Bikaji Foods Q3 Results: Reports PAT Growth of 195.39 pc for Q3FY23

Bikaji Foods International Ltd, a homegrown ethnic snacks company, has reported a Profit After Tax (PAT) of Rs 3,169.39 lakh for the third quarter (Q3) of the financial year (FY) 2023. The PAT margin increased to 6.2 percent against 2.4 percent in Q3 FY22.

“Taking the lead from the previous quarter, we have seen an increase in our revenue as compared to the last year with our topline delivering 24.2 percent growth this year,” said Deepak Agarwal, MD of Bikaji Foods International Ltd.

The company’s Profit Before Tax (PBT) stood at Rs 4,161.86 lakh for Q3 FY23, and its PBT margin increased to 8.2 percent as against 3.6 percent for Q3FY22.

Revenue from operations for the third quarter of FY23 was Rs 50,767.76 lakh as against Rs 43,897.60 lakh for the third quarter of FY22 with a growth of 15.7 percent. The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) margin stood at 10.4 percent as against 5.6 percent in the previous year. Also, Earnings per share (EPS) for the quarter ended Q3 FY23 stood at Rs 1.32.

“In the current quarter, we have seen a downward trend in our key input materials leading to improved profitability. Our EBITDA margin has increased to 10.0 percent in YTD Dec-22 as compared to 8.0 percent in YTD Dec-21 which was the result of softening of input prices,” stated Agarwal.

The snacks company also announced its financial results for the nine months that ended 31 December of the fiscal year 2023. Profit After Tax (PAT) reported stood at Rs 8,831.75 lakh in 9M FY23 as against Rs. 5,165.87 lakh in 9M FY22. The company’s PAT margin stood at 5.9 percent.

Profit Before Tax (PBT) stood at Rs 11,923.94 lakh for 9M FY23 as compared to Rs 7,155.50 lakh in 9M FY22. PBT margin stood at 7.9 percent.

Bikaji’s revenues from operations for the nine months ended 31 December 2022 was Rs 150,380.81 lakh as compared to Rs 121,070.81 lakh in 9M FY22 with a growth of 24.2 percent.

Also, its EBITDA was Rs 15,099.85 lakh in 9M FY23, as against Rs 9,636.21 lakh in 9M FY22. EBITDA margin stood at 10.0 percent and Earnings per share (EPS) (Diluted) for the nine months stood at Rs 3.64.

“We continue to focus on operational efficiencies which also reflects in a better profit margin this quarter. Our focus will be on strengthening our distribution network to achieve a deeper distribution model, and we will continue to efficiently execute our RTM strategy for distribution expansion,” added Agarwal.

Bikaji Foods International Ltd. was launched by Shiv Ratan Agarwal in 1993. According to stockbroker Groww, Bikaji Foods International Ltd is India’s third largest ethnic snacks company with an international footprint and the second-fastest growing company in the Indian organized snack market.

Today, the company has operations in 24 states and four union territories in India and also exports its products to 25 international countries, including North America, Europe, the Middle East, Africa, and Asia Pacific.