NCLT Greenlights Merger: Vindhyawasini Sales to Amalgamate with Bikaji Foods International
The National Company Law Tribunal (NCLT) has approved the scheme of amalgamation between Vindhyawasini Sales and Bikaji Foods International. This merger is expected to potentially lead to operational synergies, strengthen Bikaji's market position, and optimize resources. The amalgamation marks a significant corporate restructuring for Bikaji Foods International, a prominent player in the Indian snack food industry.
Bikaji Foods International Ltd reported impressive Q4 results, surpassing market expectations. Revenue increased by 14.01% to ₹606.90 crore, while net profit rose 43.53% to ₹39.90 crore. Operating profit grew 51.58% to ₹57.60 crore, with OPM improving to 9.65%. The company's focus on high-margin products like Bhujia and Namkeen, which contribute 70% to profitability, has driven growth. Bikaji aims for over 25% export growth in the next three years. JM Financial maintains a 'Buy' rating with a ₹790 target price.
Bikaji Foods International Approves Strategic Investments in Two Subsidiaries
Bikaji Foods International has approved investments totaling ₹35 crore to strengthen its market position. The company will invest ₹15 crore in Bikaji Foods Retail and up to ₹20 crore in Jai Barbareek Dev Snacks. These investments aim to enhance retail operations, potentially expand product offerings, and improve supply chain control.
Bikaji Foods, an Indian snack company, released its Q4 results showing a significant drop in profitability despite flat revenue. The company reported a consolidated revenue of ₹613.60 crore, but saw a 67% decrease in EBITDA to ₹74.30 crore and a 61.60% decline in net profit to ₹44.60 crore compared to the same quarter last year. The EBITDA margin contracted from 36.50% to 12.00%, indicating potential cost pressures or operational challenges.