Arthneeti

Britannia Industries Q1 FY27 Share Price & Earnings Call Analysis

₹4,640.00-0.32% today
Market cap
₹1.12L Cr
P/E
42.91
ROE
53.52%
PEG
5.68
Price to sales
5.73
Debt to equity
0.27
52W high / low
₹6,185 / ₹4,538
Sales growth (5Y)
7.83%
EBITDA margin
18.44%
Net profit margin
13.24%
Promoter holding
50.55%
Sales (last year)
₹19,529 Cr

Britannia Industries is one of Indias leading food companies with a 100 year legacy and annual revenues in excess of Rs. 16000 Cr. Britannia is among the most trusted food brands, and manufactures Indias favorite brands like Good Day, Tiger, NutriChoice, Milk Bikis and Marie Gold which are household names in India. Britannias product portfolio includes Biscuits, Bread, Cakes, Rusk, and Dairy products including Cheese, Beverages, Milk and Yoghurt.

Guidance scorecard · Q1 FY27 call

What Britannia Inds.'s management guided
and where it ranks in Food Products

#19of 30 in
Food Products
Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • Volume Growth: Britannia reported a strong volume growth of approximately 9% in Q1 and exited the quarter with mid-teens growth, indicating a positive momentum expected to continue.
  • Revenue/Sales Growth: The company witnessed 9.5% net sales growth in Q1, with expectations of sustained top-line growth throughout FY '27, supported by improved demand and market share gains.
  • Growth Drivers: Recovery from dual pricing disruptions, targeted interventions, continued media presence, and product innovation are key factors driving growth.
  • Channel Strategy: Focus on both General Trade and Modern Trade, with careful margin management in the latter, and expansion in e-commerce and quick commerce with exclusive offerings.

2 more points from Britannia Inds.'s call on revenue

Create a free account to keep reading this call

Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Britannia Inds. said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Britannia is committed to expanding its portfolio beyond bakery products with work ongoing internally to develop future platforms, particularly in health and wellness and adjacencies.
  • There is an inorganic growth agenda on the table, but any acquisition will be carefully evaluated to ensure it is accretive both numerically and capability-wise; Britannia will avoid buying brands that they can build organically.
  • Investments in brand building and focused media spends are ahead of sales growth, supporting portfolio development and market expansion.
  • Continual upgrades in cost efficiency, renewable energy use, and alternate fuel projects indicate strategic capital allocation toward sustainable manufacturing.
Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Ask what Britannia Inds. said on fundraising →

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what Britannia Inds. said on the order book →

Full Q1 FY27 analysis
Full Food Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Food Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Britannia Inds. rank?

Portfolio builder

Build your portfolio
from the top-ranked stocks

  1. 1. Pick 3–15 stocks
  2. 2. Choose large, mid or small cap and your sectors
  3. 3. Get a portfolio built from the rankings
Build my portfolio

Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Food Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹459 Cr7.9
240%+Up 2%+₹454 Cr79.8
340%+Flat₹1,061 Cr48.2
440%+Flat₹157 Cr10.5
520–40%Up 2%+₹671 Cr48.3
620–40%Up 2%+₹265 Cr7.8

Sign up free to see every company in the sector ranking and track Britannia Inds..

Pro shows every company guiding 40%+ revenue growth →Full Food Products ranking

Financials of Britannia Inds.

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Britannia Inds.

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +4,0234,0114,4334,2564,0694,2504,6684,5934,4324,6224,8414,9704,719
Expenses +3,2223,3223,5623,4373,2863,4973,8883,7503,6323,8703,8893,9923,885
Operating Profit801689871820784753780843801752951977834
OPM %20%17%20%19%19%18%17%18%18%16%20%20%18%
Other Income +60575248573146626357525955
Interest35535331262935453126353319
Depreciation65717278807476828182858585
Profit before tax761622799758735681715778752701884919785
Tax %27%27%27%27%27%26%26%25%26%26%26%26%13%
Net Profit +558455586556537505532582559520655682680
EPS in Rs23.1919.0024.3923.1022.3520.9922.0624.1523.2521.6227.1728.2328.16

Financials of Britannia Inds.

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +7,8588,3979,0549,91411,05511,60013,13614,13616,30116,76917,94319,152
Expenses +6,9887,1747,7768,4139,3229,75610,62711,93513,47013,60314,76615,637
Operating Profit8701,2241,2781,5011,7321,8432,5092,2012,8313,1673,1763,514
OPM %11%15%14%15%16%16%19%16%17%19%18%18%
Other Income +228115151166206263313222597211202224
Interest4558977111144169164139113
Depreciation144113119142162185198201226300313337
Profit before tax9501,2201,3041,5181,7681,8442,5142,0783,0332,9132,9273,289
Tax %28%32%32%34%35%24%26%27%24%27%26%23%
Net Profit +6898258851,0041,1551,3941,8511,5162,3162,1342,1782,537
EPS in Rs28.7134.3636.8541.8348.2358.3377.3863.3196.3988.8490.45105.18
Dividend Payout %28%29%30%30%31%60%204%89%75%83%83%86%

Financials of Britannia Inds.

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital242424242424242424242424
Reserves1,2212,0682,6723,3824,2294,3793,5242,5343,5103,9174,3325,082
Borrowings +1451311252011561,5382,1072,4812,9972,0651,2471,380
Other Liabilities +1,4031,2711,2881,5811,8291,8892,3452,4872,8193,0653,2353,245
Total Liabilities2,7933,4944,1095,1886,2387,8308,0007,5279,3519,0728,8379,732
Fixed Assets +8449501,1601,3461,6881,8781,7931,7532,6552,7712,9042,850
CWIP489030203101401175361051888939
Investments5187884871,0791,4762,8932,7811,7623,3242,7672,8653,610
Other Assets +1,3831,6652,4322,5602,9723,0193,3103,4753,2663,3462,9783,233
Total Assets2,7933,4944,1095,1886,2387,8308,0007,5279,3519,0728,8379,732

Financials of Britannia Inds.

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +5849594411,2491,1561,4851,8511,3002,5262,5732,4812,612
Cash from Investing Activity +-450-705-150-957-852-1,526459914-1,50748587-757
Cash from Financing Activity +-181-246-295-232-35358-2,244-2,246-1,028-2,839-2,762-1,783
Net Cash Flow-478-460-491766-32-9219-19472
Free Cash Flow631710898287561,2411,6117521,8932,0852,1102,408
CFO/OP102%111%66%116%101%108%99%86%115%105%100%98%

Financials of Britannia Inds.

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days677111310797999
Inventory Days313243394339525745454344
Days Payable555649596355635555636062
Cash Conversion Cycle-17-161-9-7-6-410-2-9-9-9
Working Capital Days-22-5281727-1-22-31-31-30-233
ROCE %66%68%52%47%44%37%45%41%49%49%53%56%

Guidance history

How Britannia Inds.'s guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlanned——
Q4 FY26 call →0–10%FlatPlanned—Flat
Q3 FY26 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%Flat———

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

15out of 100

Momentum score · price trend

15 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−20.8%37%
Last 6 months−19.0%23%
Last 3 months−14.3%34%

The price is 26.4% below its all-time high of ₹6,300.5 (11 Sept 2025). Stocks more than 20% below their peak have their score halved, so 31 became 15.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Britannia Inds.: 0.4 × 37 + 0.4 × 23 + 0.2 × 34 = 31, halved to 15 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Britannia Inds.'s management said in earlier quarters

Others in Food Products this season

  • Prataap Snacks Ltd (Q2 FY27)

    Q2 FY27 income from operations was ₹540.95 crore, a 25.9% increase year-on-year (YoY). Key results statement takeaways from Prataap Snacks Ltd's Q2 FY27 results

  • Madhusudan Masa (Q2 FY27)

    4,158.28 lakh (Q2 2025), approximately +118% YoY. Key results statement takeaways from Madhusudan Masala Ltd's Q2 FY27 results statement — and how it ranks agai

  • Vadilal Industries Ltd (Q2 FY27)

    Revenue from operations for the quarter ended September 30, 2026: ₹462.56 crore (Consolidated, Page 11) . Key results statement takeaways from Vadilal Industrie

  • Wardwizard Foods & Beverages Ltd (Q1 FY27)

    Revenue for Q1 FY27 (June 2026 quarter) is ₹17.03 Cr, up from ₹13.20 Cr in Q1 FY26, reflecting a strong year-on-year growth. Key investor presentation takeaways

Compare:vs Nestle Indiavs Milky Mist Dairy Food Ltdvs Hatsun Agro Product Ltd