Bikaji Foods International has announced the publication of its audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. In compliance with Regulation 47 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, the company published the results in the Financial Express and Nafa Nuksan newspapers on May 22, 2026. The Board of Directors had approved the financial results at a meeting held on May 21, 2026. The complete results are available on the BSE, NSE, and the company's website.
Consolidated Financial Performance
For the quarter ended March 31, 2026, the company reported a consolidated net profit of INR 560 Mn, a 39.8% increase from INR 401 Mn in the corresponding quarter of the previous year. Revenue from operations for the quarter stood at INR 7,209 Mn, up 18.0% year-on-year. EBITDA for the quarter rose to INR 877 Mn, with an EBITDA margin of 12.2%. Earnings per share (EPS) for the quarter stood at INR 2.25. On a full-year basis, consolidated net profit for FY26 increased to INR 2,544 Mn from INR 1,942 Mn in FY25, while revenue from operations grew to INR 29,939 Mn from INR 26,168 Mn in the previous year. The company achieved an EBITDA margin of 13.7% for the full year, with EPS at INR 10.31.
The following table summarizes the consolidated financial performance for the quarter and full year:
| Particulars: |
Q4 FY26 (INR Mn) |
Q4 FY25 (INR Mn) |
YoY Growth (%) |
FY26 (INR Mn) |
FY25 (INR Mn) |
YoY Growth (%) |
| Revenue from Operations |
7,209 |
6,110 |
18.0% |
29,939 |
26,168 |
14.4% |
| Gross Profit |
2,565 |
2,028 |
— |
10,494 |
8,422 |
— |
| Gross Margin (%) |
35.6% |
33.2% |
+240 bps |
35.1% |
32.2% |
+290 bps |
| EBITDA |
877 |
741 |
18.4% |
4,106 |
3,283 |
25.1% |
| EBITDA Margin (%) |
12.2% |
12.1% |
— |
13.7% |
12.5% |
— |
| PAT |
560 |
401 |
39.8% |
2,544 |
1,942 |
31.0% |
| PAT Margin (%) |
7.8% |
6.6% |
— |
8.5% |
7.4% |
— |
| EPS (Basic) |
2.25 |
1.79 |
— |
10.31 |
8.02 |
— |
Balance Sheet Highlights
The company's consolidated balance sheet as of March 31, 2026 reflects continued financial strength. Total assets stood at INR 22,395 Mn compared to INR 19,341 Mn in the previous year. Cash and cash equivalents (inclusive of fixed deposits and interest accrued) increased to INR 4,490 Mn from INR 3,237 Mn. Total equity rose to INR 17,074 Mn from INR 14,805 Mn, while borrowings stood at INR 2,098 Mn.
| Particulars: |
31st March 2026 (INR Mn) |
31st March 2025 (INR Mn) |
| Property, Plant & Equipment (incl. CWIP & RoU) |
11,847 |
10,843 |
| Cash & Cash Equivalents (incl. FD & interest accrued) |
4,490 |
3,237 |
| Inventories |
1,174 |
1,079 |
| Trade Receivables |
1,071 |
1,009 |
| Other Assets |
3,814 |
3,172 |
| Total Assets |
22,395 |
19,341 |
| Total Equity |
17,074 |
14,805 |
| Borrowings |
2,098 |
1,535 |
| Trade Payables |
648 |
689 |
| Other Liabilities |
2,576 |
2,312 |
| Total Liabilities |
22,395 |
19,341 |
Operational and Distribution Highlights
The company delivered volume growth of 19.4% and value growth of 18.0% in Q4 on a year-on-year basis, and 9.5% volume growth for the full year. Gross margin for the quarter stood at 35.6%, representing a growth of 240 basis points year-on-year, while the full-year gross margin expanded by 290 basis points. Focus markets registered a growth of 15.0% YoY during the quarter. Direct coverage increased by approximately 9,638 outlets to reach 3.54 lakh outlets as of March 31, 2026, with overall total reach standing at 14.0 lakh outlets.
Business Segment Performance
Revenue growth was well-distributed across key categories during the quarter. The following table presents the category-wise performance:
| Category: |
Q4 FY26 YoY Growth (%) |
FY26 YoY Growth (%) |
FY26 Revenue Mix (%) |
| Ethnic Snacks |
16.1% |
11.2% |
~68.9% |
| Packaged Sweets |
14.4% |
8.9% |
— |
| Western Snacks |
8.6% |
6.8% |
— |
| Papad |
11.6% |
10.9% |
— |
Ethnic Snacks contributed approximately 73.8% of overall revenue in Q4 FY26. The company's total installed manufacturing capacity as of March 31, 2026 stood at 3,25,320 metric tonnes across all categories.
Manufacturing Capacity
The company's installed capacity as of March 31, 2026 across product categories is detailed below:
| Category: |
Capacity (Metric Tonnes) |
| Bhujia |
57,600 |
| Namkeen |
1,41,540 |
| Packaged Sweets |
62,280 |
| Western Snacks |
39,300 |
| Papad |
11,400 |
| Others |
13,200 |
| Total |
3,25,320 |
Strategic and Marketing Initiatives
During the year, Bikaji Foods executed two major brand campaigns. The "Kya Baat Hai Ji" campaign was the company's first-ever regional campaign focused on Uttar Pradesh, featuring Pankaj Tripathi as the brand ambassador, aimed at positioning Bikaji as an essential household habit brand in the state. The "Bhujia Ho To Bikaji" mega campaign reinforced the brand's strong association with the bhujia category and witnessed strong consumer engagement across markets. The company also undertook a Paytm on-the-go (OTG) packs consumer offer that contributed to a spike in sales and enhanced consumer engagement. Additionally, Bikaji undertook a logo and packaging revamp, optimising pack sizes and benchmarking against industry standards. The stock generated a CAGR of 24% versus the BSE Sensex, which delivered a CAGR of 14% over the last two years.
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