Shiv Ratan Agarwal, the Man Behind Bikaji Foods, Passes Away

Shiv Ratan Agarwal, the Founder, Chairman and Whole-Time Director of FMCG major Bikaji Foods International, passed away on April 23 at the age of 75. The company informed about his demise through stock filings. It however did not disclose the cause of his death.

Notably, as per news agency PTI, Agarwal complained of uneasiness and was rushed to a private hospital in Chennai at around 7:30 am, where he passed away. His wife had recently undergone a heart bypass surgery, and doctors had advised rest, due to which he had been staying in Chennai.

The Man Who Built Bikaji

Agarwal was the driving force behind Bikaji Foods from its inception. The company, in the regualtory filing, credited him with transforming what was once a traditional Bikaneri snacks business into an internationally recognised brand.

"He has been pivotal in steering the company towards success and growth," the company said in its filing, adding that Agarwal laid the very foundation of the Bikaji brand.

Under his leadership, Bikaji Foods grew from a regional ethnic snacks maker into a multi-product FMCG company with a presence across domestic and international markets. The company today operates across several categories, including bhujia, namkeen, packaged sweets and ready-to-eat offerings, and has built significant distribution reach both within India and in overseas markets with large Indian diaspora populations.

In line with regulatory requirements, Agarwal will cease to be part of the promoter and promoter group following his demise, the company stated in its filing.

From Bikaner to Bourses

Bikaji Foods made its stock market debut in November 2022, with shares listing at a premium of over 7% above the issue price of ₹300, a strong market reception that reflected investor confidence in the brand Agarwal had spent decades building.

The company competes with both regional and national players in the organised snacks and sweets category, holding its own against legacy brands and newer packaged food companies alike.

Bikaji Foods is part of India's fast-growing packaged foods sector, which has been on a steady expansion path driven by urban consumption, premiumisation and the increasing preference for branded products over unbranded alternatives.

Agarwal's contribution to this space goes beyond building a single company. He helped demonstrate that traditional Indian snack brands, rooted in regional identity and authentic recipes, could be scaled, modernised and taken to global markets without losing their core character.

"The company remains committed to building upon the strong foundation laid by Agarwal and will continue to uphold and strengthen the goodwill of the Bikaji brand by carrying forward his vision, principles, and entrepreneurial ethos. Guided by his legacy, the company will strive to sustain its growth trajectory and continue to lead a profitable and responsible business," the filing added.