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Packaged Foods company Mrs. Bectors Food Specialities announced Q2FY24 & H1FY24 results:
- Q2FY24:
- Revenues: Rs 414.5 crore, up by 19.3% YoY and 10.8% QoQ.
- Gross Profit: Rs 193.6 crore, marking a 25.2% YoY increase and 10.2% QoQ.
- Gross Profit Margin: 46.7%, a YoY increase of 218 basis points (bps), a slight QoQ decrease of 24 bps.
- EBITDA: Rs 64.7 crore, with a significant 45.5% YoY increase and 11.6% QoQ.
- EBITDA Margin: 15.6%, up by 281 bps YoY, a marginal 11 bps QoQ.
- Profit After Tax: Rs 37.3 crore, showing a substantial 70.1% YoY growth and 7.0% QoQ.
- PAT Margin: 9.0%, with a 268 bps YoY increase, a slight decrease of 32 bps QoQ.
- H1FY24:
- Revenues: Rs 788.7 crore, up by 21.7% YoY.
- Gross Profit: Rs 369.2 crore, showing a 28.9% YoY increase.
- Gross Profit Margin: 46.8%, up by 263 bps YoY.
- EBITDA: Rs 122.6 crore, a significant 61.9% YoY increase.
- EBITDA Margin: 15.5%, up by 387 bps YoY.
- Profit After Tax: Rs 72.1 crore, demonstrating a substantial 108.2% YoY increase.
- PAT Margin: 9.1%, up by 380 bps YoY.
Commenting on the results, Anoop Bector, Managing Director said, “It has been another strong quarter for us on the revenue and margin front. Our revenues for the second quarter increased by 19% and PAT by 70% on a YoY basis. We continue to focus on distribution, marketing, premiumization within existing product segments, and providing customers with differentiated products both in domestic and international markets. This has resulted in revenue and margin expansion.
We believe there is a lot of room for the company to increase distribution reach in the existing markets in North India. We remain committed to strengthening our footprint across other states in the coming years for both business segments. Our focus also continues to be on the export and QSR businesses, where we are supported by the growth of existing customers and the addition of new ones. Geographical diversification backed by our distribution expansion, premiumization, and marketing will be the key growth drivers for the company in the coming quarters”
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