BIKAJI FOODS INTERN LTD

Makes and sells packaged Indian snacks — chiefly namkeen (with bhujia as the flagship product), sweets and western snacks — under the Bikaji brand. Products are sold through general trade outlets, the company's own THF specialty/crossover retail stores, e-commerce and quick commerce in India, and exported to 47 countries; a wholly-owned US subsidiary (Bikaji Foods USA Corp) is being set up with a local manufacturing plant. FY26 revenue from operations was ~INR 2,994 crore at 9.5% volume growth (Q4 alone crossed ~INR 720 crore at 18%+ growth); the family-pack format grew 20% and impulse packs 14% in Q4, supported by the "Bhujia ho toh Bikaji" and "Kya Baat Hai Ji" campaigns. THF retail and exports each crossed INR 100 crore for the first time, with exports at ~3.96% of revenue; e-com and quick commerce made up 3% of business at ~100% YoY growth. Distribution reached 3.5 lakh outlets (target 5 lakh in 3 years) and a new sweets factory in Bikaner is planned with FY27 capex of ~INR 100 crore to ease sweets capacity constraints. The largest cost is raw materials at 62.8% of revenue — edible oils rose 12-14% and packaging material 25-30%, partly offset by a ~3% April price hike — followed by other operating expenses at 14.7% and employees at 6.6%.