3648.85 29.65 (0.82%)

52W Low on Feb 22, 2021

249.1K NSE+BSE Volume

NSEJun 21, 2021 03:31 PM



Britannia Industries Ltd.    
28 Apr 2021
3648.85
0.82%
HDFC Securities
Nippon Life India Asset Management: NAM has been able to stabilize its market share in the high-margin equity segment over the past two quarters at 7%. We expect it to focus on improving performance to continue recouping its lost market share. Additionally, we expect the company to benefit from increased credibility to raise HNI/institutional capital. Driven by cost optimization, we expect the company to deliver an FY21-23E revenue/NOPLAT CAGR of 12.7/17.5%. We maintain our ADD rating on the stock with a target price of INR360, valuing the stock at 36x Mar-23E NOPLAT + Mar-22E cash and investments. The stock is currently trading at FY22E/23E EV/NOPLAT of 39.9/32.8 and P/E of 34.4/28.9x. Symphony: Symphony clocked an all-round recovery with domestic, exports and subsidiaries revenues seeing beat in expectation. High trade inventory impacted domestic revenue during 9MFY21 (down by 50% YoY) while the strong 28% YoY growth in 4QFY21 (despite a firm base) reflects positive sentiment of trade partners. RoW revenue grew by 46% YoY, owing to robust exports (delay in shipment in 3Q) and recovery of CT, Australia (up 85% YoY). Thereby, consolidated revenue saw robust 36% growth. Domestic EBIT margin contracted by >650bps YoY, owing to high commodity inflation and delay in price hike. RoW EBIT margin saw sharp improvement (18% vs. 2% YoY) due to margin recovery in CT, Australia (EBITDA margin of 17% vs. -2% YoY). We are encouraged by an all-round recovery (key rationale for our stock upgrade in Jan-21); however, localised lockdown has raised concerns on summer-2021 performance for cooling products. As...
Britannia Industries Ltd. is trading above all available SMAs
Britannia Industries Ltd.    
28 Apr 2021
3648.85
0.82%
Axis Direct
We maintain BUY with TP of Rs. 3,890 (earlier Rs. 4,170) as we reduce our multiple to 43x FY23E EPS (earlier 45x).Key downside risks to our estimates easing of lockdown, faster adoption of out-of-home consumption and sudden surge in RMs.
Britannia Industries Ltd. is trading above all available SMAs
Britannia Industries Ltd.    
28 Apr 2021
3648.85
0.82%
SMC online
It has reported consolidated revenue growth of 13% for the year to Rs. 12,883 crores. Consolidated Operating Profit increased 39% for the year to Rs. 2,311 crores. Consolidated Operating Profit % recorded an increase of 340 bps during the year and return on capital employed stood at 40% for the year. The Operating profit of the Company has been steadily growing & has increased from 4% in 2009-10 to 18% in the current year making it amongst the most profitable food companies in the World. In addition, the Company has been consistently...
Number of FII/FPI investors decreased from 701 to 688 in Mar 2021 qtr
Britannia Industries Ltd.    
28 Apr 2021
3648.85
0.82%
Motilal Oswal
The structural story for BRIT remains strong, especially aided by: a) direct reach expansion to ~2.4m outlets (second best after HUVR) and b) further investment in IT infrastructure as highlighted in 4QFY21. The remarkable market share improvement for eight consecutive years will continue as the company widens its moats over peers. Maintain BUY....
Britannia Industries Ltd. is trading above all available SMAs
Britannia Industries Ltd.    
19 Apr 2021
3648.85
0.82%
Axis Direct
We recommend BUY with Target Price of Rs. 4,170/-.
Britannia Industries Ltd. is trading above all available SMAs
Britannia Industries Ltd.    
06 Apr 2021
3648.85
0.82%
Motilal Oswal
Strong structural opportunity: BRIT's opportunity for growth is significant, with the overall Biscuits category estimated to grow in the mid-single digits. Furthermore, the opportunity in terms of market share gains is even greater BRIT's market share is only in the mid-30s despite the company being the largest player in the Biscuits space. The broad Packaged Foods market (estimated at USD4050b) presents the strongest structural opportunity in India's consumption space. BRIT's FY21E revenue of ~USD1.8b is a fraction of this addressable market....
default
Britannia Industries Ltd. is trading above all available SMAs
Britannia Industries Ltd.    
06 Apr 2021
3648.85
0.82%
Motilal Oswal
Strong structural opportunity: BRIT's opportunity for growth is significant, with the overall Biscuits category estimated to grow in the mid-single digits. Furthermore, the opportunity in terms of market share gains is even greater BRIT's market share is only in the mid-30s despite the company being the largest player in the Biscuits space. The broad Packaged Foods market (estimated at USD4050b) presents the strongest structural opportunity in India's consumption space. BRIT's FY21E revenue of ~USD1.8b is a fraction of this addressable market....
Number of FII/FPI investors decreased from 701 to 688 in Mar 2021 qtr
Britannia Industries Ltd.    
15 Feb 2021
3648.85
0.82%
SMC online
Britannia Ind Q3 PAT rises 22% YoY, beats estimates The FMCG Companys Consolidated Total income rose by 6.13% to Rs 3165.61crore in Q3 FY21 from Rs 2982.68 crore in Q3 FY20. Profit before tax rose by 23.4% to Rs 613.73 crore in Q3...
Britannia Industries.. has an average target of 4014.56 from 10 brokers.
Britannia Industries Ltd.    
11 Feb 2021
3648.85
0.82%
Geojit BNP Paribas
Gross margin improved 210bps YoY to 42.0% in Q3FY21 primarily aided by cost efficiency measures. Resultantly, EBITDA margin expanded 260bps YoY to 19.7% partially offset by marginal increase in...
Britannia Industries Ltd. is trading above all available SMAs
Britannia Industries Ltd.    
09 Feb 2021
3648.85
0.82%
Axis Direct
We maintain BUY with TP of Rs. 4,170 as we value the stock at 45x its FY23E EPS and roll forward to FY23E numbers. Key downside risks to our estimates faster adoption of out-of-home consumption and upside risk is onset of COVID-19 second wave.
Number of FII/FPI investors decreased from 701 to 688 in Mar 2021 qtr