Britannia Industries Limited has informed the Exchange about Investor Presentation
BRITANNIA · price
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Britannia Industries shared its Q1 FY26 (quarter ended 30 June 2025) investor presentation. Revenue grew 9.8% YoY to Rs 4,535 crore, but operating profit dipped 0.7% to Rs 675 crore and PAT (owner's share) rose only 3% to Rs 521 crore due to margin pressure. Operating margin fell to 14.9% from 16.4% in FY25. Key commodity costs surged sharply, with cocoa up 35% and refined palm oil up 45% YoY. Biscuit market share remained flat overall but gained in 5 of 7 regions; focus Hindi-belt states grew in double digits with 65 bps share gain. Adjacency businesses like wafers (grew 2.7x of biscuits), rusk (mid-20s growth for 4th straight quarter), croissant and dairy all posted healthy growths.
Margins are under pressure from rising input costs, and the operating profit decline despite revenue growth is a near-term concern. However, sustained double-digit growth in adjacent categories, rural distribution push, and premiumisation (premium product salience up 310 bps since FY22) provide a positive medium-term outlook. Investors should watch whether margin recovery materialises in coming quarters as commodity costs ease.