.8 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 30.2% CAGR over last 5 years
Cons
- Stock is trading at 13.4 times its book value
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
400 | 468 | 550 | 610 | 781 | 901 | 1,075 | 1,308 | 1,599 | 1,944 | 2,295 | 2,541 | 2,598 | |
357 | 419 | 487 | 536 | 681 | 808 | 980 | 1,163 | 1,456 | 1,732 | 1,900 | 2,205 | 2,256 | |
Operating Profit | 43 | 49 | 63 | 73 | 100 | 93 | 94 | 145 | 142 | 212 | 395 | 336 | 342 |
OPM % | 11% | 10% | 11% | 12% | 13% | 10% | 9% | 11% | 9% | 11% | 17% | 13% | 13% |
2 | 1 | 2 | 3 | 3 | 10 | 8 | 11 | 10 | 22 | 26 | 28 | 30 | |
Interest | 2 | -4 | 0 | 0 | 5 | 4 | 6 | 3 | 7 | 9 | 9 | 11 | 12 |
Depreciation | 4 | 6 | 7 | 12 | 17 | 22 | 34 | 33 | 37 | 45 | 56 | 70 | 71 |
Profit before tax | 39 | 48 | 58 | 64 | 82 | 76 | 62 | 120 | 109 | 181 | 356 | 282 | 289 |
Tax % | 36% | 33% | 29% | 32% | 36% | 33% | 11% | 25% | 27% | 23% | 24% | 26% | |
25 | 32 | 41 | 44 | 53 | 51 | 55 | 90 | 80 | 138 | 270 | 210 | 214 | |
EPS in Rs | 12.16 | 13.75 | 17.68 | 18.76 | 22.63 | 20.98 | 22.82 | 36.91 | 3.20 | 5.55 | 10.77 | 8.37 | 8.56 |
Dividend Payout % | 0% | 15% | 11% | 11% | 9% | 10% | 9% | 5% | 3% | 14% | 9% | 12% |
Compounded Sales Growth | |
---|---|
10 Years: | 18% |
5 Years: | 19% |
3 Years: | 17% |
TTM: | 9% |
Compounded Profit Growth | |
---|---|
10 Years: | 21% |
5 Years: | 30% |
3 Years: | 38% |
TTM: | -25% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 6% |
Return on Equity | |
---|---|
10 Years: | 17% |
5 Years: | 17% |
3 Years: | 19% |
Last Year: | 16% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 20 | 23 | 23 | 23 | 23 | 24 | 24 | 24 | 25 | 25 | 25 | 25 |
Reserves | 61 | 172 | 208 | 245 | 284 | 446 | 504 | 580 | 798 | 934 | 1,200 | 1,405 |
46 | 72 | 97 | 136 | 142 | 73 | 54 | 83 | 141 | 138 | 139 | 171 | |
54 | 62 | 55 | 55 | 73 | 87 | 93 | 115 | 118 | 143 | 138 | 155 | |
Total Liabilities | 182 | 329 | 384 | 460 | 523 | 630 | 675 | 803 | 1,081 | 1,240 | 1,503 | 1,756 |
95 | 100 | 176 | 229 | 313 | 396 | 406 | 406 | 480 | 607 | 753 | 738 | |
CWIP | 12 | 84 | 83 | 86 | 47 | 13 | 3 | 33 | 48 | 70 | 12 | 92 |
Investments | 0 | 10 | 2 | 2 | 3 | 3 | 36 | 87 | 146 | 41 | 60 | 185 |
75 | 135 | 124 | 143 | 160 | 218 | 230 | 277 | 407 | 523 | 677 | 741 | |
Total Assets | 182 | 329 | 384 | 460 | 523 | 630 | 675 | 803 | 1,081 | 1,240 | 1,503 | 1,756 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
27 | 54 | 34 | 37 | 78 | 64 | 51 | 121 | 60 | 177 | 243 | 213 | |
-27 | -95 | -74 | -69 | -63 | -67 | -54 | -129 | -220 | -131 | -207 | -197 | |
1 | 87 | 41 | 32 | -10 | 58 | -26 | 2 | 157 | -2 | -45 | -3 | |
Net Cash Flow | 1 | 47 | 2 | -0 | 5 | 55 | -29 | -6 | -4 | 43 | -10 | 14 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 13 | 12 | 15 | 17 | 16 | 16 | 14 | 13 | 17 | 16 | 18 | 14 |
Inventory Days | 21 | 29 | 21 | 25 | 26 | 26 | 22 | 26 | 26 | 20 | 18 | 18 |
Days Payable | 43 | 39 | 28 | 21 | 18 | 20 | 8 | 18 | 15 | 14 | 12 | 11 |
Cash Conversion Cycle | -9 | 2 | 7 | 21 | 24 | 22 | 27 | 21 | 28 | 22 | 23 | 21 |
Working Capital Days | -10 | -36 | -16 | -7 | -28 | 4 | 7 | -2 | 15 | 21 | 20 | 30 |
ROCE % | 22% | 20% | 18% | 21% | 16% | 12% | 19% | 14% | 18% | 30% | 20% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
2m - Bikaji reports Q1 FY26 14.2% revenue growth, 15% EBITDA margin, and JV with CG Group in Nepal.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 8h
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8h - Investor meetings scheduled on Aug 6, 2025, in Singapore; no unpublished price sensitive info shared.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
24 Jul - Audio recording link of Q1 FY2026 earnings call shared by Bikaji Foods International.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
24 Jul - Bikaji forms 50:50 JV with Chaudhary Group to expand ethnic snacks in Nepal's growing FMCG market.
Concalls
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Jul 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Oct 2024Transcript PPT
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Jul 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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Jan 2023Transcript PPT
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Jan 2023TranscriptNotesPPT
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Dec 2022TranscriptNotesPPT
Leadership[1]
1) 3rd largest ethnic snacks company in India.
2) Largest manufacturer of Bikaneri Bhujia producing 35,588 tonnes annually.
3) 2nd largest manufacturer of handmade papad in India.
4) Market leader in family pack segment which represented ~59%of food products sale (9MFY24)