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Bikaji Foods International Ltd
NSE:BIKAJI

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Bikaji Foods International Ltd
NSE:BIKAJI
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Price: 716.8 INR 0.62% Market Closed
Market Cap: 179.6B INR

Bikaji Foods International Ltd
Investor Relations

Bikaji Foods International Ltd. is a fascinating story of culinary tradition meeting entrepreneurial prowess. Originating from the heart of India's desert state, Rajasthan, the company embodies the rich tapestry of Indian snacks and sweets. Founded in 1987 by Shiv Ratan Agarwal, who hails from the family that established the iconic Haldiram brand, Bikaji has carved out a niche in the ethnic food sector. The company capitalizes on a deep respect for heritage recipes while infusing innovation into its production processes. Operating out of Bikaner, the heartland of its unique flavors, Bikaji leverages state-of-the-art manufacturing facilities to maintain the authenticity of tastes that have been passed down through generations.

Bikaji Foods makes money by producing and distributing a wide array of packaged snacks and sweets that cater to both traditional and modern palates. Its product portfolio spans a variety of bhujias, namkeens, papads, sweets, and other ready-to-eat offerings, designed to appeal to the diaspora's nostalgia as well as local cravings. Furthermore, the company’s presence is not limited to domestic markets; it strategically exports to various international regions. This dual-market approach helps it capture revenues from diverse consumer bases looking for authentic Indian flavors. By maintaining rigorous quality standards and an extensive distribution network, Bikaji ensures that its products are widely available, thus driving steady revenue growth and reinforcing its brand as a flagship of Indian snack culture.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Nov 12, 2025
AI Summary
Q2 2026

Topline Growth: Bikaji Foods reported robust revenue growth of 15.2% year-on-year and 27% quarter-on-quarter, despite short-term GST-driven disruptions.

EBITDA & Margins: EBITDA margin reached 15.4%, the highest in the past 5 quarters, while gross margin (excluding PLI) hit 34%, an 8–9 quarter high, reflecting improved product mix and pricing discipline.

GST Impact: Recent GST reduction from 12% to 5% in ethnic and western snacks led to trade destocking and a temporary September slowdown, but is expected to benefit long-term industry organization and future growth.

Segment Performance: Packaged sweets grew strongly at 32.3%, supported by early Diwali and steady GST rate, while ethnic snacks grew 4.6% (dragged by September), and exports surged 77.3%.

Guidance & Outlook: Management expects double-digit company-level volume growth in Q3, with ethnic and western snacks anticipated to grow in the high teens as GST effects normalize.

Distribution Expansion: Direct distribution reach is on track to exceed 3.5 lakh outlets by year-end and targets 5 lakh outlets in 3 years, supporting future growth.

Capex & Capacity: Production capacity utilization was 52% in Q2, with no major capex needs for the next 2–2.5 years after recent investments.

Key Financials
EBITDA Margin
15.4%
Gross Margin (excluding PLI)
34%
Export Revenue
Over INR 50 crores
Volume Growth (Q2)
10.8%
Ethnic Snacks Growth
4.6%
Packaged Sweets Growth
32.3%
Western Snacks Growth
Flat (Q2); -5.2% reported elsewhere
Export Growth
77.3%
Direct Distribution Reach
3.3 lakh outlets
Capacity Utilization
52%
Capex (FY25 completed)
INR 500 crores
NPD Contribution to Revenue
2–2.5%
Other Earnings Calls

Management

Mr. Shiv Ratan Agarwal
Executive Chairman
No Bio Available
Mr. Deepak Agarwal
MD & Executive Director
No Bio Available
Mr. Rishabh Narendra Jain
Chief Financial Officer
No Bio Available
Mr. Manoj Verma
Chief Operating Officer
No Bio Available
Mr. Rahul Joshi
Head of Legal, Company Secretary & Compliance Officer
No Bio Available
Ms. Shweta Agarwal
Executive Director
No Bio Available
Ms. Neha Rao
Vice President of Marketing
No Bio Available
Ms. Deepshikha Thakur
Chief People Officer
No Bio Available
Mr. Shambhu Dayal Gupta
President of Finance & Corporate Affairs
No Bio Available

Contacts

Address
RAJASTHAN
Plot No.E-558-561, C-569-572, E-573-577,F-585-592, Karni Extension, Riico Industrial Area,Bikaner
Contacts
+918001029046
www.bikaji.com