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BRIT

Britannia IndustriesNSEI:BRITANNIA Stock Report

Market Cap

₹888.8b

7D

-5.3%

1Y

6.3%

Updated

24 Oct, 2021

Data

Company Financials +
BRITANNIA fundamental analysis
Snowflake Score
Valuation0/6
Future Growth2/6
Past Performance3/6
Financial Health4/6
Dividends5/6

BRITANNIA Overview

Britannia Industries Limited manufactures and sells various food products primarily in India.

Price History & Performance

Summary of all time highs, changes and price drops for Britannia Industries
Historical stock prices
Current Share Price₹3,690.00
52 Week High₹3,317.30
52 Week Low₹4,153.00
Beta0.45
1 Month Change-8.73%
3 Month Change5.97%
1 Year Change6.35%
3 Year Change38.71%
5 Year Change122.58%
Change since IPO5,027.85%

Recent News & Updates

Sep 15
Here's Why Britannia Industries (NSE:BRITANNIA) Can Manage Its Debt Responsibly

Here's Why Britannia Industries (NSE:BRITANNIA) Can Manage Its Debt Responsibly

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Aug 30
Britannia Industries Limited's (NSE:BRITANNIA) CEO Compensation Looks Acceptable To Us And Here's Why

Britannia Industries Limited's (NSE:BRITANNIA) CEO Compensation Looks Acceptable To Us And Here's Why

Under the guidance of CEO Varun Berry, Britannia Industries Limited ( NSE:BRITANNIA ) has performed reasonably well...

Aug 16
Many Would Be Envious Of Britannia Industries' (NSE:BRITANNIA) Excellent Returns On Capital

Many Would Be Envious Of Britannia Industries' (NSE:BRITANNIA) Excellent Returns On Capital

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...

Shareholder Returns

BRITANNIAIN FoodIN Market
7D-5.3%-4.4%-3.1%
1Y6.3%34.0%61.0%

Return vs Industry: BRITANNIA underperformed the Indian Food industry which returned 34% over the past year.

Return vs Market: BRITANNIA underperformed the Indian Market which returned 61% over the past year.

Price Volatility

Is BRITANNIA's price volatile compared to industry and market?
BRITANNIA volatility
BRITANNIA Beta0.45
Industry Beta0.67
Market Beta1

Stable Share Price: BRITANNIA is less volatile than 75% of Indian stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: BRITANNIA's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18924,499Varun Berryhttps://britannia.co.in

Britannia Industries Limited manufactures and sells various food products primarily in India. It offers bakery products, such as biscuits, bread, cakes, and rusk; dairy products, including milk-based beverages, cheese, dahi, and dairy whiteners; and cream wafers, center filled croissants, and salted snacks. The company primarily offers its biscuits under the Good Day, Crackers, NutriChoice, Marie Gold, Tiger, Milk Bikis, Jim Jam + Treat, Bourbon, Little Hearts, Pure Magic, and Nice Time brand names; and cakes under the Gobbles, Tiffin Fun, Nut & Raisin, Muffills, Layerz, Rollyo, and fudgeit brand names, as well as center filled croissants under the Treat brand.

Britannia Industries Fundamentals Summary

How do Britannia Industries's earnings and revenue compare to its market cap?
BRITANNIA fundamental statistics
Market Cap₹888.80b
Earnings (TTM)₹17.08b
Revenue (TTM)₹131.19b

52.0x

P/E Ratio

6.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BRITANNIA income statement (TTM)
Revenue₹131.19b
Cost of Revenue₹77.17b
Gross Profit₹54.02b
Expenses₹36.94b
Earnings₹17.08b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)70.90
Gross Margin41.18%
Net Profit Margin13.02%
Debt/Equity Ratio58.2%

How did BRITANNIA perform over the long term?

See historical performance and comparison

Dividends

3.9%

Current Dividend Yield

204%

Payout Ratio

Valuation

Is Britannia Industries undervalued compared to its fair value and its price relative to the market?

52.05x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BRITANNIA (₹3690) is trading above our estimate of fair value (₹1685.16)

Significantly Below Fair Value: BRITANNIA is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BRITANNIA is poor value based on its PE Ratio (52x) compared to the Indian Food industry average (16.9x).

PE vs Market: BRITANNIA is poor value based on its PE Ratio (52x) compared to the Indian market (21.3x).


Price to Earnings Growth Ratio

PEG Ratio: BRITANNIA is poor value based on its PEG Ratio (3.9x)


Price to Book Ratio

PB vs Industry: BRITANNIA is overvalued based on its PB Ratio (25.1x) compared to the IN Food industry average (1.7x).


Future Growth

How is Britannia Industries forecast to perform in the next 1 to 3 years based on estimates from 31 analysts?

13.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BRITANNIA's forecast earnings growth (13.4% per year) is above the savings rate (6.7%).

Earnings vs Market: BRITANNIA's earnings (13.4% per year) are forecast to grow slower than the Indian market (19.3% per year).

High Growth Earnings: BRITANNIA's earnings are forecast to grow, but not significantly.

Revenue vs Market: BRITANNIA's revenue (9.9% per year) is forecast to grow slower than the Indian market (13% per year).

High Growth Revenue: BRITANNIA's revenue (9.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BRITANNIA's Return on Equity is forecast to be very high in 3 years time (50%).


Past Performance

How has Britannia Industries performed over the past 5 years?

18.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BRITANNIA has high quality earnings.

Growing Profit Margin: BRITANNIA's current net profit margins (13%) are lower than last year (13.8%).


Past Earnings Growth Analysis

Earnings Trend: BRITANNIA's earnings have grown by 18% per year over the past 5 years.

Accelerating Growth: BRITANNIA's earnings growth over the past year (0.6%) is below its 5-year average (18% per year).

Earnings vs Industry: BRITANNIA earnings growth over the past year (0.6%) underperformed the Food industry 14.5%.


Return on Equity

High ROE: BRITANNIA's Return on Equity (47.3%) is considered outstanding.


Financial Health

How is Britannia Industries's financial position?


Financial Position Analysis

Short Term Liabilities: BRITANNIA's short term assets (₹44.2B) exceed its short term liabilities (₹36.1B).

Long Term Liabilities: BRITANNIA's short term assets (₹44.2B) exceed its long term liabilities (₹8.1B).


Debt to Equity History and Analysis

Debt Level: BRITANNIA's debt to equity ratio (58.2%) is considered high.

Reducing Debt: BRITANNIA's debt to equity ratio has increased from 8.1% to 58.2% over the past 5 years.

Debt Coverage: BRITANNIA's debt is well covered by operating cash flow (88.7%).

Interest Coverage: BRITANNIA's interest payments on its debt are well covered by EBIT (91.3x coverage).


Balance Sheet


Dividend

What is Britannia Industries's current dividend yield, its reliability and sustainability?

3.93%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BRITANNIA's dividend (3.93%) is higher than the bottom 25% of dividend payers in the Indian market (0.34%).

High Dividend: BRITANNIA's dividend (3.93%) is in the top 25% of dividend payers in the Indian market (1.41%)


Stability and Growth of Payments

Stable Dividend: BRITANNIA's dividends per share have been stable in the past 10 years.

Growing Dividend: BRITANNIA's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (204.5%), BRITANNIA's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BRITANNIA's dividends in 3 years are forecast to be covered by earnings (62.1% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.9yrs

Average management tenure


CEO

Varun Berry (60 yo)

7.5yrs

Tenure

₹105,198,909

Compensation

Mr. Varun Berry is a Director at Go Airlines (India) Ltd. since September 25, 2017. He has been the Managing Director of Britannia Industries Limited since April 1, 2014 and served as its Chief Operating O...


CEO Compensation Analysis

Compensation vs Market: Varun's total compensation ($USD1.40M) is about average for companies of similar size in the Indian market ($USD1.15M).

Compensation vs Earnings: Varun's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: BRITANNIA's management team is considered experienced (2.9 years average tenure).


Board Members

Experienced Board: BRITANNIA's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Britannia Industries Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Britannia Industries Limited
  • Ticker: BRITANNIA
  • Exchange: NSEI
  • Founded: 1892
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Market Cap: ₹888.804b
  • Shares outstanding: 240.87m
  • Website: https://britannia.co.in

Number of Employees


Location

  • Britannia Industries Limited
  • The Business Precinct, Tower C
  • 16th & 17th Floor
  • Bengaluru
  • Karnataka
  • 560048
  • India

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/24 12:06
End of Day Share Price2021/10/22 00:00
Earnings2021/06/30
Annual Earnings2021/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.