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Bagrrys India Limited, also known as Bagrry's, is an Indian multinational company specializing in high-fiber breakfast cereals and health foods. Founded on October 23, 1986 and headquartered in Baddi, Himachal Pradesh, Bagrry's operates in the Fast-Moving Consumer Goods (FMCG) - Food Manufacturing industry. They offer a diverse range of breakfast cereals, health foods, and snacks including muesli, oats, corn flakes, bran products, organic quinoa and chia seeds, peanut butter, apple cider vinegar, and makhana (fox nuts).The company is the second-largest Indian brand of breakfast cereals after Kellogg's and has a significant presence in both domestic and international markets, supplying products to well-known brands like Nestlé, ITC, and KFC. While revenue figures haven't been disclosed for the most recent years, Bagrry's reported operating revenue between ₹100 crore and ₹500 crore for the financial year ending March 31, 2023. Despite a decrease in EBITDA, the company's book net worth increased, indicating positive financial stability.
| P&L Statement | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|
| Revenue | 154 | 155 | 140 | 172 |
| Cost of Material Consumed | 92 | 95 | 76 | 101 |
| Gross Margins | 40.26 | 38.71 | 45.71 | 41.28 |
| Change in Inventory | -0.4 | 0.2 | 0 | -0.5 |
| Employee Benefit Expenses | 10 | 11 | 10 | 12 |
| Other Expenses | 39 | 32 | 25 | 3613.4 |
| EBITDA | 16.8 | 29 | 23.5 | 8.7 |
| OPM | 10.84 | 20.71 | 13.66 | 0.8 |
| Other Income | 0.9 | 0.9 | 10 | 0.3 |
| Finance Cost | 0.4 | 0.09 | 0.18 | 0.8 |
| D&A | 0.7 | 0.7 | 0.68 | 12.6 |
| EBIT | 16.1 | 28.3 | 22.82 | 8.18 |
| EBIT Margins | 10.39 | 20.21 | 13.27 | 12 |
| PBT | 16 | 29 | 32 | 7.79 |
| PBT Margins | 10.32 | 20.71 | 18.6 | 3.4 |
| Tax (2021) | 4.5 | 7.6 | 7 | 8.6 |
| PAT | 11.5 | 21.4 | 25 | 5.58 |
| NPM | 7.42 | 15.29 | 14.53 | 107.5 |
| EPS | 107.5 | 151.32 | 281.58 | 328.95 |
| Financial Ratios | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Operating Profit Margin | - | 9.73% | 7.91% | Not Disclosed |
| Net Profit Margin | - | 6.06% | 5.45% | 8.93% |
| Earning Per Share (Diluted) | - | ₹90.66 | ₹109.39 | ₹225.55 |
| Assets | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|
| Fixed Assets | 7 | 6.4 | 5.7 | 12 |
| CWIP | 0.8 | 2.6 | 3.7 | 0 |
| Investments | 6 | 20 | 40 | 64 |
| Trade Receivables | 8 | 10 | 10 | 13 |
| Inventory | 8 | 7 | 8 | 8.2 |
| Other Assets | 9.2 | 5.5 | 13 | 6.8 |
| Total Assets | 39 | 51.5 | 80.4 | 104 |
| Liabilities | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|
| Share Capital | 0.8 | 0.76 | 0.76 | 0.76 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 22 | 33 | 54 | 80 |
| Borrowings | 2.1 | 0.8 | 1.09 | 4.2 |
| Trade Payables | 5.7 | 7.3 | 0.6 | 8 |
| Other Liabilities | 8.4 | 9.64 | 24 | 11.04 |
| Total Liabilities | 39 | 51.5 | 80.45 | 104 |
| Cash-Flow Statement | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|
| PBT | 12 | 16 | 29 | 32.4 |
| OPBWC | 12.7 | 16.1 | 28.8 | 32.15 |
| Change in Receivables | -3.4 | -2 | -0.2 | -2.4 |
| Change in Inventories | -0.9 | 0.2 | -0.9 | 0.18 |
| Change in Payables | 0.7 | 1.5 | -0.7 | 1.7 |
| Other Changes | -0.08 | 1.5 | 1.2 | -3.96 |
| Working Capital Change | -3.68 | 1.2 | -0.6 | -4.48 |
| Cash Generated From Operations | 9.02 | 17.3 | 28.2 | 27.67 |
| Tax | -2.3 | -2.7 | -6.6 | -6 |
| Cash Flow From Operations | 6.72 | 14.6 | 21.6 | 21.67 |
| Purchase of PPE | 1.2 | -5.6 | -1.3 | -1.4 |
| Sale of PPE | 0 | 4 | 0 | 0.2 |
| Cash Flow From Investment | -6.1 | -10.6 | -25.1 | -2.4 |
| Borrowing | -0.2 | -1.2 | 6.4 | -2.99 |
| Divided | 0 | 0 | 0 | 0 |
| Equity | 0 | -0.4 | 0 | 0 |
| Others From Financing | -0.3 | -0.4 | -0.09 | -0.18 |
| Cash Flow from Financing | -0.5 | -2 | 6.31 | -3.17 |
| Net Cash Generated | 0.12 | 2 | 2.81 | 16.1 |
| Cash at the Start | 0.06 | 0.05 | 1.8 | 1.8 |
| Cash at the End | 0.18 | 2.05 | 4.61 | 17.9 |
| Shareholding Pattern | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Shyam Bagri | 50.66% | 50.66% | - | - |
| Savita Bagri | 20.16% | 20.16% | - | - |
| Bagrrys Holding Limited | 13.40% | 13.40% | - | - |
| Public | 15.78% | 15.78% | - | - |
