Britannia Q4 Review - Revenue In-Line, Margins Discouraging: Dolat Capital
Britannia products. (Image: Company website)

Britannia Q4 Review - Revenue In-Line, Margins Discouraging: Dolat Capital

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.

Dolat Capital Report

Britannia Industries Ltd.'s Q4 FY21 revenue was in line with our estimate.

Domestic sales grew 9.7% YoY , driven by volume growth of 8%.

The company has been consistently gaining market share over the last several quarters. Majority of the gains are from Hindi belt.

Ebitda margin improved by mere 30 basis points to 16.1% - despite favorable base.

The company posted lowest Ebitda margin in past four quarters.

Going ahead, we believe that normalization of demand coupled with increase in advertising and sales promotion costs would pressurise Ebitda margins.

Click on the attachment to read the full report:

Dolat Capital Britannia Industries Q4FY21 Result Update.pdf

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