BIKAJI

** 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)

(([email protected]))

** 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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Feb 2 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• DEC-QUARTER CONSOL NET PROFIT 466.2 MILLION RUPEES VERSUS PROFIT 407.4 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 6.24 BILLION RUPEES VERSUS 5.07 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: BIKA.NS

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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)

(([email protected]; +91 9769003463;))

CHENNAI, Nov 6 (Reuters) - India's Bikaji Foods International BIKA.NS reported a 47% increase in quarterly profit on Monday, benefitting from higher distribution of its crispy ethnic snacks and easing ingredient prices.

Prices of several raw materials in the packaged foods segment, including edible oils and corrugated boxes, have dropped in recent months, helping everyone in the sector from biscuit maker Britannia Industries BRIT.NS to Bikaji report solid earnings.

Bikaji — which has a strong foothold in Rajasthan, Bihar and Assam — has been rapidly expanding as the company tries to tap into India's growing middle class and is now focussing on states including Karnataka, Haryana and Uttar Pradesh.

The efforts helped its revenue from operations climb 5.6% to 6.08 billion rupees ($73.08 million) for the second quarter ended Sept. 30, according to a regulatory filing.

Net income surged 47.3% to 611.9 million rupees, as materials cost edged up only 1.4% compared with the almost 3% increase in the previous quarter.

Shares in Bikaji, which last quarter bought a 49% stake in smaller rival Bhujialalji, rose as much as 4.9% after results, taking their gains to over 15% this year.

($1 = 83.1970 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Tasim Zahid)

(([email protected]; +91 867-525-3569;))

** 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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By M. Sriram and Aditya Kalra

NEW DELHI, Sept 15 (Reuters) - Indian lender Axis Bank's AXBK.NS investment banking unit Axis Capital's co-Chief Executive Officer Chirag Negandhi has resigned, two sources with direct knowledge of the matter told Reuters, adding that the firm is likely to tap outside candidate for the role.

Negandhi's departure was communicated internally on Friday, the first source said.

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

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 and Aditya Kalra; Editing by Shweta Agarwal)

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Adds closing stock price paragraph 5; financials paragraph 18

By M. Sriram and Aditya Kalra

MUMBAI/NEW DELHI, Sept 6 (Reuters) - Tata Group's consumer unit is in talks to buy at least 51% of popular Indian snack food maker Haldiram's but is not comfortable with the $10 billion valuation sought, two people briefed on the matter said.

If successfully concluded, a deal would see the Indian conglomerate directly compete with Pepsi PEP.O and billionaire Mukesh Ambani's Reliance Retail.

Haldiram's, a household name in India, is also talking with private equity firms including Bain Capital about the sale of a 10% stake, they said.

Tata Consumer Products TACN.NS, which owns UK tea company Tetley and has a partnership with Starbucks SBUX.O in India, has baulked at the $10 billion valuation given that Haldiram's annual revenue is around $1.5 billion, the sources said.

Tata Consumer shares surged and closed nearly 4% higher in Mumbai trade after Reuters reported news of the talks.

A third person with direct knowledge of the discussions said Tata wants to buy more than 51% but has told Haldiram's that its "ask is very high."

The potential acquisition represents an exciting opportunity for Tata, the person said, adding: "Tata (Consumer) is seen as a tea company. Haldiram's is huge in the consumer space and has a wide market share."

The sources spoke on condition of anonymity.

A spokesperson for Tata Consumer Products said it "does not comment on market speculation". Haldiram's Chief Executive Krishan Kumar Chutani and Bain declined to comment.

Family-run Haldiram's traces its origins back to a tiny shop founded in 1937 and is well-known for its crispy "bhujia" snack sold for as little as 10 rupees across mom-and-pop stores.

It has almost 13% share of India's $6.2 billion savoury snack market, according to Euromonitor International. Pepsi, famous for its Lay's chips, also has around 13%.

Haldiram's snacks are also sold in overseas markets like Singapore and the United States. The company has around 150 restaurants selling local food, sweets and western cuisine.

Purchasing Haldiram's would significantly expand Tata's consumer products reach.

"If you want to suddenly grow big in size, no one better to provide access than Haldiram's. No other brand attacks packaged food, and food services, with equal panache," said Ankur Bisen, head of consumer and retail at Indian consultancy Technopak.

Tata's consumer unit, which also sells salt, pulses and mineral water, had revenue of $1.7 billion in the past financial year. It is a relatively small part of the Tata Group, whose businesses span autos, aviation and hotels and which had combined revenue last year of some $144 billion.

Haldiram's Chairman Manohar Lal Agrawal last year told CNBC TV18 in an interview the company wanted to attract private equity investors and debut on the stock market in 2-3 years.

Haldiram's - which has multiple registered companies in the country - had revenue of at least $981 million in the financial year ended March 2022, according to regulatory filings. The first two sources, however, said its revenue is now close to $1.5 billion and annual operating profit is around $200 million.

The $10 billion valuation sought by Haldiram's for the deal translates to 6.6 times its annual revenue of $1.5 billion, sources said.

Haldiram's smaller listed rival in India, Bikaji Foods International BIKA.NS, has a market capitalisation of $1.5 billion, six times its annual revenue. Shares in Bikaji also rose on Wednesday, climbing around 3% during trade.

(Reporting by M. Sriram and Aditya Kalra; Additional reporting by Chris Thomas Editing by Edwina Gibbs, Alexandra Hudson)

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Aug 10 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• ACQUIRED STAKE OF 51% IN BIKAJI MEGA FOOD PARK

Source text for Eikon: ID:nBSEbPG2SW

Further company coverage: BIKA.NS

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Aug 1 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• INDIA'S BIKAJI FOODS INTERNATIONAL LTD JUNE-QUARTER CONSOL NET PROFIT 416.5 MILLION RUPEES VERSUS PROFIT 162.4 MILLION RUPEES

• BIKAJI FOODS INTERNATIONAL LTD JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 4.82 BILLION RUPEES VERSUS 4.19 BILLION RUPEES

Source text for Eikon: ID:nBSE2Vdysr

Further company coverage: BIKA.NS

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July 19 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• DEAL VALUE FOR ACQUIRING 49% STAKE IN BHUJIALALJI AT 51 MILLION RUPEES

Source text for Eikon: ID:nBSEbZn2z3

Further company coverage: BIKA.NS

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July 11 (Reuters) - Bikaji Foods International Ltd BIKA.NS:

• INCORPORATED A NEW UNIT BIKAJI FOODS INTERNATIONAL USA CORP

Source text for Eikon: ID:nBSE31Nm8N

Further company coverage: BIKA.NS

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

• BIKAJI FOODS INTERNATIONAL LTD - BSE LIMITED AND NATIONAL STOCK EXCHANGE OF INDIA IMPOSED A TOTAL FINE OF 188,800 RUPEES ON CO

• BIKAJI FOODS INTERNATIONAL LTD - FINE DUE TO NON-COMPLIANCE WITH REQUIREMENTS PERTAINING TO CONSTITUTION OF NOMINATION AND REMUNERATION COMMITTEE

Source text for Eikon: ID:nNSEc9FfHw

Further company coverage: BIKA.NS

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

• INDIA'S BIKAJI FOODS INTERNATIONAL LTD MARCH-QUARTER CONSOL NET PROFIT 377.1 MILLION RUPEES VERSUS PROFIT 248.7 MILLION RUPEES

• BIKAJI FOODS INTERNATIONAL LTD MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 4.62 BILLION RUPEES VERSUS 4 BILLION RUPEES

• BIKAJI FOODS INTERNATIONAL LTD - RECOMMENDED APPOINTING SHIV RATAN AGARWAL AS CHAIRMAN

• BIKAJI FOODS INTERNATIONAL LTD - RECOMMENDED RE-APPOINTING DEEPAK AGARWAL AS A MANAGING DIRECTOR

Source text for Eikon: ID:nBSE4SgQ0

Further company coverage: BIKA.NS

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