Packaged Foods company Mrs. Bectors Food Specialities announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenues for Q4FY24 stood at Rs 406.4 crore, reflecting a growth of 17.4% compared to Q4FY23 figure of Rs 346.1 crore. Gross Profit in Q4FY24 amounted to Rs 194.0 crore, indicating a notable increase of 24.0% from Q4FY23 value of Rs 156.4 crore. EBITDA for Q4FY24 reached Rs 58.6 crore, marking a growth of 21.6% compared to Q4FY23 figure of Rs 48.2 crore. Profit After Tax (PAT) in Q4FY24 was Rs 33.6 crore, showcasing a rise of 21.6% from Q4FY23 value of Rs 27.7 crore. EBITDA Margins improved to 14.4% in Q4FY24 from 13.9% in Q4FY23. PAT Margins also saw an increase, reaching 8.3% in Q4FY24 compared to 8.0% in Q4FY23. FY24 Financial Highlights: Revenues for FY24 surged to Rs 1,623.9 crore, marking a substantial growth of 19.2% from FY23 figure of Rs 1,362.1 crore. Gross Profit in FY24 amounted to Rs 757.8 crore, indicating a significant increase of 24.6% from FY23 value of Rs 608.1 crore. EBITDA for FY24 reached Rs 242.4 crore, showcasing a remarkable growth of 38.4% compared to FY23 figure of Rs 175.2 crore. Profit After Tax (PAT) in FY24 was Rs 140.4 crore, demonstrating a substantial rise of 55.8% from FY23's value of Rs 90.1 crore. EBITDA Margins improved to 14.9% in FY24 from 12.9% in FY23. PAT Margins also saw a significant increase, reaching 8.6% in FY24 compared to 6.6% in FY23. Commenting on the Results, Anoop Bector, Managing Director said, “I’m pleased to announce that the company has delivered a remarkable revenue growth of 17.4% and profitability improved by 21.6% to Rs 33.6 crore in Q4 FY24 on a YoY basis. Our branding and marketing initiatives have been well-positioned to create strong brand recognition among customers. We continue to focus on the premiumisation of our products and increasing our footprint in both existing and new territories by enhancing retail touchpoints and expanding our distribution reach.” Result PDF
Mrs. Bectors Food Specialities announced Q3FY24 & 9MFY24 results: Q3FY24 vs Q3FY23: Revenues: Rs 428.9 crore, showing a growth of 16.6% compared to Q3FY23. Gross Profit: Rs 194.6 crore, increased by 17.8% from Q3FY23. Gross Profit Margin: 45.4%, up from 44.9% in Q3FY23. EBITDA: Rs 61.2 crore, grew by 19.4% compared to Q3FY23. EBITDA Margin: 14.3%, improved from 13.9% in Q3FY23. Profit After Tax (PAT): Rs 34.6 crore, showing a significant growth of 24.6% compared to Q3FY23. PAT Margin: 8.1%, increased from 7.5% in Q3FY23. 9MFY24 vs 9MFY23: Revenues: Rs 1,217.6 crore, increased by 19.8% compared to 9MFY23. Gross Profit: Rs 563.8 crore, up by 24.8% from 9MFY23. Gross Profit Margin: 46.3%, improved from 44.4% in 9MFY23. EBITDA: Rs 183.8 crore, showing a significant growth of 44.8% compared to 9MFY23. EBITDA Margin: 15.1%, increased from 12.5% in 9MFY23. Profit After Tax (PAT): Rs 106.7 crore, showing a substantial growth of 71.0% compared to 9MFY23. PAT Margin: 8.8%, improved from 6.1% in 9MFY23. Commenting on the Results, Anoop Bector, Managing Director said, “Our investments across different business verticals have reaped benefits for us which is evident from our strong quarterly performance. Our consolidated Q3 revenues increased by 17% and PAT by 25% on YoY basis. Manufacturing superior and stringent quality products has been our strength and we are pleased to announce that our upcoming state of the art manufacturing facilities at Dhar, MP & Khopoli (Maharashtra) are on track and we have commenced construction of the respective factory buildings as well. Moving forward these incremental capacities complemented with our efforts in establishing robust distribution network over the last few years will help the company to expand our operations into newer markets as well as penetrate the existing markets. We remain committed to distribution led growth and are confident of achieving our target of 3.2 Lakhs direct distribution reach by the end of FY24." Result PDF
Packaged Foods company Mrs. Bectors Food Specialities announced Q2FY24 & H1FY24 results: Q2FY24: Revenues: Rs 414.5 crore, up by 19.3% YoY and 10.8% QoQ. Gross Profit: Rs 193.6 crore, marking a 25.2% YoY increase and 10.2% QoQ. Gross Profit Margin: 46.7%, a YoY increase of 218 basis points (bps), a slight QoQ decrease of 24 bps. EBITDA: Rs 64.7 crore, with a significant 45.5% YoY increase and 11.6% QoQ. EBITDA Margin: 15.6%, up by 281 bps YoY, a marginal 11 bps QoQ. Profit After Tax: Rs 37.3 crore, showing a substantial 70.1% YoY growth and 7.0% QoQ. PAT Margin: 9.0%, with a 268 bps YoY increase, a slight decrease of 32 bps QoQ. H1FY24: Revenues: Rs 788.7 crore, up by 21.7% YoY. Gross Profit: Rs 369.2 crore, showing a 28.9% YoY increase. Gross Profit Margin: 46.8%, up by 263 bps YoY. EBITDA: Rs 122.6 crore, a significant 61.9% YoY increase. EBITDA Margin: 15.5%, up by 387 bps YoY. Profit After Tax: Rs 72.1 crore, demonstrating a substantial 108.2% YoY increase. PAT Margin: 9.1%, up by 380 bps YoY. Commenting on the results, Anoop Bector, Managing Director said, “It has been another strong quarter for us on the revenue and margin front. Our revenues for the second quarter increased by 19% and PAT by 70% on a YoY basis. We continue to focus on distribution, marketing, premiumization within existing product segments, and providing customers with differentiated products both in domestic and international markets. This has resulted in revenue and margin expansion. We believe there is a lot of room for the company to increase distribution reach in the existing markets in North India. We remain committed to strengthening our footprint across other states in the coming years for both business segments. Our focus also continues to be on the export and QSR businesses, where we are supported by the growth of existing customers and the addition of new ones. Geographical diversification backed by our distribution expansion, premiumization, and marketing will be the key growth drivers for the company in the coming quarters” Result PDF
Conference Call with Mrs. Bectors Food Specialities Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.