Britannia Industries Ltd

AI

Britannia Industries Ltd

₹ 5,595 -0.40%
12 Aug 3:16 p.m.
About

Britannia Industries is one of Indias leading food companies with a 100 year legacy and annual revenues in excess of Rs. 16000 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)

  • Market Cap 1,34,766 Cr.
  • Current Price 5,595
  • High / Low 6,337 / 5,035
  • Stock P/E 51.0
  • Book Value 193
  • Dividend Yield 1.64 %
  • ROCE 61.4 %
  • ROE 60.1 %
  • Face Value 1.00

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 60.0%
  • Company has been maintaining a healthy dividend payout of 85.0%

Cons

  • Stock is trading at 29.0 times its book value
  • The company has delivered a poor sales growth of 8.30% 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
3,871 4,289 4,102 3,924 4,094 4,501 4,418 4,283 4,453 4,665 4,776 4,553 4,834
3,204 3,448 3,310 3,154 3,366 3,755 3,608 3,504 3,732 3,750 3,841 3,732 4,021
Operating Profit 667 841 793 770 728 746 810 779 721 914 935 822 813
OPM % 17% 20% 19% 20% 18% 17% 18% 18% 16% 20% 20% 18% 17%
52 53 47 55 43 52 60 72 54 110 93 61 59
Interest 48 48 29 26 29 34 44 30 26 34 33 18 22
Depreciation 63 64 71 73 67 69 75 74 75 78 76 77 71
Profit before tax 607 782 740 727 676 695 751 746 674 913 919 788 779
Tax % 27% 27% 27% 27% 26% 26% 26% 25% 26% 24% 25% 13% 26%
443 570 538 530 502 514 557 557 498 690 688 685 576
EPS in Rs 18.39 23.68 22.35 22.01 20.84 21.36 23.13 23.13 20.69 28.64 28.56 28.46 23.93
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
7,176 7,732 8,414 9,304 10,482 10,987 12,379 13,372 15,618 16,186 17,296 18,446 18,827
6,398 6,608 7,209 7,894 8,820 9,216 10,028 11,282 12,877 13,115 14,232 15,055 15,343
Operating Profit 778 1,124 1,206 1,410 1,662 1,771 2,351 2,089 2,742 3,071 3,064 3,391 3,483
OPM % 11% 15% 14% 15% 16% 16% 19% 16% 18% 19% 18% 18% 18%
224 115 143 156 191 354 293 359 448 207 226 318 324
Interest 1 1 1 1 2 65 98 133 155 151 137 111 107
Depreciation 117 88 96 120 135 152 167 170 195 271 285 305 301
Profit before tax 883 1,149 1,251 1,445 1,716 1,908 2,379 2,145 2,840 2,855 2,868 3,293 3,398
Tax % 29% 34% 33% 34% 35% 22% 26% 25% 25% 27% 26% 22%
622 763 844 948 1,122 1,484 1,760 1,603 2,139 2,082 2,131 2,562 2,640
EPS in Rs 25.94 31.80 35.15 39.48 46.70 61.73 73.07 66.56 88.82 86.44 88.46 106.35 109.59
Dividend Payout % 31% 31% 31% 32% 32% 57% 216% 85% 81% 85% 85% 85%
Compounded Sales Growth
10 Years: 9%
5 Years: 8%
3 Years: 6%
TTM: 7%
Compounded Profit Growth
10 Years: 13%
5 Years: 8%
3 Years: 9%
TTM: 24%
Stock Price CAGR
10 Years: 13%
5 Years: 9%
3 Years: 7%
1 Year: 5%
Return on Equity
10 Years: 49%
5 Years: 61%
3 Years: 60%
Last Year: 60%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 24 24 24 24 24 24 24 24 24 24 24 24
Reserves 1,215 1,992 2,558 3,211 4,015 4,251 3,295 2,378 3,157 3,503 3,862 4,617
1 1 1 10 1 1,203 1,798 2,179 2,664 2,040 1,218 1,348
1,222 1,083 1,114 1,383 1,613 1,776 2,298 2,434 2,794 2,804 2,915 2,951
Total Liabilities 2,462 3,100 3,696 4,627 5,653 7,253 7,416 7,015 8,638 8,371 8,020 8,940
526 642 839 1,031 1,328 1,461 1,404 1,377 2,293 2,421 2,563 2,476
CWIP 48 74 30 200 65 39 112 535 104 187 82 38
Investments 661 921 600 1,186 1,646 3,141 2,950 2,024 3,324 2,771 2,872 3,684
1,227 1,462 2,227 2,210 2,615 2,613 2,950 3,078 2,917 2,991 2,503 2,743
Total Assets 2,462 3,100 3,696 4,627 5,653 7,253 7,416 7,015 8,638 8,371 8,020 8,940

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
515 878 402 1,183 1,114 1,660 1,792 1,206 2,442 2,234 2,366 2,547
-384 -659 -115 -823 -831 -1,568 486 931 -1,386 508 183 -782
-168 -228 -284 -304 -326 -94 -2,222 -2,212 -1,048 -2,510 -2,751 -1,782
Net Cash Flow -37 -9 3 56 -44 -3 56 -75 8 232 -203 -17
Free Cash Flow 590 658 59 793 801 1,435 1,563 666 1,830 1,753 2,029 2,373
CFO/OP 104% 113% 65% 118% 102% 120% 102% 85% 115% 97% 100% 99%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 4 5 5 9 12 8 6 7 7 8 8 8
Inventory Days 29 30 42 38 42 35 49 54 41 42 39 40
Days Payable 52 51 45 55 60 49 59 51 51 59 55 59
Cash Conversion Cycle -19 -15 3 -8 -6 -6 -4 9 -3 -9 -8 -11
Working Capital Days -18 -1 34 22 30 2 -21 -30 -30 -30 -23 -29
ROCE % 68% 71% 55% 50% 47% 41% 47% 47% 53% 53% 57% 61%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Direct Reach (No. of Outlets)
Lakhs

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Rural Preferred Dealers (RPDs)
Thousands
Biscuit Market Share
%
Cost Efficiency Program (Indexed vs 2013-14)
x
E-commerce Salience
% of domestic sales
Consolidated Volume Growth
% YoY
Own Manufacturing Share
% of total capacity
Premium Products Salience (Bps increase since FY22)
Bps

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55%
19.66% 18.99% 18.23% 17.41% 17.91% 16.46% 15.72% 15.58% 15.02% 14.88% 15.63% 13.40%
13.84% 14.84% 15.63% 16.69% 16.37% 17.58% 18.26% 18.65% 19.39% 19.55% 18.82% 20.88%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.01% 0.03% 0.05% 0.05%
15.94% 15.62% 15.57% 15.36% 15.18% 15.41% 15.48% 15.20% 15.03% 14.97% 14.94% 15.13%
No. of Shareholders 2,84,8922,60,4442,63,6232,54,8152,51,8512,90,3062,92,5042,72,9142,62,1392,55,9392,51,4662,68,246

* 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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Documents

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