Britannia Q4 Review - Sales Outlook Improving; Margin Disappoints: Motilal Oswal
Britannia biscuits kept in a basket in a shop. (Photo: BloombergQuint)

Britannia Q4 Review - Sales Outlook Improving; Margin Disappoints: Motilal Oswal

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.

Motilal Oswal Report

Britannia Industries Ltd.’s Q4 FY21 topline growth was in line with volume growth, slightly above our expectation (7%) at 8%.

The management said it is seeing healthy growth momentum in April 2021 as well.

While deterioration in mix and higher than usual advertisement spends in Q4 FY21 led to Ebitda miss, the overall commodity basket inflation, at 3%, is not challenging, as the management reportedly took some price increases towards the end of Q4 FY21.

Click on the attachment to read the full report:

Motilal Oswal Britannia Q4FY21 Result Review.pdf


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