Geojit Financial Services has issued a buy rating on Mrs Bectors Food Specialities Ltd. with a target price of Rs 290 in its research report dated September 10, 2026. According to the report, the brokerage values the stock at 44x on FY28 EPS (3-year average 44x) to arrive at this target price. The recommendation reflects the company's strong operational performance and growth prospects across multiple business segments.
The company delivered robust financial results with revenue growing 16% YoY, marking the strongest growth in seven quarters. As reported by Geojit Financial Services, biscuits segment (59% of sales) grew 15.7% YoY to Rs 325 crore, while bakery revenue grew 17.5% YoY to Rs 215 crore, aided by a return to double-digit growth in the QSR (B2B) business. EBITDA grew 23.8% YoY with margin improving 80 bps YoY to 13.1%, despite higher freight, fuel, and brand spending leading to a 24% YoY rise in other expenses.
Gross margin expanded by 160 bps YoY to 47.2%, aided by 2-2.5% consumer price hikes and Project IMPACT savings. According to the report, PAT increased 25.5% YoY aided by higher other income, demonstrating strong bottom-line growth. The company's diversified revenue streams across biscuits, bakery, and exports segments contributed to the broad-based growth rather than being driven by a single business line.
Exports delivered high double-digit, volume-led growth without restocking benefits, while the US business returned to growth despite June shipment disruptions, aided by the launch of a peanut butter cracker SKU at Walmart. As reported by Geojit Financial Services, quick commerce grew 58% YoY, and Naturbaked, the company's clean-label bakery brand, crossed a Rs 1 crore monthly revenue run rate. The Kolkata and Khopoli facilities are strengthening the company's presence in East India and supporting operational expansion.
