BBTC
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Colgate, Britannia among top gainers from India's consumer tax cuts, analysts say
** Analysts at Nomura and Jefferies say Colgate COLG.NS, Britannia Industries BRIT.NS and Nestle India NEST.NS will be the key beneficiaries of tax cuts on everyday items
** Government slashed rates to 5% on a wide range of everyday items including personal care products, household goods and packaged foods.
** Colgate, up 3.6%, was the top gainer on Nifty FMCG index .NIFTYFMCG which rose 0.7%
** Britannia, Dabur and Nestle were also among the top gainers on the index, gaining 3%, 2.2% and 1.7%, respectively
** Nomura expects 100% of COLG's portfolio to benefit from tax cuts, while Jefferies estimates that number to be 95%
** 85% of Britannia's portfolio to benefit - Nomura and Jefferies
** Analysts flag that around 70% of Nestle's and 50%-60% of Dabur's portfolio to benefit
** Median PT for Colgate is 2472 rupees, Britannia's at 5900 rupees; Nestle and Dabur at 1200 and 545 rupees, respectively - data complied by LSEG
Key beneficiaries of India's GST rate reduction https://reut.rs/4m0eyfY
Key beneficiaries of India's GST rate reduction https://reut.rs/47WpoQQ
(Reporting by Nishit Navin in Bengaluru)
** Analysts at Nomura and Jefferies say Colgate COLG.NS, Britannia Industries BRIT.NS and Nestle India NEST.NS will be the key beneficiaries of tax cuts on everyday items
** Government slashed rates to 5% on a wide range of everyday items including personal care products, household goods and packaged foods.
** Colgate, up 3.6%, was the top gainer on Nifty FMCG index .NIFTYFMCG which rose 0.7%
** Britannia, Dabur and Nestle were also among the top gainers on the index, gaining 3%, 2.2% and 1.7%, respectively
** Nomura expects 100% of COLG's portfolio to benefit from tax cuts, while Jefferies estimates that number to be 95%
** 85% of Britannia's portfolio to benefit - Nomura and Jefferies
** Analysts flag that around 70% of Nestle's and 50%-60% of Dabur's portfolio to benefit
** Median PT for Colgate is 2472 rupees, Britannia's at 5900 rupees; Nestle and Dabur at 1200 and 545 rupees, respectively - data complied by LSEG
Key beneficiaries of India's GST rate reduction https://reut.rs/4m0eyfY
Key beneficiaries of India's GST rate reduction https://reut.rs/47WpoQQ
(Reporting by Nishit Navin in Bengaluru)
Indian biscuit, snacks and toothpaste makers to benefit most from proposed tax cuts, Nomura says
** Proposed reductions in India's goods and services tax (GST) will drive formalization of consumer goods industries, Nomura says
** Marico MRCO.NS, Tata Consumer TACN.NS and Britannia Industries BRIT.NS are brokerage's top picks
** BRIT, with 80% of revenue from biscuits and Colgate-Palmolive (India) with 80% revenue from toothpastes COLG.NS to benefit most from tax rate cut on staples to 5% from 18%
** Quick service restaurants, thanks to reduced tax on key material cheese, as well as snacks --Bikaji BIKA.NS-- and stationary makers --ITC ITC.NS-- to benefit most from tax rate cut to 5% from 12%
** Meanwhile, if GST rate on cigarettes rises to 40% and all other taxes are unchanged, Nomura argues this would lead to a roughly 7% increase in effective tax burden for companies like ITC, "which we believe will be passed on to consumers without any major backlash."
** However, ITC could see lower volumes if main GST rate as well as other taxes are raised on cigarettes -- Nomura
** Indian consumer stocks .NIFTYFMCG have risen 4% since Prime Minister Narendra Modi announced tax cut plans on August 15
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
** Proposed reductions in India's goods and services tax (GST) will drive formalization of consumer goods industries, Nomura says
** Marico MRCO.NS, Tata Consumer TACN.NS and Britannia Industries BRIT.NS are brokerage's top picks
** BRIT, with 80% of revenue from biscuits and Colgate-Palmolive (India) with 80% revenue from toothpastes COLG.NS to benefit most from tax rate cut on staples to 5% from 18%
** Quick service restaurants, thanks to reduced tax on key material cheese, as well as snacks --Bikaji BIKA.NS-- and stationary makers --ITC ITC.NS-- to benefit most from tax rate cut to 5% from 12%
** Meanwhile, if GST rate on cigarettes rises to 40% and all other taxes are unchanged, Nomura argues this would lead to a roughly 7% increase in effective tax burden for companies like ITC, "which we believe will be passed on to consumers without any major backlash."
** However, ITC could see lower volumes if main GST rate as well as other taxes are raised on cigarettes -- Nomura
** Indian consumer stocks .NIFTYFMCG have risen 4% since Prime Minister Narendra Modi announced tax cut plans on August 15
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
India tax cuts not the key factor for consumer stock upgrades, BofA says
** Bank of America says company-specific factors, not GST cuts, are key for growth and earnings upgrades for consumer firms
** Nifty FMCG Index .NIFTYFMCG is up nearly 1%, driven by a near 4% rise in Britannia Industries BRIT.NS on hopes of GST cut on biscuits
** BofA says if only the 12% GST slab is subsumed with no change to 5% and 18% slabs, the direct impact would be limited
** But moving some categories from 18% slab to lower could imply higher upside
** Brokerage remains selective in the consumer space, prefers Titan TITN.NS among discretionaries; says risk/reward is favourable for Varun Beverages VARB.NS and United Breweries UBBW.NS
** Brokerage more cautious on Avenue Supermarts AVEU.NS and quick service restaurant stocks like Westlife Foodworld WEST.NS, Devyani International DEVY.NS and Sapphire Foods SAPI.NS
** FMCG index is down 1% in 2025 so far, lagging the benchmark Nifty 50's .NSEI 5% rise
(Reporting by Nandan Mandayam and Nishit Navin in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
** Bank of America says company-specific factors, not GST cuts, are key for growth and earnings upgrades for consumer firms
** Nifty FMCG Index .NIFTYFMCG is up nearly 1%, driven by a near 4% rise in Britannia Industries BRIT.NS on hopes of GST cut on biscuits
** BofA says if only the 12% GST slab is subsumed with no change to 5% and 18% slabs, the direct impact would be limited
** But moving some categories from 18% slab to lower could imply higher upside
** Brokerage remains selective in the consumer space, prefers Titan TITN.NS among discretionaries; says risk/reward is favourable for Varun Beverages VARB.NS and United Breweries UBBW.NS
** Brokerage more cautious on Avenue Supermarts AVEU.NS and quick service restaurant stocks like Westlife Foodworld WEST.NS, Devyani International DEVY.NS and Sapphire Foods SAPI.NS
** FMCG index is down 1% in 2025 so far, lagging the benchmark Nifty 50's .NSEI 5% rise
(Reporting by Nandan Mandayam and Nishit Navin in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
India's Britannia falls as Q1 results show margin pressure
** Indian biscuit maker Britannia Industries BRIT.NS down ~2% to 5,523 rupees following Q1 results
** 'Bourbon' biscuits maker misses Q1 profit estimates as cost inflation in key commodities and high competition crimp margins
** Macquarie says Britannia's comments, pointing to a heightened competitive landscape across categories, are concerning
** Adds, EBITDA, which was flat y/y came below its estimates
** BRIT rated 'hold' on average by 34 analysts; media PT at 5,824, implying a 5.4% upside to current price - as per data compiled by LSEG
** YTD, Britannia shares up ~16%
(Reporting by Ananta Agarwal in Bengaluru)
** Indian biscuit maker Britannia Industries BRIT.NS down ~2% to 5,523 rupees following Q1 results
** 'Bourbon' biscuits maker misses Q1 profit estimates as cost inflation in key commodities and high competition crimp margins
** Macquarie says Britannia's comments, pointing to a heightened competitive landscape across categories, are concerning
** Adds, EBITDA, which was flat y/y came below its estimates
** BRIT rated 'hold' on average by 34 analysts; media PT at 5,824, implying a 5.4% upside to current price - as per data compiled by LSEG
** YTD, Britannia shares up ~16%
(Reporting by Ananta Agarwal in Bengaluru)
Indian biscuit maker Britannia misses profit estimates, but flags urban demand uptick
Rewrites throughout with more earnings commentary, background and details
Aug 5 (Reuters) - Britannia Industries BRIT.NS posted first-quarter profit below estimates on Tuesday, but the Indian biscuit maker said urban consumption — dull for a few quarters — is picking up.
The seller of 'Marie Gold' and 'Bourbon' biscuits joins other domestic consumer goods makers such as Hindustan Unilever HLL.NS and ITC ITC.NS in forecasting early signs of a recovery in urban demand, aided by easing local inflation.
India's annual retail inflation slowed every month in the quarter, easing to a six-year low in June at 2.1%. That helped spur a "marginal uptick in consumption across both urban and rural markets," said Varun Berry, managing director and chief executive.
Britannia's quarterly sales grew 9.8% to 45.35 billion rupees ($516.5 million). The firm had previously flagged rise in popular demand for packaged food and confectionery items such as croissants, wafers and flavoured shakes - usually more likely to be bought on impulse.
But total spends rose 10.4%, led by a 15% jump in raw material costs. Britannia has been hiking prices to partly offset the higher costs of raw materials such as cocoa, flour and palm oil.
Profits in the reported quarter came in at 5.21 billion rupees, up 3% on-year, but below analysts' average estimate of 5.7 billion rupees, according to data compiled by LSEG.
($1 = 87.8100 Indian rupees)
(Reporting by Ananta Agarwal and Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman and Sahal Muhammed)
(([email protected];))
Rewrites throughout with more earnings commentary, background and details
Aug 5 (Reuters) - Britannia Industries BRIT.NS posted first-quarter profit below estimates on Tuesday, but the Indian biscuit maker said urban consumption — dull for a few quarters — is picking up.
The seller of 'Marie Gold' and 'Bourbon' biscuits joins other domestic consumer goods makers such as Hindustan Unilever HLL.NS and ITC ITC.NS in forecasting early signs of a recovery in urban demand, aided by easing local inflation.
India's annual retail inflation slowed every month in the quarter, easing to a six-year low in June at 2.1%. That helped spur a "marginal uptick in consumption across both urban and rural markets," said Varun Berry, managing director and chief executive.
Britannia's quarterly sales grew 9.8% to 45.35 billion rupees ($516.5 million). The firm had previously flagged rise in popular demand for packaged food and confectionery items such as croissants, wafers and flavoured shakes - usually more likely to be bought on impulse.
But total spends rose 10.4%, led by a 15% jump in raw material costs. Britannia has been hiking prices to partly offset the higher costs of raw materials such as cocoa, flour and palm oil.
Profits in the reported quarter came in at 5.21 billion rupees, up 3% on-year, but below analysts' average estimate of 5.7 billion rupees, according to data compiled by LSEG.
($1 = 87.8100 Indian rupees)
(Reporting by Ananta Agarwal and Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman and Sahal Muhammed)
(([email protected];))
India's Britannia defies market weakness on upbeat Q4 report
** Britannia Industries BRIT.NS climb 0.8%; consumer goods and benchmark indexes down over 1%
** Biscuit maker's Q4 profit rises due to price hikes, which Nomura pegs at 6%
** Brokerages say 9% rev growth of 9% largely met estimates, while profit growth of 4% beat view
** Most analysts hold ratings; avg rating is equivalent to "buy", similar to most on 15-member Nifty FMCG .NIFTYFMCG
** Stock has gained 15% YTD, second-highest on index that is down 2.4% this year
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
** Britannia Industries BRIT.NS climb 0.8%; consumer goods and benchmark indexes down over 1%
** Biscuit maker's Q4 profit rises due to price hikes, which Nomura pegs at 6%
** Brokerages say 9% rev growth of 9% largely met estimates, while profit growth of 4% beat view
** Most analysts hold ratings; avg rating is equivalent to "buy", similar to most on 15-member Nifty FMCG .NIFTYFMCG
** Stock has gained 15% YTD, second-highest on index that is down 2.4% this year
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
India's Eternal, Jio Financial to see $591 mln inflows from Nifty 50 inclusion
** India's Eternal ZOMT.NS, earlier known as Zomato, and Jio Financial Services JIOF.NS to see net inflows of $591 million on entry in benchmark Nifty 50 .NSEI, says Nuvama
** ZOMT and JIOF to get $391 mln and $200 mln inflows, respectively, while replacements Britannia Industries BRIT.NS and Bharat Petroleum BPCL.NS to see net outflows of $153 mln and $145 mln, respectively
** Changes effective close of March 27; changes in key indexes affects positioning of passive funds
** Indian Hotels IHTL.NS to see $85 mln inflows on Nifty Next 50 .NN50 inclusion and Power Grid Corp of India PGRD.NS to see $49 mln inflows on CPSE index .NICPSE inclusion, as per Nuvama
** IHTL and PGRD up 1% and 1.4%, respectively, on the day, while JIOF flat and ZOMT falls 2%
(Reporting by Vivek Kumar M)
(([email protected];))
** India's Eternal ZOMT.NS, earlier known as Zomato, and Jio Financial Services JIOF.NS to see net inflows of $591 million on entry in benchmark Nifty 50 .NSEI, says Nuvama
** ZOMT and JIOF to get $391 mln and $200 mln inflows, respectively, while replacements Britannia Industries BRIT.NS and Bharat Petroleum BPCL.NS to see net outflows of $153 mln and $145 mln, respectively
** Changes effective close of March 27; changes in key indexes affects positioning of passive funds
** Indian Hotels IHTL.NS to see $85 mln inflows on Nifty Next 50 .NN50 inclusion and Power Grid Corp of India PGRD.NS to see $49 mln inflows on CPSE index .NICPSE inclusion, as per Nuvama
** IHTL and PGRD up 1% and 1.4%, respectively, on the day, while JIOF flat and ZOMT falls 2%
(Reporting by Vivek Kumar M)
(([email protected];))
India's Britannia says strike disrupts Gujarat plant operations
March 24 (Reuters) - Indian biscuit maker Britannia Industries <BRIT.NS> said on Monday that operations at its Jhagadia plant in Gujarat have been partially affected due to a strike.
The company is in continuous discussions with workers to resolve the strike, which began on Monday, the company said in an exchange filing.
The impact is still being assessed, Britannia said, but stopped short of disclosing details such as the number of workers on strike or the facility's contribution to overall revenue when Reuters reached out for comment.
Britannia has about a dozen plants in India, according to the company's latest annual report.
Shares of the company had closed 0.4% lower on Monday.
(Reporting by Praveen Paramasivam in Chennai and Ashish Chandra in Bengaluru; Editing by Shailesh Kuber)
(([email protected]; +91 7982114624;))
March 24 (Reuters) - Indian biscuit maker Britannia Industries <BRIT.NS> said on Monday that operations at its Jhagadia plant in Gujarat have been partially affected due to a strike.
The company is in continuous discussions with workers to resolve the strike, which began on Monday, the company said in an exchange filing.
The impact is still being assessed, Britannia said, but stopped short of disclosing details such as the number of workers on strike or the facility's contribution to overall revenue when Reuters reached out for comment.
Britannia has about a dozen plants in India, according to the company's latest annual report.
Shares of the company had closed 0.4% lower on Monday.
(Reporting by Praveen Paramasivam in Chennai and Ashish Chandra in Bengaluru; Editing by Shailesh Kuber)
(([email protected]; +91 7982114624;))
Bombay Burmah Trading Corporation Says Board Approves Sale Of Land In Tamil Nadu To Annai Group
March 17 (Reuters) - Bombay Burmah Trading Corporation, Ltd BBRM.NS:
BOARD APPROVES SALE OF LAND IN TAMIL NADU TO ANNAI GROUP
Source text: ID:nBSE17gHMQ
Further company coverage: BBRM.NS
(([email protected];;))
March 17 (Reuters) - Bombay Burmah Trading Corporation, Ltd BBRM.NS:
BOARD APPROVES SALE OF LAND IN TAMIL NADU TO ANNAI GROUP
Source text: ID:nBSE17gHMQ
Further company coverage: BBRM.NS
(([email protected];;))
India's Britannia Industries dips as CEO Kohli resigns
** Shares of Britannia Industries BRIT.NS trim gains to trade 0.5% lower after co announces CEO resignation
** The consumer goods giant says CEO Rajneet Singh Kohli has resigned, effective March 14
** Stock among the 3 decliners in the 15 member Nifty FMCG index .NIFTYFMCG, which is up 1.17%; BRIT was up as much as 1.7% before announcement
** Analysts covering BRIT on avg have a "buy" rating, same as rivals Hindustan Unilever HLL.NS and Nestle India NEST.NS - LSEG data
** The stock had gained ~24% during his tenure, which began late Sept. 2022
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
** Shares of Britannia Industries BRIT.NS trim gains to trade 0.5% lower after co announces CEO resignation
** The consumer goods giant says CEO Rajneet Singh Kohli has resigned, effective March 14
** Stock among the 3 decliners in the 15 member Nifty FMCG index .NIFTYFMCG, which is up 1.17%; BRIT was up as much as 1.7% before announcement
** Analysts covering BRIT on avg have a "buy" rating, same as rivals Hindustan Unilever HLL.NS and Nestle India NEST.NS - LSEG data
** The stock had gained ~24% during his tenure, which began late Sept. 2022
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
India's Britannia rises on positive volume momentum, lower expenses in Q3
** Shares of Indian biscuit maker Britannia Industries BRIT.NS up as much as 2.2% on Q3 results to 5065 rupees
** Co reports 6% volume growth y/y in despite "ongoing subdued demand" and "increased competitive pressures"
** Net profit growth of 4.8% aided by lower employee costs and advertising spends, analysts say
** Gross margin contraction of more than 500bps higher than expected due to inflation in key commodities - JPMorgan
** Analysts see green shoots from trade promotions and distribution network expansion aiding volume growth amid ongoing margin pressure
** Stock rated "Hold" on avg by 33 analysts - LSEG
** Avg PT of 5421.88 rupees provides a 7.7% upside to current stock price
(Reporting by Ananta Agarwal in Bengaluru)
** Shares of Indian biscuit maker Britannia Industries BRIT.NS up as much as 2.2% on Q3 results to 5065 rupees
** Co reports 6% volume growth y/y in despite "ongoing subdued demand" and "increased competitive pressures"
** Net profit growth of 4.8% aided by lower employee costs and advertising spends, analysts say
** Gross margin contraction of more than 500bps higher than expected due to inflation in key commodities - JPMorgan
** Analysts see green shoots from trade promotions and distribution network expansion aiding volume growth amid ongoing margin pressure
** Stock rated "Hold" on avg by 33 analysts - LSEG
** Avg PT of 5421.88 rupees provides a 7.7% upside to current stock price
(Reporting by Ananta Agarwal in Bengaluru)
India's Britannia beats profit estimates on price increases
Feb 6 (Reuters) - Indian biscuit maker Britannia Industries BRIT.NS beat third-quarter profit estimates on Thursday, as price hikes helped offset the impact of rise in commodity prices.
The company, which sells 'Jim Jam' and 'NutriChoice' biscuits, reported a 5% increase in consolidated net profit to 5.82 billion rupees ($66.43 million) for the three months ended December 31.
Analysts, on average, had expected a profit of 5.21 billion rupees, according to estimates compiled by LSEG.
($1 = 87.6130 Indian rupees)
(Reporting by Ananta Agarwal in Bengaluru and Praveen Paramasivam in Chennai; Editing by Mrigank Dhaniwala)
(([email protected];))
Feb 6 (Reuters) - Indian biscuit maker Britannia Industries BRIT.NS beat third-quarter profit estimates on Thursday, as price hikes helped offset the impact of rise in commodity prices.
The company, which sells 'Jim Jam' and 'NutriChoice' biscuits, reported a 5% increase in consolidated net profit to 5.82 billion rupees ($66.43 million) for the three months ended December 31.
Analysts, on average, had expected a profit of 5.21 billion rupees, according to estimates compiled by LSEG.
($1 = 87.6130 Indian rupees)
(Reporting by Ananta Agarwal in Bengaluru and Praveen Paramasivam in Chennai; Editing by Mrigank Dhaniwala)
(([email protected];))
India's Markets Regulator Says Bombay Burmah Trading, Others Settle For Violation Of Takeovers Norms
Jan 10 (Reuters) -
BOMBAY BURMAH TRADING CO, 17 OTHERS SETTLE WITH SEBI FOR VIOLATION OF ACQUISITIONS,TAKEOVERS REGULATION
(([email protected];))
Jan 10 (Reuters) -
BOMBAY BURMAH TRADING CO, 17 OTHERS SETTLE WITH SEBI FOR VIOLATION OF ACQUISITIONS,TAKEOVERS REGULATION
(([email protected];))
India's Britannia Industries set for worst month in over 18 yrs after downbeat Q2
** Shares of Britannia Industries Ltd BRIT.NS down 13.8% in November, set for their biggest monthly drop since June 2006
** Stock currently up 0.2% at 4,934.95 rupees
** BRIT among top 5 biggest monthly pct losers on blue-chip Nifty 50 index as well as FMCG stocks .NIFTYFMCG that are down 1.2% and 2.5%
** BRIT reported smaller-than-expected Q2 profit in mid-Nov due to poor demand from inflation-wary urban customers, sending its shares down by more than 12% in two sessions
** Downbeat results also led stock to its worst week in 24 years; the stock was up by just 0.35% on the day before the results
** Avg rating on stock has fallen to "hold" from "buy" following post-results downgrades - LSEG
** Stock has 13 "hold" ratings, its most in at least two years
** YTD, BRIT down ~8%, among worst-performing stocks on Nifty 50 and Nifty FMCG index that are up 11% and ~2%, respectively
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
** Shares of Britannia Industries Ltd BRIT.NS down 13.8% in November, set for their biggest monthly drop since June 2006
** Stock currently up 0.2% at 4,934.95 rupees
** BRIT among top 5 biggest monthly pct losers on blue-chip Nifty 50 index as well as FMCG stocks .NIFTYFMCG that are down 1.2% and 2.5%
** BRIT reported smaller-than-expected Q2 profit in mid-Nov due to poor demand from inflation-wary urban customers, sending its shares down by more than 12% in two sessions
** Downbeat results also led stock to its worst week in 24 years; the stock was up by just 0.35% on the day before the results
** Avg rating on stock has fallen to "hold" from "buy" following post-results downgrades - LSEG
** Stock has 13 "hold" ratings, its most in at least two years
** YTD, BRIT down ~8%, among worst-performing stocks on Nifty 50 and Nifty FMCG index that are up 11% and ~2%, respectively
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
India's Britannia falls after food authority issues notice
** Shares of consumer goods maker Britannia Industries BRIT.NS fall 1.9% to 4,798.5 rupees, their lowest level since early-May
** BRIT top loser on Nifty FMCG index .NIFTYFMCG, which is down 0.5%
** Co on Tuesday said the Food Safety and Standards Authority of India (FSSAI) issued a notice over the use of a preservative in one of the batches of its product
** Co did not disclose which product was flagged by FSSAI, but says it expects no material impact on financials or operations
** More than 448,000 shares change hands, 1.1x its 30-day avg
** Avg rating of 33 analysts is a "hold"; median PT at 5,435 rupees - LSEG data
** BRIT is down 16% this month, on track for its worst month since June 2006
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; +91 8078332441))
** Shares of consumer goods maker Britannia Industries BRIT.NS fall 1.9% to 4,798.5 rupees, their lowest level since early-May
** BRIT top loser on Nifty FMCG index .NIFTYFMCG, which is down 0.5%
** Co on Tuesday said the Food Safety and Standards Authority of India (FSSAI) issued a notice over the use of a preservative in one of the batches of its product
** Co did not disclose which product was flagged by FSSAI, but says it expects no material impact on financials or operations
** More than 448,000 shares change hands, 1.1x its 30-day avg
** Avg rating of 33 analysts is a "hold"; median PT at 5,435 rupees - LSEG data
** BRIT is down 16% this month, on track for its worst month since June 2006
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; +91 8078332441))
India's Britannia eyes worst week in 24 years after bleak Q2 results
** Britannia Industries BRIT.NS falls 2.5% to 4,920 rupees, lowest in six months
** Stock down 14% this week, set for worst week since January 2000
** BRIT top loser and worst performing stock this week on the benchmark Nifty 50 index .NSEI, which is down 0.04%
** Indian markets are closed on Friday for a holiday
** Consumer goods major posted smaller-than-expected Q2 profit and rev on Monday amid slump in urban consumption
** At least 24 analysts slash PT post results; four downgrade rating
** BRIT rated "hold" on avg now vs "buy" before results; median PT now at 5,450 rupees vs 5,800 rupees earlier - LSEG
** Stock down ~8% YTD
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
** Britannia Industries BRIT.NS falls 2.5% to 4,920 rupees, lowest in six months
** Stock down 14% this week, set for worst week since January 2000
** BRIT top loser and worst performing stock this week on the benchmark Nifty 50 index .NSEI, which is down 0.04%
** Indian markets are closed on Friday for a holiday
** Consumer goods major posted smaller-than-expected Q2 profit and rev on Monday amid slump in urban consumption
** At least 24 analysts slash PT post results; four downgrade rating
** BRIT rated "hold" on avg now vs "buy" before results; median PT now at 5,450 rupees vs 5,800 rupees earlier - LSEG
** Stock down ~8% YTD
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
India's Britannia eyes worst day in 2-1/2 yrs on Q2 earnings miss
Updates share levels, adds analyst comments
** Britannia Industries BRIT.NS slides 6% to 5,108.9 rupees, the biggest one-day pct fall since March 8, 2022
** Stock top loser on Nifty 50 index .NSEI, which is down 0.92%
** Biscuit maker posts smaller-than-expected Q2 profit, hurt by weaker demand for consumer goods, particularly in urban areas
** Co hurt by steep rise in prices of wheat, palm oil, and cocoa- J.P. Morgan
** Volumes impacted by tepid demand scenario given severe food inflation - Nomura
** Q2 rev up 5% to 46.68 bln rupees ($553 mln), but below market estimates of 47.39 bln rupees - LSEG data
** Stock rated "buy" on avg; median PT is 5,800 rupees
** Day's drop negated yearly gain, stock now down 5% YTD
($1 = 84.3930 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
Updates share levels, adds analyst comments
** Britannia Industries BRIT.NS slides 6% to 5,108.9 rupees, the biggest one-day pct fall since March 8, 2022
** Stock top loser on Nifty 50 index .NSEI, which is down 0.92%
** Biscuit maker posts smaller-than-expected Q2 profit, hurt by weaker demand for consumer goods, particularly in urban areas
** Co hurt by steep rise in prices of wheat, palm oil, and cocoa- J.P. Morgan
** Volumes impacted by tepid demand scenario given severe food inflation - Nomura
** Q2 rev up 5% to 46.68 bln rupees ($553 mln), but below market estimates of 47.39 bln rupees - LSEG data
** Stock rated "buy" on avg; median PT is 5,800 rupees
** Day's drop negated yearly gain, stock now down 5% YTD
($1 = 84.3930 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
India's Britannia misses profit estimates as urban demand slows
Nov 11 (Reuters) - Indian biscuit maker Britannia Industries BRIT.NS posted a surprise drop in second-quarter profit on Monday, hurt by weaker demand in urban areas amid high inflation.
The company, which sells Jim Jam and NutriChoice biscuits, reported a consolidated net profit of 5.31 billion rupees ($62.95 million) for the three months ended Sept. 30, compared with 5.88 billion rupees a year earlier.
Analysts, on average, had expected a profit of 6.22 billion rupees, according to estimates compiled by LSEG.
($1 = 84.3580 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru and Praveen Paramasivam in Chennai; Editing by Abinaya Vijayaraghavan)
(([email protected];))
Nov 11 (Reuters) - Indian biscuit maker Britannia Industries BRIT.NS posted a surprise drop in second-quarter profit on Monday, hurt by weaker demand in urban areas amid high inflation.
The company, which sells Jim Jam and NutriChoice biscuits, reported a consolidated net profit of 5.31 billion rupees ($62.95 million) for the three months ended Sept. 30, compared with 5.88 billion rupees a year earlier.
Analysts, on average, had expected a profit of 6.22 billion rupees, according to estimates compiled by LSEG.
($1 = 84.3580 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru and Praveen Paramasivam in Chennai; Editing by Abinaya Vijayaraghavan)
(([email protected];))
India's Bombay Burmah Trading Corp down after state tax authority initates search
** Shares of Bombay Burmah Trading Corp BBRM.NS down 1.6% at 1,601.25 rupees
** Wadia Group-owned co said on Thursday Maharashtra state tax authority initated search at co's office
** Stock had fallen as much as 2.7% before paring some losses
** BBRM on track for first monthly decline since Aug. 2023 if trend holds; down 8.5% so far in March
(Reporting by Varun Vyas in Bengaluru)
** Shares of Bombay Burmah Trading Corp BBRM.NS down 1.6% at 1,601.25 rupees
** Wadia Group-owned co said on Thursday Maharashtra state tax authority initated search at co's office
** Stock had fallen as much as 2.7% before paring some losses
** BBRM on track for first monthly decline since Aug. 2023 if trend holds; down 8.5% so far in March
(Reporting by Varun Vyas in Bengaluru)
Bombay Burmah Trading Corp Says Maharashtra Tax Authority Initiated Search At Co's Office
March 14 (Reuters) - Bombay Burmah Trading Corporation Ltd BBRM.NS:
ASSISTANT COMMISSIONER OF STATE TAX, MAHARASHTRA INITIATED SEARCH AT CORPORATION'S REGISTERED OFFICE
SEARCH UNDER SECTION 67 OF MAHARASHTRA GOODS AND SERVICES TAX ACT, 2017
Source text for Eikon: ID:nBSEblG9Pj
Further company coverage: BBRM.NS
(([email protected];))
March 14 (Reuters) - Bombay Burmah Trading Corporation Ltd BBRM.NS:
ASSISTANT COMMISSIONER OF STATE TAX, MAHARASHTRA INITIATED SEARCH AT CORPORATION'S REGISTERED OFFICE
SEARCH UNDER SECTION 67 OF MAHARASHTRA GOODS AND SERVICES TAX ACT, 2017
Source text for Eikon: ID:nBSEblG9Pj
Further company coverage: BBRM.NS
(([email protected];))
Bombay Burmah Trading Corporation Dec-Quarter Consol Net Profit 4.57 Billion Rupees
Feb 13 (Reuters) - Bombay Burmah Trading Corporation Ltd BBRM.NS:
BOMBAY BURMAH TRADING CORPORATION DEC-QUARTER CONSOL NET PROFIT 4.57 BILLION RUPEES VERSUS PROFIT 1.58 BILLION RUPEES
BOMBAY BURMAH TRADING CORPORATION DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 43.37 BILLION RUPEES VERSUS 42.8 BILLION RUPEES
Source text for Eikon: ID:nBSE5CJ9hD
Further company coverage: BBRM.NS
(([email protected];))
Feb 13 (Reuters) - Bombay Burmah Trading Corporation Ltd BBRM.NS:
BOMBAY BURMAH TRADING CORPORATION DEC-QUARTER CONSOL NET PROFIT 4.57 BILLION RUPEES VERSUS PROFIT 1.58 BILLION RUPEES
BOMBAY BURMAH TRADING CORPORATION DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 43.37 BILLION RUPEES VERSUS 42.8 BILLION RUPEES
Source text for Eikon: ID:nBSE5CJ9hD
Further company coverage: BBRM.NS
(([email protected];))
Indian biscuit maker Britannia rises on margins surprise
By Praveen Paramasivam
CHENNAI, Nov 2 (Reuters) - Shares in India's Britannia Industries BRIT.NS climbed as much as 3.9% on Thursday, a day after reporting quarterly earnings above market expectations the biscuits maker kept a tight lid on costs amid easing commodities prices.
The Little Hearts maker has been focusing more on reducing product damages during transport, ensuring trucks are more fully loaded and setting up new plants.
Prices of raw materials including palm oil, laminates and corrugated boxes have also come off their highs, setting up Britannia for gross margin expansion that "surprised positively", JM Financial analyst Richard Liu said.
For the second quarter ended Sept. 30, Britannia's gross margin was at 42.9%, up from 41.9% in the first quarter and 38.9% a year earlier, according to LSEG data.
However, Britannia Managing Director Varun Berry stopped short of forecasting third-quarter margins on an earnings call on Thursday.
"The Middle East (is) in flames and Russia and Ukraine (are) going at each other. We don't know where this situation is leading up to."
Oil prices have risen roughly 6% since the start of the Israel-Hamas war, whose escalation may require policymakers in developing countries to take steps to manage a potential increase in headline inflation, the World Bank said earlier this week.
Analysts, however, expect Britannia to weather commodity price increases with effective cost-cutting measures.
Britannia also topped second-quarter earnings estimates on new biscuit launches and its move to ramp up distribution including in rural centres.
However, Britannia will now need to fend of competition from smaller rivals who have now re-entered the fray for market share.
Britannia shares, set to end higher after three sessions of losses, are on track for their best day in nearly five months. The stock has climbed about 5% this year, underperforming the Nifty fast-moving consumer goods .NIFTYFMCG index's 16% rise.
(Reporting by Praveen Paramasivam in Chennai)
(([email protected]; +91 867-525-3569;))
By Praveen Paramasivam
CHENNAI, Nov 2 (Reuters) - Shares in India's Britannia Industries BRIT.NS climbed as much as 3.9% on Thursday, a day after reporting quarterly earnings above market expectations the biscuits maker kept a tight lid on costs amid easing commodities prices.
The Little Hearts maker has been focusing more on reducing product damages during transport, ensuring trucks are more fully loaded and setting up new plants.
Prices of raw materials including palm oil, laminates and corrugated boxes have also come off their highs, setting up Britannia for gross margin expansion that "surprised positively", JM Financial analyst Richard Liu said.
For the second quarter ended Sept. 30, Britannia's gross margin was at 42.9%, up from 41.9% in the first quarter and 38.9% a year earlier, according to LSEG data.
However, Britannia Managing Director Varun Berry stopped short of forecasting third-quarter margins on an earnings call on Thursday.
"The Middle East (is) in flames and Russia and Ukraine (are) going at each other. We don't know where this situation is leading up to."
Oil prices have risen roughly 6% since the start of the Israel-Hamas war, whose escalation may require policymakers in developing countries to take steps to manage a potential increase in headline inflation, the World Bank said earlier this week.
Analysts, however, expect Britannia to weather commodity price increases with effective cost-cutting measures.
Britannia also topped second-quarter earnings estimates on new biscuit launches and its move to ramp up distribution including in rural centres.
However, Britannia will now need to fend of competition from smaller rivals who have now re-entered the fray for market share.
Britannia shares, set to end higher after three sessions of losses, are on track for their best day in nearly five months. The stock has climbed about 5% this year, underperforming the Nifty fast-moving consumer goods .NIFTYFMCG index's 16% rise.
(Reporting by Praveen Paramasivam in Chennai)
(([email protected]; +91 867-525-3569;))
Indian biscuit maker Britannia misses Q2 revenue view on price cuts
BENGALURU, Nov 1 (Reuters) - India's Britannia Industries BRIT.NS reported second-quarter revenue that fell short of analysts' expectations on Wednesday, as the biscuit maker cut prices of some of its key products to stave off competition.
Britannia, which also sells cakes and breads, said its revenue from operations was up 1.2% at 44.33 billion rupees ($532.6 million), but fell short of analysts' estimates of 45.43 billion rupees, as per LSEG data.
"As the commodity started to soften this quarter, we have seen pricing activity by competition in certain categories," said Managing Director Varun Berry, adding that Britannia cut prices in some of its key brands to increase its market share.
Analysts have said a recovery in rural demand for packaged foods remained below expectations in the quarter due to high-food prices, but expects a pick-up in demand in the current quarter due to a delayed festive season.
"Our potential in rural continues to remain high and hence, expansion in rural distribution continued despite a reported rural slowdown," Berry added.
Lower costs in the quarter ended September, however, helped Britannia post a 19.1% rise in consolidated net profit of 5.88 billion rupees, topping analysts' estimate of 5.46 billion rupees.
Expenses fell 2.3% to 3.69 billion rupees.
Britannia also added that it was watchful of the impact of volatile global commodity prices on its businesses amid ongoing strife in the Middle East and Russia.
Its shares have gained nearly 2.1% in the year so far, as compared with a near 16% rise in the NIFTY FMCG index .NIFTYFMCG.
($1 = 83.2370 Indian rupees)
(Reporting by Manvi Pant and Indranil Sarkar in Bengaluru; Editing by Shailesh Kuber)
(([email protected]; +918447554364;))
BENGALURU, Nov 1 (Reuters) - India's Britannia Industries BRIT.NS reported second-quarter revenue that fell short of analysts' expectations on Wednesday, as the biscuit maker cut prices of some of its key products to stave off competition.
Britannia, which also sells cakes and breads, said its revenue from operations was up 1.2% at 44.33 billion rupees ($532.6 million), but fell short of analysts' estimates of 45.43 billion rupees, as per LSEG data.
"As the commodity started to soften this quarter, we have seen pricing activity by competition in certain categories," said Managing Director Varun Berry, adding that Britannia cut prices in some of its key brands to increase its market share.
Analysts have said a recovery in rural demand for packaged foods remained below expectations in the quarter due to high-food prices, but expects a pick-up in demand in the current quarter due to a delayed festive season.
"Our potential in rural continues to remain high and hence, expansion in rural distribution continued despite a reported rural slowdown," Berry added.
Lower costs in the quarter ended September, however, helped Britannia post a 19.1% rise in consolidated net profit of 5.88 billion rupees, topping analysts' estimate of 5.46 billion rupees.
Expenses fell 2.3% to 3.69 billion rupees.
Britannia also added that it was watchful of the impact of volatile global commodity prices on its businesses amid ongoing strife in the Middle East and Russia.
Its shares have gained nearly 2.1% in the year so far, as compared with a near 16% rise in the NIFTY FMCG index .NIFTYFMCG.
($1 = 83.2370 Indian rupees)
(Reporting by Manvi Pant and Indranil Sarkar in Bengaluru; Editing by Shailesh Kuber)
(([email protected]; +918447554364;))
India's Bombay Burmah Trading Corp hits 2-year high
** Shares of Wadia Group-owned Bombay Burmah Trading Corp BBRM.NS rise as much as 11.9% to 1,238.9 rupees, highest since Sept. 2, 2021
** Stock logs largest intraday pct climb since June 13; on track to rise for fifth straight session, if trend holds
** Trading volume nearly 10X 30-day moving average as of 12:23 p.m. IST, stock's busiest day since June 13
** Stock up 35% YTD
(Reporting by Varun Vyas in Bengaluru)
** Shares of Wadia Group-owned Bombay Burmah Trading Corp BBRM.NS rise as much as 11.9% to 1,238.9 rupees, highest since Sept. 2, 2021
** Stock logs largest intraday pct climb since June 13; on track to rise for fifth straight session, if trend holds
** Trading volume nearly 10X 30-day moving average as of 12:23 p.m. IST, stock's busiest day since June 13
** Stock up 35% YTD
(Reporting by Varun Vyas in Bengaluru)
Britannia price cuts raise growth worries, hit biscuit maker's shares
Adds comments from analysts and Britannia, details on price cuts and stock in paragraphs 3-11
CHENNAI, Aug 7 (Reuters) - Shares of India's Britannia Industries BRIT.NS fell as much as 3.6% on Monday to a two-month low as analysts raised growth concerns after price cuts dragged the biscuits maker's quarterly profits below market estimates.
Britannia, which also sells cakes and breads, on Friday posted a consolidated profit of 4.58 billion rupees ($55.36 million) for the first quarter ended June 30, while analysts polled by Refinitiv were looking at a profit of 5.01 billion rupees.
"Local competition intensified. In view of that situation, certain price corrections were initiated to remain competitive and continue to drive top line," Britannia said on Friday.
The cuts - of about 1.8% during the quarter - meant its gross margins contracted 300 basis points sequentially to 41.9%.
While easing inflation in the months of April and May had brought some relief for consumer goods makers like Britannia, analysts said this intensified competition with local manufacturers.
"A resurgence of local competition with pricing correction means growth has to be largely driven by volumes, which could lag due to channel de-stocking and out-performance of local players," ICICI Securities analysts said in a note.
Britannia said prices would be "flattish" for the year ending March 2024 compared with the previous year.
"We will have to make sure that we work doubly hard to get our top line to grow," Managing Director Varun Berry said on an earnings call.
The second half "looks challenging" for revenue, as well as profit growth, unless Britannia was able to offset a pressure on margins through volumes, JM Financial analysts said.
The average rating for the stock among 36 analysts is "buy", with a median price target of 5,172.50 rupees, according to Refinitiv.
Shares, up over 8% this year, were down 2.9% at 4659.50 rupees at 11:53 IST.
($1 = 82.7250 Indian rupees)
(Reporting by Praveen Paramasivam in Chennai; Editing by Nivedita Bhattacharjee)
(([email protected]; +91 867-525-3569;))
Adds comments from analysts and Britannia, details on price cuts and stock in paragraphs 3-11
CHENNAI, Aug 7 (Reuters) - Shares of India's Britannia Industries BRIT.NS fell as much as 3.6% on Monday to a two-month low as analysts raised growth concerns after price cuts dragged the biscuits maker's quarterly profits below market estimates.
Britannia, which also sells cakes and breads, on Friday posted a consolidated profit of 4.58 billion rupees ($55.36 million) for the first quarter ended June 30, while analysts polled by Refinitiv were looking at a profit of 5.01 billion rupees.
"Local competition intensified. In view of that situation, certain price corrections were initiated to remain competitive and continue to drive top line," Britannia said on Friday.
The cuts - of about 1.8% during the quarter - meant its gross margins contracted 300 basis points sequentially to 41.9%.
While easing inflation in the months of April and May had brought some relief for consumer goods makers like Britannia, analysts said this intensified competition with local manufacturers.
"A resurgence of local competition with pricing correction means growth has to be largely driven by volumes, which could lag due to channel de-stocking and out-performance of local players," ICICI Securities analysts said in a note.
Britannia said prices would be "flattish" for the year ending March 2024 compared with the previous year.
"We will have to make sure that we work doubly hard to get our top line to grow," Managing Director Varun Berry said on an earnings call.
The second half "looks challenging" for revenue, as well as profit growth, unless Britannia was able to offset a pressure on margins through volumes, JM Financial analysts said.
The average rating for the stock among 36 analysts is "buy", with a median price target of 5,172.50 rupees, according to Refinitiv.
Shares, up over 8% this year, were down 2.9% at 4659.50 rupees at 11:53 IST.
($1 = 82.7250 Indian rupees)
(Reporting by Praveen Paramasivam in Chennai; Editing by Nivedita Bhattacharjee)
(([email protected]; +91 867-525-3569;))
India's Britannia's profit climbs 36% on rising demand for packaged foods
BENGALURU, Aug 4 (Reuters) - India's Britannia Industries BRIT.NS reported a near-36% jump in quarterly earnings on Friday as the Marie Gold biscuits maker stocked up its products in mom-and-pop stores across rural markets.
Britannia, which also sells cakes and breads, posted consolidated profit of 4.58 billion rupees ($55.4 million) in the first quarter ended June 30, compared with 3.37 billion rupees a year earlier.
(Reporting by Praveen Paramasivam in Chennai; Editing by Dhanya Ann Thoppil)
(([email protected]; +91 867-525-3569;))
BENGALURU, Aug 4 (Reuters) - India's Britannia Industries BRIT.NS reported a near-36% jump in quarterly earnings on Friday as the Marie Gold biscuits maker stocked up its products in mom-and-pop stores across rural markets.
Britannia, which also sells cakes and breads, posted consolidated profit of 4.58 billion rupees ($55.4 million) in the first quarter ended June 30, compared with 3.37 billion rupees a year earlier.
(Reporting by Praveen Paramasivam in Chennai; Editing by Dhanya Ann Thoppil)
(([email protected]; +91 867-525-3569;))
India's Britannia hits record high, top gainer in Nifty 50
** Shares of Britannia Industries Ltd BRIT.NS jump as much as 3.4% to a record high of 4,862.95 rupees
** BRIT stock is the top gainer in Nifty 50 index .NSEI, which is currently up 0.3%
** Stock trading above its 50-, 100-, and 200-day exponential moving averages since April 26
** If trend holds, stock on track to advance for a fourth consecutive session
** About 680,350 shares change hands, 1.8x the 30-day avg - Refinitiv Data
** BRIT's Moving Average Convergence Divergence (MACD) line has been over the signal line for three sessions, suggesting bullish momentum
** Relative Strength Index (RSI) is over the upper limit of 70, indicating the stock is overbought
** Jefferies sees margin benefits for FMCG companies to continue in June quarter on lower input costs
** Twenty-five of 35 analysts covering the stock have a "buy" or higher rating, eight have "hold" while two rate it at "sell" or lower; median PT is 5,155 rupees
** YTD, stock up 12.6% vs Nifty 50 index' 2.7% gain
(Reporting by Priya Sagar in Bengaluru)
** Shares of Britannia Industries Ltd BRIT.NS jump as much as 3.4% to a record high of 4,862.95 rupees
** BRIT stock is the top gainer in Nifty 50 index .NSEI, which is currently up 0.3%
** Stock trading above its 50-, 100-, and 200-day exponential moving averages since April 26
** If trend holds, stock on track to advance for a fourth consecutive session
** About 680,350 shares change hands, 1.8x the 30-day avg - Refinitiv Data
** BRIT's Moving Average Convergence Divergence (MACD) line has been over the signal line for three sessions, suggesting bullish momentum
** Relative Strength Index (RSI) is over the upper limit of 70, indicating the stock is overbought
** Jefferies sees margin benefits for FMCG companies to continue in June quarter on lower input costs
** Twenty-five of 35 analysts covering the stock have a "buy" or higher rating, eight have "hold" while two rate it at "sell" or lower; median PT is 5,155 rupees
** YTD, stock up 12.6% vs Nifty 50 index' 2.7% gain
(Reporting by Priya Sagar in Bengaluru)
India's Britannia Industries Q4 profit tops view on strong demand
BENGALURU, May 5 (Reuters) - Indian bread and biscuits maker Britannia Industries Ltd BRIT.NS on Friday reported a bigger-than-expected 47% jump in quarterly profit as strong demand and past price hikes helped expand margins.
Britannia, which sells the Marie Gold and Good Day brand of biscuits, reported a consolidated net profit of 5.59 billion rupees ($68.43 million) in the quarter ended March 31, compared with 3.80 billion rupees a year earlier.
Analysts, on average, expected the firm to report a profit of 5.03 billion rupees, per Refinitiv IBES data.
($1 = 81.6900 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Dhanya Ann Thoppil)
(([email protected]; Mobile: +91 9591011727;))
BENGALURU, May 5 (Reuters) - Indian bread and biscuits maker Britannia Industries Ltd BRIT.NS on Friday reported a bigger-than-expected 47% jump in quarterly profit as strong demand and past price hikes helped expand margins.
Britannia, which sells the Marie Gold and Good Day brand of biscuits, reported a consolidated net profit of 5.59 billion rupees ($68.43 million) in the quarter ended March 31, compared with 3.80 billion rupees a year earlier.
Analysts, on average, expected the firm to report a profit of 5.03 billion rupees, per Refinitiv IBES data.
($1 = 81.6900 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Dhanya Ann Thoppil)
(([email protected]; Mobile: +91 9591011727;))
India's Bombay Burmah Trading tanks 10% after Go First files for bankruptcy
** Shares of Bombay Burmah Trading Corporation BBRM.NS plunge as much as 10% in early trade to 936.05 rupees - highest intraday pct loss since Feb. 24, 2022
** Go First airline, which filed for bankruptcy on Tuesday, availed loan from BBRM in the form of inter-corporate deposits - insolvency filing
** Loan amount yet to be ascertained
** If losses hold, BBRM set to snap four straight sessions of gains
** More than 314,000 shares traded by 9:51 a.m. IST, 3.8x their 30-day avg
** Up to last close, BBRM rose 14.7% YTD
(Reporting by Rama Venkat in Bengaluru)
** Shares of Bombay Burmah Trading Corporation BBRM.NS plunge as much as 10% in early trade to 936.05 rupees - highest intraday pct loss since Feb. 24, 2022
** Go First airline, which filed for bankruptcy on Tuesday, availed loan from BBRM in the form of inter-corporate deposits - insolvency filing
** Loan amount yet to be ascertained
** If losses hold, BBRM set to snap four straight sessions of gains
** More than 314,000 shares traded by 9:51 a.m. IST, 3.8x their 30-day avg
** Up to last close, BBRM rose 14.7% YTD
(Reporting by Rama Venkat in Bengaluru)
Bombay Burmah Trading Corporation Decided To Sell Assets In Tanzania
April 19 (Reuters) - Bombay Burmah Trading Corporation Ltd BBRM.NS:
DECIDED TO SELL PLANTATION LAND/PROPERTIES, ASSETS FORMING PART OF 3 TEA ESTATES IN TANZANIA
SALE FOR TOTAL CONSIDERATION OF $1.2 MILLION
Source text for Eikon: ID:nBSE44BskL
Further company coverage: BBRM.NS
(([email protected];))
April 19 (Reuters) - Bombay Burmah Trading Corporation Ltd BBRM.NS:
DECIDED TO SELL PLANTATION LAND/PROPERTIES, ASSETS FORMING PART OF 3 TEA ESTATES IN TANZANIA
SALE FOR TOTAL CONSIDERATION OF $1.2 MILLION
Source text for Eikon: ID:nBSE44BskL
Further company coverage: BBRM.NS
(([email protected];))
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What does Bombay Burmah Trdg. do?
Bombay Burmah Trading Corporation Limited is a diversified organization with interests in tea and coffee plantations, auto electric components, healthcare, real estate, and weighing products, adhering to international standards for environmental and social responsibility.
Who are the competitors of Bombay Burmah Trdg.?
Bombay Burmah Trdg. major competitors are Hatsun Agro Product, Dodla Dairy, Heritage Foods, Vadilal Industries, Parag Milk Foods, Sheetal Cool Prod, Milkfood. Market Cap of Bombay Burmah Trdg. is ₹13,952 Crs. While the median market cap of its peers are ₹3,866 Crs.
Is Bombay Burmah Trdg. financially stable compared to its competitors?
Bombay Burmah Trdg. seems to be less financially stable compared to its competitors. Altman Z score of Bombay Burmah Trdg. is 3.94 and is ranked 7 out of its 8 competitors.
Does Bombay Burmah Trdg. pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Bombay Burmah Trdg. latest dividend payout ratio is 10.57% and 3yr average dividend payout ratio is 5.94%
How has Bombay Burmah Trdg. allocated its funds?
Companies resources are majorly tied in miscellaneous assets
How strong is Bombay Burmah Trdg. balance sheet?
Balance sheet of Bombay Burmah Trdg. is strong. But short term working capital might become an issue for this company.
Is the profitablity of Bombay Burmah Trdg. improving?
Yes, profit is increasing. The profit of Bombay Burmah Trdg. is ₹2,082 Crs for TTM, ₹1,123 Crs for Mar 2025 and ₹637 Crs for Mar 2024.
Is the debt of Bombay Burmah Trdg. increasing or decreasing?
Yes, The net debt of Bombay Burmah Trdg. is increasing. Latest net debt of Bombay Burmah Trdg. is ₹452 Crs as of Mar-25. This is greater than Mar-24 when it was ₹392 Crs.
Is Bombay Burmah Trdg. stock expensive?
Bombay Burmah Trdg. is expensive when considering the EV/EBIDTA, however latest PE is < 3 yr avg PE. Latest PE of Bombay Burmah Trdg. is 12.23, while 3 year average PE is 33.38. Also latest EV/EBITDA of Bombay Burmah Trdg. is 4.78 while 3yr average is 4.16.
Has the share price of Bombay Burmah Trdg. grown faster than its competition?
Bombay Burmah Trdg. has given lower returns compared to its competitors. Bombay Burmah Trdg. has grown at ~14.88% over the last 4yrs while peers have grown at a median rate of 18.86%
Is the promoter bullish about Bombay Burmah Trdg.?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Bombay Burmah Trdg. is 74.05% and last quarter promoter holding is 74.05%.
Are mutual funds buying/selling Bombay Burmah Trdg.?
The mutual fund holding of Bombay Burmah Trdg. is increasing. The current mutual fund holding in Bombay Burmah Trdg. is 0.39% while previous quarter holding is 0.37%.