Britannia: Advantage Supply Chain
NULL04-06-2020
Covid-19 slows Britannia's total foods journey as biscuits get priority
Plans to scale up its croissants and salted snacks offerings put on backburner03-06-2020
Britannia: Overall business outlook expected to be robust going ahead
A 24 per cent sales growth in the first two months of June quarter, indicating strong growth levers, enthused the Street03-06-2020
Earnings Call Transcript - Q4FY20 for Britannia Industries
Conference Call with Britannia Management and Analysts on Q4FY20 and Full Year Earnings Performance and Outlook. Listen to the full earnings transcript. Remarks from Managing Director Varun Berry We have started to see good growth and solid progress on our building blocks, different from the first three quarters of last year. Covid had a 7-10% decline in both our topline and bottomline due to the shutdowns. This led to a revenue growth for the FY of 2% which translated to a 24 month of 12%. PAT growth was 26% for the FY and 13.3% for 24 months. Our market share continues to grow, and we increased our market share. How we did it is a similar story - we have been strengthening our foundations. Very steady increase in numeric distribution. Direct reach is 22.2 lakhs. We have 21,000 rural distributors. Markets gain continued across the Hindi belt. Our campaign with Deepika for Good Day did quite well. Bread saw high single digit growth with improvement in profitability. Dairy maintained its profitability sequentially despite upsurge in milk prices. While the Middle East continues to be challenging, rest of the international market is growing in high double digits. We took strategic positions in commodities to limit impact of rising inflation to 4%. There was in the market very high inflation on palm oil at 18% increase in prices, and milk as well where prices rose almost 50%. Impact of COVID19: We decided we should not have any hindsight bias, and we should take uncertainty very seriously. We worked to ensure faster approvals to be operational. Government was also caught wrong-footed, since central government directives were interpreted differently locally. We not only had to talk to central bodies but also district collectors, police etc. We got permission to operate all but four factories. We got 90% of distributors ready to accept stocks. Currently all our factories and distributors are now operational. We realized that there was a lot of demand in the market and whoever got first to market reaped the benefits. We decided that if we needed more capacity we would look at contract packers to meet capacity needs. We are also reviewing our costs in our current scenario. Looking at focusing advertisement, promotion & trade spends; looking at manpower productivity, direct sales from factories & lower turnaround time of vehicles. Also looking at renegotiation of contracts & avoiding discretionary spends, as well as wastage. All these efforts have resulted in a consolidated revenue growth of 24% in the first 2 months of Q1’20-21.03-06-2020
BRITANNIA INDUSTRIES LTD. - 500825 - Fixes Book Closure for AGM
Britannia Industries Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from July 01, 2020 to July 07, 2020 (both days inclusive) for the purpose of 101st Annual General Meeting (AGM) of the Company to be held on July 07, 2020.03-06-2020
BRITANNIA INDUSTRIES LTD. - 500825 - Grant Of Stock Options Under The Employee Stock Option Scheme (ESOS)
Grant of Stock Options under the Employee Stock Option Scheme (ESOS)02-06-2020
BRITANNIA INDUSTRIES LTD. - 500825 - Outcome Of Board Meeting
Outcome of Board Meeting held on 2nd June, 202002-06-2020
BRITANNIA INDUSTRIES LTD. - 500825 - Audited Financial Results For The Quarter And Year Ended 31 March, 2020
The Board of Directors of the Company at its Meeting held today i.e., 2nd June, 2020 has: -Approved the Statement of Audited Standalone and Consolidated Financial Results for the quarter and year ended 31st March, 2020. A copy of the said results, Audit Report and press release is enclosed. -Approved and fixed the date of 101st Annual General Meeting of the Company to be held on Tuesday, 7th July, 2020 at 11:00 A.M through video conference/other audio visual means in accordance with the Ministry of Corporate Affairs Circular No.20/2020 dated 5th May, 2020 and Securities and Exchange Board of India Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/79 dated 12th May, 2020. The procedure for participation in the Annual General Meeting will be intimated separately. -Approved the closure of the Register of Members of the Company from Wednesday, 1st July, 2020 to Tuesday, 7th July, 2020 (both days inclusive) for the purpose of Annual General Meeting.02-06-2020
Broker's call: Britannia Industries
Emkay GlobalBritannia Industries (Buy)CMP: 3,372.5Target: 3,900We increase Britannia's (BRIT) estimates by 12 per cent and raise our TP to 3,900 (f29-05-2020