Mrs. Bectors Food Specialities Ltd.
Q1FY23 Quarterly Result Announced for Mrs. Bectors Food Specialities Ltd.
Packaged Foods firm Mrs. Bectors Food Specialities announced Q1FY23 Result :
- Biscuit segment reported a growth of 24% in Q1FY23 over Q1FY22. This segment has grown by 26% over Q1FY21.
- Our domestic biscuit segment and exports witnessed higher double-digit growth in Q1FY23 as compared to same period last
- Bakery segment has grown by 56% in Q1FY23 including retail bakery and institutional segment. This segment has grown by 114% as compared to Q1FY21
- Both Retail & Institutional Bakery has grown by higher double digit in Q1FY23 as compared to same period last year. The Company continues to focus on increasing distribution and premiumization of products
Commenting on the Results, Mr. Anoop Bector, Managing Director said, “We witnessed revenue growth of 33% with strong growth momentum across both the biscuits and bakery segment. I’m pleased to share that we saw growth in both volumes and realization. In first quarter, we continued to experience pressure on raw materials prices and the Company also took price hikes to mitigate these pressures. Having said this, the Company is currently witnessing softening of raw material prices, this coupled with price hikes is expected to have a positive impact on our EBITDA margins, going forward. Mrs Bectors has focused over past few months on strengthening leadership team, building capacities to enhance manufacturing infrastructure, driving S&D through digitization and field force augmentation alongside premiumization..
We have successfully onboarded marketing and supply chain head from reputed organizations to achieve our long-term growth targets. The Company has recently implemented salesforce management system (SFS) and is expected to implement Distributor Management System (DMS) in the coming quarters. The company continues to enhance its existing distribution and plans to double its network in North India in next two years. Further, we will also focus on enhancing our presence in Western and Southern India over next few quarters."