Bikaji Foods International (BIKAJI) Q1 26/27 earnings summary

Executive summary

• Achieved 12.5% YoY revenue growth in Q1 FY27, reaching INR 7,343 million, with volume growth of 7.7%, despite early disruptions from labor shortages and production outages.

• Festive season demand is robust, with strong momentum in June and July and a positive outlook for upcoming quarters.

• Retail business expanded rapidly, with store count rising from 15 to 28 YoY and retail sales up 71.8% to INR 364 million.

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, were approved and reviewed by the Board and auditors.

• Board approved investment of ₹1,500 lakhs in a Nepal joint venture and incorporation of a wholly-owned subsidiary in Abu Dhabi.

Financial highlights

• Revenue from operations: INR 7,343 million (up 12.5% YoY, up 1.9% QoQ); consolidated revenue at ₹72,032.82 lakhs, up from ₹66,266.33 lakhs YoY.

• EBITDA: INR 990 million (up 2.8% YoY, up 12.8% QoQ); EBITDA margin at 13.5%.

• PAT: INR 595 million (up 1.6% YoY, up 6.1% QoQ); consolidated net profit at ₹5,947.40 lakhs, up from ₹5,852.77 lakhs YoY.

• Gross margin improved by 70 bps YoY to 35.7%.

• EPS (Basic): 2.40 (vs. 2.39 YoY); standalone basic EPS at ₹2.58, up from ₹2.52 YoY.

Outlook and guidance

• Targeting 15%+ revenue growth for FY27, with mid- to high-teen growth expected in coming quarters.

• Margin guidance for FY27 is 13%-13.5% (including PLI), with a long-term target of 15% operating margin in three years.

• Board actions indicate continued expansion in international markets and strategic investments in joint ventures.

• No further price hikes planned until after the festive season; ad spend to remain at ~2% of sales.

• Management highlighted continued focus on direct distribution and new product launches to drive growth.