BECTORFOOD
Micro CapMrs. Bectors Food Specialities Limited
Consumer
Mrs. Bectors Food Specialities Limited manufactures and markets biscuits (Cremica, English Oven) and bakery products (English Oven, QSR supplier). It has a diverse portfolio across domestic, export, and institutional segments, with a focus on expanding manufacturing capabilities.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, management trust is acceptable, price trend argues for patience, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Average · 45/100Rev +9% YoY · PAT +3% YoY · margin expansion
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹486 Cr | +9.0% | -8.8% |
| EBITDA | ₹62 Cr | +10.7% | -8.8% |
| Operating margin | 13.0% | +100 bps | +0 bps |
| PAT | ₹35 Cr | +2.9% | -7.9% |
| PAT margin | 7.2% | -42 bps | +7 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Where growth can come from, and what can break the case
Q4 FY26 revenue grew 8.9% YoY to 485.9 Crs, with EBITDA up 11.1% YoY. Full-year FY26 revenue rose 9.1% YoY to 2,043.6 Crs, but PAT declined 1.6% YoY, indicating margin pressure despite growth.
While the company continues to expand capacity and grow its top line, full-year profitability has declined. Q4 FY26 showed sequential deceleration in revenue and EBITDA, raising concerns about demand momentum and sustained margin performance amidst significant capacity additions.
Revenue by Segment (FY26)
Latest issuer-disclosed distribution across 3 reported categories.
Bakery Segment Growth
Bakery segment revenue grew 14% YoY in FY26 and 9% YoY in Q4 FY26.
New Product Launches
Introduced NaturBaked Super Protein Bread and English Oven Jar Desserts.
QSR Supplier Status
Company is a preferred supplier to largest QSR franchises.
Rajpura Biscuit Lines
2 biscuit lines commissioned in Rajpura in FY23-24, with 2 more in H1 FY24-25.
Bhiwadi Plant Expansion
Bhiwadi plant commissioned in FY23-24, with a new line commissioned in Q4 FY26.
New Bakery Units
New bakery units commissioned in Kolkata and Khopoli in Q4 FY26.
Dhar Biscuit Plant
Dhar plant commissioned in Q1 FY25-26.
Strong GDP Growth
India's Real GDP Growth projected at 7.6% for FY26 by RBI.
Moderating Inflation
CPI Inflation showing signs of moderation, reaching 2.7% in March 2026.
Strategy Implementation
The company's ability to successfully implement its strategy is a factor that may cause actual results to differ.
Growth and Expansion Plans
Growth and expansion plans are subject to known and unknown risks, uncertainties, and other factors.
Regulatory Changes
Changes in regulatory norms applicable to the Company could materially affect performance.
Technological Changes
Technological changes are identified as a factor that may cause actual results to differ.
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
YoY comparison is crucial for understanding performance against seasonal trends in the consumer sector. QoQ comparison is also relevant to assess sequential momentum, especially given the recent capacity commissioning and potential demand fluctuations.
Gross Margin
Mixed. Improved YoY in Q4, but declined for the full year.Q4 FY26 Gross Profit % at 46.2% vs 44.3% in Q4 FY25. FY26 Gross Profit % at 45.2% vs 46.2% in FY25.
EBITDA Margin
Mixed. Slight improvement YoY in Q4, but declined for the full year.Q4 FY26 EBITDA % at 12.7% vs 12.5% in Q4 FY25. FY26 EBITDA % at 12.6% vs 13.4% in FY25.
Capacity Utilization - Biscuits
FY26 Average Capacity Utilization for Biscuits was 60%.
Capacity Utilization - Bakery
FY26 Average Capacity Utilization for Bakery was 75%.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue Growth | FY26 Revenue from Operations grew 9.1% YoY. | Sustained double-digit growth, especially in the Bakery segment, and improved sequential momentum. |
| Profitability Margins | FY26 GP% 45.2%, EBITDA% 12.6%, PAT% 6.9%. | Stabilization and improvement in gross and EBITDA margins, reversing the FY26 decline. |
| Capacity Utilization | FY26 average utilization at 60% for Biscuits and 75% for Bakery. | Ramp-up in utilization of newly commissioned capacities to drive operating leverage. |
| Debt to Equity | Debt to Equity at 0.1 as of Mar-26. | Maintenance of low debt levels despite ongoing capital expenditure for expansion. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
42NeutralSMA20 -52.2% / mo · near 52W low
Technical chart
BECTORFOODweekly · 6M-37.2%Technical trend read
Bullish setupTrend is constructive — long-term trend unclear. RSI 26.
- RSI(14) at 26 — oversold zone; bounce conditions.
- MACD above signal, histogram expanding — bullish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation, score drivers, trust methodology, financials, and peers
Use these sections after reviewing the decision summary, latest result, thesis, management accountability, and technical timing above.
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 52.5%.
- Balance sheet contributes 11/15 to the score.
Main drags
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
- Growth is weaker at 12/25; verify the latest quarterly trend.
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: -1 points.
Factor attribution
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 64th percentile of the scored universe and 63rd percentile within Consumer. Main check: cash conversion is weak at 55/100.
Healthy Trust Lite: Promoter pledge is zero. Key concern: ROCE trend is -3.2%.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Consumer: 63rd pctile, median 67 · Micro: 46th pctile, median 71
0 documents indexed, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸8/8 recent quarters had positive YoY revenue growth.
- ▸OPM spread across recent quarters is 3%.
Trust risks
- ▸ROCE trend is -3.2%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Intrinsic value
Fundamentals
Valuation
- P/E
- 36.80
- P/B
- 4.08
- EV/EBITDA
- 15.46
- Market Cap
- 5188.00Cr
Profitability
- ROE
- 11.60%
- ROCE
- 14.20%
- ROA
- 8.36%
- Dividend Y
- 0.71%
Growth (CAGR)
- Revenue 5Y
- 18.00%
- EPS 5Y
- 14.00%
- Revenue 3Y
- 14.00%
- EPS 3Y
- 16.00%
Balance Sheet
- Debt/Equity
- 0.15
- Interest Coverage
- 21.50×
- Altman Z
- 8.89
- Book Value
- 41.40
Cash Flow
- FCF Yield
- 0.10%
- FCF Positive Y
- 4/5
- OCF
- 218.00 Cr
- EPS TTM
- 4.59
Shareholding
- Promoter Hold
- 49.04%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 0%
Financial History
Updated 9/6/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.