Bikaji Foods International logo

Bikaji Foods International

BIKAJI NSE

Key Fundamentals

MicrocapPackaged FoodsFood Products
Market Cap
₹12,795 Cr
Volatility
Moderate
P/E Ratio
46.67
EBITDA
₹462 Cr
Return on Equity
14.9%
Debt to Equity
0.13
Book Value
₹64.09
EPS
₹11.29
52W High
₹768.5
52W Low
₹516

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 7.55 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

7d ago
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

7d ago
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.

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.

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 ₹12,795 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 46.67, 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 ₹516 and ₹768.5.
Does Bikaji Foods International Ltd pay dividends?
Bikaji Foods International Ltd has a dividend yield of 0.24%.
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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