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 ₹ 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | |
| Sales growth | +17% | +17% | +11% | +28% | +15% | +19% | +22% | +22% | +22% | +18% | +11% | +11% | +10% |
| 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 |
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| Core States Revenue Share % of Revenue |
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| Ethnic Snacks Revenue Share % of Food Sales |
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| Total Installed Capacity Metric Tonnes |
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| Total Sales Volume Tonnes |
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| Western Snacks Revenue Share % of Food Sales |
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| Retail Store Count (THF) Number of Stores |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of Q2 FY27 earnings conference call for quarter and half year ended September 30, 2026 shared.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper Publication of the Unaudited Financial Results for the quarter and half year ended on September 30, 2026
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Announcement under Regulation 30 (LODR)-Investor Presentation
- Investor Presentation on Unaudited Financial Results for the quarter and half year ended on September 30, 2026
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Bikaji Foods reported Q2 FY27 revenue of INR 9,385 mn, PAT of INR 690 mn, and 13% growth.
- Unaudited Financial Results For The Quarter And Half Year Ended On September 30, 2026
Annual reports
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Annual Report 2026
from bse
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Annual Report 2025
from bse
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Annual Report 2024
from bse
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Annual Report 2023
from bse
Concalls
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Nov 2026PPT REC
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Aug 2026Transcript PPT REC
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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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 2023PPT
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Dec 2022PPT
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)