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Last Updated on: 21 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 543653 | NSE: BIKAJI

Bikaji Foods International Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 20, 2024, 11:26 pm

Market Cap 18,512 Cr.
Current Price 739
High / Low1,008/476
Stock P/E62.2
Book Value 53.4
Dividend Yield0.14 %
ROCE29.6 %
ROE24.7 %
Face Value 1.00
PEG Ratio-3.17

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bikaji Foods International Ltd

Competitors of Bikaji Foods International Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
ICL Organic Dairy Products Ltd 23.8 Cr. 39.741.8/39.71,192 20.10.00 %0.25 %0.17 % 10.0
Himalaya Food International Ltd 117 Cr. 20.229.9/18.018.7 24.40.00 %3.63 %3.61 % 10.0
Goldcoin Health Foods Ltd 3.37 Cr. 11.213.6/5.80 3.430.00 %18.4 %24.2 % 10.0
Galaxy Cloud Kitchens Ltd 274 Cr. 61.167.5/12.2 4.780.00 %%% 10.0
Foods & Inns Ltd 832 Cr. 114179/11030.6 70.20.26 %16.1 %12.3 % 1.00
Industry Average18,239.43 Cr913.58200.45130.350.20%18.91%18.90%6.26

All Competitor Stocks of Bikaji Foods International Ltd

Quarterly Result

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales433437397414570503458478598613606561
Expenses387413357382505452400412509537445468
Operating Profit4624403165515866897616193
OPM %11%5%10%8%11%10%13%14%15%12%27%17%
Other Income32856125666117
Interest112222222222
Depreciation9910101012101315151517
Profit before tax3916352458495158786515581
Tax %23%32%26%25%26%23%28%25%22%24%25%26%
Net Profit3011261843383743614911661
EPS in Rs12.170.431.060.711.741.511.471.732.451.964.642.42

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2006Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales614004685506107819011,0751,3081,5991,9442,147
Expenses573574194875366818089801,1631,4561,7351,859
Operating Profit4434963731009394145142209288
OPM %6%11%10%11%12%13%10%9%11%9%11%13%
Other Income-12123310811101526
Interest12-4005463798
Depreciation14671217223433374251
Profit before tax139485864827662120109173254
Tax %19%36%33%29%32%36%33%11%25%27%26%
Net Profit1253241445351559080128192
EPS in Rs4.2012.1613.7517.6818.7622.6320.9822.8236.913.205.127.67
Dividend Payout %0%0%15%11%11%9%10%9%5%3%15%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)28.00%28.12%7.32%20.45%-3.77%7.84%63.64%-11.11%60.00%
Change in YoY Net Profit Growth (%)0.00%0.12%-20.81%13.14%-24.23%11.62%55.79%-74.75%71.11%

Bikaji Foods International Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2014-2015 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:19%
5 Years:21%
3 Years:21%
TTM:22%
Compounded Profit Growth
10 Years:27%
5 Years:40%
3 Years:44%
TTM:66%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:37%
Return on Equity
10 Years:17%
5 Years:17%
3 Years:18%
Last Year:25%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 1:48 am

MonthMar 2006Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital2202323232324242425252525
Reserves17611722082452844465045807989341,2001,312
Borrowings12467297136142735483141138139180
Other Liabilities1054625555738793115118143138215
Total Liabilities401823293844605236306758031,0811,2401,5031,732
Fixed Assets2895100176229313396406406480607753746
CWIP012848386471333348701238
Investments1010223336871464160114
Other Assets1175135124143160218230277407523677834
Total Assets401823293844605236306758031,0811,2401,5031,732

Reserves and Borrowings Chart

Cash Flow

MonthMar 2006Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +2754343778645112160177243
Cash from Investing Activity +-27-95-74-69-63-67-54-129-220-131-207
Cash from Financing Activity +1874132-1058-262157-2-45
Net Cash Flow1472-0555-29-6-443-10

Free Cash Flow

MonthMar 2006Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow-8.00-3.00-23.00-34.00-63.00-42.0020.0040.0062.001.0071.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2006Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days61312151716161413171618
Inventory Days422129212526262226262018
Days Payable34433928211820818151412
Cash Conversion Cycle14-9272124222721282223
Working Capital Days68-189237151517383835
ROCE %22%20%18%21%16%12%19%14%18%30%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters75.97%75.97%75.37%75.21%75.18%75.10%75.10%74.98%
FIIs3.71%3.45%5.46%7.02%6.89%7.66%7.51%7.48%
DIIs9.90%10.57%12.42%13.55%13.96%13.51%13.32%12.78%
Public10.42%10.03%6.74%4.22%3.99%3.72%4.06%4.76%
No. of Shareholders92,56183,14275,17285,41186,93085,92792,0971,09,780

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Quant Small Cap Fund11,815,1223.59616.57879,3682024-11-201243.59%
Canara Robeco Small Cap Fund2,380,3081.29124.22879,3682024-11-20170.68%
Aditya Birla Sun Life Small Cap Fund1,159,7131.1260.52879,3682024-11-2031.88%
Tata India Consumer Fund968,7742.7250.56879,3682024-11-2010.17%
Edelweiss Mid Cap Fund940,6950.9749.09879,3682024-11-206.97%
Edelweiss Small Cap Fund879,3681.4645.89879,3682024-11-200%
Canara Robeco Multi Cap Fund695,0001.7236.27879,3682024-11-20-20.97%
Aditya Birla Sun Life India GenNext Fund673,4350.7535.14879,3682024-11-20-23.42%
HSBC ELSS Tax saver Fund598,3000.8531.22879,3682024-11-20-31.96%
Edelweiss Recently Listed IPO Fund550,0003.0428.7879,3682024-11-20-37.46%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.0010.0010.00
Basic EPS (Rs.)10.635.153.1537.1023.18
Diluted EPS (Rs.)10.635.143.1537.1023.18
Cash EPS (Rs.)12.926.964.5850.7837.25
Book Value[Excl.RevalReserv]/Share (Rs.)48.5738.1732.89249.86217.64
Book Value[Incl.RevalReserv]/Share (Rs.)48.5738.1732.89249.86217.64
Revenue From Operations / Share (Rs.)93.0378.8064.56539.11441.46
PBDIT / Share (Rs.)16.729.156.0164.2542.34
PBIT / Share (Rs.)14.327.264.4850.6328.28
PBT / Share (Rs.)13.906.844.2149.4026.18
Net Profit / Share (Rs.)10.525.073.0537.1523.18
NP After MI And SOA / Share (Rs.)10.615.153.1237.1023.18
PBDIT Margin (%)17.9711.619.3111.919.59
PBIT Margin (%)15.399.216.939.396.40
PBT Margin (%)14.938.676.519.165.92
Net Profit Margin (%)11.316.434.716.895.25
NP After MI And SOA Margin (%)11.406.534.836.885.25
Return on Networth / Equity (%)21.8013.479.4914.8910.65
Return on Capital Employeed (%)27.2417.2712.2418.7911.76
Return On Assets (%)17.3210.107.0711.038.33
Long Term Debt / Equity (X)0.010.040.050.020.03
Total Debt / Equity (X)0.090.150.170.130.07
Asset Turnover Ratio (%)1.661.671.681.771.65
Current Ratio (X)2.281.881.801.452.27
Quick Ratio (X)1.901.531.421.101.87
Inventory Turnover Ratio (X)17.9917.5817.7719.5919.27
Dividend Payout Ratio (NP) (%)0.001.946.415.398.62
Dividend Payout Ratio (CP) (%)0.001.424.293.945.36
Earning Retention Ratio (%)0.0098.0693.5994.6191.38
Cash Earning Retention Ratio (%)0.0098.5895.7196.0694.64
Interest Coverage Ratio (X)39.3721.5422.4252.1620.13
Interest Coverage Ratio (Post Tax) (X)25.7812.9512.3631.1612.02
Enterprise Value (Cr.)12215.329081.030.000.000.00
EV / Net Operating Revenue (X)5.244.620.000.000.00
EV / EBITDA (X)29.1839.780.000.000.00
MarketCap / Net Operating Revenue (X)5.274.600.000.000.00
Retention Ratios (%)0.0098.0593.5894.6091.37
Price / BV (X)10.089.470.000.000.00
Price / Net Operating Revenue (X)5.274.600.000.000.00
EarningsYield0.020.010.000.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Bikaji Foods International Ltd as of November 21, 2024 is: 821.55

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 21, 2024, Bikaji Foods International Ltd is Undervalued by 11.17% compared to the current share price 739.00

Intrinsic Value of Bikaji Foods International Ltd as of November 21, 2024 is: 660.59

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 21, 2024, Bikaji Foods International Ltd is Overvalued by 10.61% compared to the current share price 739.00

Last 5 Year EPS CAGR: -19.59%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 15.83%, which is a positive sign.
  2. The stock has a low average Working Capital Days of 16.08, which is a positive sign.
  3. The company has higher reserves (520.08 cr) compared to borrowings (101.00 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (314.75 cr) and profit (90.50 cr) over the years.
  1. The stock has a high average Cash Conversion Cycle of 16.83, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Bikaji Foods International Ltd:
    1. Net Profit Margin: 11.31%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 27.24% (Industry Average ROCE: 18.91%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 21.8% (Industry Average ROE: 18.9%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 25.78
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.9
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 62.2 (Industry average Stock P/E: 200.45)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.09
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Bikaji Foods International Ltd. is a Public Limited Listed company incorporated on 06/10/1995 and has its registered office in the State of Rajasthan, India. Company’s Corporate Identification Number(CIN) is L15499RJ1995PLC010856 and registration number is 010856. Currently company belongs to the Industry of Food Processing - Bakery/Dairy/Fruits/Others. Company’s Total Operating Revenue is Rs. 1598.70 Cr. and Equity Capital is Rs. 24.95 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Food Processing - Bakery/Dairy/Fruits/OthersF 196-199, F 178 & E 188, Bikaner Rajasthan 334006cs@bikaji.com
http://www.bikaji.com
Management
NamePosition Held
Mr. Shiv Ratan AgarwalChairman & Wholetime Director
Mr. Deepak AgarwalManaging Director
Mrs. Shweta AgarwalWhole Time Director
Mr. Sachin Kumar BhartiyaNon Exe.Non Ind.Director
Mr. Siraj Azmat ChaudhryInd. Non-Executive Director
Mrs. Richa Manoj GoyalInd. Non-Executive Director
Mr. Pulkit Anilkumar BachhawatInd. Non-Executive Director
Mr. Nikhil Kishorchandra VoraInd. Non-Executive Director
Mr. Sunil SethiInd. Non-Executive Director

FAQ

What is the latest intrinsic value of Bikaji Foods International Ltd?

The latest intrinsic value of Bikaji Foods International Ltd as on 20 November 2024 is ₹821.55, which is 11.17% higher than the current market price of ₹739.00.

What is the Market Cap of Bikaji Foods International Ltd?

The Market Cap of Bikaji Foods International Ltd is 18,512 Cr..

What is the current Stock Price of Bikaji Foods International Ltd as on 20 November 2024?

The current stock price of Bikaji Foods International Ltd as on 20 November 2024 is ₹739.

What is the High / Low of Bikaji Foods International Ltd stocks in FY 2024?

In FY 2024, the High / Low of Bikaji Foods International Ltd stocks is 1,008/476.

What is the Stock P/E of Bikaji Foods International Ltd?

The Stock P/E of Bikaji Foods International Ltd is 62.2.

What is the Book Value of Bikaji Foods International Ltd?

The Book Value of Bikaji Foods International Ltd is 53.4.

What is the Dividend Yield of Bikaji Foods International Ltd?

The Dividend Yield of Bikaji Foods International Ltd is 0.14 %.

What is the ROCE of Bikaji Foods International Ltd?

The ROCE of Bikaji Foods International Ltd is 29.6 %.

What is the ROE of Bikaji Foods International Ltd?

The ROE of Bikaji Foods International Ltd is 24.7 %.

What is the Face Value of Bikaji Foods International Ltd?

The Face Value of Bikaji Foods International Ltd is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bikaji Foods International Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE