Britannia Industries Ltd

Britannia Inds. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Britannia Industries Ltd

₹ 5,070 -3.03%
09 May - close price
britannia.co.in BSE: 500825 NSE : BRITANNIA
About

Britannia Industries is one of Indias leading food companies with a 100 year legacy and annual revenues in excess of Rs. 9000 Cr. Britannia is among the most trusted food brands, and manufactures Indias favorite brands like Good Day, Tiger, NutriChoice, Milk Bikis and Marie Gold which are household names in India. Britannias product portfolio includes Biscuits, Bread, Cakes, Rusk, and Dairy products including Cheese, Beverages, Milk and Yoghurt.

Key Points

Part of Wadia Group[1]
Britannia Industries belongs to the Wadia Group, a reputed Indian Business house who has presence in wide range of business segments like Airlines (Go Air), Realty ( Bombay Realty), Textiles ( Bombay Dyeing) and Plantations and other business (Bombay Burmah trading Corporation which is also the Ultimate holding company of Britannia Industries)

Website BSE NSE
  • Market Cap ₹ 1,22,123 Cr.
  • Current Price ₹ 5,070
  • High / Low ₹ 5,386 / 4,348
  • Stock P/E 58.6
  • Book Value ₹ 146
  • Dividend Yield 1.42 %
  • ROCE 52.8 %
  • ROE 62.1 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 62.8%
  • Company has been maintaining a healthy dividend payout of 83.7%

Cons

  • Stock is trading at 34.6 times its book value
  • The company has delivered a poor sales growth of 9.08% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: FMCG Industry: Food - Processing - MNC

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
2,953 3,236 3,425 3,374 3,336 3,521 4,191 4,011 3,895 3,871 4,289 4,102 3,924
2,465 2,712 2,894 2,861 2,814 3,052 3,504 3,221 3,100 3,204 3,448 3,310 3,154
Operating Profit 488 524 531 512 522 470 687 790 795 667 841 793 770
OPM % 17% 16% 16% 15% 16% 13% 16% 20% 20% 17% 20% 19% 20%
57 152 51 53 103 53 66 276 53 52 53 47 55
Interest 21 32 36 35 31 39 51 35 30 48 48 29 26
Depreciation 45 42 43 43 43 44 44 50 58 63 64 71 73
Profit before tax 479 603 503 489 551 441 658 981 761 607 782 740 727
Tax % 26% 23% 27% 27% 25% 27% 25% 22% 27% 27% 27% 27% 27%
353 466 367 357 413 322 493 767 558 443 570 538 530
EPS in Rs 14.67 19.34 15.25 14.80 17.16 13.35 20.45 31.84 23.17 18.39 23.68 22.35 22.01
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
5,615 6,307 7,176 7,732 8,414 9,304 10,482 10,987 12,379 13,372 15,618 16,186
5,244 5,711 6,398 6,608 7,209 7,894 8,820 9,216 10,028 11,282 12,877 13,115
Operating Profit 372 597 778 1,124 1,206 1,410 1,662 1,771 2,351 2,089 2,742 3,071
OPM % 7% 9% 11% 15% 14% 15% 16% 16% 19% 16% 18% 19%
55 15 224 115 143 156 191 354 293 359 448 207
Interest 38 5 1 1 1 1 2 65 98 133 155 151
Depreciation 57 63 117 88 96 120 135 152 167 170 195 271
Profit before tax 332 543 883 1,149 1,251 1,445 1,716 1,908 2,379 2,145 2,840 2,855
Tax % 30% 32% 29% 34% 33% 34% 35% 22% 26% 25% 25% 27%
234 370 622 763 844 948 1,122 1,484 1,760 1,603 2,139 2,082
EPS in Rs 9.78 15.42 25.94 31.80 35.15 39.48 46.70 61.73 73.07 66.56 88.82 86.44
Dividend Payout % 43% 39% 31% 31% 31% 32% 32% 57% 216% 85% 81% 85%
Compounded Sales Growth
10 Years: 10%
5 Years: 9%
3 Years: 9%
TTM: 4%
Compounded Profit Growth
10 Years: 19%
5 Years: 13%
3 Years: 6%
TTM: 6%
Stock Price CAGR
10 Years: 28%
5 Years: 14%
3 Years: 14%
1 Year: 9%
Return on Equity
10 Years: 46%
5 Years: 52%
3 Years: 63%
Last Year: 62%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 24 24 24 24 24 24 24 24 24 24 24 24
Reserves 620 834 1,215 1,992 2,558 3,211 4,015 4,251 3,295 2,378 3,157 3,503
215 0 1 1 1 10 1 1,203 1,798 2,179 2,664 2,040
824 986 1,222 1,083 1,114 1,383 1,613 1,776 2,298 2,434 2,794 2,804
Total Liabilities 1,683 1,844 2,462 3,100 3,696 4,627 5,653 7,253 7,416 7,015 8,638 8,371
452 546 526 642 839 1,031 1,328 1,461 1,404 1,377 2,293 2,421
CWIP 128 97 48 74 30 200 65 39 112 535 104 187
Investments 280 373 661 921 600 1,186 1,646 3,141 2,950 2,024 3,324 2,771
823 829 1,227 1,462 2,227 2,210 2,615 2,613 2,950 3,078 2,917 2,991
Total Assets 1,683 1,844 2,462 3,100 3,696 4,627 5,653 7,253 7,416 7,015 8,638 8,371

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
272 615 515 878 402 1,183 1,114 1,660 1,792 1,206 2,442 2,234
54 -227 -384 -659 -115 -823 -831 -1,568 486 931 -1,386 507
-359 -325 -168 -228 -284 -304 -326 -94 -2,222 -2,212 -1,048 -2,509
Net Cash Flow -33 62 -37 -9 3 56 -44 -3 56 -75 8 232

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 5 3 4 5 5 9 12 8 6 7 7 8
Inventory Days 34 35 29 30 42 38 42 35 49 54 41 42
Days Payable 35 46 52 51 45 55 60 49 59 51 51 59
Cash Conversion Cycle 5 -8 -19 -15 3 -8 -6 -6 -4 9 -3 -9
Working Capital Days -14 -18 -18 -1 34 23 30 18 11 10 -4 33
ROCE % 38% 65% 68% 71% 55% 50% 47% 41% 47% 47% 53%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55%
18.40% 17.65% 17.59% 17.17% 16.65% 17.18% 18.46% 19.44% 21.29% 19.66% 18.99% 18.23%
11.18% 11.53% 11.53% 7.94% 8.74% 16.12% 15.08% 14.22% 12.46% 13.84% 14.84% 15.63%
19.87% 20.28% 20.34% 24.35% 24.06% 16.14% 15.90% 15.79% 15.69% 15.94% 15.62% 15.57%
No. of Shareholders 3,15,9762,84,3253,06,4653,29,9403,08,8052,86,8312,60,8362,60,2072,59,9492,84,8922,60,4442,63,623

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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