Britannia Q3 Review - Worst Seems Over, Expect Gradual Recovery: Prabhudas Lilladher
Britannia biscuits kept in a basket in a shop. (Photo: BloombergQuint)

Britannia Q3 Review - Worst Seems Over, Expect Gradual Recovery: Prabhudas Lilladher

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.

Prabhudas Lilladher Report

Britannia Industries Ltd. Q3 revenues grew by 5.7% (4% volume growth) as pantry stocking normalised and transit cluster underperformed.

The company continues to build on its strategic pillars of -

  1. innovations
  2. affordable packs/pricing (biscuits–Rs 5/10 in premium brands)
  3. direct distribution (up 16% since March 20)
  4. adjacent product segments (cake, cream wafers, salted snacks, milkshakes)
  5. cost efficiency programs (Rs 2.5 billion/1.5-2% of sales) and
  6. high growth in Hindi heartland (1.3-1.6 times).

Click on the attachment to read the full report:

Prabhudas Lilladher Britannia Q3FY21 Result Update.pdf

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