Britannia Industries Ltd.
BRITANNIAFast Moving Consumer Goods filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
18 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 18 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220511 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220811 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221111 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230208 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230511 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230810 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231107 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240213 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240509 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240809 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241115 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250211 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250516 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250812 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251111 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260216 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260511 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260812 | 2026-06-30 | yes |
BRITANNIA
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 4,895.00 |
| 52-week range | 4895.0 – 6185.0 |
| Return 1M | -9.06% |
| Return 3M | -6.53% |
| Return 1Y | -18.01% |
| Return 3Y | 7.11% |
| Return 5Y | 21.08% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 5,000.00 |
| Other income | 61.00 |
| Total income | 5,061.00 |
| Cost of materials consumed | 2,800.00 |
| Purchases of stock-in-trade | 140.00 |
| Changes in inventories | -14.00 |
| Employee benefit expense | 210.00 |
| Finance costs | 23.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.51 | 0.00 |
| institutions foreign | 0.13 | -0.02 |
| institutions domestic | 0.21 | 0.02 |
| mutual funds | 0.12 | 0.02 |
| public | 0.49 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 18 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 4,380.00 | 4,197.00 | 4,023.00 | 4,011.00 | 4,433.00 | 4,256.00 | 4,069.00 | 4,250.00 | 4,668.00 | 4,593.00 | 4,432.00 | 4,622.00 | 4,841.00 | 4,970.00 | 4,719.00 | 5,000.00 |
| Other income | 53.00 | 51.00 | 56.00 | 54.00 | 52.00 | 51.00 | 57.00 | 56.00 | 46.00 | 62.00 | 63.00 | 57.00 | 52.00 | 59.00 | 55.00 | 61.00 |
| Total income | 4,433.00 | 4,248.00 | 4,080.00 | 4,065.00 | 4,485.00 | 4,307.00 | 4,127.00 | 4,306.00 | 4,714.00 | 4,655.00 | 4,495.00 | 4,679.00 | 4,893.00 | 5,029.00 | 4,774.00 | 5,061.00 |
| Cost of materials consumed | 2,246.00 | 2,098.00 | 2,023.00 | 2,079.00 | 2,283.00 | 2,129.00 | 2,056.00 | 2,212.00 | 2,578.00 | 2,630.00 | 2,440.00 | 2,551.00 | 2,647.00 | 2,663.00 | 2,489.00 | 2,800.00 |
| Purchases of stock-in-trade | 466.00 | 290.00 | 190.00 | 246.00 | 264.00 | 239.00 | 193.00 | 190.00 | 212.00 | 200.00 | 206.00 | 207.00 | 182.00 | 208.00 | 208.00 | 140.00 |
| Changes in inventories | -38.00 | -23.00 | 3.00 | 4.00 | -15.00 | 21.00 | -7.00 | 3.00 | -61.00 | -16.00 | 9.00 | 1.00 | -7.00 | -52.00 | 34.00 | -14.00 |
| Employee benefit expense | 163.00 | 178.00 | 171.00 | 188.00 | 160.00 | 198.00 | 162.00 | 202.00 | 232.00 | 106.00 | 165.00 | 242.00 | 181.00 | 215.00 | 186.00 | 210.00 |
| Finance costs | 54.00 | 38.00 | 35.00 | 53.00 | 53.00 | 31.00 | 26.00 | 29.00 | 35.00 | 45.00 | 31.00 | 26.00 | 35.00 | 33.00 | 19.00 | 23.00 |
| Depreciation and amortisation | 52.00 | 58.00 | 65.00 | 71.00 | 72.00 | 78.00 | 80.00 | 74.00 | 76.00 | 82.00 | 81.00 | 82.00 | 85.00 | 85.00 | 85.00 | 80.00 |
| Other expenses | 831.00 | 836.00 | 836.00 | 805.00 | 869.00 | 848.00 | 877.00 | 889.00 | 922.00 | 828.00 | 808.00 | 864.00 | 882.00 | 955.00 | 949.00 | 1,025.00 |
| Total expenses | 3,774.00 | 3,475.00 | 3,322.00 | 3,446.00 | 3,686.00 | 3,544.00 | 3,388.00 | 3,600.00 | 3,995.00 | 3,875.00 | 3,739.00 | 3,973.00 | 4,006.00 | 4,108.00 | 3,970.00 | 4,262.00 |
| Profit before exceptional items and tax | 659.00 | 772.00 | 757.00 | 619.00 | 800.00 | 762.00 | 738.00 | 706.00 | 719.00 | 780.00 | 757.00 | 706.00 | 887.00 | 922.00 | 804.00 | 799.00 |
| Exceptional items | 0.00 | 376.00 | 0.00 | 0.00 | 0.00 | -3.00 | 0.00 | -25.00 | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 659.00 | 1,148.00 | 757.00 | 619.00 | 800.00 | 760.00 | 738.00 | 682.00 | 719.00 | 780.00 | 757.00 | 706.00 | 887.00 | 922.00 | 804.00 | 799.00 |
| Current tax | 170.00 | 218.00 | 205.00 | 171.00 | 208.00 | 200.00 | 187.00 | 179.00 | 186.00 | 193.00 | 184.00 | 185.00 | 234.00 | 245.00 | 95.00 | 209.00 |
| Deferred tax | -1.00 | -1.00 | -1.00 | -5.00 | 4.00 | 3.00 | 11.00 | -3.00 | -2.00 | 3.00 | 9.00 | -5.00 | -5.00 | -8.00 | 11.00 | -5.00 |
| Tax expense | 169.00 | 217.00 | 204.00 | 167.00 | 212.00 | 203.00 | 198.00 | 176.00 | 184.00 | 196.00 | 193.00 | 181.00 | 229.00 | 237.00 | 105.00 | 204.00 |
| Profit for the period | 491.00 | 932.00 | 558.00 | 455.00 | 586.00 | 556.00 | 537.00 | 505.00 | 532.00 | 582.00 | 559.00 | 520.00 | 655.00 | 682.00 | 680.00 | 593.00 |
| Profit attributable to owners | 493.00 | 932.00 | 559.00 | 458.00 | 588.00 | 556.00 | 538.00 | 506.00 | 531.00 | 582.00 | 560.00 | 521.00 | 654.00 | 680.00 | 678.00 | 591.00 |
| Profit attributable to non-controlling interests | -3.00 | 0.00 | -1.00 | -2.00 | -1.00 | -1.00 | -2.00 | -1.00 | 0.00 | 1.00 | -1.00 | -1.00 | 1.00 | 2.00 | 1.00 | 2.00 |
| Other comprehensive income | 5.00 | 4.00 | -2.00 | -0.00 | 3.00 | 0.00 | -2.00 | 1.00 | 1.00 | 6.00 | -3.00 | 1.00 | 8.00 | 4.00 | 11.00 | 6.00 |
| Total comprehensive income | 496.00 | 937.00 | 556.00 | 455.00 | 589.00 | 556.00 | 535.00 | 506.00 | 533.00 | 589.00 | 556.00 | 521.00 | 663.00 | 686.00 | 690.00 | 599.00 |
| Earnings per share, basic | 20.48 | 38.71 | 23.19 | 19.00 | 24.41 | 23.11 | 22.35 | 20.99 | 22.06 | 24.15 | 23.25 | 21.62 | 27.17 | 28.23 | 28.16 | 24.55 |
| Earnings per share, diluted | 20.48 | 38.71 | 23.19 | 19.00 | 24.41 | 23.11 | 22.35 | 20.99 | 22.06 | 24.15 | 23.25 | 21.62 | 27.17 | 28.23 | 28.16 | 24.55 |
Annual results, as filed
| Line | 2018-03-31 | 2019-03-31 | 2020-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 9,990.00 | 11,055.00 | 11,600.00 | 14,136.00 | 16,301.00 | 16,769.00 | 17,943.00 | 19,152.00 |
| Other income | 166.00 | 206.00 | 279.00 | 223.00 | 216.00 | 214.00 | 227.00 | 224.00 |
| Total income | 10,156.00 | 11,261.00 | 11,879.00 | 14,359.00 | 16,516.00 | 16,983.00 | 18,170.00 | 19,376.00 |
| Cost of materials consumed | 4,906.00 | 5,513.00 | 5,901.00 | 7,474.00 | 8,327.00 | 8,547.00 | 9,859.00 | 10,350.00 |
| Purchases of stock-in-trade | 1,195.00 | 1,104.00 | 974.00 | 1,362.00 | 1,337.00 | 941.00 | 809.00 | 805.00 |
| Changes in inventories | 6.00 | -55.00 | 53.00 | -75.00 | -73.00 | 4.00 | -65.00 | -22.00 |
| Employee benefit expense | 402.00 | 442.00 | 487.00 | 542.00 | 658.00 | 709.00 | 705.00 | 824.00 |
| Finance costs | 8.00 | 9.00 | 77.00 | 144.00 | 169.00 | 164.00 | 139.00 | 113.00 |
| Depreciation and amortisation | 142.00 | 162.00 | 185.00 | 201.00 | 226.00 | 300.00 | 313.00 | 337.00 |
| Other expenses | 1,980.00 | 2,318.00 | 2,342.00 | 2,632.00 | 3,220.00 | 3,399.00 | 3,447.00 | 3,650.00 |
| Total expenses | 8,638.00 | 9,492.00 | 10,018.00 | 12,280.00 | 13,865.00 | 14,064.00 | 15,208.00 | 16,057.00 |
| Profit before exceptional items and tax | 1,518.00 | 1,769.00 | 1,861.00 | 2,080.00 | 2,652.00 | 2,920.00 | 2,962.00 | 3,319.00 |
| Exceptional items | 0.00 | 0.00 | -17.00 | -1.00 | 376.00 | -3.00 | -25.00 | 0.00 |
| Profit before tax | 1,518.00 | 1,769.00 | 1,844.00 | 2,079.00 | 3,027.00 | 2,917.00 | 2,937.00 | 3,319.00 |
| Current tax | 514.00 | 600.00 | 448.00 | 612.00 | 721.00 | 766.00 | 742.00 | 758.00 |
| Deferred tax | 1.00 | 13.00 | 3.00 | -50.00 | -5.00 | 14.00 | 7.00 | -7.00 |
| Tax expense | 514.00 | 612.00 | 451.00 | 562.00 | 716.00 | 779.00 | 749.00 | 752.00 |
| Profit for the period | 1,004.00 | 1,155.00 | 1,394.00 | 1,516.00 | 2,316.00 | 2,134.00 | 2,178.00 | 2,537.00 |
| Profit attributable to owners | 1,004.00 | 1,159.00 | 1,403.00 | 1,525.00 | 2,322.00 | 2,140.00 | 2,179.00 | 2,533.00 |
| Profit attributable to non-controlling interests | -0.00 | -4.00 | -9.00 | -9.00 | -5.00 | -6.00 | -1.00 | 4.00 |
| Other comprehensive income | -0.00 | 4.00 | 5.00 | 6.00 | 15.00 | 1.00 | 6.00 | 24.00 |
| Total comprehensive income | 1,004.00 | 1,159.00 | 1,399.00 | 1,522.00 | 2,332.00 | 2,135.00 | 2,184.00 | 2,561.00 |
| Earnings per share, basic | 83.65 | 48.25 | 58.35 | 63.31 | 96.39 | 88.84 | 90.45 | 105.18 |
| Earnings per share, diluted | 83.61 | 48.21 | 58.34 | 63.31 | 96.39 | 88.84 | 90.45 | 105.18 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 7,912.00 | 9,353.00 | 8,749.00 | 9,074.00 | 9,467.00 | 8,839.00 | 9,450.00 | 9,732.00 |
| Non-current assets | 3,961.00 | 4,606.00 | 4,445.00 | 4,225.00 | 4,217.00 | 4,925.00 | 4,823.00 | 5,054.00 |
| Current assets | 3,951.00 | 4,714.00 | 4,298.00 | 4,842.00 | 5,250.00 | 3,914.00 | 4,627.00 | 4,678.00 |
| Property, plant and equipment | 1,558.00 | 2,472.00 | 2,587.00 | 2,603.00 | 2,783.00 | 2,735.00 | 2,749.00 | 2,673.00 |
| Capital work-in-progress | 879.00 | 105.00 | 83.00 | 188.00 | 56.00 | 89.00 | 73.00 | 39.00 |
| Goodwill | 147.00 | 128.00 | 129.00 | 130.00 | 130.00 | 133.00 | 137.00 | 144.00 |
| Other intangible assets | 15.00 | 14.00 | 12.00 | 11.00 | 9.00 | 8.00 | 6.00 | 5.00 |
| Inventories | 1,850.00 | 1,193.00 | 1,649.00 | 1,181.00 | 1,972.00 | 1,237.00 | 2,200.00 | 1,346.00 |
| Trade receivables | 361.00 | 329.00 | 413.00 | 393.00 | 510.00 | 449.00 | 497.00 | 469.00 |
| Cash and cash equivalents | 97.00 | 102.00 | 120.00 | 323.00 | 111.00 | 133.00 | 78.00 | 220.00 |
| Total equity and liabilities | 7,912.00 | 9,353.00 | 8,749.00 | 9,074.00 | 9,467.00 | 8,839.00 | 9,450.00 | 9,732.00 |
| Equity | 2,073.00 | 3,564.00 | 2,874.00 | 3,966.00 | 3,236.00 | 4,381.00 | 3,759.00 | 5,136.00 |
| Equity share capital | 24.00 | 24.00 | 24.00 | 24.00 | 24.00 | 24.00 | 24.00 | 24.00 |
| Other equity | 2,017.00 | 3,510.00 | 2,824.00 | 3,917.00 | 3,186.00 | 4,332.00 | 3,709.00 | 5,082.00 |
| Total liabilities | 5,839.00 | 5,788.00 | 5,875.00 | 5,108.00 | 6,230.00 | 4,457.00 | 5,691.00 | 4,596.00 |
| Non-current liabilities | 1,776.00 | 1,654.00 | 904.00 | 1,023.00 | 941.00 | 839.00 | 771.00 | 416.00 |
| Current liabilities | 4,063.00 | 4,134.00 | 4,971.00 | 4,084.00 | 5,289.00 | 3,618.00 | 4,920.00 | 4,180.00 |
| Borrowings, non-current | 1,710.00 | 1,552.00 | 801.00 | 905.00 | 809.00 | 713.00 | 617.00 | 286.00 |
| Borrowings, current | 1,312.00 | 1,429.00 | 1,960.00 | 1,136.00 | 1,922.00 | 512.00 | 1,558.00 | 1,072.00 |
| Trade payables | 1,479.00 | 1,449.00 | 1,629.00 | 1,627.00 | 1,809.00 | 1,752.00 | 1,882.00 | 1,896.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 731.00 | 2,526.00 | 967.00 | 2,573.00 | 546.00 | 2,481.00 | 399.00 | 2,612.00 |
| Net cash from investing activities | 174.00 | -1,517.00 | 1,121.00 | 476.00 | 401.00 | 84.00 | 451.00 | -757.00 |
| Net cash from financing activities | -923.00 | -1,028.00 | -2,072.00 | -2,830.00 | -1,165.00 | -2,762.00 | -906.00 | -1,783.00 |
| Purchase of property, plant and equipment | 385.00 | 711.00 | 293.00 | 562.00 | 197.00 | 375.00 | 161.00 | 206.00 |
| Net increase in cash | -12.00 | -9.00 | 17.00 | 219.00 | -217.00 | -194.00 | -53.00 | 88.00 |
| con:CFO.BEFORE_TAX | 951.00 | 3,617.00 | 1,251.00 | 3,338.00 | 821.00 | 3,171.00 | 682.00 | 3,434.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 220.00 | 726.00 | 284.00 | 765.00 | 275.00 | 689.00 | 283.00 | 822.00 |
| con:CF_OTHER.OPERATING | 0.00 | -365.00 | 0.00 | -0.00 | 0.00 | -1.00 | -1.00 | -1.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 262.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 5.00 | 0.00 | 53.00 | 0.00 | 6.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | -139.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 216.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 50.55 | 50.55 | 50.55 | 50.55 | 50.55 | 50.55 | 50.55 | 50.55 | 50.55 | 50.55 | 0.51 | 0.51 | 0.51 | 0.51 |
| Domestic institutions | 14.35 | 12.59 | 13.98 | 14.97 | 15.77 | 16.82 | 16.37 | 17.58 | 18.26 | 18.66 | 0.19 | 0.20 | 0.19 | 0.21 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 8.63 | 0.10 | 0.11 | 0.10 | 0.12 |
| Insurance companies | 1.82 | 1.57 | 2.29 | 3.36 | 3.27 | 3.74 | 3.62 | 3.80 | 4.43 | 4.54 | 0.04 | 0.04 | 0.04 | 0.04 |
| Foreign institutions | 19.44 | 21.29 | 19.66 | 18.99 | 18.23 | 17.41 | 17.90 | 16.46 | 15.72 | 15.58 | 0.15 | 0.15 | 0.16 | 0.13 |
| Government | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 49.45 | 49.45 | 49.45 | 49.45 | 49.45 | 49.45 | 49.45 | 49.45 | 49.45 | 49.45 | 0.49 | 0.49 | 0.49 | 0.49 |
| Non-institutional | 15.66 | 15.57 | 15.82 | 15.49 | 15.45 | 15.23 | 15.18 | 15.41 | 15.47 | 15.21 | 0.15 | 0.15 | 0.15 | 0.15 |
| Shares outstanding | 240868296 | 240868296 | 240868296 | 240868296 | 240868296 | 240868296 | 240868296 | 240868296 | 240868296 | 240868296 | 240868296 | 240868296 | 240868296 | 240868296 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Associated Biscuits International Limited (ABIL), UK | Holding company | Dividend paid | 7,924,000,000.00 | 1 |
| Britannia Bel Foods Private Limited | Joint venture | Any other transaction, Investment, Purchase of goods | 2,520,600,000.00 | 10 |
| International Bakery Products Limited | Subsidiary | Any other transaction, Investment, Purchase of goods | 2,180,700,000.00 | 10 |
| Manna Foods Private Limited | Subsidiary | Any other transaction, Investment, Purchase of goods | 2,131,800,000.00 | 8 |
| Strategic Food International Co. LLC, Dubai | Subsidiary | Any other transaction, Dividend received, Investment | 1,790,600,000.00 | 8 |
| J B Mangharam Foods Private Limited | Subsidiary | Any other transaction, Investment, Purchase of goods | 1,470,500,000.00 | 6 |
| Britchip Foods Limited | Subsidiary | Any other transaction, Investment, Purchase of goods | 943,900,000.00 | 9 |
| Bombay Burmah Trading Corporation Limited | Ultimate Holding company | Any other transaction, Inter-corporate deposit, Inte | 868,900,000.00 | 4 |
| Mr.Varun Berry | KMP - Vice Chairman and Managing D | Any other transaction, Remuneration | 769,100,000.00 | 3 |
| Nowrosjee Wadia and Sons Limited | Other related party | Any other transaction | 301,500,000.00 | 1 |
| Dowbiggin Enterprises Pte Limited, Singapore | Fellow subsidiary companies | Dividend paid | 204,700,000.00 | 1 |
| Nacupa Enterprises Pte Limited, Singapore | Fellow subsidiary companies | Dividend paid | 204,700,000.00 | 1 |
| Spargo Enterprises Pte Limited, Singapore | Fellow subsidiary companies | Dividend paid | 204,700,000.00 | 1 |
| Valletort Enterprises Pte Limited, Singapore | Fellow subsidiary companies | Dividend paid | 204,700,000.00 | 1 |
| Bannatyne Enterprises Pte Limited, Singapore | Fellow subsidiary companies | Dividend paid | 204,600,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-12 | Q1FY27 | BRITANNIA INDUSTRIES LIMITED, LIMITED | Read the call |
| 2026-05-11 | Q4FY26 | LIMITED, SIDDHARTH, VICE | Read the call |
| 2026-02-16 | Q3FY26 | CORPORATE, GENERAL, LIMITED, RAMAMURTHY, SIDDHARTH, VICE, – BRITANNIA | Read the call |
| 2025-11-11 | Q2FY26 | CHIEF FINANCIAL OFFICER, MANAGER, CORPORATE FINANCE, MARKETING, PROCUREMENT OFFICER, SALES | Read the call |
| 2025-08-12 | Q1FY26 | LIMITED | Read the call |
| 2025-05-16 | Q4FY25 | Read the call | |
| 2025-02-11 | Q3FY25 | INDUSTRIES LIMITED, LIMITED | Read the call |
| 2024-11-15 | Q2FY25 | INDUSTRIES LIMITED, LIMITED | Read the call |
| 2024-08-09 | Q1FY25 | INDUSTRIES LIMITED, LIMITED | Read the call |
| 2024-05-09 | Q4FY24 | BRITANNIA INDUSTRIES LIMITED, INDUSTRIES LIMITED | Read the call |
| 2024-02-13 | Q3FY24 | GENERAL, LIMITED, RAMAMURTHY | Read the call |
| 2023-11-07 | Q2FY24 | BRITANNIA INDUSTRIES LIMITED, INDUSTRIES LIMITED, – BRITANNIA INDUSTRIES LIMITED | Read the call |
| 2023-08-10 | Q1FY24 | BRITANNIA INDUSTRIES LIMITED, LIMITED, – BRITANNIA INDUSTRIES LIMITED | Read the call |
| 2023-05-11 | Q4FY23 | BRITANNIA INDUSTRIES LIMITED, CEO, BRITANNIA INDUSTRIES LIMITED, CFO, BRITANNIA INDUSTRIES | Read the call |
| 2023-02-08 | Q3FY23 | Read the call | |
| 2022-11-11 | Q2FY23 | Read the call | |
| 2022-08-11 | Q1FY23 | BRITANNIA INDUSTRIES LIMITED, CFO, BRITANNIA INDUSTRIES LIMITED, OFFICER, BRITANNIA INDUST | Read the call |
| 2022-05-11 | Q4FY22 | BRITANNIA INDUSTRIES LIMITED, CFO, BRITANNIA INDUSTRIES LIMITED, LIMITED | Read the call |
What they said about it, quarter by quarter
| Topic | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | — | My second check was just on capex for FY '25, and are there any thoughts on capex for FY '26? | — | And second question is on the CAPEX plan for FY22? | If you were to look at Croissant, I think it's just two players there it's us and Bauli and the reason for that is that it's a high CAPEX model where … | — | — | — |
| Capital allocation | — | — | — | On dividend payout, have we finalized some policy because last 2-3 years we have seen externally dividend payout. | — | — | In your categories, is there an impact, especially now I'm seeing Tata's Soulfull acquisition now going to Rusk, for example. | — |
| Costs | So basically, I would be right in assuming that even the input cost on a sequential basis on -- the overall basket has deflated by about 3% to 4%. | The elements of our cost savings are on the left-hand side. | — | If you were to look at it in ‘21-22 we were five times cost savings than what were in ‘13-14. | Moving to cost and profitability; Slide #14, this is the country's food price index which is showing that over the last year there is a 10% inflation … | Would it be fair to say that near term, there could be some negative impact coming on margins, given the RTM 2.0, which we would be initiating, which … | But this year, we went on overdrive because inflation had become pretty high, and we thought that we could do with some additional cost efficiencies a… | We told you -- you're talking about raw materials so these are the three most important raw materials. |
| Debt and cash | — | — | — | — | — | — | For a company with your kind of cash flows, when we compare you versus other F&B players, we have seen some of your peers have been more open to inorg… | — |
| Demand | So probably 20,000 tons per month, and this has given us -- and obviously, we do it with the right demand centers in mind. | Our innovation pipeline is also catering to regional preferences and is helping us drive premiumness. | While our cheese business is growing more, I would say, marginally, but the other businesses like milk drinks and we're actually entering into the sea… | — | — | — | My first question is on the demand side. | Or basically just trying to appreciate or understand the domestic demand environment. |
| Guidance | So should we expect the margins to moderate in 4Q and going forward in, say, year FY '25? | Can you talk about the outlook for staff costs in the coming year as well? | I wanted to just check, so while you've come back to 20% EBITDA level, can we expect gross margins to further improve from here? | 14,000 crores what is the FY22 new product contribution if you have and if you can share any guidance or targets for FY22? | We are already at that end of the steady state guidance. | So I think the volume growth this year, we expect them to be quite solid. | Just your thoughts, I mean, this is not a guidance or any particular target, but just your thoughts on, if I were to say, over the next 5 years, what … | So, we expect those things to start rolling in along with this price of the dual pricing going away as a very positive for us. |
| Margin | When one looks at the gross margins and EBITDA level margins, Britannia is at its best apparently. | And you have seen a 600 bps gross margin erosion. | Intent going forward would also be to launch a lot of digital first brands where it will be margin accretive, adding to the overall profitability stor… | We've also seen a healthy consistent margin delivery in bread and rusk. | First on the gross margin for this quarter, you reported I think probably the best ever. | Wanted to understand what is the optimal margin expectations that we should build into next year? | And if you continue to do that, what is the level of operating margin that you will be comfortable with? | But yes, it could be from a transaction point of view some wholesalers and rural markets would probably want to stop that more because they see an opp… |
| People | The right side shows that cost efficiencies that we derive out of our projects have gone to 7x what they were in '13, '14 and the projects are pretty … | — | — | — | — | There are many more smaller components with the big ones are truck utilization, distance travelled by our product, market damages, renewable energy, w… | — | — |
| Pricing | The next slide is about pricing actions that we've taken. | And we have taken pretty steep price increases towards the last year. | And so one, the inflation that Britannia Industries Limited February 11, 2026 happened and a delayed price increase with a lag of about 2, 3 months th… | Obviously, there's nothing more important than taking the right amount of price increases and which is what we've been doing. | The summary is that this year we've taken pricing actions to make sure that we offset inflation. | We've actioned measured pricing actions in specific channels, as I've already told you, and we've delivered very solid cost efficiencies across our fu… | So this clearly is a story where there was a pretty aggressive inflation and which necessitated us taking some action on the pricing front, and that's… | And the price transition on that, because of some dual pricing in the market, has caused some challenges in our rural channels and in our wholesale ch… |
| Revenue growth | And all of these are contributing on an annualized basis, about INR 200 crores to our top line. | And for a 24-month period, the same number is 8.8% on the top line and 1.6% on the PAT. | We believe that the opportunity for us to drive top line better is definitely there. | That was the peak, from there onwards we've come to approximately 14.2% operating margin which is a growth of 10% for Q4 and at 24 months growth of 23… | Moving on to Slide #12, which gives us the top line growth. | Frankly, we are going to drive top line hard this year. | Our revenue growth, as I said, was -- for this quarter was 9% and for the full year has been 6%. | And then in March, because of our inability to supply from West Asia, that low growth of that market, actually the business from that part was actuall… |