Buy Britannia Industries, target Rs 5700: Dr CK Narayan

Dr CK Narayan of Chart Advise has a buy call on Britannia Industries Ltd. with a target price of Rs 5700. The current market price of Britannia Industries Ltd. is Rs 5587.9. Time period given by analyst is Intra Day when Britannia Industries Ltd. price can reach defined target. Dr CK Narayan recommended to keep stop loss at Rs 5550.

Britannia Industries Ltd., incorporated in1918, is a large-cap food processing company with a market cap of Rs 67087.85 crore.

Britannia Industries Ltd. key Products/Revenue Segments include Bakery Products (Biscuits/Cake) which contributed Rs 8577.14 Crore to Sales Value (98.76 % of Total Sales), Other Operating Revenue which contributed Rs 56.31 Crore to Sales Value (0.64 % of Total Sales), Scrap which contributed Rs 30.43 Crore to Sales Value (0.35 % of Total Sales), Royalty Income which contributed Rs 16.10 Crore to Sales Value (0.18 % of Total Sales), Other Services which contributed Rs 4.41 Crore to Sales Value (0.05 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 31-03-2018, the company has reported a Consolidated sales of Rs 2509.87 Crore, down -1.89 % from last quarter Sales of Rs 2558.30 Crore and up 12.55 % from last year same quarter Sales of Rs 2230.04 Crore Company has reported net profit after tax of Rs 263.79 Crore in latest quarter.

The company’s top management includes Dr.Ajai Puri, Dr.Ajay Shah, Dr.Y S P Thorat, Mr.A K Hirjee, Mr.Avijit Deb, Mr.Jeh N Wadia, Mr.Keki Dadiseth, Mr.Keki Elavia, Mr.Ness N Wadia, Mr.Nimesh N Kampani, Mr.Nusli N Wadia, Mr.S S Kelkar, Mr.Varun Berry, Mrs.Ranjana Kumar. Company has B S R & Co. LLP as its auditoRs As on 31-03-2018, the company has a total of 120,059,148 shares outstanding.