Pursuant to Regulation 30 read with Clause 15 of Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015, please find enclosed the Transcript of Investors/Analysts Conference ....
BRITANNIA · price
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Britannia reported Q4 FY26 revenue of INR 4,686 crores (7.1% growth) and full-year revenue of INR 18,858 crores (7.5% growth). PAT grew 21.1% in Q4 to 14.5% of revenue, aided by income tax case closures. Volume growth was 5.5% for the quarter. The company faced two main headwinds: West Asia conflict disrupted international business through Strait of Hormuz vessel unavailability, prompting manufacturing shift from Oman to Mundra; and dual pricing issues in wholesale/rural channels where competitors sold at INR 4.5/INR 9 versus Britannia's INR 5/INR 10 during GST transition. Domestic business grew around 9-9.5% excluding these impacts. E-commerce now contributes 6% of domestic sales (12%+ excluding low-value packs), with quick commerce driving premiumization. Raw material outlook shows wheat and palm oil favorable for now (5-6 months covered), but fuel and laminate inflation due to Middle East conflict remains a concern. Management indicated calibrated price increases will be taken.
Management expects the dual pricing issue to normalize in Q1 FY27 with recovery in wholesale/rural channels, while international operations should improve as alternate shipping routes from Mundra become fully operational by mid-May. Margin guidance not explicitly given but cost efficiency programs and selective price hikes aim to mitigate fuel and laminate inflation.