Bikaji Foods International Ltd. · NSE:BIKAJI
Bikaji Foods International — Q2 FY26 Earnings Presentation
29 slides from Bikaji Foods International's earnings presentation, Nov 11, 2025
Slide 1: Stock exchange cover letter for investor presentation
BIKAJI FOODS INTERNATIONAL LIMITED F 196-199, F 178 & E 188, Bichhwal Industrial Area, Bikaner, Rajasthan, India – 334006 T: +91-151-2250350 | F: +91-151-2251814 | E: cs@bikaji.com | W: www.bikaji.com CIN: L15499RJ1995PLC010856 | GST No.: 08AAICS1030P1Z5 Ref: BFIL/SEC/2025-26/85 Date: November 11, 2
Slide 2: Bikaji Foods International Limited Q2 FY26 Earnings Presentation
Bikaji Foods International Limited Q2 FY26 EARNINGS PRESENTATION November 11th, 2025| Gurugram
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 11 6 Key Quarterly Highlights / Commentary 23 7 Sensitivity in Key Material Categories 24 8 Consolidated Financial Performance 25
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: Q2FY26 Key Financial Highlights
Q2FY26 KEY FINANCIAL HIGHLIGHTS 15.2% Strong Quarter Performance with Revenue from operations 35.0% Gross Margin & 15.4% EBIDTA Margin INR 8,303 mn 10.8% underlying volume growth 35.0% 15.4% 20.1% 13.5% Gross Margin at EBITDA EBITDA growth PAT growth (up 170 bps YoY) INR 1,282 mn (up 130 bps YoY ex
Slide 6: H1FY26 Key Financial Highlights
H1FY26 KEY FINANCIAL HIGHLIGHTS 14.8% Strong half yearly Performance with Revenue from operations 35.0% Gross Margin & 15.1% EBIDTA Margin INR 14,830 mn 9.4% underlying volume growth 35.0% 15.1% 13.1% 7.9% Gross Margin at EBITDA EBITDA growth PAT growth (up 140 bps YoY) INR 2,245 mn (up 50 bps YoY e
Slide 7: Manufacturing Facilities
MANUFACTURING FACILITIES Category wise Installed Capacity Manufacturing facilities Installed Capacity as of 30th September 2025 Easy access Located in core market - reduced to cow milk, logistic costs & Capacity dew bean build sales in Category (moth dal) & (in metric tones) moong dal western snacks
Slide 8: Pan India Distribution
PAN INDIA DISTRIBUTION Direct Coverage (No. of Outlets) 4,00,000 3,29,282 3,11,331 3,50,000 3,26,361 2,78,150 Delhi / NCR 2,88,431 3,00,000 2,72,040 Ghaziabad 2,50,000 Varanasi 1,62,332 Ahmedabad 2,00,000 1,49,245 Raipur 1,50,000 1,00,000 Pune 50,000 Core - Focused Mar-23 Jun-23 Jun-24 Sep-24 Dec-24
Slide 9: Marketing Initiatives
MARKETING INITIATIVES
Slide 10: Campaigns, Collaborations and ATL
Campaigns, Collaborations and ATL Launched Paytm Cash back offer and “Bhujia Ho To Bikaji” Campaign Bikaji's 100% Cashback Promise on Paytm 5 Rs. 10 Rs. 7 Brands and 14 SKU’s User Scans 408k+ Redemptions 18k+ Redemption Rate 4.53% Proud partners for leading associations – Sunny Sanskari ki Tulsi Kum
Slide 11: BTL Amplification (Paytm and Bhujia ho to Bikaji)
BTL AMPLIFICATION (Paytm and Bhujia ho to Bikaji) 10
Slide 12: Business Performance
BUSINESS PERFORMANCE
Slide 13: Q2FY26 Core Business Performance
Q2FY26 CORE BUSINESS PERFORMANCE (INR Mn) Volume (in tonnes) Revenue from Operations Ethnic Snacks 10.8% 15.2% 4.6% 43,877 8,304 39,607 7,212 4,595 4,625 4,805 33,213 6,527 Q2FY25 Q1FY26 Q2FY26 Q2FY25 Q1FY26 Q2FY26 Q2FY25 Q1FY26 Q2FY26 Packaged Sweets Western Snacks Papad 32.3% -5.2% 10.3% 354 324 1
Slide 14: H1FY26 Core Business Performance
H1FY26 CORE BUSINESS PERFORMANCE (INR Mn) Volume (in tonnes) Revenue from Operations Ethnic Snacks 9.4% 14.8% 7.7% 77,090 14,831 9,429 70,491 12,933 8,754 H1FY25 H1FY26 H1FY25 H1FY26 H1FY25 H1FY26 Packaged Sweets Western Snacks Papad 25.1% -0.7% 7.9% 678 1,137 1,129 2,009 629 1,605 H1FY25 H1FY26 H1F
Slide 15: Q2FY26 Product Mix
Q2FY26 PRODUCT MIX (in %) Q2FY25 Q2FY26 4.6% 10.3% 4.2% 4.0% 8.5% 7.0% 65.5% 59.1% 17.2% 19.7% Ethnic Snacks Packaged Sweets Western Snacks Ethnic Snacks Packaged Sweets Western Snacks Papad Others & Retail Papad Others & Retail 14
Slide 16: H1FY26 Product Mix
H1FY26 PRODUCT MIX (in %) H1FY25 H1FY26 3.4% 8.6% 5.1% 4.7% 9.2% 7.8% 70.5% 65.1% 12.9% 13.9% Ethnic Snacks Packaged Sweets Western Snacks Ethnic Snacks Packaged Sweets Western Snacks Papad Others & Retail Papad Others 15
Slide 17: Q2FY26 Core & Focus Markets Performance
Q2FY26 CORE & FOCUS MARKETS PERFORMANCE (INR Mn) Core Focus 5.6% 12.3% 5,028 4,762 1,218 1,084 820 4,448 Q2FY25 Q1FY26 Q2FY26 Q2FY25 Q1FY26 Q2FY26 Other Exports 34.8% 77.3% 1,093 511 811 288 296 579 Q2FY25 Q1FY26 Q2FY26 Q2FY25 Q1FY26 Q2FY26 16
Slide 18: H1FY26 Core & Focus Markets Performance
H1FY26 CORE & FOCUS MARKETS PERFORMANCE (INR Mn) Core Focus 6.9% 12.0% 9,476 8,861 2,037 1,820 H1FY25 H1FY26 H1FY25 H1FY26 Other Exports 31.8% 70.9% 808 1,672 1,269 473 H1FY25 H1FY26 H1FY25 H1FY26 17
Slide 19: Q2FY26 Core & Focus Markets-wise Mix
Q2FY26 CORE & FOCUS MARKETS-WISE MIX Q2FY25 Q2FY26 4.2% 6.5% 11.7% 13.9% 68.6% 64.0% 15.6% 15.5% Core Focus Other Export Core Focus Other Export 18
Slide 20: H1FY26 Core & Focus Markets-wise Mix
H1FY26 CORE & FOCUS MARKETS-WISE MIX H1FY25 H1FY26 3.8% 5.8% 10.2% 11.9% 14.6% 71.3% 67.7% 14.6% Core Focus Other Export Core Focus Other Export 19
Slide 21: Q2FY26 SKU Mix - Market Leader in Family Pack Segment
Q2FY26 SKU MIX- MARKET LEADER IN FAMILY PACK SEGMENT (INR Mn) Family Packs Impulse Packs 18.8% 3.3% 5,191 2,639 4,368 3,583 2,554 2,550 Q2FY25 Q1FY26 Q2FY26 Q2FY25 Q1FY26 Q2FY26 Q2FY25 Q2FY26 33.6% 36.8% 62.9% 66.1% Family packs Impulse packs Family packs Impulse packs 20
Slide 22: H1FY26 SKU Mix - Market Leader in Family Pack Segment
H1FY26 SKU MIX- MARKET LEADER IN FAMILY PACK SEGMENT (INR Mn) Family Packs Impulse Packs 17.6% 5.7% 8,774 5,189 7,463 4,910 H1FY25 H1FY26 H1FY25 H1FY26 H1FY25 H1FY26 37.1% 39.5% 60.1% 62.7% Family packs Impulse packs Family packs Impulse packs 21
Slide 23: Retail Business Performance
RETAIL BUSINESS PERFORMANCE (INR Mn) Revenue from Operations Store Count 279.5% 280 21 212 19 74 5 Q2FY25 Q1FY26 Q2FY26 Q2FY25 Q1FY26 Q2FY26 Revenue from Operations Store Count 284.5% 492 21 128 5 H1FY25 H1FY26 H1FY25 H1FY26 22
Slide 24: Key Quarterly Highlights/Commentary
KEY QUARTERLY HIGHLIGHTS/COMMENTARY Key Financial Performance (INR Mn) Particulars Q2 FY26 YoY (%) QoQ (%) Total Revenue from Operations 8,303 15.2% 27.2% EBITDA 1,282 20.1% 33.2% PAT 777 13.5% 32.7% Adjusted PAT* 808 18.1% 38.1% * Adjusted PAT excludes exceptional items. Delivered a strong value
Slide 25: Sensitivity in Key Material Categories
SENSITIVITY IN KEY MATERIAL CATEGORIES Edible Oil Pulses and Flours 1.00 0.93 0.84 1.12 1.12 1.09 1.06 0.78 0.76 0.77 0.82 0.85 1.08 1.06 1.10 1.07 1.07 1.09 1.08 1.00 1.00 1.00 0.94 0.93 Laminates Corrugated Boxes 1.00 0.93 0.89 0.86 0.83 1.00 1.00 0.93 0.92 0.89 0.95 0.89 0.82 0.84 0.89 0.89 0.87
Slide 26: Consolidated Financial Performance | P&L
CONSOLIDATED FINANCIAL PERFORMANCE | P&L (INR Mn) Quarter ended Quarter ended Quarter ended H1FY26 H1FY25 Particulars th 30 September, 2025 30th June, 2025 th 30 September, 2024 th 30 September, 2025 th 30 September, 2024 Revenue from Operations 8,303 6,527 7,206 14,830 12,922 Other Income 123 100 7
Slide 27: Consolidated Financial Performance | Balance Sheet
CONSOLIDATED FINANCIAL PERFORMANCE | Balance Sheet (INR Mn) H1FY26 Particulars 31st March 2025 30th September, 2025 Property, Plant and Equipments (Tangible, Intangible, CWIP, RoU) 11,186 10,843 Cash and Cash Equivalent (inclusive of Fixed deposit balances and interest accrued thereon) 4,013 3,237 I
Slide 28: Company Share Price Performance
COMPANY SHARE PRICE PERFORMANCE The stock generated a CAGR of 24% vs BSE Sensex which gave a CAGR of 10% over the last 2 year. Market Capitalization INR 18,647 crore (as of 30th Sep 2025) Market Capitalization INR 12,127 crore (as of 30th Sep 2023) Bikaji Foods BSE Sensex BSE FMCG 27
Slide 29: 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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