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MADE IN INDIA FOR THE WORLD ANNUAL REPORT 201920 padharo sa! Welcome to the world of Bikaji! Contents WHO WE ARE 4 6 8 10 Desi swad, Bikaner se Board of We don’t call modern andaz puri duniya tak Directors ourselves leaders. Our numbers say it all. WHERE WE COME FROM 14 15 If not made in Bikaner, Bikaji — it’s not bhujia A homegrown entrepreneur’s dream WHAT WE REPRESENT 18 22 26 28 Natural and Audacious and Determined and Robust and native unconventional instinctive inventive WHERE ARE WE GOING 34 35 36 37 Entry into the frozen Seeking talent that Gearing up to become Strategising for a foods market will take us further bigger and better namkeen future STATUTORY REPORTS 38 48 Director’s Report Annexures FINANCIAL STATEMENTS 66 116 Standalone Financial Statements Consolidated Financial Statements MADE IN INDIA FOR THE WORLD Nothings binds us together like food. At Bikaji Foods International Limited (Bikaji), we believe good food has the power to enhance lives. We want everyone to celebrate the joy of eating. Food that stems from our passion for namkeen and sweets, infused with aslee Indian flavours. Flavours that form the essence of the very spirit and culture of India. Flavours that have won the hearts of consumers in India and across the globe. Today, we are part of every Indian meal. Our delectable snacks embody the very spirit and culture of India. We have taken bold steps, transcended challenges and walked our own path. We have taken ethnic Indian snacks to the world stage and are competing with the best brands globally. We have made Bikaner home to the best bhujia in the world, while ourselves becoming its bona fide custodian. WHO WE ARE NOT your regular FMCG company We represent all that is traditionally Indian but are also very much connected to the needs of modern India. We do not emulate what everyone else is doing. We listen to our consumers and follow our instincts. We challenge the norm and take risks, with our feet firmly grounded in humility. We are confident. We are ambitious. And we love food. 2 Made In India For The World Company Overview Statutory Reports Financial Statements We are Bikaji Foods International Limited (Bikaji). Rooted in tradition, run on passion, driven by innovation, focused on the future. Annual Report 2019-20 Bikaji Foods International Ltd. 3 WHO WE ARE Desi swad, modern andaz From a small workshop in Bikaner to a globally recognised Indian ethnic snacks brand, we have come a long way. We are authentically Indian. Diverse and delectable. All about snacks and sweets. We are taking desi snacking habits across the globe. We are among the largest manufacturers of ethnic namkeen and sweets in India and among the leading players in the country’s rapidly growing packaged foods market. We started by introducing the Bikaneri bhujia to areas outside Rajasthan. Today, we have a growing domestic and global presence, with a well-diversified product basket that ranges from wholesome bites to indulgent treats, such as namkeen, sweets, papad, western snacks, chips and cookies. 250+ 4 3 30 550 VARIETIES OF MANUFACTURING FACTORY DEPOTS EXCLUSIVE BIKAJI DISTRIBUTORS SNACKS FACILITIES IN BIKANER ACROSS INDIA STORES IN INDIA IN INDIA Vision Mission To provide the best • Implement the best in technology, research and development. quality, hygiene, • Make brand ‘Bikaji’ reach international competitively priced domains. food products to • Sustain growth trajectory by fulfilling our customers stakeholders’ expectations. • Attract and attain customer loyalty with high-value products and services. 4 Made In India For The World Company Overview Statutory Reports Financial Statements Delicacies that delight Ethnic Savouries Ethnic Sweets New-age and Western Snacks Frozen Food Range Annual Report 2019-20 Bikaji Foods International Ltd. 5 WHO WE ARE Bikaner Se Puri Duniya Tak At a time when automated manufacturing of bhujia was unheard of, Shri Shivratan Agarwal travelled to Australia to gain technological know-how and returned home to revolutionise bhujia making by setting up the world’s first bhujia factory in 1987. Today, the humble bhujia, along with our other favourites, are available in top retail chains, such as Lulu and Walmart, across the world. With a powerful network of 550 distributors in India and 45 distributors overseas, we are proud to be making such a splash with our ethnic Indian offerings around the world. Employee Count Bichhwal & Karni Mumbai 2,220 122 FULL-TIME EMPLOYEES FULL-TIME EMPLOYEES Restaurants MALAD, MUMBAI PANCH PAKHADI, THANE 6 Made In India For The World Company Overview Statutory Reports Financial Statements Distribution Network India Overseas ANDHRA PRADESH KARNATAKA AUSTRALIA ITALY POLAND THAILAND ARUNACHAL PRADESH MADHYA PRADESH BAHRAIN JORDAN QATAR UAE ASSAM MAHARASHTRA CANADA LIBYA RUSSIA UGANDA BIHAR MANIPUR CONGO MAURITIUS SAUDI ARABIA UK CHHATTISGARH NAGALAND CYPRUS NEPAL SIERRA LEONE US DELHI PUNJAB DENMARK NEW ZEALAND FREETOWN ZAMBIA GOA RAJASTHAN GUINEA NIGERIA SOUTH AFRICA GUJARAT TAMIL NADU HONG KONG NORWAY SRI LANKA HARYANA UTTAR PRADESH ISRAEL OMAN SWEDEN JHARKHAND WEST BENGAL Retail partners across the globe Exhibitions we participate in Annual Report 2019-20 Bikaji Foods International Ltd. 7 WHO WE ARE Board of Directors Shivratan Agarwal Deepak Agarwal CHAIRMAN / MANAGING DIRECTOR WHOLE-TIME DIRECTOR Sushila Agarwal Shweta Agarwal WHOLE-TIME DIRECTOR WHOLE-TIME DIRECTOR 8 Made In India For The World Company Overview Statutory Reports Financial Statements Sangeeta Devi Jaisanseriya Kedar Chand Agarwal INDEPENDENT DIRECTOR INDEPENDENT DIRECTOR Sachin Kumar Bhartiya Vikrant Balbir Sibal NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR Annual Report 2019-20 Bikaji Foods International Ltd. 9 WHO WE ARE We don’t call ourselves leaders. Our numbers say it all. Leading positions 60 tonnes OF BHUJIA PRODUCED EVERYDAY (the weight of 12 adult FIRST TO INTRODUCE POUCH elephants) PACKAGING FOR BHUJIA Sales by product category 7% OTHERS 10% PAPAD 37% NAMKEEN 14% SWEETS 32% BHUJIA 10 Made In India For The World Company Overview Statutory Reports Financial Statements Profitable performance D 1,073.35 Cr D 94.28 Cr D 55.48 Cr REVENUE EBITDA PROFIT AFTER TAX Top products by sales BHUJIA KUCH-KUCH MOONG DAL 32% 12.57% 7.03% Global presence Empowering communities 32 50+ 1,000+ women COUNTRIES DISTRIBUTORS EMPLOYED EXPORT OUTSIDE TO MAKE PRESENCE INDIA BIKAJI PAPADS Annual Report 2019-20 Bikaji Foods International Ltd. 11 WHERE WE COME FROM BIKANER Namkeen aur meethe ka shehar Chocolates and cheese from Switzerland. Fish and chips from Europe. Tabasco sauce from North America. Pizza and lasagna from Italy. Sushi from Japan. Tacos from Mexico. Momos from Nepal and Tibet. Hamburgers from the Unites States. Gourmet stores across the globe are according to the pride of places to delicacies of countries other than India. We are here to change that. It is no secret that the versatility of Indian snacking is unmatched, with almost every region in the country having local, yet nationally popular, ready-to-eat and healthy snacks. Among these delicacies is the unassuming bhujia, which has brought Bikaner its gastronomic fame. 12 Made In India For The World Company Overview Statutory Reports Financial Statements A thriving, vibrant culture. Exquisite palaces and grand havelis. The famed and mouth-watering Bikaneri bhujia and sweets. The desert-bound princely state of Bikaner is a delight for connoisseurs of history and for food lovers alike. RAO BIKA, A RAJPUT RULER, ESTABLISHED THE CITY OF BIKANER IN 1486. When in Bikaner, it is impossible to ignore the innumerable shops that sell namkeen and sweets. While staple indulgences, such as kachoris and samosas are consumed in abundance, there is a clear winner in the Bikaneri bhujia – an inseparable part of every meal. Annual Report 2019-20 Bikaji Foods International Ltd. 13 WHERE WE COME FROM If not made in Bikaner, it’s not bhujia The famous Hindi poet Ashok Vajpeyi once remarked that one half of Bikaner’s population is occupied with making bhujia and the other with eating it. His observation holds true until today. Bhujia is believed to have first been made in the kitchen of Maharaj Dungarsingh Ji, the king of the erstwhile princely state of Bikaner, when he called for a special namkeen for his royal guests. The bhujia soon became a favourite snack among the royalty and gradually trickled down to the common masses of Bikaner. 14 Made In India For The World Company Overview Statutory Reports Financial Statements Bikaji A homegrown entrepreneur’s audacious dream For more than a century, the bhujia remained one of Rajasthan’s best kept secrets. Until one man, in the 1980s, set out to chase an unconventional dream of giving the authentic Bikaneri bhujia the global recognition it deserved. Shri Shivratan Agarwal, or ‘Fanna Babu’, as he is cult favourites, why should the same celebrity not be fondly called, took a step back from his family’s conferred on the bhujia that has found its way into flourishing bhujia-making business. He was inspired every table, every store, every corner of India? by a simple idea and a profound ambition – to give the It motivated Shri Shivratan Agarwal to choose the world a taste of India’s culinary magic. ubiquitous, humble, yet remarkably tasty bhujia. The country’s rich culinary heritage and time- Now, it was time to think of a name for his brand – honoured recipes are restricted either to exotic one that was not only easy to remember, but also restaurants or private dining rooms. The idea of resonated with the city itself. He used the first name establishing an ethnic Indian snacks brand began of Bika Rao – the founder of Bikaner – along with ‘Ji’ – with a pertinent thought – If the formula for a sugary an honorific used in India.

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