Britannia Industries Ltd Q4 FY2020 consolidated PAT up at Rs. 374.75 crore

BRITANNIA INDUSTRIES LTD. has reported financial results for the period ended March 31, 2020.

Financial Results (Q4 FY19-20) - QoQ Comparison

The company has reported total income of Rs.2946.32 crores during the period ended March 31, 2020 as compared to Rs.3047.86 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.374.75 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.372.63 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.15.58 for the period ended March 31, 2020 as compared to Rs.15.49 for the period ended December 31, 2019.

Financials	Q4 FY19-20	Q3 FY19-20	% Change
Total Income	₹ 2946.32 crs	₹ 3047.86 crs	-3.33%
Net Profit	₹ 374.75 crs	₹ 372.63 crs	0.57%
EPS	₹ 15.58	₹ 15.49	0.58%

Financial Results (Q4 FY19-20) - YoY Comparison

The company has reported total income of Rs.2946.32 crores during the period ended March 31, 2020 as compared to Rs.2860.75 crores during the period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.374.75 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.297.23 crores for the period ended March 31, 2019.

The company has reported EPS of Rs.15.58 for the period ended March 31, 2020 as compared to Rs.12.36 for the period ended March 31, 2019.

Financials	Q4 FY19-20	Q4 FY18-19	% Change
Total Income	₹ 2946.32 crs	₹ 2860.75 crs	2.99%
Net Profit	₹ 374.75 crs	₹ 297.23 crs	26.08%
EPS	₹ 15.58	₹ 12.36	26.05%

Financial Results (12 months ended FY 19-20) - YoY Comparison

The company has reported total income of Rs.11878.95 crores during the 12 months period ended March 31, 2020 as compared to Rs.11261.12 crores during the 12 months period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.1402.63 crores for the 12 months period ended March 31, 2020 as against net profit / (loss) of Rs.1159.12 crores for the 12 months period ended March 31, 2019.

The company has reported EPS of Rs.58.34 for the 12 months period ended March 31, 2020 as compared to Rs.48.21 for the 12 months period ended March 31, 2019.

Financials	Year Ended FY19-20	Year Ended FY18-19	% Change
Total Income	₹ 11878.95 crs	₹ 11261.12 crs	5.49%
Net Profit	₹ 1402.63 crs	₹ 1159.12 crs	21.01%
EPS	₹ 58.34	₹48.21	21.01%

Commenting on the performance, Mr. Varun Berry, Managing Director, said: "After 9 months of moderate growth, we started to see growths coming back in the first 2 months of this quarter which was then hit by Covid 19 & lockdown in March impacting the revenue & net profit growths by an estimated 7-10%. In this period, we continued to garner market share through our focus on the building blocks of distribution, diligence in marketplace & brand building through focussed product campaigns.

On the cost front, we witnessed moderate inflation in the prices of key raw materials for the bakery business. Commodity prices at global level too witnessed a moderation due to low demand on account of lockdown in most parts of the world. Our drive on cost efficiencies, reduction in wastages and ability to leverage fixed costs helped us improve the shape of our business and record a 40 bps increase in operating profit during the quarter despite the Covid 19 pandemic.

Disclosure of impact of Covid 19 on business: The Covid 19 pandemic impacted human lives and economies significantly, globally, disrupting supply chain and operations of several businesses. While we faced some challenges in the first month of the lockdown, we recovered quickly & progressively liaised with the government to get approvals for operating all our factories & depots across the country. The team at Britannia rose to the occasion with exemplary work on:

- defining & implementing Standard Operating Procedures on safety, hygiene & quality measures in factories, depots & in-market,
- laying down ways of working from home,
- ramping up production in a scenario of labour scarcity,
- optimizing production planning,
- connecting with distributors, retailers and ensuring continuous supplies &
- actioning several cost reduction initiatives to manage the additional costs triggered by the crisis.

As a result, we witnessed a revenue growth of 20% in April'20 & 28% in May'20 versus the corresponding months in the previous year.

During these tough times, the Company along with the Wadia group provided 1.35 crore meal & meal equivalents and 90 lacs of bakery packs to the less fortunate, especially migrants, across 19 states. This effort was led by the employees of all the Wadia group companies.

We are diligently studying the impact of Covid 19 on short-term & long-term changes in consumer preferences to adopt the learnings in our strategy going forward."

Shares of BRITANNIA INDUSTRIES LTD. was last trading in BSE at Rs.3463 as compared to the previous close of Rs. 3435.75. The total number of shares traded during the day was 34421 in over 2639 trades.

The stock hit an intraday high of Rs. 3479.55 and intraday low of 3400.5. The net turnover during the day was Rs. 118995317.

Source : Equity Bulls

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