As of 6 Nov 2026, Britannia Industries trades at 43.2× trailing earnings, above the industry P/E of 19.5×, and the shares are 24% below their 52-week high. It earns ROCE of 61% and ROE of 67%, and sales and net profit grew 5.7% and 3.0% a year over 3 years. Its dividend yield is 1.9%, and debt is 0.61× equity. It is a large-cap company with a market cap of ₹1.2 lakh crore, ranked 2nd of 127 Packaged Foods companies by market cap; the shares fell 15% over the past year.
- ₹5,050.00
- ₹5,098.30
- ₹4,712.50
- ₹4,980.30
- 5.5 L
Health check
- ReturnsBehind
−15.5% over a year, better than 2 of 7 peers.
- Price tagPricier
P/E 43.2 vs industry 19.5.
- GrowthSlow
Sales +5.7%, profit +3.0% a year over 3 years.
- ProfitabilityStrong
ROCE 61.2% vs peer median 11.2%.
- Balance sheetFair
Debt 0.61× equity, interest covered 31.0×, Piotroski 8 of 9.
- Red flags1 to check
P/E of 43.2 against an industry P/E of 19.5.
Large cap
Defensive
Key metrics
- Market cap
- ₹1.2L Cr
- Large cap
- P/E
- 43.2
- Industry 19.5
- Price to book
- 27.13
- Peers 4.86
- Dividend yield
- 1.89%
- ROE
- 66.7%
- Peers 11.1%
- ROCE
- 61.2%
- Peers 11.2%
- Debt to equity
- 0.61
- Debt ₹2,616 Cr
- EPS (TTM)
- ₹110.87
- Face value ₹1
- OPM (TTM)
- 18.4%
- Net margin 13.2%
- Sales growth
- +15.6%
- Latest quarter vs a year ago
- Profit growth
- +10.2%
- Latest quarter vs a year ago
- Price to sales
- 5.70
- EV/EBITDA 31.5
Strengths and risks
Strengths
- Return on equity of 66.7%.
- Return on capital employed of 61.2%.
- Quarterly sales up 15.6% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- P/E of 43.2 against an industry P/E of 19.5.
About Britannia Industries
Britannia Industries Limited engages in manufacturing, trading, and sale of various food products in India and internationally. The company offers biscuits under the Good Day, Marie Gold, NutriChoice, Milk Bikis, Tiger, 50-50, Jim Jam, Britannia Bourbon, Little Hearts, Treat, Pure Magic, Nice Time, and Biscafe brand names; cakes under the Muffills, Fudge It, Gobbles, Layerz, Tiffin Fun, Rollyo, and Nut & Raisin Romance Cake brand names; rusks under the…
- Headquarters
- Bengaluru
- Employees
- 5,682
- Sector
- Consumer Defensive
- ISIN
- INE216A01030
- Website
- britannia.co.in
Price range
- Avg volume (3M)
- 2.7 L
- 1-year return
- minus 15.5%
- From 52-week high
- minus 23.7%
Analyst consensus
Peers · Packaged Foods
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NESTLEINDNestle India | 1,282.10 | plus 1.89% | 2,47,229 | 60.6 | 42.76 | – | 79.9% | 21.0% | – | – | 0.94% | minus 0.5% |
| BRITANNIABritannia Industries | 4,785.00 | minus 3.92% | 1,15,255 | 43.2 | 27.13 | 61.2% | 66.7% | 18.4% | 5.7% | 3.0% | 1.89% | minus 15.5% |
| TATACONSUMTata Consumer Products | 1,086.30 | plus 0.80% | 1,07,511 | 63.3 | 4.86 | 8.3% | 7.6% | 14.0% | 13.9% | 8.6% | 0.92% | minus 8.6% |
| PATANJALIPatanjali Foods | 411.50 | plus 0.19% | 44,776 | 22.7 | 3.42 | 11.2% | 14.8% | 4.2% | 8.7% | 27.0% | 0.98% | minus 28.6% |
| HATSUNHatsun Agro Product | 1,068.10 | plus 0.33% | 23,792 | 66.0 | 12.07 | 20.2% | 19.0% | 10.7% | 11.2% | 29.0% | 1.87% | plus 2.4% |
| MILKYMISTMilky Mist Dairy Food | 297.20 | plus 0.93% | 22,880 | 91.2 | 8.88 | – | 9.7% | 10.1% | – | – | 0.00% | plus 63.7% |
| AWLAWL Agri Business | 167.00 | minus 0.48% | 21,573 | 18.7 | 1.98 | 15.3% | 11.1% | 2.9% | 8.7% | 21.4% | 0.60% | minus 39.5% |
| ZYDUSWELLZydus Wellness | 468.60 | minus 1.29% | 14,909 | 60.5 | 2.53 | 3.4% | 4.2% | 13.1% | 20.7% | −14.0% | 0.26% | plus 2.5% |
| Median of 7 peers | – | 0.33% | 23,792 | 60.6 | 4.86 | 11.2% | 11.1% | 10.7% | 11.2% | 21.4% | 0.92% | −0.5% |
Quarterly results
| ₹ Cr | Jun 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 4,535 | 4,885 | 4,686 | 4,964 | 5,542 | |
| 3,778 | 3,905 | 3,833 | 4,124 | 4,520 | |
| 757 | 980 | 853 | 840 | 1,022 | |
| 16.7% | 20.1% | 18.2% | 16.9% | 18.4% | |
| 52.2 | 56.8 | 36.2 | 59.6 | 70.1 | |
| 26.2 | 33.3 | 18.7 | 22.9 | 35.8 | |
| 82 | 84.5 | 85.2 | 79.5 | 78.6 | |
| 701 | 919 | 785 | 797 | 977 | |
| 25.8% | 25.8% | 13.4% | 25.6% | 25.7% | |
| 521 | 680 | 678 | 591 | 721 | |
| 21.62 | 28.23 | 28.16 | 24.55 | 29.93 |
Profit & loss
- Sales CAGR 3Y
- +5.7%
- Profit CAGR 3Y
- +3.0%
- EPS CAGR 3Y
- +3.0%
- ROE
- 66.7%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 15,985 | 16,546 | 17,535 | 18,858 | |
| – | +3.5% | +6.0% | +7.5% | |
| 13,148 | 13,376 | 14,348 | 15,313 | |
| 2,837 | 3,170 | 3,187 | 3,545 | |
| 17.7% | 19.2% | 18.2% | 18.8% | |
| 175 | 184 | 131 | 140 | |
| 166 | 162 | 136 | 110 | |
| 226 | 300 | 313 | 337 | |
| 413 | 22.7 | 57.8 | 50.9 | |
| 3,033 | 2,913 | 2,927 | 3,289 | |
| 23.6% | 26.7% | 25.6% | 22.9% | |
| 2,322 | 2,140 | 2,179 | 2,533 | |
| – | minus 7.8% | +1.8% | +16.3% | |
| 96.39 | 88.84 | 90.45 | 105.18 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 24.1 | 24.1 | 24.1 | 24.1 | |
| 3,510 | 3,917 | 4,332 | 5,082 | |
| 3,008 | 2,075 | 1,264 | 1,398 | |
| 2,811 | 3,057 | 3,219 | 3,228 | |
| 9,353 | 9,074 | 8,839 | 9,732 | |
| 2,606 | 2,830 | 2,850 | 2,719 | |
| 134 | 227 | 116 | 46.3 | |
| 1,029 | 582 | 1,281 | 1,530 | |
| 1,948 | 2,097 | 1,377 | 1,949 | |
| 3,637 | 3,338 | 3,214 | 3,488 | |
| 9,353 | 9,074 | 8,839 | 9,732 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,526 | 2,573 | 2,491 | 2,612 | |
| −1,517 | 484 | 66.4 | −757 | |
| −1,028 | −2,839 | −2,754 | −1,783 | |
| −19.2 | 218 | −197 | 71.7 | |
| −711 | −553 | −375 | −206 | |
| 1,815 | 2,020 | 2,116 | 2,406 | |
| −1,359 | −1,732 | −1,768 | −1,804 |
Shareholding pattern
- Promoters50.55%
- Public49.45%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 50.55% | 49.45% | 0.00 | |
| 30 Jun 2026 | 50.55% | 49.45% | 0.00 | |
| 31 Mar 2026 | 50.55% | 49.45% | 0.00 | |
| 31 Dec 2025 | 50.55% | 49.45% | 0.00 | |
| 30 Sep 2025 | 50.55% | 49.45% | – |
Major shareholders
Filings & events
News
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