MarketFriction

Britannia Industries Ltd

NSE BRITANNIA · BSE 500825 · Packaged Foods
₹4,778.00 -1.08%
NSE close2026-10-01
52 week range4,758.00 - 6,271.00
Market cap₹1,16,460 Cr.
P/E44.7
Nifty Next 50Nifty 100Nifty 200Nifty 500Nifty FMCGNifty MNCNifty India Consumption No price band Delivery 60.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales4,4334,2564,0694,2504,6684,5934,4324,6224,8414,9704,7195,000
Expenses3,5623,4373,2863,4973,8883,7503,6323,8703,8893,9923,8854,162
Operating Profit871820784753780843801752951977834838
OPM %20%19%19%18%17%18%18%16%20%20%18%17%
Other Income524857314662635752595561
Interest533126293545312635331923
Depreciation727880747682818285858580
Profit before tax799758735681715778752701884919785797
Tax %27%27%27%26%26%25%26%26%26%26%13%26%
Net Profit586556537505532582559520655682680593
EPS in Rs24.3923.1022.3520.9922.0624.1523.2521.6227.1728.2328.1624.55
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8,3979,0549,91411,05511,60013,13614,13616,30116,76917,94319,15219,529
Expenses7,1747,7768,4139,3229,75610,62711,93513,47013,60314,76615,63715,929
Operating Profit1,2241,2781,5011,7321,8432,5092,2012,8313,1673,1763,5143,600
OPM %15%14%15%16%16%19%16%17%19%18%18%18%
Other Income115151166206263313222597211202224228
Interest558977111144169164139113109
Depreciation113119142162185198201226300313337334
Profit before tax1,2201,3041,5181,7681,8442,5142,0783,0332,9132,9273,2893,385
Tax %32%32%34%35%24%26%27%24%27%26%23%
Net Profit8258851,0041,1551,3941,8511,5162,3162,1342,1782,5372,610
EPS in Rs34.3636.8541.8348.2358.3377.3863.3196.3988.8490.45105.18108.11
Dividend Payout %29%30%30%31%60%204%89%75%83%83%86%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth9%8%6%7%
Compounded Profit Growth12%6%8%19%
Stock Price CAGR11%4%2%-19%
Return on Equity46%56%54%54%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital242424242424242424242424
Reserves1,2212,0682,6723,3824,2294,3793,5242,5343,5103,9174,3325,082
Borrowings1451311252011561,5382,1072,4812,9972,0651,2471,380
Other Liabilities1,4031,2711,2881,5811,8291,8892,3452,4872,8193,0653,2353,243
Total Liabilities2,7933,4944,1095,1886,2387,8308,0007,5279,3519,0728,8379,730
Fixed Assets8449501,1601,3461,6881,8781,7931,7532,6552,7712,9042,850
CWIP489030203101401175361051888939
Investments5187884871,0791,4762,8932,7811,7623,3242,7672,8653,610
Other Assets1,3831,6652,4322,5602,9723,0193,3103,4753,2663,3462,9783,232
Total Assets2,7933,4944,1095,1886,2387,8308,0007,5279,3519,0728,8379,730
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity5849594411,2491,1561,4851,8511,3002,5262,5732,4912,612
Cash from Investing Activity-450-705-150-957-852-1,526459914-1,50748569-741
Cash from Financing Activity-181-246-295-232-35358-2,244-2,246-1,028-2,839-2,754-1,783
Net Cash Flow-478-460-491766-32-9219-19488
Free Cash Flow631710898287561,2411,6117521,8932,0852,1202,408
CFO/OP102%111%66%116%101%108%99%86%115%105%100%98%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days677111310797999
Inventory Days313243394339525745454344
Days Payable555649596355635555636062
Cash Conversion Cycle-17-161-9-7-6-410-2-9-9-9
Working Capital Days-22-5281727-1-22-31-31-30-23-28
ROCE %66%68%52%47%44%37%45%41%49%49%53%56%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters50.55%50.55%50.55%50.55%50.55%50.55%50.55%50.55%50.55%50.55%50.55%50.55%
FIIs19.66%18.99%18.23%17.41%17.91%16.46%15.72%15.58%15.02%14.88%15.63%13.40%
DIIs13.84%14.84%15.63%16.69%16.37%17.58%18.26%18.65%19.39%19.55%18.82%20.88%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.03%0.05%0.05%
Public15.94%15.62%15.57%15.36%15.18%15.41%15.48%15.20%15.03%14.97%14.94%15.13%
No. of Shareholders2,84,8922,60,4442,63,6232,54,8152,51,8512,90,3062,92,5042,72,9142,62,1392,55,9392,51,4662,68,246

Fundamentals

Market Cap₹ 1,16,460 Cr.
Current Price₹ 4,835
Stock P/E44.7
Book Value₹ 212
ROCE56.0 %
ROE53.5 %
Dividend Yield1.87 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)7%
Compounded Profit Growth (TTM)19%
Consolidated figures.
Valuation
Market capRs 115,087 Cr
Enterprise valueRs 116,115 Cr
P/E (TTM)44.19x
Price to book22.54x
Price to sales5.89x
EV / EBITDA30.33x
EV / EBIT33.23x
EV / sales5.95x
Price to cash flow44.07x
Earnings yield2.26%
Dividend yield1.89%
P/E, 3-year average53.81x
P/B, 3-year average27.63x
P/E, 5-year average51.38x
P/B, 5-year average28.51x
Profitability
Operating margin (excl. other income)18.35%
Operating margin (incl. other income)19.52%
EBITDA margin19.61%
Pre-tax margin17.33%
Net profit margin13.33%
Net margin, latest quarter11.83%
ROE53.55%
ROCE56.27%
ROA27.29%
ROE, 3-year average54.44%
ROCE, 3-year average52.73%
ROA, 3-year average24.95%
ROE, 5-year average57.90%
ROCE, 5-year average51.02%
ROA, 5-year average24.40%
ROIC (approx.)43.95%
Tax rate22.86%
Other income / net worth4.39%
Growth
Sales growth (latest year)6.74%
Profit growth (latest year)16.28%
Sales CAGR, 3 years5.52%
Sales CAGR, 5 years7.83%
Profit CAGR, 3 years2.95%
Profit CAGR, 5 years6.33%
Sales growth QoQ5.96%
Profit growth QoQ-12.82%
Sales growth YoY (latest quarter)8.17%
Profit growth YoY (latest quarter)13.56%
Per share
EPS (TTM)Rs 108.11
EPS (latest year)Rs 105.18
EPS (latest quarter)Rs 24.55
EPS, 3-year averageRs 94.82
EPS, 5-year averageRs 88.83
Book value per shareRs 212.01
Sales per shareRs 810.79
Cash flow per shareRs 108.42
Free cash flow per shareRs 99.97
Dividend per share (latest year)Rs 90.51
Dividend per share, 3-year averageRs 79.68
Dividend per share, 5-year averageRs 73.51
Dividends
Dividend payout86.05%
Dividend payout, 3-year average83.91%
Dividend payout, 5-year average83.14%
Efficiency
Asset turnover1.97x
Fixed asset turnover6.72x
Inventory turnover9.21x
Inventory days40 days
Debtor days9 days
Debtors turnover40.82x
Creditor days62 days
Cash conversion cycle-9 days
Working capital days-28 days
Leverage
Total debtRs 1,380 Cr
Cash and bankRs 352 Cr
Net debtRs 1,028 Cr
Debt to equity0.27x
Net debt / EBITDA0.27x
Interest coverage31.92x
Current ratio (filing 2026-03-31)1.12x
Quick ratio (filing 2026-03-31)0.80x
Trade payables (filing 2026-03-31)Rs 1,896 Cr
Owners' fund to total sources52.48%
Debt to assets14.19%
Cash flow
Cash from Operating Activity (latest year)Rs 2,612 Cr
Cash from Investing Activity (latest year)Rs -741 Cr
Cash from Financing Activity (latest year)Rs -1,783 Cr
Net Cash Flow (latest year)Rs 88 Cr
Free cash flow (latest year)Rs 2,408 Cr
FCFE (approx.: FCF + change in debt)Rs 2,542 Cr
Cash from ops / profit, 5 years1.08x
Sales to cash flow7.33x
Statement figures
Net sales (TTM)Rs 19,529 Cr
Net sales (latest year)Rs 19,152 Cr
Sales (latest quarter)Rs 5,000 Cr
Operating profit excl. other income (latest year)Rs 3,514 Cr
Operating profit (latest quarter)Rs 838 Cr
Other income (TTM)Rs 228 Cr
EBITDA (TTM)Rs 3,829 Cr
PBDT (TTM)Rs 3,719 Cr
Profit before tax (TTM)Rs 3,385 Cr
Tax (latest year)Rs 752 Cr
Net profit (TTM)Rs 2,604 Cr
Net profit (latest year)Rs 2,533 Cr
Net profit (latest quarter)Rs 591 Cr
Depreciation (TTM)Rs 334 Cr
Depreciation (latest quarter)Rs 80 Cr
Interest (TTM)Rs 109 Cr
Cost of goods sold (latest year)Rs 12,396 Cr
Total expenditure (latest year)Rs 15,637 Cr
Total income (latest year)Rs 19,376 Cr
Share capitalRs 24 Cr
ReservesRs 5,082 Cr
Shareholders' fundsRs 5,107 Cr
Total assetsRs 9,730 Cr
Net blockRs 2,850 Cr
Capital work in progressRs 39 Cr
InvestmentsRs 3,610 Cr
ReceivablesRs 469 Cr
InventoryRs 1,346 Cr
Other liabilitiesRs 3,243 Cr
Shares outstanding (crore)24.09
Ownership
Promoter holding50.55% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 44.2 is at the 2th percentile of its own 9.4-year range (median 60.8, low 41.4, high 80.8).
P/B 22.54 is at the 40th percentile (median 24.62).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodBRITANNIANifty 50Difference
1 week-2.4%-2.8% +0.4 pts
1 month-7.9%-6.8% -1.1 pts
3 months-11.2%-7.6% -3.6 pts
6 months-11.9%+0.4% -12.3 pts
1 year-19.7%-9.9% -9.8 pts
2 years-23.1%-13.6% -9.5 pts
3 years+5.3%+14.2% -8.9 pts
5 years+21.9%+27.9% -6.0 pts
294 mutual fund schemes hold about ₹14,089 Cr. Over three months 208 bought more and 63 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
ICICI Pru Balanced Advantage Fund(M1.12%848 -1%
HDFC Flexi Cap Fund0.70%792 +8%
ICICI Pru India Opp Fund2.04%783 +31%
ICICI Pru Large Cap Fund0.91%733 +8%
ICICI Pru Focused Fund3.41%611 +1%
Mirae Asset Large Cap Fund1.48%574 +10%
SBI Large Cap Fundd0.83%456 +15%
HDFC Multi Cap Fund2.11%435 +12%
HDFC Balanced Advantage Fund0.39%420 +14%
SBI ELSS Tax Saver Fund1.22%388 +26%
Aditya Birla SL Large Cap Fund1.24%368 +79%
ICICI Pru Aggressive Hybrid Fund(A0.59%309 -21%
Franklin India Flexi Cap Fund1.56%303 +14%
Axis Large Cap Fund0.94%297 +13%
HDFC ELSS-Tax Saver Fund1.72%275 +13%
ICICI Pru Multi Asset Allocation Fund0.29%256 +11%
ICICI Pru Nifty Next 50 Index Fund2.43%246 +11%
ICICI Pru Flexi Cap Fund0.95%246 -0%
Franklin India Focused Equity Fund1.82%210 +100%
ICICI Pru Large & Mid Cap Fund0.60%201 +6%
UTI Nifty Next 50 Index Fund2.44%184 +11%
Kotak ELSS Tax Saver Fund2.34%150 +11%
SBI MNC Fund1.95%131 -10%
Canara Rob Large Cap Fund0.73%125 +12%
ICICI Pru Dividend Yield Fund1.80%121 +13%

Red flags

F-score 6 of 8
lookRegulator order or action Regulator order or action 2026-03-03: Pursuant to Regulation 30 read with Clause 20 of Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015, this is to inform y
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-09-16Life Insurance Corporation of IndiAcquirerbuy53,260SAST Others
2020-11-24Varun BerryDirectorsell24,425Rs 8.69 CrMarket Sale
2020-11-23Varun BerryDirectorsell45,241Rs 16.15 CrMarket Sale
2020-11-20Varun BerryDirectorsell55,000Rs 19.56 CrMarket Sale
2020-11-17Varun BerryDirectorsell18,000Rs 6.39 CrMarket Sale
2020-11-02Varun BerryDirectorother142,666Rs 40.89 CrESOP
2020-10-28Varun BerryDirectorsell17,632Rs 6.32 CrMarket Sale
2020-10-27Varun BerryDirectorsell130,000Rs 46.15 CrMarket Sale
2020-10-22Varun BerryDirectorsell20,000Rs 6.90 CrMarket Sale
2020-08-07Varun BerryDirectorsell10,000Rs 3.90 CrMarket Sale
2020-07-28Varun BerryDirectorother84,000Rs 22.95 CrESOP
2020-07-21Varun BerryDirectorsell9,500Rs 3.80 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹5,000 Cr +8.2% vs Jun 2025. Net profit ₹593 Cr +14.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-31Dividend - Rs 90.50 Per Share
2025-08-04Dividend - Rs 75 Per Share
2024-08-05Annual General Meeting/ Dividend - Rs 73.5 Per Share
2023-08-21Annual General Meeting
2023-04-13Interim Dividend - Rs 72 Per Share
2022-06-20Annual General Meeting/Dividend - Rs 56.50 Per Share
2021-08-30 Annual General Meeting
2021-05-25 Scheme Of Arangement- Bonus - 1 Debenture For 1 Equity Share Held
2021-05-25 Dividend - Rs 12.50 Per Share Pursuant To Scheme
2021-04-08 Interim Dividend - Rs 62 Per Share
2020-08-26 Interim Dividend - Rs 83 Per Share
2020-06-29 Annual General Meeting
2020-04-29 Interim Dividend-Rs 35 Per Share
2019-08-22 Scheme Of Arangement- Bonus - 1 Debenture For 1 Equity Share Held
2019-08-01 Annual General Meeting/ Dividend - Rs 15 Per Share
2018-11-29 Face Value Split (Sub-Division) - From Rs 2/- Per Share To Re 1/- Per Share0.5000
2018-07-27 Annual General Meeting / Dividend- Rs 25 Per Share
2017-07-28 Annual General Meeting/Dividend - Rs 22/- Per Share
2016-07-29 Annual General Meeting/Dividend Rs 20/- Per Share
2015-07-27Annual General Meeting/Dividend - Rs 16/- Per Share
2014-07-23Annual General Meeting / Dividend - Rs 12/- Per Share
2013-07-23Annual General Meeting/Dividend - Rs.8.50 Per Share
2012-07-17Annual General Meeting/Dividend - Rs.8.50 Per Share
2011-07-19Annual General Meeting / Dividend - Rs.6.50 Per Share
2010-09-08Face Value Split From Rs.10/- To Rs.2/-0.2000
2010-07-23Dividend-Rs.25/- Per Share
2010-03-08Sch Of Agmt- Bonus Deb1:1
2009-08-14Annual General Meeting
2009-06-09Int Div-Rs.40/- Per Share
2008-07-14Agm/Dividend-180%
2007-08-30Agm/Div-Rs.15/- Per Sh
2006-07-18Agm/Div-Rs.15/- Per Sh Bc Dates Revised
DateTypeWhat it says
2026-09-29Change in ManagementChange in Management
2026-09-29Board meeting outcomeOutcome of Board Meeting held on September 29, 2026.
2026-09-18General UpdatesPursuant to Regulation 30 read with Clause 3 of Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015, this is to inform you that Nic...
2026-09-16General UpdatesUpdate on Analyst/Institutional Investor Meet (Group Meet) scheduled to be held on Thursday,17th September, 2026.
2026-09-10Concall / analyst meetPursuant to Regulation 30 read with Clause 15 of Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015, this is to inform you that th...
2026-08-31Change in ManagementPursuant to Regulation 30 read with Clause 7 of Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015, this is to inform you that Mr....
2026-08-27General UpdatesPursuant to Regulation 30 read with Clause 3 of Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015, this is to inform you that Cri...
2026-08-21Concall / analyst meetWith reference to the subject cited above and our letter dated 11th August, 2026 regarding the Schedule of Analysts/Institutional Investors Meets, thi...
2026-08-14Concall / analyst meetWith reference to the subject cited above and our letter dated 11th August, 2026 regarding the Schedule of Analysts/Institutional Investors Meets, thi...
2026-08-12Concall / analyst meetPursuant to Regulation 30 read with Clause 15 of Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015, please find enclosed the Tran...
2026-08-11Concall / analyst meetPursuant to Regulation 30 read with Clause 15 of Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015, this is to inform you that th...
2026-08-07Shareholder meetingPursuant to Regulation 30 read with Clause 13 of Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015, please find enclosed the summ...
2026-08-07Shareholder meetingVoting results.
2026-08-07Concall / analyst meetPursuant to Regulation 30 read with Clause 15 of Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015, please find the link for the ...
2026-08-07Investor PresentationInvestor Presentation
2026-08-06Change in ManagementPursuant to Regulation 30 read with Clause 7 of Para A of Part A of Schedule III of the SEBI ListingRegulations, 2015, this is to inform you that base...
2026-08-06Director changeChange in Director(s) of the company.
2026-08-06Press ReleaseA press release dated August 06, 2026, titled "Britannia s Consolidated Sales for the quarter grew 9.5%, while Net profit grew 14.1%".
2026-08-06Board meeting outcomeBritannia Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-02Change in ManagementPursuant to Regulation 30 read with Clause 7 of Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015, this is to inform you that bas...
2026-07-31General UpdatesPursuant to Regulation 30 read with Clause 7 of Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015 and our letter dated 31st March...
2026-07-31Shareholder meetingVoting results.
2026-07-29Concall / analyst meetPursuant to Regulation 30 read with Clause 15 of Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015, this is to inform you that th...
2026-07-17General UpdatesCommunication to the Shareholders describing the brief provisions of the Income Tax Act, 2025 and the documents required for Deduction of Tax at Sourc...
2026-07-17UpdatesAnnual Report for FY 2025-26 and Notice of the 107th AGM.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.71
Max pain (expiry 2026-10-27)4,900
Largest call open interest at5,200
Largest put open interest at5,000
Implied volatility, at the money19.9%
Underlying at snapshot4,778.00
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-301,371
2026-09-29375
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-07-06NCLTBimal Kumar Shah Vs Britannia Industries Ltd. & Ors.
2021-05-07NCLTBRITANNIA INDUSTRIES LIMITED Vs
2021-03-23NCLTBimal Kumar Shah Vs Britannia Industries Ltd. & Ors.
2017-11-30CESTATBRITANNIA INDUSTRIES LIMITED ---VS.--- DELHI - I
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Britannia Industries Ltd?

Britannia Industries Ltd (BRITANNIA) has a market capitalisation of Rs 1,16,460 Cr. at the 2026-10-01 close.

What is the P/E ratio of Britannia Industries Ltd?

Britannia Industries Ltd trades at a P/E of 44.7 on trailing twelve-month profit, at the 2026-10-01 close.

What were Britannia Industries Ltd's latest quarterly results?

In the Jun 2026 quarter, Britannia Industries Ltd sales was Rs 5,000 Cr (+8.2% vs Jun 2025) and net profit was Rs 593 Cr.

What is the 52-week high and low of Britannia Industries Ltd?

The 52-week high is Rs 6,271.00 and the 52-week low is Rs 4,758.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03