Mrs. Bectors Food Specialities reported an 85.4% jump in consolidated net profit to Rs 20.67 crore on 11.1% rise in net sales to Rs 225.75 crore in Q3 FY21 over Q3 FY20.
The company's profit before tax jumped 85.1% to Rs 27.69 crore in Q3 FY21 from Rs 14.96 crore in Q3 FY20. Current tax expense surged to Rs 7.19 crore in Q3 FY21 compared with Rs 3.45 crore in Q3 FY20.
Consolidated EBITDA jumped by 40% to Rs 39.7 crore in Q3 FY21 as against Rs 28.4 crore in Q3 FY20. EBITDA margin improved to 17.6% in Q3 FY21 from 14% in Q3 FY20.
Commenting on the Q3 results, Anoop Bector, MD said, During the last quarter, the festives have helped to create a positive sentiment amongst consumers across India despite CoVID-19. 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 realizations too. We have witnessed a double-digit growth in our biscuits segment backed by strong demand in both domestic as well as exports market. Our branded breads and bakery products have also seen an increased level of demand with the change in dietary habits and lifestyle behaviours during CoVID-19. Institutional bakery sales also started picking up pace as restaurants have opened after relaxation of CoVID-19 restrictions. The institutional bakery sales are coming back to pre-CoVID levels. The Company has able to procure raw materials and distribute its products smoothly through its strong multichannel distribution network PAN India.
He further added, The company continues to maintain its positive outlook for the rest of the financial year with long term focus on brand development. The company has a strong presence in North India which it intends to leverage to expand presence in the other regions of 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.
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.
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