Bikaji Foods International Limited (BIKAJI)

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Bikaji Foods International Limited (BIKAJI) · mywealthgrid

About

Bikaji Foods operates packaged foods in Consumer Staples. Market cap ₹15,375 Cr; recent standalone quarterly revenues ₹667–795 Cr. Trades at PE 59.48—significant valuation premium vs. current earnings.

Face value: ₹1

Market cap

₹12,637 Cr

P/E

48.9×

P/B

7.9×

Dividend yield

0.4%

ROE

17.3%

ROCE

20.7%

Debt / equity

0.13

OPM

13.7%

EPS (TTM)

₹10.3

Book value

₹64.1

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE 59.48 offers minimal safety margin; verify what growth/margin profile market is pricing in. - OPM swings 12.17% (Mar 2026) to 16.4% (Sep 2025) across recent quarters; clarify if seasonal, input-driven, or reflects operational inconsistency. - Revenue flat (₹667–830 Cr across quarters, no visible uptrend); verify if category mature, competitive loss, or execution issue. - Underperformed 1-year return –15.96%; assess if reflects sector headwind or company-specific deterioration.

Generated analysis · source review pending

Growth drivers

Sep 2025 OPM peaked 16.4%; sustaining 14–15% through operational discipline could yield profit growth despite flat revenue base. - Regular dividends (2023–2026) demonstrate consistent cash generation; verify if accumulated cash can fund organic expansion without debt increase. - ROE 17.27% proves profitable capital use; clarify if retained earnings can fund margin-accretive growth into new segments or geographies.

Generated analysis · source review pending

954 historical price candles were omitted because the exchange source has not been verified.

₹504.1-5.1%1Y

Quick read

rule-based

Pros

+Strong return on equity of 19% (3-yr avg)
+High return on capital employed of 23.3%
+Profit CAGR of 26.2% over the last 3 years
+Revenue CAGR of 15% over the last 3 years
+Comfortable interest coverage of 20.6×
+High promoter holding of 73.9% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

47/100

Business quality: 65
Growth: 56
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,611	1,966	2,329	2,622	2,994
COGS	1,170	1,395	1,508	1,775	1,945
Gross profit	441	571	821	847	1,049
	301	357	430	519	639
	140	214	391	328	411
OPM %	8.7%	10.9%	16.8%	12.5%	13.7%
Depreciation	38	11	60	82	95
Interest	7	47	11	15	18
	10	15	27	33	47
Profit before tax	105	171	348	264	345
Tax	29	44	84	70	90
Tax %	27.6%	25.8%	24.3%	26.5%	26.2%
	76	127	263	194	254
PAT margin %	4.7%	6.4%	11.3%	7.4%	8.5%
EPS (₹)	—	5.2	10.6	8	10.3
EPS adjusted (₹)	3.1	5.2	10.5	8	10.3
	—	14.6%	9.4%	12.5%	12.1%
Annual report	—	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	24	25	25	25	25	25
Reserves	—	796	929	1,193	1,358	1,582
Minority interest	—	—	—	—	97	100
	—	141	144	119	154	210
	—	140	174	196	303	322
Total equity & liabilities	—	1,102	1,272	1,534	1,937	2,240
	419	507	656	733	876	890
CWIP	—	49	70	12	96	150
Investments	—	130	26	37	64	73
	—	416	521	751	901	1,127
Total assets	—	1,102	1,272	1,534	1,937	2,240

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	27.4%	29%	35.2%	32.3%	35.1%
EBITDA margin %	8.7%	10.9%	16.8%	12.5%	13.7%
EBIT margin %	6.3%	10.3%	14.2%	9.4%	10.5%
PAT margin %	4.7%	6.4%	11.3%	7.4%	8.5%
Working capital
Receivable days	17	15	16	14	13
Inventory days	23	21	20	22	22
Payable days	13	14	14	14	12
NWC days	26	21	22	22	23
Leverage
Current ratio	1.8	1.88	2.28	2.6	2.47
Debt to EBITDA	1.01	0.67	0.3	0.47	0.51
Debt to equity	0.17	0.15	0.1	0.11	0.13
Interest coverage	16.7	4.6	33.7	18.5	20.6
Asset turnover	1.46	1.55	1.52	1.35	1.34
Return ratios
Return on assets %	6.9%	10%	17.2%	10%	11.4%
Return on capital employed %	12.2%	22.2%	30.3%	18.9%	20.7%
Return on equity %	9.3%	13.3%	21.6%	14.1%	15.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75.21%	75.18%	75.1%	75.1%	74.98%	74.98%	74.92%	74.92%	73.92%	73.92%	73.88%	73.88%
	7.02%	6.89%	7.66%	7.51%	7.48%	7.69%	7.32%	6.64%	6.34%	4.91%	4.68%	4.61%
	13.55%	13.96%	13.51%	13.33%	12.78%	11.95%	12.2%	13.37%	14.76%	16.62%	17.28%	17.5%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	4.22%	3.97%	3.73%	4.06%	4.76%	5.38%	5.56%	5.07%	4.98%	4.55%	4.16%	4.01%
No. of shareholders	—	—	—	—	—	—	—	—	1,32,115	1,19,954	1,14,783	1,11,049

Promoter holding down 1.33 percentage points since Sep 2023.

36 deals · 16 Nov 2022 – 6 Aug 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
6 Aug 2025	TATA MUTUAL FUND	Block	BSE	Buy	7,42,000	₹732.00	₹54.31 Cr
6 Aug 2025	SHIV RATAN AGARWAL	Block	BSE	Sell	7,42,000	₹732.00	₹54.31 Cr
6 Aug 2025	DEEPAK AGARWAL	Block	BSE	Sell	6,74,000	₹732.00	₹49.34 Cr
6 Aug 2025	ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED	Block	BSE	Buy	6,74,000	₹732.00	₹49.34 Cr
6 Aug 2025	SHIV RATAN AGARWAL	Block	BSE	Sell	5,08,000	₹732.00	₹37.19 Cr
6 Aug 2025	HDFC LIFE INSURANCE COMPANY LIMITED	Block	BSE	Buy	5,08,000	₹732.00	₹37.19 Cr
6 Aug 2025	DEEPAK AGARWAL	Block	BSE	Sell	3,02,000	₹732.00	₹22.11 Cr
6 Aug 2025	HDFC LIFE INSURANCE COMPANY LIMITED	Block	BSE	Buy	3,02,000	₹732.00	₹22.11 Cr
6 Aug 2025	DEEPAK AGARWAL	Block	BSE	Sell	1,37,000	₹732.00	₹10.03 Cr
6 Aug 2025	ALPHAMINE ABSOLUTE RETURN FUND	Block	BSE	Buy	1,37,000	₹732.00	₹10.03 Cr

1–10 of 36

1 / 4

Mr. Deepak AgarwalExecutive Director-Chairperson related to Promoter-MD
Mrs. Shweta AgarwalExecutive Director
Mr. Sachin Kumar BhartiyaNon-Executive - Non Independent Director
Mr. Siraj Azmat ChaudhryNon-Executive - Independent Director
Mrs. Richa Manoj GoyalNon-Executive - Independent Director
Mr. Pulkit Anilkumar BachhawatNon-Executive - Independent Director
Mr. Nikhil VoraNon-Executive - Independent Director
Mr. Sunil SethiNon-Executive - Independent Director
Mr. Rishabh JainChief Financial Officer
Mr. Rahul JoshiCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 10 fund houses

Held by these funds

3.21%

of the company's equity

All mutual funds

13.12%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

35 schemes · 10 fund houses

		Shares
Focused Fund	Nippon India Mutual Fund	28.83 L	180.41	2.09%	1.15%	+3.48 L
INDIA CONSUMER FUND	Tata Mutual Fund	13.05 L	81.65	2.81%	0.521%	-0
Small Cap FundNEW	ICICI Prudential Mutual Fund	12.83 L	80.27	0.82%	0.512%	—
RETIREMENT SAVINGS FUND-PROGRESSIVE PLAN	Tata Mutual Fund	5.4 L	33.79	1.5%	0.215%	-0
RETIREMENT SAVINGS FUND-MODERATE PLAN	Tata Mutual Fund	4.68 L	29.28	1.3%	0.187%	-0
VALUE FUND	Tata Mutual Fund	3.63 L	22.74	0.26%	0.145%	-1.49 L
MF MULTI CAP FUND	LIC Mutual Fund	2.63 L	16.44	0.73%	0.105%	-0
FMCG Fund	ICICI Prudential Mutual Fund	2.31 L	14.42	0.93%	0.092%	-0

1–8 of 35

1 / 5

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Re-affirmation of Credit Rating by ICRA Limited25 Aug 2025 from ICRA

Investor Presentation and earnings call

May 2026Transcript AI Summary PPT REC
Jan 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

4

Final dividend17 Jul 2026 · ex-date₹1.25
Final dividend29 Aug 2025 · ex-date₹1
Final dividend14 Jun 2024 · ex-date₹1
Final dividend8 Jun 2023 · ex-date₹0.75

1

Board meeting to consider results5 Aug 2026

1

Earnings call6 Aug 2026call

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

15 announcementsExport CSV

27 Aug 2026, 8:49 amCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

26 Aug 2026, 1:06 pmCompany Update

Announcement under Regulation 30 (LODR)-Diversification / Disinvestment

Diversification / Disinvestment PDF

20 Aug 2026, 7:00 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Directorate

Change in Directorate PDF

20 Aug 2026, 6:51 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

20 Aug 2026, 2:01 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

24 Jul 2026, 10:58 amCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

23 Jul 2026, 12:46 pmOthers

Business Responsibility and Sustainability Reporting (BRSR)

Business Responsibility and Sustainability Reporting (BRSR) PDF

23 Jul 2026, 12:38 pmAGM/EGM

Notice Of Annual General Meeting - August 20, 2026

AGM PDF

Date	Category	Subject	Filing
27 Aug 2026, 8:49 am	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
26 Aug 2026, 1:06 pm	Company Update Diversification / Disinvestment	Announcement under Regulation 30 (LODR)-Diversification / Disinvestment

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Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	27.4%	29%	35.2%	32.3%	35.1%
EBITDA margin %	8.7%	10.9%	16.8%	12.5%	13.7%
EBIT margin %	6.3%	10.3%	14.2%	9.4%	10.5%
PAT margin %	4.7%	6.4%	11.3%	7.4%	8.5%
Working capital
Receivable days	17	15	16	14	13
Inventory days	23	21	20	22	22
Payable days	13	14	14	14	12
NWC days	26	21	22	22	23
Leverage
Current ratio	1.8	1.88	2.28	2.6	2.47
Debt to EBITDA	1.01	0.67	0.3	0.47	0.51
Debt to equity	0.17	0.15	0.1	0.11	0.13
Interest coverage	16.7	4.6	33.7	18.5	20.6
Asset turnover	1.46	1.55	1.52	1.35	1.34
Return ratios
Return on assets %	6.9%	10%	17.2%	10%	11.4%
Return on capital employed %	12.2%	22.2%	30.3%	18.9%	20.7%
Return on equity %	9.3%	13.3%	21.6%	14.1%	15.8%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Zydus Wellness LimitedZYDUSWELLZYDUSWELL	₹15,695 Cr	₹18,882 Cr	₹4,537 Cr	₹596 Cr	12.9%	₹188 Cr	5%	4.8%	3.4%	106
Bikaji Foods International LimitedBIKAJIBIKAJI	₹12,637 Cr	₹12,846 Cr	₹3,075 Cr	₹413 Cr	13.7%	₹259 Cr	8.5%	20.7%	17.3%	23
The Bombay Burmah Trading Corporation LimitedBBTCBBTC	₹9,313 Cr	₹10,868 Cr	₹19,915 Cr	₹3,540 Cr	17.6%	₹1,290 Cr	12.8%	36.4%	19.6%	-7
Mrs. Bectors Food Specialities LimitedBECTORFOODBECTORFOOD	₹6,540 Cr	₹6,671 Cr	₹2,119 Cr	₹272 Cr	12.6%	₹149 Cr	6.9%	14.6%	11.6%	34
Gopal Snacks LimitedGOPALGOPAL	₹3,177 Cr	₹3,331 Cr	₹1,608 Cr	₹118 Cr	6.7%	₹84 Cr	4.9%	14.4%	16.7%	66
Adf Foods LimitedADFFOODSADFFOODS	₹3,093 Cr	₹3,101 Cr	₹718 Cr	₹137 Cr	19.1%	₹92 Cr	13.2%	21.6%	16.9%	143
Prataap Snacks LimitedDIAMONDYDDIAMONDYD	₹2,564 Cr	₹2,567 Cr	₹1,557 Cr	₹45 Cr	3.8%	₹13 Cr	1.2%	1.1%	3.1%	13
Tasty Bite Eatables LimitedTASTYBITETASTYBITE	₹2,458 Cr	₹2,492 Cr	₹540 Cr	₹74 Cr	13.7%	₹42 Cr	7.7%	17.9%	15.7%	—
Shah Foods LtdSHAHFOODSHAHFOOD	₹766 Cr	₹766 Cr	₹0 Cr	₹0 Cr	—	₹-0 Cr	—	-0.2%	-0.1%	—
Lotus Chocolate Company LtdLOTUSCHOLOTUSCHO	₹692 Cr	₹840 Cr	₹574 Cr	₹31 Cr	5.4%	₹17 Cr	3%	50.3%	33.8%	—
Ganesh Consumer Products LimitedGANESHCPGANESHCP	₹601 Cr	₹610 Cr	₹857 Cr	₹85 Cr	9.8%	₹45 Cr	4.9%	21%	14.2%	29
Nurture Well Industries LtdNWILNWIL	₹466 Cr	₹501 Cr	₹1,026 Cr	₹90 Cr	8.8%	₹67 Cr	8.2%	23.4%	19.9%	44

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	57	176	245	193	304
	-232	-128	-199	-122	-289
	169	-5	-54	-56	0
Net cash flow	-5	43	-8	16	15
Free cash flow	-52	90	116	71	126
CFO / Operating profit %	41.2%	82.5%	62.5%	58.9%	74.1%

Bikaji Foods International Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

4

1

1

Announcements

4

1

1

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Bikaji Foods International Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Dividends4

Board meetings1

Other corporate actions1

Announcements

Dividends4

Board meetings1

Other corporate actions1

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

4

1

1

4

1

1