IDBI Capital: Britannia Q2 Review - Volume Growth Subsides; International Market Stands Stronger

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.Britannia Industries Ltd. Q2 FY21 result was in-line with our estimates.Revenue growth subsided to 12% YoY (versus 27% in Q1 FY21) with gradual opening up of the economy and pick-up in out-of-home consumption.Non-biscuit portfolio outperformed biscuit portfolio in volume growth.Modern trade channel continues to face growth headwinds. However, deflationary raw material cost aided significant improvement in operating profit margins.Positively, Britannia Industries plans for both green field (in Tamil Nadu, Uttar Pradesh and Bihar) and brownfield (Odisha and Ranjangaon) expansion to enhance overall capacity. This will help in margin improvements..Click on the attachment to read the full report:.DISCLAIMERThis 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 brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

IDBI Capital: Britannia Q2 Review - Volume Growth Subsides; International Market Stands Stronger

IDBI Capital: Britannia Q2 Review - Volume Growth Subsides; International Market Stands Stronger

Choose a plan