BackMrs Bectors Food Specialities Q4 Results: Net profit rises to ₹27.6 crore, revenue up 37%; dividend declared
The premium biscuit maker's revenue from operations in the January-March quarter stood at ₹346 crore, posting a growth of 37 per cent, compared to ₹252.3 crore in the year-ago period.
PremiumMrs Bectors Food Specialities announced its Q4FY23 results on May 25, reporting a net profit of ₹27.6 crore, with a growth of 170 per cent, compared to ₹10.2 crore in the corresponding period last year. The premium biscuit maker's revenue from operations in the January-March quarter stood at ₹346 crore, posting a growth of 37 per cent, compared to ₹252.3 crore in the year-ago period.
The company's board recommended a final dividend of ₹1.75 per equity share having face value of Rs. 10 each (i.e. 17.5 per cent) for the financial year 2022-2023, upon the approval of shareholders. The board also announced the re-appointment of Rajiv Dewan as the non-executive independent director of the company for the second term for a period of five years subject to the approval of the shareholders.
The board also approved an investment of upto Rs. 1 crore in equity share capital of Mrs. Bectors English Oven Limited - wholly owned subsidiary company of Mrs. Bectors Food Specialities Limited.
‘’Our robust performance, delivered by product portfolio optimization and premiumization efforts coupled with strengthening brand equity, increase in distribution touchpoints, enhanced direct reach and responsible pricing actions aided in offsetting the ongoing pressure from consistent inflation during the year,'' said Anoop Bector, Managing Director.
On the operating front, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) during the fourth quarter came in at ₹48 crore, registering a surge of 90 per cent, compared to ₹25.3 crore in the same quarter last fiscal.
The biscuit segment revenue for Q4FY23 stood at ₹203 crore against ₹143 crore in the year-ago period, registering a growth of 42 per cent including domestic and export biscuit segment.
Mrs. Bectors Food Specialities is one of the leading companies in the premium and mid-premium biscuits segment in North India under the brand ‘Cremica’ and a leading premium bakery player in India under the brand ‘English Oven. The company is expanding through modern trade and e-commerce and is a leading biscuits exporter to 69 countries across six continents.
The bakery segment revenue for Q4FY23 stood at ₹128 crore, compard to ₹95 crore in the corresponding period last year, registering a growth of 34 per cent including retail bakery and institutional segment.
‘’The company continues to make significant investments on human capital and digitalization of our new tracking systems and has successfully smoothened the business during the year. I am pleased to inform we have enhanced our presence in new geography and existing territory under both biscuit and bakery segment,'' said Bector.
On May 25, shares of Mrs Bectors Food Specialities settled 2.73 per cent higher at ₹659.90 apiece on the BSE.
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