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Shareholding Info
  • Promoters
    75.18 %
  • Foreign institutions-FII
    6.89 %
  • Other domestic institutions
    3.99 %
  • Retail and other
    3.98 %
  • Mutual Funds
    9.97 %

Bikaji Foods International Ltd


Bikaji is a very popular household name, not just in India but also in overseas markets, for its ethnic Indian snacks. Founded in 1986 in Bikaner, Rajasthan, the brand has gained worldwide popularity for its ethnic snacks and assorted sweets. The company is the largest producer of Bikaneri Bhujia and the second largest manufacturer of papad. It is a leading supplier of packaged sweets like Rasgulla and Soan papdi.

The company’s journey started in 1986, when its founder Shiv Ratan Agarwal wanted to bring the taste of Bikaneri Bhujia to the masses. In 1993, the brand Bikaji came into existence. The first international consignment was exported to the UAE in 1994, followed by Australia in 1996.

In 2006, the company brought all its companies— Bikaji Foods Private Limited, Bikaji Marketing Limited and Dipus Foods Private Limited— under one umbrella.

The year 2008 was another breakthrough phase for the company as it opened its first restaurant ‘Bikaji Food Junxon’ in Mumbai.

Bikaji Food International launched its initial public offering (IPO) of ₹881 crore in November 2022. It became the only ethnic food company to be listed on the stock exchanges.

Market capitalisaion of Bikaji Foods International stood at nearly ₹14,600 crore, as of January 12, 2024. Bikaji share price has gained nearly 45% in the last one year.

Bikaji business operations


Over the years, Bikaji has established itself as a one-stop destination for bhujia, namkeen, sweets, papad, western snacks and packaged sweets.

Bikaji has a pan-India distribution network covering 25 states and 4 Union Territories (UTs). The company’s global operations expand across 25 countries encompassing the United States, Europe, Middle East, Asia Pacific and Africa regions.

The company houses 4 fully-owned manufacturing facilities with 3 subsidiaries and 2 contractual facilities. Bikaji sets up the manufacturing units near the raw material suppliers and target markets to ensure low transportation costs and swift market entry. To expand the business, in FY 2023-24, Bikaji established 3 new plants in Muzaffarpur, Kanpur, and Bikaner. Its manufacturing facilities are located at Bikaner (Rajasthan), Guwahati (Assam), Tumkur (Karnataka) and Kolkata (West Bengal).

The company offers over 300 snacking items and sweets in 6 categories. Its vast distribution network includes 37 super stockists and more than 1,900 distributors.

Financial Highlights

  • The company’s consolidated revenue from operations stood at ₹1,966 crore in FY23 as against ₹1,611 crore in FY22.
  • Profit after tax (PAT) jumped to ₹126.6 crore in FY23 compared to ₹76 crore in FY22.
  • Its EBITDA (earnings before interest, taxes, depreciation, and amortisation) increased to ₹213.6 crore in FY23 from ₹139.5 crore in FY22.
  • EBITDA margin improved to 10.2% in FY23 from 8.9% in FY22.
  • The company’s earnings per share increased to ₹5.15 in FY23 compared to ₹3.15 in FY22.
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