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Mrs Bectors food specialties posts revenue of ₹226 crore in Q3
Institutional bakery sales started picking up pace as restaurants opened after relaxation of Covid-19 restrictions. The institutional bakery sales are coming back to pre-Covid levels.
Mrs Bectors Food Specialities has reported 86 per cent growth in its profit after tax at ₹21 crore during the October to December quarter from ₹11 crore in Q3 FY20.
It posted 11 per cent growth in revenues at ₹226 crore in Q3 FY21 from ₹203 crore in the same period of previous fiscal. Earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 40 per cent to ₹40 crore from 28 crore.
For the nine month period ended December 2020, the net profit was up by 180 per cent to ₹60 crore from ₹21 crore in the corresponding period of previous fiscal. Revenues totalled ₹657 crore from ₹568 crore, up 16 per cent, with EBITDA rising by 66 per cent to ₹112 crore from ₹67 crore.
"The festivals helped to create a positive sentiment among consumers across India despite Covid-19 during the last quarter," said Managing Director Anoop Bector.
"The company witnessed a strong volume uptick for its products across all categories, especially in the premium category. There has been significant increase in the price realisations too," he said.
The company witnessed double-digit growth in its biscuits segment backed by strong demand in both domestic as well as exports market. The branded breads and bakery products also saw an increased level of demand with the change in dietary habits and lifestyle behaviours during Covid-19.
Institutional bakery sales started picking up pace as restaurants opened after relaxation of Covid-19 restrictions. The institutional bakery sales are coming back to pre-Covid levels.
The company said it is able to procure raw materials and distribute its products smoothly through its multi-channel distribution network pan-India.
"We expect the growth momentum to continue and envisage volume pick up which will lead to improvement in operational efficiencies and margin uptick. We are continually working towards achieving sustainable earnings growth," said Bector.
Mrs Bectors Food Specialities Ltd 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.
It is the sole or preferred supplier to some of the largest quick service restaurant franchises, cloud kitchens and multiplexes. The company is a leading biscuits exporter to 64 countries across six continents and is expanding through modern trade and e-commerce.
