Bikaji Foods Inter.

BENGALURU, Aug 20 (Reuters) - Diary of India economic, corporate events on August 20

ECONOMIC, CORPORATE .BSE500 EVENTS

(Compiled by Bengaluru Newsroom)

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** Shares of Bikaji Foods International BIKA.NS fall 3.44% to 627.9 rupees, their sharpest fall since April 24

** Ethnic snacks maker's Q1 PAT was largely flat Y/Y despite 12.5% revenue growth, as higher material costs, amid persistent raw material inflation, limited earnings growth

** Marks its weakest quarterly profit growth in at least 13 quarters

** Over 196,000 shares traded, 1.8x the 30-day avg

** Stock down 16.3% YTD

(Reporting by Aleef Jahan in Bengaluru)

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Aug 5 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• BIKAJI FOODS INTERNATIONAL LTD JUNE-QUARTER CONSOL NET PROFIT 601.4 MILLION RUPEES

• BIKAJI FOODS INTERNATIONAL LTD JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 7.2 BILLION RUPEES

• BIKAJI FOODS INTERNATIONAL - APPROVES INVESTMENT OF 150 MILLION RUPEES IN C.G. BIKAJI JOINT VENTURE IN NEPAL

Source text: ID:nBSE7jpRJ5

Further company coverage: BIKA.NS

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May 15 (Reuters) - Zaggle Prepaid Ocean Services Ltd ZAGG.NS:

• ZAGGLE PREPAID OCEAN SERVICES LTD - ENTERS AGREEMENT WITH BIKAJI FOODS INTERNATIONAL LIMITED TO PROVIDE EMPLOYEE EXPENSE MANAGEMENT SERVICES

Source text: ID:nNSE7YdbRk

Further company coverage: ZAGG.NS

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Jan 27 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• BIKAJI FOODS INTERNATIONAL LTD - APPROVED JOINT VENTURE FOR FROZEN AND BAKERY BUSINESS

• BIKAJI FOODS INTERNATIONAL LTD - APPROVED 250 MILLION RUPEES INVESTMENT IN JAI BARBAREEK DEV SNACKS

Source text: ID:nBSE36rxPS

Further company coverage: BIKA.NS

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Sept 4 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• BIKAJI FOODS CFO: WILL TAKE DECISION ON PRICE REDUCTIONS FOR FAMILY PACK NAMKEENS AFTER TAX REFORMS

Further company coverage: BIKA.NS

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** Proposed reductions in India's goods and services tax (GST) will drive formalization of consumer goods industries, Nomura says

** Marico MRCO.NS, Tata Consumer TACN.NS and Britannia Industries BRIT.NS are brokerage's top picks

** BRIT, with 80% of revenue from biscuits and Colgate-Palmolive (India) with 80% revenue from toothpastes COLG.NS to benefit most from tax rate cut on staples to 5% from 18%

** Quick service restaurants, thanks to reduced tax on key material cheese, as well as snacks --Bikaji BIKA.NS-- and stationary makers --ITC ITC.NS-- to benefit most from tax rate cut to 5% from 12%

** Meanwhile, if GST rate on cigarettes rises to 40% and all other taxes are unchanged, Nomura argues this would lead to a roughly 7% increase in effective tax burden for companies like ITC, "which we believe will be passed on to consumers without any major backlash."

** However, ITC could see lower volumes if main GST rate as well as other taxes are raised on cigarettes -- Nomura

** Indian consumer stocks .NIFTYFMCG have risen 4% since Prime Minister Narendra Modi announced tax cut plans on August 15

(Reporting by Nandan Mandayam in Bengaluru)

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July 24 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• ENTERS JOINT VENTURE WITH CHAUDHARY GROUP IN NEPAL

• PARTNERSHIP FOR MANUFACTURING, MARKETING BIKAJI'S PORTFOLIO IN NEPAL

Source text: ID:nBSE3WjZBm

Further company coverage: BIKA.NS

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July 23 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• BIKAJI FOODS INTERNATIONAL JUNE-QUARTER CONSOL NET PROFIT 599 MILLION RUPEES

• BIKAJI FOODS INTERNATIONAL JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 6.37 BILLION RUPEES

Source text: [ID:]

Further company coverage: BIKA.NS

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June 6 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• NCLT APPROVAL OF SCHEME OF AMALGAMATION OF VINDHYAWASINI SALES WITH CO

Source text: ID:nBSEX8K3j

Further company coverage: BIKA.NS

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** Indian snacks maker Bikaji Foods BIKA.NS slides as much as 12.97% to 638.55 rupees, last down ~10.5%

** BIKA's Q3 profit after tax fell ~37% y/y to 307.9 bln rupees, owing to a ~15% rise in expenses

** Rev from ops grew ~18%; its EBITDA margin narrowed to 7.8% from 12% a year ago

** Co said EBITDA margin contraction due to strong inflationary pressure, unfavorable raw material prices

** Stock eyes busiest trading session in near 4-mnths, volumes at 5x the 30-day avg

** BIKA stock rated "buy" on avg by four brokerages, median PT at 937 rupees - LSEG data

** Stock down ~17% YTD vs ~3% fall in Nifty 500 index .NIFTY500

(Reporting by Manvi Pant in Bengaluru)

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Feb 6 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• DEC-QUARTER CONSOL NET PROFIT 285.7 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 6.97 BILLION RUPEES

Source text: ID:nBSE6Kmx6D

Further company coverage: BIKA.NS

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Jan 24 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• GOT GST DEMAND ORDER FOR 55.4 MILLION RUPEES PLUS INTEREST AND PENALTY

Source text: ID:nNSE7dNp7x

Further company coverage: BIKA.NS

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** Shares of Bikaji Foods International BIKA.NS rise 4% to 869 rupees

** Snack food maker posts ~13% Y/Y rise in its consol net profit for Sept qtr, while rev rose ~15%

** BIKA, on an avg, rated "buy" by analysts, median TP 775 rupees - LSEG data

** BIKA up 59% YTD vs 15.5% rise in Nifty 500 index .NIFTY500

(Reporting by Yagnoseni Das in Bengaluru)

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Oct 16 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• BIKAJI FOODS INTERNATIONAL - UNIT TO INVEST 1.31 BILLION RUPEES IN HAZELNUT FACTORY FOOD PRODUCTS

• BIKAJI FOODS INTERNATIONAL - UNIT TO ACQUIRE 53.02% STAKE IN HAZELNUT FACTORY FOOD PRODUCTS

Source text for Eikon: ID:nNSE8PDsf4

Further company coverage: BIKA.NS

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** Shares of Bikaji Foods International BIKA.NS settle 2.4% up at a record close of 976 rupees

** Snacks food maker receives Indian government's approval to form a unit named Bikaji Foods Retail

** Co says unit to pursue new business in areas of quick service restaurants and food chains, among others

** Stock hit record highs in four of five trading sessions, gaining 15% in the period

** BIKA up 79% YTD vs 25.5% rise in Nifty 500 index .NIFTY500

(Reporting by Nishit Navin)

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** India's Nifty 50 .NSEI and Sensex .BSESN overcome a lacklustre start to rise 0.5%, led by IT and pharma companies

** IT firms .NIFTYIT, which earn a significant share of revenue from the U.S., gain about 2% ahead of U.S. inflation data on Weds that could influence the size of a Federal Reserve rate cut next week

** Markets expect a 25 bps cut, but softer-than-expected data would boost the chances of a 50 bps cut, and that could also spur a global stocks rally, says Sunny Agrawal, head of fundamental equity research at SBICaps Securities

** Pharma index .NIPHARM gains 1.1% after India recommends a tax cut on select cancer drugs

** A tax cut on savoury snacks boosts Gopal Snacks GOPA.NS by 9%, while Prataap Snacks PRAT.NS and Bikaji Foods BIKA.NS gain about 3% each

(Reporting by Bharath Rajeswaran in Bengaluru)

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By Praveen Paramasivam

CHENNAI, Aug 28 (Reuters) - Indian snacks maker Bikaji Foods BIKA.NS is "not for sale" and is instead on the prowl itself, aiming to cash in on the growing appetite for savoury brands in the world's most populous country, a top executive told Reuters.

The Indian savoury snacks sector has ballooned in recent years as consumers splurge on packaged foods.

"Bikaji is not for sale. Whatever price someone offers, there are certain things that are not for sale," Chief Operating Officer Manoj Verma said earlier this month, without disclosing whether the company has received buyout offers.

His comments came after India's Tata Group and a consortium including Blackstone and Singapore's GIC held acquisition talks with market leader Haldiram's.

Shares in Bikaji, which is majority-owned by founder Shiv Ratan Agarwal and his family, have gained around 67% to value the company at $2.55 billion since Reuters reported on investor interest in Haldiram's last September.

Haldiram's itself was in talks to acquire a majority stake in peer Prataap Snacks PRAT.NS in January.

"Suddenly, this has become a hot space," Verma said, adding that he expects the entry of heavyweight investors to make the market more competitive and fuel further growth.

Reuters reported in May that talks between Tata and Haldiram's had ended, while it is not immediately clear if other deal talks are still ongoing.

Bikaji, which recently bought stakes in Bhujialalji and Ariba Foods, aims to make more acquisitions only if they could help expand distribution or boost its presence in the frozen-food market, he said, adding that it has a budget of 1 billion rupees to 1.5 billion rupees (around $12 million-$18 million) for the right target.

The snacks maker, which brokerage Anand Rathi said is the third biggest Indian snacks brand behind Haldiram's and Balaji, is more focused on expanding its market share by 50 basis points every year from 9% currently.

Verma expects Bikaji's revenue to rise 16%-17% in the current fiscal year from 23.29 billion rupees in the year ended March 31.

($1 = 83.9330 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Dhanya Skariachan and Sonia Cheema)

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Aug 23 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• BIKAJI FOODS INTERNATIONAL - TO ACQUIRE 55% STAKE IN ARIBA FOODS

Source text for Eikon: ID:nBSE2nDh1t

Further company coverage: BIKA.NS

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July 30 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• BIKAJI FOODS INTERNATIONAL LTD- PROPOSED SALE OF CERTAIN EQUITY SHARES OF CO

• BIKAJI FOODS INTERNATIONAL LTD- DEEPAK AGARWAL, PROMOTER INTENDS TO SELL 0.12% OF STAKE

Further company coverage: BIKA.NS

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July 24 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• BIKAJI FOODS INTERNATIONAL LTD - JUNE-QUARTER CONSOL NET PROFIT 585.6 MILLION RUPEES

• BIKAJI FOODS INTERNATIONAL LTD - JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 5.72 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: BIKA.NS

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** Shares of Bikaji Foods International BIKA.NS rise as much as 3.7% to a record high of 747 rupees

** Nuvama Initiates coverage with ‘BUY’, with TP of 885 rupees

** Bikaji, strong in Rajasthan, Assam, and Bihar (market share 45%, 57%, 26%), targets growth in UP, Punjab, Haryana, Delhi, Karnataka, Telangana (1.5–2% share); aims to reach high-single digits there soon - Nuvama

** Rising consumer preference for savory snacks, ethnic snacks, alongside ongoing consolidation in unorganised sector, expected to fuel co's growth in years ahead, adds Nuvama

** Stock on track to rise for a sixth straight week, if gains hold

** BIKA stock up 33.1% so far this year

(Reporting by Yagnoseni Das in Bengaluru)

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** Shares of Bikaji Foods International BIKA.NS up as much as 9.4% to 584.70 rupees

** The snacks food maker reported a more than threefold jump in its March-qtr consolidated net profit to 1.16 bln rupees ($13.9 mln)

** Revenue from operations rose 12.8% Y/Y

** The ethnic snacks segment, which constituted about 73.5% of the total revenue for the quarter, grew 10.8% Y/Y

** More than 898,000 shares traded, 4.8x its 30-day avg

** Stock on track for a second straight week of gains, if current trends hold

** Including session's climb, stock has gained 3.8% YTD

($1 = 83.2000 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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May 23 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• BIKAJI FOODS INTERNATIONAL LTD - DIVIDEND 1 RUPEEPER SHARE

• BIKAJI FOODS INTERNATIONAL MARCH-QUARTER CONSOL NET PROFIT 1.16 BILLION RUPEES VERSUS PROFIT 381 MILLION RUPEES

• BIKAJI FOODS INTERNATIONAL MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 5.21 BILLION RUPEES VERSUS 4.62 BILLION RUPEES

Source text for Eikon: ID:nBSE6KBvKy

Further company coverage: BIKA.NS

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BENGALURU, Feb 2 (Reuters) - India's Bikaji Foods International BIKA.NS reported a 14.4% rise in third-quarter profit on Friday, driven by strong demand for its packaged sweets and snacks.

Consolidated net profit stood at 466.2 million rupees ($5.6 million) for the three months ended Dec. 31, compared with 407.4 million rupees a year earlier.

Increased purchases of snacks and sweets during the festive season, which typically spans from October to November, helped bolster the company's bottom line.

The ethnic snacks segment, which offers crispy, deep-fried snacks and Bhelpuri — a savoury, spicy and crunchy mix, constituted about 63% of the total revenue and grew 15.4% year-on-year.

The surge in ethnic segment spurred revenue from operations up 23% at 6.24 billion rupees.

Meanwhile, the packaged sweet segment logged the highest growth during the quarter, increasing nearly 83% and outshining ethnic snacks.

"The festive season played a significant role, alongside improvements in our operational efficiencies and advantageous pricing of raw materials," Managing Director Deepak Agarwal said in a statement.

Shares of Bikaji rose 12.6% during the quarter, outpacing the 10.4% increase in the Nifty FMCG index .NIFTYFMCG.

($1 = 82.8850 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Sohini Goswami)

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** Shares of Bikaji Foods International BIKA.NS up ~3% after 4.13% gain on Monday post jump in Q2 profit

** The snacks food maker posts 47% profit growth, aided by easing raw material costs

** JM Financial says results were "better than expected"; retains 'buy'

** Says improved profitability, receding capex intensity should help cash generation over fiscal 2023-2026

** Stock seeing most active in two months

** Stock now up ~71% since its trading debut in mid-Nov 2022

(Reporting by Bharath Rajeswaran in Bengaluru)

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Nov 6 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• INDIA'S BIKAJI FOODS INTERNATIONAL LTD SEPT-QUARTER CONSOL NET PROFIT 611.9 MILLION RUPEES VERSUS PROFIT 415.3 MILLION RUPEES

• BIKAJI FOODS INTERNATIONAL LTD SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 6.08 BILLION RUPEES VERSUS 5.76 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: BIKA.NS

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** Shares Bikaji Foods BIKA.NS up as much as 3.9% to 488.90 rupees

** Stock posts its biggest intraday percentage gain since Sept. 5

** Co says bought 30,000 more shares in unit Bikaji Foods Int'l USA Corp to expand and strengthen U.S. distribution

** Including day's gains, stock up over 11% YTD

(Reporting by Rama Venkat in Bengaluru)

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Changes sourcing in the headline, paragraph 1; adds interim-MD, CEO appointment in paragraph 3

By M. Sriram

NEW DELHI, Sept 15 (Reuters) - The co-CEO of Axis Bank's AXBK.NS investment banking unit Axis Capital, Chirag Negandhi, has resigned, according to an internal memo seen by Reuters on Friday.

The investment bank will likely tap an outside candidate for Negandhi's role, two sources with direct knowledge of the matter told Reuters.

Axis Capital named another co-Chief Executive Salil Pitale as the interim managing director and CEO, as per the memo.

Negandhi spent more than 13 years at the Axis' investment banking unit and would continue for three more months, the source added.

His departure was communicated internally on Friday, the first source said.

Axis Capital, one of the country's biggest investment banking firms, has been a part of some successful initial public offerings over the past year, including Cyient DLM CYIT.NS, Mankind Pharma MNKI.NS and Bikaji Foods BIKA.NS.

Axis Capital did not immediately respond to a Reuters request for comment. Negandhi declined to comment.

(Reporting by Sriram Mani; Writing by Tanvi Mehta and Sethuraman NR; Editing by Shweta Agarwal)

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