28 Jan 2022 , 07:46 PM
During the December 2021 quarter, Britannia reported high single-digit growth in volumes on a yoy basis. Rural markets across the FMCG verticals saw a significant slowdown in the quarter.
Good Day biscuits was re-launched with the concept of “Multiple smiles per pack”. As the market leader, Britannia had effected price increases across categories, although it was not enough to tackle the 20% cost inflation yoy.
In terms of specifics, the company saw a you spike of 22% in the raw material costs at Rs1,818cr. Inventory costs were also higher by 40% yoy. Operating margins fell from 17.78% in Dec-20 quarter to 13.69% in the Dec-21 quarter. Operating margins marginally lower sequentially.
Due to higher debt and lower profits, the interest service coverage and the debt service coverage had to take a hit on yoy basis. PAT margins fell from 14.40% in the Dec-20 quarter to 10.38% in the Dec-21 quarter. The PAT margins were lower on a sequential basis by 27 bps.
Financial highlights for Dec-21 compared yoy and sequentially
Britannia Ltd | |||||
Rs in Crore | Dec-21 | Dec-20 | YOY | Sep-21 | QOQ |
Total Income (Rs cr) | ₹ 3,574.98 | ₹ 3,165.61 | 12.93% | ₹ 3,607.37 | -0.90% |
EBITDA (Rs cr) | ₹ 489.34 | ₹ 562.94 | -13.07% | ₹ 508.17 | -3.71% |
Net Profit (Rs cr) | ₹ 371.18 | ₹ 455.75 | -18.56% | ₹ 384.22 | -3.39% |
Diluted EPS (Rs) | ₹ 15.41 | ₹ 18.92 | ₹ 15.95 | ||
EBITDA Margin | 13.69% | 17.78% | 14.09% | ||
Net Margins | 10.38% | 14.40% | 10.65% |
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.