Shares of Mrs Bectors Food Specialities surged over 3 percent to Rs 1,264 apiece on May 31 after it reported strong results for the January-March quarter (Q4FY24).
So far this year, the stock of this bakery player has surged over 7 percent, outperforming 3 percent rise in the benchmark Nifty 50 index. Earlier, Mrs Bectors Food shares had hit 52-week high of Rs 1,373 apiece on November 13, 2023.
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Mrs Bectors revenue climbed by 17.4 percent year-on-year (YoY) to Rs 406 crore in Q4FY24 from Rs 346 crore in the year-ago period. The company's profit-after-tax (PAT) rose by 21.6 percent YoY to Rs 33 crore in the March quarter.
Meanwhile, its earnings before interest, tax, depreciation, and amortisation (EBITDA) jumped by 21 percent on-year to Rs 58 crore in Q4FY24, while EBITDA margin expanded by 50 basis points (bps) to 14.4 percent from 13.9 percent in Q4FY23.
Commenting on Q4 results, Anoop Bector, Managing Director said that they will continue to focus on premiumisation of products and increasing footprint in both existing and new territories by enhancing retail touchpoints and expanding distribution reach.
ALSO READ: Mrs Bectors Food Specialities: Set to outperform the industry
Mrs Bectors Food deals in premium and mid-premium biscuits segment in North India under the brand 'Cremica' offering creams and cracker biscuits. It is also a leading bakery player in India under the brand 'English Oven' offering whole wheat bread, multigrain bread, and foot-long bread.
Earlier, analysts at Elara Securities had shared a 'buy' call for Mrs Bectors with a target price of Rs 1,414 per share, expecting premiumisation trend to continue, which would thereby further bolster company's revenues.
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