Shiv Ratan Agarwal, the man who built Bikaji Foods, passes away

RAJASTHAN: Shiv Ratan Agarwal, the founder, promoter, chairman and whole-time director of Bikaji Foods International, passed away on Thursday, April 23. His death was described by the company as an irreparable loss.

Agarwal built Bikaji from the ground up, transforming what was a traditional Bikaneri snacks business into an internationally recognised packaged foods brand. His formula was deceptively simple: keep the authentic taste, add modern business muscle. It worked. The company grew into a nationally and globally present force, listed on both the BSE and the National Stock Exchange.

The board of directors, management and employees of the company conveyed their deepest condolences to his family, calling his passing unexpected.

Bikaji was unequivocal about its intentions going forward. “The company remains committed to building upon the strong foundation laid by him and will continue to uphold and strengthen the goodwill of the Bikaji brand by carrying forward his vision, principles, and entrepreneurial ethos,” it said in a regulatory filing to the stock exchanges. The company added that it would strive to sustain its growth trajectory while leading a profitable and responsible business.

On the regulatory side, Bikaji informed the exchanges that Agarwal would cease to be classified under the promoter and promoter group category, in accordance with Regulation 31A(6)(c) of the listing regulations, following his demise.

He turned a snack into a stock market story. The question now is who carries the recipe forward.