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BRITANNIA INDUSTRIES LTD. - 500825 - Board Meeting Outcome for Outcome Of The Board Meeting Held On 8Th November, 2021

 Pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of the Company at their meeting held today 8th November, 2021, considered and approved the Statement of Unaudited Financial Results of the Company for the quarter and half year ended 30th September, 2021 and authorized Mr. Nusli N Wadia, Chairman to sign the results to be submitted to stock exchanges. Statement of Unaudited Financial Results and Limited Review Report for the quarter and half year ended 30th September, 2021 along with the Press Release is enclosed. The said Results are also being published in the newspapers as required under the SEBI (LODR) Regulations, 2015. The Board Meeting commenced at 11:30 A.M. and concluded at 3:10 P.M. Request you to take the above information on records. Thank You
08-11-2021
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BRITANNIA INDUSTRIES LTD. - 500825 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

 Dear Sir/Madam, Pursuant to the provisions of Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company will be holding investor/analyst conference call on Tuesday, 9th November, 2021 at 10.00 hours. During the call, the management will comment upon the financial results and operations for the quarter ended 30th September, 2021. Transcript of the said call will be subsequently posted on the Company's Website. The details of the aforesaid investor/analyst conference call are enclosed herewith.
02-11-2021
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BRITANNIA INDUSTRIES LTD. - 500825 - Board Meeting Intimation for Intimation Of Board Meeting To Be Held On Monday, 8Th November 2021

 BRITANNIA INDUSTRIES LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 08/11/2021 ,inter alia, to consider and approve the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half-year ended 30th September 2021
01-11-2021
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Britannia Industries Ltd - 500825 - Statement Of Investor Complaints For The Quarter Ended September 2021

 No.of Investor complaints pending at the beginning of the quarter No.of Investor complaints received during the quarter No.of Investor complaints disposed of during the quarter No.of Investor complaints unresolved at the end of the quarter 411150 Name of the Signatory :- Thulsidass T V Designation :- Company Secretary and Compliance Officer
20-10-2021
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Britannia Industries Ltd - 500825 - Shareholding for the Period Ended September 30, 2021

 Britannia Industries Ltd has submitted to BSE the Shareholding Pattern for the Period Ended September 30, 2021. For more details, kindly Click here
20-10-2021

Britannia Industries Q2 PAT seen up 1.1% YoY to Rs 505 cr: KRChoksey

 Net Sales are expected to increase by 6.2 percent Y-o-Y (up 6.7 percent Q-o-Q) to Rs 3,631 crore, according to KRChoksey.
18-10-2021
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Britannia Industries Ltd - 500825 - Certificate In Respect Of Issue Of Commercial Papers For The Quarter Ended 30Th September, 2021

 Pursuant to the provisions of the SEBI Circular No. SEBI/HO/DDHS/DDHS/CIR/P/2019/115 dated 22nd October, 2019, please find enclosed the certificate with respect to issue of commercial papers signed by Chief Financial Officer for the quarter ended 30th September, 2021. Further, the listing conditions, as specified in Annexure I of the above referred circular have been duly complied with.
12-10-2021

‘Good Days’ Are Making a Comeback For Britannia

 Higher home consumption of packaged food, a shift towards well-known brands and a rising focus on health aided Britannia Industries' robust growth in FY21. Britannia reported its highest revenue and net profit YoY growth over the past seven years in FY21 aided by a superlative performance in the June and September 2020 quarters thanks to Covid-19 tailwinds. While Covid-19 turbulence significantly transformed consumer behavior, 18 months into the pandemic consumer sentiment is now cautiously optimistic. With India’s vaccination drive picking up and the opening up of the economy, various economic indicators signal a stable recovery ahead. With this backdrop, the FMCG pack is getting ready for the festive splurge. Britannia is also back with its aggressive marketing campaigns. Milk Bikis' campaign of ‘Dood Roti Ki Shakti’ targeting close rival Parle G has caught the attention of consumers and investors. The biscuits battle is going to be very interesting in FY22 amid new product launches, high rivalry, and commodity price rise. Quick Takes: Britannia forayed into salty snacks category and recently launched 50-50 Potazos in the North East The company is undertaking an expansion of Khurda plant in Orissa which is expected to be operational by Q2FY23 An ‘ultra-mega' plant in Ranjangaon with Rs 1,500 crore earmarked capital expenditure (capex) is expected to be completed by 2024 Britannia intends to gradually pass on commodity and fuel price costs increases to consumers to improve its operating margins High raw material cost, rising crude prices and increasing advertising expenses might impact operating margins in the coming quarters Britannia maintains growth momentum amid Covid-19 second wave Britannia reported flat revenue growth (Rs 3,403 crore) in the June 2021 quarter despite a high base of corresponding Q1FY21, the previous year. The company had reported revenue and volume growth of 27% YoY and 21% YoY respectively in the June quarter last year. In-home consumption, pantry loading, and lower competitive intensity aided Britannia’s spectacular June 2020 quarter performance. The company matched up to Q1FY21 volume and revenue growth in the absence of any major pantry loading during the Covid-19 second wave lockdowns in Q1FY22. Speaking on consumer demand trends seen during Covid-19 second wave, Varun Berry, Managing Director at Britannia Industries said, “The world has got used to living through a pandemic. Producers are better prepared to manage their workforce, and factories have not been under lockdown like they were last year.” He further added that while there was some amount of pantry loading during the second wave, it was nowhere near last year's levels. The company’s superlative growth slowed from the September 2020 quarter onwards as the first pandemic wave ebbed and lockdown restrictions eased. After surmounting the Q1FY21 peak base quarter, Britannia is expected to be on a stronger footing in terms of revenue and volume growth in the upcoming quarters of FY22 due to the lower FY21 base. Britannia maintains market share, raw material inflation and rising crude may bite into margins Britannia’s domestic business resilience lies in its robust biscuit portfolio, which constitutes roughly 80% of total revenues. Britannia is the market leader in the Indian biscuit segment with nearly 35% market share followed by Parle products with roughly 30%. Parle Products' stronghold lies in northern India while south India is Britannia’s forte. The company has a market share of more than 90% in Tamil Nadu and is also the market leader in Kerala. Britannia has maintained higher market share compared to its close peers, Parle Products and ITC since 2016-17 (as shared in Britannia Industries' investor presentation). Though Parle gained market share from smaller regional players in FY21 driven by its value segment Parle G brand, Britannia maintains the lead in the overall biscuit segment. A small player in the value segment, Britannia is seeing a strong resurgence in its premium biscuit portfolio, mainly Marie Gold, NutriChoice, Good Day, and Milk Bikis. Britannia’s Tiger brand competes with Parle G in the value segment. Sharing his views on the value segment, Berry said, “We don't plan to make a very big pitch for the value portfolio, because the margins there with the current inflation are single digit.” The company is facing high inflation in refined palm oil and milk prices. Refined palm oil and milk prices rose 49% and 13% YoY respectively in Q1FY22. Along with high raw material costs, high crude prices (Brent crude price doubled YoY in October 2021) directly hits its supply chain, and increasing advertising expenses to hold off competition are also expected to impact operating margins in the upcoming quarters. The company is back on air, advertising all its biscuit brands and adjacent products such as cake, rusk and milkshakes. Hindi hinterland strategy to drive long term growth To maintain its lead over its competitors in terms of market share, Britannia needs to further invest in its direct reach network and continue with its focused Hindi hinterland strategy. Britannia’s direct reach stands at 2 million outlets compared to Nestle’s 1.4 million. Higher direct reach reduces the dependence on wholesalers and aids wider product distribution, which helps in triggering impulse purchases among consumers especially for snacking products. Britannia is under-penetrated in north India especially in Uttar Pradesh, Bihar, Madhya Pradesh and Chhattisgarh. Targeting rural consumers in Hindi belt states, the company has created affordable price points across the Rs 5-20 range for its premium products. According to a recent Nielsen survey, rural resilience supported by good monsoon and various government schemes contributed significantly to consumption rebound for the FMCG sector post-Covid-19 second wave. Britannia garners roughly 35% of its total revenues from rural India. To increase its rural revenue share and capture a larger pie of the vast Hindi speaking region, Britannia recently relaunched Milk Bikis Atta - ‘Dood Rooti Ki Shakti’, roping in the actor Pankaj Tripathi. Britannia positioned Milk Bikis as a superior product compared to glucose biscuit market leader Parle G. The Milk Bikis campaign aims to upgrade consumers from the glucose segment to milk biscuit category where Britannia has more than 25% market share. According to the management, sequential growth reported by Milk Bikis is higher than any other Britannia brand in Q1FY22. Initiated in April 2021, Milk Bikis campaign completed its third round of advertising in the July-September 2021 period. Speaking on consumer upgradation from glucose to milk biscuit category, Berry said that this is a small shift in the entire glucose pyramid. He further added, “The objective really is not to grow at 60%-70%, but at some stage take this to a 150%-200% kind of growth in these states. So, that really is what we are looking at.” Price hikes, innovations and capex ahead While the company is very aggressive in increasing its cost efficiencies, Britannia is currently following a cautious approach with respect to price hikes. Berry said that in view of the pandemic and the hardship caused to consumers, the company is calibrating price hikes. Britannia intends to gradually pass on commodity and fuel price increases to consumers and improve its operating margins. Apart from the price hike rollout by the company, analysts are also keenly watching how fast Britannia goes back to its innovation agenda. The pandemic slowed down Britannia’s innovation engine. While close peer Parle Products recently forayed into the packaged wheat flour market, Britannia prefers to focus on its biscuit & snack basket for new product launches. With respect to new products, wafers are growing in double digits, but croissants are still in the test marketing phase. According to the management, the company is the second largest player, and the largest distributor in the wafers category in India. Britannia recently launched 50-50 Potazos in the North East. Potato biscuits are popular in this region, and Britannia’s launch may prove successful here. The potato-based biscuits technology is currently available only in the northeastern plant. The company plans to set up the requisite technology in another three plants across India and introduce Potazos pan India in the next 3-4 months. Britannia is also planning to launch wafer sticks and other NutriChoice products in the next few months. The capex for the year stands at Rs 130 crore. The company is undertaking expansion of the Khurda plant in Orissa to strengthen its core brand capacities and presence in northeastern India. Khurda plant expansion is expected to be completed by the September 2022 quarter. Britannia is also setting up another plant in Tamil Nadu, its largest market, currently facing a capacity shortage and a new plant in Uttar Pradesh to meet demand resurgence in the Hindi Belt. In addition to all of this, a mega plant in Ranjangaon with Rs 1,500 crore earmarked capex is expected to be completed by 2024. Despite Covid-19 disruption, Britannia’s long-term ambition of becoming a ‘Total Foods Company’ is still a work in progress. Hopefully, a third wave should not delay it further.
07-10-2021
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Britannia Industries begins work in UP facility

 Commercial production likely to start in 15 months
01-10-2021
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Britannia Industries Ltd - 500825 - Closure of Trading Window

 Closure of Trading Window
30-09-2021
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