EBITDA stood at Rs 65.8 crore in Q1 FY24, registering the growth of 113.6% as compared with Rs 30.8 crore posted in corresponding quarter last year. EBITDA margin was at 13.6% in Q1 FY24 as against 7.3% in Q1 FY23, led by operating efficiency and superior mix combined with impact of softening of input material prices

The company's revenue from Ethnic Snacks stood at Rs 358.8 crore (up 16.1% YoY); constitutes approximately 75% of overall revenue, Packaged Sweets was at Rs 34.8 crore (up 10.5% YoY); constitutes around 7% of overall revenue, Western Snacks stood at Rs 43 crore (up 19.3% YoY); constitutes almost 9% of overall revenue and revenue from Papad stood at Rs 29 crore (up 1.1% YoY); constitutes 6% of overall revenue.

Deepak Agarwal, managing director, Bikaji Foods International, said, “We have started fiscal year FY24 with strong double-digit value (up 15% YoY) & volume growth (up 15.2% YoY) in Q1, the performance was broad based across business segments and markets. We have delivered a resilient EBITDA margin in Q1 led by superior mix, operating leverage and effective cost management. We remain committed on strengthening our distribution network to achieve a deeper distribution across our core & focus markets and on track to expand our direct reach to 2.4 lakhs retail stores by FY24.”

Bikaji Foods International is the third largest ethnic snacks company in India with an international footprint, selling Indian snacks and sweets, and is among the fastest growing companies in the Indian organised snacks market.

The scrip shed 0.23% to Rs 483 on the BSE. The counter hit 52 week high at Rs 508.75 in intraday today.