Bikaji Foods aims for 18% volume growth in FY24
Manoj Verma, Chief Operating Officer (COO) and Rishabh Jain, the Chief Financial Officer of Bikaji Foods International talked about the volume growth and margin expectations and the potential areas of expansion that the company is eyeing
Packaged foods maker Bikaji Foods International is aiming for 18% volume growth in the current financial year. In the first half of the year, the volume growth was around 10.5%.
Manoj Verma, Chief Operating Officer (COO), and Rishabh Jain, the Chief Financial Officer (CFO) of the company outlined the growth plans for the coming year in a discussion with CNBC-TV18.
Jain said the margins for the year are expected to be around 13-14%.
Verma talked about the solid contribution of the gifting segment, particularly in the second and third quarters.
He also pointed out that the company plans to now gradually improve its contribution from both the western snacks, and sweets segments.
The company is working to identify capacity challenges in the sweets segment during the peak festive periods and hopes to be to able to increase the growth rates in the segment to double-digits soon.
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Bikaji, originating from Bikaner, Rajasthan, is renowned for its specialisation in namkeen, snacks, and sweets.
In July, Bikaji acquired 49% stake and 396 Compulsorily Convertible Debentures (CCDs) in Bhujialalji, an upcoming company in the ethnic snacks industry, with an annual turnover of ₹18.08 crore and a net worth of ₹3.03 crore as on March 31, 2023.
The company currently has a market capitalisation of ₹13,955.45 crore,
For more details, watch the accompanying video
(Edited by : Shweta Mungre)
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