Bikaji Foods International Limited — Investor Meet, 21-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Bikaji Foods reported 14.8% revenue growth and 10.3% volume growth in FY25, recovering from Q3 supply challenges. Q4 gross margin improved to ~31.8% driven by better raw material costs and price hikes. Ethnic snacks grew 12% YoY; western snacks rebounded 21.5% in Q4. Direct distribution exceeded 3.11 lakh outlets, with plans to add 50,000 annually. FY26 volume growth is expected at 12-13%, aided by category expansion and pack penetration. EBITDA margin is targeting ~15% over 3-5 years, supported by branding and cost efficiencies. Modern trade and e-commerce now contribute ~8% and ~2% of revenue, growing faster than overall sales. Logistics expansion includes a ₹60-65 Cr warehouse; capex focus remains on maintenance and capacity. Growth will be organic with measured M&A and focus on market share in key states and new regions.