Britannia Industries
Market Cap
₹608.2b
Last Updated
2020/03/30 13:02 UTC
Data Sources
Company Financials +
Executive Summary
Britannia Industries Limited manufactures and sells various food products primarily in India.
Rewards
Risk Analysis
Snowflake Analysis
Excellent balance sheet with solid track record.
Similar Companies
Share Price & News
How has Britannia Industries's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BRITANNIA's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
15.7%
BRITANNIA
14.8%
IN Food
8.9%
IN Market
1 Year Return
-18.9%
BRITANNIA
-3.8%
IN Food
-30.6%
IN Market
Return vs Industry: BRITANNIA underperformed the Indian Food industry which returned -3.2% over the past year.
Return vs Market: BRITANNIA exceeded the Indian Market which returned -29.3% over the past year.
Shareholder returns
| BRITANNIA | Industry | Market | |
|---|---|---|---|
| 7 Day | 15.7% | 14.8% | 8.9% |
| 30 Day | -16.7% | -13.9% | -24.8% |
| 90 Day | -18.3% | -12.3% | -29.4% |
| 1 Year | -18.4%-18.9% | -2.4%-3.8% | -29.2%-30.6% |
| 3 Year | 48.1%45.9% | 43.8%39.4% | -17.0%-21.5% |
| 5 Year | 129.5%123.2% | 84.2%75.2% | -5.4%-10.4% |
Price Volatility Vs. Market
How volatile is Britannia Industries's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 days ago | Simply Wall St
Have Insiders Been Selling Britannia Industries Limited (NSE:BRITANNIA) Shares This Year?2 weeks ago | Simply Wall St
Britannia Industries (NSE:BRITANNIA) Shareholders Have Enjoyed An Impressive 159% Share Price Gain3 weeks ago | Simply Wall St
A Closer Look At Britannia Industries Limited's (NSE:BRITANNIA) Impressive ROEValuation
Is Britannia Industries undervalued compared to its fair value and its price relative to the market?
44.87x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: BRITANNIA (₹2473.75) is trading above our estimate of fair value (₹971.74)
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 (44.9x) compared to the Food industry average (10.3x).
PE vs Market: BRITANNIA is poor value based on its PE Ratio (44.9x) compared to the Indian market (9.2x).
Price to Earnings Growth Ratio
PEG Ratio: BRITANNIA is poor value based on its PEG Ratio (3.2x)
Price to Book Ratio
PB vs Industry: BRITANNIA is overvalued based on its PB Ratio (16.4x) compared to the IN Food industry average (0.7x).
Next Steps
Future Growth
How is Britannia Industries forecast to perform in the next 1 to 3 years based on estimates from 24 analysts?
14.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BRITANNIA's forecast earnings growth (14.1% per year) is above the savings rate (6.5%).
Earnings vs Market: BRITANNIA's earnings (14.1% per year) are forecast to grow slower than the Indian market (19.6% per year).
High Growth Earnings: BRITANNIA's earnings are forecast to grow, but not significantly.
Revenue vs Market: BRITANNIA's revenue (10.7% per year) is forecast to grow faster than the Indian market (8.9% per year).
High Growth Revenue: BRITANNIA's revenue (10.7% 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 high in 3 years time (29.1%)
Next Steps
Past Performance
How has Britannia Industries performed over the past 5 years?
12.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BRITANNIA has high quality earnings.
Growing Profit Margin: BRITANNIA's current net profit margins (11.5%) are higher than last year (10.5%).
Past Earnings Growth Analysis
Earnings Trend: BRITANNIA's earnings have grown by 12.8% per year over the past 5 years.
Accelerating Growth: BRITANNIA's earnings growth over the past year (17.7%) exceeds its 5-year average (12.8% per year).
Earnings vs Industry: BRITANNIA earnings growth over the past year (17.7%) underperformed the Food industry 20.6%.
Return on Equity
High ROE: BRITANNIA's Return on Equity (36%) is considered high.
Next Steps
Financial Health
How is Britannia Industries's financial position?
Financial Position Analysis
Short Term Liabilities: BRITANNIA's short term assets (₹37.7B) exceed its short term liabilities (₹24.4B).
Long Term Liabilities: BRITANNIA's short term assets (₹37.7B) exceed its long term liabilities (₹8.2B).
Debt to Equity History and Analysis
Debt Level: BRITANNIA's debt to equity ratio (37.1%) is considered satisfactory.
Reducing Debt: BRITANNIA's debt to equity ratio has increased from 11.6% to 37.1% over the past 5 years.
Debt Coverage: BRITANNIA's debt is well covered by operating cash flow (55.8%).
Interest Coverage: BRITANNIA earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
Inventory Level: BRITANNIA has a high level of physical assets or inventory.
Debt Coverage by Assets: BRITANNIA's debt is covered by short term assets (assets are 2.8x debt).
Next Steps
Dividend
What is Britannia Industries's current dividend yield, its reliability and sustainability?
0.61%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: BRITANNIA's dividend (0.61%) isn’t notable compared to the bottom 25% of dividend payers in the Indian market (0.95%).
High Dividend: BRITANNIA's dividend (0.61%) is low compared to the top 25% of dividend payers in the Indian market (4.16%).
Stability and Growth of Payments
Stable Dividend: BRITANNIA's dividend payments have been volatile 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 reasonably low payout ratio (27.2%), BRITANNIA's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BRITANNIA's dividends in 3 years are forecast to be well covered by earnings (38.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.4yrs
Average management tenure
CEO
Varun Berry (57yo)
5.92s
Tenure
₹91,002,555
Compensation
Mr. Varun Berry has been the Managing Director of Britannia Industries Limited since April 1, 2014 and served as its Chief Operating Officer since February 01, 2013. Mr. Berry served as Head of Indian Oper ...
CEO Compensation Analysis
Compensation vs Market: Varun's total compensation ($USD1.21M) is about average for companies of similar size in the Indian market ($USD1.10M).
Compensation vs Earnings: Varun's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD & Whole Time Director | 5.92yrs | ₹91.00m | 0.045% ₹274.7m | |
| Chief Financial Officer | 3.25yrs | no data | no data | |
| Company Secretary & Compliance Officer | 1.5yrs | no data | no data | |
| Head of Sales & Dairy Business | no data | no data | no data | |
| Head of Marketing | 1.17yrs | no data | no data | |
| Vice President of Human Resources | no data | no data | no data | |
| Head of Consumer Insight | no data | ₹813.64k | no data | |
| Head - Dairy Business | 0.50yr | ₹4.05m | no data | |
| Head of Supply Chain | 9.58yrs | no data | no data | |
| Head of Procurement | no data | no data | no data |
2.4yrs
Average Tenure
54yo
Average Age
Experienced Management: BRITANNIA's management team is considered experienced (2.4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD & Whole Time Director | 5.92yrs | ₹91.00m | 0.045% ₹274.7m | |
| Non-Executive Independent Director | 13.83yrs | ₹7.04m | no data | |
| Non-Executive Chairman | 26.5yrs | ₹53.56m | 0.0019% ₹11.4m | |
| Non-Executive Director | 26.5yrs | ₹9.30m | no data | |
| Non-Executive Director | 9.92yrs | ₹7.23m | 0.0051% ₹31.1m | |
| Non-Executive Independent Director | 2.58yrs | ₹7.08m | no data | |
| Non-Executive Independent Director | 23.75yrs | ₹4.03m | no data | |
| Non-Executive Director | 14.5yrs | ₹2.27m | no data | |
| Additional Non-Executive Independent Director | 3yrs | ₹2.51m | no data | |
| Non-Executive Independent Director | 10.92yrs | ₹5.69m | no data |
12.4yrs
Average Tenure
68.5yo
Average Age
Experienced Board: BRITANNIA's board of directors are seasoned and experienced ( 12.4 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: BRITANNIA insiders have only sold shares 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 company bio, 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: ₹608.204b
- Shares outstanding: 240.47m
- Website: https://www.britannia.co.in
Location
- Britannia Industries Limited
- The Business Precinct, Tower C
- 16th & 17th Floor
- Bengaluru
- Karnataka
- 560048
- India
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 500825 | BSE (Mumbai Stock Exchange) | Yes | Equity Shares | IN | INR | Nov 1998 |
| BRITANNIA | NSEI (National Stock Exchange of India) | Yes | Equity Shares | IN | INR | Nov 1998 |
Biography
Britannia Industries Limited manufactures and sells various food products primarily in India. The company offers bakery products, such as biscuit, bread, cake, and rusk; and dairy products, including milk, cheese, dahi, ghee, dairy whiteners, and butter. It 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 names. The company also exports its products to approximately 79 countries worldwide. Britannia Industries Limited was founded in 1892 and is based in Bengaluru, India.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/03/30 13:02 |
| End of Day Share Price | 2020/03/30 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/03/31 |
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.