Britannia Industries Ltd., incorporated in the year 1918, is a Large Cap company (having a market cap of Rs 82885.45 Crore) operating in FMCG sector.
AgenciesPromoters held 50.6 per cent stake in the company as of Sept 30, 2020, while FIIs held 16 per cent, DIIs 6.6 per cent and public and others 26.8 per cent.
Centrum Broking has given a buy rating to Britannia Industries with a target price of Rs 4273. The share price moved down by 0.25 per cent from its previous close of Rs 3458.65. The stock’s last traded price is Rs 3450.15.
Britannia Industries Ltd., incorporated in the year 1918, is a Large Cap company (having a market cap of Rs 82885.45 Crore) operating in FMCG sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 3354.35 Crore, down 0.89 % from last quarter Sales of Rs 3384.46 Crore and up 10.96 % from last year same quarter Sales of Rs 3022.91 Crore Company reported net profit after tax of Rs 495.09 Crore in latest quarter.
Investment Rationale The brokerage believes amid improving operating performance and strong execution capabilities provide healthy returns to long-term investors. Moreover, ICD exposure to group company (GoAir) is behind now. Considering H1FY21 performance and demand outlook the brokerage maintains estimates and retains Buy rating with DCF-based Target Rs.4,273 (implying 51x FY22E EPS). Risks to the call include rising input costs, abrupt competition and unsecured loans to promoter group companies.
Promoter/FII Holdings Promoters held 50.6 per cent stake in the company as of Sept 30, 2020, while FIIs held 16 per cent, DIIs 6.6 per cent and public and others 26.8 per cent.
Agencies
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