Bikaji Foods International Ltd Share Price

History of Bikaji Foods International Ltd

Bikaji Foods International Limited was originally incorporated as a Public Limited Company under the name 'Shivdeep Industries Limited' under the Companies Act, 1956, dated October 6, 1995 at Jaipur and received a Certificate of Commencement of Business from the RoC on October 27, 1995, following its conversion from erstwhile Partnership Firm, 'Shivdeep Food Products' to 'Shivdeep Industries Limited'. Subsequently, name of the Company was changed from 'Shivdeep Industries Limited' to 'Bikaji Foods International Limited' pursuant to the Shareholders' Resolution dated September 8, 2011 and a fresh Certificate of Incorporation dated October 5, 2011 was issued by the RoC. The Company is the third largest ethnic snacks company in India with an international footprint, selling Indian snacks ...and sweets, and are the second fastest growing company in the Indian organised snacks market. Its product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range and cookies. The Company is primarily involved in manufacturing, purchase and sale of snacks food. The Company was the largest manufacturer of Bikaneri bhujia with annual production of 29,380 tonnes, and was second largest manufacturer of handmade papad with an annual production capacity of 9,000 tonnes in Fiscal 2022. It is also the third largest player in the organised sweets market with annual capacity of 24,000 tonnes for packaged rasgulla, 23,040 tonnes for soan papdi and 12,000 tonnes for gulab jamun. As of June 30, 2022, the Company had six depots, 38 superstockists, 416 direct and 1,956 indirect distributors that work with their superstockists, located across 23 states and 4 union territories in India. Further, it also started supplying products for sale in Indian army canteens from August 2022. Presently, it has seven operational manufacturing facilities with 4 facilities located in Bikaner (Rajasthan), one in Guwahati (Assam), one facility in Tumakuru (Tumkur) (Karnataka) held through of one of its subsidiary, Petunt Food Processors Private Limited to cater to southern markets in India and one facility in Muzaffarpur (Bihar) held through the other subsidiary, Vindhyawasini Sales Private Limited to cater to core market of Bihar, respectively. In addition, the Company has entered into an agreement with a contract manufacturing unit in Kolkata (West Bengal), that cater to certain parts of eastern India, and two contract manufacturing agreements with Group Company, Hanuman Agrofood at Bikaner and with another third-party contract manufacturer located at Kanpur, Uttar Pradesh. It also has one small facility in Mumbai to manage restaurant sales in Mumbai. Their manufacturing facilities are generally equipped with modern and automated production processes, with specialized custom-made manufacturing equipment obtained from national and international suppliers. In particular, the production process for bhujia, namkeen snacks and packaged tin-based sweets are automated. It also has started manufacturing papad through automation. However, most of papad products are handmade, and the Company indirectly work with rural women through independent contractors for production of papad. In 2006, the Company integrated business by forming amalgamation with four Group Companies, i.e., Bikaji Foods Private Limited, Shivdeep Food Products Private Limited, Bikaji Marketing Limited, and Dipu's Foods Private Limited. In 2008, it commenced operations by opening of first restaurant, 'Bikaji Food Junxon' in Mumbai. In 2016, it commissioned new facility at Karni Industrial Area, Bikaner. In 2019, it acquired a subsidiary, Petunt Food Processors Private Limited. In 2022, it acquired 100% stake of Vindhyawasini Sales Private Limited. The Company came out with a Public Issue in November, 2022 by raising funds aggregating to Rs. 880.845 crores through Offer for Sale. 3 new plants were established in Muzaffarpur, Kanpur, and Bikaner through the expansion process in 2023. A foreign subsidiary Bikaji Foods International USA Corp was incorporated in 2023. Bhujialalji Private Limited and Bikaji Mega Food Park Private Limited were acquired, consequential to which they became associate and subsidiary, respectively. A new production line for the Frozen Food category was established in Bikaner. In 2023-24, Hanuman Agrofood Private Limited, a wholly-owned subsidiary has been merged with the Company through the Scheme of Amalgamation, which became effective from February 14, 2024. The Company incorporated a new wholly-owned subsidiary, in the name of Bikaji Foods International USA Corp on July 10, 2023. It acquired 49% of equity stake in Bhujialalji Private Limited (BPL), making it an associate of the Company on July 19, 2023 and thereafter, acquired equity stake of 51% in Bikaji Mega Food Park Private Limited (BMFPPL), making it a subsidiary of the Company on August 10, 2023. The Company acquired stake in Hazelnut Factory Food Products Private Limited in October, 2024. In December 2024, it incorporated Bikaji Bakes Private Limited. The Company acquired Ariba Foods Private Limited in September 2024. On September 20, 2024, the Company incorporated Bikaji Foods Retail Limited (BFRL) as a wholly owned subsidiary. The Company expanded the direct reach to over 3.11 lakh retail outlets, an increase of nearly 60,000 outlets in FY25. Company has ventured into the Bakery Category with the establishment of a state-of-the-art production facility at Tumkur, Karnataka in 2025. It opened the first Quick Service Restaurants (QSR) service at Sikar in Rajasthan on February 16, 2025. Company has initiated the Scheme of Amalgamation of Vindhyawasini Sales Private Limited with the Company in FY 2024-25.