Q2FY24 Preview: Britannia Industries: Revenue seen at Rs. 45,545 million, PAT at Rs. 5,583 million

30 Oct 2023 , 11:38 AM

Result date: November 1, 2023

Recommendation: Add

Target price: Rs. 5,250

Analysts at IIFL Capital Services expect Britannia Industries (Britannia) to post flat volumes for the September 2023 quarter. They estimate value growth of ~5% as compared to the year-ago quarter, largely driven by pricing growth.

The company’s EBITDA margin could witness expansion of 100 basis points as compared to the year-ago quarter, but the same will remain flat sequentially.

Profit After Tax or PAT could grow 13.2%.

Important management insights to watch out for:

• Demand trends across markets, product segments
• Outlook on margins, pricing action

Rs. Million	September 2023 estimates	YoY change
Revenue	45,545	5.0%
EBITDA	7,928	11.4%
PAT	5,583	13.2%

Source: IIFL Research