Ethnic snacks firm Bikaji Foods International Ltd on Thursday (November 5) reported an 11.3% year-on-year decline in net profit to ₹70.78 crore for the second quarter of FY27, compared with ₹79.77 crore in the corresponding quarter last year. The decline came despite a 13.1% increase in revenue, indicating pressure on profitability amid higher expenses.
Revenue from operations rose to ₹921.44 crore from ₹814.9 crore a year ago. Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA), however, declined 7% to ₹119 crore from ₹128 crore, while EBITDA margin contracted to 13% from 15% in the year-ago quarter.
Among business segments, ethnic snacks revenue grew 19.7% year-on-year, while western snacks recorded a 44.2% increase. Packaged sweets revenue declined 11.3%, which the company attributed largely to a shift in the timing of the Diwali festive season, which falls in the subsequent quarter this year.
Papad revenue declined 6.3% due to supply chain issues in handmade papad.
For the first half of FY27, revenue from operations increased 12.8% year-on-year to ₹1,672.8 crore, supported by volume growth of 6.2%. EBITDA stood at ₹217.7 crore, with a margin of 13%, while profit after tax came in at ₹128.4 crore. Earnings per share stood at ₹5.22.
Commenting on the performance, Deepak Agarwal, chairman and managing director of Bikaji Foods International, said the ethnic and western snacks categories recorded healthy volume and value growth.
The Packaged Sweets category is poised to benefit from the festive demand associated with Diwali,which falls in the subsequent quarter this year due to the shift in the festive calendar. We remainconfident in the category’s growth potential and expect the seasonal demand to reflect in the comingquarter.DEEPAK AGARWAL CHAIRMAN &MANAGING DIRECTOR, BIKAJI FOODSINTERNATIONAL LIMITED
He added that the company remains optimistic about the demand environment in the second half of FY27 and is confident of sustaining its growth momentum.
Shares of Bikaji Foods International ended 3.4% higher at ₹489 on the NSE on November 5, ahead of the earnings announcement.
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