Shares of Bikaji Foods International Limited surged 4.12 per cent to close at ₹492.40 on the NSE on Thursday. The Bikaner-based snack maker reported a 13 per cent year-on-year rise in revenue from operations to ₹938.5 crore for the quarter ended September 30, 2026, even as profitability remained under pressure from rising input costs and higher marketing expenditure.
The stock touched an intraday high of ₹509.90 before paring gains, with traded volume of 10.56 lakh shares worth ₹52.66 crore. The market capitalisation stood at ₹12,346.26 crore. Despite Thursday’s move, the stock remains down over 33 per cent year-to-date and trades well below its 52-week high of ₹768.50 hit in December 2025.
EBITDA for Q2 FY27 fell 7.4 per cent year-on-year to ₹118.7 crore, with the EBITDA margin contracting 280 basis points to 12.6 per cent. The company attributed the margin compression primarily to increased marketing spends and rising fuel costs. Profit after tax declined 11.2 per cent to ₹69 crore, with PAT margin at 7.3 per cent against 9.4 per cent in the same quarter last year.
Gross margin stood at 34.4 per cent, a 60 bps contraction year-on-year, reflecting inflationary pressure across key commodities including edible oil, which rose to an indexed level of 1.73 in Q2 FY27 from 1.00 in Q3 FY23.
Ethnic Snacks, the company’s largest segment, outperformed with 19.7 per cent revenue growth to ₹575.1 crore, now accounting for 62.7 per cent of the product mix. Western Snacks posted strong growth of 44.2 per cent to ₹81.5 crore. Packaged Sweets, however, declined 11.3 per cent to ₹141.9 crore.
On the distribution front, direct outlet coverage expanded to 3,90,087 as of September 2026, up from 2,78,150 in September 2024. The retail business grew 58.1 per cent year-on-year in revenue, with store count rising to 34 from 21 a year ago.
For the first half of FY27, consolidated revenue grew 12.8 per cent to ₹1,672.8 crore, with EBITDA of ₹217.7 crore and PAT of ₹128.4 crore.
Published on November 5, 2026
