Bikaji Foods International Ltd. (BIKAJI) AI Stock Analysis

• Market Cap: ₹183.25B
• Dividend Yield: 0.14%
• Average Volume (3M): 28.96K
• Price to Earnings (P/E): 90.6
• Beta (1Y): 0.92
• Revenue Growth: 11.69%
• EPS Growth: -28.54%
• Country: IN
• Employees: 2,559
• Sector: Consumer Goods
• Sector Strength: N/A
• Industry: Packaged Foods
• EPS (TTM): 2.35
• Shares Outstanding: 250,592,710
• 10 Day Avg. Volume: 16,305
• 30 Day Avg. Volume: 28,963
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹776.00
• Price Target Upside: 6.12% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 58 Neutral
• Price Target: ₹776.00 ▲(6.12% Upside)

Bikaji Foods' overall stock score is primarily influenced by its strong financial growth and stability, despite challenges with profitability margins and cash flow consistency. The technical analysis indicates bearish momentum, and the high P/E ratio suggests potential overvaluation, which are significant factors affecting the score.

Bikaji Foods International Ltd. Business Overview & Revenue Model

Company Description

Bikaji Foods International Limited produces and sells food products in India. It offers bhujia, namkeen, sweets, papads, chips, and other snacks as well as oven-fresh products under the Bikaji brand name. The company sells its products through distributors, as well as online. It exports its products to North America, Europe, the Asia Pacific, the Middle East, Africa, and the United Kingdom regions. The company was formerly known as Shivdeep Industries Ltd. Bikaji Foods International Limit was founded in 1986 and is based in Bikaner, India.

How the Company Makes Money

Bikaji Foods International Ltd. primarily generates revenue through the sale of its diverse product offerings in the snack food and confectionery sectors. The company earns money by distributing its products through a wide network of retailers, supermarkets, and online platforms, ensuring a broad market reach. Key revenue streams include domestic sales across India and exports to international markets, where there is demand for authentic Indian snacks and sweets. Bikaji's growth is supported by strategic marketing, brand loyalty, and partnerships with distribution channels, enhancing its market presence and revenue generation.

Bikaji Foods International Ltd. Financial Statement Overview

Summary

Bikaji Foods demonstrates strong revenue growth and a stable financial position with a healthy equity base. However, the company faces challenges with net profit margin volatility and inconsistent free cash flow growth, which require attention for sustainable financial performance.

Income Statement

Bikaji Foods has demonstrated strong revenue growth, increasing from INR 10,721.8 million in 2020 to INR 26,218.5 million in 2025. The gross profit margin improved significantly, indicating efficient cost management. However, the net profit margin showed some volatility, declining in the latest period due to increased costs impacting net income. Overall, the company is on a positive growth trajectory with robust revenue increases, but needs to manage expenses better to stabilize net profitability.

Balance Sheet

The company's balance sheet displays a stable financial position with a healthy equity base, as the equity ratio improved over the years. The debt-to-equity ratio remains low, suggesting conservative leverage practices. However, the return on equity has shown some fluctuations, hinting at varying profitability levels. Overall, the balance sheet reflects financial stability with a strong equity position, but earnings consistency should be improved.

Cash Flow

Bikaji Foods has shown a mixed performance in cash flow metrics. Operating cash flow has been positive, supporting operational activities. However, free cash flow growth has been inconsistent due to fluctuating capital expenditures. The operating cash flow to net income ratio indicates efficient cash conversion, but more consistent free cash flow generation is needed for long-term sustainability.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	26.04B	26.22B	22.34B	19.63B	16.08B	13.08B
Gross Profit	7.20B	8.47B	4.46B	3.23B	2.34B	3.59B
EBITDA	3.47B	3.28B	4.19B	2.34B	1.50B	1.55B
Net Income	2.01B	2.01B	2.66B	1.37B	779.51M	902.07M
Balance Sheet
Total Assets	19.37B	19.37B	15.34B	12.72B	11.02B	8.17B
Cash, Cash Equivalents and Short-Term Investments	2.55B	2.55B	1.36B	1.45B	1.26B	937.08M
Total Debt	2.31B	2.31B	1.66B	1.70B	1.60B	874.34M
Total Liabilities	4.56B	4.56B	3.17B	3.18B	2.81B	2.10B
Stockholders Equity	13.83B	13.83B	12.18B	9.56B	8.21B	6.06B
Cash Flow
Free Cash Flow	0.00	706.92M	1.16B	799.85M	-515.74M	427.62M
Operating Cash Flow	0.00	1.93B	2.45B	1.71B	574.74M	1.17B
Investing Cash Flow	0.00	-1.31B	-1.99B	-1.23B	-2.32B	-1.14B
Financing Cash Flow	0.00	-557.23M	-539.22M	-48.55M	1.69B	-90.64M

Bikaji Foods International Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 731.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BIKAJI, the sentiment is Negative. The current price of 731.25 is below the 20-day moving average (MA) of 778.45, below the 50-day MA of 766.02, and above the 200-day MA of 724.18, indicating a neutral trend. The MACD of -4.24 indicates Positive momentum. The RSI at 34.76 is Neutral, neither overbought nor oversold. The STOCH value of 6.04 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BIKAJI.

Bikaji Foods International Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ZYDUSWELL	73 Outperform	₹153.21B	46.84	6.12%	0.25%	10.63%	7.53%
HNDFDS	68 Neutral	₹62.98B	54.06	12.30%	―	22.89%	14.30%
LTFOODS	65 Neutral	₹144.28B	23.25	15.71%	0.72%	12.52%	1.90%
HERITGFOOD	63 Neutral	₹44.95B	26.38	19.37%	0.52%	8.60%	14.95%
BECTORFOOD	60 Neutral	₹78.60B	56.11	12.29%	0.47%	12.92%	-4.82%
BIKAJI	58 Neutral	₹183.25B	90.60	―	0.14%	11.69%	-28.54%
Sector *	57 Neutral	$3.13B	9.23	-34.32%	3.14%	-25.56%	-353.61%

Bikaji Foods International Ltd. Corporate Events

Bikaji Foods Engages with Investors in Singapore

Bikaji Foods International Ltd. announced that it successfully conducted meetings with group analysts and institutional investors in Singapore. The meetings, which were held in compliance with regulatory requirements, did not disclose any unpublished price-sensitive information. This engagement reflects the company’s commitment to transparency and investor relations, potentially strengthening its market position and stakeholder trust.