Bikaji Foods International Limited

Bikaji Foods International Limited

BIKAJI.NS
Bikaji Foods International LimitedIN flagNational Stock Exchange of India
643.30
INR
+1.15
- -
161.30BMarket Cap
Bikaji Foods International Limited
BIKAJI.NS
(National Stock Exchange of India)

Recent

price

643.30

P/E

ratio

- -

div

yld

- -

ROIC.AI

2020
2021
2022
2023
2024
2025
2026
TTM
FRC
44.1
53.8
64.45
78.69
89.41
101.81
117.16
117.05
Revenue per Share
2.32
3.71
3.12
5.5
10.63
8.02
10.31
10.3
Basic EPS, GAAP
0.8
1.76
-2.07
3.21
4.66
2.8
5.02
- -
Free Cash Flow per Basic Share
0.24
0.2
0.2
0.1
0.75
1
1
- -
Dividend per Share
12.87
16.31
18.82
24.15
34.41
41.59
1
1
Book Value per Share
21.7
24.91
32.85
38.21
48.46
55.43
64.49
64.43
Tangible Book Value per Share
243
243
250
250
250
250
250
251
Basic Weighted Avg Shares
10,722
13,082
16,081
19,634
22,344
25,483
29,347
29,347
Sales/Revenue/Turnover
6.27
8.74
6.62
8.96
14.89
9.68
10.75
10.75
Operating Margin (%)
342
331
391
488
607
815
950
950
Depreciation Expense
564
902
780
1,372
2,657
2,007
2,583
2,583
Net Income, GAAP
11.42
24.79
27.6
23.19
24.28
26.55
26.21
26.21
Effective Tax Rate (%)
5.26
6.9
4.85
6.99
11.89
7.88
8.8
8.8
Profit Margin (%)
1,100
737
1,523
1,980
2,788
4,586
5,149
5,149
Working Capital
174
150
569
657
519
677
763
763
LT Debt
5,292
6,075
8,207
9,543
12,161
14,806
17,074
17,074
Total Equity
- -
13.37
9.16
12.86
20.1
11.68
12.49
12.49
Return on Invested Capital (%)
- -
21.66
15.02
20.74
30.48
18.2
30.68
30.68
Return on Capital (%)
- -
25.43
18
25.59
36.34
21.12
48.45
48.45
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
2,315
- -
2,230
LT Borrowings
61
- -
62
LT Finance Leases
721
- -
701
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
251
- -
251
Market Capitalization
186,279
187,830
155,942

Working Capital

FRC

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
9,240
- -
8,659
Cash, Cash Equivalents & STI
4,070
- -
4,305
Accounts Receivable, Net
1,716
- -
1,071
Inventories
1,729
- -
1,174
Total Current Liabilities
4,162
- -
3,510
Payables & Accruals
- -
- -
- -
ST Debt
2,315
- -
2,230
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
23.18%
15.32%
Free Cash Flow
- -
-78.1%
79.55%
Net Income, GAAP
- -
32.06%
28.65%
Sales/Revenue/Turnover
- -
17.61%
15.16%
Total Cash Common Dividend
- -
127.73%
0.1%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4,817
6,080
6,239
5,208
22,344
2025
5,546
7,034
6,961
5,943
25,483
2026
6,371
8,149
7,758
7,070
29,347

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.67
2.45
1.87
- -
10.63
2025
2.33
2.75
1.15
1.79
8.02
2026
2.39
3.18
2.48
2.25
10.31

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.75
2025
- -
- -
- -
- -
1
2026
- -
- -
- -
- -
1
Business
Bikaji Foods International Limited Bikaji Foods International Limited is an India-based ethnic snacking company primarily engaged in the manufacturing, purchase, and sale of traditional Indian snacks and related food products. The company offers a diversified portfolio spanning six principal categories: bhujia (including Bikaneri bhujia, paneer bhujia, boondi bhujia, and Ratlami sev); namkeen (such as masala boondi, chana chur, shahi mixture, crushed peanuts, and moong dal); packaged sweets (like kaju katli, gulab jamun, rasgulla, soanpapdi, and atta ladoo); papad (including dil khush papad, premium papad, and chana papad); western snacks (such as aloo masala chips, pudina treat chips, and spicy corn sticks); and other snacks comprising gift packs, frozen foods, mathri, cookies, rusks, and extruded products. Bikaji operates multiple manufacturing facilities across India, including four in Bikaner (Rajasthan), one in Guwahati (Assam), one in Tumakuru (Karnataka) via subsidiary Petunt Food Processors Private Limited, a contract manufacturing unit in Kolkata (West Bengal), and a facility in Mumbai for restaurant sales, enabling distribution through modern retail, e-commerce, exports to over 30 countries in North America, Europe, Asia Pacific, the Middle East, and Africa, and direct-to-consumer channels targeting ethnic Indian consumers and broader FMCG markets. Founded in 1987 by Shri Shivratan Agarwal and headquartered in Bikaner, Rajasthan, at F-196/197, Bichhwal Industrial Area, the company has established itself as India's third-largest ethnic snacks producer and the world's largest manufacturer of Bikaneri bhujia, with an annual capacity exceeding 35,000 tonnes. In recent strategic developments, Bikaji acquired a 55% stake in Ariba Foods Private Limited in August 2024 for Rs 60.49 crore to bolster frozen food production, including samosas, naans, parathas, and savouries under the InDine brand, while enhancing export capabilities and facilitating entry into the quick-service restaurant (QSR) segment. In October 2024, the company announced plans to acquire a majority stake in The Hazelnut Factory for Rs 131 crore, marking its foray into the QSR, premium artisanal sweets, bakery, and café sectors with cross-selling opportunities across seven retail stores in Uttar Pradesh and Delhi. These moves expand Bikaji's "House of Brands" strategy, diversify beyond traditional snacks into frozen and premium segments, and leverage shared facilities for domestic and international growth.