Britannia - Diversification Of Consumer Choices Impact Q3 Volume: Centrum Broking
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Centrum Broking Report
Britannia Industries Ltd.’s Q3 FY21 performance was below expectations.
Given diversification of consumer choices consolidated revenue/Ebitda/profit after tax grew 6.1%/ 21.8%/ 22.3% led by healthy growth in traditional trade and rural markets, while modern trade and institutional business (~10% each) witnessed moderate recovery.
After a stellar H1 FY21 performance, the company has shifted its focus on strategic planks -
- grow distribution,
- cut costs,
- build innovation pipeline,
- nurture adjacent business, and
- strive for sustainable and profitable growth.
We reckon, emphasis on under indexed hindi speaking rural markets helped in gaining market share.
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