Q1FY24 Preview: Britannia Industries: Revenue seen at Rs. 40,557 million, PAT at Rs. 5,163 million

3 Aug 2023 , 10:57 AM

Result date: 4^th August, 2023

Recommendation:  Add

Target price: Rs. 5,200

Britannia Industries (Britannia) could post mid-single digit growth in domestic volumes as compared to the year-ago quarter. This coupled with price hikes could lead to 11% growth in revenue over the year-ago quarter. Britannia continues to gain market share and is witnessing healthy response to its new products. Expanding reach in rural markets is another important growth enabler for the company.

Analysts at IIFL Capital Services expect Britannia’s EBITDA to grow 47.1% over the year-ago quarter, partly due to a lower base effect.

Britannia’s Profit After Tax (PAT) could grow 53.1% over the year-ago quarter.

	June 2023 estimates	YoY change
Revenue	40,557	11.0%
EBITDA	7,364	47.1%
Profit After Tax	5,163	53.0%

Source: IIFL Research