Bikaji Foods International (BIKAJI) Q4 19/20 earnings summary

Executive summary

• FY20 revenue from operations rose 19.11% YoY to ₹1,073.35 crore; standalone PAT was ₹55.48 crore versus ₹51.01 crore in FY19.

• Growth initiatives included new RTE snacks, entry into frozen foods, stronger online sales, and planned manufacturing and distribution expansion in India and overseas.

• COVID-19 disruptions weighed on Q4 revenue and profits; operations resumed from April 14, 2020, with safety measures and normalization of trade channels and logistics.

Financial highlights

• Consolidated revenue was ₹1,073.35 crore, up from ₹901.11 crore in FY19; consolidated PAT increased to ₹56.37 crore from ₹51.01 crore.

• Standalone EBITDA was ₹94.28 crore versus ₹95.73 crore in FY19; standalone PAT was ₹55.48 crore versus ₹51.01 crore.

• Consolidated basic and diluted EPS rose to ₹23.18 from ₹21.09; standalone EPS was ₹22.82 versus ₹21.09.

• Operating cash flow was ₹86.90 crore, compared with ₹63.84 crore in FY19; cash and cash equivalents at year-end were ₹80.57 crore.

Outlook and guidance

• Plans included new factories near Assam, Patna and Bangalore, expanded capacity, automation, and broader frozen-food and new-product ranges; no quantified financial guidance was stated.

• Priorities included more online sales, IT-enabled distributor and retailer tracking, wider manufacturing presence, stronger leadership capability, and expansion of global markets.

• A new Karni, Bikaner cookie and papad plant was under development; capital work in progress was ₹2.88 crore at March 31, 2020.