Q1 FY23 Preview: Britannia Industries: Revenue seen at Rs36,871 million; PAT at Rs3,869 million

3 Aug 2022 , 12:44 PM

Result Date: 4th August, 2022
Recommendation: Add
Target Price: Rs3,600

Analysts at IIFL Capital Services forecast revenue of Rs36,871 million for Britannia in  the June quarter of FY23. This will be a y-o-y growth of 10%. EBITDA is forecasted at Rs5,622 million, up 1.5%. Profit After Tax (PAT) is forecasted at Rs3,869 million.  This will be a y-o-y decline of 0.7%. Overall consumption environment is  expected to have been weak. Increase in input costs is expected to have some adverse impact on the company’s margins.

Key management insights to look into:

• Trends in consumption, demand forecast
• Outlook on input cost inflation, pricing action and margins

Rs. Million	June 2022 estimate	Y-o-Y
Revenue	36,871	10.0%
EBITDA	5,622	1.5%
Profit After Tax	3,869	(0.7)%

Source: IIFL Research