BRITANNIA INDUSTRIES LTD.

Trendlyne Stock Report

Packaged Foods Oct 15, 2024 03:31 PM
FMCG

₹6,068.7 (1.5% ) 52 Week High Low

4347.7
6068.7

6469.9
Market Cap: 1.5T Avg Daily Volume: 449.0K
NSE | Oct 15, 2024 03:31 PM

DVM SUMMARY

Expensive Star D V M

These stocks are bullish in nature, strong in quality and technical aspects, but bad in valuations. Investors need to be cautious on their returns earned.

Momentum Score
Durability Score (D) High Financial Strength Valuation Score (V) Expensive Valuation (M) Technically Moderately Bullish

Bad Medium Good Bad Medium Good Bad Medium Good

75 13 61
0 35 55 100 0 30 50 100 0 35 60 100

ANALYST RECOMMENDATION TRENDLYNE CHECKLIST

Consensus Recommendation Target Price

BUY 5900 (-2.78%) 60.9% Passed in checklist
Financials 7 1
9 7 14 4 1

Total : 35 Ownership 4
Strong Buy Buy Hold Sell Strong Sell

Peer Comparison 3
Current Price
6068.7
Value & Momentum 3 5

Total 14 9
4750 5900.06 7010
Low Est. Avg. Est. High Est.

The consensus recommendation is based on 35 analyst recommendations. The Consensus Estimate is The Trendlyne Checklist checks if the company meets the key criteria for financial health and
the aggregate analyst estimates for listed companies. consistent growth.

KEY STATISTICS

Ratios Financials
TTM PE Ratio ROE Annual % ROCE Annual % Operating Revenue TTM Revenue Growth Annual YoY Net Profit Annual
%
66.8 54.3 61.8 17008.9 2139.8
2.8
Above industry Median High in industry High in industry Market Runner Up
Below industry Median

EBIT Annual Margin % TTM PEG Ratio Long Term Debt To Equity
Annual Net Profit TTM Growth % Dividend yield 1yr % EPS TTM Growth %
18.4 -6.4
0.2 -10.4 1.2 -10.4
PEG TTM is negative
Above industry Median High in industry
Negative Net Profit TTM
Growth %

PRICE VOLUME CHARTS

1 Year Return : 32.7% 5 Year Return : 95.2%

6k

6k
5k

4k
5k

3k

4k 2k

DEC FEB APR JUN AUG OCT JAN JUL JAN JUL JAN JUL JAN JUL JAN JUL

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 BRITANNIA INDUSTRIES LTD. Trendlyne Stock Report
Packaged Foods Oct 15, 2024 03:31 PM
FMCG

Durability Summary

Durability Score Britannia Industries Ltd. has a durability score of 75, which indicates High Financial Strength.

75 / 100
A High Durability Score (greater than 55) indicates good and consistent financial performance : stable revenues, cash flows, and low debt.

The Durability score looks at many different metrics, including long-term performance data, to identify stocks that have stood the test of time.

High Financial Strength

Bad Medium Good

75
0 35 55 100

Durability Trend Britannia Industries Ltd. : Oct '23 - Oct '24 Durability v/s Peers

100
Britannia Industries 75.0

75 Nestle India 85.0

GOOD
Hatsun Agro Products 60.0
50
Bikaji Foods International 70.0
MEDIUM

25
Bombay Burmah Trading Corpor… 90.0

Zydus Wellness 65.0

0
Nov '23 Dec '23 Jan '24 Feb '24 Mar '24 Apr '24 May '24 Jun '24 Jul '24 Aug '24 Sep '24 Oct '24
Mrs. Bectors Food Specialities 75.0

0 20 40 60 80 100

Score Distribution (% of time in each zone) Variability (Range)

Good Medium Bad Maximum Minimum Britannia Industries Ltd. (75) has third-highest Durability score amongst its peers, behind
100.0% 0% 0% 85.0 (05 Feb '24) 70.0 (02 May '24) Nestle India Ltd. (85) and tied with Mrs. Bectors Food Specialities Ltd. and 2 others

Financial Metrics

Total Revenue Annual Net Profit Annual Tax Annual Revenue Growth Annual YoY %

16,983.45 2.8% YoY Mar'24 2,139.81 -7.8% YoY Mar'24 779.25 8.8% YoY Mar'24 2.8% -81.2% YoY Mar'24
20k 4k 1000 20
16516.4 779.3 788.9
13449 716.5 15
17224.7 612.5 663
11879 2321.8 562.4 13.2
2187.9 11.7
1863.9 450.7
10k 2k 500
1159.1 10
6.8
5.5
2.8
0 0 0
0
9

M
'1

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TT

TT

TT
ar

ar

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ar

ar

ar

ar

ar

ar

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ar

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Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Mar'24

M

Total Revenue Annual growth is lower than Net Profit Annual is falling faster than Tax Annual growth is stable compared to Revenue Growth Annual YoY % is falling faster
historical averages. historical averages. historical averages. than historical averages.

CAGR 2Y 8.8% CAGR 2Y 18.5% CAGR 2Y 17.7% CAGR 2Y -35.4%

3Y 8.1% 3Y 4.7% 3Y 5.5% 3Y -40.2%
5Y 8.6% 5Y 13.0% 5Y 4.9% 5Y -24.7%

Operating Profit Margin Annual % Net Profit TTM Growth % Operating Revenues Qtr Net Profit Qtr

18.7% 8.9% YoY Mar'24 -7.8% -115.0% YoY Mar'24 4,250.29 6.0% YoY Jun'24 505.64 10.5% YoY Jun'24
20 100 5k 750
17.1 4023.2 4010.7 4069.4 587.6
15.4 15.5 18.7 15.3 18.7 558.7 556.4 538.3
52.3 4432.9 4256.3 505.6
4250.3 457.6
50 32.9 500
18.1 18.3
2.5k
10 -7.8
0 -18.2 250

-50 0 0
0
9

4
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Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Mar'24

Se

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Ju

Ju

Ju

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M

M
D

Operating Profit Margin Annual % is growing Net Profit TTM Growth % is growing faster Operating Revenues Qtr growth is higher than Net Profit Qtr is falling faster than historical
faster than historical averages. than historical averages. historical averages. averages.

CAGR 2Y 10.3% CAGR 2Y 34.4% YoY 6.0% YoY 10.5%

3Y 0.0% 3Y 38.0% QoQ 4.4% QoQ -6.1%
5Y 3.9% 5Y 15.4%

Copyright © Giskard Datatech Pvt Ltd Page 2 of 14 All rights reserved

 BRITANNIA INDUSTRIES LTD. Trendlyne Stock Report
Packaged Foods Oct 15, 2024 03:31 PM
FMCG

Balance Sheet

Total Assets Annual Total ShareHolders Funds Annual Working Capital Annual

9,073.6 -3.0% YoY Mar'24 3,941.5 11.5% YoY Mar'24 764.3 24.9% YoY Mar'24
10k 5k 2k
7842.2 8008.8 3941.5
7515.5 9352.7 9073.6 3547.7 3534.3
4253.3 4402.8 1674.9 1096.5
6241.8 2558.1 805.4 764.3
1k 611.8
2.5k
5k
0
0 -185.3
0 -1k
9

4
'1

'2

'2

'2

'2

'2
ar

ar

ar

ar

ar

ar
Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Mar'24 Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Mar'24
M

M
Total Assets Annual is falling faster than Total ShareHolders Funds Annual growth is Working Capital Annual growth is higher than
historical averages. higher than historical averages. historical averages.

CAGR 2Y 9.88% CAGR 2Y 24.13% CAGR 2Y 303.08%

3Y 4.25% 3Y 3.57% 3Y -1.73%
5Y 7.77% 5Y -1.51% 5Y -14.52%

Cashflow

Cash from Operating Activity Annual Cash from Investing Activity Annual Cash from Financing Annual Activity Net Cash Flow Annual

2,573 1.9% YoY Mar'24 475.5 131.3% YoY Mar'24 -2,830.5 -175.2% YoY Mar'24 218 1234.2% YoY Mar'24
4k 2k 2k 400
910.9 218
2526.2 2573 1k 57.9 200
461.3 475.5 0 68.6
1851.1 -352.7 10.8
2k 1484.5 0
1299.5 0
1155.8 -1028.4
-2k -35.4 -19.2
-1k -52.4
-855.5 -1531.6 -1517.1 -2243.7 -200
-2830.5
0 -2k -4k

4
'1

'2

'2

'2

'2

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ar

ar

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ar

ar
Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Mar'24 Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Mar'24 Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Mar'24

M
Cash from Operating Activity Annual growth Cash from Investing Activity Annual growth is Cash from Financing Annual Activity is falling Net Cash Flow Annual growth is higher than
is lower than historical averages. stable compared to historical averages. faster than historical averages. historical averages.

CAGR 2Y 40.71% CAGR 2Y -27.75% CAGR 2Y -12.26% CAGR 2Y 348.05%

3Y 11.6% 3Y 1.02% 3Y -8.05% 3Y 46.99%
5Y 17.36% 5Y 188.92% 5Y -51.67% 5Y 232.98%

Financial Ratios

ROE Annual % ROCE Annual % RoA Annual % Current Ratio Annual

54.3% -17.4% YoY Mar'24 61.8% 14.3% YoY Mar'24 23.6% -5.0% YoY Mar'24 1.2 3.4% YoY Mar'24
100 100 30 2
24.8 23.6
23.3 1.9
65.7 66.2 61.8 20.3 1.4
59.6 59.7
52.5 54.3 54 18.6 17.9 1.2 1.2
20 1.1
50 50 40.5 36.8 1
27.3 31.9 1
10
0 0
0 0
9

4
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Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Mar'24 Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Mar'24
M

ROE Annual % is falling faster than historical ROCE Annual % is growing faster than RoA Annual % is falling faster than historical Current Ratio Annual growth is higher than
averages. historical averages. averages. historical averages.

CAGR 2Y -4.57% CAGR 2Y -3.37% CAGR 2Y 7.83% CAGR 2Y 11.47%

3Y 1.1% 3Y 1.15% 3Y 0.44% 3Y -0.98%
5Y 14.78% 5Y 8.82% 5Y 4.89% 5Y -9.02%

Net Profit Margin Annual % Interest Coverage Ratio Annual EBIT Annual Margin %

12.7% -10.1% YoY Mar'24 20.6 14.5% YoY Mar'24 18.4% 6.2% YoY Mar'24
20 300 30

14.1 14.2 195.6 20

12 12.7 200 18.4
10.7 20 16.1 16.7 17.3
10.5 15.7
10
100
25.2 23.7 16.8 18 20.6 10
0
0 0
9

4
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'2

'2

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Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Mar'24 Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Mar'24
M

Net Profit Margin Annual % is falling faster Interest Coverage Ratio Annual growth is EBIT Annual Margin % is growing faster than
than historical averages. higher than historical averages. historical averages.

CAGR 2Y 9.02% CAGR 2Y 10.82% CAGR 2Y 8.1%

3Y -3.28% 3Y -4.46% 3Y -2.73%
5Y 4.02% 5Y -36.23% 5Y 2.71%

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 BRITANNIA INDUSTRIES LTD. Trendlyne Stock Report
Packaged Foods Oct 15, 2024 03:31 PM
FMCG

Key Metrics - Peer Comparison

COMPARISON BRITANNIA NESTLE INDIA HATSUN AGRO BIKAJI FOODS BOMBAY BURMAH TRADING ZYDUS MRS. BECTORS FOOD
INDUSTRIES LTD. LTD. PRODUCTS LTD. INTERNATIONAL LTD. CORPORATION LTD. WELLNESS LTD. SPECIALITIES LTD.
(1) (2) (3) (4) (5) (6) (7)

Valuation Score 13.0 13.0 18.2 17.2 70.8 36.3 15.3

P/E Ratio TTM 66.8 73.8 81.4 78.2 17.5 41.9 82.5

Forward P/E Ratio 60.6 69.9 68.5 76.4 - 31.8 74.1

PEG Ratio TTM -6.4 3.9 1.3 0.9 0.1 5.8 3.2

Forward PEG Ratio 4.8 -5.5 1.7 8.8 - 0.7 10.4

Price to Book Value 36.9 71.7 16.4 18.2 2.8 2.4 17.5

Price to Sales TTM 8.6 12.1 3.1 9.1 1.1 5.2 6.9

Price to Sales Annual 7.1 10.4 2.8 5.3 0.6 4.0 4.0

EV to EBITDA 35.5 42.3 26.8 29.2 4.1 29.3 25.4

Market Cap to Sales 7.1 10.4 2.8 5.3 0.6 4.0 4.0

Price to Free Cash Flow 218.0 -197.6 13.6 -8.1 176.9 201.4 -1.4

Graham Number 580.0 162.0 150.5 111.1 1807.1 952.1 241.3

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 BRITANNIA INDUSTRIES LTD. Trendlyne Stock Report
Packaged Foods Oct 15, 2024 03:31 PM
FMCG

Valuation Summary

Valuation Score Britannia Industries Ltd. has a valuation score of 13, which indicates an Expensive Valuation.

13 / 100
A High Valuation Score (greater than 50) indicates the stock is competitively priced at current P/E, P/BV and share price.

The Valuation helps you identify stocks which are still bargains, and whose strengths are not fully priced into the share price.

Expensive Valuation

Bad Medium Good

13
0 30 50 100

Valuation Trend Britannia Industries Ltd. : Oct '23 - Oct '24 Valuation v/s Peers

100
Britannia Industries 13.0

75 Nestle India 13.0

GOOD
Hatsun Agro Products 18.2
50

Bikaji Foods International 17.2

MEDIUM
25
Bombay Burmah Trading Corpor… 70.8

0 Zydus Wellness 36.3

23

24

24

24

4
'2

'2

'2

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'2

l '2

'2

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Mrs. Bectors Food Specialities 15.3

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0 10 20 30 40 50 60 70 80

Score Distribution (% of time in each zone) Variability (Range)

Good Medium Bad Maximum Minimum Britannia Industries Ltd. (13) has sixth-highest Valuation score amongst its peers, behind Mrs.
0% 0% 100.0% 19.7 (05 Feb '24) 11.3 (05 Jun '24) Bectors Food Specialities Ltd. (15) and tied with Nestle India Ltd. and 2 others

P/E Buy Sell Zone

Britannia Industries Ltd. has spent 93.9% of the time below the current P/E 66.8. This puts it in the PE
Strong Sell Zone

Strong Sell Zone 93.9% into P/E buy sell zone This is based on the tendency of the P/E value to revert to its historical mean.

If the P/E value has spent most of its time below the current value, then it means that most gains have
probably been realised already, and it is time to sell.
Strong upside potential % time spent below current P/E Gains already realized If the P/E value has spent very little time below the current value, then it means that there is strong
potential upside, and it is time to buy.

Valuation Metrics

PE TTM Price to Earnings Price To Sales Annual DividendPayoutCP_A Graham Number

66.8 37.5% YoY Oct'24 7.1 29.3% YoY Oct'24 0.8 27.4% YoY Oct'24 580 25.1% YoY Oct'24
100 10 2 750
1.5 567.9 580
66.8 6.7 6.7 7.1
1.2 470 457.9 463.5
5.6 5.5 500
48.8 51.2 48.6
46.4
50 5 1 0.8
0.6
250
0.3

0 0 0 0
Mar'20 Mar'21 Mar'22 Mar'23 Oct'24 Mar'20 Mar'21 Mar'22 Mar'23 Oct'24 Mar'20 Mar'21 Mar'22 Mar'23 Oct'24 Mar'20 Mar'21 Mar'22 Mar'23 Oct'24

PE_TTM growth is higher than historical Price To Sales Annual growth is higher than Annual Dividend Payout CP growth is higher Graham Number growth is stable compared to
averages. historical averages. than historical averages. historical averages.

CAGR 2Y 4.8% CAGR 2Y 13.7% CAGR 2Y -17.0% CAGR 2Y 21.1%

3Y 6.1% 3Y 2.0% 3Y -19.0% 3Y 4.1%
5Y -2.3% 5Y 1.1% 5Y 26.1% 5Y 5.2%

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 BRITANNIA INDUSTRIES LTD. Trendlyne Stock Report
Packaged Foods Oct 15, 2024 03:31 PM
FMCG

Momentum Summary

Momentum Score Britannia Industries Ltd. has a Momentum score of 61, which indicates that it is Technically Moderately Bullish.

61 / 100
A High Momentum Score indicates the stock is seeing buyer demand, and is bullish across its technicals compared to the rest of the stock universe.

Momentum is a very effective short term score, while Durability and Valuation help assess the stock’s health over the long term.

Technically Moderately Bullish

Bad Medium Good

61
0 35 60 100

Momentum Trend Britannia Industries Ltd. : Oct '23 - Oct '24 Momentum v/s Peers 14 Oct '24

100
Britannia Industries 60.8

75 Nestle India 47.6

GOOD
Hatsun Agro Products 52.6
50

MEDIUM Bikaji Foods International 57.1

25
Bombay Burmah Trading Corpor… 62.8

0 Zydus Wellness 56.7

23

24

24

24

4
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Mrs. Bectors Food Specialities 66.7

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0 10 20 30 40 50 60 70 80

Score Distribution (% of time in each zone) Variability (Range)

Good Medium Bad Maximum Minimum Britannia Industries Ltd. (61) has third-highest Momentum score amongst its peers, behind
33.5% 66.5% 0% 68.3 (04 Oct '24) 35.6 (03 Nov '23) Bombay Burmah Trading Corporation Ltd. (63)

Price Change Analysis Key Momentum Metrics

LTP : 6068.7 Day RSI Day MFI

1 Day 5986.95 6082.95

48.7 49.8
1 Week 5900 6234.8
RSI is 48.7, RSI below 30 is considered oversold MFI is 49.8, MFI below 30 is considered
and above 70 overbought oversold and above 70 overbought
1 Month 5900 6469.9

3 Months 5594.15 6469.9

Day MACD Day MACD Signal Line
6 Months 4641 6469.9
14.1 56.9
1 Year 4347.7 6469.9
MACD is above its Center Line, but below signal MACD is above its Center Line, but below signal
3 Year 3050 6469.9 line. line.

5 Year 2100 6469.9

Day ATR
1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 70…

124.4

Simple Moving Averages Exponential Moving Averages

Britannia Industries Ltd. is trading above 5 out of 8 SMAs. BEARISH BULLISH

BEARISH BULLISH 4/8 4/8

3/8 5/8 Bullish v/s Bearish SMAs

(if the current price is above a moving average, it is considered bullish)
Bullish v/s Bearish SMAs
(if the current price is above a moving average, it is considered bullish)
5Day EMA 6050.7 26Day EMA 6092.8

5Day SMA 6024.9 50Day SMA 5972.8 10Day EMA 6097.2 50Day EMA 5990.2

10Day SMA 6143.3 100Day SMA 5753.8 12Day EMA 6106.8 100Day EMA 5773.2

20Day SMA 6173.4 150Day SMA 5472.7 20Day EMA 6109.4 200Day EMA 5467.9

30Day SMA 6107.6 200Day SMA 5371.9

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 BRITANNIA INDUSTRIES LTD. Trendlyne Stock Report
Packaged Foods Oct 15, 2024 03:31 PM
FMCG

Momentum Oscillators Pivot Support & Resistances

Britannia Industries Ltd. is trading below 3 out of 9 Oscillators in bearish zone. Britannia Industries Ltd. at 6068.70 is trading above it's Pivot 6046.20.

BEARISH NEUTRAL BULLISH 6250

3/9 3/9 3/9 6200 R3 - 6201.4

Bullish v/s Bearish Oscillators 6150 R2 - 6142.2

(if an oscillator is in its negative range, it is considered bearish)
R1 - 6105.4
6100

RSI(14) 48.7 MACD(12, 26, 9) 14.1 LTP - 6068.7

6050 PIVOT - 6046.2
Stochastic Oscillator 15.6 Stochastic RSI 5.5
S1 - 6009.4
6000
CCI 20 -98.6 William -70.4

Awesome Oscillator -30.3 Ultimate Oscillator 46.5 5950 S2 - 5950.2

Momentum Oscillator -269.4 S3 - 5913.4

5900

Neutral Bullish Bearish

Volatility Metrics

Beta
1 month 3 month 1 year 3 year Day ADX Day Bollinger Bands Mid_20_2

0.69 0.46 0.27 0.13 22.1 6173.4

beta value for 3 month indicates price tends to be less volatile than the market

Daily Volume Analysis Active Candlesticks

Daily average delivery volume over the past week is 57.3%

Bullish Candlestick Pattern Bearish Candlestick Patterns
15 Oct, 2024 87.8K 223.8K
No active candlesticks No active candlesticks
Week 215.6K 376.4K

Month 219.9K 396.4K

0 50k 100k 150k 200k 250k 300k 350k 400k 450k

Combined Delivery Volume NSE+BSE Traded Volume

Daily Avg. Delivery Volume %

15 Oct, 2024 Week Month

39.2% 57.3% 55.5%

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 BRITANNIA INDUSTRIES LTD. Trendlyne Stock Report
Packaged Foods Oct 15, 2024 03:31 PM
FMCG

Checklist Summary

Trendlyne Checklist Score

60.9% pass 14 | 9
=
Financial
7|1
+
Value & Momentum
3|5
+
Ownership
4
+
Peer Comparison
|3

Financial Value & Momentum

7 criteria met | 1 not met 3 criteria met | 5 not met

Company has seen consistent profit growth in the last eight The stock is in the Buy Zone according to its historical P/E?
quarters? No
No
The stock is in the Buy Zone according to its historical P/E
Stock has seen consistent profit growth in the last eight quarters

The stock is in the Buy Zone according to its historical P/BV?

Company has seen consistent sales growth in the last eight quarters? No
Yes The stock is in the Buy Zone according to its historical P/BV
Stock has seen consistent sales growth in the last eight quarters

Company's valuation score signals overall affordability?

Company has high Trendlyne Durability Score? No
Yes Company's valuation score signals overall affordability
Stock has high Trendlyne Durability Score (>=60)

Trendlyne Momentum Score shows bullishness?

Company has high Piotroski Score? Yes
Yes Trendlyne Momentum Score shows bullishness
Stock has high Piotroski Score (>= 7)

Stock is trading above all short term SMAs?

Company has Low Debt? No
Yes Stock is trading above all short term SMAs
Stock has Low Debt

Stock is trading above all long term SMAs?

Shareholder Value: Company has Strong ROE? Yes
Yes Stock is trading above all long term SMAs
Shareholder Value: Stock has Strong ROE

Stock has bullish candlesticks?

Company has Positive Net Cash Flow? Yes
Yes Stock has bullish candlesticks OR Stock has no bearish candlesticks
Stock has Positive Net Cash Flow

Stock has active positive breakouts?

Company is generating increasing cash from operations? No
Yes Stock has active positive breakouts
Positive CFO for last 2 years

Ownership Peer Comparison

4 criteria met | 0 not met 0 criteria met | 3 not met

FII/FPI or DIIs are buying the stock? Company is giving better long term returns than the industry?
No
Yes
Institutions have been increasing stake in the company over the past Company is giving better long term returns than the industry
four quarters

Company's sales growth is better than the industry median?

Promoters are buying the stock or ownership is stable? No
Yes Company's sales growth is better than the industry median
Promoters are buying the stock or ownership is stable

Company's profit growth is better than the industry median?

Promoter pledge is low and not increasing? No
Yes Company's profit growth is better than the industry median
Promoter pledge is low and not increasing

Insiders have not sold stock in the past 3 months?

Yes
Insider have not sold stock in the past 3 months

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 BRITANNIA INDUSTRIES LTD. Trendlyne Stock Report
Packaged Foods Oct 15, 2024 03:31 PM
FMCG

Forecaster

Consensus Recommendation Share Price Target

Consensus Recommendation Share Price Target (Avg)

BUY ₹5900.06 (-2.8% upside)
7500

10 11 9 9 7000 7010.0
10 10

6500
9 6 7 7
8 8
6000
5900.1

11 14 14 14 5500
13 13

5000
5 3 3 4 4 4
4750.0
2024-05-04 2024-06-29 2024-07-30 2024-08-30 2024-09-29 2024-10-15 4500
FY22 FY23 FY24 FY25 FY26
Strong Buy Buy Hold Sell Strong Sell
Future Avg. Estimate High Estimate Low Estimate

The consensus recommendation from 35 analysts for Britannia Industries Ltd. is BUY

Britannia Industries Ltd.'s share price target is below the current price, with a downside of 2.8%

Key Metrics - Average Estimates Actual Revenue Avg. Estimate

EPS Interest expense Net income

150 300 4k
113.5 175.2 172.1 2730.2
94.7 99.8 146.4 2401.3
12.0% -3.5% -4.7% 127.6 2272.4
1.8% 89.7 11.0% -1.4% 109.7 2161.8 10.9%
200 -28.5% 3k 2.2%
-1.0% -16.3% -1.0%
100 64.5 1552.4
-1.8% -1.8%
100 2k

50 0 1k
FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26

-1.8% 1.8% -1.0% 11.0% 12.0% -1.4% -3.5% -4.7% -28.5% -16.3% -1.8% 2.2% -1.0% 10.9% 0%
Surprises Estimate Surprises Estimate Surprises Estimate

EPS is expected to grow by 12.4% in FY25 Interest expense is expected to reduce by 22.2% in FY25 Net income is expected to grow by 12.2% in FY25
Britannia Industries Ltd.'s EPS was lower than average estimate Britannia Industries Ltd.'s Interest expense was lower than Britannia Industries Ltd.'s Net income was lower than average
2 times in past 3 years average estimate 3 times in past 3 years estimate 2 times in past 3 years

Depreciation & amortization Cash flow per share Dividend per share

500 200 150

318.6 343.5 92.9 102.3 115.3 134.4 85.3
291.1 58.5 72.0 76.3
5.7% 7.2% 12.8% 4.4% 7.4% 14.2% 10.6%
400 3.2% 150 47.1 23.1% 2.0% 3.6%
218.9 100
205.3 71.1 20.1%
3.2%
300 -2.3% 100 -24.1%

50
200 50

100 0 0
FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26

-2.3% 3.2% 3.2% 5.7% 7.2% -24.1% 12.8% 4.4% 7.4% 14.2% 20.1% 23.1% 2.0% 3.6% 10.6%

Surprises Estimate Surprises Estimate Surprises Estimate

Depreciation & amortization is expected to grow by 6.1% in Cash flow per share is expected to grow by 7.9% in FY25 Dividend per share is expected to grow by 3.8% in FY25
FY25 Britannia Industries Ltd.'s Cash flow per share was higher than Britannia Industries Ltd.'s Dividend per share was higher than
Britannia Industries Ltd.'s Depreciation & amortization was average estimate 2 times in past 3 years average estimate 3 times in past 3 years
higher than average estimate 2 times in past 3 years

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 BRITANNIA INDUSTRIES LTD. Trendlyne Stock Report
Packaged Foods Oct 15, 2024 03:31 PM
FMCG

Forecaster Actual Revenue Avg. Estimate

Free cash flow EBIT Revenue

4k 5k 25k
2219.1 2652.7 3158.1 3562.0 18297.5 20266.2
1959.3 2884.5
1730.8 9.4% 16.3% 9.1% 11.3% 16392.2 16844.2 8.3% 9.7%
3k 2.7% 4k 2541.8 -0.5%
4.8% 20k -0.6% -0.4%
2.5% 14040.5
2014.3
2k 1473.3 3k -0.7% 0.7%
-49.1%
15k
1k 2k

0 1k 10k
FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26

-49.1% 4.8% 2.7% 9.4% 16.3% -0.7% 2.5% -0.5% 9.1% 11.3% 0.7% -0.6% -0.4% 8.3% 9.7%
Surprises Estimate Surprises Estimate Surprises Estimate

Free cash flow is expected to grow by 10.3% in FY25 EBIT is expected to grow by 10.1% in FY25 Revenue is expected to grow by 9.1% in FY25
Britannia Industries Ltd.'s Free cash flow was higher than Britannia Industries Ltd.'s EBIT was lower than average estimate Britannia Industries Ltd.'s Revenue was lower than average
average estimate 2 times in past 3 years 2 times in past 3 years estimate 2 times in past 3 years

Capital expenditure Cash EPS

1500 150
89.4 101.6 112.3 126.7
663.8 18.3% 9.7% 11.3%
7.4% 125 -0.2%
319.9 467.7
1000
72.0% 20.1% 427.6 418.3
-31.3% -2.2% 74.1
100 -3.3%
500
75

0 50
FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26

72.0% 7.4% 20.1% -31.3% -2.2% -3.3% 18.3% -0.2% 9.7% 11.3%

Surprises Estimate Surprises Estimate

Capital expenditure is expected to reduce by 23.9% in FY25 Cash EPS is expected to grow by 10.8% in FY25
Britannia Industries Ltd.'s Capital expenditure was higher than Britannia Industries Ltd.'s Cash EPS was lower than average
average estimate 3 times in past 3 years estimate 2 times in past 3 years

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 BRITANNIA INDUSTRIES LTD. Trendlyne Stock Report
Packaged Foods Oct 15, 2024 03:31 PM
FMCG

Shareholding Summary Shareholding Trend

60%

Promoter 50.5% 50.5% 50.5% 50.5% 50.5% 50.5%

DII 16.8% 40%

FII 17.4% 21.3%

19.7% 19.0% 18.2% 17.4%
20%
14.0% 15.0%
12.6%
Public 15.2%

0%
Others -% Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55%
Promoter FII DII

Retail investors (Promoter) form the biggest shareholding segment Promoter , FII , DII , over the Jun 2024 quarter

Mutual Fund Holding and Action

300 Promoters holding remains unchanged at 50.55% in Jun 2024 qtr

Mutual Funds have increased holdings from 6.50% to 7.09% in Jun 2024 qtr.
210.0 217.0 212.0
195.0 200.0
200 184.0 Number of MF schemes remains unchanged at 34 in Jun 2024 qtr

FII/FPI have decreased holdings from 18.23% to 17.41% in Jun 2024 qtr
112.0 110.0 109.0
100.0
92.0 92.0
100
66.0 Number of FII/FPI investors increased from 936 to 937 in Jun 2024 qtr.
45.0
30.0 27.0 32.0
23.0
Institutional Investors have increased holdings from 33.99% to 34.23% in Jun 2024
0 qtr.
Apr-2024 May-2024 Jun-2024 Jul-2024 Aug-2024 Sep-2024

Net Holders Bought some / all Sold some / all

Major Shareholders Britannia Industries Ltd. : Jun '24

Promoters DII

Name Shares % Change % Name Shares % Change %

ASSOCIATED 44.8% - QUALIFIED 5.6% -39.1%

BISCUITS INSTITUTIONAL
INTERNATIONAL BUYER
LIMITED
LICI ULIP-GROWTH 3.7% -1.9%
FUND

Bulk / Block Deals

Date Client Name Deal Type Action Avg Price Qty Exchange

14 Nov'22 ISHARES CORE EMERGING MARKETS MAURITIUS CO Block Sell 4,098.6 169,925 NSE

14 Nov'22 ISHARES CORE MSCI EMERGING MARKETS ETF Block Purchase 4,098.6 169,925 NSE

03 Nov'22 ISHARES CORE EMERGING MARKETS MAURITIUS CO Block Sell 3,723.9 169,925 NSE

03 Nov'22 ISHARES CORE MSCI EMERGING MARKETS ETF Block Purchase 3,723.9 169,925 NSE

25 Oct'22 ISHARES CORE EMERGING MARKETS MAURITIUS CO Block Sell 3,802.9 91,419 BSE

25 Oct'22 ISHARES CORE MSCI EMERGING MARKETS ETF Block Purchase 3,802.9 91,419 BSE

17 Oct'22 ISHARES CORE EMERGING MARKETS MAURITIUS CO Block Sell 3,796.3 143,664 BSE

17 Oct'22 ISHARES CORE MSCI EMERGING MARKETS ETF Block Purchase 3,796.3 143,664 BSE

11 Oct'22 ISHARES CORE EMERGING MARKETS MAURITIUS CO Block Sell 3,797.8 140,481 BSE

11 Oct'22 ISHARES CORE MSCI EMERGING MARKETS ETF Block Purchase 3,797.8 140,481 BSE

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 BRITANNIA INDUSTRIES LTD. Trendlyne Stock Report
Packaged Foods Oct 15, 2024 03:31 PM
FMCG

Insider Trading / SAST

Reporting Date Insider Name Insider Type Regulation Action Avg Price Qty Mode

19 Oct'23 Life Insurance Corporation of India Other SAST Acquisition - 115,800 Market

10 Mar'22 Life Insurance Corporation of India Other SAST Acquisition - 120,000 Market

25 Nov'20 Varun Berry Director Insider Trading Disposal 3,556.6 24,425 Market Sale

21 Nov'20 Varun Berry Director Insider Trading Disposal 3,556.5 55,000 Market Sale

03 Nov'20 Varun Berry Director Insider Trading Acquisition 2,866.2 142,666 ESOP

30 Oct'20 Varun Berry Director Insider Trading Disposal 3,586.7 17,632 Market Sale

23 Oct'20 Varun Berry Director Insider Trading Disposal 3,451.5 20,000 Market Sale

08 Aug'20 Varun Berry Director Insider Trading Disposal 3,900 10,000 Market Sale

30 Jul'20 Varun Berry Director Insider Trading Acquisition 2,732.1 84,000 ESOS

27 Jun'20 NESS N WADIA Promoter & Director Insider Trading Acquisition 3,470 1,800 Market Purchase

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BRITANNIA INDUSTRIES LTD. Trendlyne Stock Report
Packaged Foods Oct 15, 2024 03:31 PM
FMCG

ABOUT THE COMPANY

Britannia Industries Ltd.

Britannia Industries is primarily involved in manufacturing and sale of various food products.
website: www.britannia.co.in

BRANDS OWNED BY THE COMPANY

50-50 Dairy Whitener DAIRY FRESH Cheese Slices Atta Kulcha

NICE TIME PURE MAGIC LITTLE HEARTS BOURBON GOOD DAY

MILK BIKIS TIGER MARIE GOLD NUTRICHOICE TREAT CRÈME WAFER

TOASTEA FUDGE IT ROLLYO TREAT CROISSANT LAYERZ

MUFFILLS Nut & Raisin Romance TIFFIN FUN GOBBLES Winkin Cow

MISSI Kulcha VitaRich JIM JAM + TREAT

MANAGEMENT INFORMATION

Rajneet Singh Kohli Venkataraman Natarajan T V Thulsidass Mr. Vinay Singh Kushwaha
Executive Director,Chief Executive Officer Executive Director,Chief Financial Officer Company Secretary Chief Technical Officer(Strategy Officer)

DIRECTOR INFORMATION

Varun Berry Nusli N Wadia Rajneet Singh Kohli Venkataraman Natarajan

Executive Vice Chairman & MD Chairman (Non-Executive) Executive Director & CEO Executive Director & CFO

171.6M 2024 68.1M 2024 53.3M 2024 33.0M 2024

Gross Remuneration Year Gross Remuneration Year Gross Remuneration Year Gross Remuneration Year

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 BRITANNIA INDUSTRIES LTD. Trendlyne Stock Report
Packaged Foods Oct 15, 2024 03:31 PM
FMCG

Detailed stock report terminology

Trendlyne’s stock report is a comprehensive company analysis report based on its durability, valuation and momentum scores along with the forecaster data, to give you a detailed analysis. The report
also includes Trendlyne’s checklist summary, technical analysis, peer comparison, mutual fund holdings details, insider trading and more.

Durability Score Trendlyne Checklist Score

Durability scores are calculated from 0-100, with zero the worst and 100 the best. Trendlyne Checklist evaluates a stock based on its financial performance, ownership,
Durability scores above 55 are considered good(G) and below 35 are considered bad(B). peer comparison, value and momentum. This helps give an overall performance of the
Scores between 35-55 are considered neutral/Medium/Middle(M). company based on the score.
Stocks with a high durability score (top 20 percentile) are companies that have
consistently and over time, demonstrated good growth and cash flow, stable revenues
and profits, and low debt. PE buy/sell zone
The durability score considers several different metrics and ratios around earnings and
models these over time. Our stocks with high durability scores outperform the index The PE buy/sell zone is calculated based on how many days a stock has traded at its
significantly current PE level. The current PE is compared to the stock’s historical PE performance, to
find out how often (for how many days in the past) the stock has traded at its current PE
value.
Valuation Score If the stock has usually traded above its current PE level (it’s at a higher PE for the
majority of trading days), then the stock is cheaper than usual and in the PE buy zone.
Valuation scores are calculated from 0-100, with zero the worst and 100 the best. If the stock has usually traded below its current PE level (it’s at a lower PE for the
Valuation scores above 50 are considered good(G) and below 30 are considered bad(B). majority of trading days), then the stock is more expensive than usual and in the PE sell
Scores between 30-50 are considered neutral/Medium/Middle(M) zone.
Stocks with a high valuation score (top 20 percentile) are companies whose business
and financial advantages have not yet been priced into their share price. These
companies typically have strong earnings but are currently flying under the radar, and Price Volume Charts
Trendlyne’s valuation score helps shine a spotlight on these companies.
Firms with a low valuation score (bottom 20 percentile) are expensive stocks that have Price volume charts are a type of financial chart that combines two key pieces of
good broker coverage and already have their strengths priced in. They are popular but information about a stock: its price and trading volume. They are commonly used in
pricey. If you are buying them now it would be for a steep price tag: valuation scores technical analysis to identify trends and patterns in the market.
help you identify that. In a price volume chart, the price of the security is plotted on the vertical axis, while the
trading volume is shown on the horizontal axis. Each data point on the chart represents
a single trading day, and the size of the data point may be proportional to the trading
Momentum Score volume.

Scores are calculated from 0-100, with zero being the worst and 100 the best.
Momentum scores above 59 are considered good(G) and below 30 are considered Peer Comparison
bad(B). Scores between 30-59 are considered neutral/Medium/Middle(M)
Momentum score or momentum score identifies the bullish/bearish nature of the stock. Peer comparison in financial analysis is a method of comparing the financial
Stocks with a high momentum score (which is calculated daily from over 30 technical performance and position of one company to its competitors or peers in the same
indicators) are seeing their share price rise, and increase in volumes and sentiment. industry or sector. The purpose of this comparison is to gain insights into how the
A low and falling momentum score indicates a falling share price. The pace at which this company is performing relative to its competitors and to identify areas where it may be
is changing is also important for the momentum score. underperforming or overperforming. In Trendlyne’s stock report, DVM scores are also
included in the peer comparison section.

Analyst recommendation
Technical Analysis
Analyst recommendation of a stock is an assessment made by financial analysts or
brokerage firms about the investment potential of a particular stock. It is usually based Technical analysis is a method of analyzing stocks and other financial instruments that
on a thorough analysis of the company's financial performance, market trends, industry relies on charts and statistical indicators to identify trends and patterns in price and
outlook, and other factors that may impact the stock's value. trading volume.
The analyst recommendation of a stock typically takes the form of a rating or a Key momentum metrics included - relative strength index (RSI), Stochastic RSI, Ultimate
recommendation, such as "buy," "hold," or "sell." The recommendation is usually Oscillator, moving average convergence divergence (MACD), average true range (ATR),
accompanied by a price target, which is the analyst's estimate of the stock's fair value. money flow index (MFI), William, CCI 20 and Awesome Oscillator. Simple and
A low and falling momentum score indicates a falling share price. The pace at which this exponential moving averages are also included.
is changing is also important for the momentum score. To analyse the volatility of the stock, Beta over different periods of time, Average
Directional Movement Index and Bollinger bonds are used. Along with this, active
candlesticks, daily volume analysis is also provided in the rapport.

Disclaimer
© 2024 Giskard Datatech Pvt Ltd
Republication or redistribution of Giskard content, including by framing or similar means, is prohibited without the prior written consent of Giskard. All information in this report is assumed to be
accurate to the best of our ability. Giskard is not liable for any errors or delays in Giskard content, or for any actions taken in reliance on such content. Any forward-looking statements included in the
Giskard content are based on certain assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations.

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