Bikaji Foods Q3 Results: Profit Misses Estimates, Revenue Rises 15%

Bikaji Foods International Ltd.'s net profit dipped 39% in the third quarter of the current fiscal, missing analysts' estimates.

The savory foods and sweet manufacturer posted a profit of Rs 28.6 crore in the quarter ended Dec. 31, 2024, as compared to Rs 46.6 crore in the same period last fiscal, according to an exchange filing on Thursday. Analysts tracked by Bloomberg had a consensus estimate of Rs 49 crore.

Bikaji Foods Q3 Highlights (Consolidated, YoY)

• Revenue up 15% to Rs 715 crore versus Rs 624 crore (Bloomberg estimate: Rs 694 crore).

• Ebitda down 26% to Rs 55.5 crore versus Rs 75 crore (Estimate: Rs 78 crore).

• Margin narrows to 7.8% versus 12% (Estimate: 11.20%).

• Net profit down 39% to Rs 28.6 crore versus Rs 46.6 crore (Estimate at Rs 49 crore)

The ethnic snacks segment posted a 11% growth in revenue, constituting around 62.1% to the overall revenue, while the papad revenue rose 9.6%, accounting for approximately 6% of the total revenue share.

Packaged sweets noticed a revenue growth of 11%, constituting around 18.1% of the overall revenue. The western snacks division noted a flat revenue growth, representing 6.8% of the total revenue.

For the nine months of fiscal year 2025, revenue from operations grew 17% to Rs 2,008.2 crore, accompanied by a volume growth of 10.9%.

"The company has delivered resilient performance across all categories, despite facing significant inflationary pressures and weak demand sentiments in the market," Managing Director Deepak Agarwal said. "The traditional snacks category has been a major contributor, accounting for 62% of our total revenue, followed by the packaged sweets category, which contributed 18%."

Shares of Bikaji Foods closed 0.56% higher at 733.75 apiece on the National Stock Exchange, compared to a 0.39% fall in the benchmark Nifty. The stock has risen 31.33% in the last 12 months.

All the six analysts tracking the company maintain a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 17.5%.