Britannia Industries Ltd (IN:BRITANNIA)
:BRITANNIA
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Britannia Industries Ltd
(BRITANNIA)
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Rating:65Neutral
Price Target:
₹5,933.00
▼(-4.06% Downside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by strong financial quality (high profitability, low and improving leverage, and solid free cash flow). This is tempered by weak technical positioning (trading below key moving averages with muted momentum) and a demanding valuation multiple despite a modest dividend yield.
Positive Factors
Brand-led pricing power
Britannia's established brands and premiumization strategy create durable pricing power and higher-value SKUs. This supports steady mix-driven revenue growth, enhances repeat purchase economics across broad retail distribution, and underpins long-term margin resilience versus undifferentiated peers.
Negative Factors
Margin compression
Sustained gross- and net-margin deterioration suggests persistent input-cost pressures or limited pricing pass-through. Reduced margins weaken the company’s historical profitability buffer, limiting capacity to fund brand investment and risking a protracted decline in industry-leading returns if structural cost/headwind persists.
Read all positive and negative factors
Positive Factors
Negative Factors
Brand-led pricing power
Britannia's established brands and premiumization strategy create durable pricing power and higher-value SKUs. This supports steady mix-driven revenue growth, enhances repeat purchase economics across broad retail distribution, and underpins long-term margin resilience versus undifferentiated peers.
Read all positive factors
Britannia Industries Ltd (BRITANNIA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.28T
Dividend Yield1.24%
Average Volume (3M)9.15K
Price to Earnings (P/E)51.6
Beta (1Y)0.54
Revenue Growth6.74%
EPS Growth16.28%
CountryIN
Employees5,337
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)96.19
Shares Outstanding240,868,300
10 Day Avg. Volume10,298
30 Day Avg. Volume9,153
Financial Highlights & Ratios
PEG Ratio3.17
Price to Book (P/B)25.58
Price to Sales (P/S)6.82
P/FCF Ratio53.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹6,500.00Price Target Upside5.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)115.41
Revenue Forecast (FY)₹210.65B
Britannia Industries Ltd Business Overview & Revenue Model
Company Description
Britannia Industries Limited manufactures and sells various food products primarily in India. It offers bakery products, such as biscuits, breads, cakes, and rusks; dairy products, including milk-based beverages, cheese, dahi, and dairy whiteners;...
How the Company Makes Money
Britannia makes money mainly by selling branded packaged food products, with revenue recognized from the sale of finished goods to a wide network of customers such as distributors/wholesalers, retailers, and modern trade/e-commerce channels. Its c...
Britannia Industries Ltd Financial Statement Overview
Summary
Income Statement
79
Positive
Balance Sheet
86
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 184.30B | 191.52B | 178.85B | 167.18B | 162.52B | 140.94B |
| Gross Profit | 70.15B | 68.58B | 71.83B | 71.38B | 65.67B | 52.57B |
| EBITDA | 33.93B | 35.44B | 31.78B | 31.59B | 28.21B | 21.92B |
| Net Income | 23.17B | 25.33B | 21.79B | 21.40B | 23.22B | 15.25B |
Balance Sheet | ||||||
| Total Assets | 94.50B | 97.32B | 88.39B | 90.74B | 93.53B | 75.16B |
| Cash, Cash Equivalents and Short-Term Investments | 9.21B | 19.91B | 13.77B | 21.51B | 20.00B | 9.80B |
| Total Debt | 21.96B | 13.80B | 12.47B | 20.65B | 29.97B | 24.81B |
| Total Liabilities | 56.91B | 45.96B | 44.57B | 51.08B | 57.88B | 49.30B |
| Stockholders Equity | 37.34B | 51.07B | 43.56B | 39.42B | 35.34B | 25.58B |
Cash Flow | ||||||
| Free Cash Flow | 2.38B | 24.42B | 21.06B | 20.11B | 18.15B | 7.49B |
| Operating Cash Flow | 3.99B | 26.48B | 24.81B | 25.73B | 25.26B | 13.00B |
| Investing Cash Flow | 4.51B | -9.01B | 843.60M | 4.84B | -15.17B | 9.11B |
| Financing Cash Flow | -9.06B | -16.75B | -27.62B | -28.39B | -10.28B | -22.46B |
Britannia Industries Ltd Technical Analysis
Negative
6184.15
Price Trends
5617.90
Negative
5799.25
Negative
5835.97
Negative
Market Momentum
-95.85
Positive
36.97
Neutral
21.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BRITANNIA, the sentiment is Negative. The current price of 6184.15 is above the 20-day moving average (MA) of 5547.03, above the 50-day MA of 5617.90, and above the 200-day MA of 5835.97, indicating a bearish trend. The MACD of -95.85 indicates Positive momentum. The RSI at 36.97 is Neutral, neither overbought nor oversold. The STOCH value of 21.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BRITANNIA.
Britannia Industries Ltd Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹2.71T | 50.90 | ― | 0.97% | 14.62% | 9.14% | |
67 Neutral | ₹504.36B | 24.98 | ― | 0.80% | 19.06% | 43.38% | |
66 Neutral | ₹1.18T | 65.09 | ― | 0.70% | 15.17% | 19.04% | |
65 Neutral | ₹1.28T | 51.56 | ― | 1.24% | 6.74% | 16.28% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
59 Neutral | ₹205.05B | 57.75 | ― | 0.61% | 14.48% | 27.72% | |
53 Neutral | ₹157.47B | 68.77 | ― | 0.28% | 46.22% | -43.17% |
* Consumer Defensive Sector Average
IN:BRITANNIA
Britannia Industries Ltd
5,336.90
-113.83
-2.09%
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Britannia Industries Ltd Corporate Events
Britannia to Host Investor Call on FY26 Results on 8 May
May 4, 2026
Britannia Industries Limited has announced that it will host an investors and analysts conference call on Friday, 8 May 2026 at 10:00 a.m. IST to discuss its financial results and operations for the quarter and financial year ended 31 March 2026. ...
Britannia Reshuffles HR Leadership as VP Ritesh Rana Resigns
Apr 17, 2026
Britannia Industries Ltd has announced a change in its senior management, with Vice President – Human Resources Ritesh Rana resigning from the company to pursue an external opportunity. He will be relieved from his role at the close of busin...
Britannia Shareholders Approve Appointment of New CEO and MD Despite Institutional Dissent
Mar 15, 2026
Britannia Industries Ltd has announced that shareholders have approved, via a postal ballot conducted through remote e-voting, the appointment of Mr. Rakshit Hargave as Chief Executive Officer and Managing Director. The ordinary resolution passed ...
Britannia Shareholders Approve Five-Year CEO, MD Term for Rakshit Hargave
Mar 15, 2026
Britannia Industries has secured shareholder approval via a postal ballot and remote e-voting to appoint Rakshit Hargave as its Chief Executive Officer and Managing Director for a five-year term from December 15, 2025 to December 14, 2030, with th...
Britannia Quells Rumours Over Industrial Gas Disruption Risk
Mar 13, 2026
Britannia Industries has moved to quell market rumours that its operations are being disrupted by industrial gas supply issues stemming from the conflict in the Middle East. The company said it has not seen any significant impact on production at ...
Britannia Schedules Compliant One-to-One Meet With Institutional Investor
Mar 4, 2026
Britannia Industries Ltd has informed the stock exchanges that it will hold a virtual one-to-one meeting with an institutional investor on Friday, 13 March 2026 at 11:00 a.m. IST, in line with disclosure requirements under SEBI’s Listing Reg...
Britannia Schedules Virtual One-to-One Meet With Institutional Investor
Mar 3, 2026
Britannia Industries has informed the stock exchanges that it will hold a virtual one-to-one meeting with an institutional investor on 12 March 2026 at 3:30 p.m. IST. The scheduled interaction underscores ongoing engagement with the investment com...
Britannia Faces Rs 6.37 Crore GST Demand, Says Impact Not Material
Mar 2, 2026
Britannia Industries has disclosed that it received an order from the Joint Commissioner of CGST Central Excise, Thane, determining tax and penalty liabilities under Section 74 of the Central GST Act for financial years 2020-21 to 2023-24. The or...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.