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Bikaji Foods International

BIKAJI NSE
₹472.90 No trade today
P/E
43.79
View as Markdown
MCP
Close 4 Nov 2026 ₹472.90 −253.55 −34.9% 1Y
Start ₹726.45

Key Fundamentals

MicrocapFood ProductsFMCG

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
22.00%
Debt to Equity
0.13
EPS (TTM)
₹10.80
Book Value
₹64.09
Market Cap
—
P/E (TTM)
43.79
P/B
7.38
ROE
17.80%
Dividend Yield
0.27%
EBITDA
₹462 Cr
52W High
₹768.50
52W Low
₹446.10
Volume
0

Peer Comparison

Fast Moving Consumer Goods › Food Products › Packaged Foods

Bikaji Foods International peer comparison
Nestle
₹1,248.0058.21₹2,42,042 Cr41.661.12%73.20%84.10%₹25,581 Cr₹4,134 Cr
Britannia Industries
₹4,946.3045.75₹1,19,473 Cr23.331.84%53.50%56.00%₹19,529 Cr₹2,610 Cr
Zydus Wellness
₹488.8082.57₹15,590 Cr2.630.24%3.98%4.91%₹4,537 Cr₹188 Cr
Bikaji Foods International (this company)
₹472.9043.79₹11,876 Cr7.380.27%17.80%22.00%₹2,872 Cr₹272 Cr
Bombay Burmah Trading
₹1,274.206.89₹8,824 Cr1.261.36%18.70%33.00%₹19,915 Cr₹2,585 Cr
Mrs. Bectors Food
₹208.1643.01₹6,436 Cr5.030.62%11.40%14.10%₹2,119 Cr₹149 Cr
Gopal Snacks
₹246.8836.68₹3,136 Cr5.730.20%4.72%11.70%₹1,608 Cr₹84 Cr
Median 7 companies₹488.8043.79₹11,876 Cr5.730.62%17.80%22.00%₹4,537 Cr₹272 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

51 Average

Data confidence 100/100

Category scores

Quality
77
Strong
Returns, margins, earnings quality 22% weight
Valuation
27
Poor
Cheap vs sector & own history 24% weight
Growth
54
Average
Sales & profit trajectory 9% weight
Financial Health
88
Strong
Solvency, leverage, coverage 9% weight
Momentum
16
Poor
Trend strength, vol-adjusted 12% weight
Ownership
49
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has delivered good profit growth of 25.2% CAGR over last 5 years

Weaknesses

1
  • Stock is trading at 7.30 times its book value

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish955
OscillatorsNeutral252
Moving AveragesStrong Bearish703

Key readings

RSI (14)
41.89
Neutral
MACD (12,26,9)
−17.80
Bullish
SMA (50)
527.56
Bearish
SMA (200)
617.15
Bearish

As of

Analyst Rating

Based on 10 analysts
BUY100%

10 of 10 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
10
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+17.74%
5Y+16.58%
3Y+13.16%
1Y+10.86%
TTM+10.55%

Net profit

Net profit growth by window
10Y+20.70%
5Y+24.48%
3Y+24.92%
1Y+28.10%
TTM+27.10%

Operating cash flow

Operating cash flow growth by window
10Y+24.08%
5Y+19.43%
3Y+18.43%
1Y+37.38%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+3.28 pp
5Y+3.64 pp
3Y+3.82 pp
1Y+1.47 pp
TTM+1.25 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹610 Cr
Mar 2018₹781 Cr
Mar 2019₹901 Cr
Mar 2020₹1,075 Cr
Mar 2021₹1,308 Cr
Mar 2022₹1,599 Cr
Mar 2023₹1,944 Cr
Mar 2024₹2,295 Cr
Mar 2025₹2,541 Cr
Mar 2026₹2,817 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹44.00 Cr
Mar 2018₹53.00 Cr
Mar 2019₹51.00 Cr
Mar 2020₹55.00 Cr
Mar 2021₹90.00 Cr
Mar 2022₹80.00 Cr
Mar 2023₹138 Cr
Mar 2024₹270 Cr
Mar 2025₹210 Cr
Mar 2026₹269 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹120 Cr +22.3% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 24 Sep 2026
AI opinion · based on fundamentals
Risk high

Bikaji Foods International commands a market cap of ₹14,723 Cr at a P/E of 58x and P/B of 9.22x. The company has delivered 25% compounded profit growth over 5 years with an 18% ROE last year, though the stock has declined 22% over the past 1 year and trades at a significant premium to book value.

Bull Case 7
  • Strong 5-year compounded profit CAGR of 25% indicates consistent earnings expansion well above the broader FMCG sector average
  • Compounded sales growth of 17% over 5 years and 18% over 10 years reflects durable revenue momentum and scaling ability
  • ROE has remained steady at 17-19% across 3, 5, and 10-year horizons, signaling consistent capital efficiency
  • TTM profit growth of 29% is accelerating relative to the 5-year CAGR of 25%, suggesting improving operating leverage
  • 10-year compounded sales CAGR of 18% demonstrates a long track record of sustained top-line growth through multiple cycles
  • 3-year compounded profit CAGR of 26% outpaces 3-year sales CAGR of 13%, indicating meaningful margin expansion
  • Last year ROE of 18% is above the typical cost of equity for Indian mid-cap companies, indicating value creation for shareholders
Bear Case 8
  • P/E ratio of 58x is significantly elevated compared to the broader food products sector median, leaving limited room for execution misses
  • Stock is trading at 9.22x book value, implying a steep premium that demands consistently high growth to justify
  • Stock price has declined 22% over the past 1 year despite strong underlying profit growth, suggesting potential de-rating concerns
  • TTM sales growth has decelerated to 11% from the 5-year CAGR of 17%, pointing to a potential slowdown in top-line momentum
  • Dividend yield of just 0.21% offers negligible income return, making the stock almost entirely dependent on capital appreciation
  • 3-year stock CAGR of only 6% has significantly lagged the 3-year compounded profit CAGR of 26%, reflecting persistent valuation compression
  • At a ₹14,723 Cr market cap with 11% TTM sales growth, the company needs to sustain elevated profit growth rates to maintain its current valuation multiples
  • ROE has slightly declined from 19% on a 3-year basis to 18% last year, which warrants monitoring for any structural margin pressure

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

41d ago

TL;DR: Limited news flow for Bikaji Foods this period. The only development is a minor stake sale in a negligible-revenue subsidiary, which has no material impact on the business. No clear headwinds or positive catalysts emerging from recent coverage; investors should watch for upcoming quarterly results and demand trends in the packaged snacks segment.

Neutral 1
  • Sells 30% stake in Bakes unit Aug 26

    Bikaji Foods sold a 30% stake in subsidiary Bikaji Bakes Private Limited to Mr. Thayekunni Khaleel for ₹30,000, retaining 70% control. The unit contributed negligible revenue in FY26.

Quarterly Results

₹ Cr
BIKAJI quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
478
598
613
606
565
713
676
586
624
796
731
667
678
Expenses
412
509
537
445
472
604
621
506
525
665
636
577
579
Operating Profit
66
89
76
161
93
109
56
79
99
130
95
91
99
OPM %
14%
15%
12%
27%
16%
15%
8%
13%
16%
16%
13%
14%
15%
Other Income
6
6
6
11
7
8
7
7.71
8
0
10
14
11
Interest
2
2
2
2
2
2
3
3
3
4
3
2
3
Depreciation
13
15
15
15
17
17
18
17.41
18
18
18
19
19
PBT
58
78
65
155
81.27
97
42
65
85
109
84
84
87
Tax %
25%
22%
24%
25%
26%
26%
26%
25%
26%
29%
23%
24%
26%
Net Profit
43
61
49
116
60.55
72
31
49.01
63
78
65
64
65
EPS (₹)
1.73
2.45
1.96
4.64
2.38
2.88
1.23
1.93
2.52
3.1
2.58
2.54
2.58

Profit & Loss

₹ Cr
BIKAJI profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
468
550
610
781
901
1,075
1,308
1,599
1,944
2,295
2,541
2,817
2,872
Expenses
419
487
536
681
808
980
1,163
1,456
1,732
1,900
2,204
2,402
2,457
Operating Profit
49
63
73
100
93
94
145
142
212
395
337
415
415
OPM %
10%
11%
12%
13%
10%
9%
11%
9%
11%
17%
13%
15%
14%
Other Income
1
2
3
3
10
8
11
10
22
26
29.71
32
35
Interest
−4
0
0
5
4
6
3
7
9
9
11
12
12
Depreciation
6
7
12
17
22
34
33
37
45
56
69.3
73
74
PBT
48
58
64
82
76
62
120
109
181
356
286
362
364
Tax %
33%
29%
32%
36%
33%
11%
25%
27%
23%
24%
26%
26%
—
Net Profit
32
41
44
53
51
55
90
80
138
270
212
269
270
EPS (₹)
13.75
17.68
18.76
22.63
20.98
22.82
36.91
3.2
5.55
10.77
8.37
10.73
10.8
Div. Payout %
15%
11%
11%
9%
10%
9%
5%
3%
14%
9%
12%
12%
—

Balance Sheet

₹ Cr
BIKAJI balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
23
23
23
23
24
24
24
25
25
25
25
25
Reserves
172
208
245
284
446
504
580
798
934
1,200
1,397
1,649
Borrowings
72
97
136
142
73
54
83
141
138
139
177
217
Other Liabilities
62
55
55
73
87
93
115
118
143
138
154
159
Total Liabilities
329
384
460
523
630
675
803
1,081
1,240
1,503
1,753
2,050
Fixed Assets
100
176
229
313
396
406
406
480
607
753
756
751
CWIP
84
83
86
47
13
3
33
48
70
12
94
147
Investments
10
2
2
3
3
36
87
146
41
60
180
238
Other Assets
135
124
143
160
218
230
277
407
523
677
723
914
Total Assets
329
384
460
523
630
675
803
1,081
1,240
1,503
1,753
2,050

Cash Flow

₹ Cr
BIKAJI cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
54
34
37
78
64
51
121
60
177
243
214
294
Investing
−95
−74
−69
−63
−67
−54
−129
−220
−131
−207
−192
−311
Financing
87
41
32
−10
58
−26
2
157
−2
−45
−8
8
Net Cash Flow
47
2
0
5
55
−29
−6
−4
43
−10
14
−9
Free Cash Flow
−31
−48
−32
12
−9
12
51
−33
89
120
104
158
CFO/OP
141
74
69
97
92
67
96
71
105
81
82
93

Ratios

BIKAJI financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
12
15
17
16
16
14
13
17
16
18
13
14
Inventory Days
29
21
25
26
26
22
26
26
20
18
21
21
Days Payable
39
28
21
18
20
8
18
15
14
12
12
10
Cash Conversion Cycle
2
7
21
24
22
27
21
28
22
23
22
25
Working Capital Days
−36
−16
−7
−28
4
7
−2
15
21
20
29
25
ROCE %
22%
20%
18%
21%
16%
12%
19%
14%
18%
30%
20%
22%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Bikaji Foods International insights

72 extracted metrics across FY15–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 73.88%
  • DIIs 17.34%
  • FIIs 4.74%
  • Public 3.49%
  • Others 0.56%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Bikaji Foods International

What does Bikaji Foods International Ltd do?
Bikaji Foods International Limited is one of India's largest fast-moving consumer goods ("FMCG") brands. The company's product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment)…
Where is Bikaji Foods International Ltd (BIKAJI) listed?
Bikaji Foods International Ltd trades as BIKAJI on the NSE and under code 543653 on the BSE.
Which sector does Bikaji Foods International Ltd belong to?
Bikaji Foods International Ltd is classified under the Food Products sector, in the Packaged Foods industry.
What is the PE ratio of Bikaji Foods International Ltd?
Bikaji Foods International Ltd trades at a PE ratio of 43.79 as of 4 Nov 2026, on earnings per share of ₹10.8, against a book value of ₹64.09 per share.
What is the 52-week high and low of Bikaji Foods International Ltd?
Over the last 52 weeks Bikaji Foods International Ltd has traded between ₹446.1 and ₹768.5 as of 4 Nov 2026.
Does Bikaji Foods International Ltd pay dividends?
Bikaji Foods International Ltd has a dividend yield of 0.27%.
What is the Return on Equity (ROE) of Bikaji Foods International Ltd?
Bikaji Foods International Ltd reported a return on equity of 17.80%. Its debt-to-equity ratio is 0.13.

Company Information

Bikaji Foods International Limited is one of India's largest fast-moving consumer goods ("FMCG") brands. The company's product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range, and cookies.

Website bikaji.com
CEO Mr. Shiv Ratan Agarwal
Employees 2,589
Listed 16 Nov 2022
Face Value ₹1

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