Britannia Industries Ltd logo

Britannia Industries Ltd

BRITANNIA NSE

Key Fundamentals

LargecapPackaged FoodsFood Products
Market Cap
1.4L Cr
Volatility
Moderate
P/E Ratio
51.41
EBITDA
₹3,769 Cr
Return on Equity
49.4%
Debt to Equity
0.27
Book Value
₹212.01
EPS
₹91.68
52W High
₹6,336
52W Low
₹5,035

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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48 extracted metrics + investor summaries across FY14–FY26.

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

2
  • Company has a good return on equity (ROE) track record: 3 Years ROE 54.4%
  • Company has been maintaining a healthy dividend payout of 83.9%

Weaknesses

2
  • Stock is trading at 26.2 times its book value
  • The company has delivered a poor sales growth of 7.83% over past five years.

Growth Rate

Revenue Growth
6.64% ↗
Net Income Growth
16.49% ↗
Cash Flow Change
4.86% ↗
ROE
-0.62% ↗
ROCE
4.34% ↗
EBITDA Margin (Avg.)
3.51% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

Britannia Industries commands a market cap of ₹1,35,874 Cr at a PE of 51.9x and PB of 26.5x, delivering a 3-year ROE of 54% with compounded sales growth of 7% TTM. The company maintains an 83.9% dividend payout ratio while trading at premium valuations relative to its single-digit revenue growth.

Bull Case 8
  • Exceptional return on equity of 54% over the last 3 years, indicating highly efficient capital deployment
  • Strong 5-year ROE of 56% demonstrates consistent ability to generate superior returns for shareholders
  • Healthy dividend payout ratio of 83.9% provides consistent cash returns to investors
  • Compounded profit growth of 19% TTM significantly outpaces sales growth of 7% TTM, signaling margin expansion
  • 10-year compounded profit CAGR of 12% reflects long-term earnings compounding ability
  • 10-year stock CAGR of 13% shows sustained wealth creation over a full market cycle
  • Dividend yield of 1.6% is reasonable for an FMCG company and supported by high payout ratios
  • 10-year ROE of 46% underscores a structurally high-return business model over extended periods
Bear Case 7
  • Stock trades at 26.5x book value, making it one of the most expensive FMCG names on a PB basis
  • Compounded sales growth of only 7.83% over 5 years indicates limited top-line momentum
  • PE ratio of 51.9x is elevated and prices in significant future growth that current 7% TTM sales growth may not support
  • 5-year compounded profit CAGR of only 6% is modest relative to the premium valuation multiple
  • 3-year compounded sales CAGR of just 6% suggests slowing revenue trajectory compared to the 10-year average of 9%
  • 1-year stock CAGR of 5% and 3-year CAGR of 8% indicate muted recent price performance relative to broader market returns
  • Gap between TTM profit growth of 19% and TTM sales growth of 7% raises questions about sustainability of margin-led earnings expansion

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 1
  • Institutional opposition to Wadia reappointment Aug 7

    Institutional investors voted against the reappointment of Ness N. Wadia as director at the 107th AGM on Aug 7, 2026, signaling governance concerns despite shareholder approval.

Positives 4
  • Q1 net profit up 14% YoY Aug 6

    Britannia posted consolidated net profit of ₹593.38 crore in Q1FY27, up 14% YoY, with revenue rising to ₹4,999.97 crore from ₹4,622.22 crore a year ago.

  • International expansion from Q2 Aug 7

    Britannia announced plans to expand into international markets starting Q2, aiming to broaden its global footprint beyond domestic operations.

  • Senior leadership strengthened Aug 6

    Piyush Bhandari and Abhishek Gaurav elevated to VP roles effective Aug 1, 2026, while Siddharth Parakh joined as Head of Strategy & Business Development on Aug 3.

  • New independent director appointed Aug 6

    Sonny Iqbal appointed as Additional Non-Executive Independent Director effective Aug 8, 2026, for a five-year term pending shareholder approval via postal ballot.

Neutral 4
  • Investor meets scheduled mid-August Aug 11

    Britannia scheduled analyst and institutional investor meetings from Aug 14 to Aug 25, 2026, including virtual and in-person sessions.

  • ₹23.37 Cr block trade on NSE Aug 7

    Approximately 41,404 shares traded in a block deal at ₹5,645 per share on NSE, totaling ₹23.37 crore, likely institutional activity.

  • CFO Venkataraman re-appointed Aug 1

    Shareholders approved N. Venkataraman's re-appointment as Executive Director and CFO for four years effective Jul 30, 2026.

  • Final dividend approved at AGM Aug 7

    Shareholders approved the final dividend at the 107th AGM held on Aug 7, 2026.

TL;DR: Britannia delivered a solid Q1FY27 with 14% profit growth and 8% revenue expansion, reflecting healthy demand in the food products segment. The company is actively strengthening leadership and signaling international ambitions from Q2. The one governance overhang is institutional investor opposition to Ness Wadia's reappointment. Overall trend is positive with earnings momentum and strategic expansion plans, though execution on international growth remains to be seen.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
4,011
4,433
4,256
4,069
4,250
4,668
4,593
4,432
4,622
4,841
4,970
4,719
5,000
Expenses
3,322
3,562
3,437
3,286
3,497
3,888
3,750
3,632
3,870
3,889
3,992
3,885
4,162
Operating Profit
689
871
820
784
753
780
843
801
752
951
977
834
838
OPM %
17%
20%
19%
19%
18%
17%
18%
18%
16%
20%
20%
18%
17%
Other Income
57
52
48
57
31
46
62
63
57
52
59
55
61
Interest
53
53
31
26
29
35
45
31
26
35
33
19
23
Depreciation
71
72
78
80
74
76
82
81
82
85
85
85
80
PBT
622
799
758
735
681
715
778
752
701
884
919
785
797
Tax %
27%
27%
27%
27%
26%
26%
25%
26%
26%
26%
26%
13%
26%
Net Profit
455
586
556
537
505
532
582
559
520
655
682
680
593
EPS in Rs
19
24.39
23.1
22.35
20.99
22.06
24.15
23.25
21.62
27.17
28.23
28.16
24.55
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
7,858
8,397
9,054
9,914
11,055
11,600
13,136
14,136
16,301
16,769
17,943
19,152
19,529
Expenses
6,988
7,174
7,776
8,413
9,322
9,756
10,627
11,935
13,470
13,603
14,766
15,637
15,929
Operating Profit
870
1,224
1,278
1,501
1,732
1,843
2,509
2,201
2,831
3,167
3,176
3,514
3,600
OPM %
11%
15%
14%
15%
16%
16%
19%
16%
17%
19%
18%
18%
18%
Other Income
228
115
151
166
206
263
313
222
597
211
202
224
228
Interest
4
5
5
8
9
77
111
144
169
164
139
113
109
Depreciation
144
113
119
142
162
185
198
201
226
300
313
337
334
PBT
950
1,220
1,304
1,518
1,768
1,844
2,514
2,078
3,033
2,913
2,927
3,289
3,385
Tax %
28%
32%
32%
34%
35%
24%
26%
27%
24%
27%
26%
23%
—
Net Profit
689
825
885
1,004
1,155
1,394
1,851
1,516
2,316
2,134
2,178
2,537
2,610
EPS in Rs
28.71
34.36
36.85
41.83
48.23
58.33
77.38
63.31
96.39
88.84
90.45
105
108
Div. Payout %
28%
29%
30%
30%
31%
60%
204%
89%
75%
83%
83%
86%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
24
24
24
24
24
24
24
24
24
24
24
24
Reserves
1,221
2,068
2,672
3,382
4,229
4,379
3,524
2,534
3,510
3,917
4,332
5,082
Borrowings
145
131
125
201
156
1,538
2,107
2,481
2,997
2,065
1,247
1,380
Other Liabilities
1,403
1,271
1,288
1,581
1,829
1,889
2,345
2,487
2,819
3,065
3,235
3,243
Total Liabilities
2,793
3,494
4,109
5,188
6,238
7,830
8,000
7,527
9,351
9,072
8,837
9,730
Fixed Assets
844
950
1,160
1,346
1,688
1,878
1,793
1,753
2,655
2,771
2,904
2,850
CWIP
48
90
30
203
101
40
117
536
105
188
89
39
Investments
518
788
487
1,079
1,476
2,893
2,781
1,762
3,324
2,767
2,865
3,610
Other Assets
1,383
1,665
2,432
2,560
2,972
3,019
3,310
3,475
3,266
3,346
2,978
3,232
Total Assets
2,793
3,494
4,109
5,188
6,238
7,830
8,000
7,527
9,351
9,072
8,837
9,730
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
584
959
441
1,249
1,156
1,485
1,851
1,300
2,526
2,573
2,491
2,612
Investing
-450
-705
-150
-957
-852
-1,526
459
914
-1,507
485
69
-741
Financing
-181
-246
-295
-232
-353
58
-2,244
-2,246
-1,028
-2,839
-2,754
-1,783
Net Cash Flow
-47
8
-4
60
-49
17
66
-32
-9
219
-194
88
Free Cash Flow
631
710
89
828
756
1,241
1,611
752
1,893
2,085
2,120
2,408
CFO/OP
102
111
66
116
101
108
99
86
115
105
100
98
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
6
7
7
11
13
10
7
9
7
9
9
9
Inventory Days
31
32
43
39
43
39
52
57
45
45
43
44
Days Payable
55
56
49
59
63
55
63
55
55
63
60
62
Cash Conversion Cycle
-17
-16
1
-9
-7
-6
-4
10
-2
-9
-9
-9
Working Capital Days
-22
-5
28
17
27
-1
-22
-31
-31
-30
-23
-28
ROCE %
66%
68%
52%
47%
44%
37%
45%
41%
49%
49%
53%
56%

Shareholding Pattern

As of Jun 2026
Promoters 50.55%
DIIs 20.93%
FIIs 13.40%
Public 12.37%
Others 2.76%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
50.55%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
19.66%
0.00%
18.23%
17.41%
17.90%
16.46%
15.72%
15.58%
15.02%
14.88%
15.63%
13.40%
DIIs
11.13%
11.08%
11.42%
11.42%
7.82%
8.61%
8.60%
15.21%
14.35%
12.59%
13.98%
8.92%
15.77%
16.82%
16.37%
17.58%
18.26%
18.67%
19.39%
19.60%
18.87%
20.93%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
15.52%
15.35%
14.53%
14.62%
14.60%
14.28%
13.72%
13.24%
13.09%
13.02%
13.27%
12.77%
12.78%
12.52%
12.41%
12.65%
12.64%
12.46%
12.35%
12.26%
12.18%
12.37%
Others
22.79%
23.01%
23.49%
23.41%
27.03%
26.57%
27.14%
21.00%
22.01%
23.84%
2.54%
27.76%
2.67%
2.70%
2.76%
2.76%
2.82%
2.74%
2.69%
2.72%
2.77%
2.76%
No. of Shareholders
0
2,91,266
3,15,976
2,84,325
3,06,465
3,29,940
3,08,805
2,86,831
2,60,207
2,59,949
2,83,892
2,60,443
2,63,623
2,54,815
2,51,851
2,90,306
2,92,504
2,72,914
2,62,139
2,55,939
2,51,466
2,68,246

Documents

Frequently Asked Questions about Britannia Industries Ltd

What does Britannia Industries Ltd do?
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 househ...
Where is Britannia Industries Ltd (BRITANNIA) listed?
Britannia Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: BRITANNIA and BSE: 500825. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Britannia Industries Ltd belong to?
Britannia Industries Ltd operates in the Food Products sector within the Packaged Foods industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Britannia Industries Ltd?
Britannia Industries Ltd has a market capitalisation of approximately ₹135452.29 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Britannia Industries Ltd?
The Price-to-Earnings (PE) ratio of Britannia Industries Ltd is 51.41. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Britannia Industries Ltd?
Over the past 52 weeks, Britannia Industries Ltd has traded between a low of ₹5,035 and a high of ₹6,336. This range helps investors understand the stock's price volatility and recent trading levels.
Does Britannia Industries Ltd pay dividends?
Yes, Britannia Industries Ltd has a dividend yield of 1.61%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Britannia Industries Ltd?
Britannia Industries Ltd has a Return on Equity (ROE) of 49.40%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Britannia Industries Ltd on Tapetide?
On Tapetide, you can view Britannia Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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.

Website britannia.co.in
CEO Mr. Natarajan Venkataraman
Employees 5,792
Listed 1998-11-05
Face Value ₹ 1
Issued Size 24,08,68,296

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