Bikaji Foods International Ltd - Stock Valuation and Financial Performance

BSE: 543653 | NSE: BIKAJI | Consumer Food | Small Cap

Bikaji Foods Inter. Share Price

854.60 0.00 0.00%
as on 07-Oct'24 16:01

DeciZen - make an informed investing decision on Bikaji Foods Inter.

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Bikaji Foods International stock performance -

mw4me loader
P/E Ratio (SA):
74.59
Market Cap:
21,397.7 Cr.
52-wk low:
450.5
52-wk high:
1,005

Is Bikaji Foods International Ltd an attractive stock to invest in?

1. Is Bikaji Foods International Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Bikaji Foods International Ltd is a good quality company.

2. Is Bikaji Foods International Ltd undervalued or overvalued?

The key valuation ratios of Bikaji Foods International Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Bikaji Foods International Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Bikaji Foods International Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Bikaji Foods Inter.:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Bikaji Foods International Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 24.4%19.5%19.2%20.9%16.1%12.1%19.4%14.2%18.8%30.5%-
Value Creation
Index
1.20.70.70.90.40.10.70.00.41.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 4685516087819021,0751,3081,5991,9442,2952,267
Sales YoY Gr.-17.6%10.4%28.4%15.5%19.1%21.8%22.2%21.6%18%-
Adj EPS 1.41.81.92.32.12.33.73.35.610.811.5
YoY Gr.-31.4%4.4%22.9%-10.4%10.6%62.5%-11.8%71.3%92.5%-
BVPS (₹) 8.49.911.113.219.321.724.932.93848.851.2
Adj Net
Profit
32.14243.853.950.455.690.581.9140271287
Cash Flow from Ops. 54.43437.678.463.851.212159.8177243-
Debt/CF from Ops. 1.32.93.11.81.110.720.60.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 19.3%20.5%20.6%18%
Adj EPS 25.8%39.2%42.8%92.5%
BVPS21.6%20.3%25.2%28.5%
Share Price - - - 81.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
23.219.717.9191311.11611.515.724.822.9
Op. Profit
Mgn %
10.511.612.112.810.38.811.29.111.117.318.4
Net Profit
Mgn %
6.97.67.26.95.65.26.95.17.211.812.7
Debt to
Equity
0.40.40.50.50.20.10.10.20.10.1-
Working Cap
Days
4942595949585670807240
Cash Conv.
Cycle
-23121717181717191722

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 22.90%

Sales growth is growing at healthy rate in last 3 years 20.59%

Net Profit is growing at healthy rate in last 3 years 42.75%

Sales growth is good in last 4 quarters at 13.26%

No data to display

Latest Financials - Bikaji Foods International Ltd.

Standalone Consolidated
TTM EPS (₹) 11.5 11.3
TTM Sales (₹ Cr.) 2,267 2,308
BVPS (₹.) 51.2 50.8
Reserves (₹ Cr.) 1,257 1,248
P/BV 16.69 16.81
PE 74.59 75.72
From the Market
52 Week Low / High (₹) 450.45 / 1005.00
All Time Low / High (₹) 303.05 / 1005.00
Market Cap (₹ Cr.) 21,398
Equity (₹ Cr.) 25
Face Value (₹) 1
Industry PE 70.3

Management X-Ray of Bikaji Foods Inter.:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Bikaji Foods Inter.

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales4685516087819021,0751,3081,5991,9442,295
Operating Expenses 4194885346818109811,1631,4561,7321,900
Manufacturing Costs859819152167185208249282294
Material Costs2853294464485296177879911,1941,298
Employee Cost 273221385165698598109
Other Costs 232948426211498131159200
Operating Profit 4963741009394145142212394
Operating Profit Margin (%) 10.5%11.4%12.1%12.8%10.3%8.7%11.1%8.9%10.9%17.2%
Other Income 526510811102226
Interest 0035453799
Depreciation 671217223433374556
Exceptional Items 000-1000000
Profit Before Tax 485864827662120109181356
Tax 1617212925730294286
Profit After Tax 3241445351559080138270
PAT Margin (%) 6.9%7.5%7.2%6.8%5.7%5.2%6.9%5.0%7.1%11.8%
Adjusted EPS (₹)1.41.81.92.32.12.33.73.25.610.8
Dividend Payout Ratio (%)0%11%11%9%10%9%5%9%14%9%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 1952312603074705286048209481,222
Share Capital 23232323242424252525
Reserves 1722082362844465045807959231,197
Minority Interest0000000000
Debt46971171216739771089175
Long Term Debt23606446401712262610
Short Term Debt23385376282265826565
Trade Payables38321822291439415150
Others Liabilities 512460918116183237151156
Total Liabilities 3293844555416487428031,2061,2401,503

Fixed Assets

Gross Block1212022663644695105436538111,010
Accumulated Depreciation2127385476110141177210264
Net Fixed Assets100176228310393400402476602746
CWIP 8483834713333487012
Investments 10223337871464160
Inventories28232631383656707571
Trade Receivables152226343942477785110
Cash Equivalents 656716710388878996175
Others Assets261189495813691301273328
Total Assets 3293844555416487428031,2061,2401,503

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 54343878645112160177243
PBT 485864827662120109181356
Adjustment 161017193629394644
Changes in Working Capital 20-17-20-2-10-35-9-47-3-82
Tax Paid -15-13-14-19-21-12-19-41-47-76
Cash Flow From Investing Activity -95-74-72-63-67-54-129-220-131-207
Capex -85-82-77-67-73-39-71-93-89-124
Net Investments -1080-10-21-52-120-25-56
Others 005566-7-7-18-27
Cash Flow From Financing Activity 874132-1058-262157-2-45
Net Proceeds from Shares 8900012200150013
Net Proceeds from Borrowing 000000-9237-21
Interest Paid 00-3-5-4-5-3-7-9-10
Dividend Paid -6-5-5-5-5-5-5-5-2-19
Others 44640-1-55-1618-43-8
Net Cash Flow 471-3555-29-6-443-10
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)23.1919.3517.8518.6313.1311.1215.8511.2315.6624.87
ROCE (%)24.4419.5319.220.9416.1412.119.4414.1718.7930.52
Asset Turnover Ratio1.831.551.451.571.531.551.691.661.631.71
PAT to CFO Conversion(x)1.690.830.861.471.250.931.340.751.280.9
Working Capital Days
Receivable Days11121514151412141515
Inventory Days18171513141313141311
Payable Days46382116181312151414

Bikaji Foods International Ltd Stock News

Bikaji Foods International Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Bikaji Foods Inter. on 07-Oct-2024 16:01 is ₹854.6.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 07-Oct-2024 16:01 the market cap of Bikaji Foods Inter. stood at ₹21,397.7.
The latest P/E ratio of Bikaji Foods Inter. as of 07-Oct-2024 16:01 is 74.59.
The latest P/B ratio of Bikaji Foods Inter. as of 07-Oct-2024 16:01 is 16.69.
The 52-week high of Bikaji Foods Inter. is ₹1,005 and the 52-week low is ₹450.4.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bikaji Foods Inter. is ₹2,267 ( Cr.) .

About Bikaji Foods International Ltd

The company was originally incorporated as “Shivdeep Industries Limited” as a public limited company under the Companies Act, 1956 at Bikaner, pursuant to a certificate of incorporation dated October 6, 1995 issued by the Registrar of Companies, Rajasthan at Jaipur (“RoC”) and received a certificate of commencement of business from the RoC on October 27, 1995, following its conversion from the erstwhile partnership firm, “Shivdeep Food Products” to “Shivdeep Industries Limited”. Subsequently, the name of the Company was changed from “Shivdeep Industries Limited” to “Bikaji Foods International Limited” pursuant to the Shareholders’ resolution dated September 8, 2011 and a fresh certificate of incorporation dated October 5, 2011 was issued by the RoC to reflect the change in name.

The company is the third largest ethnic snacks company in India with an international footprint, selling Indian snacks and sweets, and is the second fastest growing company in the Indian organised snacks market. It has given a novel twist to classic Indian snacks with a contemporary taste along with maintaining the regional flavours to address the evolving consumer preferences in India and internationally. The company’s history and lineage traces back to Gangabishan Agarwal, founder of Haldiram brand. His grandson, Shiv Ratan Agarwal, its founder and one of its Promoters, continued his legacy and developed extensive experience in the Indian ethnic snacks industry. Shiv Ratan Agarwal launched the Bikaji brand in the year 1993 with an indepth understanding of Indian tastes and preferences. It has over the years established market leadership in the ethnic snacks market in its core states of Rajasthan, Assam and Bihar with extensive reach, and has gradually expanded its footprint across India.

The company has various operational manufacturing facilities that are operated by it, with four facilities located in Bikaner (Rajasthan), one in Guwahati (Assam), one facility in Tumakuru (Tumkur) (Karnataka) held through of one its subsidiary Petunt Food Processors to cater to the southern markets in India and one facility in Muzaffarpur (Bihar) held through the other subsidiary Vindhyawasini Sales Private Limited to cater to its core market of Bihar, respectively.

Business area of the company

The company is one of India's largest fast-moving consumer goods (FMCG) brands. The company's product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range and cookies.

Awards, accreditations or recognitions

  • 2008: Rajasthan State Award for Export Excellence.
  • 2009: Government of Rajasthan State Award for Export Excellence.
  • 2022: National MSME Award for Business excellence.

Major events and milestones

  • 1986: Establishment of co-partnership business under the name and style of Shivdeep Food Products.
  • 1993: Inception of the brand “Bikaji”.
  • 1994: Initiated exports to UAE.
  • 1995: Conversion of Shivdeep Food Products (partnership) to a public limited company.
  • 1996: Initiated exports to Australia.
  • 2006: Amalgamation of four group companies, i.e., Bikaji Foods Private Limited, Shivdeep Food Products Private Limited, Bikaji Marketing Limited, and Dipu’s Foods Private Limited with the company for consolidate business.
  • 2008: Opened its first restaurant Bikaji Food Junxon in Mumbai.
  • 2014: Raised funds through private equity investment from India 2020 Maharaja, Limited.
  • 2016: Commissioned new facility at Karni Industrial Area, Bikaner.
  • 2018: Raised funds through private equity by a mix of primary and secondary investment from IIFL.
  • 2019: Appointment of Amitabh Bachchan as the brand ambassador of Bikaji.
  • 2021: Acquired Petunt Food Processors Private Limited.
  • 2021: Raised funds through private equity investment from Lighthouse India Fund III, Limited.
  • 2022: Acquired 100% of the issued, subscribed and paid-up equity share capital of Vindhyawasini Sales Private Limited.
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