BSE: 543653 | NSE: BIKAJI | Consumer Food | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Bikaji Foods International Ltd is a good quality company.
The key valuation ratios of Bikaji Foods International Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Bikaji Foods International Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 24.4% | 19.5% | 19.2% | 20.9% | 16.1% | 12.1% | 19.4% | 14.2% | 18.8% | 30.5% | - |
| Value Creation Index ⓘ | 0.8 | 0.5 | 0.4 | 0.6 | 0.2 | -0.1 | 0.4 | 0.0 | 0.4 | 1.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 468 | 551 | 608 | 781 | 902 | 1,075 | 1,308 | 1,599 | 1,944 | 2,295 | 2,366 |
| Sales YoY Gr. | - | 17.6% | 10.4% | 28.4% | 15.5% | 19.1% | 21.8% | 22.2% | 21.6% | 18% | - |
| Adj EPS ⓘ | 1.4 | 1.8 | 1.9 | 2.3 | 2.1 | 2.3 | 3.7 | 3.3 | 5.6 | 10.8 | 11.9 |
| YoY Gr. | - | 31.4% | 4.4% | 22.9% | -10.4% | 10.6% | 62.5% | -11.8% | 71.3% | 92.5% | - |
| BVPS (₹) ⓘ | 8.4 | 9.9 | 11.1 | 13.2 | 19.3 | 21.7 | 24.9 | 32.9 | 38 | 48.8 | 53.4 |
| Adj Net Profit ⓘ | 32.1 | 42 | 43.8 | 53.9 | 50.4 | 55.6 | 90.5 | 81.9 | 140 | 271 | 298 |
| Cash Flow from Ops. ⓘ | 54.4 | 34 | 37.6 | 78.4 | 63.8 | 51.2 | 121 | 59.8 | 177 | 243 | - |
| Debt/CF from Ops. ⓘ | 1.3 | 2.9 | 3.1 | 1.8 | 1.1 | 1 | 0.7 | 2 | 0.6 | 0.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 19.3% | 20.5% | 20.6% | 18% | ||||
| Adj EPS ⓘ | 25.8% | 39.2% | 42.8% | 92.5% | ||||
| BVPSⓘ | 21.6% | 20.3% | 25.2% | 28.5% | ||||
| Share Price | - | - | - | 34.2% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 23.2 | 19.7 | 17.9 | 19 | 13 | 11.1 | 16 | 11.5 | 15.7 | 24.8 | 23.3 |
| Op. Profit Mgn % ⓘ | 10.5 | 11.6 | 12.1 | 12.8 | 10.3 | 8.8 | 11.2 | 9.1 | 11.1 | 17.3 | 18.6 |
| Net Profit Mgn % ⓘ | 6.9 | 7.6 | 7.2 | 6.9 | 5.6 | 5.2 | 6.9 | 5.1 | 7.2 | 11.8 | 12.6 |
| Debt to Equity ⓘ | 0.4 | 0.4 | 0.5 | 0.5 | 0.2 | 0.1 | 0.1 | 0.2 | 0.1 | 0.1 | 0 |
| Working Cap Days ⓘ | 49 | 42 | 59 | 59 | 49 | 58 | 56 | 70 | 80 | 72 | 44 |
| Cash Conv. Cycle ⓘ | -2 | 3 | 12 | 17 | 17 | 18 | 17 | 17 | 19 | 17 | 26 |
Return on Equity has increased versus last 3 years average to 23.30%
Sales growth is growing at healthy rate in last 3 years 20.59%
Net Profit is growing at healthy rate in last 3 years 42.75%
Sales growth is good in last 4 quarters at 16.17%
No data to display
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 11.9 | 11.6 |
| TTM Sales (₹ Cr.) | 2,366 | 2,404 |
| BVPS (₹.) ⓘ | 53.4 | 52.9 |
| Reserves (₹ Cr.) ⓘ | 1,312 | 1,300 |
| P/BV ⓘ | 13.84 | 13.97 |
| PE ⓘ | 62.16 | 63.71 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 475.50 / 1005.00 |
| All Time Low / High (₹) | 303.05 / 1005.00 |
| Market Cap (₹ Cr.) | 18,513 |
| Equity (₹ Cr.) | 25 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 64.4 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 468 | 551 | 608 | 781 | 902 | 1,075 | 1,308 | 1,599 | 1,944 | 2,295 |
| Operating Expenses ⓘ | 419 | 488 | 534 | 681 | 810 | 981 | 1,163 | 1,456 | 1,732 | 1,900 |
| Manufacturing Costs | 85 | 98 | 19 | 152 | 167 | 185 | 208 | 249 | 282 | 294 |
| Material Costs | 285 | 329 | 446 | 448 | 529 | 617 | 787 | 991 | 1,194 | 1,298 |
| Employee Cost | 27 | 32 | 21 | 38 | 51 | 65 | 69 | 85 | 98 | 109 |
| Other Costs ⓘ | 23 | 29 | 48 | 42 | 62 | 114 | 98 | 131 | 159 | 200 |
| Operating Profit ⓘ | 49 | 63 | 74 | 100 | 93 | 94 | 145 | 142 | 212 | 394 |
| Operating Profit Margin (%) | 10.5% | 11.4% | 12.1% | 12.8% | 10.3% | 8.7% | 11.1% | 8.9% | 10.9% | 17.2% |
| Other Income ⓘ | 5 | 2 | 6 | 5 | 10 | 8 | 11 | 10 | 22 | 26 |
| Interest ⓘ | 0 | 0 | 3 | 5 | 4 | 5 | 3 | 7 | 9 | 9 |
| Depreciation ⓘ | 6 | 7 | 12 | 17 | 22 | 34 | 33 | 37 | 45 | 56 |
| Exceptional Items ⓘ | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 48 | 58 | 64 | 82 | 76 | 62 | 120 | 109 | 181 | 356 |
| Tax ⓘ | 16 | 17 | 21 | 29 | 25 | 7 | 30 | 29 | 42 | 86 |
| Profit After Tax | 32 | 41 | 44 | 53 | 51 | 55 | 90 | 80 | 138 | 270 |
| PAT Margin (%) | 6.9% | 7.5% | 7.2% | 6.8% | 5.7% | 5.2% | 6.9% | 5.0% | 7.1% | 11.8% |
| Adjusted EPS (₹) | 1.4 | 1.8 | 1.9 | 2.3 | 2.1 | 2.3 | 3.7 | 3.2 | 5.6 | 10.8 |
| Dividend Payout Ratio (%) | 0% | 11% | 11% | 9% | 10% | 9% | 5% | 9% | 14% | 9% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 195 | 231 | 260 | 307 | 470 | 528 | 604 | 820 | 948 | 1,222 |
| Share Capital ⓘ | 23 | 23 | 23 | 23 | 24 | 24 | 24 | 25 | 25 | 25 |
| Reserves ⓘ | 172 | 208 | 236 | 284 | 446 | 504 | 580 | 795 | 923 | 1,197 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 46 | 97 | 117 | 121 | 67 | 39 | 77 | 108 | 91 | 75 |
| Long Term Debt | 23 | 60 | 64 | 46 | 40 | 17 | 12 | 26 | 26 | 10 |
| Short Term Debt | 23 | 38 | 53 | 76 | 28 | 22 | 65 | 82 | 65 | 65 |
| Trade Payables | 38 | 32 | 18 | 22 | 29 | 14 | 39 | 41 | 51 | 50 |
| Others Liabilities ⓘ | 51 | 24 | 60 | 91 | 81 | 161 | 83 | 237 | 151 | 156 |
| Total Liabilities ⓘ | 329 | 384 | 455 | 541 | 648 | 742 | 803 | 1,206 | 1,240 | 1,503 |
Fixed Assets | ||||||||||
| Gross Block | 121 | 202 | 266 | 364 | 469 | 510 | 543 | 653 | 811 | 1,010 |
| Accumulated Depreciation | 21 | 27 | 38 | 54 | 76 | 110 | 141 | 177 | 210 | 264 |
| Net Fixed Assetsⓘ | 100 | 176 | 228 | 310 | 393 | 400 | 402 | 476 | 602 | 746 |
| CWIP ⓘ | 84 | 83 | 83 | 47 | 13 | 3 | 33 | 48 | 70 | 12 |
| Investmentsⓘ | 10 | 2 | 2 | 3 | 3 | 37 | 87 | 146 | 41 | 60 |
| Inventories | 28 | 23 | 26 | 31 | 38 | 36 | 56 | 70 | 75 | 71 |
| Trade Receivables | 15 | 22 | 26 | 34 | 39 | 42 | 47 | 77 | 85 | 110 |
| Cash Equivalents | 65 | 67 | 1 | 67 | 103 | 88 | 87 | 89 | 96 | 175 |
| Others Assetsⓘ | 26 | 11 | 89 | 49 | 58 | 136 | 91 | 301 | 273 | 328 |
| Total Assets ⓘ | 329 | 384 | 455 | 541 | 648 | 742 | 803 | 1,206 | 1,240 | 1,503 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 54 | 34 | 38 | 78 | 64 | 51 | 121 | 60 | 177 | 243 |
| PBT ⓘ | 48 | 58 | 64 | 82 | 76 | 62 | 120 | 109 | 181 | 356 |
| Adjustment ⓘ | 1 | 6 | 10 | 17 | 19 | 36 | 29 | 39 | 46 | 44 |
| Changes in Working Capital ⓘ | 20 | -17 | -20 | -2 | -10 | -35 | -9 | -47 | -3 | -82 |
| Tax Paid ⓘ | -15 | -13 | -14 | -19 | -21 | -12 | -19 | -41 | -47 | -76 |
| Cash Flow From Investing Activity ⓘ | -95 | -74 | -72 | -63 | -67 | -54 | -129 | -220 | -131 | -207 |
| Capex | -85 | -82 | -77 | -67 | -73 | -39 | -71 | -93 | -89 | -124 |
| Net Investments | -10 | 8 | 0 | -1 | 0 | -21 | -52 | -120 | -25 | -56 |
| Others ⓘ | 0 | 0 | 5 | 5 | 6 | 6 | -7 | -7 | -18 | -27 |
| Cash Flow From Financing Activityⓘ | 87 | 41 | 32 | -10 | 58 | -26 | 2 | 157 | -2 | -45 |
| Net Proceeds from Shares ⓘ | 89 | 0 | 0 | 0 | 122 | 0 | 0 | 150 | 0 | 13 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | -9 | 23 | 7 | -21 |
| Interest Paid ⓘ | 0 | 0 | -3 | -5 | -4 | -5 | -3 | -7 | -9 | -10 |
| Dividend Paid ⓘ | -6 | -5 | -5 | -5 | -5 | -5 | -5 | -5 | -2 | -19 |
| Others ⓘ | 4 | 46 | 40 | -1 | -55 | -16 | 18 | -4 | 3 | -8 |
| Net Cash Flow ⓘ | 47 | 1 | -3 | 5 | 55 | -29 | -6 | -4 | 43 | -10 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 23.19 | 19.35 | 17.85 | 18.63 | 13.13 | 11.12 | 15.85 | 11.23 | 15.66 | 24.87 |
| ROCE (%) | 24.44 | 19.53 | 19.2 | 20.94 | 16.14 | 12.1 | 19.44 | 14.17 | 18.79 | 30.52 |
| Asset Turnover Ratio | 1.83 | 1.55 | 1.45 | 1.57 | 1.53 | 1.55 | 1.69 | 1.66 | 1.63 | 1.71 |
| PAT to CFO Conversion(x) | 1.69 | 0.83 | 0.86 | 1.47 | 1.25 | 0.93 | 1.34 | 0.75 | 1.28 | 0.9 | Working Capital Days |
| Receivable Days | 11 | 12 | 15 | 14 | 15 | 14 | 12 | 14 | 15 | 15 |
| Inventory Days | 18 | 17 | 15 | 13 | 14 | 13 | 13 | 14 | 13 | 11 |
| Payable Days | 46 | 38 | 21 | 16 | 18 | 13 | 12 | 15 | 14 | 14 |
The company was originally incorporated as “Shivdeep Industries Limited” as a public limited company under the Companies Act, 1956 at Bikaner, pursuant to a certificate of incorporation dated October 6, 1995 issued by the Registrar of Companies, Rajasthan at Jaipur (“RoC”) and received a certificate of commencement of business from the RoC on October 27, 1995, following its conversion from the erstwhile partnership firm, “Shivdeep Food Products” to “Shivdeep Industries Limited”. Subsequently, the name of the Company was changed from “Shivdeep Industries Limited” to “Bikaji Foods International Limited” pursuant to the Shareholders’ resolution dated September 8, 2011 and a fresh certificate of incorporation dated October 5, 2011 was issued by the RoC to reflect the change in name.
The company is the third largest ethnic snacks company in India with an international footprint, selling Indian snacks and sweets, and is the second fastest growing company in the Indian organised snacks market. It has given a novel twist to classic Indian snacks with a contemporary taste along with maintaining the regional flavours to address the evolving consumer preferences in India and internationally. The company’s history and lineage traces back to Gangabishan Agarwal, founder of Haldiram brand. His grandson, Shiv Ratan Agarwal, its founder and one of its Promoters, continued his legacy and developed extensive experience in the Indian ethnic snacks industry. Shiv Ratan Agarwal launched the Bikaji brand in the year 1993 with an indepth understanding of Indian tastes and preferences. It has over the years established market leadership in the ethnic snacks market in its core states of Rajasthan, Assam and Bihar with extensive reach, and has gradually expanded its footprint across India.
The company has various operational manufacturing facilities that are operated by it, with four facilities located in Bikaner (Rajasthan), one in Guwahati (Assam), one facility in Tumakuru (Tumkur) (Karnataka) held through of one its subsidiary Petunt Food Processors to cater to the southern markets in India and one facility in Muzaffarpur (Bihar) held through the other subsidiary Vindhyawasini Sales Private Limited to cater to its core market of Bihar, respectively.
Business area of the company
The company is one of India's largest fast-moving consumer goods (FMCG) brands. The company's product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range and cookies.
Awards, accreditations or recognitions
Major events and milestones
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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