Mrs Bectors Food hits record high on strong Q4 outcome
May 26, 2023 12:38 PM | Source: capitalmarket.com
Mrs Bectors Food Specialities surged 9.41% to Rs 722 after the company's consolidated net profit zoomed 171.06% to Rs 27.65 crore in Q4 FY23 as against Rs 10.20 crore in Q4 FY22.
Revenue from operations jumped 37.16% year on year (YoY) to Rs 346.08 crore in the quarter ended 31 March 2023.
Profit before tax soared 192.59% to Rs 37.02 crore in Q4 FY23 as compared with Rs 12.65 crore in Q4 FY22.
EBITDA grew 89.5% YoY to Rs 48.2 crore while EBITDA margin improved by 380 basis points to 13.9% during the period under review.
During the financial year, Mrs Bectors Food Specialities' consolidated net profit surged 57.63% to Rs 90.07 crore on 37.84% rise in revenue from operations to Rs 1,362.13 crore in FY23 over FY22.
Anoop Bector, managing director said, “FY23 was a remarkable year for Mrs. Bectors Food as we continue to break our historical operational & financial records. Our robust performance, delivered by product portfolio optimization & 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.
I am satisfied with the overall Q4 & FY23 performance of the company with a record turnover and profit. We continue on our journey of extensive selling and distribution drive to achieve doubling our retail touchpoints by March 2024. This distribution drive would be supported by our robust impact-led marketing and branding campaigns which would drive the next leg of growth for the company across business segment supported by our passionate teams, to address significant opportunities that lie ahead."
Meanwhile, the board has recommended a final dividend of Rs 1.75 per equity share for the FY 2022-2023.
Further, the company's board considered and approved investment of upto Rs 1 crore in equity share capital of Mrs. Bectors English Oven, wholly owned subsidiary company of Mrs. Bectors Food Specialities.
Mrs. Bectors Food Specialities is one of the leading companies in the premium and mid-premium biscuits segment in North India and a leading premium bakery player in India. The company is the sole / preferred supplier to some of the Largest QSR Franchises, Cloud Kitchens and Multiplexes in India.
The scrip hit an all time high at Rs 733.90 in intraday today on BSE.