Shares of this FMCG company jumped upto 9 percent in Friday’s trading session after reporting an increase in net profits by 204 percent YoY. The shares have delivered more than a 40 percent return to its shareholders in one year.
With a market capitalization of Rs. 14,018 crores, the shares of Bikaji Foods International Ltd started Friday’s trading session on a higher note at Rs. 574 compared to its previous close of Rs. 534.65. During the trading session, the shares hit a high of Rs. 584.70, gaining around 7 percent and are currently trading at Rs. 559 apiece.
Such a bullish movement in the share price was observed after the company announced quarterly and financial year ended 31st March 2024 results. Quarterly, the revenue decreased by 17 percent from Rs. 623.9 crores duirng the December quarter to Rs. 520.83 crores in the March quarter. On a contrasting note, the net profits zoomed by 153 percent from Rs. 45.99 crores to Rs. 116.28 crores during the same timeframe.
Comparing the same metrics on a YoY basis, the revenue increased by 13 percent from Rs. 461.69 crores during Q4FY23 to Rs. 520.83 crores in Q4FY24. On the other hand, the net profits magnified by 204 percent from Rs. 38.29 crores to Rs. 116.28 crores during the same period.
The company derives revenue from different segments, with Ethnic Snacks contributing 73.5 percent of the total revenue. Packaged Sweets account for 8.2 percent, while the remaining 18.3 percent is sourced from Western Snacks and Papad.
EBITDA margin expanded by 244 bps in FY 24 over FY 23. This was led by gross margin expansion by 329 bps due to favourable material prices along with better product mix and realisation.
The strong volume growth across all product categories, led by ethnic snacks, packaged sweets, western snacks and papad, demonstrates Bikaji’s robust performance in Q4FY24 and FY24.
Additionally, the company’s board of directors have recommended a Final Dividend of Rs. 1.00 per equity share i.e. 100 percent of the face value of Rs. 1.00 per equity share for the financial year ended on March 31, 2024, subject to the approval of the shareholders at the ensuing Annual General Meeting.
Headquartered in Rajasthan, Bikaji Foods International was incorporated in 1995. The company is one of India’s largest fast-moving consumer goods brands. The company’s product range includes six principal categories are bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range, and cookies.
Written By Vaibhav Patil
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