Britannia Industries Ltd

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

Britannia Industries Ltd

₹ 4,695 -0.96%
18 Apr - 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 ₹ 1,13,088 Cr.
  • Current Price ₹ 4,695
  • High / Low ₹ 5,386 / 4,230
  • Stock P/E 52.4
  • Book Value ₹ 118
  • Dividend Yield 1.53 %
  • ROCE 48.6 %
  • ROE 66.6 %
  • Face Value ₹ 1.00
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Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 53.6%
  • Company has been maintaining a healthy dividend payout of 123%

Cons

  • Stock is trading at 39.7 times its book value
  • The company has delivered a poor sales growth of 10.5% 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
3,166 3,131 3,403 3,607 3,575 3,550 3,701 4,380 4,197 4,023 4,011 4,433 4,256
2,554 2,625 2,850 3,049 3,036 3,001 3,200 3,668 3,379 3,222 3,322 3,562 3,437
Operating Profit 612 505 554 558 539 550 501 712 818 801 689 871 820
OPM % 19% 16% 16% 15% 15% 15% 14% 16% 19% 20% 17% 20% 19%
83 64 61 54 54 54 56 53 428 60 57 52 48
Interest 32 24 34 39 37 34 42 54 38 35 53 53 31
Depreciation 49 53 49 50 50 51 51 52 58 65 71 72 78
Profit before tax 614 493 531 523 505 519 463 659 1,149 761 622 799 758
Tax % 26% 27% 27% 27% 27% 27% 28% 26% 19% 27% 27% 27% 27%
453 360 387 382 369 378 336 491 932 558 455 586 556
EPS in Rs 18.92 15.13 16.17 15.95 15.41 15.77 14.01 20.48 38.71 23.19 19.00 24.39 23.10
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
5,485 6,185 6,913 7,858 8,397 9,054 9,914 11,055 11,600 13,136 14,136 16,301 16,723
5,174 5,765 6,286 6,988 7,174 7,776 8,413 9,322 9,756 10,627 11,935 13,470 13,542
Operating Profit 311 421 627 870 1,224 1,278 1,501 1,732 1,843 2,509 2,201 2,831 3,181
OPM % 6% 7% 9% 11% 15% 14% 15% 16% 16% 19% 16% 17% 19%
59 52 34 228 115 151 166 206 263 313 222 597 217
Interest 42 41 8 4 5 5 8 9 77 111 144 169 172
Depreciation 62 73 83 144 113 119 142 162 185 198 201 226 286
Profit before tax 267 358 569 950 1,220 1,304 1,518 1,768 1,844 2,514 2,078 3,033 2,940
Tax % 25% 27% 30% 28% 32% 32% 34% 35% 24% 26% 27% 24%
200 260 395 689 825 885 1,004 1,155 1,394 1,851 1,516 2,316 2,155
EPS in Rs 8.35 10.85 16.48 28.71 34.36 36.85 41.83 48.23 58.33 77.38 63.31 96.39 89.68
Dividend Payout % 51% 39% 36% 28% 29% 30% 30% 31% 60% 204% 89% 75%
Compounded Sales Growth
10 Years: 10%
5 Years: 10%
3 Years: 12%
TTM: 6%
Compounded Profit Growth
10 Years: 24%
5 Years: 15%
3 Years: 13%
TTM: 18%
Stock Price CAGR
10 Years: 26%
5 Years: 9%
3 Years: 8%
1 Year: 10%
Return on Equity
10 Years: 43%
5 Years: 44%
3 Years: 54%
Last Year: 67%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 24 24 24 24 24 24 24 24 24 24 24 24 24
Reserves 385 534 774 1,221 2,068 2,672 3,382 4,229 4,379 3,524 2,534 3,510 2,824
604 380 150 145 131 125 201 156 1,538 2,122 2,481 2,997 2,778
829 946 1,159 1,403 1,271 1,288 1,581 1,829 1,889 2,331 2,487 2,819 3,123
Total Liabilities 1,842 1,883 2,107 2,793 3,494 4,109 5,188 6,238 7,830 8,000 7,527 9,351 8,749
624 737 848 844 950 1,160 1,346 1,688 1,878 1,793 1,753 2,655 2,756
CWIP 111 147 107 48 90 30 203 101 40 117 536 105 83
Investments 249 108 198 518 788 487 1,079 1,476 2,893 2,781 1,762 3,324 1,938
858 891 954 1,383 1,665 2,432 2,560 2,972 3,019 3,310 3,475 3,266 3,972
Total Assets 1,842 1,883 2,107 2,793 3,494 4,109 5,188 6,238 7,830 8,000 7,527 9,351 8,749

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
246 320 671 584 959 441 1,249 1,156 1,485 1,876 1,300 2,526
-65 28 -246 -450 -705 -150 -957 -852 -1,526 433 914 -1,507
-168 -378 -357 -181 -246 -295 -232 -353 58 -2,242 -2,246 -1,028
Net Cash Flow 13 -30 68 -47 8 -4 60 -49 17 66 -32 -9

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 8 7 6 6 7 7 11 13 10 7 9 7
Inventory Days 45 35 37 31 32 43 39 43 39 52 57 45
Days Payable 40 37 49 55 56 49 59 63 55 63 55 55
Cash Conversion Cycle 12 5 -6 -17 -16 1 -9 -7 -6 -3 10 -2
Working Capital Days -26 -15 -19 -17 -1 32 20 29 22 15 15 1
ROCE % 29% 39% 59% 66% 68% 52% 47% 44% 37% 45% 41% 49%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55% 50.55%
17.96% 18.40% 17.65% 17.59% 17.17% 16.65% 17.18% 18.46% 19.44% 21.29% 19.66% 18.99%
11.23% 11.18% 11.53% 11.53% 7.94% 8.74% 16.12% 15.08% 14.22% 12.46% 13.84% 14.84%
20.26% 19.87% 20.28% 20.34% 24.35% 24.06% 16.14% 15.90% 15.79% 15.69% 15.94% 15.62%
No. of Shareholders 2,91,2663,15,9762,84,3253,06,4653,29,9403,08,8052,86,8312,60,8362,60,2072,59,9492,84,8922,60,444

* 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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