Bikaji Foods stock leaps 10% as investors cheer strong Q2 earnings

Bikaji Foods International is the third largest ethnic snacks manufacturer in India, with an international presence selling Indian snacks and sweets.

Shares of Bikaji Foods International surged up to nearly 10 percent after the company reported positive quarterly earnings for the quarter ended September 30, 2024. (Q2 FY25).

The snacks manufacturer reported a net profit rise of 14.7 percent on-year at Rs 68.6 crore during the quarter under review. The company's revenue surged by 19 percent YoY to Rs 721.2 crore during this period.

At the operation level, Bikaji's earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 22 percent YoY to Rs 106.7 crore, with the EBITDA margin expanding to 14.8 percent from 14.4 per cent a year earlier.

Bikaji Foods International is the third largest ethnic snacks manufacturer in India, with an international presence selling Indian snacks and sweets. It is also the second fastest-growing company in the Indian organised snacks market.

Its product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks, and other snacks, which primarily feature gift packs (assortments), frozen food, mathri, and cookies.

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Segment-wise, revenue from the papad category grew by 26 percent YoY, while western snacks and packaged sweets saw increases of 23 percent and 22 percent, respectively.

Ethnic snacks revenue rose by 10.5 percent, contributing 63.8 percent to overall revenue, while papads accounted for 4.1 percent, and western snacks and packaged goods contributed 8.3 percent and 17.5 percent, respectively.

At 12:12 pm, Bikaji Foods shares were trading over 4 percent higher at Rs 870.65 on the National Stock Exchange (NSE). The stock has risen around 60 percent so far this year, outperforming Nifty's returns of 12 percent.

In the past 12 months, the counter has gained 85 percent. In comparison, Nifty rose 28 percent during this period.

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