Mrs Bectors investors await proof of recovery
₹1,558 crore, a decline from FY25’s 15.4% growth to ₹1,874 crore.Exports have been a key drag this year amid tariff uncertainty. With 36% of FY25 revenue coming from overseas markets, the impact is material. In Q3FY26, export growth slipped to the low single digits.
The biscuits segment, spanning domestic and export sales, grew 6% year-on-year, while the bakery business, including retail and institutional sales, fared better with 13% growth led by the English Oven brand. Overall, Q3 revenue rose 8.4% to ₹533 crore, with biscuits contributing about three-fifths and bakery making up most of the rest.Management expects export momentum to recover in FY27, having guided for mid-to-high teens growth. In contrast, domestic biscuits and quick-service restaurant (QSR) channels are likely to see relatively slower growth.
The company also supplies buns and other bakery and frozen products to QSR chainsin India. Within biscuits, “(The) management highlighted that the bulk of future domestic distribution expansion will be focused on lower north markets, which are expected to account for nearly 80% of total distribution additions,” said analysts from Motilal Oswal Financial Services after recently interacting with Mrs. Bectors management.Here, key markets include Uttar Pradesh, Haryana, Madhya Pradesh, and parts of Rajasthan.
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