Industry Revenues:

• Snacks and Confectionery: 70%
• Ready Meals: 20%
• Other Food Products: 10%

TOP 3 Markets:

• India: 65%
• Middle East: 20%
• North America: 10%

Bikaji Foods International Limited generates the majority of its revenues from the snacks and confectionery industry, accounting for approximately 70% of total revenue. This reflects its strong market presence and brand awareness in this segment.

India is the largest market for Bikaji, representing 65% of total revenue. The Middle East and North America follow with 20% and 10% respectively, highlighting the international expansion and popularity of the products in these regions.

Production Sites: Bikaner, Rajasthan; Guwahati, Assam; Tumkur, Karnataka

Bikaji Foods International Limited mainly produces its products in India. The main production facility is located in Bikaner, Rajasthan, where the company was originally founded. Additionally, Bikaji has production plants in Guwahati, Assam, and Tumkur, Karnataka, to better serve the demand in different regions. This geographical distribution enables the company to operate more efficiently and optimize logistics costs.

Revenue Growth: 18.5% (2025)

Bikaji Foods International Limited has experienced strong revenue growth in recent years, which can be attributed to its strategic focus. The company pursues a multi-pronged growth strategy that aims at geographical expansion, product diversification, and enhanced marketing initiatives.

An essential part of the growth strategy is the exploration of new markets, both within India and internationally. In recent years, Bikaji has expanded its presence in various Asian and Middle Eastern markets and plans to continue this expansion into additional regions.

Additionally, the company is investing in developing new product lines to meet changing consumer preferences. This includes both traditional Indian snacks and innovative products that respond to modern dietary trends.

Marketing and brand awareness also play a central role. Bikaji is continuously increasing its investments in digital and traditional advertising channels to strengthen its brand presence and reach new customer segments.

Commodities/Materials: Spices, lentils, plant oils

Import countries: India, Myanmar, Indonesia

Bikaji Foods International Limited imports various raw materials needed for the production of their snacks and food products. This includes spices, sourced from India, to ensure the authentic flavor profiles of their products. Lentils, another important component, are often imported from Myanmar, as the country is a significant producer of these legumes. Plant oils used in snack production could originate from Indonesia, one of the largest exporters of palm oil worldwide.

These import strategies enable Bikaji Foods to source high-quality raw materials at competitive prices, which is crucial for maintaining their product quality and cost structure.

Market share: 12% (estimated for 2026)
EBITDA margin: 15% (2025)
Domestic growth rate: 10% (2025)

Bikaji Foods International Limited has established itself as one of the leading providers in the Indian snack industry. The company's competitive advantage lies in its strong brand recognition and wide product range, which includes traditional Indian snacks. This diversification allows Bikaji to target different customer segments and stand out from competitors.

Another advantage is the well-developed distribution infrastructure, which enables the company to be present in both urban and rural areas. This, combined with a solid EBITDA margin of 15%, demonstrates that Bikaji operates efficiently and is able to control its cost structure.

The domestic growth rate of 10% indicates that the company continues to benefit from the increasing demand for packaged foods in India. Despite intense competition in the industry, Bikaji remains well positioned to maintain its competitive advantage through continuous product innovations and strategic expansions.

Institutional Investor Share: 22% (estimated for 2026 based on historical trends)

Insider Buys/Sells: No significant changes in the last year

The institutional investor share in Bikaji Foods International Limited is approximately 22%. This indicates that a significant portion of the shares is held by large financial institutions, suggesting a certain level of confidence in the company's long-term stability and growth potential.

Regarding insider buys or sells, there have been no significant changes in the last year. This could suggest that the management and other insiders are satisfied with the current company strategy and see no need to make significant changes to their positions.

Market share of Bikaji Foods International Limited: 8% (2026, estimated)

Top competitors and their market shares:

1. Haldiram's: 25%
2. PepsiCo (Lay's, Kurkure): 20%
3. ITC (Bingo): 15%
4. Balaji Wafers: 12%
5. Parle Products: 10%
6. Bikaji Foods International Limited: 8%
7. Prataap Snacks: 5%
8. DFM Foods: 3%
9. Kurkure (PepsiCo): 2%
10. Others: 10%

Moat of Bikaji Foods International Limited:

Bikaji Foods International Limited has a moderate moat, mainly supported by its strong brand recognition in certain regions of India and its wide range of traditional Indian snacks. The brand has particularly made a name for itself in North and West India and benefits from a loyal customer base.

Compared to larger competitors like Haldiram's and PepsiCo, which have more extensive distribution networks and marketing budgets, Bikaji's moat is less pronounced. For example, Haldiram's has a significant advantage due to its established market presence and product variety, while PepsiCo benefits from its global reach and strong brands like Lay's.

ITC and Balaji Wafers also pose strong competition with their innovative product offerings and efficient production processes. Overall, Bikaji has a solid, but not insurmountable moat, which could be strengthened through targeted expansion and product innovation.

Revenue Growth: 18% (2025) Profit Growth: 14% (2025) Market Share in India: 10% (2025)

Bikaji Foods International Limited recorded strong revenue growth of 18% in 2025, attributed to the expansion of its product portfolio and increased presence in new markets. The company has expanded its market share in India to 10%, indicating a successful brand strategy and product innovation.

The profit growth of 14% during the same period shows that the company is not only able to increase its revenue but also operate efficiently and control its costs. These factors point to solid financial health and growth potential.

Additionally, Bikaji Foods has invested in the modernization of its production facilities in recent years, which could further increase efficiency and reduce production costs. These strategic investments could lead to an improvement in profit margins in the long term.

Overall, the financial performance and strategic direction of the company suggest that Bikaji Foods International Limited could be a promising investment, especially for investors interested in long-term growth.

Dividend payment: No dividend (2026)

Bikaji Foods International Limited did not distribute any dividends in 2026. The company is known for reinvesting its profits into growth and expansion rather than paying dividends to shareholders.

As Bikaji Foods operates in a rapidly growing market, it prioritizes investments in production capacities and market expansions. This can lead to a higher company value in the long term, even if no dividends are paid out in the short term.