Sharekhan by BNP Paribas has buy call on Britannia Industries with a target price of Rs 5060. The current market price of Britannia Industries is Rs 4387.9.
Britannia Industries, incorporated in the year 1918, is a Large Cap company (having a market cap of Rs 105241.38 Crore) operating in FMCG sector.
Britannia Industries key Products/Revenue Segments include Food Products, Other Operating Revenue, Scrap, Royalty Income for the year ending 31-Mar-2022.
Financials
The company’s top management includes Mr.Nusli N Wadia, Mrs.Tanya Dubash, Mr.Keki Elavia, Dr.Y S P Thorat, Dr.Ajay Shah, Mr.Ness N Wadia, Dr.Ajai Puri, Mr.Keki Dadiseth, Mr.N Venkataraman, Mr.Avijit Deb, Mr.Varun Berry, Mr.Rajneet Singh Kohli. Company has B S R & Co. LLP as its auditors. As on 30-09-2022, the company has a total of 24 Crore shares outstanding.
Investment Rationale
Strong positioning in the biscuit segment, creating additional growth levers, and strong liquidity position make it a strong play in the large FMCG space. The company has entered into a JV agreement with Bel SA, France, to expand its cheese business (likely to grow by 5x over the next five years). With consistent market share gains, good traction to the new launches, deepening penetration in the rural market, and expected recovery of the rural market, the company will continue to achieve volume growth ahead of the industry’s growth in the core biscuit category.
As wheat prices continue to remain high, EBIDTA margin will remain subdued in the near term. However, the company has strong drivers in place to achieve margin expansion in the long run.
Promoter/FII Holdings
Promoters held 50.55 per cent stake in the company as of 30-Sep-2022, while FIIs owned 16.65 per cent, DIIs 8.67 per cent.
Britannia Industries, incorporated in the year 1918, is a Large Cap company (having a market cap of Rs 105241.38 Crore) operating in FMCG sector.
Britannia Industries key Products/Revenue Segments include Food Products, Other Operating Revenue, Scrap, Royalty Income for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 4432.85 Crore, up 18.01 % from last quarter Total Income of Rs 3756.46 Crore and up 21.09 % from last year same quarter Total Income of Rs 3660.77 Crore. Company has reported net profit after tax of Rs 490.52 Crore in latest quarter.
The company’s top management includes Mr.Nusli N Wadia, Mrs.Tanya Dubash, Mr.Keki Elavia, Dr.Y S P Thorat, Dr.Ajay Shah, Mr.Ness N Wadia, Dr.Ajai Puri, Mr.Keki Dadiseth, Mr.N Venkataraman, Mr.Avijit Deb, Mr.Varun Berry, Mr.Rajneet Singh Kohli. Company has B S R & Co. LLP as its auditors. As on 30-09-2022, the company has a total of 24 Crore shares outstanding.
Investment Rationale
Strong positioning in the biscuit segment, creating additional growth levers, and strong liquidity position make it a strong play in the large FMCG space. The company has entered into a JV agreement with Bel SA, France, to expand its cheese business (likely to grow by 5x over the next five years). With consistent market share gains, good traction to the new launches, deepening penetration in the rural market, and expected recovery of the rural market, the company will continue to achieve volume growth ahead of the industry’s growth in the core biscuit category.
As wheat prices continue to remain high, EBIDTA margin will remain subdued in the near term. However, the company has strong drivers in place to achieve margin expansion in the long run.
Promoter/FII Holdings
Promoters held 50.55 per cent stake in the company as of 30-Sep-2022, while FIIs owned 16.65 per cent, DIIs 8.67 per cent.
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