Britannia Q4 Review - Milk Bikis To Drive Next Wave Of Premiumisation: IDBI Capital
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Britannia Q4 Review - Milk Bikis To Drive Next Wave Of Premiumisation: IDBI Capital


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IDBI Capital Report

Britannia Industries Ltd. Q4 FY21 results were below our estimates. Standalone revenue grew at 8% driven primarily by volume growth.

Shutdown in business operation due to implementation of large scale digital project impacted primary billing for three days in March 2021.

However, this is likely to drive cost based efficiencies going forward.

Deflationary raw material cost drove margin expansion. Management is aiming to drive aggressive growth of Milk-Bikis biscuits with:

  1. A new brand positioning of 'Doodh Roti Ki Shakti'

  2. A new brand ambassador; Pankaj Tripathi

  3. First time Hindi labelling on products to win Hindi heartland (Milk Bikis so far has been a regional brand restricted primarily to Tamil Nadu and Kerala).

Click on the attachment to read the full report:

IDBI Capital Britannia Q4FY21 Result Review.pdf


This 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.

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