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Bikaji Foods Q3 FY26 PAT Surges 122% YoY to ₹622 Mn; EBITDA Margins Expand 466 Bps
Bikaji Foods reported a strong Q3 FY26 with revenue growth of 10.7% YoY to ₹7,900 mn, supported by an 8.4% increase in volumes. Profitability saw a massive jump as PAT rose 122.3% YoY to ₹622 mn, driven by favorable raw material costs and strategic cost-efficiency programs. While the packaged sweets segment declined 17.1% due to seasonal shifts, the core ethnic snacks and western snacks segments grew by 13.3% and 22.6% respectively. Export markets and the retail business remained high-growth areas, with exports up 39.1% and retail revenue nearly doubling during the quarter.
Key Highlights
Q3 PAT grew by 122.3% YoY to ₹622 mn, while EBITDA jumped 77.1% to ₹984 mn
EBITDA margins expanded significantly by 466 bps YoY to reach 12.5% in Q3 FY26
Export revenue showed robust momentum with 39.1% YoY growth in Q3 and 58.7% in 9M FY26
Retail business revenue nearly doubled in Q3 to ₹471 mn, reflecting improved store productivity
Ethnic snacks, the largest segment, grew 13.3% YoY and contributes 67.4% to total revenue
💼 Action for Investors
Investors should take note of the significant margin expansion and strong volume growth despite seasonal fluctuations in the sweets category. The company's aggressive export growth and retail expansion make it a compelling long-term play in the organized snacks sector.
Bikaji Foods Approves ₹50Cr Retail Investment and JV for Frozen Bakery Business
Bikaji Foods has announced a major strategic expansion involving a ₹50 Crore capital infusion into its retail subsidiary to scale QSR, café, and travel catering formats. The company is also entering the high-growth frozen bakery segment through a 70:30 joint venture with the founder of 'Bakemart'. Additionally, it is investing ₹25 Crore in Jai Barbareek Dev Snacks via convertible debentures and providing ₹13 Crore in loans to manufacturing partners. These moves signal a significant shift towards becoming a diversified food services player beyond traditional snacks.
Key Highlights
Approved ₹50 Crore additional investment in Bikaji Foods Retail Limited for QSR and café expansion.
Formed a 70:30 Joint Venture with Bakemart founder to enter the frozen bakery market in India.
Authorized ₹25 Crore investment in Jai Barbareek Dev Snacks via 2.5 Crore Optionally Convertible Debentures.
Approved loans of ₹5 Crore to subsidiary Petunt Food and ₹8 Crore to contract unit Dadiji Snacks.
Retail expansion targets diverse formats including mobile food stations, kiosks, and food chains.
💼 Action for Investors
Investors should view these strategic investments as a positive move toward higher-margin retail and bakery segments. Monitor the execution of the QSR rollout and the scaling of the frozen bakery JV as key growth drivers.