BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Britannia Industries Ltd.'s revenue increased 8.7%, with ~2% volume de-growth. The company posted 11% revenue compound annual growth rate over Q1 FY20.
Britannia Industries has been consistently gaining market share over the last several quarters. Gain in rural market share was driven by dealer network expansion (27,000 versus 23,000 in FY21).
Ebitda margin contracted by 270 basis points to 13.5% primarily due to gross margin contraction and higher other expenses - lowest margin since FY16.
New product launches and brand innovations (~4.5% of sales) continue to remain the company's focus. These new products would help reduce dependency on conventional biscuit business and create new levers for growth (contribution expected to grow to 5% in near term).
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR