7350% Dividend Declared: FMCG Giant Declares 3.6% Fall In Net Profit Post Market Hours

Large cap FMCG company Britannia Industries on May 3 declared a decline of 3.6% year-on-year (YoY) in its consolidated net profit for the quarter ended March 31, 2024 to Rs 538.28 crore as against Rs 558.66 crore announced in the corresponding period of last year. The Board of Directors of Britannia Industries recommended a final dividend of 73.5 per equity share of Re 1 each.

Last trading price of Britannia Industries share on BSE is Rs 4745.15 per share with intraday fall of 0.32%. Britannia Industries Ltd shares tanked 10.73% year-to-date and soared 45% in last 2-years. General Insurance Corporation of India has 1.02% stake in Britannia Industries with 2,467,151 shares of the company. More details below:

Britannia Industries Declares Dividend: As per the regulatory filing of the company dated May 3, 2024, "recommended the final dividend for the financial year ended 31st March, 2024 @ 7350% i.e., Rs. 73.5/- (Rupees Seventy Three and Fifty Paise Only) per equity share of Re. 1 /- each to be declared at the 105 Annual General Meeting of the Company. Final Dividend if declared, will be paid within the timelines prescribed under the law."

Britannia Industries Quarterly Results: Britannia's Consolidated Sales for the Quarter ended 31st March 2024 stands at Rs 4,014 Crores, growing 3.1% over last year and Operating Profit stands at Rs 708 Crs (17.6% of Sales). For the year ended 31st March 2024, Consolidated Revenue stands at Rs 16,546 Crores growing 3.5% over previous year and Operating profit stands at Rs 2,869 Crores growing 10.1% (17.3% of Sales).

Commenting on the performance, Mr. Varun Berry, Vice Chairman & Managing Director, said: "In a tepid consumption scenario, our performance this year signifies resilience and competitiveness. Over the past 24 months, we have achieved a strong 19% growth in revenue, accompanied by a notable 43% increase in operating profit. Our market share rebounded as the year progressed as a result of strategic pricing actions to maintain competitiveness and intensified investments in brands, supported by distribution expansion."

We remain committed to the ESG framework of People, Growth, Governance and Resources to build a sustainable and profitable business, added Varun Berry.

Britannia Industries Share Performance: The 52-week high price of Britannia Industries share on BSE is Rs 5386.25 per share (as on 29/12/2023) and 52-week low price is Rs 4349.95 per share (as on 1/11/2023), respectively. The company's market capitalisation is Rs 1,14,295.62 crore. Britannia Industries has a PE of 54.17 and ROE of 85.76. Britannia Industries shares fell 8% in last 3-months, surged over 4% in last 6-months, gained 5% in last 1-year, and offered return of 76% in last 5-years.

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