Buy Britannia Industries, target price Rs 3670: Kotak Securities

Kotak Securities has buy call on Britannia Industries with a target price of Rs 3670. The current market price of Britannia Industries is Rs 3587.05. Time period given by analyst is Intra Day when Britannia Industries Ltd. price can reach defined target.

Britannia Industries Ltd., incorporated in the year 1918, is a Large Cap company (having a market cap of Rs 85806.92 Crore) operating in FMCG sector.

Britannia Industries Ltd. key Products/Revenue Segments include Food Products, Other Operating Revenue, Scrap, Royalty Income, Other Services for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 3630.11 Crore, down -.84 % from last quarter Total Income of Rs 3660.77 Crore and up 11.76 % from last year same quarter Total Income of Rs 3248.17 Crore. Company reported net profit after tax of Rs 369.89 Crore in latest quarter.

Investment Rationale
Trading near important retracement levels and the pullback rally for upside is probable.

Promoter/FII Holdings
Promoters held 50.55 per cent stake in the company as of 31-Dec-2021, while FIIs owned 17.59 per cent, DIIs 11.52 per cent.