Britannia Q4 Review - Success Of New Categories, Ramp-Up Of Adjacent Categories Is The Key: ICICI Securities
Britannia range of products on display (Photo: BloombergQuint)

Britannia Q4 Review - Success Of New Categories, Ramp-Up Of Adjacent Categories Is The Key: ICICI Securities

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.

ICICI Securities Report

Britannia Industries Ltd.'s Q4 FY21 revenue grew by 9% (two-year compound annual growth rate of 6%).

Management expects some pantry upstocking in the near term.

Market share gains for the company (strong brand positioning, direct distribution expansion, execution edge) are likely to continue in the near term.

Further, national re-launch of Milk Bikis with the strategy to gain market share (currently just 4% share in approximately Rs 73 billion milk+glucose biscuits category) by upgrading glucose consumers appears a good strategy.

Click on the attachment to read the full report:

ICICI Securities Britannia Q4FY21 Result.pdf

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