Deepak Agarwal, MD, Bikaji Foods International Limited
Bikaji Foods International Ltd. Announced it’s Financial Results for Q4 & FY24
- Q4FY24: Revenue up by 12.8% YoY; Gross margin at 33%; EBITDA margin at 13.1% (excluding PLI)
- FY24: Revenue up by 13.8% YoY; Gross margin at 32.5%; EBITDA margin at 13.3% (excluding PLI)
- Volume growth: Q4FY24: 14.3 % YoY; FY24: 15.3% YoY.
- Focus markets have grown by 15.7 % in Q4FY24 YoY; FY24: 22.7% YoY
- Increased Direct Coverage by ~19.5k outlets in Q4; on track to reach 3.45 lakh outlets by FY25
Bikaner, 23rd May 2024 (GNI): Bikaji Foods International Limited (Bikaji), India’s third largest ethnic snacks manufacturer and the second fastest growing company in the Indian organized snacks market, today announced its financial results for the fourth quarter and year ended March 31st, 2024.
Financial Overview:
Q4FY24 Financial Performance Summary:
- Revenue from operations grew 12.8% YoY to Rs. 5,208 mn with Volume growth of 14.3 % YoY (excluding PLI)
- EBITDA grew 10% YoY to Rs. 682 mn with a margin of 13.1% (excluding PLI)
- Profit After Tax (PAT) grew YoY to Rs. 466.5 mn (excluding PLI)
- Earnings per share (EPS) (Basic) stood at Rs. 4.64
Q4FY24 Business Segments Review:
- Ethnic Snacks: Revenue grew by 10.8% YoY; constitutes 73.5% of overall revenue
- Packaged Sweets: Revenue grew by 12.7% YoY; constitutes 8.2% of overall revenue
- Western Snacks: Revenue grew by 14.6% YoY; constitutes 8.6% of overall revenue
- Papad: Revenue grew by 23.4% YoY; constitutes 8.6% of overall revenue
FY24 Financial Performance Summary:
- Revenue from operation grew 13.8% YoY to Rs. 22,344 mn with Volume growth of 15.3% YoY (excluding PLI)
- EBITDA grew YoY to Rs. 2,983 mn with a margin of 13.3% (excluding PLI)
- Profit After Tax (PAT) grew YoY to Rs. 1,938 mn (excluding PLI)
- Earnings per share (EPS) (Basic) stood at Rs. 10.63
FY24 Business Segments Review:
- Ethnic Snacks: Revenue grew by 13.5% YoY; constitutes 69.5% of overall revenue
- Packaged Sweets: Revenue grew by 14.3% YoY; constitutes 13.4% of overall revenue
- Western Snacks: Revenue grew by 13.3% YoY; constitutes 8.2% of overall revenue
- Papad: Revenue grew by 10.2% YoY; constitutes 6.1% of overall revenue
Deepak Agarwal,, Managing Director, Bikaji Foods International Limited, said: “We are delighted to inform all our stakeholders that our company has demonstrated strong performance across all the categories. This financial year, we have delivered a remarkable volume growth of 15.3%. On the bottom-line front, our EBITDA margin for the year stands at 16.8% which is led by reduction in commodity prices, superior mix, operating leverage and effective cost management.
We remain committed on strengthening our distribution network to achieve a deeper distribution across our core and focus markets.
About Bikaji Foods International Ltd. (https://www.bikaji.com//): Bikaji Foods International is the third largest ethnic snacks company in India with an international footprint, selling Indian snacks and sweets, and is the second fastest growing company in the Indian organised snacks market. (Source: F&S Report. Shiv Ratan Agarwal launched the Bikaji brand in the year 1993 with an in-depth understanding of Indian tastes and preferences. The company as of March 31, 2023, has operations in 25 states and four union territories in India. The company also exports its products to 25 international countries, including North America, Europe, the Middle East, Africa, and Asia Pacific. Bikaji Foods’ 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.
Link to the exchange filing: Results for the quarter and financial year ended on March 31, 2024
Link to the press release: https://www.bseindia.com/xml-data/corpfiling/AttachLive/d444da56-a080-4d1c-ac04-e5af4a4c39a7.pdf
ends GNI
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