Britannia Industries Ltd. (BIL), India's leading Food Company, reported consolidated (comparable) revenue growth of 13% for the Quarter and 10% for the Year at Rs. 2,510 crores and Rs. 9,830 crores respectively. Profit from Operations increased 29% for the Quarter and 17% for the Year at Rs. 355 crores and Rs. 1,360 crores respectively. Net Profit increased 25% for the Quarter and 14% for the Year at Rs. 264 crores and Rs. 1,004 crores respectively.
The Board of Directors recommended a dividend of 1250% i.e. Rs. 25/- share.
Commenting on the performance, Mr. Varun Berry, Managing Director, said, "We have witnessed positive momentum in the market growth over the last few months. Our Double digit growth for the quarter is backed by a double digit volume growth on the back of investment in brands and widening our distribution network through focus on direct reach, rural market and weak states. We continued our Premiumisation & Innovation journey with launch of "Milk Bikis Good Morning", "Nutri Choice Oats Chocolate & Almond" "50-50 Jeera" and revamp of our Tiger Cookies portfolio.
Our International business grew in double digits despite a slow-down in many geographies like Middle East and Africa. While the growth in Dairy business has also been subdued due to our focus on driving value added products and reducing our play in the less profitable commoditized products, profitability has improved considerably On the commodity front, prices of key raw material have seen a marginal inflation in Q4. Our accelerated cost efficiency program and endeavour to leverage fixed costs have helped us improve our profitability".
We have progressed well in our journey of building technologically superior factories, in this context, I am pleased to announce that our new greenfield factories at Guwahati, & SEZ in Mundra for servicing export markets have been commercialized. In addition we are also setting up an Integrated Food Park at Ranjangaon, Maharashtra & a Greenfield plant at Nepal which will be our fourth country with local manufacturing.
In the coming year priority will be on bridging portfolio gaps in our bakery business and other adjacent macro snacking business opportunities to ensure we stay ahead of market and achieve profitable growth to take our company to the next level.
Shares of BRITANNIA INDUSTRIES LTD. was last trading in BSE at Rs.5448.65 as compared to the previous close of Rs. 5459.2. The total number of shares traded during the day was 9202 in over 1130 trades.
The stock hit an intraday high of Rs. 5505 and intraday low of 5419.2. The net turnover during the day was Rs. 50324158.