Bikaji Foods International Ltd

Bikaji Foods International Ltd

₹ 732 0.86%
18 Jun 4:01 p.m.
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{# https://www.bseindia.com/xml-data/corpfiling/AttachHis/85c480fc-18c3-47aa-a8f8-a206c04e837b.pdf#page=7 #
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)

  • Market Cap 18,333 Cr.
  • Current Price 732
  • High / Low 746 / 403
  • Stock P/E 68.0
  • Book Value 49.0
  • Dividend Yield 0.14 %
  • ROCE 29.6 %
  • ROE 24.7 %
  • Face Value 1.00

Pros

  • Company has delivered good profit growth of 39.5% CAGR over last 5 years

Cons

  • Stock is trading at 15.1 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.

Peer comparison

Sector: FMCG Industry: Food - Processing - Indian

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
433 437 397 414 570 503 458 477 598 613 606
387 413 357 382 505 452 400 413 509 537 445
Operating Profit 46 24 40 31 65 51 58 64 89 76 161
OPM % 11% 5% 10% 8% 11% 10% 13% 13% 15% 12% 27%
3 2 8 5 6 12 5 9 6 6 11
Interest 1 1 2 2 2 2 2 2 2 2 2
Depreciation 9 9 10 10 10 12 10 11 15 15 15
Profit before tax 39 16 35 24 58 49 51 60 78 65 155
Tax % 23% 32% 26% 25% 26% 23% 28% 25% 22% 24% 25%
30 11 26 18 43 38 37 45 61 49 116
EPS in Rs 12.17 0.43 1.06 0.71 1.74 1.51 1.47 1.79 2.45 1.96 4.64
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2006 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
61 400 468 550 610 781 901 1,075 1,308 1,599 1,944 2,295
57 357 419 487 536 681 808 980 1,163 1,456 1,735 1,901
Operating Profit 4 43 49 63 73 100 93 94 145 142 209 394
OPM % 6% 11% 10% 11% 12% 13% 10% 9% 11% 9% 11% 17%
-1 2 1 2 3 3 10 8 11 10 15 26
Interest 1 2 -4 0 0 5 4 6 3 7 9 8
Depreciation 1 4 6 7 12 17 22 34 33 37 42 56
Profit before tax 1 39 48 58 64 82 76 62 120 109 173 356
Tax % 19% 36% 33% 29% 32% 36% 33% 11% 25% 27% 26% 24%
1 25 32 41 44 53 51 55 90 80 128 270
EPS in Rs 4.20 12.16 13.75 17.68 18.76 22.63 20.98 22.82 36.91 3.20 5.12 10.77
Dividend Payout % 0% 0% 15% 11% 11% 9% 10% 9% 5% 3% 15% 9%
Compounded Sales Growth
10 Years: 19%
5 Years: 21%
3 Years: 21%
TTM: 18%
Compounded Profit Growth
10 Years: 27%
5 Years: 40%
3 Years: 44%
TTM: 112%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 75%
Return on Equity
10 Years: 17%
5 Years: 17%
3 Years: 18%
Last Year: 25%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2006 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 2 20 23 23 23 23 24 24 24 25 25 25
Reserves 17 61 172 208 245 284 446 504 580 798 930 1,200
12 46 72 97 136 142 73 54 83 141 138 139
10 54 62 55 55 73 87 93 115 118 136 138
Total Liabilities 40 182 329 384 460 523 630 675 803 1,081 1,229 1,503
28 95 100 176 229 313 396 406 406 480 499 753
CWIP 0 12 84 83 86 47 13 3 33 48 64 12
Investments 1 0 10 2 2 3 3 36 87 146 154 60
11 75 135 124 143 160 218 230 277 407 512 677
Total Assets 40 182 329 384 460 523 630 675 803 1,081 1,229 1,503

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2006 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
27 54 34 37 78 64 51 121 60 173 243
-27 -95 -74 -69 -63 -67 -54 -129 -220 -127 -207
1 87 41 32 -10 58 -26 2 157 -2 -45
Net Cash Flow 1 47 2 -0 5 55 -29 -6 -4 44 -10

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2006 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 6 13 12 15 17 16 16 14 13 17 17 18
Inventory Days 42 21 29 21 25 26 26 22 26 26 21 17
Days Payable 34 43 39 28 21 18 20 8 18 15 15 12
Cash Conversion Cycle 14 -9 2 7 21 24 22 27 21 28 24 23
Working Capital Days 6 8 -18 9 23 7 15 15 17 38 38 35
ROCE % 22% 20% 18% 21% 16% 12% 19% 14% 18%

Shareholding Pattern

Numbers in percentages

1 Recently
Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
75.97% 75.97% 75.37% 75.21% 75.18% 75.10%
3.71% 3.45% 5.46% 7.02% 6.89% 7.66%
9.90% 10.57% 12.42% 13.55% 13.96% 13.51%
10.42% 10.03% 6.74% 4.22% 3.99% 3.72%
No. of Shareholders 92,56183,14275,17285,41186,93085,927

* 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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