Bikaji Foods International shares jump over 9% on robust Q4 results
Shares of Bikaji Foods International jumped 9.3% to Rs 583.9 in Friday's trade on BSE after the firm posted a massive 200% jump in net profit at Rs 116.3 crore in the quarter ended March 31, compared to Rs 38.67 crore in the year-ago period.
Sequentially, the profit recorded a 153% jump compared to Rs 46 crore in the December quarter.
Its revenue from operations rose 12.8% to Rs 520.8 crore in the March quarter, from Rs 461.7 crore in the same period last year. Meanwhile, Bikaji Foods' total expenses surged to Rs 471.20 crore in Q4 FY24 as against the total expenses of Rs 415.43 crore in the similar period last fiscal.
EBITDA was up 10.2% at Rs 67.5 crore in the reported quarter from Rs 61.3 crore in the year-ago period, while margin stood at 13% in the said quarter.
The board of the company also approved a final dividend of Re 1 per equity share.
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At 10:44 am, the stock was trading 4.65% higher on the BSE. On a year-to-date basis, it has delivered just over 2% returns, while gaining 46% over the past year.
As per Trendlyne data, the average target price of the stock is Rs 627, which shows an upside of 12% from the current market prices. The consensus recommendation from 5 analysts for the stock is a 'Buy'.
In technical terms, the relative strength index (RSI) of the stock is currently at 53.7. The RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. Additionally, the MACD is at 2.8, which is above
