Bikaji Foods International is increasing investment in India and the US after reporting stronger fourth-quarter and full-year earnings for fiscal 2026.
In stock exchange disclosures yesterday (21 May), the company said it will acquire a 74% stake in Chhattisgarh-based Jai Barbareek Dev Snacks and invest $5m in its wholly owned US subsidiary, Bikaji Foods International USA Corp., to set up a manufacturing plant in the US.
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Bikaji said the Indian acquisition is intended to “accelerate business growth and enhance market presence in the Chhattisgarh, thereby ensuring wider reach and improved customer accessibility”.
The target company, incorporated in 2022, reported a turnover of Rs198.1m ($2m) in fiscal 2025.
After the transaction, it will become a Bikaji subsidiary.
The US investment will be made in cash in tranches over about ten months to “accelerate business growth and enhance market presence”.
Bikaji’s US division, incorporated in New Jersey in July 2023, recorded a turnover of $2.62m in fiscal 2026, compared to $1.77m in 2025 and $1.1m in 2024.
For Bikaji Foods International, revenue from operations in the fourth quarter to 31 March increased 18% year-on-year to Rs7.20bn, while profit after tax rose 39.8% to Rs560m. Volume growth in the quarter was 16.1%.
For the year, revenue rose 14.4% to Rs29.93bn, EBITDA increased 25.1% to Rs4.10bn and the margin improved 120 basis points to 13.7%.
Full-year profit after tax stood at Rs2.54bn, while volume growth was 9.5%. Ethnic snacks remained the biggest segment, accounting for 68.9% of annual revenue after growing 11.2%.
Packaged sweets rose 8.9%, western snacks 6.8% and papads 10.9%.
Bikaji Foods International managing director Deepak Agarwal said: “The company delivered a strong fourth quarter, with healthy growth of 18% in revenue from operations driven by broad-based, volume-led momentum across the core snacks portfolio.”
He said demand trends stayed resilient, supported by staples-led snacking, formalisation in the unorganised segment and continued traction in focus markets.
“Modern formats – particularly e-commerce and modern trade – continued to outpace the broader market, while general trade delivered steady gains supported by ongoing distribution expansion,” Agarwal added.
As of 31 March 2026, Bikaji had total installed manufacturing capacity of 325,320 metric tonnes and direct distribution reach of 353,638 outlets.
In April, Bikaji’s chairman and director Shiv Ratan Agarwal passed away.
The company said he was “instrumental in shaping the company’s journey from its origins in Bikaner into a globally recognised packaged food enterprise”.
Last year, Bikaji also entered Nepal through a joint venture with Chaudhary Group to manufacture, trade and market snacks and sweets in the country, including bhujia, namkeen and papads.
