{"id":7586,"date":"2015-06-08T17:10:16","date_gmt":"2015-06-08T11:40:16","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=7586"},"modified":"2015-07-02T17:22:07","modified_gmt":"2015-07-02T11:52:07","slug":"britannia-industries-ltd","status":"publish","type":"post","link":"https:\/\/www.fundsindia.com\/blog\/equities\/britannia-industries-ltd\/7586","title":{"rendered":"Britannia Industries Ltd."},"content":{"rendered":"<p style=\"text-align: justify;\">Britannia Industries Ltd (Britannia), a major player in Indian foods market with leadership position in bakery category, was established in 1892. The company operates in two business segments, namely, bakery products and dairy products. The company derives ~90% of its revenue from the biscuits segment while, ~10% of its total sales coming from non-biscuits category and International market. Having operating capacities located in Kolkata, Delhi, Chennai, Mumbai and Uttarakhand, Britannia caters majorly to domestic market.<\/p>\n<div class=\"blog-highlight\" style=\"clear: both; background: #2baae2; border: none; width: 60%; text-align: center; box-shadow: 0 5px 5px rgba(0, 0, 0, 0.5);\"><a style=\"text-decoration: none;\" href=\"http:\/\/www.fundsindia.com\/content\/jsp\/LP\/equity\/equities1.do?ref=blog-button\" target=\"_blank\"> <span style=\"color: #fff; font-weight: bold;\">Open<\/span> <span style=\"color: #fff; font-weight: bold; text-decoration: none;\"> a FREE Account Now! <\/span><\/a><\/div>\n<p align=\"left\"><b>Valuation and view<\/b><\/p>\n<p style=\"text-align: justify;\" align=\"left\"><span style=\"line-height: 1.5em;\">Britannia is well focused towards maintaining its growth trajectory in both the bakery and dairy segments supported by its premium product portfolio. The company\u2019s persistent efforts in upgrading its existing portfolio as well as creating new products every now and then, proves its commitment towards customers. Looking ahead, the widening of consumer food basket with growth in disposable income will give a boost to the company\u2019s growth and open up new success paths. Hence, we believe that the firm will continue to drive profitable growth even in tough milieu driven by strong brands in biscuits category, non-biscuits division gaining traction and focused towards cost efficiency.<\/span><\/p>\n<p style=\"text-align: justify;\">We initiate BUY rating on Britannia. At a current CMP of Rs 2,548.9, Britannia is currently trading at an EV\/EBITDA of 26.1x for FY16E and 17.8x for FY17E. Considering the company\u2019s strong fundamentals, we recommend \u2018BUY\u2019 with a target price of Rs 3,021.7, which implies potential upside of ~19% to the CMP from 1 year perspective.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2015\/06\/Research-Report-Britannia-Industries-Ltd.pdf\">Research Report Britannia Industries Ltd<\/a><\/p>\n<p style=\"text-align: justify;\"><i>Investments in equity shares, debentures, etc., are not obligations of, or guaranteed by Wealth India Financial Services Pvt. Ltd., and are subject to investment risks.\u00a0<a href=\"http:\/\/pages.fundsindia.com\/pages\/disclaimer-equities\/\">Click here<\/a>\u00a0to read our full disclaimer.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Britannia Industries Ltd (Britannia), a major player in Indian foods market with leadership position in bakery category, was established in 1892. The company operates in two business segments, namely, bakery products and dairy products. The company derives ~90% of its revenue from the biscuits segment while, ~10% of its total sales coming from non-biscuits category [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Britannia Industries Ltd.<\/title>\n<meta name=\"description\" content=\"Find the latest research report on Britannia Industries Ltd. 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