Britannia Q4 Review - Milk Bikis To Drive Next Wave Of Premiumisation: IDBI Capital
Good Day brand cookies made by Britannia Industries (Image Source BloombergQuint)

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

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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.

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

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