Mrs. Bectors Food Specialities (BECTORFOOD) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 began with consolidated revenue of Rs 4,394.01 million, up 17.4% year-over-year, and record-high quarterly revenue, supported by robust gross margins and strong performance in both biscuits and bakery segments.

• EBITDA for Q1 FY25 stood at Rs 64 crore, a 10.5% increase year-over-year, with an EBITDA margin of 14.6%.

• PAT for Q1 FY25 was Rs 35.4 crore, up 1.7% year-over-year, with a PAT margin of 8.1%.

• The company continues to expand domestically and internationally, now reaching over 70 countries, with a focus on technology adoption and brand-building initiatives.

• Unaudited consolidated and standalone financial results for the quarter ended 30 June 2024 were approved by the Board on 2 August 2024.

Financial highlights

• Consolidated Q1 FY25 revenue was Rs 4,394.01 million, up from Rs 3,741.60 million in Q1 FY24 (+17.4% YoY).

• EBITDA grew 10.5% year-over-year to Rs 64 crore, with an EBITDA margin of 14.6%.

• PAT for Q1 FY25 was Rs 354.26 million, up from Rs 348.50 million in Q1 FY24, with a PAT margin of 8.1%.

• Biscuits segment revenue rose 23% year-over-year to Rs 273 crore; bakery segment revenue increased 14% to Rs 154 crore.

• Gross profit margin improved to 48% in Q1 FY25.

Outlook and guidance

• EBITDA margin is expected to remain in the 14-15% range for the next few quarters.

• Management anticipates sequential improvement in revenue growth, especially in the second half of the year, supported by festive demand and ongoing distribution expansion.

• Focus on augmenting distribution, omni-channel presence, and expanding into new geographies.

• Continued investment in automation, capacity addition, and new product development to drive growth.

• Project IMPACT 1.0 launched for cost transformation, targeting procurement, manufacturing, logistics, and sales efficiency.