Bikaji Foods International has announced board approval for a strategic investment of ₹250 million in Jai Barbareek Dev Snacks, marking a significant expansion move for the established snacks manufacturer.

Investment Details

The company's board has formally approved this substantial financial commitment, which represents a key strategic initiative in the competitive snacks market. The investment demonstrates Bikaji Foods International's commitment to expanding its market presence and strengthening its position in the industry.

Strategic Significance

This investment decision reflects the company's strategic approach to growth through targeted investments and partnerships. The move into Jai Barbareek Dev Snacks aligns with Bikaji Foods International's expansion strategy in the snacks segment.

The approval of this significant investment amount indicates the company's confidence in the potential returns and strategic value of this partnership. This development represents an important milestone in the company's growth trajectory and market expansion efforts.

Bikaji Foods International Limited announced its unaudited financial results for the third quarter of FY26 ended December 31, 2025, demonstrating strong operational performance across key metrics. The company's Board of Directors approved the results at their meeting held on January 27, 2026, along with several strategic business decisions. Following the results announcement, management conducted an earnings conference call on January 28, 2026, providing detailed insights into performance drivers and strategic initiatives.

Financial Performance Highlights

The company delivered impressive financial results for Q3FY26, with significant growth in both revenue and profitability metrics.

Revenue from operations reached ₹71,654.78 lakhs in Q3FY26 compared to ₹65,963.84 lakhs in the corresponding quarter of the previous year, marking an 8.7% year-on-year increase. Other operating income contributed ₹1,413.10 lakhs during the quarter.

Performance Drivers and Market Dynamics

During the earnings call, CFO Rishabh Jain explained that Q3FY26 represented "a story of 2 halves." While the sweet business experienced negative growth due to early Diwali celebrations in October, the core snacking categories demonstrated robust performance. Ethnic snacks grew at 13.5% while Western snacks achieved over 20% growth, resulting in an overall snack category growth of 14%.

The company benefited from GST rate reduction implemented in September, which enabled volume growth improvements. Management reported volume growth of 8.4% for the quarter, with ethnic snacks and Western snacks showing particularly strong momentum.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, the company maintained its growth trajectory with consistent performance improvements.

The nine-month results reflect the company's ability to sustain growth momentum throughout the fiscal year, with profit margins showing substantial improvement.

Strategic Business Initiatives

The Board of Directors approved several key strategic decisions during their January 27, 2026 meeting, focusing on expansion and diversification initiatives.

Joint Venture for Bakery Business

The company executed a Joint Venture cum Shareholders Agreement with Mr. Deepak Agarwal, Managing Director, and Mr. Thayekunni Khaleel, Founder of Brand 'Bakemart'. This strategic partnership aims to synergize combined experience and expertise for undertaking frozen and bakery business operations in India through Bikaji Bakes Private Limited. The venture will focus on premium breads, cakes, and frozen products with potential to generate ₹100 crore in revenue over three years.

Marketing and Distribution Expansion

COO Manoj Verma highlighted successful marketing campaigns during the quarter. The "Bhujia Ho Toh Bikaji" campaign launched in September delivered strong results in the Bhujia category, contributing to 16-17% growth in traditional snacks. Additionally, the company launched a UP-specific campaign "Kya Baat Hai Ji" featuring Pankaj Tripathi, while continuing its national partnership with Amitabh Bachchan.

The company's distribution network expanded to 1.4 million outlets with direct reach of 3.35 lakh outlets. The retail business achieved 86% growth, generating ₹47 crore revenue from 23 stores.

Operational and Regulatory Updates

During the current quarter, the company implemented a change in accounting policy for inventory valuation, transitioning from First-In First-Out (FIFO) to Weighted Average Cost (WAC) method. This change was made to better reflect consumption patterns in the manufacturing environment and provide more reliable information.

The company also addressed compliance with new labour codes consolidated by the Government of India on November 21, 2025. Management confirmed that the company is already compliant with basic wage criteria for own employees, with no material impact expected.

Consolidated Results Overview

On a consolidated basis, the company reported total revenue from operations of ₹79,001.43 lakhs for Q3FY26, compared to ₹71,354.56 lakhs in Q3FY25. Consolidated net profit attributable to owners reached ₹6,217.96 lakhs, significantly higher than ₹2,874.89 lakhs in the corresponding previous quarter.

The trading window for equity shares will reopen from January 30, 2026, following the completion of the results announcement process.