FMCG Britannia Declares 10.5% YoY Jump In PAT, Shares Gain 19.57% In 1-Year

Large cap FMCG company Britannia Industries on August 2 declared its consolidated profit soared 10.5% year-on-year (YoY) to Rs 506 crore for the quarter ended June 30, 2024. The company declared its revenue at Rs 4130 crore, up 4% year-on-year (YoY). Last trading price of Britannia Industries Ltd shares on BSE is Rs 5751.00 with gain of 0.39%. The company's market capitalisation stood at Rs 1,38,523.36 crore.

According to the press release of Britannia Ltd, "Britannia's Consolidated Sales for the Quarter ended 30th June 2024 stands at Rs 4,130 Crores, growing 4.0% over last year and Net Profit (Before Exceptional Items) stands at Rs 524 Crores, growing at 14.5%."

Commenting on the performance, Mr. Varun Berry, Vice Chairman & Managing Director said, "We come out of a challenging financial year that witnessed consumption slowdown, particularly in Rural India. Our performance this quarter reflects the agile approach to a dynamic market environment and diligent market practices. We delivered a modest revenue growth of 4% during the quarter, driven by high single-digit volume growth, and improved operating margins over last year. Our market share progressed well as an outcome of sustained investments in Brands, Product excellence, and Innovation."

We continue to make positive strides in Rural as we expand distribution footprint and enhance product offerings to align with regional preferences, and well positioned to benefit from the consumption growth in Rural. As a result, rural market share grew at a faster clip than Urban. We are actively leveraging the rapidly growing Modern Trade and E-commerce channels, both growing handsomely compared to previous year. Additionally, we introduced the Pure Magic Stars and Golmaal variant during the quarter, which have contributed to heightened consumer excitement and strengthened our brand franchisee., added Varun Berry.

Britannia Industries declared its whole EBITDA surged 9% year-on-year (YoY) to Rs 753 crore. The company announced its total consolidated revenue from operations at Rs 4250.29 crore for the quarter ended June 2024 as against Rs 4010.70 crore declared in the corresponding quarter of last year. Total income of Britannia Industries for June 2024 stood at Rs 4305.90 crore as against Rs 4064.63 crore in the corresponding quarter of last year.

Britannia Shares Performance: The 52-week high price of Britannia Industries share on BSE is Rs 6007.95 per share (as on 23/07/2024) and 52-week low price is Rs 4349.95 per share (as on 1/11/2023), respectively. Britannia Industries shares slipped over 2% in last 1-week, gained 21% in last 3-months, zoomed more than 52% in last 2-years, and gained 64% in last 3-years. Britannia Industries share offered gain of 121% in last 5-years. General Insurance Corporation of India has 1.02% stake in Britannia Industries with 2,467,151 shares of the company.

Britannia Industries Declared Dividend In May 2024: 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."