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Bikaji Foods International Results: Latest Quarterly Results & Analysis

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Bikaji Foods International Ltd. 11 Nov 2025 18:11 PM
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Q2FY26 Quarterly Result Announced for Bikaji Foods International Ltd.

Packaged Foods company Bikaji Foods International announced Q2FY26 results

  • Revenue from operation grew 15.2% YoY to Rs 8,303 million with Volume growth of 10.8% YoY.
  • EBITDA grew 20.1% YoY to Rs 1,282 million with a margin of 15.4% (up by 130 bps YoY ex PLI) .
  • Adjusted Profit After Tax (PAT) grew 18.1% YoY to Rs 808 million.
  • Profit After Tax (PAT) grew 13.5% YoY to Rs 777 million.
  • Earnings per share (EPS) (Basic) stood at Rs 3.18.

Deepak Agarwal Managing Director, Bikaji Foods International, said: “This quarter demonstrated strong and resilient growth, with revenue rising 15.2% YoY, driven by the outstanding performance of the Packaged Sweets segment, which grew by 32.3%. The Exports business continued its remarkable trajectory, delivering 77.3% growth, reflecting the increasing global acceptance of our products.

We welcome the GST rate rationalization by the Government, which is a progressive step toward making quality food products more affordable for consumers and promoting formal growth in the sector. In anticipation of this change, the business experienced temporary headwinds in September due to distributor de-stocking ahead of the GST transition, leading to a short-term impact in our core states. However, excluding this one-time effect, the salty snacks business would have achieved high single-digit growth, reflecting sustained category momentum. Post-transition, demand has normalized, and we are witnessing a healthy uptick in sales momentum. Our retail stores have also started contributing meaningfully, showing encouraging year-on-year growth.

The Company remains optimistic about the future and is firmly committed to driving sustainable, long-term growth through continuous innovation, market expansion, and deepening consumer engagement.”

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Packaged Foods company Bikaji Foods International announced Q1FY26 results
  • Revenue from operation grew 14.2% YoY to Rs 6,527 million with Volume growth of 7.5% YoY.
  • EBITDA grew 5.1% YoY to Rs 963 million with a margin of 14.8% (down 128 bps YoY).
  • Profit After Tax (PAT) grew 1.3% YoY to Rs 585 million.
  • Earnings per share (EPS) (Basic) stood at Rs 2.39.

Deepak Agarwal Managing Director, Bikaji Foods International, said: “Q1 FY26 showcased resilient growth with revenue rising 14.2% YoY, led primarily by the strong performance of Ethnic Snacks, which grew by 11.2% YoY. Demand remained healthy across all product categories, reinforcing the brand’s strong positioning and appeal. Exports grew by 60.8% driven by an increased presence of our products across various countries. Further, to mitigate inflationary pressures and improve margins, the Company undertook strategic initiatives including selective price hikes and cost efficiency programs. These efforts contributed to sustaining the growth momentum, particularly in our core categories. Our retail stores have also started contributing meaningfully, we have seen a good YoY growth in revenues. The Company remains confident about the business outlook and is committed to delivering long-term sustainable growth through innovation, market expansion, and deeper consumer engagement.”

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Packaged Foods company Bikaji Foods International announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Volume grew 8.9% YoY, but Revenue from operation was flat YoY at Rs. 6,136 million on account of one-time PLI adjustment in base quarter
  • EBITDA was Rs 743 million with a margin of 12.1%
  • Profit After Tax (PAT) stood at Rs 399 million
  • Earnings per share (EPS) (Basic) stood at Rs. 1.78

FY25 Financial Highlights:

  • Revenue from operation grew 12.6% YoY to Rs. 26,219 million with Volume growth of 10.3% YoY
  • EBITDA is at Rs 3,283 million with margin of 12.5%
  • Profit After Tax (PAT) stood at Rs 1,943 million
  • Earnings per share (EPS) (Basic) stood at Rs. 8.02

Deepak Agarwal Managing Director, Bikaji Foods International, said “This year the Company has delivered a 10.3% volume and 14.8% of value growth YOY, driven by strong demand across our core product lines. Despite good top-line growth, gross margins were slightly impacted due to unexpected and significant inflationary pressure on key raw materials. While we had measures in place to mitigate cost volatility, the sharp and unanticipated increase in input prices particularly in edible oil put temporary pressure on profitability

The year has been marked by robust growth, strategic advancements, and a steadfast commitment to delivering value to our stakeholders. While rural markets began showing encouraging signs of recovery post the first half, urban demand remains in a gradual recovery phase. Our growth was driven by focused execution, improved penetration, and strong brand resilience.

To remain ahead in an increasingly competitive snacks and sweets market, we are sharpening our focus on product innovation and data-led distribution. We are leveraging advanced analytics to optimize channel strategies and improve regional product mixes. Additionally, investments in supply chain automation, digital marketing, and strategic partnerships will play a key role in expanding both reach and relevance.”

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Packaged Foods company Bikaji Foods International announced Q3FY25 results
  • Revenue from operation grew 14.5% YoY to Rs 7,149 million with Volume growth of 3.0% YoY.
  • EBITDA stands at Rs 555 million with a margin of 7.8% on account of strong inflationary pressure and un-favourable raw material prices.
  • Profit After Tax (PAT) stands at Rs 278 million with a margin of 3.9%.
  • Earnings per share (EPS) (Basic) stood at Rs 1.14.

Deepak Agarwal Managing Director, Bikaji Foods International, said “We are pleased to announce that our company has delivered resilient performance across all categories, despite facing significant inflationary pressures and weak demand sentiments in the market. The Traditional Snacks category has been a major contributor, accounting for 62% of our total revenue, followed by the Packaged Sweets category, which contributed 18%.

Regarding commodity prices, we continue to experience year-on-year inflation in key inputs such as edible oil, potatoes, packaging material and other essential commodities. To offset these rising costs, we have implemented selective price increases. While urban consumption showed signs of moderation, we have observed a noticeable uptick in rural demand. We remain optimistic that urban demand will return to its usual pace soon”

Result PDF

Packaged Foods company Bikaji Foods International announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highlights:

  • Revenue from operation grew by 18.5% YoY to Rs 7,212 million with volume growth of 15.0% YoY.
  • EBITDA grew by 21.7% YoY to Rs 1,067 million with a margin of 14.8% (up 39 bps YoY) led by strong festive demand.
  • Profit After Tax (PAT) grew by 14.7% YoY to Rs 686 million.
  • Earnings per share (EPS) (Basic) stood at Rs 2.76.

H1FY25 Financial Highlights:

  • Revenue from operation grew by 18.6% to Rs 12,933 million with Volume growth of 15.5%.
  • EBITDA grew by 29.2% to Rs 1,983 million with a margin of 15.3% (up 126 bps YoY) led by strong festive demand.
  • Profit After Tax (PAT) grew 25.1 % to Rs 1,266 million.
  • Earnings per share (EPS) (Basic) stood at Rs 5.10.

Deepak Agarwal Managing Director, Bikaji Foods International, said: “We are delighted to inform our stakeholders that our company has demonstrated strong performance across all the categories. This quarter we have witnessed a significant jump in revenue and profit margins. This surge in growth is due to the demand in Ethnic Snacks and Packaged Sweets on account of Festive seasonality impact. Overall contribution of Packaged Sweets has jumped to 17.5% this quarter, which is again due to festive play. Despite facing significant inflationary challenges, we successfully maintained our margin profile while achieving robust volume growth. Strategic cost management and effective pricing strategies enabled us to navigate this environment, ensuring both profitability and market competitiveness.”

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Packaged Foods company Bikaji Foods International announced Q1FY25 results:

Financial Highlights:

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

Business Highlights:

  • 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, said: “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."

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Packaged Foods company Bikaji Foods International announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Revenue from operations grew 12.8% YoY to Rs 5,208 million with Volume growth of 14.3 % YoY (excluding PLI)
  • EBITDA grew 10% YoY to Rs 682 million with a margin of 13.1% (excluding PLI)
  • Profit After Tax (PAT) grew YoY to Rs 466.5 million (excluding PLI)
  • Earnings per share (EPS) (Basic) stood at Rs 4.64
  • 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 Highlights:

  • Revenue from operation grew 13.8% YoY to Rs 22,344 million with Volume growth of 15.3% YoY (excluding PLI)
  • EBITDA grew YoY to Rs 2,983 million with a margin of 13.3% (excluding PLI)
  • Profit After Tax (PAT) grew YoY to Rs 1,938 million (excluding PLI)
  • Earnings per share (EPS) (Basic) stood at Rs 10.63
  • 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, 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."

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Bikaji Foods International announced Q3FY24 & 9MFY24 results:

  • Q3FY24:

    • Revenue from operation grew 22.9% YoY to Rs 6,241 million with Volume growth of 29.5% YoY
    • EBITDA grew 36.1% YoY to Rs 750 million with a margin of 12.0% (up 116 bps YoY) led by strong festive demand and favourable raw material prices
    • Profit After Tax (PAT) grew 15% YoY to Rs 460 million
    • Earnings per share (EPS) (Basic) stood at Rs 1.87
    • Ethnic Snacks: Revenue grew by 15.4% YoY; constitutes ~62.9% of overall revenue
    • Packaged Sweets: Revenue grew by 82.8% YoY; constitutes ~18.2% of overall revenue
    • Western Snacks: Revenue grew by 9.9% YoY; constitutes ~7.5% of overall revenue
    • Papad: Revenue grew by 8.8% YoY; constitutes ~6.1% of overall revenue

  • 9MFY24:

    • Revenue from operation grew 14.0% YoY to Rs 17,149 million with Volume growth of 16.7% YoY
    • EBITDA grew 51.7% YoY to Rs 2,285 million with a margin of 13.3% (up 331bps YoY) led by strong festive demand and favorable raw material prices
    • Profit After Tax (PAT) grew 51.5% YoY to Rs 1,472 million
    • Earnings per share (EPS) (Basic) stood at Rs 5.99
    • Ethnic Snacks: Revenue grew by 13.6% YoY; constitutes ~68.3% of overall revenue
    • Packaged Sweets: Revenue grew by 18.7% YoY; constitutes ~14.8% of overall revenue
    • Western Snacks: Revenue grew by 12.4% YoY; constitutes ~8.1% of overall revenue
    • Papad: Revenue grew by 2.1% YoY; constitutes ~5.3% of overall revenue

Deepak Agarwal, Managing Director, Bikaji Foods International, said, “We are glad to inform all our stakeholders that our company has grown well during the quarter. This quarter, we experienced a robust demand driven by festive celebrations, marking it as our most successful period for packaged sweets. The surge in growth and demand within this segment can be attributed to a combination of factors. The festive season played a significant role, alongside improvements in our operational efficiencies and advantageous pricing of raw materials. Looking ahead, we are optimistic about maintaining this growth momentum and anticipate further enhancements in our profitability.”

 

Result PDF

Packaged Foods company Bikaji Foods International announced Q2FY24 & H1FY24 results:

Financial Performance:

  • Q2FY24:
    • Revenue from operation grew 5.5% YoY to Rs 6,087 million with Volume growth of 5.1% YoY
    • EBITDA grew 36.5% YoY to Rs 877 million with a margin of 14.4% (up 330bps YoY and 80bps QoQ) led by operating efficiency and superior mix combined with the impact of favorable raw material prices
    • Profit After Tax (PAT) grew 46.1% YoY to Rs 598 million
    • Earnings per share (EPS) (Basic) stood at Rs 2.45
  • H1FY24:
    • Revenue from operation grew 9.5% YoY to Rs 10,907 million with Volume growth of 10.5% YoY
    • EBITDA grew 61.5% YoY to Rs 1,535 million with a margin of 14.1% (up 450bps YoY) led by operating efficiency and superior mix combined with the impact of favorable raw material prices
    • Profit After Tax (PAT) grew 77.5% YoY to Rs 1,012 million
    • Earnings per share (EPS) (Basic) stood at Rs 4.1

Business Segments:
- Ethnic Snacks: Revenue grew by 10.0% YoY, contributing to approximately 69% of overall revenue.
- Packaged Sweets: Revenue declined by 12.6% YoY, representing around 17% of overall revenue due to the shift of the festive season.
- Western Snacks: Revenue increased by 9.0% YoY, constituting approximately 8% of overall revenue.
- Papad: Revenue decreased by 6.0% YoY, comprising around 4% of overall revenue.

Volume Growth:
- The company achieved a volume growth of 5.1% YoY in Q2FY24, and 10.5% YoY in H1FY24.
- The salty snacks category experienced the highest-ever volume growth of 17% YoY.

Market Performance:
- Focus markets grew by 11.2% YoY and 13.5% YoY in Q2FY24 and H1FY24, respectively.
- The company increased direct coverage by 46k outlets in Q2, aiming to reach 2.5 lakh outlets by FY24.

Deepak Agarwal, Managing Director, Bikaji Foods International, said, "We are thrilled to inform you all that our steadfast commitment to improving profitability has successfully helped us achieve record EBITDA. A key aspect contributing to our success this quarter has been the enhanced operating efficiencies we've implemented across our operations. This has helped us to position ourselves for further growth and advancement across various markets. With festivities around the corner, we are confident and optimistic about the upcoming quarter."

 

 

Result PDF

Packaged Foods company Bikaji Foods International announced Q1FY24 results:

  • Revenue from operation grew 15% YoY to Rs 4,821 million with volume growth of 15.2% YoY
  • EBITDA margin stood at 13.6% (up 630 bps YoY and 20bps QoQ) led by operating efficiency and superior mix combined with the impact of softening of input material prices
  • Profit After Tax (PAT) grew 163.8% YoY to Rs 414 million.
  • PAT margin stood at 8.6% (up 490 bps YoY)
  • Earnings per share (EPS) (Diluted) stood at Rs 1.67

Deepak Agarwal Managing Director, Bikaji Foods International, “We have started fiscal year FY24 with strong double-digit value (up 15% YoY) & volume growth (up 15.2% YoY) in Q1, the performance was broad-based across business segments and markets. We have delivered a resilient EBITDA margin in Q1 led by superior mix, operating leverage, and effective cost management.

We remain committed to strengthening our distribution network to achieve a deeper distribution across our core & focus markets and are on track to expand our direct reach to 2.4 lakhs retail stores by FY24.”

 

Result PDF

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