Latest news with #DeepakAgarwal
Time Business News
25-07-2025
- Business
- Time Business News
Bikaji Enters Nepal Market Through Joint Venture with Chaudhary Group
New Delhi– Bikaji Foods International (Bikaji), one of India's leading ethnic snacks brands, has approved the execution of a Joint Venture cum Shareholders' Agreement with Nepal's prominent conglomerate, the Chaudhary Group (CG). The joint venture aims to manufacture, trade, and market Bikaji's product portfolio — including bhujia, namkeen, papad, packaged sweets, and snacks — within the Nepalese market. As per the agreement, the newly formed entity will be equally owned by Bikaji Foods International Ltd (BFIL) and CG Foods, with a 50:50 equity structure. Both partners will inject capital in one or more phases to establish a state-of-the-art manufacturing facility in Nepal, enabling fast access to authentic, premium-quality Indian snacks for local consumers. Deepak Agarwal, Managing Director of Bikaji Foods International, stated, 'This joint venture represents a significant milestone in Bikaji's global expansion strategy and reflects our strong belief in Nepal's potential as a key strategic market. With CG Group's deep local expertise and leadership position, we are confident in our ability to deliver high-quality, affordable products that resonate with Nepalese consumers. This partnership goes beyond business — it aims to empower communities, strengthen supply chains, and contribute positively to Nepal's food ecosystem.' Varun Chaudhary, Director of CG Foods Nepal, added, 'Our collaboration with Bikaji is a testament to our ongoing commitment to introducing world-class food innovation in Nepal, while simultaneously enhancing local capabilities. This partnership is not just about superior products — it is about driving long-term value for Nepal through job creation and supply chain development. We envision integrating the rich, diverse flavors of India into everyday snacking experiences for Nepalese consumers.' This joint venture marks a pivotal step in transforming Nepal's packaged food industry by bringing together two market leaders focused on quality, accessibility, and shared growth. TIME BUSINESS NEWS
Yahoo
24-07-2025
- Business
- Yahoo
Bikaji Foods forms joint venture with Chaudhary Group for Nepal expansion
India's Bikaji Foods International (BFIL) has entered a snacks joint venture in Nepal with local conglomerate Chaudhary Group (CG). "The joint venture marks Bikaji's commitment to strengthening its brand presence in the Nepalese food market and a significant milestone in its international growth strategy," the company said in a stock exchange filing today (24 July). BFIL added the partnership will focus on the manufacturing, trading and marketing of its snacks and sweets products in Nepal, including bhujia, namkeen and papads. The joint venture will be equally owned by BFIL and CG Foods in a partnership that 'unites Bikaji's legacy in ethnic snacks' with Chaudhary Group's 'extensive market expertise to elevate Nepal's overall FMCG landscape". Both parties will build a manufacturing facility in Nepal to ensure consumers get to 'experience premium and authentic ethnic snacks and sweets with minimal turnaround time'. Nepal's FMCG sector is now worth over a billion dollars and is seeing double-digit growth of around 20% annually, BFIL said, citing the Investment Board Nepal. Deepak Agarwal, the managing director of BFIL, said: 'This joint venture marks a pivotal milestone in Bikaji's global growth journey and promotes our strong conviction in Nepal's potential as a key strategic market. 'With CG Group's strong market leadership and deep local insights, we are confident in our ability to deliver high quality, affordable products that resonate with the consumers in Nepal.' Agarwal added: 'Beyond commerce, this partnership seeks to create enduring value - empowering communities, fortifying supply chains and enhancing Nepal's food ecosystem.' Varun Chaudhary, a director of CG Foods, said: 'This collaboration reaffirms our commitment to bringing world-class food innovation to Nepal, while expanding and strengthening our local capabilities. 'Our joint venture with Bikaji is not just about product excellence - it's about creating long-term value for Nepal, from generating employment to strengthening supply chains, this partnership has the potential to accelerate Nepal's food sector and set new benchmarks in quality and accessibility." BFIL has also been active in deal-making closer to home. The company took a majority stake last year in Hazelnut Factory Food Products, a local café and artisanal sweets business. It also took a 55% share of Indian peer Ariba Foods, which produces mixed vegetables, vegetarian and non-vegetarian burgers, paratha and roti breads. And in 2023, BFIL purchased a 49% stake in Indian snacks maker and start-up Bhujialalji. "Bikaji Foods forms joint venture with Chaudhary Group for Nepal expansion" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Standard
24-07-2025
- Business
- Business Standard
Chaudhary Group and Bikaji Foods Announce Strategic Joint Venture to Bring Authentic Indian Flavours to Nepal
VMPL Kathmandu [Nepal], July 24: In a major step toward elevating Nepal's snacking experience, Chaudhary Group (CG), Nepal's first multinational conglomerate, has entered into a strategic Joint Venture cum Shareholders Agreement with Bikaji Foods International Limited (BFIL), one of India's largest and most respected ethnic snack brands. This partnership marks a powerful union of two market leaders and aims to bring premium quality snacks, bhujia, namkeen, papad, and packaged sweets to the Nepalese market through a 50:50 joint venture. The collaboration includes a joint infusion of capital to establish a state-of-the-art manufacturing facility in Nepal, ensuring authentic products with minimal turnaround time and deeper local market integration. "This collaboration reaffirms our commitment to bringing world-class food innovation to Nepal while expanding and strengthening our local capabilities," said Varun Chaudhary, Managing Director, CG Corp Global. "Our joint venture with Bikaji is not just about product excellence -- it's about creating long-term value for Nepal from generating employment to strengthening supply chains. This partnership has the potential to accelerate Nepal's food sector and set new benchmarks in quality and accessibility. We envision making the rich, diverse flavours of India a seamless part of daily snacking in Nepal." "This joint venture marks a pivotal milestone in Bikaji's global growth journey and promotes our strong conviction in Nepal's potential as a key strategic market," said Deepak Agarwal, Managing Director, Bikaji Foods International. "With CG Group's strong market leadership and deep local insights, we are confident in our ability to deliver high-quality, affordable products that resonate with the consumers in Nepal. Beyond commerce, this partnership seeks to create enduring value -- empowering communities, fortifying supply chains, and enhancing Nepal's food ecosystem." Capturing the Momentum of Nepal's FMCG Growth The partnership arrives as Nepal's fast-moving consumer goods (FMCG) sector sees exponential growth. With a population of nearly 30 million and rising urban consumer demand, Nepal's FMCG sector is estimated to be growing at 20% annually, valued at over $1 billion, according to the Investment Board Nepal. By combining Bikaji's trusted brand and product excellence with CG's local expertise, nationwide distribution, and consumer insight, the new venture is poised to make a lasting impact. The Joint Venture Will: -Establish state-of-the-art manufacturing units in Nepal led by Chaudhary Group to produce and package authentic Bikaji snacks; -Create thousands of direct and indirect employment opportunities; -Strengthen local entrepreneurship and supply chains; -Introduce hygienic, affordable, and culturally aligned products to Nepalese consumers; -Position Nepal as a strong player in regional food exports. Shared Vision, Grounded in Legacy and Progress This venture goes beyond business. It reflects a shared commitment by both companies to foster innovation, empower communities, and contribute to Nepal's economic and industrial growth in a meaningful way.
Business Upturn
24-07-2025
- Business
- Business Upturn
Bikaji enters 50:50 joint venture with Chaudhary Group to expand operations in Nepal
By Aditya Bhagchandani Published on July 24, 2025, 12:06 IST Bikaji Foods International Limited has announced a strategic joint venture with Chaudhary Group (CG) of Nepal to expand its footprint in the neighbouring country's fast-growing FMCG market. As per the agreement, the new entity will be equally owned by Bikaji and CG Foods Nepal in a 50:50 structure. The venture aims to manufacture, market, and trade Bikaji's signature products—bhujia, namkeen, papad, and sweets—locally in Nepal. Both companies will infuse capital in phases to establish a state-of-the-art production facility in Nepal. This initiative aligns with Bikaji's international growth strategy while also addressing growing demand for authentic Indian ethnic snacks in Nepal. The facility is expected to reduce turnaround times, allowing Nepalese consumers quicker access to fresh, high-quality snacks. Deepak Agarwal, Managing Director of Bikaji, termed the venture a 'pivotal milestone' in their global journey and emphasized the significance of Nepal as a strategic market. Meanwhile, Varun Chaudhary, Director of CG Foods, highlighted the initiative's potential to strengthen local supply chains, generate employment, and contribute to Nepal's evolving food ecosystem. Nepal's FMCG sector is currently growing at approximately 20% annually, driven by a rising middle class, increased digital penetration, and changing consumer habits. The partnership is seen as a move to capitalize on this momentum while promoting Indian flavours and local empowerment in the Nepalese market. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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Business Standard
24-07-2025
- Business
- Business Standard
Bikaji Foods pops 3% after posting Q1 results; what should investors do?
Bikaji Foods International shares rose 3.4 per cent in trade, logging an intraday high at ₹815.25 per share on BSE. The stock was in demand after the company posted its Q1FY26 results. At 9:30 AM, Bikaji Foods share price was trading 2.79 per cent higher at ₹810 per share on BSE. In comparison, BSE Sensex was down 0.14 per cent at 82,612.63. The market capitalisation of the company stood at ₹20,192.76. CATCH STOCK MARKET LIVE UPDATES TODAY Bikaji Foods Q1 results Bikaji Foods reported its Q1FY26 results on Wednesday, July 23, 2025, after market hours. In the June quarter (Q1FY26), Bikaji Foods registered a 9 per cent rise in the consolidated net profit year-on-year (Y-o-Y) to ₹58.5 crore as compared to ₹57.8 crore. Its revenue from operations stood at ₹652.7 crore, up 14 per cent, from ₹571.6 crore a year ago. The Earnings before interest, tax, depreciation and amotisation (Ebitda) stood at ₹96.3 crore as compared to ₹91.6 crore a year ago. Ebitda margin was at 14.8 per cent, as against 16 per cent a year ago. Brokerages' view on Bikaji Foods post Q1 results Emkay Global Financial Services has maintained a 'Buy' call on Bikaji Foods, with a target price of ₹825 per share on the back of the company's continued progress toward the goal of becoming a 'Total Food Company'. Bikaji's growth narrative continued to swiftly improve under its professional management, which has a dual focus of strengthening core operations and enhancing fundamentals through strategic merger and acquisition (M&A) initiatives. The company is in the process of setting up a bakery unit in South India under its wholly owned subsidiary, Bikaji Bakes Pvt Ltd.,' the brokerage note read. Nuvama Institutional Equities also continued with 'Buy', but said that it will revist its estimates and target price post earnings call. Bikaji Foods management commentary 'The company remains confident about the business outlook and is committed to delivering long-term sustainable growth through innovation, market expansion, and deeper consumer engagement,' said Deepak Agarwal, managing director, Bikaji Foods International Limited. About Bikaji Foods International Bikaji Foods International is an ethnic snacks company in India with an international footprint, selling Indian snacks and sweets, and is the second fastest growing company in the Indian organised snacks market. Bikaji Foods' product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range, and cookies.
