StrengthTalking point
Profit outpacing revenue
Profit grew 16.5% while revenue grew 6.7%, so the company kept more of each rupee of revenue as profit.
Importance 61 / 95 · growth
Britannia Industries · Research view
Britannia Industries Ltd.
NSE: BRITANNIABSE: 500825ISIN INE216A01030Face value ₹1consolidated
₹4,795
−0.71% · 2026-10-01 · 52-wk ₹4,795–₹6,185
Financials to FY2026 · 5 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis
What stands out?
The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.
StrengthConcernWatchContext
StrengthTalking point
Debt reduced
Total debt is down from ₹2,481 to ₹1,358 over 4 years (45.3% lower); debt-to-equity moved 0.96× → 0.26×.
Importance 60 / 95 · financial health
ContextTalking point
Cheaper than peers — but earns less
P/E of 44.25× is below the packaged foods median (55.11×) — but ROE of 53.3% is also below that peer set (64.8%), so the lower multiple tracks the lower profitability.
Importance 58 / 95 · valuation
StrengthTalking point
Book value compounding
Net worth compounded at 18.7% a year over 4 years (₹2,586 → ₹5,136).
Importance 57 / 95 · financial health
Section 03 · The company
Who is this company?
Classified by the exchange under Fast Moving Consumer Goods › Fast Moving Consumer Goods › Food Products › Packaged Foods.
- Market cap
- ₹1.16 L cr
- FY2026 revenue
- ₹19,152 cr
- FY2026 net profit
- ₹2,537 cr
- Net worth
- ₹5,136 cr
- Total debt
- ₹1,358 cr
- EPS (basic)
- ₹105.18
- Listed
- NSE · BSE
- Reporting
- Ind-ASApr–Mar
Peer set used on this page: 2 packaged foods.
Section 04 · Business performance
Is the business growing?
RevenueNet profit
Strength
Profit grew 16.5% while revenue grew 6.7%, so the company kept more of each rupee of revenue as profit.
Rule PROFIT_FASTER_THAN_REVENUE
- Revenue growth per year
- +7.9%over 4 years
- Revenue growth
- +6.7%vs last year
- Net profit growth
- +16.5%vs last year
- Change in net profit since FY22
- +67%
Over 4 years profit compounded at 13.7% a year while revenue compounded at 7.9% a year — though FY2023 saw a one-off step-change of 53% (a merger, restructuring or a recovery off a low base), so the compounding is uneven.
Net profit grew 16.5% year on year (FY2025 → FY2026).
Revenue has compounded at 7.9% a year over 4 years (₹14,136 → ₹19,152) — steady rather than rapid.
Section 05 · Recent activity
What changed recently?
Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.
Strength
Q1 FY27 net profit was ₹593 cr, up 14.1% from ₹520 cr a year earlier.
Rule QTR_PROFIT_GROWTH_YOY
Strength
Q1 FY27 revenue of ₹5,000 cr is the highest of the 13 quarters on record for this company.
Rule QTR_REVENUE_AT_RECORD
Strength
Q1 FY27 EBIT was ₹822 cr, up 12.3% from ₹732 cr a year earlier.
Rule QTR_OPERATING_PERFORMANCE_CHANGE_YOY
A. Quarterly results
RevenueNet profit
| Quarter | Revenue | YoY | Net profit | YoY | Net margin |
|---|---|---|---|---|---|
| Q2 FY25 | 4,668 | — | 532 | — | 11.4% |
| Q3 FY25 | 4,593 | +7.9% | 582 | +4.8% | 12.7% |
| Q4 FY25 | 4,432 | +8.9% | 559 | +4.2% | 12.6% |
| Q1 FY26 | 4,622 | +8.8% | 520 | +3.0% | 11.3% |
| Q2 FY26 | 4,841 | +3.7% | 655 | +23.2% | 13.5% |
| Q3 FY26 | 4,970 | +8.2% | 682 | +17.1% | 13.7% |
| Q4 FY26 | 4,719 | +6.5% | 680 | +21.6% | 14.4% |
| Q1 FY27 | 5,000 | +8.2% | 593 | +14.1% | 11.9% |
B. TTM snapshot
Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters
- Revenue
- ₹19,529 crTTM
- EBITDA
- ₹3,856 crTTM
- EBIT
- ₹3,522 crTTM
- PBT
- ₹3,412 crTTM
- Net profit
- ₹2,610 crTTM
C. Corporate actions
31 Jul 2026DividendFinal Dividend - Rs. - 90.5000 — ₹90.50/share
4 Aug 2025DividendFinal Dividend - Rs. - 75.0000 — ₹75.00/share
5 Aug 2024DividendFinal Dividend - Rs. - 73.5000 — ₹73.50/share
13 Apr 2023DividendInterim Dividend - Rs. - 72.0000 — ₹72.00/share
20 Jun 2022DividendFinal Dividend - Rs. - 56.5000 — ₹56.50/share
25 May 2021DividendDividend - Rs. - 12.5000 — ₹12.50/share
25 May 2021Scheme of arrangementScheme of Arrangement
8 Apr 2021DividendInterim Dividend - Rs. - 62.0000 — ₹62.00/share
26 Aug 2020DividendInterim Dividend - Rs. - 83.0000 — ₹83.00/share
29 Apr 2020DividendInterim Dividend - Rs. - 35.0000 — ₹35.00/share
22 Aug 2019Scheme of arrangementScheme of Arrangement
1 Aug 2019DividendDividend - Rs. - 15.0000 — ₹15.00/share
29 Nov 2018Stock splitStock Split From Rs.2/- to Rs.1/- — 2:1
27 Jul 2018DividendDividend - Rs. - 25.0000 — ₹25.00/share
28 Jul 2017DividendDividend - Rs. - 22.0000 — ₹22.00/share
29 Jul 2016DividendDividend - Rs. - 20.0000 — ₹20.00/share
27 Jul 2015DividendDividend - Rs. - 16.0000 — ₹16.00/share
23 Jul 2014DividendDividend - Rs. - 12.0000 — ₹12.00/share
23 Jul 2013DividendDividend - Rs. - 8.5000 — ₹8.50/share
17 Jul 2012DividendDividend - Rs. - 8.5000 — ₹8.50/share
19 Jul 2011DividendDividend - Rs. - 6.5000 — ₹6.50/share
8 Sept 2010Stock splitStock Split From Rs.10/- to Rs.2/- — 10:2
23 Jul 2010DividendDividend - Rs. - 25.0000 — ₹25.00/share
8 Mar 2010Scheme of arrangementScheme of Arrangement
9 Jun 2009DividendInterim Dividend - Rs. - 40.0000 — ₹40.00/share
Section 06 · Business performance
Is it becoming more profitable?
EBITDA marginNet margin
Margin and return trends are shown above.
- EBITDA margin now
- 19.7%
- 5-year range
- 17.1–20.2%
- ROE FY2026
- 53.3%
- ROCE FY2026
- 56.7%
Section 07 · Financial health
Is financial health improving?
Net worth (shareholders' funds)
Strength
Total debt is down from ₹2,481 to ₹1,358 over 4 years (45.3% lower); debt-to-equity moved 0.96× → 0.26×.
Rule DEBT_FELL_MULTIYEAR
Operating cash flowNet profit
- Total debt
- ₹1,358 cr
- Operating cash flow ÷ net profit
- 1.03×FY2026
- Free cash flow
- ₹2,406 cr
- Current ratio
- 1.12×
Net worth compounded at 18.7% a year over 4 years (₹2,586 → ₹5,136).
Operating cash flow has matched or exceeded reported profit in 4 of the last 5 profit-making years (latest 1.03×).
Free cash flow has been positive in 5 of the last 5 years.
Section 08 · Relative position
How does it compare with peers?
Ranked against 2 packaged foods (FY2026, consolidated).
Not enough peers in this set report the underlying metrics yet for a ranking.
Context
P/E of 44.25× is below the packaged foods median (55.11×) — but ROE of 53.3% is also below that peer set (64.8%), so the lower multiple tracks the lower profitability.
Rule CHEAP_VS_LOW_RETURNS
- P / E
- 44.3×TTM to Jun 26
- P / B
- 22.5×latest book
- P / S
- 5.9×TTM sales
- Earnings yield
- 2.3%TTM to Jun 26
On the trailing twelve months. Last full year: P/E 45.5× · P/S 6.0× · ROE 53.3%.
Section 09 · The stock
How has the stock performed?
Context
Over 4 years profit compounded at 13.7% a year while the stock returned 1.9% a year — the FY2022 base was somewhat depressed, so part of this is recovery rather than trend.
Rule STOCK_LAGGED_EARNINGS · rebound
- 1-year return
- −19.6%
- 3-year return
- +5.7%
- 5-year return
- +22.3%
- From 52-wk high
- −22.5%
Section 10 · Technical data
What does the technical data say?
Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.
- vs 50-day avg
- Below₹5,284
- vs 200-day avg
- Below₹5,576
- RSI (14)
- 24.1oversold
- MACD histogram
- -9.6
- From 52-wk high
- −22.5%
- From 52-wk low
- 0.0%
- 30-day volatility
- 15.9%ann.
- 6-month return
- −13.0%
Section 11 · Open questions
What should I investigate further?
Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.
Nothing is flagged for review for this company.
Data coverage is complete — 5 years of financials (FY2022–FY2026), full P&L, balance sheet and cash-flow statement, sector metrics fully mapped.
Section 12 · Reference
The numbers
The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 14,136 | 16,301 | 16,769 | 17,943 | 19,152 |
| Total income | 14,359 | 16,516 | 16,983 | 18,170 | 19,376 |
| EBITDA | 2,424 | 3,047 | 3,384 | 3,414 | 3,768 |
| Profit before tax | 2,079 | 3,027 | 2,917 | 2,937 | 3,319 |
| Net profit | 1,516 | 2,316 | 2,134 | 2,178 | 2,537 |
| EPS (₹) | 63.3 | 96.4 | 88.8 | 90.5 | 105.2 |
| Net worth | 2,586 | 3,565 | 3,966 | 4,381 | 5,136 |
| Total debt | 2,481 | 2,981 | 2,041 | 1,225 | 1,358 |
| Operating cash flow | 1,300 | 2,526 | 2,573 | 2,481 | 2,612 |
| Free cash flow | 749 | 1,815 | 2,011 | 2,106 | 2,406 |
| Ratio | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth YoY | — | 15.3 | 2.9 | 7.0 | 6.7 |
| Profit growth YoY | — | 52.8 | -7.9 | 2.0 | 16.5 |
| Profitability | |||||
| EBITDA margin % | 17.1 | 18.7 | 20.2 | 19.0 | 19.7 |
| Net margin % | 10.6 | 14.0 | 12.6 | 12.0 | 13.1 |
| Return on equity % | 58.6 | 75.3 | 56.7 | 52.2 | 53.3 |
| Return on capital % | 43.9 | 48.6 | 49.1 | 53.4 | 56.7 |
| Leverage & cash | |||||
| Debt to equity | 0.96 | 0.84 | 0.51 | 0.28 | 0.26 |
| Cash flow ÷ profit | 0.86 | 1.09 | 1.21 | 1.14 | 1.03 |
| Current ratio | 0.96 | 1.14 | 1.19 | 1.08 | 1.12 |