Securities has buy call on with a target price of Rs 4550. The current market price of Britannia Industries is Rs 4282.85 .
Britannia Industries, incorporated in the year 1918, is a Large Cap company (having a market cap of Rs 103220.50 Crore) operating in FMCG sector.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 4432.85 Crore, up 18.01 % from last quarter Total Income of Rs 3756.46 Crore and up 21.09 % from last year same quarter Total Income of Rs 3660.77 Crore. Company has reported net profit after tax of Rs 490.52 Crore in latest quarter.
The company’s top management includes Mr.Nusli N Wadia, Mr.Keki Elavia, Dr.Y S P Thorat, Dr.Ajay Shah, Mr.Ness N Wadia, Dr.Ajai Puri, Mr.Keki Dadiseth, Mr.N Venkataraman, Mr.Avijit Deb, Mr.Varun Berry, Mrs.Tanya Dubash. Company has B S R & Co. LLP as its auditors. As on 30-09-2022, the company has a total of 24 Crore shares outstanding.
Investment Rationale
The brokerage values the FMCG stock at 46x Sep-24 P/E. However, downside risks seen for the counter include high raw material inflation that may result in gross margin pressure; and low industry-wide volume growth.
Promoter/FII Holdings
Promoters held 50.55 per cent stake in the company as of 30-Sep-2022, while FIIs owned 16.65 per cent, DIIs 8.67 per cent.
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