Bikaji Foods International Limited (Bikaji), India’s third largest ethnic snacks manufacturer and the second fastest growing company in the Indian organised snacks market, on Friday announced its financial results for the quarter ended December 31, 2023, the company announced through an exchange filing.
Q3FY24 Financial Performance
The company reported a notable year-on-year growth of 22.9 per cent in revenue from operations, reaching Rs 6,241 million. This positive outcome was primarily driven by a substantial 29.5 per cent year-on-year increase in volume.
The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) witnessed a growth of 36.1 per cent year-on-year, totaling Rs 750 million, and achieved a margin of 12.0 per cent, reflecting a 116 basis points increase compared to the previous year.
The Profit After Tax (PAT) also experienced significant growth, expanding by 15 per cent year-on-year and reaching Rs 460 million. The Earnings Per Share (EPS) (Basic) for the period stood at Rs 1.87.
9M FY24 Financial Performance
Revenue from operation grew 14.0 per cent YoY to Rs 17,149 million with Volume growth of 16.7 per cent YoY. EBITDA grew 51.7 per cent YoY to Rs 2,285 million with margin of 13.3 per cent (up 331bps YoY) led by strong festive demand and favorable raw material prices. The Profit After Tax (PAT) grew 51.5 per cent YoY to Rs. 1,472 million and the earnings per share (EPS) (Basic) stood at Rs 5.99.
“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," said Deepak Agarwal, Managing Director, Bikaji Foods International Limited.
Bikaji Foods International Limited shares
The shares of Bikaji Foods International Limited on Friday at 3:30 pm IST closed at Rs 549.90, down by 5.87 per cent.
