Bikaji Foods International Q1 Results Revenue Rises but Profits Fall

Bikaji Foods International Q1 Results: Bikaji Foods International’s financial performance for the first quarter of 2024 shows some interesting trends when compared both year-over-year (YoY) and quarter-on-quarter (QoQ). In terms of total revenue, the company earned ₹572.16 crores, which is an 18.69% increase YoY compared to ₹482.05 crores in the same quarter last year. However, quarter-on-quarter (QoQ), the revenue decreased by 6.88%, as it was ₹614.45 crores in the previous quarter (March 2024).

Bikaji Foods International’s Expenses rose significantly. Selling, general, and administrative expenses grew by 28.88% YoY, reaching ₹34 crores, and even rose by 31.06% QoQ from ₹25.94 crores. Depreciation and amortization also increased by 33.80% YoY, indicating higher costs to maintain and operate assets, and by 16.67% QoQ.

Bikaji Foods International’s Operating Income showed a sharp drop of 49.50% QoQ, from ₹145.87 crores to ₹73.66 crores, although it improved YoY by 40.59%. Similarly, net income before taxes fell by 49.54% QoQ but grew by 39.82% YoY.

Bikaji Foods International’s Net Income also increased by 40.59% YoY to ₹58.55 crores, but it dropped QoQ by 49.63%. This YoY improvement shows stronger performance compared to the same period last year, but the quarter-on-quarter drop suggests recent challenges.

Here is a simple summary of Bikaji Foods International Q1 Results for June 2024:

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Bikaji Foods International Q1 Results

Bikaji Foods International’s revenue from operations for June 2024 was ₹54,439.04 lakhs, higher than March 2024's ₹51,264.24 lakhs and June 2023's ₹47,718.74 lakhs, showing growth. Other operating income increased significantly in March 2024 due to ₹9,356.86 lakhs, but it was ₹1,700.79 lakhs in June 2024. The total revenue from operations for June 2024 was ₹56,139.83 lakhs, but lower than March 2024's ₹60,621.10 lakhs.

Bikaji Foods International’s total expenses in June 2024 were ₹48,761.17 lakhs, which was more than June 2023's ₹42,602.50 lakhs but slightly higher than March 2024. The profit before tax in June 2024 was ₹8,126.87 lakhs, lower than March 2024's ₹15,464.10 lakhs but higher than June 2023. After taxes, the profit for June 2024 was ₹6,054.94 lakhs, lower than March 2024 but more than June 2023.

Bikaji Foods International’s earnings per share (EPS) for June 2024 was ₹2.42, showing the profit per share. Overall, the company saw stable growth, higher profits, and efficient management of expenses, although profits were lower compared to the March 2024 quarter.

Here is a breakdown of the company's financial performance across the quarters and year in the given data:

(Rs. in Lakhs)

Bikaji Foods International Stock Performance

Bikaji Foods International has a market cap of ₹23,426 crore, meaning the total value of its shares is high. The current stock price is ₹936, while the highest price in the past year was ₹1,008, and the lowest was ₹450. The Price-to-Earnings (P/E) ratio is 81.6, showing the stock is valued highly compared to its earnings. The book value, or the company's net worth per share, is ₹49.0. The dividend yield is low at 0.10%, indicating small payouts to shareholders. 

Here is the stock information in table format:

Quarterly Results 

Bikaji Foods International's financial performance for December 2023, March 2024, and June 2024 shows steady growth and stability. In December 2023, the company recorded sales of ₹613 crores, with expenses of ₹537 crores, leading to a net profit of ₹49 crores. Moving to March 2024, sales slightly dropped to ₹606 crores, but the operating profit margin (OPM) surged to 27%, resulting in a strong net profit of ₹116 crores. By June 2024, sales were ₹561 crores, with expenses rising to ₹468 crores. 

Here is the version of the data, showing the financial particulars for Dec 2023, Mar 2024, and Jun 2024:

About Bikaji Foods International 

Bikaji Foods International is an Indian snack company founded in the late 1980s by Shri Shivratan Agarwal. The company started with a focus on making traditional Indian snacks, especially Bhujia, using large-scale production. Shri Agarwal worked hard to create the right technology to produce these snacks and chose the name "Bikaji," which combines "Bika," the founder of Bikaner, and "Ji," a respectful term in India. Bikaji is all about offering authentic Indian flavors that reflect the culture and heritage of India.

Bikaji has grown to become a well-known brand, both in India and around the world. The company is committed to giving people a taste of "Aslee Parampara" or true tradition, through its wide range of products. Bikaji continues to innovate with new snacks and modern packaging, all while staying true to its roots. Their goal is to become a global leader in snacks and savory foods.