Bikaji Food International's PAT Increased To 40%

Revenue from operation grew 18.7% YoY to Rs. 5,722 mn with Volume growth of 16.2 % YoY

Deepak Agarwal, Managing Director, Bikaji Foods International

FinTech BizNews Service

Mumbai, July 24, 2024: 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 June 30th, 2024.

• Revenue: +18.7% YoY; Gross margin at 33.9%; EBITDA margin at 16.0%
• Volumes: +16.2 % YoY, led by double digit growth across categories
• Markets: Focus markets have grown by 16.0 % YoY; while Core markets have grown by 14.3% YoY
• Increased Direct Coverage by ~20.7k outlets in Q1; on track to reach 3.5 lakh outlets by FY25

Financial Overview

Q1FY25 Financial Performance Summary:                                   

• Revenue from operation grew 18.7% YoY to Rs. 5,722 mn with Volume growth of 16.2 % YoY
• EBITDA grew 39.2% YoY to Rs.916 mn with a margin of 16.0%
• Profit After Tax (PAT) grew 40.2% YoY to Rs. 581 mn

Q1FY25 Business Segments Review:

• Ethnic Snacks: Revenue grew by 16.0% YoY; constitutes 75.3% of overall revenue
• Packaged Sweets: Revenue grew by 12.3% YoY; constitutes 7.9% of overall revenue
• Western Snacks: Revenue grew by 26.0% YoY; constitutes 9.8% of overall revenue 
• Papad: Revenue grew by 14.0% YoY; constitutes 6.1% of overall revenue 

Deepak Agarwal, Managing Director, Bikaji Foods International Limited commented saying,

“This quarter our company continued to demonstrate strong growth and financial resilience. We are pleased to report a 17.1% value growth in snacks category (traditional and western) with underlying volume growth of 18.5%. Traditional snacks which is our core strength, delivered a value growth of 16.0% and western snack delivered a healthy value growth of 26.0%. Our EBITDA for the quarter improved by 240 bps year-over-year, reaching 916 million, reflecting our commitment to operational efficiency and disciplined cost management. While raw material costs increased during the quarter, proactive hedging strategies mitigated the impact on our margins. Overall, this quarter marked by substantial achievements in volume growth and EBITDA performance. We are confident in our ability to navigate challenges and capitalize on opportunities as we progress towards our strategic objectives.