Bikaji Foods International (BIKAJI) Q4 22/23 earnings summary

Executive summary

• FY23 consolidated revenue from operations rose 22.04% YoY to ₹1,96,607.22 lakh; PAT was ₹12,660.37 lakh and EPS ₹5.15.

• Growth reflected wider geographic reach and lower oil prices; priorities include profitable growth, margin optimisation, distribution expansion and increased plant utilisation.

Financial highlights

• Consolidated total income was ₹1,98,078.18 lakh versus ₹1,62,145.10 lakh in FY22; profit before tax was ₹17,064.67 lakh versus ₹10,501.26 lakh.

• Consolidated PAT increased to ₹12,660.37 lakh from ₹7,602.81 lakh; basic and diluted EPS were ₹5.15 and ₹5.14, respectively, versus ₹3.15 each in FY22.

• Operating cash flow was ₹17,615.05 lakh versus ₹5,747.39 lakh in FY22; cash and cash equivalents closed at ₹1,490.25 lakh.

• Standalone revenue grew 21.62% to ₹1,94,438.79 lakh and PAT rose to ₹12,766.94 lakh from ₹7,996.34 lakh.

Outlook and guidance

• FY24 priorities: expand distribution, launch new products, optimise margins and improve plant utilisation, while pursuing profitable growth and operational excellence.

• Three plants were established in Muzaffarpur, Kanpur and Bikaner; two contract manufacturing units in Durg and Patna and a frozen-food plant in Bikaner were planned for FY24.

• Planned additional capacity totals 12,000 tonnes of namkeen, 7,800 tonnes of western snacks and 9,600 tonnes of frozen/other products, with commercial production scheduled before FY24-end.

• Expansion plans include frozen foods, wider western-snack offerings, regional product innovation and stronger e-commerce, modern trade and super-stockist networks.