Prabhudas Lilladher: Mrs. Bectors Food IPO - Biscuits Scalability An Opportunity  

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Prabhudas Lilladher Report

Mrs. Bectors Food Specialties Ltd. has presence in the biscuits and bakery segment under the brand Creamica and English Oven.

Although the brand is well known in north India, it has just 4.5% market share in key states.

Given 11% share in outlets present suggest significant room to expand share by increasing distribution.

We note that the company has improved product quality over the years and has benefitted from being contract manufacturer of Oreo biscuits for Mondelez.

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