Britannia Industries Ltd
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.
- Market Cap ₹ 1,30,960 Cr.
- Current Price ₹ 5,437
- High / Low ₹ 6,473 / 4,506
- Stock P/E 61.0
- Book Value ₹ 161
- Dividend Yield 1.36 %
- ROCE 56.8 %
- ROE 58.0 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 62.9%
- Company has been maintaining a healthy dividend payout of 83.6%
Cons
- Stock is trading at 34.0 times its book value
- The company has delivered a poor sales growth of 9.50% 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
Part of BSE 500 BSE Fast Moving Consumer Goods BSE 100 BSE 200 Nifty Next 50
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
6,307 | 7,176 | 7,732 | 8,414 | 9,304 | 10,482 | 10,987 | 12,379 | 13,372 | 15,618 | 16,186 | 17,296 | |
5,711 | 6,398 | 6,608 | 7,209 | 7,894 | 8,820 | 9,216 | 10,028 | 11,282 | 12,877 | 13,115 | 14,232 | |
Operating Profit | 597 | 778 | 1,124 | 1,206 | 1,410 | 1,662 | 1,771 | 2,351 | 2,089 | 2,742 | 3,071 | 3,064 |
OPM % | 9% | 11% | 15% | 14% | 15% | 16% | 16% | 19% | 16% | 18% | 19% | 18% |
15 | 224 | 115 | 143 | 156 | 191 | 354 | 293 | 359 | 448 | 207 | 226 | |
Interest | 5 | 1 | 1 | 1 | 1 | 2 | 65 | 98 | 133 | 155 | 151 | 137 |
Depreciation | 63 | 117 | 88 | 96 | 120 | 135 | 152 | 167 | 170 | 195 | 271 | 285 |
Profit before tax | 543 | 883 | 1,149 | 1,251 | 1,445 | 1,716 | 1,908 | 2,379 | 2,145 | 2,840 | 2,855 | 2,868 |
Tax % | 32% | 29% | 34% | 33% | 34% | 35% | 22% | 26% | 25% | 25% | 27% | 26% |
370 | 622 | 763 | 844 | 948 | 1,122 | 1,484 | 1,760 | 1,603 | 2,139 | 2,082 | 2,131 | |
EPS in Rs | 15.42 | 25.94 | 31.80 | 35.15 | 39.48 | 46.70 | 61.73 | 73.07 | 66.56 | 88.82 | 86.44 | 88.46 |
Dividend Payout % | 39% | 31% | 31% | 31% | 32% | 32% | 57% | 216% | 85% | 81% | 85% | 85% |
Compounded Sales Growth | |
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10 Years: | 9% |
5 Years: | 10% |
3 Years: | 9% |
TTM: | 7% |
Compounded Profit Growth | |
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10 Years: | 16% |
5 Years: | 8% |
3 Years: | 10% |
TTM: | 3% |
Stock Price CAGR | |
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10 Years: | 16% |
5 Years: | 12% |
3 Years: | 16% |
1 Year: | 4% |
Return on Equity | |
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10 Years: | 47% |
5 Years: | 58% |
3 Years: | 63% |
Last Year: | 58% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 |
Reserves | 834 | 1,215 | 1,992 | 2,558 | 3,211 | 4,015 | 4,251 | 3,295 | 2,378 | 3,157 | 3,503 | 3,862 |
0 | 1 | 1 | 1 | 10 | 1 | 1,203 | 1,798 | 2,179 | 2,664 | 2,040 | 1,218 | |
986 | 1,222 | 1,083 | 1,114 | 1,383 | 1,613 | 1,776 | 2,298 | 2,434 | 2,794 | 2,804 | 2,915 | |
Total Liabilities | 1,844 | 2,462 | 3,100 | 3,696 | 4,627 | 5,653 | 7,253 | 7,416 | 7,015 | 8,638 | 8,371 | 8,020 |
546 | 526 | 642 | 839 | 1,031 | 1,328 | 1,461 | 1,404 | 1,377 | 2,293 | 2,421 | 2,563 | |
CWIP | 97 | 48 | 74 | 30 | 200 | 65 | 39 | 112 | 535 | 104 | 187 | 82 |
Investments | 373 | 661 | 921 | 600 | 1,186 | 1,646 | 3,141 | 2,950 | 2,024 | 3,324 | 2,771 | 2,872 |
829 | 1,227 | 1,462 | 2,227 | 2,210 | 2,615 | 2,613 | 2,950 | 3,078 | 2,917 | 2,991 | 2,503 | |
Total Assets | 1,844 | 2,462 | 3,100 | 3,696 | 4,627 | 5,653 | 7,253 | 7,416 | 7,015 | 8,638 | 8,371 | 8,020 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
615 | 515 | 878 | 402 | 1,183 | 1,114 | 1,660 | 1,792 | 1,206 | 2,442 | 2,234 | 2,373 | |
-227 | -384 | -659 | -115 | -823 | -831 | -1,568 | 486 | 931 | -1,386 | 507 | 184 | |
-325 | -168 | -228 | -284 | -304 | -326 | -94 | -2,222 | -2,212 | -1,048 | -2,509 | -2,759 | |
Net Cash Flow | 62 | -37 | -9 | 3 | 56 | -44 | -3 | 56 | -75 | 8 | 232 | -203 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 3 | 4 | 5 | 5 | 9 | 12 | 8 | 6 | 7 | 7 | 8 | 8 |
Inventory Days | 35 | 29 | 30 | 42 | 38 | 42 | 35 | 49 | 54 | 41 | 42 | 39 |
Days Payable | 46 | 52 | 51 | 45 | 55 | 60 | 49 | 59 | 51 | 51 | 59 | 55 |
Cash Conversion Cycle | -8 | -19 | -15 | 3 | -8 | -6 | -6 | -4 | 9 | -3 | -9 | -8 |
Working Capital Days | -18 | -18 | -1 | 34 | 23 | 30 | 18 | 11 | 10 | -4 | -5 | 10 |
ROCE % | 65% | 68% | 71% | 55% | 50% | 47% | 41% | 47% | 47% | 53% | 53% | 57% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
16 May - Britannia Q4 FY25 earnings call: 6% revenue growth, 12.5% PAT margin, strong adjacencies, cost savings, optimistic outlook.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
12 May - Audio recording of Britannia's Q4 and FY25 financial results analyst call shared.
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Announcement under Regulation 30 (LODR)-Investor Presentation
12 May - Read with Clause 15 of Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015, please find enclosed the copy of …
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Announcement under Regulation 30 (LODR)-Newspaper Publication
9 May - Listing Regulations, 2015, please find enclosed copies of the newspaper advertisement published on 9th May, 2025 for the Audited Consolidated and Standalone Financial Results of …
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Appointment And Re-Appointment Of Auditors - Intimation Under Regulation 30 Of The SEBI(LODR Regulations), 2015
8 May - Re-appointment of Walker Chandiok & Co. and appointment of Parikh & Associates as auditors for five years.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
from nse
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Financial Year 2011
from bse
Concalls
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May 2025Transcript PPT
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Jan 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Jul 2021TranscriptPPT
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Oct 2020TranscriptPPT
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Jul 2020TranscriptPPT
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Nov 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Nov 2017Transcript PPT
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Aug 2017Transcript PPT
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May 2017TranscriptPPT
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Feb 2017Transcript PPT
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Nov 2016Transcript PPT
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Aug 2016TranscriptPPT
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May 2016TranscriptPPT
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)