Mrs Bectors Food Specialities Q4FY23 profit jumps to Rs 27.65 crore, revenue up 37.2% on-year
Mrs Bectors Food Specialities posted its fiscal fourth quarter profit at Rs 27.65 crore, up 171.1 per cent as against Rs 10.20 crore in the corresponding quarter of last year. The company that manufactures biscuits, bread and bakery products marketed under Mrs Bector’s Cremica and Mrs Bector’s English Oven brands clocked revenue from operations at Rs 346.08 crore, up 37.2 per cent in comparison to Rs 252.31 crore in the fourth quarter of FY22. The premium biscuit maker’s EBITDA stood at Rs 48.1 crore. The Board also recommended a final dividend of Rs 1.75 per equity share of face value of Rs 10, that is, 17.5 per cent for the financial year ended March 2023. The company also announced the continuation and reappointment of Rajiv Dewan as the executive independent director of the company for the second term for a period of 5 years.
“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,” said Anoop Bector, Managing Director, Mrs Bectors Food Specialities.
Mrs Bectors Food Specialities’ performance across business verticals
The company’s biscuits segment revenue for Q4FY23 stood at Rs 203 crore, up 42 per cent on-year as against Rs 143 crore in Q4FY22. This included domestic as well as export biscuit segments. “Both domestic and export biscuits have grown by double digits in Q4FY23 as compared to the same period last year,” it said. The bakery segment revenue for the quarter was at Rs 128 crore, up 34 per cent in comparison to Rs 95 crore in Q4FY22. This included the retail bakery and institutional segment. “Both retail and institutional bakery has grown by double digits in Q4FY23 compared to the same period last year,” the company said.
Mrs Bectors Food Specialities has, during the year, invested on human capital and digitalization of new tracking systems and has also enhanced its presence in new geographies and existing territory under both biscuit and bakery segment. “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 segments,” said Anoop Bector.