Bikaji Foods jumps 2% on the back of 57% growth in Q4 net profit

Shares of Bikaji Foods International Ltd jumped 2 percent on the back of solid Q4 numbers. At 9:42am, the stock was trading 1.59 percent higher at Rs 390.50 on the NSE.

The ethnic snacks maker on Tuesday reported a 57.14 percent growth in consolidated net profit to Rs 38.28 crore in the fourth quarter ended March 31 as against Rs 24.36 crore last fiscal, according to a BSE filing.

The company’s total income also increased to Rs 466.84 crore in Q4 from Rs 405.96 crore a year back , as per the regulatory filing.

“We had a strong year in FY23 with strong double-digit value (up 22 percent YoY) and volume growth (up 15 percent YoY), the performance was broad-based across business segments. In the current quarter, the downward trend in our key input materials and efficient pricing measures has amplified profitability with the healthy gross margin of 35.2 percent and EBITDA margin of 13.4 percent,” Managing Director Deepak Agarwal said.

The company expects its current momentum to continue in the next fiscal with another double-digit topline growth and some improvement in margins led by superior mix, operating leverage and effective cost management.

Bikaji Foods said that its focus on network expansion is one of the reasons of rise in its topline CAGR. “We remain committed to strengthening our distribution network to achieve a deeper penetration across our core and focus markets. We aim to expand our footprint to 1.5 lakhs retail stores by FY24,” Agarwal said.

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