Britannia Q2 Review - Core Continues To Perform Well But New Products Scalability Uncertain: ICICI Securities

BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Broadly in-line revenue print (two-year compound annual growth rate of 8.8%) but weak (and a miss) volume print (possibly) highlights the imperils of a (largely) price-point product portfolio – price hikes for Britannia Industries Ltd. would have been a combination of higher maximum retail prices and lower grammage. We had highlighted in our channel checks that demand after being strong in Q1 (second wave-led) had normalised as mobility improved. Britannia continues to benefit from strong brand positioning, direct distribution expansion and execution edge. Going forward, we believe success of (at least few) new segments – salty snacks, wafers, croissants and ramp-up of adjacent categories – dairy, rusks, cakes and now Milk Bikis in biscuits are imperative for re-rating. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint 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 BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Britannia Q2 Review - Core Continues To Perform Well But New Products Scalability Uncertain: ICICI Securities

Britannia Q2 Review - Core Continues To Perform Well But New Products Scalability Uncertain: ICICI Securities

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