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Britannia Industries Ltd
(BRITANNIA)
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Rating:73Outperform
Price Target:
₹6,149.00
▲(14.21% Upside)
Action:Upgraded
Date:08/09/26
The score is supported primarily by strong financial performance (low and improving leverage, high returns, solid margins), with moderately positive technical momentum adding support. The main constraint is valuation, as the high P/E implies premium expectations while margins and cash conversion have shown some pressure/variability.
Positive Factors
Brand & Distribution Strength
Britannia's strong brand equity and wide distribution network support repeat purchases across mass and premium biscuits. That sustained reach and shelf presence enables pricing power, product-mix upgrades and consistent volume-led revenue, a durable advantage for 2-6 months and beyond.
Negative Factors
Margin compression
A pronounced fall in gross margin suggests sustained input-cost inflation or pricing pressure that erodes core profitability. If margins remain compressed, the company's ability to fund marketing, innovation and maintain high ROE diminishes, posing a medium-term earnings risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Brand & Distribution Strength
Britannia's strong brand equity and wide distribution network support repeat purchases across mass and premium biscuits. That sustained reach and shelf presence enables pricing power, product-mix upgrades and consistent volume-led revenue, a durable advantage for 2-6 months and beyond.
Read all positive factors
Britannia Industries Ltd (BRITANNIA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.20T
Dividend Yield1.8%
Average Volume (3M)25.85K
Price to Earnings (P/E)46.2
Beta (1Y)0.48
Revenue Growth6.63%
EPS Growth18.70%
CountryIN
Employees5,682
SectorGeneral
Sector StrengthN/A
IndustryPackaged Foods
Share Statistics
EPS (TTM)108.11
Shares Outstanding240,868,300
10 Day Avg. Volume22,823
30 Day Avg. Volume25,854
Financial Highlights & Ratios
PEG Ratio3.17
Price to Book (P/B)25.58
Price to Sales (P/S)6.82
P/FCF Ratio53.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹5,950.00Price Target Upside10.52% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)114.92
Revenue Forecast (FY)₹211.73B
Britannia Industries Ltd Business Overview & Revenue Model
Company Description
Operating primarily within India, Britannia Industries Limited is a prominent producer and distributor of a diverse range of food items. Its extensive portfolio encompasses baked goods like cookies, loaves, pastries, and toasted bread slices; an a...
How the Company Makes Money
Britannia makes money primarily by selling branded packaged food products to trade channels (distributors, wholesalers, retailers, modern trade chains, and other resellers) and, where applicable, directly/indirectly to institutional and e-commerce...
Britannia Industries Ltd Financial Statement Overview
Summary
Income Statement
79
Positive
Balance Sheet
86
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 194.45B | 191.52B | 178.85B | 167.18B | 162.52B | 140.94B |
| Gross Profit | 73.19B | 68.58B | 71.83B | 71.38B | 65.67B | 52.57B |
| EBITDA | 38.32B | 37.38B | 31.78B | 31.59B | 28.21B | 21.92B |
| Net Income | 26.04B | 25.33B | 21.79B | 21.40B | 23.22B | 15.25B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 97.32B | 88.39B | 90.74B | 93.53B | 75.16B |
| Cash, Cash Equivalents and Short-Term Investments | 18.59B | 19.91B | 13.77B | 21.51B | 20.00B | 9.80B |
| Total Debt | 0.00 | 13.80B | 12.47B | 20.65B | 29.97B | 24.81B |
| Total Liabilities | -51.36B | 45.96B | 44.57B | 51.08B | 57.88B | 49.30B |
| Stockholders Equity | 51.36B | 51.07B | 43.56B | 39.42B | 35.34B | 25.58B |
Cash Flow | ||||||
| Free Cash Flow | 2.38B | 24.42B | 21.06B | 20.11B | 18.15B | 7.49B |
| Operating Cash Flow | 3.99B | 26.48B | 24.81B | 25.73B | 25.26B | 13.00B |
| Investing Cash Flow | 4.51B | -9.01B | 843.60M | 4.84B | -15.17B | 9.11B |
| Financing Cash Flow | -9.06B | -16.75B | -27.62B | -28.39B | -10.28B | -22.46B |
Britannia Industries Ltd Technical Analysis
Negative
5383.75
Price Trends
5307.54
Negative
5277.41
Negative
5526.60
Negative
Market Momentum
-105.86
Positive
37.39
Neutral
31.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BRITANNIA, the sentiment is Negative. The current price of 5383.75 is above the 20-day moving average (MA) of 5149.61, above the 50-day MA of 5307.54, and below the 200-day MA of 5526.60, indicating a bearish trend. The MACD of -105.86 indicates Positive momentum. The RSI at 37.39 is Neutral, neither overbought nor oversold. The STOCH value of 31.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BRITANNIA.
Britannia Industries Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹2.65T | 69.45 | ― | 0.88% | 19.30% | 22.64% | |
73 Outperform | ₹1.20T | 46.23 | ― | 1.80% | 6.63% | 18.70% | |
69 Neutral | ₹263.44B | 71.55 | ― | 0.88% | 17.32% | 25.12% | |
61 Neutral | ₹1.00T | 60.25 | ― | 1.00% | 15.60% | 22.76% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹33.22B | 25.47 | ― | 0.37% | 10.91% | 3.74% | |
54 Neutral | ₹67.88B | 46.09 | ― | 0.59% | 11.11% | 6.30% |
* General Sector Average
IN:BRITANNIA
Britannia Industries Ltd
5,016.00
-950.63
-15.93%
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Britannia Industries Ltd Corporate Events
Britannia Holds 107th AGM via Virtual Platform with Strong Shareholder Turnout
Aug 7, 2026
Britannia Industries Ltd held its 107th Annual General Meeting on August 7, 2026, via video conferencing and other audio-visual means, in compliance with the Companies Act, SEBI Listing Regulations, and relevant circulars. The deemed venue was the...
Britannia Shareholders Clear All Resolutions at Digitally Held AGM
Aug 7, 2026
Britannia Industries Ltd has reported to the stock exchanges that its 107th Annual General Meeting was held on August 7, 2026 via video conferencing in line with Indian corporate and securities regulations. The company provided remote and AGM e-vo...
Britannia Names Siddharth Parakh Head of Strategy and Business Development
Aug 2, 2026
Britannia Industries has appointed Siddharth Parakh as Head – Strategy Business Development, effective 3 August 2026, following a board approval based on the nomination and remuneration committee’s recommendation. The move places a se...
Britannia Shareholders Approve Reappointment of CFO via Postal Ballot
Jul 31, 2026
Britannia Industries Ltd has reported the results of a postal ballot conducted via remote e-voting to seek shareholder approval for an ordinary resolution concerning senior management. The process, carried out in line with the Companies Act and SE...
Britannia Shareholders Approve Four-Year Extension for CFO N. Venkataraman
Jul 31, 2026
Britannia Industries Ltd has secured shareholder approval via postal ballot for the re-appointment of Executive Director and Chief Financial Officer N. Venkataraman for a further four-year term, effective from July 30, 2026 to July 29, 2030. The d...
Britannia to Host Analyst Meet on Q1 FY2027 Results
Jul 29, 2026
Britannia Industries Ltd has announced that it will host an investors and analysts conference call on Friday, 7 August 2026 at 9:30 A.M. IST to discuss its financial results and operations for the quarter ended 30 June 2026. The company said the p...
Britannia sets August 7 virtual date for 107th AGM
Jul 12, 2026
Britannia Industries has notified exchanges that it has published newspaper advertisements announcing its 107th Annual General Meeting, in line with SEBI listing rules and Ministry of Corporate Affairs circulars. The AGM will be held on 7 August 2...
Britannia Elevates Shailesh Kumar to Vice President of Procurement
Jun 30, 2026
Britannia Industries has elevated Shailesh Kumar from General Manager – Procurement to Vice President – Procurement, effective April 1, 2026, following approval by the Board based on the Nomination and Remuneration Committee’s re...
Britannia Seeks Shareholder Nod for Re-Appointment of CFO via Postal Ballot
Jun 30, 2026
Britannia Industries has initiated a postal ballot process to seek shareholder approval for the re-appointment of N. Venkataraman as Whole-Time Director, Executive Director, and Chief Financial Officer for a four-year term starting July 30, 2026, ...
Britannia Schedules One-to-One Meet with Institutional Investor in Bengaluru
Jun 8, 2026
Britannia Industries has scheduled a one-to-one meeting with an institutional investor on June 12, 2026, at its executive office in Bengaluru, in line with disclosure requirements under SEBI’s Listing Regulations. The company has clarified t...
Britannia to Join J.P. Morgan India Consumer CEO Virtual Fireside Chat
May 24, 2026
Britannia Industries has informed the stock exchanges that its management will participate in the J.P. Morgan India Consumer CEO Fireside Chat Series via a virtual session scheduled for Friday, 29 May 2026, at 2:00 p.m. IST. The meeting is categor...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.