Bikaji Foods International logo

Bikaji Foods International

BIKAJI NSE

Key Fundamentals

MicrocapPackaged FoodsFood Products
Market Cap
₹13,987 Cr
Volatility
Low Risk
P/E Ratio
50.76
EBITDA
₹462 Cr
Return on Equity
14.9%
Debt to Equity
0.13
Book Value
₹64.09
EPS
₹11.29
52W High
₹801.3
52W Low
₹565

Tapetide Score

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

Key Insights

Strengths

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

Weaknesses

1
  • Stock is trading at 8.21 times its book value

Growth Rate

Revenue Growth
14.96% higher than 3Y
Net Income Growth
31% higher than 3Y
Cash Flow Change
57.76% higher than 3Y
ROE
13.57% lower than 3Y
ROCE
13.68% higher than 3Y
EBITDA Margin (Avg.)
11.46% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 9d ago
AI opinion · based on fundamentals
Risk high

Bikaji Foods International Ltd has a market cap of ₹14,698 Cr and trades at a PE of 57.6x with a price-to-book of 9.15x. The company has delivered strong compounded profit growth of 25% CAGR over 5 years and sales growth of 17% CAGR over the same period, though the stock has declined 27% over the past year.

Bull Case 8
  • Strong 5-year compounded profit growth of 25% CAGR, indicating consistent earnings expansion in the ethnic snacks category
  • Healthy 5-year compounded sales growth of 17% CAGR, reflecting sustained demand and distribution expansion
  • TTM profit growth of 29% outpaces TTM sales growth of 11%, suggesting improving operating leverage and margin expansion
  • Consistent ROE profile at 18-19% over 3-5 year periods, indicating efficient capital deployment relative to equity base
  • 10-year compounded sales CAGR of 18% demonstrates a long track record of revenue scaling well before the IPO period
  • 10-year compounded profit CAGR of 21% shows the company has been able to grow earnings over extended cycles including commodity volatility
  • 3-year compounded profit growth of 26% CAGR exceeds 3-year sales growth of 13%, pointing to structural margin improvement rather than one-off gains
  • Operates in the large and underpenetrated organized ethnic snacks market in India, with branded players still gaining share from unorganized segment
Bear Case 8
  • PE of 57.6x is significantly elevated compared to FMCG sector averages of 35-45x, leaving limited margin of safety
  • Stock is trading at 9.15x book value, pricing in substantial future growth that must be delivered to justify the premium
  • Stock price has declined 27% over the past 1 year, indicating significant negative sentiment or potential de-rating from peak valuations
  • TTM sales growth has decelerated to 11% from the 5-year CAGR of 17%, raising questions about whether the high-growth phase is moderating
  • 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 5% despite 26% profit CAGR over the same period suggests the market has been compressing the valuation multiple
  • Last year ROE of 18% while paying a 57.6x PE implies an earnings yield of roughly 1.7%, well below risk-free rates of ~7%
  • The ethnic snacks segment faces increasing competition from larger FMCG players and regional brands, which could pressure margins and market share gains going forward

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

AI News Digest

Anthropic anthropic claude-opus-4.6 4d ago
Neutral 2
  • 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.

  • ₹1.25 per share final dividend Aug 20

    Bikaji Foods approved a final dividend of ₹1.25 per share for FY26 at its 31st AGM on August 20, 2026, along with reappointment of key board members.

TL;DR: A quiet period for Bikaji Foods with no material headwinds or catalysts. The partial divestiture of a negligible-revenue bakes subsidiary is a minor housekeeping move, while the ₹1.25 dividend signals steady but modest shareholder returns. With limited news flow, the near-term trajectory will likely depend on upcoming quarterly results and broader demand trends in the snacks segment.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
478
598
613
606
565
713
676
585
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
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
18
18
18
18
19
19
PBT
58
78
65
155
80
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
72
31
48
63
78
65
64
65
EPS in Rs
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
Figures in ₹ Crores

Profit & Loss

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
28
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
70
73
74
PBT
48
58
64
82
76
62
120
109
181
356
282
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
210
269
270
EPS in Rs
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%
—
Figures in ₹ Crores

Balance Sheet

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
Figures in ₹ Crores

Cash Flow

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
Figures in ₹ Crores

Ratios

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

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Shareholding Pattern

Others0.56%Promot.73.88%Public3.45%FIIs4.61%DIIs17.50%As ofJun 2026

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 market capitalisation of Bikaji Foods International Ltd?
Bikaji Foods International Ltd has a market capitalisation of ₹13,987 Cr, which places it in the Mid Cap band.
What is the PE ratio of Bikaji Foods International Ltd?
Bikaji Foods International Ltd trades at a PE ratio of 50.76, on earnings per share of ₹11.29, 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 ₹565 and ₹801.3.
Does Bikaji Foods International Ltd pay dividends?
Bikaji Foods International Ltd has a dividend yield of 0.22%.
What is the Return on Equity (ROE) of Bikaji Foods International Ltd?
Bikaji Foods International Ltd reported a return on equity of 14.90%. 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.[1]

Website bikaji.com
CEO Mr. Shiv Ratan Agarwal
Employees 2,589
Listed 2022-11-16
Face Value ₹ 1
Issued Size 25,05,92,710

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