Bikaji Foods shares jump 6% on posting Q3 results; PAT up 116% YoY

In Q3, Bikaji Foods reported a 122 per cent increase in consolidated net profit to ₹62.2 crore in Q3, as compared to ₹28 crore a year ago

Bikaji Foods International shares gained 5.9 per cent in trade, logging an intra-day high at ₹685 per share on BSE. The buying on the counter came after the company released its Q3 results.

 

At 9:35 AM, Bikaji Foods' share price was up 4.82 per cent at ₹677.55 per share on BSE. In comparison, the BSE Sensex was up 0.55 per cent at 82,306.84.

 

Bikaji Foods reported a 116 per cent increase in consolidated net profit to ₹62.17 crore in Q3, as compared to ₹28.74 crore a year ago. However, sequentially, the net profit slipped 22 per cent from ₹79.77 crore in Q2FY26. 

 

Its revenue from operations rose 10.7 per cent to ₹790 crore, as compared to ₹713.5 crore year-on-year (Y-o-Y).   READ STOCK MARKET UPDATES TODAY LIVE 

The Earnings before interest, tax , depreciation and amortisation (Ebitda) for the quarter under review stood at ₹98.4 crore, as compared to ₹55.6 crore a year ago. Ebitda margin stood at 12.5 per cent, as against 7.8 per cent a year ago. 

 

Segment-wise, ethnic snacks revenue grew by 13.3 per cent Y-o-Y, which constitutes 67.4 per cent of overall revenue. 

 

Packaged sweets’ revenue de-grew by 17.1 per cent Y-o-Y, which constitutes 12.3 per cent of overall revenue because of a shift in season in Q2 in the current year as compared to Q3 in the last year.

 

Western Snacks’ revenue grew by 22.6 per cent Y-o-Y, which constitutes 8 per cent of overall revenue. Papad revenue grew by 14.6 per cent Y-o-Y, which constitutes 6.5 per cent of overall revenue. Meanwhile, retail revenue almost doubled to reach ₹ 47.1 crore, according to the filing. 

 

According to JM Financial Institutional Securities, Bikaji’s consolidated sales (ex-PLI) grew 11.5 per cent Y-o-Y, which was largely in line with expectations, with volume growth of 8.4 per cent Y-o-Y. 

 

Bikaji reported healthy double-digit growth across all categories, barring packaged sweets, which saw a decline on account of seasonality (due to early Diwali in the current year). During the quarter, exports grew by 39.1 per cent Y-o-Y, supported by wider distribution and increased penetration across international markets. However, growth in core markets (8.4 per cent Y-o-Y) and focus markets (7 per cent Y-o-Y) was relatively lower.  ALSO READ | Tata Consumer Q3 review: Brokerages upbeat on execution-led growth story

Additionally, the  Board of directors approved the following investments/arrangements: - 

• Additional investment of up to ₹50 crore in its subsidiary - Bikaji Foods Retail, by way of subscription to equity share capital.
• Execution of a Joint Venture (70:30) cum Shareholders Agreement with Thayekunni Khaleel (founder of Bakemart) to synergise the combined experience and expertise efforts of the Parties to the Agreement for undertaking the frozen and bakery business in India, on a joint venture basis, by utilising its existing subsidiary Bikaji Bakes Private Limited (BBPL). After the completion of this transaction, Bikaji will hold a 70 per cent stake in BBPL, and it will become its subsidiary company. 
• Execution of the loan agreement of up to ₹5 crore with its subsidiary – Petunt Food Processors Private Limited. 
• Execution of loan agreement of up to ₹8 crore with its contract manufacturing unit – Dadiji Snacks Private Limited. 
• Investment of up to ₹25 crore in its contract manufacturing unit - Jai Barbareek Dev Snacks Private Limited, in the form of optionally convertible debentures.

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