Nov 9, 2022
By: Rounak Jain
Credit: Britannia
Britannia reported 21.4 percent YoY growth in revenue to ₹4,338 crore, while net profit grew 28 percent YoY to ₹493 crore.
Credit: Britannia
Analyst consensus on topline growth was in the range of 12-15 percent.
Credit: Britannia
The Good Day maker’s volumes also rose 4-5 percent YoY, which is in line with analyst expectations despite multiple price hikes.
Credit: Britannia
Britannia said it has hiked prices of its products by 22.5 percent over the past 6-7 quarters, against 32 percent inflation during this period.
Credit: Britannia
Britannia said it is gaining traction in rural India where its market share growth has been 1.5x compared to the all-India rate during the quarter.
Credit: Britannia
Britannia’s recent launches – Biscafe, Nutrichoice Seeds, Herbs & Protein have seen a revenue growth of 2.5-2.9x on a sequential basis, the company said.
Credit: Britannia
New launches like Biscafe, Potazos, Wafers and Croissants are together expected to cross ₹350 crore in annualised revenue run rate in FY23, according to analysts.
Credit: Britannia
In its earnings call, Britannia said it has been gaining market share for 38 consecutive quarters.
Credit: Britannia
Analysts have given target prices in the range of ₹4,063-5,000 per share over the next 12 months.
Credit: Britannia
Britannia’s management expects wheat and milk prices to remain elevated, while palm oil prices are stabilizing. Overall, it expects raw material prices to remain stable.
Credit: Britannia