Bikaji Foods International Ltd. · NSE:BIKAJI
Bikaji Foods International — Q3 FY26 Earnings Presentation
30 slides from Bikaji Foods International's earnings presentation, Jan 27, 2026
Slide 1: Cover letter to stock exchanges
BIKAJI FOODS INTERNATIONAL LIMITED F 196-199, F 178 & E 188, Bichhwal Industrial Area, Bikaner, Rajasthan, India – 334006 T: +91-151-2250350 | E: cs@bikaji.com | W: www.bikaji.com CIN: L15499RJ1995PLC010856 | GST No.: 08AAICS1030P1Z5 Ref: BFIL/SEC/2025-26/103 Date: January 27, 2026 To, Dept of Corpo
Slide 2: Q3 FY26 Earnings Presentation
Bikaji Foods International Limited Q3 FY26 EARNINGS PRESENTATION January 27th, 2026| Bikaner
Slide 3: Table of Contents
TABLE OF CONTENTS 1 Financial Highlights 4 2 Manufacturing Facilities 6 3 Pan India Distribution 7 4 Marketing Initiatives 8 5 Business Performance 14 6 Key Quarterly Highlights / Commentary 26 7 Consolidated Financial Performance 27 8 Company Share Price Performance 28
Slide 4: Disclaimer
DISCLAIMER This presentation may have certain statements that may be “forward looking” including those relating to general business plans and strategy of Bikaji Foods International Ltd., its outlook and growth prospects. The actual results may differ materially from these forward-looking statements
Slide 5: Q3FY26 Key Financial Highlights
Q3FY26 KEY FINANCIAL HIGHLIGHTS 10.7% Strong Quarter Performance with Revenue from operations 34.7% Gross Margin & INR 7,900 mn 12.5% EBITDA Margin 8.4% underlying volume growth 34.7% 12.5% 77.1% 122.3% Gross Margin at EBITDA Margin at EBITDA Growth PAT Growth (up 586 bps YoY) (up 466 bps YoY) INR 9
Slide 6: 9MFY26 Key Financial Highlights
9MFY26 KEY FINANCIAL HIGHLIGHTS 13.3% Strong Nine Month Performance with Revenue from operations 34.9% Gross Margin & INR 22,730 mn 14.2% EBITDA Margin 8.8% underlying volume growth 34.9% 14.2% 27.1% 28.7% Gross Margin at EBITDA Margin at EBITDA Growth PAT (up 300 bps YoY) (up 154 bps YoY) INR 3,228
Slide 7: Manufacturing Facilities
MANUFACTURING FACILITIES Category wise Installed Capacity Manufacturing facilities Installed Capacity as of 31st December 2025 Capacity Category (in metric tones) Bhujia 57,600 Namkeen 141,540 Packaged Sweets 62,280 Western Snacks 39,300 Papad 11,400 Others 13,200 Total 325,320 Strategically located
Slide 8: Pan India Distribution
PAN INDIA DISTRIBUTION Direct Coverage (No. of Outlets) 4,00,000 3,34,068 3,29,282 3,50,000 3,26,361 3,11,331 Delhi / NCR 2,88,431 3,00,000 2,78,150 Ghaziabad 2,72,040 2,51,270 2,50,000 Varanasi Ahmedabad 2,00,000 1,49,245 Raipur 1,50,000 Pune 1,00,000 50,000 Core Focused - Others Mar-23 Mar-24 Jun-
Slide 9: Marketing Initiatives
MARKETING INITIATIVES
Slide 10: Bhujia Ho To Bikaji - Overview
Bhujia Ho To Bikaji - Overview ATL Amplification BTL Amplification Social Media 1. TVC – BHTB TVC running on leading channels – India TV, Aaj Tak, Sony Max, Colors, Zee Cinema, KBC, Sony television etc. 2. Radio – Total of 10k+ spots/per day across Rajasthan, Assam, Bihar, Gujarat, HP, Haryana, Chha
Slide 11: Paytm and Festive Campaign
Paytm and Festive Campaign Paytm Festive Regions – Pan – India Publications – TOI, Dainik Bhaskar, Patrika, Tribune, etc.. The campaign leveraged strategic partnerships with 5 mega (macro) influencers to amplify scale and credibility. These collaborations significantly enhanced campaign reach, drove
Slide 12: Kya Baat Hai Ji – Campaign details
Kya Baat Hai Ji – Campaign details ➢ A specially crafted campaign for 13 cities across Uttar Pradesh, starring beloved actor Pankaj Tripathi. This initiative reimagines namkeen as more than just a snack—it's an emotional bridge connecting people, celebrations, and the rich cultural tapestry of UP. W
Slide 13: Kya Baat Hai Ji – UP Campaign Amplification
Kya Baat Hai Ji – UP Campaign Amplification ATL Amplification BTL Amplification 1. Cinema – Screening of the Kya Baat Hai Ji advertisement at a frequency of 3 spots per day across leading cinema halls in Uttar Pradesh, covering 110 screens in key cities. 2. OOH – 63+ Outdoor hoardings deployed at hi
Slide 14: Unveiling the New Logo
Unveiling the New Logo ➢ Introduced a refreshed Bikaji logo as part of the brand’s next growth phase ➢ Rooted in Rajasthani heritage, the royal shield draws from Bikaji’s cultural origins, symbolizing trust, legacy, and pride. ➢ Rolled out across new packaging, communication assets, and market touch
Slide 15: Business Performance
BUSINESS PERFORMANCE
Slide 16: Q3FY26 Core Business Performance
Q3FY26 CORE BUSINESS PERFORMANCE (INR Mn) Volume (in tonnes) Revenue from Operations Ethnic Snacks 8.4% 10.7% 13.3% 43,877 8,303 7,900 39,218 7,135 36,173 4,897 4,805 4,321 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 Packaged Sweets Western Snacks Papad - 17.1% 22.6% 14.6% 1,600 4
Slide 17: 9MFY26 Core Business Performance
9MFY26 CORE BUSINESS PERFORMANCE (INR Mn) Volume (in tonnes) Revenue from Operations Ethnic Snacks 8.8% 13.3% 9.6% 1,16,069 22,730 14,326 1,00,664 20,058 13,075 9MFY25 9MFY26 9MFY25 9MFY26 9MFY25 9MFY26 Packaged Sweets Western Snacks Papad 8.1% 6.1% 10.6% 2,906 1,153 2,688 1,709 1,610 1,043 9MFY25 9
Slide 18: Q3FY26 Product Mix
Q3FY26 PRODUCT MIX (in %) Q3FY25 Q3FY26 6.3% 5.8% 6.2% 6.5% 7.0% 8.0% 64.4% 67.4% 16.1% 12.3% Ethnic Snacks Packaged Sweets Western Snacks Ethnic Snacks Packaged Sweets Western Snacks Papad Others Papad Others www.bikaji.com 17
Slide 19: 9MFY26 Product Mix
9MFY26 PRODUCT MIX (in %) 9MFY25 9MFY26 3.7% 5.5% 5.5% 5.4% 8.4% 8.0% 68.3% 67.4% 14.0% 13.7% Ethnic Snacks Packaged Sweets Western Snacks Ethnic Snacks Packaged Sweets Western Snacks Papad Others Papad Others www.bikaji.com 18
Slide 20: Q3FY26 Core & Focus Markets Performance
Q3FY26 CORE & FOCUS MARKETS PERFORMANCE (INR Mn) Core Focus 8.4% 7.0% 5,028 5,028 1,218 977 1,045 4,637 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 Other Exports -2.1% 39.1% 1,093 511 411 802 785 295 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 www.bikaji.com 19
Slide 21: 9MFY26 Core & Focus Markets Performance
9MFY26 CORE & FOCUS MARKETS PERFORMANCE (INR Mn) Core Focus 7.5% 10.2% 14,503 13,497 3,082 2,796 9MFY25 9MFY26 9MFY25 9MFY26 Other Exports 18.7% 58.7% 2,457 1,218 768 2,071 9MFY25 9MFY26 9MFY25 9MFY26 www.bikaji.com 20
Slide 22: Q3FY26 Core & Focus Markets-wise Mix
Q3FY26 CORE & FOCUS MARKETS-WISE MIX Q3FY25 Q3FY26 4.4% 5.6% 12.0% 10.8% 69.1% 69.2% 14.6% 14.4% Core Focus Others Export Core Focus Others Export www.bikaji.com 21
Slide 23: 9MFY26 Core & Focus Markets-wise Mix
9MFY26 CORE & FOCUS MARKETS-WISE MIX 9MFY25 9MFY26 4.0% 5.7% 10.8% 11.6% 14.6% 70.5% 68.2% 14.5% Core Focus Other Export Core Focus Other Export www.bikaji.com 22
Slide 24: Q3FY26 SKU Mix - Market Leader in Family Pack Segment
Q3FY26 SKU MIX- MARKET LEADER IN FAMILY PACK SEGMENT (INR Mn) Family Packs Impulse Packs 5.3% 9.1% 2,688 5,191 2,639 4,157 4,380 2,465 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q3FY26 37.2% 38.0% 62.8% 62.0% Family packs Impulse packs Family packs Impulse packs www.bikaji.com 23
Slide 25: 9MFY26 SKU Mix - Market Leader in Family Pack Segment
9MFY26 SKU MIX- MARKET LEADER IN FAMILY PACK SEGMENT (INR Mn) Family Packs Impulse Packs 13.2% 6.8% 13,154 7,877 11,620 7,375 9MFY25 9MFY26 9MFY25 9MFY26 9MFY25 9MFY26 38.8% 37.5% 61.2% 62.5% Family packs Impulse packs Family packs Impulse packs www.bikaji.com 24
Slide 26: Retail Business Performance
RETAIL BUSINESS PERFORMANCE (INR Mn) Revenue from Operations Store Count 86.6% 471 21 23 252 283 14 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 Revenue from Operations Store Count 153.5% 23 965 14 381 9MFY25 9MFY26 9MFY25 9MFY26 www.bikaji.com 25
Slide 27: Key Quarterly Highlights/Commentary
KEY QUARTERLY HIGHLIGHTS/COMMENTARY Key Financial Performance (INR Mn) Particulars Q3 FY26 YoY (%) QoQ (%) Total Revenue from Operations 7,900 10.7% -4.9% EBITDA 984 77.1% -23.3% PAT 622 122.3% -20.0% Quarterly Performance ➢ Delivered overall volume growth of 8.4% and value growth of 11.1% in Q3 YoY
Slide 28: Consolidated Financial Performance | P&L
CONSOLIDATED FINANCIAL PERFORMANCE | P&L (INR Mn) Quarter ended Quarter ended Quarter ended 9MFY26 9MFY25 Particulars st st st st 31 December 2025 30th September 2025 31 December 2024 31 December 2025 31 December 2025 Revenue from Operations 7,900 8,303 7,135 22,730 20,058 Other Income 113 123 77 33
Slide 29: Company Share Price Performance
COMPANY SHARE PRICE PERFORMANCE The stock generated a CAGR of 24% vs BSE Sensex which gave a CAGR of 14% over the last 2 year. Market Capitalization INR 18,789 crore (as of 31st Dec 2025) Market Capitalization INR 12,188 crore (as of 30th Sep 2023) Bikaji Foods BSE Sensex BSE FMCG www.bikaji.com 28
Slide 30: Bikaji Foods International Ltd.
Bikaji Foods International Ltd. Rishabh Jain | Email: rishabh@bikaji.com Prateek Sharma | Email: prateek.sharma@bikaji.com Registered Office: F 196 -199, F 178 & E 188 Bichhwal IND. Area, Bikaner RJ 334006 IN. Corporate Office: Plot No.E-558-561, C-569-572, E-573-577,f-585-592 Karni Extension, Riico
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