Bikaji Foods International Limited — Investor Meet, 02-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Bikaji Foods saw strong Q3 FY'26 snack growth (ethnic +13.5%, Western +20%+) despite Diwali's sweet business dip. Overall snack category grew 14%+. Gross margin remained 35%, with EBITDA at 12.5%. Management highlights GST benefits, expanded 1.4 million distribution outlets, and successful Bhujia marketing campaigns as key drivers. Strategic moves include INR60 Cr invested in Hazelnut Factory (40% stake) and a new JV, Bikaji Bakes, for premium frozen bakery products targeting INR100 Cr. Outlook suggests 14-16% core category growth and improved EBITDA margins, with management confident in continued momentum and market share gains.