Bikaji Foods International Ltd, founded in 1986 by Shri Shivratan Agarwal, is a leading brand in India’s fast-moving consumer goods (FMCG) sector. Based in Bikaner, Rajasthan, the company has become synonymous with high-quality snack food products, specializing in manufacturing and selling a diverse range of items, including bhujia, namkeen, sweets, papad, pellets, chips, and other traditional and contemporary snacks. Bikaji is particularly renowned for its iconic “Bikaneri Bhujia,” a product that has established a strong reputation in Indian households and among Indian communities abroad.
The company has successfully expanded its footprint beyond domestic markets to a global stage, exporting its products to regions such as North America, Europe, the Asia Pacific, the Middle East, Africa, and the United Kingdom. Bikaji’s wide distribution network spans various channels, including modern retail outlets, brick-and-mortar stores, convenience stores, online platforms, and direct-to-consumer sales. To diversify its offerings further, Bikaji has also ventured into frozen foods, gift packs, maida-based products, mathris, and cookies, continually evolving to meet the changing preferences of its customers.
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | |
| Promoters + | 75.37% | 75.21% | 75.18% | 75.10% | 75.10% |
| FIIs + | 5.46% | 7.02% | 6.89% | 7.66% | 7.51% |
| DIIs + | 12.42% | 13.55% | 13.96% | 13.51% | 13.32% |
| Public + | 6.74% | 4.22% | 3.99% | 3.72% | 4.06% |
| No. of Shareholders | 75,172 | 85,411 | 86,930 | 85,927 | 92,097 |
Bikaji Foods International Ltd has seen notable changes in its shareholding pattern over the five quarters from June 2023 to June 2024, reflecting shifts in investor sentiment and market dynamics. The promoter group maintained a dominant position throughout, although their stake slightly decreased from 75.37% in June 2023 to 75.10% in March and June 2024, indicating a marginal reduction in holdings. Foreign Institutional Investors (FIIs) showed increased interest, with their holdings rising from 5.46% in June 2023 to a peak of 7.66% in March 2024, before slightly tapering to 7.51% by June 2024. This suggests a sustained but somewhat fluctuating interest from international investors.
Domestic Institutional Investors (DIIs) also increased their stakes during this period, moving from 12.42% in June 2023 to 13.96% in December 2023, before slightly declining to 13.32% by June 2024. The public shareholding experienced a notable decrease, from 6.74% in June 2023 to 3.72% in March 2024, though it rebounded slightly to 4.06% by June 2024. Additionally, the number of shareholders steadily increased from 75,172 in June 2023 to 92,097 by June 2024, reflecting growing interest in the company among individual investors. Overall, the data indicates that while institutional interest, both foreign and domestic, has remained strong, there has been a slight reduction in promoter holdings and public shareholding, amidst a growing base of shareholders.
Below are the trading platforms that you can use to purchase Bikaji Foods International shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| September 2024 | 880.15 | 765.35 |
| October 2024 | 871.44 | 757.77 |
| November 2024 | 906.30 | 788.08 |
| December 2024 | 915.36 | 795.97 |
In September 2024, Bikaji Foods International is anticipated to have its maximum price reach ₹880.15, while the minimum price is expected to be around ₹765.35. Moving into October 2024, the maximum price is likely to be ₹871.44, with a minimum of ₹757.77. By November 2024, Bikaji Foods International’s maximum price is projected to climb to ₹906.30, while the minimum may rise to ₹788.08. Finally, as we step into December 2024, the maximum price is expected to peak at ₹915.36, with the minimum price estimated at ₹795.97.
| When | Maximum Price | Minimum Price |
| January 2025 | 924.51 | 711.16 |
| February 2025 | 933.85 | 718.35 |
| March 2025 | 953.46 | 733.43 |
| April 2025 | 944.02 | 726.17 |
| May 2025 | 916.53 | 705.02 |
| June 2025 | 957.77 | 736.75 |
| July 2025 | 938.99 | 722.30 |
| August 2025 | 968.03 | 744.64 |
| September 2025 | 979.65 | 753.58 |
| October 2025 | 1,005.12 | 773.17 |
| November 2025 | 1,030.25 | 792.50 |
| December 2025 | 1,076.61 | 828.16 |
As we approach January 2025, Bikaji Foods International may see a maximum price of ₹924.51 and a minimum of ₹711.16. By March, prices are expected to peak at ₹953.46, with a low of ₹733.43. As we move through mid-year, June could witness prices ranging between ₹957.77 and ₹736.75, while September might fluctuate from ₹979.65 to ₹753.58. As we approach October 2025, prices may rise to a maximum of ₹1,005.12 and a minimum of ₹773.17, and by December 2025, the maximum could reach ₹1,076.61, with a minimum of ₹828.16.
| When | Maximum Price | Minimum Price |
| January 2026 | 1,108.91 | 853.01 |
| February 2026 | 1,081.18 | 831.68 |
| March 2026 | 1,102.81 | 848.31 |
| April 2026 | 1,125.31 | 865.63 |
| May 2026 | 1,114.17 | 857.06 |
| June 2026 | 1,142.03 | 878.48 |
| July 2026 | 1,119.63 | 861.26 |
| August 2026 | 1,154.26 | 887.89 |
| September 2026 | 1,177.35 | 905.65 |
| October 2026 | 1,207.96 | 929.20 |
| November 2026 | 1,238.16 | 952.43 |
| December 2026 | 1,269.11 | 976.24 |
| When | Maximum Price | Minimum Price |
| January 2027 | 1,281.80 | 986.00 |
| February 2027 | 1,314.67 | 1,011.28 |
| March 2027 | 1,365.94 | 1,050.72 |
| April 2027 | 1,339.16 | 1,030.12 |
| May 2027 | 1,300.15 | 1,000.12 |
| June 2027 | 1,358.66 | 1,045.12 |
| July 2027 | 1,332.02 | 1,024.63 |
| August 2027 | 1,373.22 | 1,056.32 |
| September 2027 | 1,421.28 | 1,093.29 |
| October 2027 | 1,458.23 | 1,121.72 |
| November 2027 | 1,494.69 | 1,149.76 |
| December 2027 | 1,532.05 | 1,178.50 |
| When | Maximum Price | Minimum Price |
| January 2028 | 1,562.70 | 1,202.07 |
| February 2028 | 1,602.76 | 1,232.90 |
| March 2028 | 1,665.27 | 1,280.98 |
| April 2028 | 1,632.62 | 1,255.86 |
| May 2028 | 1,585.07 | 1,219.28 |
| June 2028 | 1,656.40 | 1,274.15 |
| July 2028 | 1,623.92 | 1,249.17 |
| August 2028 | 1,674.14 | 1,287.80 |
| September 2028 | 1,732.74 | 1,332.87 |
| October 2028 | 1,777.79 | 1,367.53 |
| November 2028 | 1,822.23 | 1,401.72 |
| December 2028 | 1,867.79 | 1,436.76 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,905.14 | 1,465.50 |
| February 2029 | 1,953.99 | 1,503.07 |
| March 2029 | 2,030.20 | 1,561.69 |
| April 2029 | 1,990.39 | 1,531.07 |
| May 2029 | 1,932.42 | 1,486.48 |
| June 2029 | 2,019.38 | 1,553.37 |
| July 2029 | 1,979.78 | 1,522.91 |
| August 2029 | 2,041.01 | 1,570.01 |
| September 2029 | 2,112.45 | 1,624.96 |
| October 2029 | 2,167.37 | 1,667.21 |
| November 2029 | 2,221.56 | 1,708.89 |
| December 2029 | 2,277.10 | 1,751.61 |
| When | Maximum Price | Minimum Price |
| January 2030 | 2,322.64 | 1,786.64 |
| February 2030 | 2,382.19 | 1,832.46 |
| March 2030 | 2,475.10 | 1,903.92 |
| April 2030 | 2,426.57 | 1,866.59 |
| May 2030 | 2,355.89 | 1,812.22 |
| June 2030 | 2,461.91 | 1,893.77 |
| July 2030 | 2,413.63 | 1,856.64 |
| August 2030 | 2,488.28 | 1,914.06 |
| September 2030 | 2,575.37 | 1,981.05 |
| October 2030 | 2,642.33 | 2,032.56 |
| November 2030 | 2,708.39 | 2,083.38 |
| December 2030 | 2,776.10 | 2,135.46 |
As we step into January 2030, Bikaji Foods International is projected to have a maximum price of ₹2,322.64 and a minimum of ₹1,786.64. Moving forward to March, the prices could reach a high of ₹2,475.10 and a low of ₹1,903.92. As we step into the middle of the year, June might see a peak of ₹2,461.91 and a trough of ₹1,893.77, while September could observe a maximum of ₹2,575.37 and a minimum of ₹1,981.05. As we step into the final months, October 2030 may witness prices between ₹2,642.33 and ₹2,032.56, and by December 2030, the maximum could rise to ₹2,776.10, with a minimum of ₹2,135.46.
Financial Condition of Bikaji Foods International Ltd: Last 5 years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 1,075 | 1,308 | 1,599 | 1,944 | 2,295 | 2,379 |
| Expenses + | 980 | 1,163 | 1,456 | 1,732 | 1,900 | 1,959 |
| Operating Profit | 94 | 145 | 142 | 212 | 395 | 419 |
| OPM % | 9% | 11% | 9% | 11% | 17% | 18% |
| Other Income + | 8 | 11 | 10 | 22 | 26 | 30 |
| Interest | 6 | 3 | 7 | 9 | 9 | 9 |
| Depreciation | 34 | 33 | 37 | 45 | 56 | 61 |
| Profit before tax | 62 | 120 | 109 | 181 | 356 | 379 |
| Tax % | 11% | 25% | 27% | 23% | 24% | |
| Net Profit + | 55 | 90 | 80 | 138 | 270 | 287 |
| EPS in Rs | 22.82 | 36.91 | 3.2 | 5.55 | 10.77 | 11.47 |
| Dividend Payout % | 9% | 5% | 3% | 14% | 9% |
The financial performance of Bikaji Foods International Ltd from March 2020 to March 2024 shows a consistent upward trend, reflecting robust growth and improving profitability. The company’s sales have steadily increased from ₹1,075 crore in March 2020 to ₹2,295 crore in March 2024, with the trailing twelve months (TTM) sales reaching ₹2,379 crore. Concurrently, expenses have also risen from ₹980 crore in March 2020 to ₹1,900 crore in March 2024, and further to ₹1,959 crore in the TTM period, indicating increased operational costs in line with business expansion.
Operating profit has shown a strong growth trajectory, jumping from ₹94 crore in March 2020 to ₹395 crore in March 2024, with an impressive TTM figure of ₹419 crore. The Operating Profit Margin (OPM) improved significantly from 9% in March 2020 to 17% in March 2024, and further to 18% in the TTM period, underscoring enhanced operational efficiency. Other income has also shown a steady increase, reaching ₹30 crore in the TTM period. Interest expenses have remained relatively stable at ₹9 crore over recent years, while depreciation costs rose from ₹34 crore in March 2020 to ₹61 crore in the TTM period.
The profit before tax (PBT) surged from ₹62 crore in March 2020 to ₹356 crore in March 2024, reaching ₹379 crore in the TTM period. The tax rate has fluctuated between 11% and 27%, stabilizing at around 24% in recent years. Net profit more than doubled from ₹55 crore in March 2020 to ₹270 crore in March 2024, with the TTM net profit at ₹287 crore. Earnings per share (EPS) also saw significant growth, rising from ₹22.82 in March 2020 to ₹10.77 in March 2024, with a TTM EPS of ₹11.47. The dividend payout ratio has varied, peaking at 14% in March 2023, reflecting the company’s strategic approach to balancing reinvestment and shareholder returns. Overall, Bikaji Foods International Ltd exhibits a strong financial footing, driven by consistent revenue growth, improving margins, and prudent financial management.
FAQS
The projected share price of Bikaji Foods International for 2025 is expected to fluctuate within a range, with a maximum price of ₹1,076.61 and a minimum price of ₹705.02, according to our forecast.
As per our analysis, Bikaji Foods International share price may not reach ₹2,000 by 2025, however, Bikaji Foods International may reach ₹2,000 somewhere in 2029.
Various factors such as market conditions, economic trends, company performance, and global events can affect the share price of Indian Hotels.
For 2030, Bikaji Foods International is expected to reach a maximum of ₹2,776.10.
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Conclusion
In conclusion, Bikaji Foods International Ltd has demonstrated robust growth and resilience in India’s FMCG sector, expanding its market reach both domestically and globally through a strong distribution network and diverse product offerings. The shareholding pattern shows increased institutional interest with FIIs and DIIs raising their stakes, while promoter holdings have slightly decreased over the past five quarters, reflecting a dynamic market sentiment. Financially, the company has achieved consistent growth, with revenue reaching ₹2,295 crore and an operating profit margin of 17% in March 2024. Share prices are projected to continue their upward trend, potentially reaching ₹2,776.10 by December 2030, indicating strong investor confidence and growth potential. Overall, Bikaji Foods is well-positioned for future success with a solid financial foundation, market presence, and diversified portfolio.
What did we learn?
- 1 Shareholding Patterns of Bikaji Foods International Ltd
- 2 How to Purchase Bikaji Foods International Shares?
- 3 Bikaji Foods International Ltd Share Price Prediction: 2024 to 2030
- 3.1 Bikaji Foods International Share Price Target 2024
- 3.2 Bikaji Foods International Share Price Target 2025
- 3.3 Bikaji Foods International Share Price Target 2026
- 3.4 Bikaji Foods International Share Price Target 2027
- 3.5 Bikaji Foods International Share Price Prediction 2028
- 3.6 Bikaji Foods International Share Price Target 2029
- 3.7 Bikaji Foods International Share Price Target 2030
- 4 Financial Condition of Bikaji Foods International Ltd: Last 5 years
- 5 FAQS
- 6 Conclusion
