Britannia Industries Ltd shares are trading flat today at Rs 4,322.50 in comparison to the previous closing price of Rs 4,324.05. In the past week, the scrip gained around 3 percent.
In a recent filing with the exchange, the company informed that the Board of Directors have declared an Interim Dividend at 7200%, i.e., Rs 72 per Equity Share on a face value of Rs 1 each for the Financial Year 2022‐23. The record date for determining the eligibility of shareholders for payment of Interim Dividend is 13th April 2023.
Britannia Industries is one of India’s leading food companies manufacturing India’s favorite brands like Good Day, Tiger, NutriChoice, Milk Bikis, and Marie Gold which are household names in India.
The company’s products are available across the country in close to 5 million retail outlets and reach over 50% of Indian homes. It has a presence in more than 60 countries across the globe with an international footprint including the Middle East.
Having a walkthrough of the financials, the revenues of the company have moved down from Rs 4,380 crores in Q2 to Rs 4,197 crores in Q3. On a contrasting note, the net profit figures took a jump from Rs 490 crores in Q2 to Rs 930 crores in Q3.
Graphs pertaining to the profitability ratios indicate mixed results with ROE moving up from 46.92 percent in FY20-21 to 49.89 percent in FY21-22. Whereas, ROCE went down from 45.28 percent in FY20-21 to 41.64 percent in FY21-22.
Something of a concern is the increasing debt to equity ratio of the company with a recent movement from 0.6 in FY20-21 to 0.96 in FY21-22.
As per the data available for the quarter ending December 2022, promoters hold a 50.55 percent stake in the company. FIIs, on the other hand, have increased their stake from 17.18 percent during Q2 to 18.46 percent in Q3.
Written by Amit Madnani
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