Meet Mr. Shiv Ratan Agarwal, the Bhujia King of India and the brain behind the 14,000 crore Bikaji snacks brand. Born into the iconic Haldiram family, Shiv Ratan took charge of the Bikaner division but decided he could do better. In 1993, after 13 years of planning, he launched Bikaji, now the third-largest ethnic snacks brand in India.
Bikaji, famous for its Bikaneri Bhujia, uses native moth dal flour from Bikaner for its unique crispiness, thanks to geographical indication rules. With an annual capacity of 270,000 metric tons, they produce over 300 snacks across six categories.
In FY20, Bikaji earned 1082 crore, later raising 1000 crore via IPO at a valuation of 7500 crores. Bhujia and namkeen contribute 70% of their revenue, sweets and papad 20%, and the remaining 10% from western and other snacks.
They dominate markets in Rajasthan, Assam, and Bihar, expanding to 25 states and 4 union territories by March 2023. Globally, they're present in 25 countries, boasting a 22% 5-year CAGR in revenue and a 26% 5-year CAGR in PAT.
The Indian snack market, valued at ₹751 billion in FY22, is projected to reach ₹1,227 billion by FY26. Bikaji, with a promising track record, appointed Amitabh Bachhan as its brand ambassador in 2019.
Bikaji isn't just a brand; it's a promise to share the true taste of India globally. This is the inspiring story of how Shiv Ratan Agarwal ventured into the unknown, leaving behind a legacy and creating a thriving brand.
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