Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated on: 21 June, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 543653 | NSE: BIKAJI

Fundamental Analysis of Bikaji Foods International Ltd

Basic Stock Data

Last Updated: June 17, 2024, 8:44 pm

Market Cap 18,166 Cr.
Current Price 726
High / Low739/403
Stock P/E67.4
Book Value 49.0
Dividend Yield0.14 %
ROCE29.6 %
ROE24.7 %
Face Value 1.00
PEG Ratio-3.44

Competitors of Bikaji Foods International Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Bambino Agro Industries Ltd 291 Cr. 364470/29026.6 1160.44 %13.1 %12.4 % 10.0
Chothani Foods Ltd 30.5 Cr. 30.038.0/13.8218 15.10.00 %5.33 %2.06 % 10.0
SKM Egg Products Export (India) Ltd 651 Cr. 247560/2027.63 1051.01 %35.2 %36.2 % 10.0
Anjani Foods Ltd 135 Cr. 48.452.4/21.794.5 5.240.00 %12.1 %10.3 % 2.00
Parag Milk Foods Ltd 2,172 Cr. 182290/11124.0 76.40.00 %11.0 %10.6 % 10.0
Industry Average24,189.63 Cr1,362.1061.81144.730.22%23.46%21.98%6.44

Bikaji Foods International Ltd Quarterly Results

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales433437397414570503458477598613
Expenses387413357382505452400413509537
Operating Profit46244031655158648976
OPM %11%5%10%8%11%10%13%13%15%12%
Other Income32856125966
Interest1122222222
Depreciation991010101210111515
Profit before tax39163524584951607865
Tax %23%32%26%25%26%23%28%25%22%24%
Net Profit30112618433837456149
EPS in Rs12.170.431.060.711.741.511.471.792.451.96

Quarterly Chart

Bikaji Foods International Ltd Profit & Loss

MonthMar 2006Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales614004685506107819011,0751,3081,5991,9442,036
Expenses573574194875366818089801,1631,4561,7351,778
Operating Profit4434963731009394145142209258
OPM %6%11%10%11%12%13%10%9%11%9%11%13%
Other Income-12123310811101525
Interest12-4005463798
Depreciation14671217223433374246
Profit before tax139485864827662120109173229
Tax %19%36%33%29%32%36%33%11%25%27%26%
Net Profit1253241445351559080128172
EPS in Rs4.2012.1613.7517.6818.7622.6320.9822.8236.913.205.126.90
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%

Growth

Compounded Sales Growth
10 Years:19%
5 Years:21%
3 Years:21%
TTM:18%
Compounded Profit Growth
10 Years:27%
5 Years:40%
3 Years:44%
TTM:112%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:55%
Return on Equity
10 Years:17%
5 Years:17%
3 Years:18%
Last Year:25%

Last Updated: May 31, 2024, 5:42 am

Bikaji Foods International Ltd Balance Sheet

MonthMar 2006Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital22023232323242424252525
Reserves17611722082452844465045807989301,026
Borrowings12467297136142735483141138180
Other Liabilities1054625555738793115118136166
Total Liabilities401823293844605236306758031,0811,2291,398
Fixed Assets2895100176229313396406406480499520
CWIP01284838647133334864102
Investments101022333687146154163
Other Assets1175135124143160218230277407512613
Total Assets401823293844605236306758031,0811,2291,398

Reserves and Borrowings Chart

Bikaji Foods International Ltd Cash Flow

MonthMar 2006Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 2754343778645112160173
Cash from Investing Activity -27-95-74-69-63-67-54-129-220-127
Cash from Financing Activity 1874132-1058-262157-2
Net Cash Flow1472-0555-29-6-444

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 Days61312151716161413171718
Inventory Days422129212526262226262117
Days Payable34433928211820818151512
Cash Conversion Cycle14-9272124222721282423
Working Capital Days68-189237151517383835
ROCE %22%20%18%21%16%12%19%14%18%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters75.97%75.97%75.37%75.21%75.18%75.10%
FIIs3.71%3.45%5.46%7.02%6.89%7.66%
DIIs9.90%10.57%12.42%13.55%13.96%13.51%
Public10.42%10.03%6.74%4.22%3.99%3.72%
No. of Shareholders92,56183,14275,17285,41186,93085,927

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 Fund11,815,1223.59616.57940,6952024-06-161156%
Canara Robeco Small Cap Fund2,380,3081.29124.22940,6952024-06-16153.04%
Aditya Birla Sun Life Small Cap Fund1,159,7131.1260.52940,6952024-06-1623.28%
Tata India Consumer Fund968,7742.7250.56940,6952024-06-162.98%
Edelweiss Mid Cap Fund940,6950.9749.09940,6952024-06-160%
Edelweiss Small Cap Fund879,3681.4645.89940,6952024-06-16-6.52%
Canara Robeco Multi Cap Fund695,0001.7236.27940,6952024-06-16-26.12%
Aditya Birla Sun Life India GenNext Fund673,4350.7535.14940,6952024-06-16-28.41%
HSBC ELSS Tax saver Fund598,3000.8531.22940,6952024-06-16-36.4%
Edelweiss Recently Listed IPO Fund550,0003.0428.7940,6952024-06-16-41.53%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue1.001.0010.0010.0010.00
Basic EPS (Rs.)5.153.1537.1023.1821.09
Diluted EPS (Rs.)5.143.1537.1023.1821.09
Cash EPS (Rs.)6.964.5850.7837.2530.16
Book Value[Excl.RevalReserv]/Share (Rs.)38.1732.89249.86217.64193.25
Book Value[Incl.RevalReserv]/Share (Rs.)38.1732.89249.86217.64193.25
Revenue From Operations / Share (Rs.)78.8064.56539.11441.46370.62
PBDIT / Share (Rs.)9.156.0164.2542.3441.99
PBIT / Share (Rs.)7.264.4850.6328.2832.81
PBT / Share (Rs.)6.844.2149.4026.1831.25
Net Profit / Share (Rs.)5.073.0537.1523.1820.98
NP After MI And SOA / Share (Rs.)5.153.1237.1023.1820.98
PBDIT Margin (%)11.619.3111.919.5911.32
PBIT Margin (%)9.216.939.396.408.85
PBT Margin (%)8.676.519.165.928.43
Net Profit Margin (%)6.434.716.895.255.66
NP After MI And SOA Margin (%)6.534.836.885.255.66
Return on Networth / Equity (%)13.479.4914.8910.6510.85
Return on Capital Employeed (%)17.2712.2418.7911.7614.63
Return On Assets (%)10.107.0711.038.338.09
Long Term Debt / Equity (X)0.040.050.020.030.07
Total Debt / Equity (X)0.150.170.130.070.13
Asset Turnover Ratio (%)1.671.681.771.650.00
Current Ratio (X)1.881.801.452.272.33
Quick Ratio (X)1.531.421.101.871.88
Inventory Turnover Ratio (X)17.5817.7719.5919.270.00
Dividend Payout Ratio (NP) (%)1.946.415.398.629.53
Dividend Payout Ratio (CP) (%)1.424.293.945.366.63
Earning Retention Ratio (%)98.0693.5994.6191.3890.47
Cash Earning Retention Ratio (%)98.5895.7196.0694.6493.37
Interest Coverage Ratio (X)21.5422.4252.1620.1326.87
Interest Coverage Ratio (Post Tax) (X)12.9512.3631.1612.0214.42
Enterprise Value (Cr.)9081.030.000.000.000.00
EV / Net Operating Revenue (X)4.620.000.000.000.00
EV / EBITDA (X)39.780.000.000.000.00
MarketCap / Net Operating Revenue (X)4.600.000.000.000.00
Retention Ratios (%)98.0593.5894.6091.3790.46
Price / BV (X)9.470.000.000.000.00
Price / Net Operating Revenue (X)4.600.000.000.000.00
EarningsYield0.010.000.000.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 816.88

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.

Undervalued: 12.52% compared to the current price 726

Intrinsic Value: 656.84

Calculation basis:

  • Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Overvalued: 9.53% compared to the current price ₹726

Last 5 Year EPS CAGR: -19.59%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of 16.08, which is a positive sign.
  2. The company has higher reserves (439.25 cr) compared to borrowings (97.83 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (314.75 cr) and profit (90.50 cr) over the years.
  1. The stock has a low average ROCE of 13.33%, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 17.00, 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: 6.43%
      • 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: 17.27% (Industry Average ROCE: 47.21%)
      • 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%: 13.47% (Industry Average ROE: 41.45%)
      • 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): 12.95
      • 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: 1.53
      • 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: 67.4 (Industry average Stock P/E: 100.8)
      • 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: 0.15
      • 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 Executive Director
Mr. Siraj Azmat ChaudhryIndependent Director
Ms. Richa Manoj GoyalIndependent Director
Mr. Pulkit Anilkumar BachhawatIndependent Director
Mr. Nikhil Kishorchandra VoraIndependent Director
Mr. Vipul PrakashIndependent Director

FAQ

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

The latest fair value of Bikaji Foods International Ltd is ₹816.88.

What is the Market Cap of Bikaji Foods International Ltd?

The Market Cap of Bikaji Foods International Ltd is 18,166 Cr..

What is the current Stock Price of Bikaji Foods International Ltd as on 21 June 2024?

The current stock price of Bikaji Foods International Ltd as on 21 June 2024 is ₹726.

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 739/403.

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

The Stock P/E of Bikaji Foods International Ltd is 67.4.

What is the Book Value of Bikaji Foods International Ltd?

The Book Value of Bikaji Foods International Ltd is 49.0.

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