Britannia Q4 Results: Cons PAT surges 47% YoY to Rs 559 crore, sales up 13%

Britannia Industries reported a 47% year-on-year (YoY) rise in consolidated net profit for the March quarter to Rs 559 crore, on the back of an over 13% growth in the revenue to Rs 4,023.18 crore.

For FY23, the company reported a 52.3% YoY rise in consolidated net profit to Rs 2,322 crore. Revenue from operations increased 15.3% YoY to Rs 16,300.55 crore.

The biscuit maker reported earnings after markets closed. The stock ended nearly 1% higher at Rs 4,626 on the National Stock Exchange. Intraday, the stock scaled a 1-month high of Rs 4,636.95.


Operating profit for the March quarter grew 47% YoY to Rs 736 crore. For FY23, the operating profit rose 30% to Rs 2,605 crore.

“We delivered a robust growth of 11% in this quarter on the back of significant distribution gains, which reflects our execution strength across businesses and channels,” said Varun Berry, Vice Chairman and Managing Director.
On the cost and profitability fronts, input prices softened on the back of a correction in prices of palm oil and packaging materials, while flour continued to trend higher.

“Our intensified cost efficiency program coupled with moderation in commodity inflation led to a healthy operating margin in this quarter,” Berry said, adding that the company remains vigilant of the competitive actions in the marketplace and is closely monitoring commodity price trends, especially around wheat and sugar.

The company will undertake appropriate pricing actions to remain competitive and drive market share growth.

Despite a YoY rise in input costs, staff, and other expenses, the confectionary and dairy products maker reported a whopping 475 basis points expansion in margins in Q4 to 20.4%.

Raw material costs rose nearly 12% YoY to Rs 1,717 crore. Raw materials made up 54% of the total expenses in the March quarter.

In other updates, the company has commercialised 2 greenfield units in the last quarter in Uttar Pradesh and Tamil Nadu and expanded the capacity of its unit in Odisha for biscuit manufacturing.

It has also commercialised 3 new lines to manufacture rusk in the quarter gone by.

“This is in line with our strategy to make in-house, our exclusive range of products, and further enhance productivity,” Berry said.