Bikaji Foods International Ltd logo

Bikaji Foods International Ltd

BIKAJI NSE

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]

AI Verdict: BUY Confidence: 6%

Bikaji Foods offers strong profit growth of 24% CAGR over 5 years with unanimous analyst buy ratings (9/9), but trades at an elevated PE of 64.9x demanding sustained execution. The 14% TTM sales growth and improving margins support the premium, though valuation leaves limited margin of safety.

Key Fundamentals

SmallcapPackaged FoodsFood Products
Market Cap
₹16,386 Cr
Volatility
Moderate
P/E Ratio
62.19
EBITDA
₹347 Cr
Return on Equity
13.3%
Debt to Equity
0.15
Book Value
₹64.09
EPS
₹11.29
52W High
₹818.7
52W Low
₹592.55

Technical Indicators

Key Insights

Strengths

1
  • Company has delivered good profit growth of 23.7% CAGR over last 5 years

Weaknesses

1
  • Stock is trading at 10.2 times its book value

Growth Rate

Revenue Growth
10.54% ↗
Net Income Growth
28.75% ↗
Cash Flow Change
-20.93% ↘
ROE
-39.38% ↘
ROCE
-37.83% ↘
EBITDA Margin (Avg.)
-14.56% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
BUY
Risk medium

Bikaji Foods offers strong profit growth of 24% CAGR over 5 years with unanimous analyst buy ratings (9/9), but trades at an elevated PE of 64.9x demanding sustained execution. The 14% TTM sales growth and improving margins support the premium, though valuation leaves limited margin of safety.

Bull Case 8
  • Unanimous analyst consensus with 9 out of 9 analysts rating BUY (100% buy recommendation)
  • Strong compounded profit growth of 24% CAGR over 5 years, significantly outpacing sales growth and indicating margin expansion
  • TTM profit growth of 30% demonstrates accelerating earnings momentum versus the 24% 5-year average
  • Consistent sales growth of 18% CAGR over 5 years and 15% over 3 years shows durable demand in the ethnic snacks category
  • Healthy ROE of 19% over 3 years indicates efficient capital deployment and strong return generation
  • Market cap of Rs 16,574 crore provides sufficient scale for institutional ownership while retaining mid-cap growth characteristics
  • TTM revenue growth of 14% in a challenging FMCG environment shows resilience of the ethnic snacks and namkeen category
  • Profit growth consistently outpacing sales growth (24% vs 18% over 5 years) signals operating leverage and improving unit economics
Bear Case 8
  • PE ratio of 64.9x is significantly elevated versus FMCG sector average of 40-50x, pricing in near-perfect execution
  • Price-to-book of 10.3x is extremely rich, leaving minimal downside protection if growth disappoints
  • Stock has delivered negative 1-year return of -7%, indicating recent price correction despite strong fundamentals
  • Dividend yield of just 0.19% provides negligible income cushion during potential market corrections
  • ROE has declined from 19% (3-year average) to 17% (last year), suggesting potential return compression
  • At 64.9x PE with 30% TTM profit growth, the PEG ratio of approximately 2.2x suggests the stock is not cheap even on a growth-adjusted basis
  • Limited operating history as a listed entity (IPO in November 2022) makes long-term trend analysis difficult with no 10-year data available
  • Narrow product focus in ethnic snacks category creates concentration risk versus diversified FMCG peers trading at lower multiples

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

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Neutral 2
  • ₹67Cr block trade at ₹650/share May 29

    A block trade of ~10.36 lakh shares worth ₹67.32 crore was executed on BSE at ₹650 per share, indicating significant institutional activity though counterparties remain undisclosed.

  • Analyst meet in London Jun 8 Jun 02

    Bikaji Foods will hold a one-to-one meeting with analysts and institutional investors on June 8, 2026 in London; no unpublished price sensitive information will be shared.

TL;DR: Limited news flow for Bikaji Foods with no material positive or negative catalysts in the past week. The ₹67 Cr block trade suggests institutional portfolio rebalancing rather than a directional signal, while the upcoming London analyst meet reflects routine investor engagement. With no operational updates or margin/demand concerns surfacing, the near-term outlook remains steady but lacks fresh catalysts for re-rating.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
462
482
609
624
614
572
721
715
611
653
830
790
721
Expenses
400
416
521
549
453
480
614
659
537
556
702
692
633
Operating Profit
62
66
88
75
161
92
107
55
74
96
128
98
88
OPM %
13%
14%
14%
12%
26%
16%
15%
8%
12%
15%
15%
12%
12%
Other Income
5
6
6
6
12
7
8
8
10
10
8
11
18
Interest
3
2
3
3
3
3
3
4
5
5
5
4
4
Depreciation
12
13
16
16
15
18
19
21
25
23
24
24
24
PBT
51
56
75
62
155
78
93
39
55
79
107
82
77
Tax %
26%
26%
20%
26%
25%
26%
26%
28%
27%
26%
28%
24%
28%
Net Profit
38
41
60
46
116
58
69
28
40
59
78
62
56
EPS in Rs
1.51
1.67
2.45
1.86
4.64
2.33
2.76
1.14
1.78
2.39
3.18
2.48
2.25
Figures in ₹ Crores

Profit & Loss

  Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
1,075
1,311
1,611
1,966
2,329
2,622
2,994
Expenses
979
1,166
1,471
1,752
1,937
2,292
2,583
Operating Profit
96
145
140
214
392
330
411
OPM %
9%
11%
9%
11%
17%
13%
14%
Other Income
8
11
10
23
27
32
47
Interest
6
3
7
11
11
16
18
Depreciation
34
33
38
49
60
82
95
PBT
64
120
105
177
348
264
345
Tax %
11%
25%
28%
23%
24%
27%
26%
Net Profit
56
90
76
136
263
194
254
EPS in Rs
23.18
37.1
3.12
5.5
10.61
8.01
10.3
Div. Payout %
9%
5%
3%
14%
9%
12%
12%
Figures in ₹ Crores

Balance Sheet

  Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
24
24
25
25
25
25
25
Reserves
505
581
796
931
1,193
1,358
1,582
Borrowings
54
87
160
170
166
231
299
Other Liabilities
94
124
122
146
145
313
333
Total Liabilities
677
817
1,102
1,271
1,530
1,927
2,240
Fixed Assets
407
423
511
661
812
986
1,034
CWIP
3
36
49
70
12
98
150
Investments
36
69
126
20
31
56
44
Other Assets
230
290
416
520
674
787
1,011
Total Assets
677
817
1,102
1,271
1,530
1,927
2,240
Figures in ₹ Crores

Cash Flow

  Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
55
117
57
171
245
193
304
Investing
-58
-114
-232
-123
-199
-122
-289
Financing
-26
-9
169
-5
-54
-56
0
Net Cash Flow
-29
-6
-5
43
-8
16
15
Free Cash Flow
14
43
-50
86
118
72
127
CFO/OP
69
93
70
102
82
78
97
Figures in ₹ Crores

Ratios

  Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
14
13
17
15
16
14
13
Inventory Days
22
26
27
21
20
22
22
Days Payable
8
20
16
14
14
14
12
Cash Conversion Cycle
27
20
28
21
22
22
23
Working Capital Days
7
-4
14
19
16
28
24
ROCE %
—
19%
13%
18%
29%
18%
20%

Shareholding Pattern

As of Mar 2026
Promoters 73.88%
DIIs 17.28%
FIIs 4.68%
Public 3.51%
Others 0.64%
Total 99.99%
  Feb 2022Nov 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
77.97%
75.97%
75.97%
75.97%
75.37%
75.21%
75.18%
75.10%
75.10%
74.98%
74.98%
74.92%
74.92%
73.92%
73.92%
73.88%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
7.66%
7.51%
7.48%
7.69%
7.32%
6.64%
6.34%
4.91%
4.68%
DIIs
0.00%
7.21%
9.90%
7.32%
10.34%
13.55%
12.89%
13.51%
13.33%
12.78%
11.95%
12.20%
13.37%
14.76%
16.62%
17.28%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
0.00%
6.86%
3.23%
2.98%
2.88%
3.23%
3.22%
3.01%
3.28%
3.73%
4.35%
4.60%
4.14%
4.02%
3.66%
3.51%
Others
22.03%
9.96%
10.91%
13.74%
11.41%
8.01%
8.71%
0.71%
0.78%
1.03%
1.02%
0.96%
0.94%
0.95%
0.88%
0.64%
No. of Shareholders
210
2,11,120
92,561
83,142
75,172
85,411
86,930
85,927
92,097
1,09,780
1,42,514
1,44,000
1,33,515
1,32,115
1,19,954
1,14,783

Documents

Frequently Asked Questions about Bikaji Foods International Ltd

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 is listed on the Indian stock exchanges. It is listed on NSE: BIKAJI and BSE: 543653. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Bikaji Foods International Ltd belong to?
Bikaji Foods International Ltd operates in the Fast Moving Consumer Goods sector within the Food Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Bikaji Foods International Ltd?
Bikaji Foods International Ltd has a market capitalisation of approximately ₹16385.62 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Bikaji Foods International Ltd?
The Price-to-Earnings (PE) ratio of Bikaji Foods International Ltd is 62.19. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Bikaji Foods International Ltd?
Over the past 52 weeks, Bikaji Foods International Ltd has traded between a low of ₹592.55 and a high of ₹818.7. This range helps investors understand the stock's price volatility and recent trading levels.
Does Bikaji Foods International Ltd pay dividends?
Yes, Bikaji Foods International Ltd has a dividend yield of 0.19%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Bikaji Foods International Ltd?
Bikaji Foods International Ltd has a Return on Equity (ROE) of 13.30%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Bikaji Foods International Ltd on Tapetide?
On Tapetide, you can view Bikaji Foods International Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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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