Bikaji Foods International Limited has announced its annual report for the financial year ended March 31, 2022. As per the annual report, the total revenue of the company increased by 22%, to Rs. 1622 crore in FY22 as against Rs. 1321 crore in the previous financial year. The company has reported total expenses of Rs. 1516 crore in FY22, an increase of 26%, as against Rs. 1202 crore in FY21. However, PBT dropped by 12%, to Rs. 105 crore from Rs. 120 in the previous financial year. The net profit of the company has also decreased by 15%, to Rs. 90 crore, compared to Rs. 76 crore in the previous financial year. The Board of Directors recommends a final dividend of ₹ 0.10 on equity shares.
Bikaji Foods International Limited is one of the fastest growing FMCG companies in India. Bikaji Foods International Limited has 6% market share in sweets, 5.5% in papad, 9% in ethnic snacks and10% in Namkeen. The market share is growing fast each year.
Bikaji Foods International is a leading exporter of Indian ethnic snacks, sweets besides savories from India with exports in 35 countries including North America, Asia Pacific, Middle East, EU, Africa, and UK regions. Exports contributed approximately 5.09% of the total sales predominantly in North America and Asia Pacific regions during Fiscal 2021. In fiscal 2019, 2020, 2021, and 2022, Bikjai exported products to 22, 29, 31 and 35 countries, respectively.
The revenue from operations outside India was 369.04 million, ₹ 460.23 million, ₹ 664.57 million and ₹ 640.53 million respectively, and accounted for 4.11%, 4.29%, 5.08% and 4.01% of our sale of food products in the stated periods respectively. Particularly impacting exports to international markets as a rise in freight costs may impact the business.
The company is continuously seeking to increase the presence in existing export markets as well as expand geographical footprint to access a more diversified customer base across various geographies as part of expansion strategy.
Further, during the financial year 2021-22, the Company vide letter dated January 05, 2022 received approval under the Production Linked Incentive Scheme introduced by the Ministry of Food Processing Industries. Approval has been granted under branding and marketing expenditure abroad for Fiscal 2022 until Fiscal 2026 of the aforesaid Scheme.
The Company has committed to spend ₹ 464.70 million on brand and marketing expenditure for promotion of Indian brand until the end of Fiscal 2026. The maximum incentive to be received by the company under the Scheme will be ₹ 232.40 million. The minimum expenditure for incentive shall be ₹ 50.00 million over a period of five years.