Mrs Bectors Food Specialities Ltd(BECTORFOOD)

NSE: BECTORFOODBSE: 543253

₹ 189.5-4.20%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 5,817 crWebsite: www.cremica.inUpdated: 24 Oct 2026

About

Mrs Bectors Food Specialities Ltd manufactures and sells biscuits under the 'Cremica' brand and premium bakery products (breads, buns, kulchas, rusk, pizza bases, cakes) under the 'English Oven' brand. With FY26 revenue of ₹2,043.56 crore, it is one of the leading companies in the premium and mid-premium biscuits segment in North India and a leading premium bakery player nationally. Exports contributed 36% of total turnover in FY25, with biscuits shipped to 75 countries.^[1][2]

Business segments

Biscuit segment generated ₹1,235 cr in FY26 (+7% YoY vs ₹1,157 cr in FY25), covering consumer biscuits sold domestically and export biscuits sold to 75 countries.^[3]
Bakery segment generated ₹769 cr in FY26 (+14% YoY vs ₹675 cr in FY25), comprising English Oven retail (B2C) and buns/frozen bakery supplied to QSR and institutional customers (B2B).^[3]
Exports contributed ~35% of consolidated revenue in Q1 FY27.^[4]

Products and brands

The Cremica brand covers 384 biscuit SKUs - cookies, creams, crackers, digestives and glucose - as of FY25. The English Oven brand covers 150 bakery SKUs including breads, buns, kulchas, rusk, pizza bases and cakes.^[2]
The NaturBaked clean-label brand was launched in May 2025, targeting health-focused consumers; it crossed a monthly revenue run rate of ₹1 cr by Q1 FY27.^[2][4]
Premium and health biscuit SKUs scaled over FY26 include Golden Bites, Fruit & Nut, Pista Almond cookies, Zero Maida range and NaturBaked Super Protein Bread (Italian Sourdough, no palm oil, no artificial preservatives).^[5][3]
English Oven Jar Desserts and a peanut butter cracker (listed at Walmart in the US) were added as new SKUs in Q4 FY26 and Q1 FY27 respectively.^[3][4]
The company holds US FDA registration, BRC food certification, SMETA, FSSC 22000 and Halal certification for its biscuits manufacturing.^[2]

Manufacturing operations

Biscuits are manufactured at Phillaur, Rajpura and Tahliwal (Punjab) and at a new plant in Dhar (Madhya Pradesh), operationalised May 2025.^[2]
Bakery products are manufactured at Greater Noida, Bengaluru, Bhiwadi (Rajasthan), Khopoli (Maharashtra; subsidiary Bakebest Foods) and a new Kolkata unit commissioned in Q4 FY26.^[2][3]
Bakery capacity utilisation was 82% peak / 75% average in FY26.^[4][3]
Planned additional bakery capacity of 8,541 MT would take total bakery installed capacity from 1,07,467 MT to 1,16,008 MT.^[3]

Key operating numbers

Bakery segment revenue grew +17.5% YoY to ₹215 cr in Q1 FY27, 40% higher than Q1 FY25; domestic biscuits grew high-single-digit YoY in Q1 FY27 (price and volume).^[4]
Gross margin was 47.2% in Q1 FY27, +160 bps YoY; full-year FY26 gross margin was 45.2% vs 46.2% in FY25.^[4][3]
Quick commerce channel grew 58% YoY in Q1 FY27; in the English Oven brand specifically, quick commerce contributed 33 - 34% of revenues in Q3 FY26, having doubled over 12 months.^[4][5]
Frozen bakery is ~20% of B2B bakery business as of Q3 FY26; the company holds 80 - 85% share of bun supply to QSR chains.^[5]
New product revenue contribution (12-month rolling) was 2 - 3% in H1 FY26. A&P spend was ~4% of consumer business revenue in Q1 FY27.^[6][4]
Export business delivered high-double-digit volume-led growth in Q1 FY27; US market is ~23 - 25% of export revenues, roughly doubling its share vs Q1 FY26.^[4]

Customers and distribution

Biscuit distribution spans 24 states and 6 Union Territories via 12 depots, over 400 super-stockists, ~2,056 distributors and 10,168 Cremica Preferred Outlets (CPOs); AC Nielsen reach covers ~7.76 lakh retail outlets and 3.17 lakh exclusive outlets as of FY25.^[2]
Direct biscuit outlet reach was 5 - 5.5 lakh outlets as of Q2 FY26; bakery direct reach was ~40,000 outlets. General trade revenues were 50% from Upper North and 50% from Rest of India by Q1 FY27.^[6][4]
The Cremica brand contributed over 50% of export revenues as of Q2 FY26. No single customer accounted for 10% or more of revenue in FY25.^[6][2]
Biscuits are exported to 75 countries spanning Central America, Europe, North America, East and South Africa, Australasia, MENA and Asia.^[2]

Expansion and capex

Khopoli (Maharashtra) bakery plant was commissioned in March 2026 and is stabilising; it is designed to produce ~132,000 breads/day and ~1 million buns/day with a target asset turn of 2 - 2.5x in 2 - 3 years.^[4][5]
Kolkata bakery unit commissioned in Q4 FY26 is now servicing East markets; English Oven has expanded into Hyderabad and Kolkata geographies.^[4][5]
FY27 new capex is approximately ₹200 cr, with a Bangalore manufacturing facility upgrade pending final capacity quantum announcement.^[4]
Existing capacity (excluding Bangalore) can support ~₹3,400 - 3,500 cr of revenue at current price levels.^[4]
English Oven is targeting pan-India presence over the next four years (by FY30), with aggressive expansion into West (Mumbai, Pune) and South (Bengaluru, Chennai) markets.^[4]

Recent developments

Input cost inflation was ~1.5% YoY in Q1 FY27 due to West Asia conflict, fuel costs and minimum wage increases; Q2 FY27 inflation described as materially sharper with only partial price-increase coverage expected.^[4]
The company took ~2 - 2.5% price increases in consumer brands in Q1 FY27 and is running Project IMPACT targeting ~0.4 - 0.5% of revenue in cost savings in FY27.^[4]
A peanut butter cracker SKU was added at Walmart in the US in Q1 FY27, marking a new product listing with the US's largest retailer.^[4]
Capital work-in-progress fell from ₹237 cr (March 2025) to ₹89.9 cr (March 2026) as major plant projects were capitalised; operating cash flow rose 35% YoY to ₹217.8 cr in FY26.^[3]
DGFT export incentives were suspended from August 2025, removing a benefit equivalent to ~1% of revenue; exports resumed double-digit growth by Q1 FY27 despite continued shipping disruptions.^[6][4]

Market Cap

₹5,817 Cr

High / Low

₹279 / 165

Stock P/E

43.5

Price / Book

5.1

Book Value

₹41

EPS

₹4.6

No. of Shares

30.7 Cr

ROCE

14.2%

ROE

11.6%

OPM

9.6%

Debt / Equity

0.10

Sales

₹2,044 Cr

Net Profit

₹141 Cr

Promoter holding

49.0%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials