Mrs. Bectors Food Specialities (BECTORFOOD) Q2 24/25 earnings summary

Executive summary

• Achieved consolidated net revenue of Rs 496.3 Cr in Q2 FY25, up 19.7% year-over-year, with highest-ever quarterly revenue and PAT.

• EBITDA for Q2 FY25 stood at Rs 70.5 Cr, a 9% increase year-over-year, with PAT at Rs 38.9 Cr, up 4.4% year-over-year.

• Growth driven by robust performance across biscuits and bakery segments, with exports contributing significantly.

• Board approved unaudited consolidated and standalone financial results for the quarter and half year ended 30 September 2024.

• Macroeconomic headwinds included subdued consumption due to extreme weather, elections, and inflation, especially in urban markets.

Financial highlights

• Q2 FY25 consolidated revenue: INR 496 crore (up 19.7% YoY); EBITDA: INR 71 crore (up 9% YoY, 10.1% QoQ); EBITDA margin: 14.2%.

• PAT for Q2 FY25: INR 39 crore (up 4.4% YoY, 10% QoQ); PAT margin: 7.8%.

• H1 FY25 revenue: INR 936 crore (up 18.6% YoY); EBITDA: INR 135 crore (margin 14.4%); PAT: INR 74 crore (margin 7.9%).

• Biscuit segment Q2 revenue: INR 320 crore (up 24% YoY); Bakery segment Q2 revenue: INR 167 crore (up 19% YoY).

• Basic EPS (consolidated) for Q2 FY25 was ₹6.56, up from ₹6.33 in Q2 FY24.

Outlook and guidance

• Annualized revenue growth guidance maintained at mid to high teens; EBITDA margin guidance at 14%-15%.

• Temporary margin pressure expected due to commodity inflation, but normalization anticipated in subsequent quarters.

• Focus on augmenting distribution, capacity expansion, and new product development to drive future growth.

• QIP proceeds to be used for debt repayment, project expansions, and general corporate purposes.