Britannia Industries
Market Cap
₹781.6b
Last Updated
2019/10/21 12:44 UTC
Data Sources
Company Financials +
Executive Summary
Britannia Industries Limited manufactures and sells various food products primarily in India.
Snowflake
Fundamentals
Flawless balance sheet with moderate growth potential.
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
Market Performance
7 Day Return
4.6%
BRITANNIA
4.9%
IN Food
3.8%
IN Market
1 Year Return
16.6%
BRITANNIA
17.9%
IN Food
6.0%
IN Market
Return vs Industry: BRITANNIA underperformed the Indian Food industry which returned 17.9% over the past year.
Return vs Market: BRITANNIA exceeded the Indian Market which returned 6% over the past year.
Shareholder returns
| BRITANNIA | Industry | Market | |
|---|---|---|---|
| 7 Day | 4.6% | 4.9% | 3.8% |
| 30 Day | 13.4% | 6.7% | 2.9% |
| 90 Day | 19.1% | 17.9% | 2.9% |
| 1 Year | 17.2%16.6% | 19.5%17.9% | 8.2%6.0% |
| 3 Year | 99.7%96.6% | 69.8%64.8% | 23.0%16.7% |
| 5 Year | 364.7%351.9% | 141.6%129.7% | 43.6%30.0% |
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
6 months ago | Simply Wall St
Is Britannia Industries Limited's (NSE:BRITANNIA) ROE Of 30% Impressive?9 months ago | Simply Wall St
Britannia Industries Limited (NSE:BRITANNIA) Earns Among The Best Returns In Its Industry10 months ago | Simply Wall St
Should We Be Delighted With Britannia Industries Limited's (NSE:BRITANNIA) ROE Of 30%?Valuation
Is Britannia Industries undervalued compared to its fair value and its price relative to the market?
67.83x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: BRITANNIA (₹3252.35) is trading above our estimate of fair value (₹948.49)
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 (67.8x) compared to the Food industry average (14.3x).
PE vs Market: BRITANNIA is poor value based on its PE Ratio (67.8x) compared to the Indian market (13.1x).
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 (18.4x) compared to the IN Food industry average (0.9x).
Next Steps
Future Growth
How is Britannia Industries forecast to perform in the next 1 to 3 years based on estimates from 20 analysts?
17.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BRITANNIA's forecast earnings growth (17.3% per year) is above the savings rate (7.6%).
Earnings vs Market: BRITANNIA's earnings (17.3% per year) are forecast to grow slower than the Indian market (18% per year).
High Growth Earnings: BRITANNIA's earnings are forecast to grow, but not significantly.
Revenue vs Market: BRITANNIA's revenue (11.6% per year) is forecast to grow faster than the Indian market (11.3% per year).
High Growth Revenue: BRITANNIA's revenue (11.6% 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 (28%)
Next Steps
Past Performance
How has Britannia Industries performed over the past 5 years?
14.1%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: BRITANNIA's earnings have grown by 14.1% per year over the past 5 years.
Accelerating Growth: BRITANNIA's earnings growth over the past year (10.1%) is below its 5-year average (14.1% per year).
Earnings vs Industry: BRITANNIA earnings growth over the past year (10.1%) underperformed the Food industry 15.6%.
Return on Equity
High ROE: BRITANNIA's Return on Equity (26.7%) is considered high.
Return on Assets
ROA vs Industry: BRITANNIA has a higher Return on Assets than the Food industry average last year.
Return on Capital Employed
ROCE Improving: BRITANNIA's Return on Capital Employed has declined over the past 3 years.
Next Steps
Financial Health
How is Britannia Industries's financial position?
Financial Position Analysis
Short Term Liabilities: BRITANNIA's short term assets (₹35.3B) exceeds its short term liabilities (₹18.5B)
Long Term Liabilities: BRITANNIA's short term assets (35.3B) exceeds its long term liabilities (1.0B)
Debt to Equity History and Analysis
Debt Level: BRITANNIA's debt to equity ratio (3.7%) is considered satisfactory
Reducing Debt: BRITANNIA's debt to equity ratio has reduced from 19.2% to 3.7% over the past 5 years.
Debt Coverage: BRITANNIA's debt is well covered by operating cash flow (735.7%).
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 22.447890x debt).
Next Steps
Dividend
What is Britannia Industries's current dividend yield, its reliability and sustainability?
0.46%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: BRITANNIA's dividend (0.46%) isn’t notable compared to the bottom 25% of dividend payers in the Indian market (0.6%).
High Dividend: BRITANNIA's dividend (0.46%) is low compared to the top 25% of dividend payers in the Indian market (2.42%).
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 (31.3%), 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 (35.6% payout ratio).
Next Steps
Management
What is the CEO of Britannia Industries's salary, the management and board of directors tenure and is there insider trading?
2.0yrs
Average management tenure
CEO
Varun Berry (57yo)
5.5yrs
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 ($USD1.28M) is about average for companies of similar size in the Indian market ($USD1.13M).
Compensation vs Earnings: Varun's compensation has been consistent with company performance over the past year.
Management Age and Tenure
2.0yrs
Average Tenure
54yo
Average Age
Experienced Management: BRITANNIA's management team is not considered experienced ( 2 years average tenure), which suggests a new team.
Board Age and Tenure
12.0yrs
Average Tenure
68.5yo
Average Age
Experienced Board: BRITANNIA's board of directors are seasoned and experienced ( 12 years average tenure).
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chief Executive Officer MD & Whole Time Director |
| Shares | 2,000 |
| Max Price | ₹3,165.23 |
| Entity | Individual |
| Role | Chief Executive Officer MD & Whole Time Director |
| Shares | 10,000 |
| Max Price | ₹3,190.03 |
| Entity | Individual |
| Role | Chief Executive Officer MD & Whole Time Director |
| Shares | 15,000 |
| Max Price | ₹3,133.97 |
| Entity | Individual |
| Role | Chief Executive Officer MD & Whole Time Director |
| Shares | 53,000 |
| Max Price | ₹3,012.50 |
Ownership Breakdown
Management Team
Varun Berry (57yo)
MD & Whole Time Director
- Tenure: 5.5yrs
- Compensation: ₹91.00m
Manjunath Desai (48yo)
Head of Consumer Insight
- Tenure: 0yrs
- Compensation: ₹813.64k
Abhishek Sinha (63yo)
Head - Dairy Business
- Tenure: 0.08yrs
- Compensation: ₹4.05m
N. Venkataraman (54yo)
Chief Financial Officer
- Tenure: 2.8yrs
Gunjan Shah (43yo)
Head of Sales & Dairy Business
- Tenure: 0yrs
Vinay Kushwaha
Head of Supply Chain
- Tenure: 9.2yrs
Manoj Balgi
Head of Procurement
- Tenure: 0yrs
Ritesh Rana
Vice President of Human Resources
- Tenure: 0yrs
T. Thulsidass
Company Secretary & Compliance Officer
- Tenure: 1.1yrs
Vinay Subramanyam
Head of Marketing
- Tenure: 0.8yrs
Board Members
Keki Dadiseth (74yo)
Non-Executive Independent Director
- Tenure: 13.4yrs
- Compensation: ₹7.04m
Nusli Wadia (75yo)
Non-Executive Chairman
- Tenure: 26.1yrs
- Compensation: ₹53.56m
Anil Hirjee (80yo)
Non-Executive Director
- Tenure: 26.1yrs
- Compensation: ₹9.30m
Ness Wadia (48yo)
Non-Executive Director
- Tenure: 9.5yrs
- Compensation: ₹7.23m
Keki Elavia (73yo)
Non-Executive Independent Director
- Tenure: 2.2yrs
- Compensation: ₹7.08m
Avijit Deb (71yo)
Non-Executive Independent Director
- Tenure: 23.3yrs
- Compensation: ₹4.03m
Jeh Wadia (46yo)
Non-Executive Director
- Tenure: 14.1yrs
- Compensation: ₹2.27m
Varun Berry (57yo)
MD & Whole Time Director
- Tenure: 5.5yrs
- Compensation: ₹91.00m
Ajay Shah (53yo)
Additional Non-Executive Independent Director
- Tenure: 2.7yrs
- Compensation: ₹2.51m
Ajai Puri (66yo)
Non-Executive Independent Director
- Tenure: 10.5yrs
- Compensation: ₹5.69m
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: ₹781.599b
- Shares outstanding: 240.32m
- 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, ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/21 12:44 |
| End of Day Share Price | 2019/10/18 00:00 |
| Earnings | 2019/06/30 |
| 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.