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1225
|
dbpedia
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0
| 2 |
https://www.globaldata.com/company-profile/britannia-industries-ltd/
|
en
|
Britannia Industries Ltd Company Profile - Britannia Industries Ltd Overview
|
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Up-to-date Britannia Industries Ltd company overview including funding information, company profile, key statistics, peer comparison and more.
|
en
|
https://assets.globaldata.com/gdic/assets/img/icon/favicon.ico
|
https://www.globaldata.com/company-profile/britannia-industries-ltd/
|
Britannia Industries Ltd (BIL) is a manufacturer and marketer of bakery and dairy products. The company’s product portfolio includes bakery products such as biscuits, bread, croissant, cakes, wafers, and rusk, and dairy products comprising milk, butter, cheese, milk-related readymade beverages, and yoghurt. BIL offers its products under various brands, such as Good Day, Treat, 50-50, Tiger, Crackers, Bourbon, Milk Bikis, MarieGold, Winkin Cow, and NutriChoice. It sells and markets products through distributors, direct sales channels, vendors, and contract packers. The company supplies its products across Asia-Pacific, the Middle East, Europe, Africa and the Americas. It owns and operates manufacturing plants across India. BIL is headquartered in Bangalore, Karnataka, India.
|
|||||
1225
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dbpedia
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3
| 50 |
https://blog.shoonya.com/history-of-britannia-industries-limited/
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en
|
History of Britannia Industries Limited
|
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2024-02-02T10:37:47+00:00
|
Learn about the Britannia Industries history, India's oldest and most loved food company. Discover how it grew from a biscuit house to a global total foods giant.
|
en
|
Shoonya Blog
|
https://blog.shoonya.com/history-of-britannia-industries-limited/
|
If you are the ’80s or ’90s kid, do you remember those Britannia Bikis Classic, sugar-coated little hearts, and those fruit cakes that were a bit pricey, but our parents still got them for us as bait to not miss school?
However, not only this, but even Generation X (before the ’80s) has been cherishing the products of this food giant.
Today, we are going to talk about the bakery giant behind the most-loved cakes, cashew cookies, milk cookies, and more: Britannia Industries!
In this blog, we will explore the history of Britannia, from its humble beginnings in Kolkata to its current position as a global total foods company.
Britannia Industries History- Biscuits, Bread, and Beyond
Here is how the now most loved household biscuit and bakery brand has grown over the span of 120 years.
The Sweet Beginnings (1892-1900s)
This chapter takes you back to the early days when biscuits were just the beginning for Britannia.
A bunch of British folks in Kolkata decided to start something sweet – Britannia Industries.
They kicked off the whole venture with just Rs 295.
Can you imagine this?
That sounds more like starting your own biscuit empire that you wouldn’t be even aware of, with a mere pocket change, nowadays! Initially, they baked biscuits, cakes, and bread for the British officers and tea planters hanging out in India.
Wartime Heroes and Post-Independence Challenges (1910-1947)
From supplying service biscuits to the Indian Army during the Second World War to facing challenges post-independence, this era paints a picture of Britannia’s resilience and evolution.
As the years rolled on, in 1918, Britannia became a public limited company, flaunting the name Britannia Biscuit Company Limited.
Britannia achieved a milestone by becoming the first company east of the Suez Canal to utilize imported gas ovens. Their business was thriving, and, more importantly, Britannia was gaining a reputation for delivering quality and value.
Fast forward to the Second World War – Britannia wasn’t just about biscuits; they stepped up big time.
They supplied biscuits to the Indian Army and even set up a training centre for disabled soldiers.
That was like turning biscuits into a force for good!
In 1924, Britannia established a new factory in Mumbai. During the same year, the company became a subsidiary of Peek Frean & Company Limited UK, a prominent biscuit manufacturing company.
Post Independence Era
After India got its independence in 1947, things got tricky.
There were challenges left and right – partition, shortages of raw materials, and tough competition from other biscuit makers.
But did Britannia back down?
No way!
In 1954, facing challenges, Britannia set up fancy machines in Mumbai.
The same year, they started making good-quality sliced bread in Delhi.
By 1965, they opened a new bread bakery in Delhi.
In 1975, Britannia took over delivering biscuits from Parry’s.
In 1976, they started selling Britannia bread in Calcutta and Chennai.
In 1978, Britannia invited people to buy shares, and lots of Indians did – more than half!
In 1979, they changed their name from Britannia Biscuit Company Limited to Britannia Industries Limited, showing they were doing more than just biscuits.
The ’90s Shake-Up and Total Foods Vision (1990s-2000s)
As India’s economy opened up, Britannia faced new challenges and embraced transformation. This part of the story unfolds the ’90s shake-up, marking the journey towards becoming a total foods company.
The ’90s brought big changes when the Indian economy opened up.
More players entered the bakery market, and Britannia Industries had to step up its game too.
To make that happen, they shook things up – a new look, a new mindset, and a bunch of cool new products like Tiger, NutriChoice, Little Hearts, and 50-50.
And guess what?
They were ranked among India’s most trusted brands.
Growth, Innovation, and Beyond (2000s-Present)
In 2000, they hit a whopping Rs 1000 crore in turnover – that’s like rolling in biscuit dough!
Fast forward to the present day, Britannia’s story continues.– Britannia Industries is still baking up a storm.
They’ve added more goodies to their lineup – cakes, rusk, croissants, milkshakes, and even coconut water.
Britannia Industries: A Major FMCG Player
Britannia Industries is currently ranked fifth among the top FMCG companies based on market capitalisation, indicating its substantial presence in the market.
According to the latest information, Britannia boasts strong financial numbers.
Britannia Industries Overview
Market Presence
Ranked 5th among top FMCG companies.
Stock Information (As of 19th Jan 2024)
Share Price: ₹5150
Market Cap: ₹124,070 Cr
Financial Performance (Quarter ending 30th Sep 2023)
Revenue: ₹4,350 Cr
Legacy and Global Presence
Over 130 years of legacy.
Operations in 80+ countries worldwide.
Britannia Industries Introduction
Year of foundation: Britannia Industries was established in 1892 by a group of British businessmen in Kolkata.
CEO and MD: The current Executive Vice-Chairman and Managing Director of Britannia Industries is Varun Berry.
Britannia Industries Owner/ Chairman: Nusli Wadia
Current market cap: As of January 19th, 2024, the market capitalisation of Britannia Industries was ₹1,24,070 Cr.
Headquarters: The headquarters of Britannia Industries is located at 5/1A, Hungerford Street, Kolkata, West Bengal, India.
Parent company: Britannia Industries is part of the Wadia Group, led by Nusli Wadia, who serves as the Chairman of the company.
Products offered: Britannia Industries provides a variety of food products, including biscuits, breads, cakes, rusk, dairy products, beverages, and snacks. Some of its popular brands include Good Day, 50-50, Marie Gold, Tiger, NutriChoice, Milk Bikis, Bourbon, Little Hearts, Pure Magic, and Cheese.
Britannia Industries Limited: Charting a Responsible Future
They’re cooking up new ways to be eco-friendly and caring for folks.
So, what’s Britannia’s vision for the future?
To be a responsible global total foods company, serving up exciting goodness all day long with all these finger-licking products:
• Biscuits: Britannia is one of the leading biscuit manufacturers in India, with popular brands such as Good Day, 50-50, Marie Gold, Tiger, NutriChoice, Milk Bikis, Bourbon, Nice Time, and Little Hearts. Britannia biscuits are available in various categories, such as cookies, crackers, cream, health, and treats.
• Bread: Britannia breads include wheat bread, multigrain bread, fruit bread, sandwich bread, pav, bun, and kulcha. They are made from premium ingredients and are enriched with essential nutrients.
• Cakes: Britannia cakes include fruit cake, nut & raisin cake, chocolate cake, muffin, cupcake, and brownie.
• Rusk: Britannia rusk is a crispy and crunchy snack made from wheat flour, sugar, and butter and comes in different flavors such as elaichi, milk, and suji toast.
• Dairy: Britannia dairy products include cheese, butter, ghee, dahi, milk, and beverages and are made from fresh and pure milk, offering a range of benefits such as calcium, protein, and probiotics.
• Snacks: Britannia snacks are tasty and convenient, suitable for enjoyment anytime, anywhere. Britannia snacks include wafers, salted snacks, and nuts.
And that is the story of Britannia – from a little biscuit house in Kolkata to a snacking sensation loved by all.
Cheers to more biscuits, cakes, and goodness from Britannia!
FAQs| Britannia Industries History
Source- britannia.co.in
______________________________________________________________________________________
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1225
|
dbpedia
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3
| 11 |
https://newsroom.accenture.com/news/2021/britannia-collaborates-with-accenture-to-accelerate-its-digital-transformation
|
en
|
Digital Transformation: Accenture help Britannia modernize its business operations and unlock innovation
|
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Digital Transformation: Accenture help Britannia modernize its business operations and unlock innovation
|
https://newsroom.accenture.com/news/2021/britannia-collaborates-with-accenture-to-accelerate-its-digital-transformation
|
As Britannia’s partner on its digital journey, Accenture designed, developed and deployed a technology system based on SAP S/4HANA®. The new system has increased the visibility and accessibility of data across the organization and enabled deeper use of automation and analytics to guide business decisions.
The enterprise-wide program is focused on modernizing Britannia’s business model by digitizing essential services and processes, allowing the company to better respond to changing market trends. For Britannia’s large network of suppliers, this project will help streamline procurement and supply chain management, using SAP Ariba® solutions to expedite digital onboarding, contract management and procurement processes.
Accenture helps Britannia modernize its business operations and unlock innovation
|
|||||||
1225
|
dbpedia
|
0
| 13 |
https://www.tofler.in/blog/indian-company-basics/britannia-sucess-story-history-business-model-revenue-more/
|
en
|
Britannia Sucess Story – History, Business Model, Revenue & More
|
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[
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2023-05-28T00:00:00
|
en
|
Tofler
|
https://www.tofler.in/blog/indian-company-basics/britannia-sucess-story-history-business-model-revenue-more/
|
Britannia Industries, a renowned food company in India, boasts a rich legacy spanning a century. With annual revenues surpassing Rs. 9000 Cr, Britannia has established itself as a leader in the industry. Its diverse product portfolio includes Biscuits, Cakes, Bread, Rusk, as well as Dairy products like Cheese, Milk, Beverages, and Yoghurt.
Britannia holds a special place in the hearts of generations of Indians, cherished and loved not only in India but also worldwide. The brand has earned recognition and acclaim, consistently featuring among the most trusted, valuable, and popular brands in esteemed surveys conducted by prestigious organisations. Britannia’s enduring reputation is a testament to its commitment to quality and the loyalty it has garnered from consumers.
Buy Financial Report
Company Highlights – Britannia
About Britannia
Britannia Industries Limited is a prominent food company specialising in the production of a wide range of products. It operates primarily in the Foods segment, encompassing bakery and dairy products.
Britannia’s products have a global presence and are exported to countries worldwide, including the Gulf Cooperation Council Countries (GCC), African Countries, and American Countries. The company has subsidiaries like Manna Foods Private Limited and International Bakery Products Limited, which contribute to its operations and expansion.
History Throughout The Years Of Britannia
Business Model Of Britannia
Britannia Industries operates in two main segments: bakery products and dairy products. The majority of its revenue, approximately 95%, comes from the biscuits segment, while the remaining 5% is generated from non-biscuit products, primarily in the dairy category and international markets.
The company’s dairy business contributes around 5% of its total revenue and its dairy products are available in 100,000 outlets. Britannia Bread holds the top position in the organized bread market, with an annual turnover of over 100,000 tons in volume and a value of Rs. 450 crores. With 13 factories and 4 franchisees, the bread business delivers nearly 1 million loaves daily across more than 100 cities and towns in India.
Please note that the figures mentioned are approximate and intended to provide an understanding of Britannia Industries’ business operations.
Revenue And Growth Of Britannia
From 1998 to 2001, Britannia Industries witnessed a sales growth of 16% compounded annually, outperforming the market, while operating profits reached 18%. In recent times, the company has been experiencing a growth rate of 27% per year, surpassing the industry’s average growth rate of 20%. Biscuits contribute to 90% of Britannia’s annual revenue, which currently stands at Rs 22 billion.
Britannia holds a prominent position as one of India’s 100 Most Trusted brands, as listed in The Brand Trust Report. With an estimated market share of 38%, Britannia continues to enjoy a significant presence in the market.
Competitors Of Britannia
Britannia Products
Britannia Industries Limited generates a significant portion of its annual revenue from bakery products, primarily biscuits, which account for 95% of the company’s total revenue. The company’s manufacturing facilities have a combined annual capacity of 433,000 tonnes. Britannia offers a wide range of biscuit brands, including VitaMarieGold, Tiger Biscuits, Nutrichoice, Good day, 50-50, Treat, Pure Magic, Milk Bikis, Bourbon, Nice Time, and Little Hearts, among others.
In 2006, Tiger, a mass-market brand of Britannia, achieved sales of $150.75 million, including exports to the United States and Australia. This accounted for approximately 20% of Britannia’s total revenues for that year.
In addition to bakery products, Britannia also has a presence in the dairy segment, contributing around 5% to the company’s overall revenue. Apart from marketing dairy products to the public, Britannia is also involved in the business-to-business trading of dairy commodities. The company’s dairy portfolio experienced significant growth, reaching 47% in 2000-01 and an additional 30% in 2001-02.
FAQs
Is Britannia a FMCG company?
Yes, Britannia is a well-established FMCG company and a beloved brand in India.
Which country owns Britannia?
Britannia is an Indian company with its headquarters located in Kolkata.
How many products are in Britannia?
Britannia offers a diverse range of products, including Biscuits, Bread, Cakes, Rusk, and Dairy products such as Cheese, Beverages, Milk, and Yoghurt. Its brand portfolio includes Tiger, Marie Gold, Good Day, 50:50, Treat, NutriChoice, and Milk Bikis. The company has a global presence in over 60 countries.
When was Britannia established?
Britannia was founded on 16th April 1953.
How does Britannia generate revenue?
Britannia generates revenue through its operations in two key segments: bakery products and dairy products.
Who founded Britannia Biscuit Company?
The Britannia Biscuit Company was founded by C.H. Holmes, a British businessman, in 1918.
|
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1225
|
dbpedia
|
3
| 46 |
https://www.thehindubusinessline.com/stocks/britannia-industries-ltd/
|
en
|
Britannia Industries Ltd Share/Stock Price Live Today
|
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2014-12-18T03:34:42+00:00
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1. Strategic Analysis Sec- E, Group- 10 The Role of Strategy in Success: A Study of Britannia Industries Ltd. Group: 10, Sec: E :Member list: Suraj poddar (13202054) Sarthak Hota (13202040) Abhinav Tushant (1018002) Mohadev Mishra (13202024) Sumit Kumar Mula (1019029) JYOTI RANJAN MOHAPATRA (13202016)
2. Strategic Analysis Sec- E, Group- 10 Origin & Governance: In 1892, Britannia industries ltd. was started in Kolkata with an initial investment of Rs. 295. Britannia's business was flourishing with growing market. In 1978, Indian shareholding crossed 60%. 1983, it crossed the Rs. 100 crores revenue mark. In 1997, the company unveiled its new corporate identity - "Eat Healthy, Think Better" - and made its first foray into the dairy products market. The 50-50 Maska-Chaska became India's most successful product launch. In 2002, it formed a joint venture with Fonterra, the world's second largest Dairy Company. Having succeeded in garnering the trust of almost one-third of India's population and a strong management at the helm means Britannia will continue to dream big on its path of innovation and quality. Products & Services: It has wide range of ready to eat products. Britannia does its business on Bakery (Biscuit, Cake and Bread) and Dairy (Cheese, Butter and Milk) products. About 90% of Britannia’s annual revenue comes from biscuits and 10% from Dairy products. The brands in Britannia are VitaMarieGold, Tiger, Nutrichoice Junior, Good day, 50-50, Treat, Pure Magic, Milk Bikis, Good Day, Bourbon, Thin Arrowroot, Nice, Little Hearts, pure magic, flavoured Yoghurt, Dairy Whitener cookies and Actimind. Performance: Between 1998 and 2001, the company's sales grew at a compound annual rate of 16% against the market, and operating profits reached 18%. About 2007, the company has been growing at 27% a year, compared to the industry's growth rate of 20%. In FY 2013-14, a challenging economic environment and intensely competitive market, Profit from Operations increased 69.6%, from 314.45 crores to 533.24 crores with a revenue growth of 12%. Company focused on profitability, capital productivity and working capital management to generate cash flow from operating activities of 614.51 crores compared to 272.01 crores in the previous year. Earnings per share increased to 30.87 from ` 19.57 in the previous year. Opportunities: Indian consumer with constantly expanding wallet and higher aspiration constitutes the largest opportunity for your Company. Second opportunity lies in the constant force of technology change which will provides Company to compete and to improve efficiency & productivity e.g. Biomass and Solar energy. The opportunities before the company are to increase its share in the dairy industry, expansion in foreign lands, product line extension. Challenges: Entry of new players, rise in cost of raw materials and both domestic & international seeking a share of the growing industry and willing to invest for the long term is a key threat. Opportunities are equally visible competitors of your Company and that constitutes the primary threat. As opportunities in rest of the world diminish, India will become one of the main sources of growth for many international players and that will pose a threat to your Company. Outlook: Company estimates growth to be 8%-10% which is lower than growth rates of earlier years. While this presents a revenue challenge, Company expects to be challenged on the cost front on account of commodity prices and in some case even by regulatory environment in areas such as excise and depreciation. In this environment, your Company will focus on the fundamental building blocks of business viz. width / depth and quality of distribution, efficiency in operations, consistent and high product quality, aggressive support for its brands and nurturing a strong and cohesive team to achieve faster than market and profitable growth. In the longer-term your Company expects the growth to track back to 12%-15% level. 1
3. Strategic Analysis Sec- E, Group- 10 A company's strategic position can be clarified by the various dimensions of corporate strategy, looking at value, imitations and perimeter, so is with Britannia Industries. Value Britannia has acquired a reputation of quality and value. It has also succeeded in garnering the trust of almost one-third of one billion population. Imitation Britannia faces a tough competition with its competitors as new imitated products are available, price war is there, therefore, Britannia always try to build its quality and deliver value to the customers. Perimeter Britannia has always focussed on expansion of business as from Britannia biscuits to dairy products market. In 2002, Britannia's new business division formed a joint venture with Fonterra, the world's second largest dairy company, and Britannia New Zealand Foods. Pvt. Ltd. Was born. Britannia Industry Hierarchy of Strategic Intent Vision – “to dominate the food and beverage market in India with a distinctive range of tasty yet healthy Britannia brands". Every third person in India should be a Britannia consumer. Mission –“to dominate the food and beverage market in India through a profitable range of "tasty yet healthy products" by making every Indian a Britannia consumer. Britannia also has a mission vision mission goals objectives Plans Most integrative Most specific Fewestinnumber Greatestinnumber 2
4. Strategic Analysis Sec- E, Group- 10 of- development of production in partnership and with our customers to their specifications and Flexibility and capability to meet the small and large production runs. Goals - To improve profitability To increase efficiency To capture a bigger market share To provide better customer service To improve employee training To reduce carbon emissions Objectives- The short term objectives are: to improve image to shareholders Improve internal processed and controls. The long term objectives are: To be the lowest cost producer in the market. to become the largest national player in the Plans : Britannia is planning to invest ₹200 crore over next two-three years to expand its production capacity. The company wanted to diversify into other areas of foods from biscuits and cakes and become a total foods company. Apart from these strategies, Britannia industry also focuses on various strategies as: Marketing channels- Britannia has tactically managed its marketing channels to retain control on products as well as pricing. It adopted the indirect marketing channel and uses the two level distribution channel. The company also relies on the dependent channel arrangement to avoid any conflict with the intermediaries. Physical distribution cum Logistic strategies- Physical distribution starts at the factory. Managers at Britannia makes decision of warehouse and transportation carrier that will deliver the goods to final destination in the desired time at the lowest cost possible. Britannia has level 1 , level 2, level 3 distribution channel levels. Level1: Availability of Britannia biscuits at all the departmental stores across the country. 3
5. Strategic Analysis Sec- E, Group- 10 Level2: Since it's an FMCG products this channel exist for the customers spread across India. Level3: Mass consumption and suitable for both domestic and international coverage. Sales Force Strategy- The main objective of the sales force of Britannia is to generate higher sales which would translate to increase revenue for the company. The sales manager in different regions delivers the product of the company to the distributors in those region who in turn supply the products to the various retailers and grocery outlets. Promotional strategy- Britannia is well known in the market for its various promotional strategy as: In 1999"Eat Britannia, Go for World Cup" (Britannia khao, world cup jao) was the theme adopted by Britannia in which people bought the biscuit packs and searched for the lucky scratch for flying to England to see world Cup Cricket match. The sales bounced 37% high on account of this strategy. The scheme came alive again during the world Cup Match in 2002-2003 in South Africa. They again gain market attention with the launch of movie "Lagaan" in which they invited 40,000 Britannia biscuit buyers to come and play with the star cast. . The Britannia Industries also follows the corporate social responsibility as: Catering to the national interest Committed to be a good corporate citizen The company prohibits any payment of bribes 4
6. Strategic Analysis Sec- E, Group- 10 Internal and External Analysis of Britannia Industries Bakery industry in India today has an important place in the industrial map of the country. With rapid growth, improvement in standard of living, westernization, increase in spending power, changing eating habits of people and increased transition from the unorganized sector to organized sector, bakery products have gained immense popularity among masses. Industry Structure The bakery industry is mainly popular in the southern part of India like the states of Andhra Pradesh, Maharashtra, West Bengal, Karnataka, Tamil Nadu and Kerala. Around 60% of production takes place in the unorganized sector. There are around 2 million unorganized bakeries in the country, comprising small bakery units, cottage and household type manufacturing. The organized sector consists of large, medium and small-scale manufacturers producing bread and biscuits. The market size for the industry in India is expected to reach 47 billion by 2015 with a growth of 50 to 60 % per annum. Industry Segments Bread: About 50% of this segment is organized and is growing at a rapid rate of 14-15% per year. The estimated size of the organized bread industry is about 50 billion. Biscuit: The biscuit market in India is estimated to be $100 billion and the industry is also gearing up to aggressively tap the medium and premium segment within the country. Biscuit industry in India in the organized sector produces around 60% of the total production, the balance 40% being contributed by the unorganized bakeries. Mainly in rural India the biscuit consumed by consumer is from unorganised sector. PORTER'S FIVE FORCES MODEL: Competitor Rivalry: BIL has a market share of 38% and has been growing at 27%, compared to the industry growth rate of 20% Battle-scarred Britannia on expansion spree, Business Standard and has many competitors based on the nature of product. Parle and ITC (Sunfeast) pose a great competition to BIL. BIL earning major of its income from the biscuits, and Parle and ITC are the other major players in biscuit market. BIL is also into the production of dairy products, where the two major players in market are Amul and Nestle. Amul is the leader in the dairy industry. There is also a high level of competition from the unorganized baking sector. Overall rivalry is high. Threat of New Entrants: The entry on a small scale dairy industry and in the unorganized baking sector is easy. But on the other hand to enter the large scale dairy industry and organized baking sector a huge amount of investment is required in terms acquiring assets and to establish supply and distribution chains. 5
7. Strategic Analysis Sec- E, Group- 10 Government regulations pertaining to food norms and others may also seem to be unattractive. Looking at the latest trends, the bakery industry is expected to earn huge revenues which might attract new entrants. So the threat of new entrants is moderate. Threat of Substitutes: Savoury snacks, crisps, cereals, fruits and other fast food can be substituted for biscuits. Dairy products are dubious to be replacing with other products as they key ingredients of majority of people’s diet. So the threat is a very moderate threat of substitutes. Buyer’s Power: The buyer’s of these products could be a retailer or the consumer. Both the dairy and bakery industry are price sensitive, so a little increase in price might lead the consumer to shift other brand or product. So the buyer’s power is calculated to be very strong. Supplier’s Power: The major supplies for a bakery industry include wheat, sugar and other agriculture products. And the major supplies for dairy products are milk. It’s difficult to bargain with the suppliers of the above mentioned inputs as the price of these inputs is majorly influenced by the production of these inputs. The prices tend to be high as the demand for these products is rising at much faster rate than supply. The secondary supplies include the packaging material. The secondary supplies can be easily substituted with the low-cost ones to save on cost. Overall the supplier’s power is assessed to be moderate. Conclusion of Five Forces Analysis: There is an existence of major players in the market with a moderate level of threat of new entrants and substitutes. The supplier’s power is moderate but the buyer’s power is measured to be strong. So the rivalry is suggested to be high. PESTEL ANALYSIS Political: Exemption on Customs Duty on Sugar Raw Material Import: Due to the shortage in the production of sugar the deadline for the exemption on customs duty on raw sugar imports has been extended. Exemption on customs duty will help in purchasing sugar at lower cost, which in turn will control the cost of production. VAT on Biscuits: The VAT of 12.5% on Biscuits. Price of the biscuits might need to be increased due to the high VAT rates which may result in switch of brands due to the highly competitive market. 6
8. Strategic Analysis Sec- E, Group- 10 Removal of Import Duty on Dairy Products: The whole-sale price based inflation indicates that the milk prices have moved up by 14.73% over the last year. The imports at cheaper rate would help in reduce the cost factor for dairy products. Incentives to Build Cold Storage Facilities: Wastage of food items due to lack of cold storage facilities lead to a loss of Rs. 500 billion every year. The government announces schemes and incentives to attract investments in cold storage warehousing would help in preserving products better and reduce the wastage cost. Economical Shortage of Milk: Even though the milk production has risen by 4.6% compound annual average growth rate, it still cannot match up with the increasing demand. Price of milk increased by 12.6% to 13.6% . This can cause an increase in the input cost for the dairy products and which in turn can lead to hike in price or lower profit margins. Globalization: Globalization a universal phenomenon is affecting each and every industry. This can serve as an opportunity to expand the business to a global level but on the other hand there is a threat of new entrants from international market. Requirements for Logistics: Logistics in India suffer due to the poor infrastructure and other limitations. Sophisticated third party logistics system will help in proper supply chain management and on time delivery of goods, which help in maintaining the shelf life of goods on meeting the demand on time. Social: Need for Healthy Eating Habits: Studies say that Indians are more prone to Coronary Artery Disease (CAD), which is the major independent risk factor causing Cardiovascular diseases, due to the smaller calibred arteries found in Indians. This suggests that Indians should move towards more healthy food and diet. This could be a new area to explore for Britannia with its new health associated products like Nuti-Choice biscuits and Actimind flavoured milk. Problems with Cloned Livestock: Cloned animals are supposed to be suffering from large-offspring syndrome. The mother cows face a problem in giving birth to the cloned animals as they are larger than normal. Also these cloned animals suffer from health which might make unsafe to consume the produce from them. Technological: Cloning of Livestock: India, a late entrant in cloning research, is now moving with a great pace in cloning technology. ‘Hand guided cloning technique’, a technique very different from the conservative cloning practice has been a successful venture. New Age Packaging: The new packaging systems help in protecting food from micro-organisms by creating shelter layer. It uses new technologies like oxygen scavenging function, atmosphere control, biodegrability etc. and is low cost. 7
9. Strategic Analysis Sec- E, Group- 10 Environmental: Change in the Climatic Conditions: Climate plays an important role in the agriculture process. The change in the rainfall pattern has been a matter of concern now in India. The agriculture sector in areas which are monsoon dependent suffered badly due to the change in the rainfall pattern. The sector suffered a huge loss in terms of total output. The loss in crop will affect the input supply and this might delay or cause problems in the production. So the industry might not be able to meet the demands resulting in the loss of customers. Legal: Raising the Norms for the Probiotic Food: There is a need for setting the standards for probiotic food. Clinical tests should be conducted on the probiotic foods before they could reach the market for sale. The Indian Council of Medical and Research has submitted the proposal for the same to the government. Strict norms will help in raising the quality standards but on the other hand the cost and time of production might subsequently increase. Identifying key success factors WHAT DO CUSTOMERS WANT? (Analysis of demand) HOW DO FIRMS SURVIVE COMPETITION? (Analysis of competition) KEY SUCCESS FACTORS BISCUITS Low price, variety, quality, quantity, flavours, availability at convenient stores, discounts, offers, packaging, taste, healthy, wheat instead of refined flour, health conscious. Markets localized, extension of product line, managing supplier and distributors network for availability of products, launching promotional offers, R&D in tastes and flavours, introducing more dietary and healthy product range. Convenient locations, competitive price challenge, wide variety of offerings, new product launch, quality parameters. 8
10. Strategic Analysis Sec- E, Group- 10 Internal analysis of Britannia: MCKINSEY'S FRAMEWORK: THE HARD S's: Strategy: The direction and scope of the Britannia company over the long term. Structure: The basic organization of the Britannia company, its departments, reporting lines, areas of expertise and responsibility (and how they inter-relate). Systems: Formal and informal procedures that govern everyday activity, covering everything frommanagement information systems, through to the systems at the point of contact with thecustomer (retail systems, call center systems, online systems, etc) THE SOFT S's: Skills: The capabilities and competencies that exist within the Britannia company. What it does best. Shared values: The values and beliefs of the Britannia company. Ultimately they guide employees towards 'valued' behaviour. Staff: The Britannia company's people resources and how they are developed, trained and motivated. 9
11. Strategic Analysis Sec- E, Group- 10 Style: The leadership approach of top management and the Britannia company's overall operating approach. The Challenges and the Opportunities Britannia faced While the fast-moving consumer goods sector has not had it as bad as others, nevertheless has been challenging. Battling costs rising and hurt consumer demand, the company have been hard pressed to balance growth in sales and profit. The challenges faced by Britannia: Britannia one of the India’s largest biscuit brands held market share of 38% in terms of value. Indian biscuit industry, the third largest producer of the biscuit in the world was highly under- penetrated. This presented numerous growth opportunities to new as well as existing players. Apart from the presence of big players like ITC foods, Parle, the local manufacturers of biscuits and other Indian snacks had been raising concerns for Britannia. Besides competition Britannia faced critical challenges due to declining margins in the biscuit industry due to increase costs of raw materials. The biscuits-to-breads company Britannia finds itself staring at a new challenge, which is employee attrition. Several middle and senior level managers are choosing to exit and the company is struggling to find replacements. Actual attrition rate (YTD) is around 25% (which has a seasonal bias) and there is no change in the pattern from previous years. This is typically the time when post- appraisal, some people from all the companies leave and settle in various other ones. The attrition rate on annual basis is likely to be near long-term averages. The opportunities the company have: The company adopted a three-pronged approach to overcome the challenges it faced. It focused on driving innovation by producing new high-margin, value-added product offerings, and boosting revenue by introducing differentiated brands with differential pricing and restructuring costs through improving operational efficiencies throughout the value chain. The company leveraged its strong brands through steady investment, investing in building additional capacity in order to increase in-house manufacturing of premium brands and focusing on complexity reduction with rationalised stock keeping units (SKUs) and work processes that resulted in profitable growth. The company invested in further strengthening its reach in urban and rural markets. It restructured distribution models to gain depth of distribution in urban markets and width of distribution in rural markets. 10
12. Strategic Analysis Sec- E, Group- 10 SWOT Analysis of Britannia STRENGTH WEAKNESS OPPORTUNITIES THREATS Recommendations The manufacturer should understand the consumer behaviour to beat the competition. Britannia should adopt a Push strategy of marketing in order generate more sales and giving more margins to the retailers. The company should try to get associated with the Government initiatives as Mid-day meal, Sarva Shiksha Abhiyan, National Rural Health Missions Introduce new flavours in their product range. They can open dedicated Britannia stores as of Amul for more market share and differentiating from others in the industry. Extensive distribution network Providing a wide range of biscuits Innovative advertisement Widely accepted in all generations Easily available in various form Depends on stores and retailers Low penetration in rural area Not an extensive overseas market Increases the cost of food products Increasing demand for diet and sugar free biscuit Retaining loyal retailers and wholesalers Targeting interior area of India Generate employment opportunity Local bakery products limitation New entrants like Cadbury Oreo, Sunfeast Dark fantasy Margin war among the major brands Unable to utilise all the resources efficiently 11
13. Strategic Analysis Sec- E, Group- 10 Conclusion Britannia Industries limited is the India's largest manufacturing company covering all sectors of bakery products and diversifying into dairy products market. Developing and generating trust amongst its consumer base and delivering quality products had made it success for Britannia. As we see the strategic direction of the company, today there is a neck-to-neck competition between the competitors in the market. Not only the manufacturers but also the home made bakery products is also giving a tough competition to Britannia. Imitation of the product is very fast in the FMCG industry. And companies like ITC, Parle G, are giving direct competition in terms of new product development, market coverage, and gaining more market share. In this scenario Britannia should adopt a Push strategy of marketing and on the same time provide the retailers and distributors with more percentage of margin as compared to the competitors margin so that the retailers also try to sell the products in the market. Research and Development is also one of the major concern and should be taken over on a continuous basis as the customers taste and preference and buying behaviour is changing on a fast pace. Britannia should join hands with the Government initiatives and support the activities to gain a good image and presence in the mindset of every Indian consumer. Britannia will surely be able to fulfil its desired mission of making every third person the consumer of Britannia if it follows the path of innovation and diversification. 12
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Storyboard18 on LinkedIn: Britannia Industries reports 40 percent downfall in its consolidated profit
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2024-02-08T04:27:02.922000+00:00
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Britannia Industries Limited Industries reports 40 percent downfall in its consolidated profit
The consolidated profit, which stands at Rs 556 crore for the…
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https://static.licdn.com/aero-v1/sc/h/al2o9zrvru7aqj8e1x2rzsrca
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https://www.linkedin.com/posts/brandstoryboard_britannia-industries-reports-40-percent-downfall-activity-7161213817262063616-jh_8
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Quick look: #Britannia Industries Faces Tough Times in Business Britannia Industries Q4FY24 Update! Britannia Industries' #Q4FY24results fell below expectations but were in line with projections, with moderate revenue growth of 3% YoY. However, challenges persisted due to subdued demand in rural areas and intense competition impacting volume growth. Despite gross margin improvements, increased advertising expenses and other costs led to a decline in the #EBITDA margin. Favorable weather conditions could lead to higher demand for products, especially in rural regions, which could help to increase sales for Britannia Industries. Knowing how to manage non-core brands better could create new opportunities for diversification and increase company revenue. A normal monsoon season and enhanced performance in non-primary brands would help to improve the stock’s growth. Additionally, using better marketing strategies and managing costs efficiently can reduce the impact of competition and improve overall profitability. #stockmarket #stockstowatch #tradeinsights #marketupdate #thebusinesscorridor Read here: https://lnkd.in/gXAd8BT2
An average set of numbers from Britannia. Sales grew 8% YOY Margins improved to 17% from 14% last year Net profit grew 35% YOY This significant jump in margins and profitability of the company is on account of sharp reductions in the cost of raw materials. Prices of Palm Oil and Corrugated Boxes have declined by 21% and 25% from last year and this has helped in margins and PAT improvement for the company. Britannia has doubled its rural distribution in the last 5 years. But the interesting point is in the last two years the growth in distribution reach is just 10% which means incrementally the reach expansion is slowing down for them. Their newly focused segment Dairy, is performing well and posted high-double-digit growth in the quarter. They have also launched "Britannia The Laughing Cow” Cheese this quarter in this category. Overall an average performance, as in the absence of a healthy top-line growth you can only grow the bottom line up to a certain limit with the help of cost control and reduction in raw material prices.
ANALYSIS OF FMCG FOOD PROCESSING COMPANIES Q3 RESULTS PART 2 13. KOVILPATTI LAKSHMI ROLLER FLOUR MILLS LTD PART 1 Kovilpatti Lakshmi Roller Flour Mills reported sales of Rs 103.63 crore which was a fall of 1 percent over the December 22 sales of Rs 104.53 crore. Operating profits are Rs. 6.08 crore, up 3.75 percent with operating margins around 5.87 percent. Other income was Rs 0.34 crore (Rs 0.38 crore) and Interest expenses were Rs 2.32 crore (Rs 2.38 crore). Depreciation expenses were Rs 1.64 crore (Rs 1.61 crore). Tax provision was Rs 0.74 crore (Rs 0.69 crore). Net profit, at Rs 1.70 crore, rose 7.59 percent. Sales for the quarter ended September 23 were Rs 111.99 crore, operating profits Rs 7.67 crore, margins 6.85 percent, and net profits Rs 3.07 crore. Sales for the quarter ended June 23 were Rs 79.91 crore, operating profits Rs 5.63 crore, margins 7.05 percent, and net profits Rs 2.67 crore. Q3 HIGHLIGHTS Food division turnover Rs 82.83 crore (Q3 FY22 Rs 77.46 crore, up 6.93 percent) Operating profits Rs 4.05 crore (Q3 FY22 Rs 3.43 crore, up 18 percent) Engineering division turnover Rs 21.11 crore (Q3 FY22 Rs 27.45 crore, down 23.45 percent) Operating profits Rs 0.71 crore (Q3 FY22 Rs 1.22 crore, down 42 percent Under the Scheme of Amalgamation of Raya Foods Private Limited (“Transferor Company”) with Kovilpatti Lakshmi Roller Flour Mills Limited (“Transferee Company”) sanctioned by the National Company Law Tribunal, Chennai Bench vide order dated 5th January 2024 & 18th January 2024 coming into effect, the Board of Directors of the Company have allotted 35,00,000 equity shares of Rs. 10/- each in the Company to those shareholders whose names appeared on the Register of Members of Raya Foods Private Limited (Transferor Company) as on 1st February 2024, being the record date fixed by the Transferor Company for the said purpose. The Board of Directors has granted their approval to purchase a vacant land admeasuring to the extent of 1.29 acres (approx.) situated at Thiruvandarkoil, Pondicherry -605102 from unrelated third-party seller(s) for commercial purposes of the Company. Business Divisions:[1] a) Food division: The food division is engaged in the manufacturing of wheat flour and other related food products b) Engineering division: It is engaged in the manufacturing of casting components for automobiles, earthmovers, agricultural machinery, textile machinery, pumps, and general engineering industries Products & Brand: Company manufactures wheat flour and wheat products such as Maida, Sooji, Bran, and Whole Wheat Atta under the brand name of Kuthuvilakku, in South India. The company's customers include both commercial establishments and households. Its retail products are available from 500 gm to 5kg and wholesale products are available between 10 kg and 90 kg Key Clientele:[2] Britannia, Parle & ITC, Domino’s Pizza, McDonald’s, etc.
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https://www.britanniapackaging.com/why-britannia/
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Why choose us as your packaging supplier
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2013-11-11T11:19:53+00:00
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Our global production network, commitment to quality, and nearly 40 year track record sets us ahead of other garment packaging suppliers.
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Britannia
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https://www.britanniapackaging.com/why-britannia/
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High quality labels and packaging, delivered on time and at the right price. That’s what we offer at Britannia today. With a global network of production facilities, a commitment to quality and a track record established over nearly 40 years in the garment industry, we’re well-placed to deliver. That’s why we’re a packaging supplier and trusted partner for some of the world’s biggest garment retailers.
A lot can change over three decades, and the fashion industry has witnessed upheaval on a particularly large scale. Constant demand for the latest trends at relatively low prices means brands can no longer get away with manufacturing a predetermined number of items at the beginning of the season.
The traditional, production-driven supply chain has transitioned into a market-driven supply chain that is far more complex and demanding than the conventional model. Retailers must anticipate trends and respond to sudden shifts in the global marketplace while maintaining the quality of their products and working with drastically reduced lead times.
We’re equipped to help our customers meet these challenges. Britannia is a global packaging supplier with a local feel. We combine the reach of a worldwide organisation with the flexibility and attention to detail of an independent, family-run business. With production sites strategically located in eight countries, we’re always near the point of manufacture. Garment industry supply chains now span thousands of miles, but we remain close to our customers and respond to their changing requirements with speed and agility.
However, Britannia is not just a network of strategic locations. We’re a packaging supplier with a strong heritage and a focus on innovation. We’re proud of our track record in the design and production of garment labels and packaging, but we also know how important it is to keep evolving, just like our customers, to meet the changing needs of extended global supply chains.
That’s why we use the latest technology to ensure we operate transparently. Our customers are guaranteed full visibility regarding the production and delivery of every label.
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https://www.gurufocus.com/term/gross-margin/BRTQY
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BRTQY (Britannia Industries) Gross Margin %
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BRTQY (Britannia Industries) Gross Margin % as of today (August 10, 2024) is 41.76%. Gross Margin % explanation, calculation, historical data and more
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https://www.gurufocus.com/term/gross-margin/BRTQY
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https://www.statista.com/statistics/1006687/india-britannia-operating-profit-change/
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Britannia: annual growth rate of operating profit 2023
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In the fiscal year 2023, profit from operations of Britannia Industries Limited was about 16.3 percent.
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Statista
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https://www.statista.com/statistics/1006687/india-britannia-operating-profit-change/
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Supplementary notes
India's financial year begins in April and ends in March. For example, FY 2021 started in April 2020 and ended in March 2021.
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https://markets.businessinsider.com/stocks/britannia_industries_2-stock
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Britannia Industries Stock Price
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2024-08-01T15:01:00
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The latest Britannia Industries stock prices, stock quotes, news, and history to help you invest and trade smarter.
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markets.businessinsider.com
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https://markets.businessinsider.com/stocks/britannia_industries_2-stock
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Sales per share 696.06 676.70 586.86 545.45 482.36 459.69 412.60 P/E ratio (year end quote, basic EPS) 55.30 44.84 50.62 46.86 46.09 63.88 59.43 P/E ratio (year end quote, diluted EPS) 55.30 44.84 50.62 46.87 46.11 63.93 59.46 P/E ratio (year end quote) 55.30 44.84 50.62 46.86 46.09 63.88 59.43 Dividend yield in % 1.50 1.67 2.15 4.00 1.30 0.49 0.50 Equity ratio in % 43.43 37.78 34.03 44.29 56.13 68.13 64.96
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https://www.royalyachtbritannia.co.uk/history/historical-timeline/
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The History of The Royal Yacht Britannia
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Explore the rich history of the Clydebank-built former Royal Yacht of Her Majesty Queen Elizabeth II, The Royal Yacht Britannia in Edinburgh. Find out more.
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https://www.royalyachtbritannia.co.uk/history/historical-timeline/
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VICTORIA & ALBERT III
Britannia's predecessor was the Victoria & Albert III - the first Royal Yacht not to be powered by sail. It was built for Queen Victoria, but she never stepped on board, concerned about the yacht's stability. King Edward VII did sail on the Victoria & Albert, mainly in local waters and the Mediterranean. Having served four sovereigns over 38 years and not left Northern Europe since 1911, the Victoria & Albert was decommissioned in 1939. She was eventually broken up for scrap at Faslane in 1954
THE LAST ROYAL YACHT
It was decided that a new Royal Yacht should be commissioned that could travel the globe and double as a hospital ship in time of war. It was also hoped a convalescence cruise would help the King's ailing health. The John Brown & Co shipyard in Clydebank received the order from the Admiralty for a new ship on 4 February, 1952. Sadly King George VI passed away two days later. Not only did Queen Elizabeth II now have to prepare for her new role, but she also had responsibility for the commissioning of the new Royal Yacht.
BUILT IN SCOTLAND
John Brown & Co was one of the most famous shipyards in the world, having built the famous liners Queen Elizabeth and Queen Mary. The keel of the new, as yet unnamed, Royal Yacht was laid down in June 1952. One of the last fully-riveted ships to be built with a remarkably smooth painted hull, she was finally ready to be launched on 16 April, 1953. The ship's name was a closely guarded secret, only being revealed when Queen Elizabeth II smashed a bottle of Empire wine (Champagne was considered too extravagant in post-war Britain) and announced to the expectant crowds "I name this ship Britannia… I wish success to her and all who sail in her". You can read more about getting Britannia ready for Royal service by downloading Letters from a Fish to his Admiral (below), a series of notes and letters written by Acting Captain J S Dalglish, the Officer in charge of commissioning Britannia. John Brown continued as a shipyard until they sadly closed in 2001.
Letters from a Fish to his Admiral (pdf)
BRITANNIA COMMISSIONED
After the launch, Britannia's building work continued as her funnel and masts were installed, before beginning sea trials on 3 November 1953 off the West Coast of Scotland. On successful completion, she was commissioned into the Royal Navy on 11 January 1954. On 22 April, Britannia sailed into her first overseas port as she entered Grand Harbour, Malta. During 44 years in Royal service Britannia sailed the equivalent of once round the world for each year, calling at over 600 ports in 135 countries, including the United States of America, Australia, Canada and New Zealand.
THE FIRST DAY AT SEA
As well as hosting state functions, Britannia was an ambassador for British business, promoting trade and industry around the globe. These British overseas trade missions were known as ‘Sea Days’ and an invitation to come aboard proved irresistible to the world’s leading business and political figures. The Overseas Trade Board estimated that £3 billion was made for the Exchequer as a result of commercial days on Britannia between 1991 and 1995 alone.
CELEBRATING BRITANNIA'S 25 YEARS
19 October 2023 marks 25 wonderful years since Britannia opened to the public as a visitor attraction. During this time we have welcomed over 7 million visitors, a brilliant milestone to mark the occasion. We thank each and every visitor who has stepped aboard and look forward to welcoming many more to share our history.
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Explore Britannia Industries Ltd., a beloved Indian FMCG brand with a 130-year legacy. Read more in this blog.
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DISCLAIMER FOR REPORT
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ANALYST CERTIFICATION
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RISK DISCLOSURE ON DERIVATIVES
9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
On an average, loss makers registered net trading loss close to ₹ 50,000.
Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.
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All leveraged intraday positions will be squared off on the same day. There is no restriction on the withdrawal of the unutilised margin amount. Brokerage will not exceed the SEBI prescribed limit. Visit : https://www.bajajbroking.in/pricing
MTF
As subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in the lights and obligations statement issued by the TM (if applicable).
US INVESTING
International investment is not supervised by any regulatory body in India. Thus, any claim or dispute relating to such investment or enforcement of any agreement/contract /claim will not be under laws and regulations of the recognized stock exchanges and investor protection under Indian Securities Law. The account opening process will be carried out on Vested platform and Bajaj Financial Securities Limited will not have any role in it.
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IPO
This should not be construed as soliciting investment. Investors’ discretion is required. Kindly consult your financial expert before investing. No need to issue cheques by investors while subscribing to IPO. Investments in securities markets are subject to market risks, read all the related documents carefully before investing.
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IPO Financing is done through Bajaj Finance Limited. Bajaj Finance Limited (BFL or Lender) reserves the sole right to decide participation in any IPO and financing to the client shall be subject to credit assessment done by the lender. Also, BFL shall have full rights to decide the commercial terms for IPO and final application and financing shall be subject to all requirements being met by the client in a timely manner including documentation, account setup and payment of required Interest and Margin. Bajaj Finance Limited also reserves the exclusive rights to change any of the above-mentioned terms and conditions without prior notice to clients. The scheme margin is subject to change. UPI is mandatory to bid in all IPOs through our platform. As per exchange guidelines, all the UPI mandates will only be accepted till 5:00 PM on IPO closure day.
SCREENERS
Screeners is not Exchange-approved products and any disputes related to the same will not be dealt on the Exchange platform.
SECURITIES
Securities quoted are exemplary and not recommendatory.
IPV
Account would be open after all procedure relating to IPV and client due diligence is completed.
IMAGES
The images used are only for representation purpose. Proper due diligence has been done for the images and the image is not of any artist. The same is captured from royalty free sites.
DISCLOSURE TO CLIENTS REGARDING PAYOUT OF FUNDS
As per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023, Stockbrokers are required to upstream the entire client funds lying with them to the Clearing Corporation. Based on client’s request the funds’ release request must be placed with the Clearing Corporation. Based on the internal process and cut-off timelines of the Clearing Corporation the funds will be released to the Stock Broker. In view of this new process, as specified by the regulatory and the cut-off time of Clearing Corporation/Banks processing the funds, Bajaj Financial Securities Limited cannot commit the exact time for releasing funds payout to its client. Clients are requested to note that, Bajaj Financial Securities Limited will not be responsible for any inconvenience caused to clients due to delay in release of funds payout, including fines, delayed charges, defaults, etc.
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dbpedia
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1
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https://www.business-standard.com/companies/news/food-industry-impacted-by-high-commodity-prices-britannia-industries-123080300546_1.html
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en
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Food industry impacted by high commodity prices: Britannia Industries
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2023-08-03T16:55:27+05:30
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FMCG major Britannia Industries Limited said that the food sector in which it operates has been significantly impacted by high commodity prices, rising interest rates and due to the fall out of the Russia-Ukraine conflict.
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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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https://www.smallcase.com/blog/britannias-unwavering-resilience-navigating-challenges-and-evolving-with-innovation/
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en
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Britannia's Unwavering Resilience: Navigating Challenges and Evolving with Innovation
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2023-10-11T07:59:07+00:00
|
In the dynamic world of stock markets, Britannia has been a name synonymous with reliability for many investors. While it’s true that this FMCG giant might have experienced a slowdown in momentum over the last 1-1.5 years, there’s a more profound story to be told – one of adaptability, value addition, and the determination to […]
|
en
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/wp-favicon.ico?x84842
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smallcase
|
https://www.smallcase.com/blog/britannias-unwavering-resilience-navigating-challenges-and-evolving-with-innovation/
|
In the dynamic world of stock markets, Britannia has been a name synonymous with reliability for many investors. While it’s true that this FMCG giant might have experienced a slowdown in momentum over the last 1-1.5 years, there’s a more profound story to be told – one of adaptability, value addition, and the determination to face challenges head-on.
With a current PE ratio of 50, some may argue that Britannia appears overvalued when compared to its peers. However, the picture becomes clearer when you consider the broader economic landscape. Over the last three years, the company has maintained a steady sales growth rate of 12-14%, despite the hurdles of inflation and rising input costs, particularly in the dairy sector. Take orange juice, for example; its price has surged 2-2.5 times since the onset of COVID-19. Such escalations in the costs of edibles are not unique to Britannia but have affected the entire industry. The root of these challenges can be traced back to geopolitical events, particularly the Russia-Ukraine conflict, which significantly impacted global wheat supplies.
Britannia boasts a market capitalization of a staggering 1 lakh crore with a PE ratio of 50. While it might not provide substantial PE expansion potential, the company offers investors a dividend yield of 1.6%. With a current stock price of 4500 Rs, it’s not expected to plummet, making it a steady investment choice.
Now, let’s focus on the positive aspects. Britannia has consistently invested in value additions to its product portfolio over the years. The company’s foray into high-end products through product upgrades indicates its commitment to innovation and staying relevant in a competitive market.
Though the operating margin has dipped from around 20% to 17%, this range is still quite healthy in the FMCG sector. Britannia’s stock price might have cooled down temporarily, but when compared to its peers, it’s evident that there’s ample scope for growth.
In conclusion, Britannia’s journey is a testament to its ability to weather storms and adapt to evolving circumstances. The challenges it has faced have only fueled its determination to innovate and offer high-quality products. While the market may rate it at par, the company’s track record of resilience and adaptability sets it apart. Britannia remains a shining example of a steadfast performer in the ever-changing world of investments. Invest wisely, and you could enjoy the long-term rewards of being part of this storied journey.
Check out Basant Maheshwari‘s complete AMA session here
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https://us.ukessays.com/essays/marketing/problems-facing-britannia-industries-limited-marketing-essay.php
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Britannia Industries Problems
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2023-11-06T20:30:17+00:00
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Britannia begins with the business producing electricity. Britannia mechanized its operations, and in 1921, it became the first company in Asia using imported gas ovens. Britannia’s business was
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https://us.ukessays.com/essays/marketing/problems-facing-britannia-industries-limited-marketing-essay.php
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Britannia begins with the business producing electricity. Britannia mechanized its operations, and in 1921, it became the first company in Asia using imported gas ovens. Britannia’s business was growing. Britannia acquired a reputation for quality and value very fast. During the World War II, the Government rewarded Britannia by contracting it to supply “service biscuits” to Armed Forces. And therefore the company was incorporated in 1918 as Britannia Biscuits Co. Ltd. in Calcutta and in 1924, Peek Frean UK acquired a controlling stake in the company, which was later passed on to Associated Biscuits International UK (ABI). During the 1950s and 1960s, Britannia expanded its operations beyond Calcutta to Mumbai, Delhi and Chennai.
In the year 1978 company went for public issues and Indian shareholding crossed 60%, firmly establishing the Indian ness of the firm and formed Britannia Industries Limited (BIL). It crossed the Rs100 crores revenue mark in next four years (in 1983).
In 1987, Nabisco acquired ABI. Then in 1989, JM Pillai, a Singapore-based non-resident Indian (NRI) businessman, and Grouped Danone acquired Asian operations of Nabisco and the controlling stake in Britannia. Later, Danone and Nusli Wadia took over Mr. Pillai’s holdings.
Britannia has been jointly owned by Danone and Wadia Group since 1997. The two along with five other companies form a holding company called Associated Biscuits International Ltd., which owns a 51% share of Britannia. The remaining 49% share is held by the public and financial institutions.
On the operations front, In 1997, the company unveiled its new corporate identity – “Eat Healthy, Think Better” – and made its first foray into the dairy products market. In 1999, the “Britannia Khao, World Cup Jao” promotion further fortified the affinity consumers
Britannia emerged as one of India’s biggest brands in 21st century in the country. It is equally recognized for taking innovative approach to its products and unique marketing concepts: the Lagaan Match was voted India’s most successful promotional activity of the year 2001 while the delicious Britannia 50-50 Maska-Chaska became India’s most successful product launch. In 2002, Britannia’s New Business Division formed a joint venture with Fonterra, the world’s second largest Dairy Company, and Britannia New Zealand Foods Pvt. Ltd. was born. In recognition of its vision and accelerating graph, Forbes Global rated Britannia ‘One amongst the Top 200 Small Companies of the World’, and The Economic Times pegged Britannia India’s 2nd Most trusted brand.
Having succeeded in garnering the trust of almost one-third of India’s one billion populations and a strong management at the helm means Britannia will continue to dream big on its path of innovation and quality. And millions of consumers will savor the results, happily ever after.
Britannia puts a lot of emphasis on its primary biscuit brands including Tiger, Good Day, Marie, Milk Bikis, 50:50 and Treat. Biscuits make up more than 80% of the company’s production – bread, cakes and dairy constitute the remaining 20%. Its brands are considered to be an excellent value by India’s price-conscious consumers.
BIL is the first company to introduce the several varieties of biscuits in India, such as 50:50, glucose biscuits for children, chocolate biscuits, butter biscuits and became the household name of the country. In fact some of these brands are bigger than several multinationals in the food business in India. The Tiger brand biscuit, one of the most well-known, is extremely popular among rural consumers – with almost 50% of the brand’s value sales coming in from rural areas.
Market of Britannia
According to Euromonitor International, Britannia continues to have a strong presence in India’s bakery products industry. In 2001, the company had 18.9% market share for all bakery products; that number rose to 19.9% by 2004. As for the biscuit portion of the business, Britannia had 41.2% market share in 2001 and 43.6% in 2004 when Britannia was the national leader in biscuit sales. Currently Britannia Industries Ltd, accounts for about 38% in value and 32% in volume of the organized biscuits market in India.
Bakery product sales increased from 13.9 billion Rupees (US$295.6 million) in 2001 to 17.2 billion Rupees (US$368.1 million) in 2004, a 7.6% compound annual growth rate. Biscuits made up 82% of Britannia’s bakery products value sales in 2001 and rose to 85% in 2004.
Of Britannia’s total biscuit value sales, 82% are from sweet biscuits and 18% are from savory biscuits and crackers. In the company’s baked foods category, 87% consist of bread products, 13% are cakes.
The entire biscuit market is estimated to be around 1.1 million tones per annum, totaling to around Rs 50 billion. The biscuit segments enjoy the most developed markets for any item having mass consumption, It covers over 90% of the overall potential market. This means over 900 million Indians consumes biscuits, with varying frequency in a year. From the supply side the market is highly competitive, with many small scale manufactures and the organized large scale sectors.
[Source http://www.superbrandsindia.com/images/superbrands_book_2004/britannia/index.htm]
After the 1997 Britannia changed its strategies from product oriented to opportunity oriented. Earlier Britannia has narrow lined products mainly for kids but when the trends. Preferences and taste of common man changed Britannia also added number of varieties in its products and they in real sense used the opportunity in making the products, Britannia widen its product line which follows the STP.
They served the products for all the categories of people, now biscuit is not only meant for guest but also for the individuals by introducing tiger biscuits in small packs. Britannia holds about 46% of market share (Note1) by value in the fiercely competitive market. Targeting the key consumers and and changing the products with opportunity has worked for the Britannia and that’s why they are the leader in the biscuit range.
Note 1 – Source http://www.superbrandsindia.com/images/superbrands_book_2004/britannia/index.htm
Product Portfolio of Britannia
Britannia’s entire product offering derive their premium qualities from the principles of health and taste. This key premise has led to the evolution of a lifetime menu where Britannia product exists for every stage in a person’s life. The highest consumption group for biscuit are children; here Britannia offers milk bikis with all the ‘goodness of milk’ required by younger kids. While the tiger brand is aimed for 7-14 year olds and provides them with the exuberant health required by winners of tomorrow. Treat a range of delicious cream biscuit- is meant as a treat for children during fun times.
A particularly notable success has been little hearts, meant for teenagers and kids, which has completely dispelled an erstwhile industry axiom that this target group did not snack on sweet biscuit.
Moving on other age groups, Britannia created 50-50 as a biscuit snack for young adults. The savory time pass brand is targeted at the same age group as well, Britannia mariegold, is regared as a tea-time offering, packed with wheat energy with health conscious urban adults. Good day, a cookie filled with rich ingredients is a healthy everyday treat for entire family.
Britannia has a range of cakes and bread entrenched in the bakery segment. These products allow the consumers a better interactions with the brand and maintains continuity of the taste with health promise.
In 2004, the company was extremely active in rolling out new products. It introduced its Little Hearts brand, which are referred to as “melt in the mouth” biscuits. Little Hearts Orange (orange-flavored biscuits) and Classic retail for 10 Rupees. Britannia also added Blackcurrant Treat, Jam Treat, Good Day Gingernut and Good Day Choco-Nut to its growing biscuit line in 2004. For the bread and dairy markets, Britannia introduced NutriChoice vitamin-enriched bread and Milk Man low-fat cheese slices.
There were no new product launches in 2005, instead the company worked on strengthening existing brands. It released Premium Assorted Exotic Creme Biscuits, which feature varieties of some of the most popular biscuits – Pure Magic Chocolate, Pure Magic Vanilla, Pure Magic Strawberry & Vanilla and Jam Treat. The pack retails for 100 Rupees. The company also reformulated its 50:50 Maska Chaska biscuits.
Sourcing Strategy: Outsourcing Vs Manufacturing
With only four plants located in the country, it’s hard to imagine how Britannia Industries Ltd. became one of the largest food companies in India. But thanks to the company’s system of outsourcing a significant quantity of products, Britannia is able to offer more than 13 brands and more than 200 SKUs for its customers in India and around the world.
The company’s plants are located in India’s four major metropolitan cities – Kolkata in eastern India, Chennai in southern India and Delhi and Uttaranchal in northern India. Combined, these facilities employ more than 4,300 people and yet only make 30% of the company’s products. Sixty-one other contracted factories produce the remaining 70% of Britannia’s product line.
It’s a distributed manufacturing strategy in Britannia Industries Limited designed to optimize the delivered cost to the consumer. Outsourcing manufacturing is a model used by many other companies in India, both in the consumer packaged and durable goods segment in such companies Britannia Industries Limited and Hindustan Unilever limited are effectively using this strategy.
The 61 factories contracted to produce Britannia products do not produce any other products at their locations. Certain brands and product varieties are made at particular facilities. Even though the contracted facilities are not owned by Britannia, they are monitored by company representatives to ensure quality control.
For example in the northern region of India there are eight manufacturing units including Britannia Industries limited New Delhi, where Britannia has outsourced its manufacturing. And for the quality control there is a Quality Assurance Team guided by Quality Assurance Manager Mr. Dev Raj Dabas. A brief introduction of these eight is given below:
French Foods Faridabad
Gokul Foods Kanpur
RKM Foods Kandrori
BIL New Delhi
Delta Foods Biscuits Gaziabad
Delta Foods Cake Gaziabad
JB Managaram Gawalior
Super Snacks Gaziabad
Britannia generally launches products that offer the company good returns, supporting these through brand building and leveraging on its nationwide supply chain.
Sales and Distribution of Britannia
Britannia two different kinds of distribution networks one is for dairy products and other one is Bakery products. Here distribution network of bakery products has been discussed. In Bakery products Britannia applies two kind of distribution system. These are given below:
Mass Distribution
Selective Distribution
1. Mass Distribution
Britannia use to produce general FMCG products which are in form of packaged food and which need not to have very special kind of distribution strategy. Like other FMCG companies Britannia also use mass distribution system. Since all almost all the products of Britannia are of low price, repeat purchase items, and does not require much of effort from customer side. So ultimately these products are sold on mass distribution basis.
Mass Distribution Structure of Britannia for Bakery Products:
C&F
Distributor 1
Retailers
Consumers
Distributor 2
Distributor 3
Factory
There are four C&F of Britannia in NCR region:
Mudka – Bahadurgarh
Bakoli
Gaziabad
Kundali- Sonipat
49 distributors are working under these four C&F. The distribution network of Britannia’s products from top to bottom is given below:
First of all stock is sent to these C&F, and then this stock is sent to the various distribution canters of Britannia. All of these distribution centers do not contain products of any other brand. Now this supply of stock is based on full e-network. This system has been provided a particular terminology i.e. “UDAAN PACKAGE”. In this system the accountant who is in distribution center submits an online order to the C&F. Then in C&F the order for a particular distribution center is automatically generated and further fulfills by C&F.
Britannia has established these C&F at very appropriate locations. As soon as there is a demand generated in any distribution centre These C&F are able to fulfill the demand within four to six hours. So it is clear that C&F provides quick delivery to the distribution centre. But in order to meet this demand the C&F also has to keep some inventory with it.
Now if we talk according to the distribution point of view we will find that Distribution Centre has to also make some inventory in order to meet any kind of scarcity or instant demand. According to Mr. Randhir Kumar, (Territory Sales Incharge, Britannia Industries Limited), the distribution center has to maintain inventory of three days.
Now the distribution of stock from the distributor to retailer can be further explained by taking a distributor Keshav Enterprises. Keshav Enterprises is the distributor near Kishan Garh Vasant Kunj; handles 850-1000 outlets. The area which a distributor covers is also very large. E.g. Keshav Enterprises handles Munirka, R.K. Puram, South Moti Bagh, Vasant Kunj, Sataya Niketan, Mahipal Pur, Kapashera Border, Bijwasan, Nangal Dairy and Vasant Vihar. There are 49 such distributors of Britannia in Delhi.
Under this distributor five sales men work and they cover the entire area which is mentioned above.
Here the distribution is again divided into two parts i.e. distribution for
General Shops
Key Account Outlets (KAT)
1). General Shops
Distribution to general shops is done by two sales men. They cover 30 to 40 outlets every day. Now the number of these outlets is not content, it varies time by time as they are not very loyal to the company and also does not contribute to very prominent sale.
2). Key Account Outlets (KAT)
These outlets are covered by two sales men and they take order from these outlets biweekly. These sales men visit twenty to twenty five outlets every day. These outlets are very much loyal to the company and provide prominent business to the company. So from the sales point of view these outlets are very important.
Now the stock is moved from distributor to the retailers. For selling the stock on the retail outlets there are two processes:
Order Booking
Ready Stock
1). Order Booking
There are separate sales teams who perform this task. For example one sales team has to go for order booking. In this process the salesman first go to shop to shop and book the orders from there. On the other day or some times on the same day the delivery van goes every where in order to fulfill the orders. Now due to this method distributor not only gains the sales as well as looses the sale. Order booking process is done in Britannia on Biweekly or Weekly basis. Some times Order Booking and Ready Stock both the task are performed by the same sales man.
Benefits of Order Booking
In this process the distributor always remains in better position to forecast the demand. As the sales man has already an order list. This helps not only to the distributors but also to the C&F as well as finally to the factory in order to make more realistic demand.
Since the sales man does not have to do more but to book the order, it enables the sales man to search out the new opportunities in the market. It helps not only to the company but also to the sales man as sales man gets special rewards from the company side.
Since during this process the sales man gets extra time in which he/she gets enough time to interact with the retailer which is again very important.
Actually the retailer does not want only profit but also a better respect and courtesy from the salesman. So in such situations if the retailer is getting good time with the salesman, surely he will be more loyal to the company. Also during this period the sales man could increase the visibility of its products in the shelves of the shop keeper.
Drawbacks of Order Booking
Along with all these benefits there are some drawbacks also involved in this advance booking process. Some times sales man takes orders from the shopkeeper and assures him that the order will be fulfilled on next day. But during this period the sales man of other company comes and provides the same product at some discounts or with some schemes in this condition the shopkeeper takes the stock from that sales man.
2). Ready Stock
In this process the sales man carry the team along with him which contain a delivery van, a driver, and one or two helpers. The sales man takes order from the shops and also places the order at the spot. There are following benefits and drawbacks of this method. Almost thirty to forty outlets are visited by this way.
Benefits of Ready Stock
The retailer gets stock on the spot without any delay.
The sales man does not give a chance to the retailer to switch any other brand.
The defected stock is replaced on the spot.
Drawbacks of Ready Stock
The sales man does not get enough time; he simply dumps the stock and moves from one store to another store.
Even then he does not cover many retailers, as the delivery process takes a lot of time.
What amount of stock should be carried by the sales man is also can not be predicted.
The sales man moves to pre decided path and could not find new shops, so the market penetration by the sales man is also very rare in this case.
2. Selective Distribution
Selective distribution is done for premium products of Britannia. There are eight SKUs, for which Britannia uses selective distribution. These brands are:
Chochlor Intoxication
Almond Addiction
Chocolus Addiction
These products are very costly and lie between the prices ranges of Rs. 150 to Rs. 200. Now these products are not supplied by the distribution centre but directly from C&F. These distributions are done through the Merchandiser Team. Merchandiser Team is elaborated in further pages.
Merchandiser takes order from these exclusive shops and transfers this order to the C&F. Now C&F sends the stock and the billing is done by the respective distribution centre.
Selective Distribution Structure of Britannia for Bakery Products
Exclusive Retail Outlet
Exclusive Retail Outlet
Exclusive Retail Outlet
Exclusive Retail Outlet
C&F
C&F
Factory
The Challenges
To compete effectively, Britannia found that it was essential to get sales people out in front of customers – yet this isolated them from their ordering systems. Managers wanted to enable remote working to allow more time to be spent with customers, while providing easier access to ordering and production management tools.
The Solution
Use of ERP based solution in Supply Chain
It is recommended that Britannia implement “mySAP” ERP applications for the high performance and highly scalable IBM technologies. The mySAP ERP software enables full access to company’s inventory, production planning, sales order systems accessed through a simple Web browser and SAP client.
The Benefits: Britannia can expect to achieve around 30 per cent lower database administration costs, with better technical performance leading to increased productivity . Sales team can complete orders quickly without waiting to return to the office; Britannia can provide information on pricing of the existing product and stock-availability in real time; lower software license fees for remote systems and reduced administrative and maintenance workload means a significant reduction in TCO.
The ERP functions from the perspective of supply chain optimization are shown in following flowchart.
Overall process optimization
Expense optimization
Revenue and Profit optimization
Logistics optimization
Knowledge optimization
ERP optimization at various stages of supply chain
The business value of the ERP system includes:
Streamlined supply chain and accurate information.
Reduced supply chain costs.
Increased sales through accurate product availability.
The following figure highlights IT components in ERP, IT infrastructure and resources in SCM. The SCM planning is the input for ERP.
Operating system
Data warehouse
Retail Link
Data, account, analysis
Forecast
Inventory plan
ERP
SCM Manufacturing planning
Feedback
S
E
R
V
E
R
S
Intelligent Systems
Internet
ERP, IT Infrastructure and resources in SCM
Key Solution Components
Industry: Foods
Applications: mySAPâ„¢ ERP ECC 6.0
Hardware: IBM System p5™ 570, p5-520, IBM System Storage® DS4300™, IBM TotalStorage® 3580 tape drives
Software: IBM AIX® 5.3, IBM DB2®
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https://www.entrepreneur.com/en-in/news-and-trends/century-old-britannia-industries-baked-its-last-batch-of/476170
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Century Old Britannia Industries Baked its Last Batch of Biscuits in Taratala
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2024-06-26T12:15:00+00:00
|
Britannia Industries has foreclosed its factory in Taratala, West Bengal after 100 years of manufacturing last Monday.
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en
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Entrepreneur
|
https://www.entrepreneur.com/en-in/news-and-trends/century-old-britannia-industries-baked-its-last-batch-of/476170
|
Britannia Industries, a renowned FMCG powerhouse, has shuttered its century-old factory in Taratala, West Bengal. This move aligns with the company's strategy to phase out older, less efficient factories in urban areas and replace them with state-of-the-art facilities designed for higher production capacities.
The future of the Taratala site remains uncertain. However, Britannia holds a lease on the property until 2048, offering potential for future developments. This lease was renewed in 2018 for a 30-year term, according to the Times of India.
In a report by The Statesman, it was revealed that Britannia has compensated its permanent employees with payouts ranging from INR 13 to 22 lakh, based on their length of service. The Taratala factory employed about 120 permanent staff and 250 contractual workers, though the latter group received no compensation.
Historically, Tata Motors, too exited from Bengal, following a massive protest by then-opposition leader Mamata Banerjee and as a result Nano car factory was shut there. It is now under her tenure as chief minister that another giant is likely to close its factory.
Taking to social media platform, X, Kanchan Gupta, who served as an advisor at the Ministry of Information and Broadcasting in the Modi 2.0, shared a detailed post titled: 'From Tata Motors to Britannia: A bit of Bengaliness, if not Bengal, dies', listing a host of products that had come to be identified with Bengal such as Kanta scent, Jabakusum hair oil, Afghan Snow face cream, Tuhina body lotion, Darjeeling tea, Bengal Potteries dinner set, Philips radiogram, Boroline, Cuticura talcum, and Britannia Thin Arrowroot biscuits.
"Most of these products have disappeared; some have been rebranded; and some have survived with a bit of spit and polish. Britannia Thin Arrowroot was among the survivors till about a week ago," he said on X.
Britannia Industries stands as one of India's top food companies, with West Bengal being its third-largest market, contributing over INR 900 crore in revenue annually. Apart from West Bengal, Britannia operates three additional biscuit manufacturing plants in the eastern states of Bihar, Odisha and Assam.
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https://pdnetworks.wordpress.com/2011/05/06/was-there-a-cool-britannia-campaign/
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Was There a Cool Britannia Campaign?
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2011-05-06T00:00:00
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It's becoming conventional wisdom within Public Diplomacy Studies that after coming to power in 1997 Tony Blair's new Labour government launched an effort to rebrand the UK as Cool Britannia and that this campaign was a disastrous failure - Laura McGinnis labels it as the Waterworld of nation branding. Over the past few months I've…
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en
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https://s1.wp.com/i/favicon.ico
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Public Diplomacy, Networks and Influence
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https://pdnetworks.wordpress.com/2011/05/06/was-there-a-cool-britannia-campaign/
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It’s becoming conventional wisdom within Public Diplomacy Studies that after coming to power in 1997 Tony Blair’s new Labour government launched an effort to rebrand the UK as Cool Britannia and that this campaign was a disastrous failure – Laura McGinnis labels it as the Waterworld of nation branding.
Over the past few months I’ve become increasingly sceptical about this idea. I’ve been looking at writings that make this claim and looking for references to primary source materials – I’m not seeing them. So in part this post is a challenge. If there was a campaign who ran it? Where did the budget come from? What were its objectives – do we have any campaign planning documents? Any information on visual identity? I haven’t come across any of this material and in it’s absence I find it difficult to believe there was a systematic campaign.
If there was no campaign why do we think that there was one?
I think that the story of Cool Britannia come from the retrospective conflation of two developments. Firstly, Cool Britannia as a media narrative particularly associated with the writings of Stryker McGuire of Newsweek in 1996-97. This played into the narrative of modernity promoted by the Blair government who exploited (it I think for domestic purposes) through stunts like inviting Britpop bad boys Oasis to 10 Downing Street and appointing the head of their record label as a government advisor. Predictably this attempt to align the government with rock and roll and modern art created a backlash both from sceptics and from the efforts of artists to avoid cooptation.
The second development was the growing interest in nation branding and the possibility of using a nation branding effort to re-shape the image of the UK. The Design Council – the quasi governmental body that supports the design industry in the UK had commissioned a study New Brand for a New Britain. The involvement of the Design Council indicated the growing interest in creative industries in the UK – the recognition that activities like design, advertising, media, marketing, the arts are actually big chunks of the UK economy. The Design Council report was published as Blair came into power and in turn led to the commissioning of more research from Demos the prototypical new Labour think tank. This was Mark Leonard’s BritainTM: Renewing Our Identity which attracted quite a lot of interest. Leonard left Demos to lead a new think tank the Foreign Policy Centre – again tightly aligned to the Labour Party and which produced a paper by Wally Olins on branding, Trading Identities in 1999 and a series of reports on Public Diplomacy starting in 2000.
Ok – so there was media discourse about Cool Britannia that drew in bits of the government, there was a growing interest in (and controversy around) nation branding but what about the UK PD machinery?
The governmental response to this interest was the creation in 1997 of an FCO advisory group Panel 2000 (with Mark Leonard as member) with the brief
to produce a strategy to improve the way Britain is seen overseas;
to look at the methods and tools available to do this;
to make sure that the public and private sectors are working together to do this; and
to modernise the way the FCO communicates with the public
Apart from Leonard the membership of the panel was drawn in part from the private sector but also included the new Labour communications guru Peter Mandelson. Panel 2000 begat the Britain Abroad Task Force which began it’s work at the beginning of 2001 and was intended to develop better coordination between the various bits of government concerned with the projection of Britain. Around this time the British Council was conducting research on the perception of Britain under the label Through Others Eyes. I get the impression that all of this work was proceeding without any urgency – certainly it wasn’t running a campaign.
September 11 changed the game. In quick succession we get the Wilton and Carter reviews of Public Diplomacy which are conducted rapidly by much smaller groups and which produced reorganizations and the UK PD discourse swings from general concerns with image to towards more political matters. Interestingly if you look at more recent PD UK documents where there are general discussions of the UK image the themes are not a million miles from those identified in Leonard’s 1997 report.
The myth of the Cool Britannia campaign comes from the government buying into a media narrative which predictably blew up in its face (eg Jarvis Cocker of the band Pulp commenting that Labour were worse than the Tories) . In parallel the policy community was exploring ideas of nation branding. What connected these developments was new Labour’s interest in questions of image and creative industries but there was no systematic rebranding campaign. If anyone knows better please let me know.
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https://www.business-standard.com/article/companies/tough-road-ahead-for-vinita-bali-113052801063_1.html
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Tough road ahead for Vinita Bali
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2013-05-29T00:49:00+05:30
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Britannia's foreign presence low; share of global operations to total revenues just 5-8%
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en
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https://www.business-standard.com/favicon.ico
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https://www.business-standard.com/article/companies/tough-road-ahead-for-vinita-bali-113052801063_1.html
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https://m.economictimes.com/industry/cons-products/fmcg/pandemic-brought-significant-shifts-in-consumer-preferences-says-britannia-industries/articleshow/86002872.cms
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en
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Pandemic brought significant shifts in consumer preferences, says Britannia Industries
|
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[
"Britannia Industries",
"Pandemic",
"consumer preferences",
"FMCG Major",
"Branding"
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2021-09-07T13:56:00+05:30
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The company is well placed to sustain growth and is confident of addressing the evolving situation with its wide distribution network, intrinsic brand strengths, innovation and technology capabilities and cost efficiency programmes, it said in its latest annual report.
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en
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https://economictimes.indiatimes.com/icons/etfavicon.ico
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The Economic Times
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https://m.economictimes.com/industry/cons-products/fmcg/pandemic-brought-significant-shifts-in-consumer-preferences-says-britannia-industries/articleshow/86002872.cms
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Synopsis
The company is well placed to sustain growth and is confident of addressing the evolving situation with its wide distribution network, intrinsic brand strengths, innovation and technology capabilities and cost efficiency programmes, it said in its latest annual report.
The pandemic has brought significant shifts in consumer preferences and behaviours, including the growth of online business channels, which are likely to strengthen and present new opportunities for food business in future, according to Britannia Industries. The company is well placed to sustain growth and is confident of addressing the evolving situation with its wide distribution network, intrinsic brand strengths, innovation and technology capabilities and cost efficiency programmes, it said in its latest annual report.
"Significant shifts in consumer preferences and behaviours, growth of online business channels and higher demand for staples and value products are some of the changes brought about by the pandemic. These trends are likely to strengthen and present new opportunities for the food business in future," the company said.
According to Britannia, it foresees opportunities to scale up its dairy business by leveraging product innovation and accelerating the growth of value-added products into the segment.
The company is going for expansion of distribution for the dairy portfolio, growth of e-commerce & digital subscription platforms and culinary experimentation at home with categories like cheese due to the lockdown.
In the segment, Britannia sees quality milk procurement and infrastructure improvement, including cold chain, as the primary growth challenges.
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"To address these challenges, your company has been continuously investing in farmer connect programmes, scaling up milk procurement capabilities, ensuring consistency in quality of raw material and strengthening cold chain distribution," it said.
While talking about the biscuit segment, Britannia said India continues to provide significant opportunities for growth as the per capita consumption is much lower than that of developed countries.
"High levels of household penetration (above 90 per cent) augurs well for an increase in consumption. There is potential to spur consumption growth through innovative, healthy and premium products," the annual report said.
In the cake segment, Britannia said its immediate strategic priorities are to strengthen and scale up innovation, renovate and make the base cake segment more premium and in new-to-market formats with affordable prices.
"There are opportunities for growth through the launch of innovative products at different price points and expansion in rural markets," said Britannia Industries.
In rusk, Britannia's strategy is to grow by investing in technology, renovate existing portfolio and expand the category with new varieties at affordable price points.
"These measures are intended to attain segment leadership by understanding consumer preferences and meeting their expectations," it said.
While talking about bread, Britannia said it has continued to grow and strengthen its leadership in the Health Segment with superior and differentiated products like 'atta' pizza, multigrain and cheese garlic bread, etc.
The category is evolving rapidly due to entry of new players and market consolidation, it added.
"With the entry of significant competitors and signs of consolidation in this space, your company has renewed its focus on further diversification of portfolio, strengthening manufacturing capability, expansion into new markets and e-commerce as well as Brand building through launch of refreshed packaging and relevant products," it said.
In the international business, Britannia's strategy is to achieve growth and market share by increasing presence among the Indian diaspora, develop new products to recruit local ethnic clusters and establish local operations in fast growing emerging markets like contract manufacturing, acquisitions, joint ventures etc.
"The Export markets in Americas, Asia and Africa that were developed in previous years shows promising growth potential and the company is focused on mainstream channel expansion and opening more white space markets, in these geographies," it said.
For the financial year ended March 31, 2021, Britannia Industries' consolidated sales were at Rs 12,883.04 crore, up 12.6 per cent as against Rs 11,443.99 crore in the previous year.
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https://insights.greyb.com/britannia-industries-patents/
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Britannia Industries Patents – Key Insights and Stats
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2022-12-17T03:38:34+00:00
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Britannia Industries has 43 patents globally, out of which 27 have been granted. Of these 43 patents, more than 67% patents are active.
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Insights;Gate
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https://insights.greyb.com/britannia-industries-patents/
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March 28, 2024
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https://forum.valuepickr.com/t/britannia-buy-commodities-sell-brands/9563
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en
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Britannia (Buy Commodities, Sell Brands)
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2017-03-19T07:23:41+00:00
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Gave a presentation on Britannia at VP Chintan Baithak Goa July 2016.
Britannia Business Insights v1.pdf (154.5 KB)
Long Term Visibility Template 3.0 - Britannia v2.pdf (440.5 KB)
Sorry for the delay in uploading this…
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en
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ValuePickr Forum
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https://forum.valuepickr.com/t/britannia-buy-commodities-sell-brands/9563
|
Gave a presentation on Britannia at VP Chintan Baithak Goa July 2016.
Britannia Business Insights v1.pdf (154.5 KB)
Long Term Visibility Template 3.0 - Britannia v2.pdf (440.5 KB)
Sorry for the delay in uploading this. Thought this is a very well known business. Why to waste space here. Somehow was missing a point that without a thread, we won’t be able to discuss incremental business developments (as and when it happens). So here goes few insights on “Ting ting ti-ting”…
Business (Product/Revenue Segments)
Biscuits - Constitute 75-80% of top-line in FY 16.
Good Day, Crackers, Nutrichoice, Marie Gold, Tiger, Milk Bikis, Jim Jam + Treat, Bourbon, Little Hearts, Pure Magic, Nice Time.
Dairy - constitute 5% of top-line in FY16 (opportunity !!!).
Cheese (slices, cubes, block, spreadz), Dairy Fresh (dahi, flavored yoghurt, milk), Accompaniments (butter, ghee, dairy whitener)
Others - constitute 15-20% of top-line in FY16.
Breads (whole wheat, white, assortment), Rusk (premium bake) and Cakes (bar, veg, chunk, nut & raisin, muffills)
Opportunity (Pointers to Addressable Market Sizing)
Biscuits: India Biscuits market size is INR 26,000 cr. Expected to grow at 14% CAGR for next few years. Has grown at 10-14% per annum in the last five years. Britannia has regain market leader position (~28%) and continue to gain share; wafer thin 100 basis point lead over Parle currently.
Dairy: Indian organized dairy industry market size is INR 85,000 cr (~20% of total market size). Has been growing 22% annually for the last five years. Expected to do better over the next three years. Huge opportunity in the unorganized sector to penetrate.
Britannia is looking to start fully integrated supply chain for dairy (i.e. from sourcing milk to processing, selling and marketing) in a phased approach.
Phase I: Innovation in cheese, milk powder, condensed milk, whey powder. In addition to ~300 cr products
consumed in the bakery business currently.
Phase II: Deserts, drinks, whole lot of other stuff.
Cakes & Rusks: Nascent market currently. Has good potential. Britannia has a first mover advantage. Only Parle is the other organized player.
F&B: The Indian FMCG market size is INR 2,00,000 cr; fourth largest sector in India. Food & Beverages (F&B) constitute over 50% of total market size. Britannia has not-so-hidden desire to be a total foods company.
Longevity (Questions to think about for next 5-10 years ???)
Biscuits: India has per capita consumption of around 2 kg. As against North America and Japan consumption of around 7.5-10.0 kg. Huge runway ahead.
Dairy: A small pie of 85K cr and growing 20% per annum organized dairy industry can put Britannia on different plane. It has brand and platform. Just need to plan, invest and execute.
International Sales: Untapped opportunity. Currently contributes 6% of revenue. Targeting 20% by 2021.
Would success in Biscuits/Cookies continue into adjacent categories/new ventures?
Would Britannia be market leader in organized dairy industry in next 5-10 years?
Would Britannia enjoy Varun Berry’s service for next 5 years (longer the better)?
Can Britannia become an international brand in next 5-10 years (is it working on it)?
Unique DNA
Strong brand equity: A more-than-a-century old Britannia brand. One of India’s biggest brands. Stands for quality, trust, taste and innovation. New entrants would have to make sizable investments towards customer acquisition, promotion and branding to challenge Britannia. Britannia can relatively spend lesser towards advertising and promotion activity, resulting in better profitability.
Premiumization strategy: A clear focus on much bigger play at premium end i.e. objective to be leader in premium Cookies segment that is on rise currently. Objective is not to become market leader in the mass/value Glucose segment that has seen deceleration. This long term strategy is providing good tail wind currently as consumer perception is changing. Biscuits no more considered just mass consumption products. Consumers see it as premium products, primarily driven by increasing indulgence, health concerns and familiarity with luxurious taste.
Pulse of Indian consumer: Indian consumer today is looking more-for-less i.e. better products while remaining value conscious. Timely introduction of new innovative products and constant refresh of the existing products shows that Britannia understands the pulse of Indian consumer. Focused in balancing cost, quality and aspiration; consumer affordability at every price point.
New mega factories: Setting a lot efficient new mega factories to change outsourced v/s in-house ratio. More in-house means more scope for R&D and less heads that the profit has to be shared with. Can invest in new product lines to support innovation without having to face new investment reluctance by outsourced manufacturer.
Business Characteristics
Buy commodities and sell brands. Top notch business quality.
Brand creates scale, and scale produces cost advantages. This indirectly is helping Britannia increase the distance with competition.
Varun Berry (jockey), MD Britannia has re-energized the company and is making a huge difference. Ex-PepsiCo. His experience, commitment and attitude has converted delicious brand into healthy financials.
Debt free, Working Capital minimal or negative, Capital Turns >3x, Operating Margin consistent improvement, super RoE/RoCE, decent Sales growth and above average PAT/EPS tells us that it is super special business.
High promoter holding of 50.74% (considering it is more-than-a-century old brand) indirectly indicates conviction and sincerity of the promoters.
80+ manufacturing units, 2.8cr packs made per day, 51 depots, 3700 stockists, 900 trucks per day, over 36 lakh outlets selling Britannia, ~8 lakh ton per annum production (and growing).
Risks
Negative observation by India’s Food safety administration and/or CSE (Centre for Science and Environment) could hurt business/product sentiments
Competitive pressures from large well established MNCs, particularly Mondelēz (Oreo) that has premium offerings and strong global R&D."
Main Growth planks for next 2-3 years/Visibility
Consumption Growth: OROP, 7th pay commission hikes and falling inflation levels are likely to positively review consumption and thereby consumer demand (top-line growth). This is in addition to usual Indian factors like increasing income, rising urbanization, nuclearisation, as well as growing work force.
Distribution expansion: Britannia has been narrowing distribution gap with closest competitor and plans to do even further. Reached 3.6million outlets and market is almost 6.7million outlets. Still a lot of room to cover that could bring growth in near-mid term.
Premiumization / Product Innovation: Premiumization trend has just started and expected to continue at a healthy pace driving growth for next 2-3 years.
Cost effectiveness: Value creation strategy of Britannia for cost effectiveness would further drive the bottom-line growth; achieved through scale in operations, technology interventions, complexity and wastage reduction in the value chain along with efficient management of working capital.
International business: Very small currently. Contributes 6% of overall revenues. Distributes products in ~75 countries. Hopes to increase international business revenues by improving manufacturing capacities, boosting exports. Also open to making acquisitions or entering into JVs. Looking to set up a facility in Gujarat to boost international sales to 1/5th of overall revenues by 2021.
900 cr investment planned (70% in greenfield projects).
Dairy expansion (once finalized - 300 cr) could be a strong growth driver ahead.
Main Objections/ Handling
Gross margin sensitive to commodity pricing: True to an extent. Price/volume has to be changed when required. Ability to pass plus/minus to consumer with/without lag. Overall, gross margin has been on rise by continuously improving on productivity and efficiently agenda. Has been working on taking costs out of the systems and making supply chain very-very efficient. A lot has been achieved and still a lot of room to cover.
Patanjali threat: While most of Patanjali’s progress is not into biscuit category, it is in other categories which do not impact Britannia, but Britannia will have to keep an eye out and keep checking how they are doing and what kind of progress they are making in the market and be prepared for a formulation update if required.
Stagnation in category growth if any: Constantly exploring new investment in adjacent business such as breakfast, snacks and chocolates. Nibble into macro snacks market with bridge products that build on the strength of biscuits e.g. Pure Magic Deuce - a biscuit that features a slab of chocolate on it. This is in addition to bigger play in dairy which has huge opportunity size.
Inter-corporate deposits: Hopefully 900cr new investment plan will keep this in control.
Disclosure: Invested. No transactions in last 30 days.
Great insights @ankushr @lustkills! Taking everything into consideration, what do you guys think would the revenue run rate and pat growth rates going forward (next 5 years) be?
In long run, most of the good investors assign not more than 20 p/e multiples. Ankur has calculated base case of 25, which i think is reasonable in FMCG sector. So, at 25 p/e in 5 years, assuming 10-12% revenue growth (on this higher base), and 18-20% margins (competition kicking in), we are just earning 11% IRR.
So, i completely agree with Ankur here-
Looking at the expected IRRs on relatively conservative exit multiples, they do not exceed minimum of twice
of risk free yields during times of less net margin profile and revenue growth rate… primary because of higher entry multiple-45 PE. Hence there exists valuation risks from opportunity costs point of view.
Britannia with a PE of ~47 ( consolidated ) is as rightly pointed out valued at a premium. Unfortunately that premium is not translating to its biscuits. The area marked in red in the chart is a congestion zone and prices will have to find an opening through that congestion to break free. I don’t think its possible with the current valuation, as all growth prospects are baked in ( pun intended). Prices will probably move around in the congestion area sightseeing but finally will head back ( read down ) home.
I would wait for a bad news item to hit the news before plunging in. Its got some solid brands for sure and remains the only pan national pure sliced bread play. Sliced bread is a basic need and i am all for investing in britannia, however would wait for the cows to come home
With the growth in cookery shows it has become ridiculously easy to manufacture high quality biscuits in your own home. Baking is a hobby adopted by many including myself. Brittania will have to move beyond its comfort zone of biscuits. It should transition hopefully.
Hi @ameydesai
Not not all, any positive changes in the nutritional profile of bread will help the category and Britannia being the only national player will reap the maximum benefit. I am not tracking britannia closely but i think that bread is a relatively small product category for them in terms of revenues even if there is an adverse impact it wont affect them in a material way.
Best
Bheeshma
Amit,
More than Unibic I would say Mondelēz is a competition to keep an eye out because of their R&D capabilities, premium product offering and distribution reach. Can hurt where it pains the most i.e. in premium products. Unibic seems to have me too products. A little bit of market heat up on certain categories is natural. Britannia has been quick to match.
Increase R&D, refresh product portfolio, update formulation, set up JV to expand adjacent product offering, acquisitions, etc are some of the steps to increase competitiveness. Britannia has acted on most satisfactorily and has been looking at others (per details shared in earnings conference call).
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https://www.alphaspread.com/security/nse/britannia/profitability/ratio/operating-margin
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Britannia Industries Ltd NSE:BRITANNIA
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Britannia Industries Ltd (NSE:BRITANNIA) Operating Margin ratio. See how Operating Margin has changed over time and compare its current value with the distribution of Operating Margin across competitors.
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AlphaSpread.com
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https://www.alphaspread.com/security/nse/britannia/profitability/ratio/operating-margin
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© 2024 Alpha Spread Limited. All Rights Reserved.
www.alphaspread.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on www.alphaspread.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. In no event shall Alpha Spread Limited be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on www.alphaspread.com, or relating to the use of, or inability to use, www.alphaspread.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance.
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1225
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dbpedia
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1
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https://www.ipinst.org/
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en
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International Peace Institute
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2024-07-31T12:24:46-04:00
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Promoting the prevention and settlement of conflicts
|
en
|
International Peace Institute
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https://www.ipinst.org
|
The International Peace Institute is an independent, non-profit organization working to strengthen inclusive multilateralism for a more peaceful and sustainable planet. Through its research, convening, and strategic advising, IPI provides innovative recommendations for the United Nations System, member states, regional organizations, civil society, and the private sector. With staff from around the world and a broad range of academic fields, IPI has offices facing United Nations headquarters in New York and an office in Manama.
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1225
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dbpedia
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https://www.just-food.com/news/britannia-industries-to-close-factory-in-india/
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en
|
Britannia Industries to close factory in India
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2024-06-25T17:03:33+00:00
|
India’s Britannia Industries is set to close a factory in Taratala after all of its workers there accepted voluntary retirement schemes.
|
en
|
Just Food
|
https://www.just-food.com/news/britannia-industries-to-close-factory-in-india/
|
India’s Britannia Industries is set to close a factory in a Kolkata suburb after all of its permanent workers at the site accepted voluntary retirement schemes.
The biscuit facility in Taratala, which was established in 1947, is set to close after Britannia Industries notified the Bombay Stock Exchange.
The company reportedly had around 150 employees at the facility, according to The Times of India.
It stood as the company’s second-oldest manufacturing unit in India, but “the closure of this 150-worker unit is not expected to significantly impact the company or the state’s revenue,” a source close to the company said, per The Times of India report.
The factory was shut down because it was outdated, according to local reports.
Just Food has contacted Britannia Industries for further details.
Britannia Industries’ portfolio features biscuits, bread and cakes, along with dairy products. The company supplies the domestic market and 80 destinations worldwide in North America, Europe, Africa, South East Asia and the Middle East. Brands include Good Day, Tiger, NutriChoice, Milk Bikis, Marie Gold and Little Hearts.
Besides West Bengal, the company has three other biscuit manufacturing plants in the eastern states of Bihar, Odisha and Assam.
In the year ended 31 March 2024, Britannia Industries generated revenue of Rs165.46bn ($1.98n), marking a 3.5% rise on the previous year. Operating profit grew 10.1% to Rs28.69bn.
Vice chairman and managing director Varun Berry said after the group revealed its results in May: “In a tepid consumption scenario, our performance this year signifies resilience and competitiveness. Over the past 24 months, we have achieved a strong 19% growth in revenue, accompanied by a notable 43% increase in operating profit.
“Our market share rebounded as the year progressed as a result of strategic pricing actions to maintain competitiveness and intensified investments in brands, supported by distribution expansion.”
|
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1225
|
dbpedia
|
2
| 52 |
https://www.grandviewresearch.com/industry-analysis/healthy-biscuits-market
|
en
|
Healthy Biscuits Market Size, Share & Demand
|
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The global healthy biscuits market size was valued at USD 2.24 million in 2019 and is expected to expand at a CAGR of 5.0% from 2020 to 2025.
|
en
|
/favicon.ico
|
https://www.grandviewresearch.com/industry-analysis/healthy-biscuits-market
|
Report Overview
The global healthy biscuits market size was valued at USD 2.24 million in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 5.0% from 2020 to 2025. The market growth is attributed to rising awareness about health and fitness and growing preference for healthy snack products, especially among the working professionals and millennials. The high nutritional value of healthy biscuits is also expected to augment their demand over the years to come. Increasing product popularity as go-to snacks, which can replace high-calorie content products like chocolates, cakes, and cookies, is further projected to drive the global market.
Demand for healthy biscuits is increasing due to the active lifestyle of the consumers who look for convenient eating options. Rising demand for healthy snacks, coupled with high per capita food consumption, especially in developing countries such as India and China, is contributing to the growth of the global market. Moreover, packaging innovations and an increase in the number of fitness enthusiasts are expected to boost healthy biscuits market growth.
Low price, easy availability, quick consumption, and high nutritional value are some of the factors expected to result in an increasing acceptance of healthy biscuits. Manufacturers are actively indulging in the production of healthy biscuits in different flavors to enhance the taste. For instance, Parle offers digestive biscuits infused with the flavor of honey and oats, along with an aroma of cinnamon. This scenario has led to strong competition in the global market due to the presence of a large number of international and local manufacturers.
Increased demand for natural and non-GMO products has been observed in the global market. Consumers are shifting to natural food products owing to rising health awareness and growing food safety concerns. Moreover, improved lifestyles and the introduction of advanced purchase methods such as online grocery shopping have been fueling the market growth. Furthermore, companies are adopting innovative promotional strategies such as TV campaigns to spread awareness about their healthy products.
Healthy Biscuits Market Trends
Rising awareness about health and wellness has prompted consumers to switch to healthy biscuits that are low in calories, sugar-free, gluten-free, and high in fiber. This trend of consuming healthy snacks is most widespread in European countries such as the U.K., Italy, Spain, and France. The demand for healthy biscuits is increasing due to the hectic lifestyles of consumers, who are always looking for convenient and healthy food items.
Rising incidences of lifestyle-related diseases such as obesity, heart disease, and diabetes among consumers is the major factor driving the demand for healthy biscuits, which, in turn, is anticipated to drive the market for sugar-free biscuits.
Obesity is a serious public health problem in most countries across the world, as it significantly increases the risk of chronic ailments such as cardiovascular diseases, type-2 diabetes, and hypertension. According to World Health Organization (WHO), in European countries, obesity affects 10%–30% of adults, and 30%–70% of adults are overweight. Thus, to control this condition, a greater number of people are switching to sugar-free drinks, biscuits, and confectionery.
Growing consumer inclination towards ready-to-eat and on-the-go products, owing to busier lifestyles and hectic work schedules, is driving the demand for packaged food products, which in turn, is expected to drive the demand for sugar-free biscuits. The increasing working population, especially working women, is anticipated to drive the market for sugar-free biscuits.
The growing trend of snacking and evolving eating habits such as a preference for low-calorie or low-sugar products are also driving the consumption of sugar-free biscuits. The major consumers of sugar-free biscuits are millennials and Gen Z. Moreover, various posts about healthy eating to maintain ideal body weight on social media are also influencing consumers to eat sugar-free biscuits.
The easy and wide availability of conventional biscuits through various distribution channels is the major factor restraining the growth of this market. Conventional biscuits are manufactured by various big players such as Kellogg Company, General Mills, Mondelēz International, and Parle Products that have strong distribution networks across the world and thus, serve a large number of consumers. Moreover, strong advertising and marketing by these players influence consumers to purchase these biscuits.
Type Insights
The reduced calorie segment accounted for the largest share in 2019. The market growth is attributed to rising consumer demand for healthier products, thereby encouraging the manufacturers to produce biscuits with less fat and sugar content. Various manufacturers are operating in this category. For instance, Galletas Gullón manufactures sugar-free Marie and fiber biscuits, Tiffany produces sugar-free biscuits in lemon, orange, and chocolate flavor, and IKO offers biscuits made of pumpkin, oats, and grain ingredients.
The functional and digestive segment is expected to expand at the fastest CAGR of 5.5% from 2019 to 2025. Growing demand for healthy snacks having a high source of dietary fiber is driving the segment. These biscuits are made of different nutrition-rich ingredients such as oats, wheat, and multi-grains. India is anticipated to witness significant growth in this category. The digestive biscuits market in India is majorly dominated by the Britannia Nutrichoice range. Some of the other prominent players operating in this category are Parle NutiCrunch, McVities, and Tiffany.
Distribution Channel Insights
Healthy biscuits have high accessibility through supermarkets and hypermarkets. This distribution channel generated a revenue of USD 1.2 billion in 2018. The physical display of products in the stores allows customers to scan product details. Moreover, the availability of a wide range of products offered by different brands enables consumers to compare and choose the best product. The growth of the organized retail sector and various offers and discounts provided by leading players have also helped in increasing the visibility of these products.
The online category is anticipated to expand at a CAGR of 5.0% from 2020 to 2025. Online distribution is gaining increasing traction among consumers for such products. This distribution channel is penetrating the market with e-commerce platforms and the growing usage of smartphones in daily life. Companies like bigbasket.com and groffers.com are coming up with door-to-door delivery of products with an online display of a wide range of products. Moreover, coupon offers provided by online platforms are influencing the buying behavior of the customers.
Regional Insights
Europe held the largest share in 2019. The market growth is majorly attributed to the high demand for digestive biscuits and the presence of major players namely Mondelēz International, Inc., and United Biscuits. The U.K. accounted for a significant share in the Europe market in 2018. High product demand, as well as a number of product launches, are some of the factors boosting the growth in the country.
Traditionally perceived as unhealthy among consumers, biscuits, and cookies available today have been attracting an increasing number of consumers as many of these are gluten-free, with high fiber content, no added sugar, and high in protein. This is expected to drive the demand for healthy biscuits in the region. Moreover, since the outbreak of COVID-19, consumers confined to their homes have shown a higher tendency to binge on snacks, including biscuits and cookies of various kinds. This trend is also anticipated to boost product sales.
The market growth in Spain can be attributed to the increasing incidence of obesity in the country According to a study by the Mar de Barcelona hospital 80% of men and 55% of women will be overweight by 2030 and if obesity is not controlled 27 million people in Spain will be overweight by 2030. Spanish consumers are opting for smaller portions of snacks, which is expected to benefit the growth of the healthy biscuits market.
The Asia Pacific is expected to witness the fastest growth over the forecast period. Spurring demand for convenient and healthy snack products is likely to be a major factor in market growth. The market in India is marked by the presence of major players such as Britannia, Parle, and ITC, wherein Nutrichoice by Britannia occupies about 70.0% share in the premium health biscuit category, followed by Sunfeast’s Farmlite range.
Key Companies & Market Share Insights
Some of the major players operating in the global market are Mondelēz International, Inc., Pladis (United Biscuits), Britannia, Parle Products Pvt. Ltd., ITC Limited (Sunfeast), IFFCO (Tiffany), COSMIC NUTRACOS SOLUTIONS PRIVATE LIMITED (GAIA), UNIBIC Foods India Pvt. Ltd., and Anmol Industries Ltd.BelVita by Mondelēz has witnessed global sales double to more than USD 600 million since its launch in the U.S. in 2012. It has been considered as the fifth best-selling brand in the U.S. as an essential breakfast snack. Growing preference for healthy snacking items is expected to offer potential opportunities for the companies to expand their product offerings in this category in the near future.
Healthy Biscuits Market Report Scope
Global Healthy Biscuits Market Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global healthy biscuits market report on the basis of type, distribution channel, and region:
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1225
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dbpedia
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1
| 4 |
https://www.livemint.com/market/mark-to-market/britannia-industries-faces-challenges-as-local-players-resurface-shares-fall-by-3-11691425362015.html
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en
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Britannia feels the pinch as local rivals return
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[
"Britannia",
"rivals",
"volume",
"growth",
"Britannia Industries Ltd",
"local players",
"inflationary pressures",
"price corrections",
"volume performance"
] | null |
[
"Vineetha Sampath"
] |
2023-08-07T21:52:41+05:30
|
The main problem is that volume performance has been underwhelming. In Q1, volume was flat year-on-year, and revenue growth was price led.
|
en
|
mint
|
https://www.livemint.com/market/mark-to-market/britannia-industries-faces-challenges-as-local-players-resurface-shares-fall-by-3-11691425362015.html
|
The main problem is that volume performance has been underwhelming. In Q1, volume was flat year-on-year, and revenue growth was price led. But with pricing growth expected to taper, it is crucial for volume to gain traction. Here it does not help that there is sluggishness in its rural markets.
In general, as local competition resurfaces with receding inflation levels, it is a threat for Britannia. True, it has widened the market share gap with the No. 2 company in the biscuit portfolio. But Britannia’s market share was largely flat in Q1 versus FY23 as local players captured more share. To remain competitive and drive market share growth, the company would deploy the necessary pricing strategies. Britannia expects FY24 to be flat from a pricing growth standpoint.
“Lower pricing should drive volumes higher going forward but as it stands today, H2FY24 looks challenging from topline (given price-cuts) as well as bottom line (higher margin would be in the base by then) perspectives, unless volumes offset the hit from lower pricing," said analysts at JM Financial Institutional Securities in a report on 4 August.
However, there is a silver lining. The number of packs sold by Britannia in Q1 was up by 9% year-on-year despite flat volume. In view of this, it expects volume to recover gradually in terms of tonnage as well.
Coming to profit margin, the new year has begun on a somewhat dull note for Britannia. Recall that in FY23, Britannia saw gains from lower cost of wheat. This is not the case now. Britannia’s Ebitda margin in FY23 had expanded by 179 basis points (bps) year-on-year to 17.4%. One basis point is one-hundredth of a percentage point. In Q1FY24, while Ebitda margin at 17.2% increased by 365 bps, it has tapered from multi-qu-arter highs of 20% seen in Q4FY23.
Britannia expects the measure to roughly remain at the same levels. The price of commodities such as flour and sugar remain elevated. Britannia noted that production of flour has not been good this year and hence, prices need to be tracked closely. On the other hand, it helps that prices of other inputs such as palm oil and corrugated boxes are on a downtrend. Having said that, commissioning of new lines would lead to higher employee costs. In this backdrop, how Britannia manages to sustain margin levels through cost reduction remains to be seen.
Meanwhile, one needs to keep a close eye on performance of Britannia’s non-biscuit categories.
It is optimistic about its cheese business and is seeing some green shoots in cake category. Akin to the trend seen in biscuits, regional players have emerged in rusk too. The dairy business is on a strong footing.
All said, Britannia’s Q1 performance has triggered earnings cuts. For example, Nuvama Research has slashed revenue estimates by 3% each for FY24/25 yielding an earnings per share cut of 0.6%/1.2%.
To be sure, investors are sitting on handsome returns with Britannia’s shares rising by 26% in the past one year. To that extent, valuations are not cheap. Britannia’s shares trade at 43 times FY25 estimated earnings, showed Bloomberg data.
|
|||||
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|
1
| 50 |
https://www.wwf.org.uk/updates/8-things-know-about-palm-oil
|
en
|
8 things to know about palm oil
|
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[
"KPiotrowska"
] |
2022-01-17T08:00:12+00:00
|
Palm oil is one of the most efficient and widely used vegetable oils that comes from the fruit of oil palm trees. We've broken down they key facts.
|
en
|
/sites/default/files/favicon_0.ico
|
WWF
|
https://www.wwf.org.uk/updates/8-things-know-about-palm-oil
|
It’s an edible vegetable oil that comes from the fruit of oil palm trees, the scientific name is Elaeis guineensis. Two types of oil can be produced; crude palm oil comes from squeezing the fleshy fruit, and palm kernel oil which comes from crushing the kernel, or the stone in the middle of the fruit. Oil palm trees are native to Africa but were brought to South-East Asia just over 100 years ago as an ornamental tree crop. Now, Indonesia and Malaysia make up over 85% of global supply but there are 42 other countries that also produce palm oil.
2. What products is it in?
Palm oil is in nearly everything – it’s in close to 50% of the packaged products we find in supermarkets, everything from pizza, doughnuts and chocolate, to deodorant, shampoo, toothpaste and lipstick. It’s also used in animal feed and as a biofuel in many parts of the world (not in the UK though!).
Palm oil is an extremely versatile oil that has many different properties and functions that makes it so useful and so widely used. It is semi-solid at room temperature so can keep spreads spreadable; it is resistant to oxidation so can give products a longer shelf-life; it’s stable at high temperatures so helps to give fried products a crispy and crunchy texture; and it’s also odourless and colourless so doesn’t alter the look or smell of food products. In Asian and African countries, palm oil is used widely as a cooking oil, just like we might use sunflower or olive oil here in the UK.
As well as being versatile, compared to other vegetable oils the oil palm is a very efficient crop, able to produce high quantities of oil over small areas of land, almost all year round. This makes it an attractive crop for growers and smallholders, who can rely on the steady income that palm oil provides.
4. What is the problem with palm oil?
Palm oil has been and continues to be a major driver of deforestation of some of the world’s most biodiverse forests, destroying the habitat of already endangered species like the Orangutan, pygmy elephant and Sumatran rhino. This forest loss coupled with conversion of carbon rich peat soils are throwing out millions of tonnes of greenhouse gases into the atmosphere and contributing to climate change. There also remains some exploitation of workers and child labour. These are serious issues that the whole palm oil sector needs to step up to address because it doesn’t have to be this way.
Palm oil can be produced more sustainably and there is a role for companies, governments, and consumers to play. The Roundtable on Sustainable Palm Oil or RSPO was formed in 2004 in response to increasing concerns about the impacts palm oil was having on the environment and on society. The RSPO has production standards for growers that set best practices for producing and sourcing palm oil, and it has the buy-in of most of the global industry. RSPO encourage companies to:
Set robust policies to remove deforestation, conversion of other natural ecosystems, such as peatlands, and human rights abuses from their supply chains
Buy and use RSPO certified palm oil across their operations globally
Be transparent in their use and sourcing of palm oil ensuring they know who they are buying from and where it’s been produced
It is important that the palm oil industry continues to invest in and grow support for and smallholder programmes and sustainable landscape initiatives. WWF is also working with governments in both palm oil using and palm oil producing countries to make sure that national laws are in place to ensure that any palm oil traded is free of deforestation, conversion and exploitation.
The RSPO is the global standard for the sustainable production of palm oil. When palm oil is produced in adherence to RSPO standards, growers help to protect the environment and the local communities who depend on the crop for their livelihoods, so that palm oil can continue to play a key role in food security, economic development, and food supply chains. We should continue to use RSPO certified sustainable palm oil in products, as replacing it would result in more deforestation and natural habitat conversion. RSPO certified products that use palm oil from ‘Segregated’ or ‘Identity Preserved’ supply chains offer the greatest assurance of sustainable palm oil.
Along with other organisations, WWF plays an active role in influencing and shaping the RSPO standard to make sure it puts in place more safeguards for people and the planet. In November 2018, the RSPO standard was strengthened and it now represents an essential tool that can help companies achieve their commitments to palm oil that is free of deforestation, conversion of other natural habitats like peatlands, and the exploitation of people.
8. What is being done in the UK?
In 2012, the UK Government recognised that we were part of the palm oil problem and could also be part of the solution. They set a commitment for 100% of the palm oil used in the UK to be from sustainable sources that don’t harm nature or people. In 2019, 70% of the total palm oil imports to the UK were sustainable. This is great progress but there is more to be done to get to 100%.
An area that represents a substantial gap in the uptake of certified sustainable palm the use of palm-derived ingredients in animal feed – for chickens, pigs and cows, for example. Much of this palm oil material is unlikely to be certified. This area requires much stronger transparency and ambition from the UK industry, and is going to be critical over the coming years if we are to truly tackle the UK’s palm oil footprint.
|
||||
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|
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3
| 86 |
https://www.thehindubusinessline.com/companies/britannia-industries-to-invest-621-crore-under-the-pli-scheme/article37978567.ece
|
en
|
Britannia Industries to invest ₹621 crore under PLI scheme
|
https://bl-i.thgim.com/public/companies/yd5tvf/article37978566.ece/alternates/LANDSCAPE_1200/blVarunBerry
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https://bl-i.thgim.com/public/companies/yd5tvf/article37978566.ece/alternates/LANDSCAPE_1200/blVarunBerry
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""
] | null |
[
"Meenakshi Verma Ambwani"
] |
2021-12-17T12:45:39+00:00
|
Revamps its leading brand Good Day with new brand identity
|
en
|
https://www.thehindubusinessline.com/favicon.ico
|
BusinessLine
|
https://www.thehindubusinessline.com/companies/britannia-industries-to-invest-621-crore-under-the-pli-scheme/article37978567.ece
|
Packaged food major Britannia Industries will be investing ₹621 crore in the next three years as part of its proposal for the production-linked incentive (PLI) scheme which recently got the government’s nod. Britannia has also decided to revamp its leading biscuits brand Good Day — the biggest makeover undertaken for its top brand — through a new product design and packaging as part of the new brand identity.
Boost to the sector
Last week, the Food Processing Ministry selected 60 applicants which will avail benefits based on the investments and sales-based criteria under the PLI scheme in the food processing sector. Britannia’s application had been selected under the Ready-to-Eat/Ready-to-Cook category.
Also see: Food Processing Ministry gives nod to 60 applications under PLI Scheme
Varun Berry, Managing Director, Britannia Industries, told BusinessLine , “We appreciate the initiative taken by the government. This scheme will give a much needed boost to the food processing sector and promote growth and investment. We will be making investments of approximately ₹621 crore in the next three years.”
He added that Britannia will be working towards meeting investment and growth commitments under the PLI scheme.
New brand identity
Talking on Good Day’s new brand identity, Berry said significant investments are being pumped in by Britannia for the largest revamp of its top brand. Under the new brand identity, the new Good Day biscuit design will sport different smiles and comes with a refreshed packaging and logo. As part of the high intensity launch, the new packs are being made available in over 4.8 million retail outlets. It is also backed by a high decibel marketing campaign.
“Good Day has always stood for optimism and spreading happiness. The world has been witnessing challenging times and we felt this was the right time for the brand, that has undergone its biggest makeover, to create optimism. The new Good Day brand identity is inspired by the diverse smiles of India. Every pack of Good Day across the country will carry multiple smiles as part of the biscuit design,” Berry added.
Also see: Stability in crude to augur well for paint cos, FMCG may continue to face headwinds
The brand accounts for nearly one-fourth of Britannia’s revenues and is expected to outpace the total growth of the company by about 2-3 per cent. It enjoys a strong market share in the urban region and the company has been focusing on expanding its rural reach.
“Over the past few years, we have been focusing on growing Good Day’s reach in rural regions and its distribution has moved up smartly. Consumers are increasingly moving towards trusted packaged biscuits brands from the unorganised segment in rural markets, and we believe there is tremendous growth potential for the brand in the rural regions,” Berry added.
Britannia also plans to add new variants to the Good Day portfolio such as Good Day Harmony with exotic nuts among others.
|
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3
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https://medium.com/%40freevest/britannia-industries-ltd-q2-fy24-earnings-call-summary-85de4eb9fa89
|
en
|
Britannia Industries Ltd Q2 FY24 Earnings Call Summary
|
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[
"Freevest",
"medium.com"
] |
2024-01-01T03:19:29.809000+00:00
|
Earnings Call Transcript can be found here. “Britannia Industries Ltd Q2 FY24 Earnings Call Summary” is published by Freevest.
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en
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Medium
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https://medium.com/@freevest/britannia-industries-ltd-q2-fy24-earnings-call-summary-85de4eb9fa89
|
Freevest
·
Follow
4 min read
·
Jan 1, 2024
--
Earnings Call Transcript can be found here
Key Takeaways from Management Presentation
Positives:
Market Potential: The overall food and beverage market, including Britannia’s specific market segments, displays promising growth trends with a substantial size and continuous CAGR over the last five years.
Consumption Trends: Increased consumption occasions per day and higher biscuit consumption per year signify a positive consumer behavior shift towards Britannia’s products.
Changing Demographics: The shift towards nuclear families, increased female workforce participation, rising per capita income, and urbanization are creating a demand for packaged food and convenience, aligning with Britannia’s market position and growth strategy.
Distribution Expansion: Britannia has significantly expanded its distribution network, particularly in rural areas, and managed to increase market share and reach despite a heavier presence in urban areas.
Product Diversification and Innovation: Efforts towards product diversification, innovation, and expansion into new categories and geographies exhibit a proactive approach to leverage opportunities.
Operational Efficiency: Continuous improvement in cost efficiencies, substantial investments in manufacturing infrastructure, and digital transformation (SAP HANA, digital marketing, leveraging data) contribute positively to overall operational efficiency and decision-making capabilities.
Sustainability and People Focus: Britannia’s focus on sustainability, being among India’s most sustainable companies, and its recognition as a top employer and organization for women’s empowerment showcase strong corporate social responsibility and people-centric initiatives.
Financial Performance: Britannia has achieved consistent turnover and operating profit growth over the years, with healthy operating margins, demonstrating financial stability and long-term value creation.
Negatives:
Market Growth: Despite positive long-term prospects, recent quarterly top-line growth has been flat or relatively low, indicating a slowdown or challenges in the market.
Rural Slowdown: While Britannia has expanded into rural areas, there’s a current slowdown in rural growth, which might pose challenges given their significant focus on urban markets and relatively higher market share there.
Commodity Price Volatility: Concerns about inflationary pressures on commodities, especially with uncertainties in the global scenario (Middle East, Russia), indicate a potential risk that needs vigilant monitoring.
Competition and Challenges: Increased competition in adjacent categories poses a challenge despite ongoing innovations. Some product lines haven’t performed as expected, needing further improvement.
Distribution Challenges: Although the distribution network has expanded, there’s a need to strategize and leverage the portfolio better, especially with the aid of data analytics and AI to optimize the route to market.
Quarterly Performance: Recent quarterly performance shows subdued growth, demanding a focus on strategies to enhance top-line growth.
Key Takeaways from Q&A
Better Snack Co’s Focus: Varun Berry intends to leverage the Better Snack Co brand for healthier snacking products, primarily for modern trade and e-commerce, focusing on a selective approach for distribution.
Makhana & Margins: Makhana is seen as a small category, not highly commoditized, and is presently targeted only for modern trade and e-commerce. However, margins seem reasonable for the brand in this space.
Salty Snacks & Test Markets: The salty snacks category is challenging. Berry and the team are cautious, taking time to collect data from test markets before planning a wider launch, ensuring a strong marketing mix and readiness for a national launch.
Market Share & Competition: Inflationary times often lead smaller players to exit due to higher costs, but they can return when commodity prices drop. Berry acknowledges charging a premium but within a defined band to avoid market disturbances from competitors.
Market Share Trends: Despite fluctuations in the market, Berry indicates that Britannia has not lost market share and, in fact, has gained shares in various states.
Volume Growth Challenges: Britannia faced challenges with volume growth, primarily due to a high base effect from the previous year’s growth of 22%, rural market growth slowdown, and regional competition.
Advertising Spend Increase: Britannia increased advertising and promotion spends by about 1.5%, focusing on consumer promotions and brand advertising to support their products.
Market Expansion & Britannia’s Portfolio: Britannia is concentrated in bakery and dairy but aims to move into adjacent snacking spaces cautiously, focusing on products where they believe they have a right to succeed.
Acquisition Strategy: Britannia’s current focus is on leveraging the joint venture with Bel to introduce new products into India. They are open to acquisitions if it aligns with their strategic direction and comes at the right price.
Gross Margin Expectations: Future gross margins may depend on the prevailing economic situations globally (Middle East, Russia-Ukraine conflicts). Maintaining current levels could be the target given uncertainties.
Inflationary Impact on Costs: Strategic procurement helps Britannia mitigate inflation in wheat prices. Their internal numbers may differ from spot prices, providing them with some insulation from inflationary pressures.
Consumer Behavior and Premiumization: Premiumization in Britannia’s portfolio continues, with consumer mix favoring premium brands even during inflationary times, avoiding a significant downgrading effect.
Price Action
+21% since results 1st Nov 2023
+24% YTD
+24% 1 Year
Top Heuristic Metrics to Monitor
Market Share Trends: Britannia’s ability to maintain or gain market share despite market fluctuations and challenges indicates the strength of its brand, product portfolio, and competitive strategies. This metric reflects the company’s ability to retain its customer base and potentially gain ground against competitors.
Volume Growth Challenges: Understanding the challenges related to volume growth, especially in the context of a high base effect from previous years, slowdown in rural market growth, and regional competition, is crucial. This metric reflects the company’s operational performance and its ability to adapt and grow despite market complexities.
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https://straitsresearch.com/report/healthy-biscuits-market
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en
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Healthy Biscuits Market Segmentation, Demand, Growth, Forecast to 2030
|
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[
"Healthy Biscuits Market Value",
"Healthy Biscuits Market Size",
"Healthy Biscuits Market Share",
"Healthy Biscuits Market Report",
"Healthy Biscuits Market 2022",
"Global Healthy Biscuits Market"
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[
"Straits Research"
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The global healthy biscuits market was valued at USD 2.49 billion in 2021. It is projected to reach USD 3.82 billion by 2030, Europe is the most dominant region in the global healthy biscuits market.
|
en
|
https://straitsresearch.com/favicon.ico
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https://straitsresearch.com/report/healthy-biscuits-market
|
Market Overview
The global healthy biscuits market size was valued at USD 2.49 billion in 2021. It is projected to reach USD 3.82 billion by 2030, growing at a CAGR of 5.20% during the forecast period (2022–2030).
The Healthy Biscuits Market study focuses primarily on the industry's size, recent trends, opportunities, market share, development status, investment possibilities, market dynamics (drivers, constraints, and opportunities), and supply chain. Innovations and technological advances will further enhance the product's performance, expanding its use in downstream applications. Porter's Five Forces Analysis (possible entrants, suppliers, substitutes, buyers, and industry competitors) is included in the Healthy Biscuits Market study. This analysis is essential for understanding the Healthy Biscuits market. The global Healthy Biscuits market report includes:
Development trends.
An analysis of the competitive landscape.
The development status of key regions.
Biscuits are vital products and snacks consumed by a large population in nearly every region. Healthy biscuits have established a new trend in the biscuit industry as health awareness has grown, as they are a good source of nutrients and an appealing flavor.
Market Dynamics
Market Drivers
Growing Health and Fitness Consciousness to Drive Market
Rising health and fitness consciousness and a growing preference for healthy snack products, especially among working professionals and millennials, are responsible for the market's expansion. The solid nutritional content of nutritious biscuits is also anticipated to increase their demand in the following years. Increasing product appeal as go-to snacks, replacing products with high-calorie content such as chocolates, cakes, and cookies, is anticipated to drive the global market further. Due to customers' active lifestyles and need for easy dining options, there is a growing demand for nutritious biscuits. Increasing demand for healthy snacks and increasing per capita food consumption, particularly in developing nations like India and China, are driving the global market expansion.
Low Cost, Wide Availability, and Rapid Consumption to Augment Market Growth Prospect
Low pricing, easy accessibility, rapid consumption, and high nutritional value are some of the elements that are anticipated to increase the popularity of healthy biscuits. To enhance the flavor of healthy biscuits, manufacturers are producing a variety of flavored varieties. Parle provides digestive biscuits flavored with honey and oats and scented with cinnamon. Due to a significant number of international and domestic manufacturers, this situation has resulted in intense competition worldwide. Due to increased health consciousness and food safety concerns, consumers are gravitating toward natural food items. In addition, improving lifestyles and innovative purchasing techniques, such as online grocery shopping, have contributed to the sector's expansion. Businesses are implementing new advertising techniques, such as television advertisements, to increase awareness of their healthy products.
Market Restraints
Lack of Flavor to Hinder Market Growth
The taste is one of the issues mentioned in the report as being one of the obstacles facing the healthy biscuit industry. The healthy features offer a vast potential market, but the analysis emphasized the taste as one of the challenges. It is estimated that twenty-five percent of Indians are unaware that nutritious biscuits are flavorless. This ratio rose to 28 percent among those who already consumed nutritious biscuits, whereas it was only 18 percent among those who did not consume these biscuits. Regarding biscuit consumption, about 23% of customers give more weight to flavor than to their health.
Market Opportunities
Expanding Snacking Trends and Changing Dietary Patterns to Spur Market Opportunities
In addition to a preference for low-calorie or low-sugar products, the rising snacking trend and changing eating patterns are boosting the demand for sugar-free biscuits. The primary consumers of sugar-free biscuits are millennials and members of Generation Z. Additionally, social media messages on healthy eating to maintain an optimum body weight influence customers to consume sugar-free cookies. The wide availability of traditional biscuits through various distribution channels is the primary factor inhibiting the expansion of this industry. Numerous multinational corporations, such as Kellogg Company, General Mills, Model"z International, and Parle Products, produce traditional biscuits and serve many consumers through their global distribution networks. In addition, these players' effective promotion and marketing efforts inspire consumers to purchase these biscuits.
Regional Analysis
The global healthy biscuits market is segmented into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Europe is the most dominant region in the global healthy biscuits market during the forecast period. The high demand for digestive biscuits and the existence of significant players like Model"z International, Inc. and United Biscuits are primarily responsible for the market's expansion. High product demand and numerous product launches drive the country's economic expansion. Biscuits and cookies attract many consumers since many are gluten-free, have high fiber content, have no added sugar, and are protein-rich. This is anticipated to increase the demand for nutritious cookies in the region.
The market expansion in Spain can be related to the country's rising obesity rate. According to a study by the Mar de Barcelona hospital, 80% of men and 55% of women will be overweight by 2030, and 27 million Spaniards will be overweight if obesity is not controlled. The preference of Spanish consumers for smaller servings of snacks is anticipated to contribute to the expansion of the healthy biscuits industry. Asia-Pacific is anticipated to undergo the highest growth during the projection period. Increasing demand for quick and nutritious snack products is projected to be a significant market growth driver.
Report Scope
Report Metric Details Segmentations By Type
Functional and Digestive
Gluten-free
Reduced Calorie
By Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Online
Company Profiles Mondelēz International Inc. Pladis Britannia Parle Products Pvt. Ltd. IFFCO COSMIC NUTRACOS SOLUTIONS PRIVATE LIMITED UNIBIC Foods India Pvt. Ltd. Anmol Industries Ltd. ITC Limited IKO Geographies Covered North America U.S. Canada Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Need a Custom Report?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports
Segmental Analysis
The global healthy biscuits market is segmented by type and distribution channel.
On the Basis of Type
Based on type, the market is segmented into functional and digestive, gluten-free, and reduced calorie.
The reduced calorie segment held the most significant market share during the forecast period. This market expansion is attributable to increased customer demand for healthier products, encouraging producers to make biscuits with less fat and sugar. For example, Galletas Gullón sells sugar-free Marie and fiber biscuits, Tiffany creates sugar-free biscuits flavored with lemon, orange, and chocolate, and IKO offers biscuits made with pumpkin, oats, and grain ingredients. The functional and digestive segment is anticipated to grow at a CAGR of 7.65% during the forecast period. The rising demand for healthy snacks with high dietary fiber drives the market. This category is expected to have tremendous expansion in India. The Britannia Nutrichoice brand dominates the digestive biscuits industry in India. Parle NutiCrunch, McVities, and Tiffany are some of the other notable companies functioning in this sector.
On the Basis of Distribution Channels
Based on distribution channels, the market is divided into supermarkets/hypermarkets, convenience stores, and online.
The supermarkets and hypermarkets dominate the global healthy biscuits market during the forecast period. Customers can examine the specifics of a product because it is presented in its tangible form in the store. In addition, a diverse selection of brands that sells a wide variety of products gives customers the flexibility to evaluate multiple options and pick the one that best meets their needs. The rise of the organized retail sector and many discounts that key companies provide have also contributed to the growth. The internet category is predicted to grow at a CAGR of 6.3% during the forecast period. Customers of these types of products are increasingly turning to online distribution. This distribution channel is making headway in the industry thanks to the rise of e-commerce platforms and the increasing prevalence of smartphones in people's everyday lives. Businesses like bigbasket.com and groffers.com are leading the way in door-to-door product delivery by fusing their operations with an online catalog that offers various products. In addition, the coupon offers made available by online platforms affect the customers' propensity to purchase.
Market Size By Type
Functional and Digestive
Gluten-free
Reduced Calorie
Impact of covid-19
Covid-19 had some profound adverse impacts on the global advanced ceramics market.
COVID-19 spread across the world from China, making the whole world stand still and to a complete lockdown situation. Covid-19 is an infectious disease that was caused by a newly discovered coronavirus. During the time, the fatality rate among the population above 40 was also high globally. The disease causes severe illness for people suffering from medical conditions like diabetes, cardiovascular disease, chronic respiratory disease, etc.
Considering the situation during that time, it was declared a pandemic which led to numerous countries, including the major economies like China, the United States, India, and others, implementing lockdowns which adversely affected the global economy.
In the first two quarters of 2020, the economic and industrial operations temporarily halted. Almost every manufacturing unit where advanced ceramics is used, such as electrical and electronics, transportation, industrial, chemical, and other End-user Industries (except medical), reduced their manufacturing capacities due to the lack of workers. The lockdown implemented put a halt to global supply chains. This resulted in repercussions in terms of both production and demand for advanced ceramics.
Market Recovery Timeline and Challenges
With time the lockdowns were uplifted, and relaxation was made to the public. Gradually, the economy picked up the pace and started its operations, bringing the demand in the global advanced ceramics market and increasing among various industries. As the situation improved during the initial months of 2021, the economies also strengthened their fiscal policies and initiated their development process; the end-user industries began their activities, bringing the overall ceramics market back on track.
Recent Developments
In May 2022, Mondelēz International, Inc., Progressing Against Our Snacking Made Right ESG Goals.
In June 2022, Pladis, McVitie’s Commemorate the Queen’s Platinum Jubilee.
In June 2022, Parle-G's New Post on Mental Health Strengthens Our Love for A Childhood Favourite.
In June 2022, Parle continues to be India's top FMCG brand: Kantar Worldpanel.
Key Players
Healthy Biscuits Market Share of Key Players
Mondelēz International Inc. Pladis Britannia Parle Products Pvt. Ltd. IFFCO COSMIC NUTRACOS SOLUTIONS PRIVATE LIMITED UNIBIC Foods India Pvt. Ltd. Anmol Industries Ltd. ITC Limited IKO Others
Frequently Asked Questions (FAQs)
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https://www.business-standard.com/article/companies/britannia-to-have-overseas-operation-in-two-markets-in-next-two-years-118111301346_1.html
|
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Britannia to have overseas operation in two markets in next two years
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"fmcg",
"Britannia croissants",
"Britannia manufacturing",
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"Britannia overseas manufacturing"
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[
"Press Trust of India",
"Business Standard"
] |
2018-11-13T19:20:00+05:30
|
Britannia Industries already operates two factories in the Middle East
|
en
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https://www.business-standard.com/favicon.ico
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https://www.business-standard.com/article/companies/britannia-to-have-overseas-operation-in-two-markets-in-next-two-years-118111301346_1.html
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https://www.digitaljournal.com/pr/news/cookies-market-generated-opportunities-future-scope-2022-2028
|
en
|
Cookies Market Generated Opportunities, Future Scope 2022-2028
|
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[
""
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"Newsmantraa"
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2023-03-29T02:00:48+00:00
|
en
|
https://newsmantraa.us/cookies-market-generated-opportunities-future-scope-2022-2028/
|
PRESS RELEASE
Published March 29, 2023
In 2023, What is “Global Cookies Market” Insights?
Leading Market Research Firm: Skyquest Technology has announced the release of its latest report on Cookies Market. It provides an in-depth analysis of the drivers, restraints, market dynamics, trends, opportunities and challenges, and competitive landscape that are expected to shape its future growth trajectory.
Global cookies market was valued to be USD 31.23 billion in 2021, and it is anticipated to reach USD 47.87 billion by 2028 at a CAGR of 5.15% over the forecast period 2022 – 2028.
Get Free Sample PDF For Better Understanding: https://skyquestt.com/sample-request/cookies-market
Which key players operating in Global Cookies Market and how high is the competition in 2023?
Global leading players are profiled with their revenue, market share, profit margin, major product portfolio, and SWOT analysis. From an industry perspective, report analyses the supply chain, including process chart introduction, upstream key raw material and cost analysis, and distributor and downstream buyer analysis. Global Cookies Market report also includes global and regional market size and forecast, major product development trends and typical downstream segment scenarios, under the context of market drivers and inhibitors analysis.
Key players :
Mondelez International (US), Britannia Industries (India), Jiashili Group Limited (China), Nestlé SA (Switzerland), Burton’s Biscuit Company (UK), Lotus Bakeries NV (Belgium), ITC Ltd. (India), Leibniz-Keks (Germany), Kellogg Co (US), Kraft Foods (US), Mars Inc. (US), United Biscuits (UK), Want Want Group (Taiwan)
Get Full Summary of Global Cookies Market: https://skyquestt.com/report/cookies-market
Global Cookies Market Forecast | Influencing Factors | Historic Data
Market Size Forecast: Global Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography.
Global Cookies Market Drivers: Growing Demand, Reduction in Cost, Market Opportunities and Challenges.
Key Data (Revenue): Global Cookies Market Size, Market Share, Growth Rate, Growth, Product Sales Price.
Global Cookies Market Sales Revenue: Market Share, Growth Rate, Current Market Analysis.
Competitive Landscape: By Manufacturers, Development Trends.
Industry Trends: Global Revenue, Status, and Outlook.
Market Segment: By Types, By Applications, By Regions/ Geography.
Product Revenue for Top Players: Market Share, Growth Rate, Current Market Situation Analysis.
Market Environment: Government Policies, Technological Changes, Market Risks.
Speak With Our Analyst For More Information:
https://skyquestt.com/speak-with-analyst/cookies-market
Competitive Outlook
The report notes that the Global Cookies Market is highly competitive, with various vendors offering innovative products and services. In addition, the report highlights the growing popularity, which are expected to play a major role in the growth of the Global Cookies Market.
Geographic Segment Covered in the Report:
The Global Cookies Market report is segmented into following regions and countries-
Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
Middle East and Africa (GCC and rest of the Middle East and Africa)
North America (USA and Canada)
Latin America (Brazil, Mexico, and the rest of Latin America)
Europe (UK, Germany, France and the rest of Europe)
About Us:
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
Address:
1 Apache Way, Westford, Massachusetts 01886
Phone:
USA (+1) 617-230-0741
Email: [email protected]
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|
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FMCG: Pandemic brought significant shifts in consumer preferences, says Britannia Industries, ET Retail
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[
"ET Retail",
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] |
2021-09-07T14:36:41+05:30
|
FMCG: The company is well placed to sustain growth and is confident of addressing the evolving situation with its wide distribution network, intrinsic brand strengths, innovation and technology capabilities and cost efficiency programmes, it said in its latest annual report.
|
en
|
https://img.etb2bimg.com/files/cp/upload-1686643591-retail.ico
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ETRetail.com
|
https://retail.economictimes.indiatimes.com/news/food-entertainment/personal-care-pet-supplies-liquor/pandemic-brought-significant-shifts-in-consumer-preferences-says-britannia-industries/86003617
|
PTI
Updated On Sep 7, 2021 at 02:40 PM IST
Read by: 100 Industry Professionals
Read by 100 Industry Professionals
The pandemic has brought significant shifts in consumer preferences and behaviours, including the growth of online business channels, which are likely to strengthen and present new opportunities for food business in future, according to Britannia Industries. The company is well placed to sustain growth and is confident of addressing the evolving situation with its wide distribution network, intrinsic brand strengths, innovation and technology capabilities and cost efficiency programmes, it said in its latest annual report.
"Significant shifts in consumer preferences and behaviours, growth of online business channels and higher demand for staples and value products are some of the changes brought about by the pandemic. These trends are likely to strengthen and present new opportunities for the food business in future," the company said.
Advt
According to Britannia, it foresees opportunities to scale up its dairy business by leveraging product innovation and accelerating the growth of value-added products into the segment.
The company is going for expansion of distribution for the dairy portfolio, growth of e-commerce & digital subscription platforms and culinary experimentation at home with categories like cheese due to the lockdown.
In the segment, Britannia sees quality milk procurement and infrastructure improvement, including cold chain, as the primary growth challenges.
"To address these challenges, your company has been continuously investing in farmer connect programmes, scaling up milk procurement capabilities, ensuring consistency in quality of raw material and strengthening cold chain distribution," it said.
While talking about the biscuit segment, Britannia said India continues to provide significant opportunities for growth as the per capita consumption is much lower than that of developed countries.
"High levels of household penetration (above 90 per cent) augurs well for an increase in consumption. There is potential to spur consumption growth through innovative, healthy and premium products," the annual report said.
In the cake segment, Britannia said its immediate strategic priorities are to strengthen and scale up innovation, renovate and make the base cake segment more premium and in new-to-market formats with affordable prices.
Advt
"There are opportunities for growth through the launch of innovative products at different price points and expansion in rural markets," said Britannia Industries.
In rusk, Britannia's strategy is to grow by investing in technology, renovate existing portfolio and expand the category with new varieties at affordable price points.
"These measures are intended to attain segment leadership by understanding consumer preferences and meeting their expectations," it said.
While talking about bread, Britannia said it has continued to grow and strengthen its leadership in the Health Segment with superior and differentiated products like 'atta' pizza, multigrain and cheese garlic bread, etc.
The category is evolving rapidly due to entry of new players and market consolidation, it added.
"With the entry of significant competitors and signs of consolidation in this space, your company has renewed its focus on further diversification of portfolio, strengthening manufacturing capability, expansion into new markets and e-commerce as well as Brand building through launch of refreshed packaging and relevant products," it said.
In the international business, Britannia's strategy is to achieve growth and market share by increasing presence among the Indian diaspora, develop new products to recruit local ethnic clusters and establish local operations in fast growing emerging markets like contract manufacturing, acquisitions, joint ventures etc.
"The Export markets in Americas, Asia and Africa that were developed in previous years shows promising growth potential and the company is focused on mainstream channel expansion and opening more white space markets, in these geographies," it said.
For the financial year ended March 31, 2021, Britannia Industries' consolidated sales were at Rs 12,883.04 crore, up 12.6 per cent as against Rs 11,443.99 crore in the previous year.
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Britannia Industries Limited
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Britannia Industries Limited | 1,182,475 followers on LinkedIn. Britannia is a 100 year+ organization with presence in Biscuits, Breads, Cake, Rusk, Dairy and snacking. The company celebrated its 100th year in 2018 and has emerged as a Market Leader in the Biscuit space, while also launching a host of new products and entering new categories, inching closer to the vision of being a Global Total Foods Company. We are one of the best employers in India as per the Aon Best Employers Study, 2019 and Kincentric Best Employer Study, 2020 while holding the position as Brand Equity's most trusted food brand, 2019.
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https://in.linkedin.com/company/britannia-industries-limited
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Britannia is a 100 year+ organization with presence in Biscuits, Breads, Cake, Rusk, Dairy and snacking. The company celebrated its 100th year in 2018 and has emerged as a Market Leader in the Biscuit space, while also launching a host of new products and entering new categories, inching closer to the vision of being a Global Total Foods Company. We are one of the best employers in India as per the Aon Best Employers Study, 2019 and Kincentric Best Employer Study, 2020 while holding the position as Brand Equity's most trusted food brand, 2019. Our Employer Brand is “MAKE Ti)NGS HAPPEN”, with the intent of bringing alive the new corporate brand “Exciting Goodness” into the lives of Britannians because it is the Britannians who have been making things happen through the 100 year journey. The corporate values of Britannia are: 1. INVITi)NG, Come home to Britannia 2. IGNITi)NG, Fuel the Hunger 3. CREATi)NG, Build enriching careers 4. RESPECTi)NG, Do the right Ting Together these 4 Tings sum up the culture at Britannia and guide Britannians to make ‘tings’ happen all across. The work environment exudes warm professionalism and is accepting of diverse ideas and thoughts while empowering employees as owners. Britannians have always prided themselves in the quality of work, width of role that one gets to handle at an early stage. Employees talk about the “Enriched Learning” that they get on the job at Britannia and the scope to move internally as potential is valued and bet on. Employees are encouraged to do more with less and strive for excellence in their jobs. Britannia is also a socially responsible organization with a strong sustainability agenda to address malnutrition in marginalized communities of the country and provides platforms to employees to add purpose to their contribution. So, everyday, every minute while Britannians are at work, they MAKE Ti)NGS HAPPEN ! Follow us / Join us and witness this momentous experience called Britannia !
Website
http://www.britannia.co.in
External link for Britannia Industries Limited
Industry
Food and Beverage Services
Company size
1,001-5,000 employees
Headquarters
Bengaluru, Karnataka
Type
Public Company
Founded
1892
Specialties
Biscuits, Cake & Rusk, Dairy, and Breads
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Britannia Industries Ltd. Overview..
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2024-04-17T12:32:09+00:00
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Business Analyse..
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https://ratanbose.substack.com/p/britannia-industries-ltd-overview
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Britannia Industries Ltd (BRITANNIA | 500825 | INE216A01030)
Sector - Fast Moving Consumer Goods
Industry - Consumer Goods
Market Cap ₹ 1,14,188 Cr.
High / Low ₹ 5,386 / 4,230
Britannia Industries Limited (BIL) is one of India's leading FMCG companies with a 100 year legacy. company journey began in 1892 when a group of businessmen in Kolkata, formed a company to manufacture biscuits with an investment of Rs. 295. Today, it is among the most trusted food brands in India. Britannia’s product portfolio includes biscuits, bread, cakes, rusk, and dairy products, including cheese, beverages, milk, and yogurt. It is the largest brand in the organised bread market.
In 2023, the Company launched Nutri choice Seeds, Herbs & Protein Cookies and transformed Nutri choice Essentials and Digestive with 100% Atta; launched Biscafe, a thin cracker which is designed as a great accompaniment to coffee; launched Winkin' Cow Brand and invested in aseptic PET drinks technology; launched Centre-filled Croissants under the brand `Treat' .
During the year 2022-23, the Company commissioned Dairy Plant at Ranjangaon Food Park, Maharashtra; commissioned two large greenfield factories in Tamil Nadu and Uttar Pradesh; expanded Khurda and Ranjangaon Factories with biscuit and rusk lines.
The category in which Britannia plays is Rs 1 lakh crore in size and that has grown at a CAGR of 11% in last 5 years
Direct reach has grown substantially to 26.8 lakh outlets in fiscal 2023 from 7.3 lakh in fiscal 2014.
Number of locations where plants and/or operations/offices of the entity are situated:
*Out of 19 owned plants, only 16 are considered under the scope of this report. The remaining 3 plants were established during the reporting period and therefore, full year data is not available.
• The products of the company are exported to over 70 countries across the world. •
* The contribution of International Business to the consolidated Turnover is ~ 5.6% for the FY 2022-23 and in India the contribution is ~94.4% of turnover.
*Presence of Britannia in rural area is ~37% and in urban area it is ~63%.
Here are the topmost competitors for Britannia although it is a globally recognized brand with a lot of interesting marketing strategies:
Parle Products: Parle is one of the largest and oldest biscuit manufacturers in India, known for its wide range of biscuits and confectionery products. It’s a major competitor to Britannia in the biscuits segment.
ITC Foods: ITC is a diversified conglomerate with a strong presence in the FMCG sector. It competes with Britannia in various categories, including biscuits, snacks, and packaged foods.
Amul: Amul is a major player in dairy products and packaged foods. It competes with Britannia in the dairy segment and certain packaged foods.
Nestlé: Nestlé is a global FMCG giant with a range of food and beverage products. In India, it competes with Britannia in categories like breakfast cereals and dairy-based products.
Mrs Bectors food Specialities Ltd.: Mrs. Rajni Bector started the enterprise in 1978 by manufacturing ice creams, bread, and biscuits.
Ambo Agritec Ltd. : Incorporated in 1994, Ambo Agritec Limited is a Kolkata-based company manufacturing Biscuits, Edible Oils, Vanaspati, Bengali Speciality Products, and involved in trading of Crude Linseed Oil, and Soybean Meal.
BAKERY BUSINESS
Biscuit
India is considered as the third largest producer of Biscuits after USA and China, the per capita consumption of biscuits in our country is only 2.1 Kg., compared developed country. India biscuits market size was estimated at USD 3.19 billion in 2022. During the forecast period between 2023 and 2029, the India Biscuits market size is projected to grow at a CAGR of 4.13% reaching a value of USD 4.078 billion by 2029.India is the second-largest producer of biscuits (cookies) in the world after the USA.
The biscuit consumption occasions during the year stood at 303 in 2018 and that has gone up to 370 in 2023.
The immediate threat in this category is from the sustained inflation in commodity prices and increasing competition.
The India bakery products market was worth USD 7.5 billion in 2020 and is projected to reach USD 13.0 billion by the year 2027, growing at a CAGR of 8.3% in the forecast period.
CAKE
The Indian cake market is projected to witness a CAGR of 12.5% during the next five years. (Source: Mordor intelligence). The consumption of bakery items has increased over the last few years and exists a significant opportunity to expand market share through innovative value-added products.
This category is still not as well penetrated as biscuit category and there exists a significant opportunity to expand market share through innovative value added products
High commodity inflation and concentration of innovation at entry level price points remains a primary challenge for the category.
RUSK
According to estimates the rusk market in India stands at Rs 900 crore, and as much as 60 per cent of it is unorganised. Britannia has a 15 per cent share of the rusk market.(source: Business Standard,2013) . This category holds enormous promise and offers opportunities for growth to companies with national presence, due to its fragmented and unorganized nature.
Expanded its manufacturing capabilities with addition of Biscuit and Rusk lines in Khurda and Ranjangaon Factories.
The possibility of reduced consumption and consumer preference for local players in an inflationary environment is a major threat to this category.
BREAD
The Indian bread market is sized at USD 9.7 billion in 2022, growing at a CAGR of 6.1% over the past 5 years. The total consumption of bread has amounted to 9.56 million tons, jumping from 7.14 million tons in 2017.
Around 85% of breads in India is consumed by lower mid income and EWS households. There are significant opportunities to grow in this category by offering healthy and value-added products and expanding in newer geographies.
Increasing competition and continued inflation in key commodities pose challenges to the Company’s business.
DAIRY BUSINESS
The India dairy market size is projected to grow from 124.93 billion in 2023 to 227.53 billion by 2030, at a CAGR of 8.94% during the forecast period. India continues to lead the world in milk production accounting for ~22% of the global production. Within the Indian Dairy Industry, the organized segment, which constitutes about 33 to 34% (by value), has seen faster growth compared to the unorganized segment.
The dependencies in milk procurement and manufacturing through co-packers continues to be the major challenge for Company in this category. The continuous increase in milk prices as well as the increasing trend in input prices such as labour and raw material also pose major challenges to this business.
TREAT CREME WAFERS
Wafers is a highly unorganized & fragmented category with a market size of ~900 Crores and healthy annual growth.
Company is well placed to grow rapidly and lead this category on the strength of its brands, innovation and national presence
SALTED SNACKS
According to a report published by market research company IMARC Group, the Indian snacks market size was Rs 42,694.9 crore in 2023 and is expected to reach Rs 95,521.8 crore by 2032, exhibiting a growth rate (CAGR) of 9.08% during the forecast period. (source: Financial Express).
The Company perceives significant opportunities for growth by leveraging its established brands like Time Pass and innovation in the emerging premium segments.
Expenditure on R&D
Total R&D expenditure as a % of sale of goods is 0.30%.
Benefits delivered as a result of above R&D initiatives.
Company has reduced ~1.8% of sugar and ~7.8% of sodium .Launch of Nutrichoice biscuits made of 100% Atta. Company transformed ~72% of its laminate as recyclable laminate.Company's R&D initiatives and capabilities has led to launch of 24 innovative products .
Financial Performance:
Annual Revenue rose ~15.32%, in the last year to ₹16,301 Cr. Its sector's average revenue growth for the last fiscal year was 12%.
Annual Net Profit rose 52.77% in the last year to ₹2,316 Cr. Its sector's average net profit growth for the last fiscal year was 5.68%.
Quarterly Results :
Quarterly Revenue rise 1.41% YoY to ₹4,256 Cr. Quarterly Net profit fell 40.34% YoY to ₹556.39 Cr.
Price to Earning Ratio is 52.9, lower than its sector PE ratio of 52.9.(screener)
Promoter Pledges are zero.
Debt to Equity Ratio of 0.98 is less than 1 and healthy. This implies that its assets are financed mainly through equity.
Britannia has added 3 manufacturing lines in addition to the 1 existing line in south India. This will help to deliver good quality and efficiency.
Britannia commercialized its cheese line in January 2024.Company has plan to further expand its Bihar factory ( 2 factory in Bihar.)
Britannia uses the 21C oven , which is fuel agnostic and giving flexibility to choose fuels depending on fuel prices.
The cheese business is growing, fueled by innovations and partnerships, aiming to develop a sizable INR 1,000 crore consumer business over the next five years.
The e-commerce segment has grown to 2.9% to 3% of total business, showing positive growth from a starting point of 1% a few years prior.
Inflation is down, with nominal growth at 8% and inflation at 0.2% in the quarter. Britannia plays in a market worth INR 1,00,000 crores, with a 5-year CAGR of 11%. The total branded F&B category is INR 9,00,000 crores, with a 5-year CAGR of 12%. The total F&B market is INR 40,00,000 crores, with a 5-year CAGR of 11%. (concall report Nov 2023)
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https://www.business-standard.com/article/companies/britannia-plans-to-enter-new-overseas-markets-108012501078_1.html
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Britannia plans to enter new overseas markets
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"Neeraj Chandra",
"Tiger Banana"
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"Business Standard"
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2008-01-25T00:00:00+05:30
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Biscuit maker Britannia Industries is aiming to strengthen its international presence by entering new markets.
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https://www.business-standard.com/article/companies/britannia-plans-to-enter-new-overseas-markets-108012501078_1.html
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Biscuit maker Britannia Industries is aiming to strengthen its international presence by entering new markets. "Strengthening the business in the international market is our first priority and we would like foreign markets to grow substantially," said Neeraj Chandra, Britannia India vice-president - sales, marketing and innovation, at the launch of a new variant - Tiger Banana in New Delhi today. He also said that Britannia also plans to get into new geographies but did not give out details for the same. The company has already acquired, in early 2007, 70 per cent stake in Dubai-based biscuit and wafer manufacturing company Strategic Food International (SFIC) and a significant stake in the Oman-based Al Sallan Food Industries. The two companies are key regional players in the biscuit and cookies segment in the Gulf Co-operation Council markets and export their products across the world. SFIC offers over 55 varieties of biscuits, wafers and cookies with a product range of over 55 variants marketed in 70 countries spread over 6 continents. "SFIC deals in marketing and manufacturing other companies' products around the world and Britannia will also seek to benefit from the same," Chandra said. The company also formed a joint venture with the Khimji Ramdas Group, one of the largest business conglomerates in West Asia. Britannia hopes that this would help the company to grow its international footprint by leveraging on the complementary strengths of the partners. The company also plans to enhance synergies with its existing partners. Britannia also plans to focus on its dairy business, Britannia New Zealand Foods Company (BNZF), a joint venture with the Fonterra Co-operatives Group of New Zealand. BNZF has a diversified product portfolio covering cheese, skimmed milk powder, butter and ghee, and has a significant market presence in India as well. "Dairy is an important business for us and we will continue to build on that area," Chandra said. The company's turnover in 2006-07 was Rs 2,200 crore with around 90-95 per cent coming from the domestic market.
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Success Story of a Domestic brand INTRODUCTION: Britannia Industries is one of India’s leading food companies with a 100 year legacy and annual revenues in excess of Rs. 9000 Cr.
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https://www.linkedin.com/pulse/britannia-industries-ltd-iqra-khan
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Success Story of a Domestic brand
INTRODUCTION:
Britannia Industries is one of India’s leading food companies with a 100 year legacy and annual revenues in excess of Rs. 9000 Cr. Britannia is among the most trusted food brands, and manufactures India’s favourite brands like Good Day, Tiger and Marie Gold which are household names in India. Britannia’s product portfolio includes Biscuits, Bread, Cakes, Rusk, and Dairy products including Cheese, Beverages, Milk and Yoghurt. Britannia is a brand which many generations of Indians have grown up with and are cherished and loved in India and the world over. Britannia products are available across the country in close to 5 million retail outlets and reach over 50% of Indian households . It has a presence in more than 60 countries across the globe.
Brand Britannia is listed amongst the most trusted, valuable and popular brands in various surveys conducted by prestigious organizations like Millward Brown, IMRB, WPP Group and Havas Media Group to name a few.
EVOLUTION:
Britannia Industries Limited was established in 1892, with an investment of ₹265. Initially, biscuits were manufactured in a small house in central Kolkata. Later, the enterprise was acquired by the Gupta brothers mainly Nalin Chandra Gupta, an attorney, and operated under V.K Brothers. In 1918, C.H. Holmes, an English businessman in Kolkata, was taken on as a partner and The Britannia Biscuit Company Limited (BBCo) was launched. Biscuits were in high demand during World War II, which gave a boost to the company’s sales and gave a fillip to the company’s sales with a new corporate identity – "Eat Healthy, Think Better”. The company name was changed to the current "Britannia Industries Limited" in 1979.
MARKETING STRATEGY BY BRITANNIA :
Britannia uses a mix of demographic & psychographic segmentation strategy considering the population variables such as age, social class, education level, income level, marital status, and occupation.
To serve the different customer groups accordingly, it used differentiated targeting strategy.
Customers of Britannia are people from all age groups who prefer to have snacks and healthy delicacies on day to day basis.
Britannia has been aggressively penetrating in the rural markets through its Small SKU’s (Stock keeping units) and outlet coverage which doubled from 7.3 Lakhs directly reached outlets in Mar.,’14 to 15.5 Lakhs outlet in Mar.,’17.
Britannia has positioned itself as a brand caring for the consumers and serving healthy and delicious processed foods. It uses value-based positioning strategy. By changing its tagline, it renovated its brand image and started capturing urban Indian market slowly. Penetrating in rural and urban market was done by adopting different pricing strategies. Britannia Cake appealed to Urban population whereas 50-50 biscuit was successful in capturing the rural market.
Tagline- “Eat Healthy, Think Better”
PROMOTION STRATEGY BY BRITANNIA:
Biscuits are available to consumers, even in the most remote places and in the smallest of villages with a population of just 1500.
· Sales promotion-Small pack of 50-50 with Good day, free gift pack in festive season, rural marketing fair.
· Been a sponsor for many cricketers on Bats.
· “Events-Britannia Khao World Cup Jao” in 1999 promotion further fortified the affinity consumers had with the ‘Brand Britannia’.
· The Lagaan Match was voted India’s most successful promotional activity of the year 2001 while the delicious 50-50 Maska-Chaska became India’s most successful product launch.
DISTRIBUTION STRATEGY BY BRITANNIA:
Britannia Industries makes its products available to more than 70 countries globally while it has 81+ manufacturing units in India out of which 41 are Biscuit units, 13 dairy units, 12 bread units, 9 Rusk units and 6 cakes units.
Through these manufacturing units, Britannia makes 2.8 Cr packs per day which are distributed to more than 36 lakh outlets through 51 depots, 3700 stockists and 900 trucks per day.
Spread across the kith & kin of India, the brand has created high visibility in the market both Rural & urban areas.
The company competes in the market basis on factors such as extensive presence in the market through a distribution network, deep product assortments, and cost-effectiveness per unit, manufacturing facilities near the markets, quality workforce and innovative products. Some of the competitors of the company are AMUL, Hindustan Unilever, Priya Gold, Parle, Kraft Foods, Sunfeast Etc.
CONCLUSION :
Britannia believes that its brands are its business . Adequate investment in brands and focussing on customers, quality standards and differentiating products are the key factors .Strong orientation to brand/line extensions and innovation contribute to enhance the corporate brand. Also, catering to the emerging needs of customers helped boost brand loyalty. Distinctive and clear identity allowed Britannia to diversify into new categories and write a success story .
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Britannia Industries shares rise up to 10% on expansion of market share in Q4FY24
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2024-05-06T16:08:22+05:30
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The company’s total revenue from operations gained slightly by 1.14% to ₹4,069.36 crore in the final quarter of FY24 as compared to ₹4,023.18 crore in the year-ago period, while dipping significantly from ₹4,256.33 crore in the December 2023 quarter.
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Shares of the FMCG giant gained as much as 9.71% to an intraday high of ₹5,205.45 per piece on the NSE on Monday, after the company reported its financial results for the quarter and year ended on March 31, 2024.
The leading Fast Moving Consumer Goods (FMCG) manufacturer witnessed its stock price soaring to the highest level in three months despite declining over 6% so far in 2024. The stock climbed over 4.3% in the past week. The company’s market capitalisation has surpassed ₹1.22 lakh crore with the recent rally in the share price.
Britannia Industries reported a consolidated net profit of ₹536.61 crore for the quarter ending in March 2024, down 3.76% on a year-on-year (YoY) basis from ₹557.6 crore in the same period a year ago. The bottomline also fell from ₹555.66 crore witnessed in the preceding quarter.
The company’s total revenue from operations gained slightly by 1.14% to ₹4,069.36 crore in the final quarter of FY24 as compared to ₹4,023.18 crore in the year-ago period, while dipping significantly from ₹4,256.33 crore in the December 2023 quarter.
The FMCG giant’s operating margin also declined to 17.29% in the quarter ended in March 2024 from 18.38% in the same quarter of the previous fiscal year. On the other hand, the net profit margin dropped to 13% from 13.67% in the year-ago period.
However, despite poor numbers, Britannia Industries witnessed a revival in its market share during the March-ended quarter, led by the pricing action conducted by the company to remain competitive, along with increased investments in brands supported by distribution expansion.
The company’s executive vice chairman and managing director, Varun Berry stated in the earnings conference call that Britannia is expected to multiply its adjacent business revenues through route-to-market 2.0, which is set to take off in the second half of the ongoing financial year.
The mega-cap company has recommended a final dividend of ₹73.5 per share of Re 1 each for the financial year 2024, which will be declared at its 105th Annual General Meeting (AGM).
Shares of Britannia Industries closed 6.6% higher at ₹5057 apiece on the NSE.
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https://en.wikipedia.org/wiki/Britannia_Industries
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Indian food and beverage company
Britannia Industries Limited is an Indian multinational food products company, which sells biscuits, breads and dairy products. Founded in 1892, it is one of India's oldest existing companies and currently part of the Wadia Group headed by Nusli Wadia. As of 2023, about 80% of its revenues came from biscuit products.[4]
Beginning with the circumstances of its takeover by the Wadia Group in the early 1990s, the company has been mired in several controversies connected to its management,[5][6] but it continues to hold a large market share.[6][7]
History
[edit]
The company was established in 1892 by a group of British businessmen with an initial investment of ₹295.[8] Initially, biscuits were manufactured in a small house in central Kolkata. Later, the enterprise was acquired by the Gupta brothers, mainly Nalin Chandra Gupta, an attorney, and operated under the name, V.S. Brothers. In 1918, C.H. Holmes, an English businessman based in Kolkata, was taken on as a partner and The Britannia Biscuit Company Limited (BBCo) was launched. The Mumbai factory was set up in 1924 and Peek Freans acquired a controlling interest in BBCo. During the World War II, the government of British India needed a continuous supply of biscuits for British soldiers. The Britannia Biscuit Company started supplying biscuits to British Army for several years, and the company sometimes devoted 95% of its capacity to produce biscuits for the armed forces. Biscuits were in high demand during World War II, which gave a boost to the company's sales. The company name was changed to the current Britannia Industries Limited in 1979. In 1982, the American company Nabisco acquired the parent of Peek Freans and became a major foreign shareholder. In 1978, Britannia came out with its public issue, and its Indian shareholding had increased to 62%, which firmly established Britannia as an Indian company. The 38% foreign stake was owned by the UK-based Associated Biscuits International Limited (ABIL).[9][6]
In 1993, textile tycoon Nusli Wadia of Bombay Dyeing took control of the company from Britannia's then-chairman Rajan Pillai, with the help of French food giant Danone. In 2009, Wadia Group became the largest shareholder in BIL after acquiring a 25% stake owned by Group Danone.[5][10]
In December 2018, it launched a new category, Treat Crème Wafers.[11][12]
Britannia acquired a controlling stake in Kenya's Kenafric Biscuits in October 2022.[13] In September 2022, Varun Berry was appointed as Executive Vice-Chairman and Managing Director of Britannia Industries Limited, and Ranjeet Kohli was also appointed as Executive Director and CEO.[14][15]
In December 2022, Britannia Industries entered into a joint venture agreement with Bel SA of France and Britannia Dairy Private Limited (BDPL) to develop, manufacture and sell cheese products in India and other markets. Under the joint venture, Bel SA acquired a 49% stake in BDPL, a subsidiary of Britannia Industries, for ₹262 crore and infused an additional ₹215 crore in the joint venture.[16]
In August 2022, the company expanded its product portfolio by entering the western snacking market with the launch of its new product, Treat Croissant.[17]
Businesses
[edit]
The company's principal activity is the manufacture and sale of biscuits, bread, rusk, cakes and dairy products.
Biscuits
[edit]
As of 2023, about 80% of Britannia's annual revenue comes from biscuits.[4] Britannia has an estimated market share of 33% in the organised biscuits market in India.[4]
The company's factories have an annual capacity of 433,000 tonnes.[18] The brand names of Britannia's biscuits include MarieGold, Tiger, Nutrichoice, Good Day, 50 50, Treat, Pure Magic, Milk Bikis, Bourbon, Nice Time and Little Hearts among others.[18]
In 2006, Tiger, the mass market brand, realised $150.75 million in sales, including exports to the U.S. and Australia. This amounts to 20% of Britannia's revenue for that year.[citation needed]
Dairy products
[edit]
Dairy products contribute close to 10% to Britannia's revenue.[19] The company not only markets dairy products to the public but also trades dairy commodities business-to-business. Its dairy portfolio grew to 47% in 2000-01 and by 30% in 2001-02. Its main competitors are Nestlé India, the National Dairy Development Board (NDDB), and Amul (GCMMF).[20]
Britannia holds an equity stake in Dynamix Dairy and outsources the bulk of its dairy products from its associate.
On 27 October 2001, Britannia announced a joint venture with Fonterra Co-operative Group of New Zealand, an integrated dairy company which handles all aspects of the value chain from procurement of milk to making value-added products such as cheese and buttermilk.[20] Britannia intends to source most of the products from New Zealand, which they would market in India.[19] The joint venture will allow technology transfer to Britannia.[20] Britannia and the New Zealand Dairy each hold 49% of the JV, and the remaining 2 percent will be held by a strategic investor. Britannia has also tentatively announced that its dairy business (probably including Dynamix) would be transferred to the joint venture.[20] However, the authorities' approval to the joint venture obliged the company to start manufacturing facilities of its own. It would not be allowed to trade, except at the wholesale level, thus pitching it in competition with Danone, which had recently established its own dairy business.[20]
Disputes and controversies
[edit]
Wadia and Rajan Pillai
[edit]
Kerala businessman Rajan Pillai secured control of the group in the late 1980s, becoming known in India as the 'Biscuit Raja'.[21] In 1993, the Wadia Group acquired a stake in Associated Biscuits International (ABIL), and became an equal partner with Danone in Britannia Industries Limited.
In what The Economic Times referred to as one of [India's] most dramatic corporate sagas,[22] Pillai ceded control to Wadia and Danone after a bitter boardroom struggle,[23] then fled his Singapore base to India in 1995 after accusations of defrauding Britannia, and died the same year in Tihar Jail.[citation needed]
Wadia and Danone
[edit]
The Wadias' Kalabakan Investments and Group Danone had two equal joint venture companies, Wadia BSN and United Kingdom registered Associated Biscuits International Holdings Ltd., which together held a 51 percent stake in Britannia.[24] The ABIH tranche was acquired in 1992, while the controlling stake held by Wadia BSN was acquired in 1995. It was agreed that, in case of a deadlock between the partners, Danone was obliged to buy the Wadia BSN stake at a "fair market value". ABIH had a separate agreement signed in 1992 and was subject to British law.[24][25]
Wadia was to be Danone's partner in the food and dairy business, and product launches from Groupe Danone's were expected but never materialised despite the JV being in existence for over 11 years in India.[24] Under the 1995 joint venture agreement, Danone is prohibited from launching food brands within India without the consent of the Wadias.[26] In addition, the partners agreed there would be the right of first refusal to buy out the remaining partner in the event of the other wishing to sell its holding.[27]
In June 2006, Wadia claimed Danone had used the Tiger brand to launch biscuits in Bangalore.[27] In May 2007, Nusli Wadia told the Ministry of Commerce and Industry that Danone invested in a Bangalore-based bio nutrition company, Avesthagen, in October 2006 in violation of the government's Press Note 1, 2005, which requires a foreign company to obtain the consent of its Indian joint venture partner before pursuing an independent business in a similar area, including joint ventures based purely on technical collaboration. Danone argued that Press Note 1 did not apply to it as it did not have a formal technology transfer or trademark agreement with Avesthagen, and that its 25% holding in Britannia was indirect.[28] Wadia also filed a case in the Bombay High Court for a breach of a non-competition clause in that connection. The court ordered Danone not to alienate, encumber or sell shares of Avesthagen.[29]
In September 2007, the Foreign Investment Promotion Board of India rejected Danone's claims that it did not need a non-compete waiver from the Wadias to enter into business in India alone.[30]
After a prolonged legal battle, Danone agreed to sell its 25.48% stake in Britannia to Leila Lands, which is a Wadia group entity based in Mauritius, and quit this line of business. The deal was valued at $175–200 million. With this buy-out, Wadia holds a majority stake of 50.96%.[31]
Intellectual property dispute
[edit]
In a separate dispute from the shareholder matters, the company alleged in 2006 that Danone had violated its intellectual property rights in the Tiger brand by registering and using Tiger in several countries without its consent. Britannia claimed the company found out that Danone had launched the Tiger brand in Indonesia in 1998, and later in Malaysia, Singapore, Pakistan and Egypt, when it attempted to register the Tiger trademark in some of these countries in 2004.[32] Whilst it was initially reported in December 2006 that agreement had been reached,[33] it was reported in September 2007 that a solution remained elusive.[32] In the meantime since Danone's biscuit business has been taken over by Kraft, the Tiger brand of biscuits in Malaysia was renamed Kraft Tiger Biscuits in September 2008.
Britannia initiated legal action against Danone in Singapore in September 2007.[34] The dispute was resolved in 2009 with Britannia securing rights to the Tiger brand worldwide, and Danone paying ₹220 million to utilise the brand.[35]
Partnerships
[edit]
In March 2017, it formed a joint venture with Greek firm Chipita SA for producing and selling ready-to-eat croissants in India.[36] In September 2021, the company partnered with Accenture to digitize the company's manufacturing units and warehouses.[37] During the COVID-19 pandemic in India, it tied up with personal concierge startup Dunzo to deliver essential goods at the customer's doorstep in April 2020.[38]
Philanthropy
[edit]
The company has been engaged in various social and philanthropical activities. It has joined the United Nations Global Compact, the world's largest sustainability initiative, and has aligned with the Sustainable Development Goals (SDG). It supports the maritime insurance industry and provides assistance to shipowners in developing transitional methods to achieve the objectives of the Paris Agreement.[39] Britannia P&I is an associate member of the International Maritime Rescue Federation.[40]
It runs a non-profit Britannia Nutrition Foundation that advocates better child nutrition and addresses child malnutrition issues in India.[41]
Awards and recognition
[edit]
In 2022, the company was ranked 4th in the list of India's most chosen FMCG brands, as per Kantar India's annual Brand Footprint report.[42]
Britannia won the Global Sustainability Leadership Awards by the World Sustainability Congress in 2021.[43]
The Economic Times listed the company's Good Day biscuit brand as the Brand Equity’s Most Trusted Brands of Indians in 2019-20.[44]
The company was selected for special recognition under the Leading RE Investor category at Renewable Energy India Awards 2016.[45]
In 2014, the company was voted as Reader's Digest Trusted Brand in India under the food and beverage category, part of the Reader's Digest Trusted Brand Survey.[46]
In 2014, The Economic Times ranked the company at 11 in the 100 Most Trusted Brands of India list 2014.[47]
The company was listed in India's Most Attractive Brands 2013 in a TRA Brand Trust Report survey.[48]
It was awarded the Global Performance Excellence Award (GPEA) by Asia Pacific Quality Organization (APQO) in June 2012.[49]
It was ranked #2 in the Brand Equity's Most Trusted Brands survey by The Economic Times.[50]
In 2012, Britannia received the Golden Peacock National Quality Award – 2012 under the FMCG category.[51]
In 2011, Britannia won the Indian Merchants' Chamber (IMC)'s Ramkrishna Bajaj National Quality Award.[52][53]
In 2011, the company received the CII's National Award for Food Safety 2011 in the category of 'Large Food Businesses - Manufacturing' by the Confederation of Indian Industry.[54]
According to The Economic Times' Brand Equity Survey, the brand was ranked 5th in the top 10 most trusted brands list in India in 2010 and 2nd in 2012[55] in India's top 10 most trusted brands list.[56]
Britannia is one of India's 100 Most Trusted brands listed in The Brand Trust Report.[57]
Indian Super League (2018–present)
See also
[edit]
Companies portal
Parle Products
References
[edit]
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Understand Why Britannia Industries Share Is A Growing Investment
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[
"Vineet Patawari"
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2024-01-30T16:15:49+05:30
|
Understand the elaborative performance of Britannia Industries Share and get to know about its market position and how it provides past profit to its investor.
|
en
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StockEdge Blog
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https://blog.stockedge.com/britannia-industries-share-analysis/
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Britannia Industries Ltd. is an Indian Fast-Moving Consumer Goods (FMCG) company, previously recognized as “Britannia Biscuit Company Limited.” It originated during the pre-independence period in Calcutta, founded by a British entrepreneur in the year 1892. The company is currently owned by the Wadia group, headed by Nusli Wadia, an Indian billionaire businessman.
In the course of World War II, the British Indian government necessitated a consistent provision of biscuits to cater to the requirements of British soldiers. Hence, the company was established. As of today, Britannia Industries manufactures and sells biscuits all over the world. Being a public limited company, Britannia Industries shares have been listed on the National Stock Exchange (NSE) since 1998. Additionally, it is a part of the market benchmark index Nifty 50.
In today’s blog, let’s find out whether to invest in a century-old biscuit company. Britannia Industries shares have given more than a 1000% return in the last 10 years. Is it still worth investing in Britannia shares? Here is a complete fundamental analysis of Britannia Industries’ share.
Company Overview
Britannia Industries Ltd stands as one of India’s oldest food product companies and holds a significant position in the country’s biscuit industry. While the majority of its revenue is generated from the biscuits segment, the company has expanded its presence into various other sectors, such as bread, dairy products, cakes, snacks, milkshakes, croissants, wafers, and rusks. Some of its prominent brands include Good Day, Marie Gold, Tiger, Nutri Choice, Milk Bikis, and others. Operating with a total of 23 factories (19 national and 4 international), Britannia also exports its products to over 79 countries spanning the Middle East, North America, Europe, Africa, and Southeast Asia.
Here is the revenue mix of the company as of FY 23:
As you see, 77% of the revenue comes from the biscuits segment, while the rest comes from bread, dairy products, cakes, etc. Also, geographically, 95% of revenue comes from India and the remaining 5% is from other countries globally.
Sectoral Outlook – FMCG Sector
The overall size of the Food & Beverages market in India is estimated at USD 800 billion. Within this, the packaged food market constitutes USD 100 billion, with the branded packaged market accounting for USD 40 billion. This indicates significant potential for expansion. Presently, India lags behind China in the packaged food industry by 4.2 times and other Southeast Asian nations, such as the Philippines, by 3.3 times, highlighting substantial room for growth in this sector.
The shift from an unorganized to an organized segment within the industry is expected to persist in India in the upcoming years. Changing consumer preferences and a growing inclination towards adopting branded products in small towns and villages contribute to the expansion of Fast-Moving Consumer Goods (FMCG) companies.
Financial Highlights
Analyzing financial statements such as income statements, balance sheets, and cash flow statements helps investors assess the company’s ability to generate returns, manage debt, and sustain growth, enabling informed and prudent investment choices.
Income statement of Britannia Industries Ltd.
The income statement, commonly known as the profit and loss statement, gives you an understanding of its financial performance, such as its sales growth, profitability, etc.
At StockEdge, we have organized the income statement in a way that will help you analyze it with ease rather than going through the conventional way of downloading the documents from the stock exchanges, which could be time-consuming and tiresome to many.
In the above image, you can see the annual income statement of Britannia Industries. Every detail is in front of your eyes, starting from the top-line sales figures to the bottom-line Net profit of the company.
Sales Growth
Although there was a 15% year-on-year increase in sales during the fiscal year 2023, the initial half of fiscal year 2024 recorded net sales of ₹8,444 crore, reflecting a 4% year-on-year growth with no change in volume. The positive performance of the international business was overshadowed by a slowdown in rural areas and increased competition from local players in the domestic market, affecting the overall growth.
EBITDA Growth
In H1 FY24, EBITDA was ₹1,561 cr, a growth of 29% YoY due to its cost efficiency programs across all functions so as to remain the lowest cost operators in its categories. Nevertheless, there is a simultaneous effort to boost advertising and sales promotion initiatives, aiming to support its brands and foster innovation within the business.
PAT Growth
In the initial half of fiscal year 2024, the Profit After Tax (PAT) amounted to ₹1,040 crore, demonstrating a 12% year-on-year growth. This growth was facilitated by an enhanced operating profit and increased other income. However, the overall growth was somewhat affected by elevated depreciation and interest costs.
Balance Sheet of Britannia Industries Ltd.
The balance sheet follows the accounting equation: Assets = Liabilities + Equity. It provides a company’s financial position, stability, and overall health.
In the above image, you can see the balance sheet of Britannia Industries Ltd. It provides an overview of the financial position as on date. What are the assets and liabilities of the company? Liabilities of a company can be both short term and long term.
As of 30th September 2023, total debt stood at ₹2,761 cr v/s total debt of ₹2,981 cr as of 31st March 2023. Post the COVID era, the company’s overall debt went up, but compared to its total assets, the liabilities are reasonable.
Cash Flow Statement of Britannia Industries Ltd.
A cash flow statement provides a summary of how a company generates and uses cash over a specific period of time. It has three different sections:
Operating cash flow statement
Financing cash flow statement
Investing cash flow statement
Out of these the most important one being the cash flow from operations as it provides you with an understanding of how the company generated cash from its core business operations. A positive cash flow from operation signifies that the company has generated higher cash revenue than its expenditure.
In FY 2023, the Cash Flow from Operations (CFO) amounted to ₹2,526 crore, a significant increase from ₹1,300 crore in FY22. This improvement was driven by enhanced operating profit and adjustments in working capital.
Cash Flow from Investments (CFI) experienced an outflow of ₹1,517 crore, attributable to the acquisition of current investments, inter-corporate deposits (ICDs) extended to group companies, and the procurement of property, plant & equipment.
On the other hand, Cash Flow from Financing (CFF) showed a lower outflow compared to the previous year, as the company secured long-term debt amounting to ₹1,010 crore.
Ratio Analysis of Britannia Industries Share
Ratio analysis of a company involves evaluating a company’s financial performance by examining certain ratios which are derived from its financial statements. It makes easy comparing the financial performance to its industry benchmarks or competitors.
Ratio has different classifications like profitability ratios, solvency ratios, return ratios and more as you can see in the image below, you can analyze all such ratios directly from StockEdge.
Here are the return ratios of the Britannia Industries share, starting with the two most important ratios which are ROE and ROCE.
What is ROE and ROCE?
ROE is a profitability ratio that measures the company’s ability to generate net income as a percentage of shareholders’ equity, whereas ROCE assesses the efficiency of a company in utilizing its total capital, including both equity and debt.
Return on Equity (ROE)
In FY 2023, the Return on Equity (ROE) reached 76.04%, primarily driven by substantial profit growth. This increase in profit was supported by an exceptional gain of ₹376 crore.
Return on Capital Employed (ROCE)
The robust ROCE of 55.50% in FY23 signifies the efficiency with which the company utilized its capital to generate operating profits. This improvement reflects the company’s effective management of its resources and a positive impact on overall financial performance.
Debt to Equity Ratio (D/E Ratio)
In FY 2023, the company’s debt-to-equity ratio was approximately 0.84x. This ratio indicates that the company had a moderate level of financial leverage. A debt-to-equity ratio of less than 1 is generally considered favorable as it suggests a lower financial risk and indicates a more conservative capital structure.
Price to Equity Ratio
As of the latest data, Britannia Industries is trading at a Trailing Twelve Months (TTM) Price-to-Earnings (PE) multiple of 49.45x. The elevated PE multiple is likely a result of Britannia’s strong brand recall and its leadership position in the domestic market.
The PE multiple reflects the market’s confidence in Britannia’s growth prospects and its ability to capitalize on opportunities in the evolving market conditions.
Management Quality & Shareholding Pattern
The leadership is directing efforts towards implementing localized strategies, consistently innovating products through renovation, introducing new items, and revamping existing ones. Additionally, there is a focus on expanding into related product categories alongside a concerted effort to enhance direct distribution channels and strengthen the company’s presence in rural areas. Management expects the rural segment to improve to 35% of total revenue in the next few months.
Coming to the shareholding pattern of Britannia Industries share, you can check it from the StockEdge App itself.
The promoter shareholding continues to remain at 50.55%. FII decreased their stake from 21.29% in Q1 FY24 to 19.66% in Q2 FY24. DII increased their stake from 12.46% in Q1 FY24 to o 13.85% in Q2 FY24.
The changes in shareholding patterns indicate a dynamic shift in investor interest in Britannia Industries shares as both FIIs and DIIs strategically adjust their positions. Notably, the unwavering promoter’s stake emphasizes a consistent and resolute dedication to the company’s growth and performance.
Future Outlook of Britannia Industries Share
The company maintains its commitment to four key strategic pillars: distribution and marketing, cost leadership, innovation, and sustainability. The overarching goal is to achieve well-rounded growth encompassing margin, revenue, volume, and market share. Over the next five years, the company anticipates increasing the contribution of its non-biscuit portfolio to approximately 35% of total revenue, up from the current 23%. Furthermore, there is an ambition to scale the dairy segment to ₹2,000 crore within the same timeframe. These initiatives underscore a comprehensive approach to business development and diversification.
Case Study on Britannia Industries Share
We have a case study report prepared by our team of analysts. This fundamental report on Britannia Industries shares provides you with a detailed analysis of the company as well as how it stands among its competitors.
As you can see, Britannia Industries Share has rating based on 6 parameters:
Growth
Quality
Profitability
Efficiency
Solvency
Valuation
Based on the above parameters, Britannia Industries Share scored 21/30. Read the case study report on Britannia Industries Share.
Conclusion
In conclusion, Britannia Industries emerges as a compelling long-term investment opportunity. With a solid foundation anchored in strategic pillars such as distribution, cost leadership, innovation, and sustainability, the company demonstrates a robust commitment to balanced growth. The resilience of its promoter shareholding, coupled with evolving investor interest, reflects confidence in the company’s trajectory. Britannia’s ambitious targets, including expanding its non-biscuit portfolio and scaling its dairy segment, further position it as a forward-looking player in the market. As it continues to navigate dynamic market conditions, Britannia Industries stands out as a promising choice for investors seeking enduring value and growth in their portfolios.
Apart from Nestle India stock, there are other stocks which are part of the Nifty 50 index. Read this blog All About NIFTY50, Components of NIFTY50, and How to Invest in it.
Happy Investing!!
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https://britanniapandi.com/about/sustainability/
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en
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Britannia Sustainability
|
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2022-10-22T07:12:50+00:00
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Britannia is working toward a sustainable future to benefit of our membership and society as a whole with a number of the United Nation’s Sustainable Development Goals (SDGs). Annually Britannia issues a sustainability report addressing Environmental, Social and Governance (ESG) issues
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en
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Britannia
|
https://britanniapandi.com/about/sustainability/
|
Sustainability
Britannia is committed to working towards a more sustainable future to the benefit of our membership and society as a whole. We have aligned our strategy with a number of the United Nation’s Sustainable Development Goals (SDGs) and embedded these across our organisation as part of our business model and conduct.
Annually Britannia issues a sustainability report which provides an update on the proactive actions Britannia has taken to date in addressing Environmental, Social and Governance (ESG) issues and those it is committing to in the future. Furthermore, as part of our commitment to promote sustainability, we have produced a sustainability report template for our membership and other third parties to use. The template is designed to be generic recognising that each company will have a different approach to sustainability which reflects their unique commercial and regulatory needs.
THE SUSTAINABLE DEVELOPMENT GOALS
We believe that the following SDGs are key to ensuring the future sustainability of Britannia P&I and therefore have been embedded into our business strategy:
SDG 3 – ‘GOOD HEALTH AND WELLBEING’ with an emphasis on the care and protection of our employees and also crews on board our Members’ and other’s ships.
SDG 8 – ‘DECENT WORK AND ECONOMIC GROWTH’ with an emphasis on the work to improve the marine industry with our peers in the IG.
SDG 10 – ‘REDUCED INEQUALITIES’ with an emphasis on employee diversity and inclusion.
SDG 13 – ‘CLIMATE ACTION’ focusing on managing the risk of our potential enhanced liability through a transition to a low carbon economy and climate change resulting in further severe weather.
SDG 14 – ‘LIFE BELOW WATER’ with an emphasis on crisis management and pollution prevention in the air, sea and on land.
SDG 16 – ‘PEACE, JUSTICE, STRONG INSTITUTIONS’ with an emphasis on corporate governance, robust and auditable policies, and transparent procedures and reporting together with the elimination of corruption in the marine industry.
SDG 17 – ‘PARTNERSHIPS TO ACHIEVE GOALS’ with an emphasis on participation in the mutual risk sharing of the International Group and collaborating to provide a leading industry voice.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
Britannia and its Managers, Tindall Riley, undertake a wide range of volunteering activities in the local community throughout the year, as well as supporting a number of charities through corporate giving and donations. Britannia supports both charities and charitable initiatives in our local community, as well as charities dedicated to supporting seafarers. More information can be found here.
SUSTAINABILITY REPORTS AND TEMPLATES
View Britannia’s annual sustainability reports and report template here.
CONTACT
Britannia’s sustainability lead is Jacob Damgaard, Associate Director, Loss Prevention.
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https://www.alphaspread.com/security/nse/britannia/earnings-calls/q1-2025
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en
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Britannia Industries Ltd NSE:BRITANNIA
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[
"Varun Berry executive",
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Britannia Industries Ltd (NSE:BRITANNIA) Q1-2025 earnings call transcript.
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AlphaSpread.com
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https://www.alphaspread.com/security/nse/britannia/earnings-calls/q1-2025
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Good morning, everyone. Thank you for joining the call. So let me just jump in straight off to Slide #3. Good news on the consumption front. The quarter has been -- the growths on value and volume have been about the same at about 6.6%, 6.5% for the FMCG industry. The rural growths are starting to come back, which is -- which had been lagging, urban, for some time, and that's something which will help us overall get better growth. So the reason for the same are obviously better monsoons, moderate inflationary conditions as well as employment, some employment data, which is showing that rural employment is at an all-time high. So things are looking a little better, still not out of the woods completely, but definitely better than what -- where we were. Going to the next slide, the performance scorecard for Britannia. We did -- our revenue from operations were INR 4,130 crores, which was a 4% growth on a 12-month basis and a 13% growth on a 24-month basis. Our operating profit was at 16.5%, which was at a 10% growth on a 12-month basis and a 51% growth on a 24-month basis. So I would say good results in the current environment. Our market share on the next slide is also looking good. Our trend continues. We've continued to gain share, and we are hoping that we will be able to keep that track going. Our strategic pillars, which you're all aware of, distribution, marketing, innovation, growing adjacencies, cost efficiencies and sustainabilities. Let me take you through each one of these and where we stand on these. So driving efficiencies in distribution, our direct reach is now at 28.2 lakh outlets. Our uptick in rural distribution, we've gone up to 30,000 rural distributors. And if you look at our rural performance, it's a better performance than what it is for urban, which is good. As we've seen, there's a little revival in the rural economy as well. So we are keeping our credo of going -- getting equal share in rural as we have in urban. As you know that we have a higher share in urban than we have in rural. So we are keeping that going. And the next slide is about our sales transformation. This is basically a complicated chart, but you've just got to remember what we are trying to do. We are trying to do real-time data for all of us in the system. What this has done is this has increased the face time of the distributor salesmen, which is up 42%. So they are on their handheld, and they are getting real-time data all the time. All our outlets, which are directly handled through our distributors are geo-tagged. And as a result of that, the time spent in the market by our salesmen is also up. If you were to look at what we are doing on our Route to Market, which is going on with Bain, basically, what we are trying to do is leverage our high potential outlets to make sure that all of our key categories and SKUs are available in these outlets. We are looking at upscaling our salesmen capability in these high potential outlets.
We're also looking at upgrading technology for better productivity. And there will be an increase in the number of salesmen, which is mentioned as increased feet on street. Now we've already started -- the project has been on for about a couple of months. And we've already started some pilots in the top metros to validate what is going to work for us in the long run. We are banking a lot on this project, and hopefully, this will be able to give us great results in the future. On the next slide, which is Slide #10. If you look at our capabilities in organized channels, if you look at the first quarter, we've seen much higher growths for our adjacency business as well as our new businesses in the modern trade or the organized trade channel. The building blocks of which have been a very agile supply chain, which is focusing on fill rates; a modern marketing, which is based on social media, digital, et cetera; upskilling of our salesmen; and best-in-class service levels for our customers. Next slide, Slide #11, building -- we've been continuously building on our business as far as e-commerce is concerned. We know that it's an important channel, albeit small for us right now, but it's a test bed for innovation and new categories. We can do precision targeting with real-time consumers, product ideas, which are based on social media trends as well as consumer feedback and reviews and ratings. It's a channel which can be used by us for a lot of our current premium products as well as making sure that we do products, which are actually what the consumers are looking for. And this is giving us good results. We've been seeing great growths in this channel. So hopefully, it's today at -- we been at about, what, 4% of our total sales?
No, absolutely. So we are not interested in the B2B business because that disrupts our distribution efforts. So we are purely concentrating on the B2C business, as Vipin said.
Okay. Moving on to the next slide, which is Slide #12. We've made some sustained investments in brands to drive consumer engagement. As you know that the biscuits brand was a slightly more traditional marketing category, what we are trying to do is we are trying to make it a little more alive with more, let's say, interesting products as well as interesting marketing ideas, which are more alive to what's happening today. And we've done that with Britannia Khao, Paris Jao on some of our brands. We also did it with Jim Jam Pops, where we launched the victory biscuit when the Indian cricket team won the T20 World Cup in Bombay. And similarly, a lot of other interesting initiatives which the marketing team has led on Good Day, on Little Hearts, NutriChoice. Next slide, some of the other marketing initiatives and adjacency areas. We've had Rusk advertising on the Jio Mobile app. We've had the Cow Corner for Winkin' Cow during IPL, which was a very interesting idea. And other IPL campaigns, which we did on some of our other products, and tactical consumer promotions, which we run across our portfolio of brands. Next slide, Slide #14. We've been recognized for the efforts because Amit and team have brought a differentiation to the way we've looked at marketing, and they've been rewarded by -- they got the Brand of the Year in the Shark Awards. Out of home, we were the #1 brand. In home, we were the #2 brand, et cetera. It's good fuel for the team that's doing so much of interesting work. And the next slide is on innovation. We've launched Pure Magic Stars, which is a very interesting product. And we've -- the jury is still out. It's just launched in the market, so it will take some time for us to tell you how it's doing, but it's been really appreciated by consumers. We've also launched 5050 Golmaal, which is a variant of the earlier product that we launched. This is a butter garlic. And these are all doing well. The in-market products are the base Golmaal, JimJam Pops and Butter Jeera, which was done only for modern trade, and these are doing quite well. We've got a very robust innovation pipeline, which will cater to the regional preferences and drive premiumization within our portfolio. Next slide is on adjacency. We have seen a resurgence in our adjacency business. The Fudge It product has been doing extremely well. Croissants have been doing very well. Our Rusk and Millet Breads have also done well for us. Similarly, on cheese and on drinks, drinks have been a good story for us, especially Lassi. So we've been doing better than what we were doing. Still a lot of hard work for us to be able to get to 1.5x the growth of the base business, but we are working towards that. Our international business has also been doing really well with good profitability. And Nepal is a validation of our strategy of seeding products and then establishing our manufacturing footprint in the country. This business used to be a INR 20 crore business. And today, we are at what, Venkat, about INR 180 crores in Nepal?
INR 170 crores, INR 180 crores business in Nepal. So we are doing well, and there are some other countries where we are also looking at the same strategy to be able to establish ourselves so that we don't burn the bank. At the same time, we established a footprint in these countries through a slow and steady strategy. On our cost leadership across verticals, our strategy remains the same, truck upsizing with full utilization, distance traveled by our products, digital adoption, renewable energy, fuel consumption and our line throughput. And in '24-'25, we will be at 8 times what we started in '13-'14. So this continues. We continue to target 2% of cost efficiencies every year. Moving on, just to give you an idea of our manufacturing footprint. It's a very interesting footprint with 54 factories located across the country, 16 of these are our own factories, which give us 65% of the total requirement that we have across the country. We have third-party factories, which are 38. We've got 154 manufacturing lines, out of which 81 are in our own factories with annual capacity I've already spoken about. Now we are -- we've got a mega food factory, which is in Ranjangaon. We've got fully integrated factories in -- which have got 4-plus lines and have more than 1 category. And then we've got small factories, which give us the ability to be nimble. So we've got a very robust and a very solid manufacturing footprint, which is holding us in good stead in the current times. Just a quick look at Ranjangaon Dairy operations. So we are now collecting about 300,000 liters of milk in Ranjangaon. Out of which, 90,000 liters -- and we are scaling up this 90,000 every month, 90,000 is directly through our partner farmers. These are about 3,300 farmers across 105 villages with 70 milk collection centers that are created in and around our factory. We do a lot of developmental initiatives, which is farmer training programs, animal health camps. And we also provide quality fodder and seeds to our farmer friends. Our program results have been that we've improved farmer retention to now 95%. Our farmer yields are up 13% over the last 2 years, and we've had improved quality of milk that we receive at our factory. We've now got a processed cheese plant, which is commercialized. We are doing cheese blocks. We are doing cheese cubes, cheddar cheese. We're doing slices. So -- and we are looking -- we've got a quick scale-up across formats and our product quality today is much better than what it is. We are working on making sure that we leverage the technology that we put in our factory to get much better productivity than what we've got in the past. I just wanted to give you an idea of this operation because I thought it was important. Next slide is on ESG. You know the 4 building blocks that we have: people, growth, governance and resources. We continue to work on these. We've been recognized as the best 3 sustainability initiatives of the year in 2024 at the Global CSR & ESG Awards, which was conducted by Brand Honchos. The key initiatives included water stewardship program, sustainable packaging, employee wellbeing and development, community development programs. And we also were -- we also did Har Pocket Ab Dustbin program. The campaign was in Q1 of this year. And we continue to do our employee volunteering program, which is on plastic waste collection across our factories and across our offices. We won some awards, which I won't dwell on, but I must compliment the ESG team from -- bringing us from being at the bottom of the pack to where we are today, and we hope to be right at the top in this in times to come.
Now getting to cost and profitability. Slide #22, commodity costs are going up marginally. Flour costs are up. Sugar costs are up. Palm is the balancing factor. Cocoa is through the roof. The cocoa costs are completely through the roof. Laminate costs, so the 2 -- 3 costs which are balancing out flour, sugar and cocoa are palm, laminates and corrugated boxes. One that is not here is also milk. While milk powder is okay until now, but milk costs are up. So in times to come, SMP costs will also be up. So we are seeing a trend of prices going up marginally. But these are -- this is inflation that we can manage, and we are hoping that it remains within that manageable range. Next slide is on what we are looking at. We are stepping up investments on brand and innovation. We've actioned pricing actions wherever necessary to drive -- to make sure that we remain competitive, and we've also delivered cost efficiencies across all our functions. We are closely monitoring the commodity situation, and we are assessing its impact. I think it's important that we balance the commodity increases as well as the competitive pricing actions, and we've done it quite well until now. Our strategy will remain to focus on driving market share and our top line growth, which have been evading the Indian FMCG industry for some time.
Getting to the financial results. So I've already spoken about this. So we've grown 4% as far as topline is concerned on a 12-month growth basis and 13% on a 24-month basis, with a revenue of INR 4,130 crores.
Next slide is on operating profit. Operating profits are at INR 680 crores, which is 16.5% of our net revenue. Growth of 10% on a 12-month basis and a 51% on a 24-month basis. Getting to the ratios, net sales, up 4%; operating profit, up 10%; profit before tax, up 13%; profit after tax, up 14%. These are all before exceptional items. And the ratios are at the bottom. Profit from operations, 16.5%. Profit before tax, also at 16.5%. And PAT at 12.2%. So that's all I have for you. Let me open the doors for questions. Over to you.
Yes. So, Shirish, there are 2 parts to the slide. The left side is done internally. For the last 5 years, we've been building this backbone, which is right from our distributor management system to handheld, which is today AI-driven, then we have got a continuous replenishment system, which connects to the depot. And then there is geo-tag and geo-fence.
And then even in rural, what we have done is that more than 60% of orders are today captured through the digital app, right? So this is what we have done internally. 8, 9 months back, the feeling was that we have done this internally, but we need to get this outside in perspective. And that is where Bain & Co was on-boarded, right? So we -- so like Varun mentioned, previously, it's only been 2 months. We have started slicing the data. We are discovering that there is a lot of scope, especially in the top end of the book, and the pilots have just started. So today, no shift attributable to this new project has come. What we are saying is that in this quarter, next 2, 3 months, we are piloting different concepts, and probably the tangible gains will start coming in quarter 4 of this year or quarter 1 of FY '26. So right now, this is -- because this is a very large project, there is a lot of data, there's a lot of market types. So the next 2, 3 months is when we are doing a lot of pilots, testing out what's the concept and then blueprinting and then will be the phase of scale-up and getting the tangible benefits.
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Britannia Contact Us: Call or Message Us For Queries
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Contact Us For any Britannia Related Queries. Britannia Helpline responds within 24 hours for any Brand Related Query.
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https://www.britannia.co.in/
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EMPLOYMENT VERIFICATION OF EX-EMPLOYEES OF OUR ORGANIZATION - VERIFYING AUTHORITY
We would like to inform that HR Operations team is the verifying authority for all employee data related to Employment Verification of Ex-employees. For any such verification mails please contact us at [email protected]
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https://www.iims.org.uk/britannia-sustainability-report-published-for-the-first-time/
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Britannia sustainability report published for the first time
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2021-07-30T07:08:06+00:00
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With publication of the Britannia sustainability report, the P&I Club is defining the starting position of its sustainability for the future.
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en
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The International Institute of Marine Surveying (IIMS)
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https://www.iims.org.uk/britannia-sustainability-report-published-for-the-first-time/
|
With the publication of the first Britannia sustainability report, the P&I Club is defining the starting position of its sustainability initiative and roadmap for the future. The report outlines how Britannia P&I is embedding the management of climate related risk into its business strategy and integrating sustainability into its core processes.
Climate change represents a material financial risk to all regulated firms and the financial system. Britannia P&I, as an insurer, is equally exposed to this risk. However, sustainability encompasses not only climate change but also informs a company’s overall approach to improving corporate social behaviour and demands sound corporate governance. The Britannia sustainability report seeks to apply environmental, social and governance (ESG) concepts to all the strategic choices and operations of the Club.
As a member of the International Group (IG) of P&I Clubs, Britannia P&I is committed to supporting the IG’s sustainability strategy, which promotes the combined strength of the IG in four areas: pooling arrangements, casualty response, health and safety and acting as a leading industry voice. Britannia P&I will also collaborate with partners across the industry to ensure the sustainability of the wider maritime industry.
“Sustainability is essential for a P&I Club as Members rely on us to be their long term trusted partner”, said Anthony Firmin, Chair, Britannia P&I. “As you read the Britannia sustainability report we trust that you will find our transparency and approach instils confidence that we will continue to thrive and build on its long history which stretches back to 1855”, he added.
“As a key contributor to the marine sector, we view sustainability not as a target but as an essential”, said Andrew Cutler, CEO, Britannia P&I. “Understanding the implications of ESG in the short and long term allows Britannia P&I to support its Members now, as well as to plan its strategy and manage capital over a longer period of time.”
Britannia’s sustainability strategy takes into consideration the demands of its regulatory bodies, including the Prudential Regulation Authority and the Monetary Authority of Singapore. It is also shaped by the UN’s 17 Sustainable Development Goals as they relate to Britannia P&I’s business and the UN Environment Programme’s Principles for Sustainable Insurance, as well as demonstrating Britannia’s commitment to the 10 Principles of the UN Global Compact. Britannia will adopt the World Economic Forum approach to measuring its ESG performance.
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https://en.wikipedia.org/wiki/Britannia_Industries
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Britannia Industries
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2005-10-31T09:52:37+00:00
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/static/apple-touch/wikipedia.png
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https://en.wikipedia.org/wiki/Britannia_Industries
|
Indian food and beverage company
Britannia Industries Limited is an Indian multinational food products company, which sells biscuits, breads and dairy products. Founded in 1892, it is one of India's oldest existing companies and currently part of the Wadia Group headed by Nusli Wadia. As of 2023, about 80% of its revenues came from biscuit products.[4]
Beginning with the circumstances of its takeover by the Wadia Group in the early 1990s, the company has been mired in several controversies connected to its management,[5][6] but it continues to hold a large market share.[6][7]
History
[edit]
The company was established in 1892 by a group of British businessmen with an initial investment of ₹295.[8] Initially, biscuits were manufactured in a small house in central Kolkata. Later, the enterprise was acquired by the Gupta brothers, mainly Nalin Chandra Gupta, an attorney, and operated under the name, V.S. Brothers. In 1918, C.H. Holmes, an English businessman based in Kolkata, was taken on as a partner and The Britannia Biscuit Company Limited (BBCo) was launched. The Mumbai factory was set up in 1924 and Peek Freans acquired a controlling interest in BBCo. During the World War II, the government of British India needed a continuous supply of biscuits for British soldiers. The Britannia Biscuit Company started supplying biscuits to British Army for several years, and the company sometimes devoted 95% of its capacity to produce biscuits for the armed forces. Biscuits were in high demand during World War II, which gave a boost to the company's sales. The company name was changed to the current Britannia Industries Limited in 1979. In 1982, the American company Nabisco acquired the parent of Peek Freans and became a major foreign shareholder. In 1978, Britannia came out with its public issue, and its Indian shareholding had increased to 62%, which firmly established Britannia as an Indian company. The 38% foreign stake was owned by the UK-based Associated Biscuits International Limited (ABIL).[9][6]
In 1993, textile tycoon Nusli Wadia of Bombay Dyeing took control of the company from Britannia's then-chairman Rajan Pillai, with the help of French food giant Danone. In 2009, Wadia Group became the largest shareholder in BIL after acquiring a 25% stake owned by Group Danone.[5][10]
In December 2018, it launched a new category, Treat Crème Wafers.[11][12]
Britannia acquired a controlling stake in Kenya's Kenafric Biscuits in October 2022.[13] In September 2022, Varun Berry was appointed as Executive Vice-Chairman and Managing Director of Britannia Industries Limited, and Ranjeet Kohli was also appointed as Executive Director and CEO.[14][15]
In December 2022, Britannia Industries entered into a joint venture agreement with Bel SA of France and Britannia Dairy Private Limited (BDPL) to develop, manufacture and sell cheese products in India and other markets. Under the joint venture, Bel SA acquired a 49% stake in BDPL, a subsidiary of Britannia Industries, for ₹262 crore and infused an additional ₹215 crore in the joint venture.[16]
In August 2022, the company expanded its product portfolio by entering the western snacking market with the launch of its new product, Treat Croissant.[17]
Businesses
[edit]
The company's principal activity is the manufacture and sale of biscuits, bread, rusk, cakes and dairy products.
Biscuits
[edit]
As of 2023, about 80% of Britannia's annual revenue comes from biscuits.[4] Britannia has an estimated market share of 33% in the organised biscuits market in India.[4]
The company's factories have an annual capacity of 433,000 tonnes.[18] The brand names of Britannia's biscuits include MarieGold, Tiger, Nutrichoice, Good Day, 50 50, Treat, Pure Magic, Milk Bikis, Bourbon, Nice Time and Little Hearts among others.[18]
In 2006, Tiger, the mass market brand, realised $150.75 million in sales, including exports to the U.S. and Australia. This amounts to 20% of Britannia's revenue for that year.[citation needed]
Dairy products
[edit]
Dairy products contribute close to 10% to Britannia's revenue.[19] The company not only markets dairy products to the public but also trades dairy commodities business-to-business. Its dairy portfolio grew to 47% in 2000-01 and by 30% in 2001-02. Its main competitors are Nestlé India, the National Dairy Development Board (NDDB), and Amul (GCMMF).[20]
Britannia holds an equity stake in Dynamix Dairy and outsources the bulk of its dairy products from its associate.
On 27 October 2001, Britannia announced a joint venture with Fonterra Co-operative Group of New Zealand, an integrated dairy company which handles all aspects of the value chain from procurement of milk to making value-added products such as cheese and buttermilk.[20] Britannia intends to source most of the products from New Zealand, which they would market in India.[19] The joint venture will allow technology transfer to Britannia.[20] Britannia and the New Zealand Dairy each hold 49% of the JV, and the remaining 2 percent will be held by a strategic investor. Britannia has also tentatively announced that its dairy business (probably including Dynamix) would be transferred to the joint venture.[20] However, the authorities' approval to the joint venture obliged the company to start manufacturing facilities of its own. It would not be allowed to trade, except at the wholesale level, thus pitching it in competition with Danone, which had recently established its own dairy business.[20]
Disputes and controversies
[edit]
Wadia and Rajan Pillai
[edit]
Kerala businessman Rajan Pillai secured control of the group in the late 1980s, becoming known in India as the 'Biscuit Raja'.[21] In 1993, the Wadia Group acquired a stake in Associated Biscuits International (ABIL), and became an equal partner with Danone in Britannia Industries Limited.
In what The Economic Times referred to as one of [India's] most dramatic corporate sagas,[22] Pillai ceded control to Wadia and Danone after a bitter boardroom struggle,[23] then fled his Singapore base to India in 1995 after accusations of defrauding Britannia, and died the same year in Tihar Jail.[citation needed]
Wadia and Danone
[edit]
The Wadias' Kalabakan Investments and Group Danone had two equal joint venture companies, Wadia BSN and United Kingdom registered Associated Biscuits International Holdings Ltd., which together held a 51 percent stake in Britannia.[24] The ABIH tranche was acquired in 1992, while the controlling stake held by Wadia BSN was acquired in 1995. It was agreed that, in case of a deadlock between the partners, Danone was obliged to buy the Wadia BSN stake at a "fair market value". ABIH had a separate agreement signed in 1992 and was subject to British law.[24][25]
Wadia was to be Danone's partner in the food and dairy business, and product launches from Groupe Danone's were expected but never materialised despite the JV being in existence for over 11 years in India.[24] Under the 1995 joint venture agreement, Danone is prohibited from launching food brands within India without the consent of the Wadias.[26] In addition, the partners agreed there would be the right of first refusal to buy out the remaining partner in the event of the other wishing to sell its holding.[27]
In June 2006, Wadia claimed Danone had used the Tiger brand to launch biscuits in Bangalore.[27] In May 2007, Nusli Wadia told the Ministry of Commerce and Industry that Danone invested in a Bangalore-based bio nutrition company, Avesthagen, in October 2006 in violation of the government's Press Note 1, 2005, which requires a foreign company to obtain the consent of its Indian joint venture partner before pursuing an independent business in a similar area, including joint ventures based purely on technical collaboration. Danone argued that Press Note 1 did not apply to it as it did not have a formal technology transfer or trademark agreement with Avesthagen, and that its 25% holding in Britannia was indirect.[28] Wadia also filed a case in the Bombay High Court for a breach of a non-competition clause in that connection. The court ordered Danone not to alienate, encumber or sell shares of Avesthagen.[29]
In September 2007, the Foreign Investment Promotion Board of India rejected Danone's claims that it did not need a non-compete waiver from the Wadias to enter into business in India alone.[30]
After a prolonged legal battle, Danone agreed to sell its 25.48% stake in Britannia to Leila Lands, which is a Wadia group entity based in Mauritius, and quit this line of business. The deal was valued at $175–200 million. With this buy-out, Wadia holds a majority stake of 50.96%.[31]
Intellectual property dispute
[edit]
In a separate dispute from the shareholder matters, the company alleged in 2006 that Danone had violated its intellectual property rights in the Tiger brand by registering and using Tiger in several countries without its consent. Britannia claimed the company found out that Danone had launched the Tiger brand in Indonesia in 1998, and later in Malaysia, Singapore, Pakistan and Egypt, when it attempted to register the Tiger trademark in some of these countries in 2004.[32] Whilst it was initially reported in December 2006 that agreement had been reached,[33] it was reported in September 2007 that a solution remained elusive.[32] In the meantime since Danone's biscuit business has been taken over by Kraft, the Tiger brand of biscuits in Malaysia was renamed Kraft Tiger Biscuits in September 2008.
Britannia initiated legal action against Danone in Singapore in September 2007.[34] The dispute was resolved in 2009 with Britannia securing rights to the Tiger brand worldwide, and Danone paying ₹220 million to utilise the brand.[35]
Partnerships
[edit]
In March 2017, it formed a joint venture with Greek firm Chipita SA for producing and selling ready-to-eat croissants in India.[36] In September 2021, the company partnered with Accenture to digitize the company's manufacturing units and warehouses.[37] During the COVID-19 pandemic in India, it tied up with personal concierge startup Dunzo to deliver essential goods at the customer's doorstep in April 2020.[38]
Philanthropy
[edit]
The company has been engaged in various social and philanthropical activities. It has joined the United Nations Global Compact, the world's largest sustainability initiative, and has aligned with the Sustainable Development Goals (SDG). It supports the maritime insurance industry and provides assistance to shipowners in developing transitional methods to achieve the objectives of the Paris Agreement.[39] Britannia P&I is an associate member of the International Maritime Rescue Federation.[40]
It runs a non-profit Britannia Nutrition Foundation that advocates better child nutrition and addresses child malnutrition issues in India.[41]
Awards and recognition
[edit]
In 2022, the company was ranked 4th in the list of India's most chosen FMCG brands, as per Kantar India's annual Brand Footprint report.[42]
Britannia won the Global Sustainability Leadership Awards by the World Sustainability Congress in 2021.[43]
The Economic Times listed the company's Good Day biscuit brand as the Brand Equity’s Most Trusted Brands of Indians in 2019-20.[44]
The company was selected for special recognition under the Leading RE Investor category at Renewable Energy India Awards 2016.[45]
In 2014, the company was voted as Reader's Digest Trusted Brand in India under the food and beverage category, part of the Reader's Digest Trusted Brand Survey.[46]
In 2014, The Economic Times ranked the company at 11 in the 100 Most Trusted Brands of India list 2014.[47]
The company was listed in India's Most Attractive Brands 2013 in a TRA Brand Trust Report survey.[48]
It was awarded the Global Performance Excellence Award (GPEA) by Asia Pacific Quality Organization (APQO) in June 2012.[49]
It was ranked #2 in the Brand Equity's Most Trusted Brands survey by The Economic Times.[50]
In 2012, Britannia received the Golden Peacock National Quality Award – 2012 under the FMCG category.[51]
In 2011, Britannia won the Indian Merchants' Chamber (IMC)'s Ramkrishna Bajaj National Quality Award.[52][53]
In 2011, the company received the CII's National Award for Food Safety 2011 in the category of 'Large Food Businesses - Manufacturing' by the Confederation of Indian Industry.[54]
According to The Economic Times' Brand Equity Survey, the brand was ranked 5th in the top 10 most trusted brands list in India in 2010 and 2nd in 2012[55] in India's top 10 most trusted brands list.[56]
Britannia is one of India's 100 Most Trusted brands listed in The Brand Trust Report.[57]
Indian Super League (2018–present)
See also
[edit]
Companies portal
Parle Products
References
[edit]
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Accenture collaborates with Britannia to accelerate innovation, improve customer experience
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2021-09-29T00:00:00
|
As Britannia’s partner on its digital journey, Accenture designed, developed and deployed a technology system based on SAP S/4HANA
|
en
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https://akm-img-a-in.tosshub.com/businesstoday/resource/img/favicon_v2.ico
|
Business Today
|
https://www.businesstoday.in/latest/corporate/story/accenture-collaborates-with-britannia-to-accelerate-innovation-improve-customer-experience-307969-2021-09-29
|
Accenture helped Britannia Industries Ltd. accelerate innovation, capture value and improve the customer and supplier experience, through a holistic digital transformation program.
As Britannia’s partner on its digital journey, Accenture designed, developed and deployed a technology system based on SAP S/4HANA. The new system has increased the visibility and accessibility of data across the organisation and enabled deeper use of automation and analytics to guide business decisions. The enterprise-wide program is focused on modernising Britannia’s business model by digitising essential services and processes. For Britannia’s large network of suppliers, this project will help streamline procurement and supply chain management.
By digitizing more than 80 manufacturing units and 50 warehouses, Britannia can significantly reduce IT operational costs and unlock capital for innovation and growth initiatives. The system will improve inventory optimisation, product availability and workforce productivity for Britannia by building more effective business processes across manufacturing, finance, sales and supply chain management.
“We believe the digital transformation of our business, supported by Accenture, will play a pivotal role in growing our business at speed and scale with data-backed insights and operational efficiencies.” said N Venkataraman, Executive Director & Chief Financial Officer, Britannia.
“By transforming Britannia’s core operations, we have helped build a digital backbone that will not only benefit their entire value chain of suppliers, retailers and partners, but also creates a solid foundation for innovation and new growth opportunities,” said Manish Gupta, managing director for Accenture’s Products practice in India.
Also read: Britannia Q1 results: Net profit falls 29% to Rs 387 cr
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Biscuits Market Size, Share, Growth and Industry Analysis by 2027
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"Biscuits Market",
"Biscuits Market Research",
"Biscuits Market Insight",
"Biscuits Market Trends",
"Biscuits Market Forecast",
"Biscuits Market Share",
"Biscuits Market 2028",
"Biscuits Market Growth",
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2020-04-27T00:00:00
|
[Research Report] Biscuits Market is projected to reach US$ 111,079.29 Mn by 2027 with a CAGR of 4.8% from 2019 to 2027. The market is driven by the rising demand by focusing global industry analysis, by Category, by Product Type, by Specialty Type and Region.
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https://www.theinsightpartners.com/assets/images/favicon.ico
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The Insight Partners
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https://www.theinsightpartners.com/reports/biscuits-market
|
[Research Report] The biscuit market was valued at US$ 76,886.00 million in 2018 and is projected to reach US$ 111,079.29 million by 2027; it is expected to grow at a CAGR of 4.2% from 2019 to 2027.
Biscuits are small pieces of bread made from a mixture of flour, sugar or salt, butter or vegetable shortening, and baking powder as a leavening agent. There are a variety of biscuits available in the market, such as sweet biscuits, savory biscuits, digestive biscuits, and filled biscuits, among others. Digestive biscuits are a rich source of fiber and are preferred by the consumers who want to avoid consumption of sugar and fructose corn syrups. Biscuits comprise of many nutritional factors such as fats, fibers, and carbohydrates that are essential to human health. The high nutritional value of biscuits makes them a highly preferred breakfast meal consumed globally. Factors such as increasing demand for convenience snacking coupledwith availability of healthy biscuit option is propelling the growth of biscuit market globally. Also, rising trend for food-on-the-go is one of the fundamental considerations for consumers while purchasing food products, hence it has become a lucrative factor for fuelling the market. In addition, frequent launches with new formulations in the basic product such as gluten free, low fat, low carb, high fibre and organic biscuits to attract consumers has further enhanced the market growth.Based on type, the biscuits market has been segmented into sweet, savory, crackers, filled, wafers, and others. Based onpackaging, the biscuits market has been segmented into pouches/packets, boxes, and jars. Based on distribution channel, the market has been segmented into supermarkets and hypermarkets, convenience stores, online retail, and others.
Asia Pacific is expected to register the highest CAGR of 4.8% in the global biscuits market during the forecast period.Several domestic and international companies have a strong foothold in the region. China holds a major share of the market in Asia Pacific, followed by India and Japan. The region largely supports the growth of the biscuits market through effective manufacturing and trade policies, Changing consumer taste preferences and rising demand for processed food, and the availability of numerous product variants boost the growth of the biscuits market in Asia Pacific. Also, the growing demand for biscuits in the snack category due to the elevating preference for convenience food or on-the-go snacks further propels the biscuits market in this region. Innovation in the packing of the products plays a significant role in the rising demand for biscuits in Asia Pacific.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Biscuits Market: Strategic Insights
Biscuits Market
CAGR (2018 - 2027)
4.2%
Market Size 2018
US$ 76.89 Billion
Market Size 2027
US$ 111.08 Billion
Market Dynamics
GROWTH DRIVERS
XXXXXXX
XXXXXXX
XXXXXXX
FUTURE TRENDS
XXXXXXX
XXXXXXX
XXXXXXX
OPPORTUNITIES
XXXXXXX
XXXXXXX
XXXXXXX
Key Players
Britannia Industries Limited
Burton's Biscuit Company
ITC Ltd.
Kellogg Company
Lotus Bakeries NV
Mondelez International, Inc.
Nestlé S.A
United Biscuits (UK) Limited
Parle Products Pvt. Ltd.
Regional Overview
North America
Europe
Asia-Pacific
South and Central America
Middle East and Africa
Market Segmentation
Type
Sweet
Savory
Crackers
Filled
Wafers
Others
Packaging
Pouches/Packets
Boxes
Jars
Distribution Channel
Supermarkets and Hypermarkets
Convenience Stores
Online Retail
Others
Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Impact of COVID-19 Pandemic on Biscuits Market
COVID-19 outbreak first began in Wuhan (China) during December 2019, and since then it has spread across the globe at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst affected countries in terms confirmed cases and reported deaths as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The overall market breakdown due to COVID-19 is also affecting the growth of the biscuits market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
Use of good-quality raw materials with growing clean label trend
The selection of a prime quality of raw materials is a major aspect of standardized production, and multinational businesses need to invest in into acquire the clean label. To produce biscuits of desired variety and quality, companies are striving to select the best quality flour and essential raw material, which can be supplied continuously with the same superiority. As the biscuit products are not essential goods, attractive ingredients and health benefits or related feature can help the producers win consumers attention. Companies are also focusing on the external appearance of the packaging, which is contributing to the sale of the product. Further, the quality of packaging of exported biscuit products and appropriateness of the product for the taste of people from different export countries also impact international business of biscuit manufacturers. Hence, companies are looking after using fine-quality raw materials in production as well as packaging for securing larger market share.
Type-Based Market Insights
The biscuits market, based on type, has been segmented into sweet, savory, crackers, filled, wafers, and other biscuit types. The sweet segment accounted for the largest share of the global biscuits market in 2018;the market for the filled biscuits is expected to grow at the highest CAGR during the forecast period. Sweet biscuits are consumed worldwide owing to their taste, energy content, and easy availability. The high nutrient content of sweet biscuits also makes it a preferred choice of consumers. Moreover, the growing preference for convenient snacking, together with easy accessibility for consumers through the advancing retail sector, is favoring the growthofthe sweet biscuits market.
Packaging-Based Market Insights
The biscuits market, based on packaging,is segmented intopouches/packets, boxes, and jars.In 2018, the pouches/packets segment accounted for the largest share ofthe global biscuits market, whereas the boxes segment is expected to register the fastest CAGR during the forecast period. Biscuit packaging is mainly done to present the biscuits in an attractive way display the biscuit type, ingredients, and weight maintain the freshness and flavor of biscuits for longer shelf life and protect the biscuits from external harm among other reasons. Moreover, packing biscuits in pouches or packets adds aesthetic attributes that appeal to the customers or helps in easy recognition.
Distribution Channel-Based Market Insights
The biscuits market, based on distribution channel,is segmented into supermarkets and hypermarkets, convenience stores, online retail, and other distribution channel.In 2018, the supermarkets and hypermarkets segment accounted for the largest share of the market, whereas the online retailsegment is expected to register the highest CAGR during the forecast period. Supermarkets and hypermarkets are self-help shops giving a wide variety of biscuits such as sweet biscuits, savory, crackers, filled or coated, and wafers. Supermarkets and hypermarkets offer extensive merchandise mix along with different brands of biscuits, placed under the same roof. Biscuits have a dedicated section in the supermarkets and hypermarkets, thus the customers are easily guided to a single point to choose from a wide variety. Therefore, consumers prefer buying biscuit products in supermarkets and hypermarkets. Moreover, the presence of large supermarkets and hypermarkets chains in developed and developing countries boost the sales of biscuits through this channel.
Mergers and acquisitionsare commonly adopted strategies by companies to expand their footprint worldwide. Britannia Industries Limited, Burton's Biscuit Company, and Mondelez International, Inc., are among the market players implementing this strategyto enlarge the customer base and gain significant market share globally, which, in turn, permits themmaintain their brand name in the global market.
Biscuits Market Report Scope
Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Biscuits Market – By Type
Sweet
Savory
Crackers
Filled
Wafers
Others
Biscuits Market – By Packaging
Pouches/Packets
Boxes
Jars
Biscuits Market – By Distribution Channel
Supermarkets and Hypermarkets
Convenience Store
Online Retail
Others
Company Profiles
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https://www.britannia-movers.co.uk/about-us
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About Britannia Movers International
|
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2024-07-25T13:10:45+00:00
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Britannia was formed in 1981 aiming to provide comprehensive and competitive removal and shipping services for the small to medium sized ‘family’.
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en
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/wp-content/uploads/2016/01/favicon.png
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Britannia Movers International
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https://www.britannia-movers.co.uk/about-us
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A Brief History of Britannia Movers International Plc
Britannia was formed in 1981 aiming to provide comprehensive and competitive shipping services for the small to medium sized ‘family’ removal businesses in the UK and to enable them to compete on equal terms with the larger established specialist businesses mainly centred in London and its environs. Until this point those smaller provincial movers wishing to offer shipping services to their customers were usually obliged to subcontract their shipments to the London based services of their ‘competitors’ for onward bulk consolidation at generally dictated rates.
A Cooperative is formed
The founders of Britannia evolved the principal of a cooperative service which could operate at minimal overhead costs and they were soon joined by four other reputable businesses. As one of the founders was centrally based in Stourbridge in the West Midlands and space was comparatively cheap with modern facilities in place it was decided to base the new enterprise there. This became the main receiving centre for the new group and where operations would develop over the next 12 years.
The founders were aware that other similar groups had struggled and failed. They studied the reasons behind these failures and determined from the start that theirs would be a true cooperative avoiding the previous pitfalls and vested interests of others. The Britannia concept was to provide selected local family moving businesses with the ability to offer all the services that the larger international companies offered, at highly competitive rates with a more personal service. It was also decided that it would not be a franchise but that each member would hold an equal shareholding in the Group. The philosophy being that what benefited them benefited Britannia and vice versa.
Membership
Each member would put up the same portion of capital and the cooperative commenced with an unpaid Board and a nucleus of seven dedicated family businesses owned by individuals of integrity whose high standards were tested and proven.
Britannia Movers International was duly registered and coordination of their member’s worldwide shipments commenced. The first container was consigned to South Africa and gave rise to such complimentary comments on the standards of packing used that the Board realised they were creating a business with great potential. Rules were soon evolved covering vehicle livery, packing standards, training and services.
Corporate Moving
Over the next 12 years the business steadily grew and with the appointment of a full time Sales Manager Britannia expanded into the corporate moving market becoming a key supplier to the Ministry of Defence and all the main relocation companies. Membership of the group by then comprised 50 businesses including one in Australia & two in South Africa with a large number of carefully selected agents operating throughout the world.
In 1994 expansion dictated that the group transfer its receiving depot to London where the recruitment of a specialist Shipping Manager led to considerable expansion and development of those services. During the later half of that decade Britannia was becoming highly successful, profits being returned to the membership by way of dividends on their shareholding and advantageous loans to expand their own services and training facilities.
A press review of the moving industry’s future published in 1986 drew an interesting comment from Pickfords who openly stated that “Britannia was the business to watch” and during the late 1990’s the trade grew to acknowledge that, in the UK, Britannia was the market leader and with visibly more vehicles in BMI livery on the road than any of its competitors.
From Limited to PLC
With ever increasing demand for its services from private, corporate and international clients the Board decided, in 1997, to upgrade its registration from a Limited company to a PLC involving stricter financial disciplines through higher audit requirements.
During this period of rapid expansion Britannia opened discussions with like groups in Europe who were developing along similar lines and linked up with the major groups in Germany, Holland, France and Italy to form the European Moving Group (E.M.G.).
In 2001 Britannia relocated its head offices, for corporate, commercial and international services to larger new purpose built premises at Croydon.
Today, Britannia is an internationally recognised brand and still has the largest network of depots within the UK compared to its competitors.
The Britannia Group now travel weekly to all major European destinations, undertaking removals to and from the United Kingdom and the rest of Europe. They have dedicated specialist for the exportation and importation of domestic household belongings going to and from every corner of the globe.
New MD and Head Office
Mark Tresler was appointed MD in 2011, moving up from his previous position as Finance Director, a role he held for 7 years previously. Mark’s commercial background and strategic thinking has allowed Britannia to move from strength to strength during his tenure. Key achievements have been further advances in the Shipping market, greater investment in Britannia Marketing and promotions and a highly successful Membership benefit program that includes a truck purchase scheme for Members. Perhaps the most ambitious step during Mark’s tenure has been the purchase and construction of a new flagship head office in Merstham near Redhill. The transferral of office equipment and staff was carefully managed over a period of weeks, culminating in an official opening date for Britannia’s new head office on Monday 21st November 2016.
BMI Today
There is now a dedicated team who manage Britannia’s Corporate relocation clients from the Britannia head office in Merstham. The team coordinate removals and storage for a diverse range of different clients from the banking, retail, telecoms, insurance and local government markets both within the UK and around their global network.
Join Us
BMI is always looking for new members to join the group and are now providing trade services and support to other companies within the International and European removals industry.
BMI has maintained its excellent reputation over the years based on a twin strategy of growth and customer satisfaction and continues to strive to meet customers’ needs and expectations in the dynamic and ever changing world of domestic and international moving.
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dbpedia
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https://www.livemint.com/Companies/NS21VhcoPkmkVrtcTMByfL/Britannia-to-restructure-of-its-top-management.html
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en
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Britannia to restructure its top management
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2013-05-27T17:07:00+05:30
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MD Vinita Bali to focus on expanding the firm’s international operations, COO Varun Berry to head India business
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en
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mint
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https://www.livemint.com/Companies/NS21VhcoPkmkVrtcTMByfL/Britannia-to-restructure-of-its-top-management.html
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Bangalore: Britannia Industries Ltd has restructured its top management for the second time in five months as it looks to aggressively expand its small international business with growth at its core biscuit business slowing.
add_main_imageManaging director Vinita Bali will now focus on expanding the company’s international operations, Britannia Nutrition Foundation and developing new business, and chief operating officer (COO) Varun Berry, who recently joined the company from PepsiCo Inc., will head its India business, Britannia said in a statement on Monday. The organizational changes will “enhance Britannia’s position to become an all-embracing foods company from a bakery/dairy company”, the maker of Good Day and Tiger biscuits said.
“This is a positive move. The India business is pretty much stable but their international business is currently a drag on their overall performance. Once their international subsidiaries start contributing, Britannia’s performance will be totally different,” said Bhaveshkumar Jain, analyst at Sushil Financial Services Pvt. Ltd. “They haven’t been able to scale up the international business. There’s huge scope for things like cheese, cake and rusk,” Jain said.NextMAds
The company’s international business, which contributes less than 10% of the company’s sales, comprises primarily of a unit in Oman and another in Dubai as well as products exported from factories in India. Britannia sells products such as biscuits, wafers, cake and rusk in the Gulf, Australia, North America as well as some African countries.
The growth in Britannia’s international sales dropped in the year ended March 2013, according to Jain’s analysis of Britannia’s financial statements.
This is the second management restructuring announced by Britannia this year. In January, the company named a new chief financial officer and said that Berry, who has 27 years of experience at companies such as PepsiCo and Hindustan Unilever Ltd, will replace Neeraj Chandra as COO.
Britannia, along with other biscuit makers, is seeing a drop in volume growth of biscuits. Rising prices of biscuits over the past two years have hurt demand and the Bangalore-based company is also facing increased competition from larger rival Parle Products Ltd as well as ITC Foods.
Britannia’s plans to expand its international operations is another step by the company to diversify its business.
The company, which gets 70-75% of its sales from biscuits, has been pushing faster into other food products such as milk and cheese that offer higher margins and faster growth than biscuits.sixthMAds
Sushil Financial’s Jain said that a change at the top was unlikely any time soon.
“Bali has a contract till 2016. She’s signed a five-year extension (in May 2011). I don’t think she’s going to leave anytime soon,” Jain said.
The stock rose 15.91% to ₹ 665.85 on Monday, after strong fourth-quarter results on Friday.
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https://www.slideshare.net/slideshow/strategic-analysis-britannia/42824954
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Strategic analysis on britannia
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2014-12-18T03:34:42+00:00
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Strategic analysis on britannia - Download as a PDF or view online for free
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1. Strategic Analysis Sec- E, Group- 10 The Role of Strategy in Success: A Study of Britannia Industries Ltd. Group: 10, Sec: E :Member list: Suraj poddar (13202054) Sarthak Hota (13202040) Abhinav Tushant (1018002) Mohadev Mishra (13202024) Sumit Kumar Mula (1019029) JYOTI RANJAN MOHAPATRA (13202016)
2. Strategic Analysis Sec- E, Group- 10 Origin & Governance: In 1892, Britannia industries ltd. was started in Kolkata with an initial investment of Rs. 295. Britannia's business was flourishing with growing market. In 1978, Indian shareholding crossed 60%. 1983, it crossed the Rs. 100 crores revenue mark. In 1997, the company unveiled its new corporate identity - "Eat Healthy, Think Better" - and made its first foray into the dairy products market. The 50-50 Maska-Chaska became India's most successful product launch. In 2002, it formed a joint venture with Fonterra, the world's second largest Dairy Company. Having succeeded in garnering the trust of almost one-third of India's population and a strong management at the helm means Britannia will continue to dream big on its path of innovation and quality. Products & Services: It has wide range of ready to eat products. Britannia does its business on Bakery (Biscuit, Cake and Bread) and Dairy (Cheese, Butter and Milk) products. About 90% of Britannia’s annual revenue comes from biscuits and 10% from Dairy products. The brands in Britannia are VitaMarieGold, Tiger, Nutrichoice Junior, Good day, 50-50, Treat, Pure Magic, Milk Bikis, Good Day, Bourbon, Thin Arrowroot, Nice, Little Hearts, pure magic, flavoured Yoghurt, Dairy Whitener cookies and Actimind. Performance: Between 1998 and 2001, the company's sales grew at a compound annual rate of 16% against the market, and operating profits reached 18%. About 2007, the company has been growing at 27% a year, compared to the industry's growth rate of 20%. In FY 2013-14, a challenging economic environment and intensely competitive market, Profit from Operations increased 69.6%, from 314.45 crores to 533.24 crores with a revenue growth of 12%. Company focused on profitability, capital productivity and working capital management to generate cash flow from operating activities of 614.51 crores compared to 272.01 crores in the previous year. Earnings per share increased to 30.87 from ` 19.57 in the previous year. Opportunities: Indian consumer with constantly expanding wallet and higher aspiration constitutes the largest opportunity for your Company. Second opportunity lies in the constant force of technology change which will provides Company to compete and to improve efficiency & productivity e.g. Biomass and Solar energy. The opportunities before the company are to increase its share in the dairy industry, expansion in foreign lands, product line extension. Challenges: Entry of new players, rise in cost of raw materials and both domestic & international seeking a share of the growing industry and willing to invest for the long term is a key threat. Opportunities are equally visible competitors of your Company and that constitutes the primary threat. As opportunities in rest of the world diminish, India will become one of the main sources of growth for many international players and that will pose a threat to your Company. Outlook: Company estimates growth to be 8%-10% which is lower than growth rates of earlier years. While this presents a revenue challenge, Company expects to be challenged on the cost front on account of commodity prices and in some case even by regulatory environment in areas such as excise and depreciation. In this environment, your Company will focus on the fundamental building blocks of business viz. width / depth and quality of distribution, efficiency in operations, consistent and high product quality, aggressive support for its brands and nurturing a strong and cohesive team to achieve faster than market and profitable growth. In the longer-term your Company expects the growth to track back to 12%-15% level. 1
3. Strategic Analysis Sec- E, Group- 10 A company's strategic position can be clarified by the various dimensions of corporate strategy, looking at value, imitations and perimeter, so is with Britannia Industries. Value Britannia has acquired a reputation of quality and value. It has also succeeded in garnering the trust of almost one-third of one billion population. Imitation Britannia faces a tough competition with its competitors as new imitated products are available, price war is there, therefore, Britannia always try to build its quality and deliver value to the customers. Perimeter Britannia has always focussed on expansion of business as from Britannia biscuits to dairy products market. In 2002, Britannia's new business division formed a joint venture with Fonterra, the world's second largest dairy company, and Britannia New Zealand Foods. Pvt. Ltd. Was born. Britannia Industry Hierarchy of Strategic Intent Vision – “to dominate the food and beverage market in India with a distinctive range of tasty yet healthy Britannia brands". Every third person in India should be a Britannia consumer. Mission –“to dominate the food and beverage market in India through a profitable range of "tasty yet healthy products" by making every Indian a Britannia consumer. Britannia also has a mission vision mission goals objectives Plans Most integrative Most specific Fewestinnumber Greatestinnumber 2
4. Strategic Analysis Sec- E, Group- 10 of- development of production in partnership and with our customers to their specifications and Flexibility and capability to meet the small and large production runs. Goals - To improve profitability To increase efficiency To capture a bigger market share To provide better customer service To improve employee training To reduce carbon emissions Objectives- The short term objectives are: to improve image to shareholders Improve internal processed and controls. The long term objectives are: To be the lowest cost producer in the market. to become the largest national player in the Plans : Britannia is planning to invest ₹200 crore over next two-three years to expand its production capacity. The company wanted to diversify into other areas of foods from biscuits and cakes and become a total foods company. Apart from these strategies, Britannia industry also focuses on various strategies as: Marketing channels- Britannia has tactically managed its marketing channels to retain control on products as well as pricing. It adopted the indirect marketing channel and uses the two level distribution channel. The company also relies on the dependent channel arrangement to avoid any conflict with the intermediaries. Physical distribution cum Logistic strategies- Physical distribution starts at the factory. Managers at Britannia makes decision of warehouse and transportation carrier that will deliver the goods to final destination in the desired time at the lowest cost possible. Britannia has level 1 , level 2, level 3 distribution channel levels. Level1: Availability of Britannia biscuits at all the departmental stores across the country. 3
5. Strategic Analysis Sec- E, Group- 10 Level2: Since it's an FMCG products this channel exist for the customers spread across India. Level3: Mass consumption and suitable for both domestic and international coverage. Sales Force Strategy- The main objective of the sales force of Britannia is to generate higher sales which would translate to increase revenue for the company. The sales manager in different regions delivers the product of the company to the distributors in those region who in turn supply the products to the various retailers and grocery outlets. Promotional strategy- Britannia is well known in the market for its various promotional strategy as: In 1999"Eat Britannia, Go for World Cup" (Britannia khao, world cup jao) was the theme adopted by Britannia in which people bought the biscuit packs and searched for the lucky scratch for flying to England to see world Cup Cricket match. The sales bounced 37% high on account of this strategy. The scheme came alive again during the world Cup Match in 2002-2003 in South Africa. They again gain market attention with the launch of movie "Lagaan" in which they invited 40,000 Britannia biscuit buyers to come and play with the star cast. . The Britannia Industries also follows the corporate social responsibility as: Catering to the national interest Committed to be a good corporate citizen The company prohibits any payment of bribes 4
6. Strategic Analysis Sec- E, Group- 10 Internal and External Analysis of Britannia Industries Bakery industry in India today has an important place in the industrial map of the country. With rapid growth, improvement in standard of living, westernization, increase in spending power, changing eating habits of people and increased transition from the unorganized sector to organized sector, bakery products have gained immense popularity among masses. Industry Structure The bakery industry is mainly popular in the southern part of India like the states of Andhra Pradesh, Maharashtra, West Bengal, Karnataka, Tamil Nadu and Kerala. Around 60% of production takes place in the unorganized sector. There are around 2 million unorganized bakeries in the country, comprising small bakery units, cottage and household type manufacturing. The organized sector consists of large, medium and small-scale manufacturers producing bread and biscuits. The market size for the industry in India is expected to reach 47 billion by 2015 with a growth of 50 to 60 % per annum. Industry Segments Bread: About 50% of this segment is organized and is growing at a rapid rate of 14-15% per year. The estimated size of the organized bread industry is about 50 billion. Biscuit: The biscuit market in India is estimated to be $100 billion and the industry is also gearing up to aggressively tap the medium and premium segment within the country. Biscuit industry in India in the organized sector produces around 60% of the total production, the balance 40% being contributed by the unorganized bakeries. Mainly in rural India the biscuit consumed by consumer is from unorganised sector. PORTER'S FIVE FORCES MODEL: Competitor Rivalry: BIL has a market share of 38% and has been growing at 27%, compared to the industry growth rate of 20% Battle-scarred Britannia on expansion spree, Business Standard and has many competitors based on the nature of product. Parle and ITC (Sunfeast) pose a great competition to BIL. BIL earning major of its income from the biscuits, and Parle and ITC are the other major players in biscuit market. BIL is also into the production of dairy products, where the two major players in market are Amul and Nestle. Amul is the leader in the dairy industry. There is also a high level of competition from the unorganized baking sector. Overall rivalry is high. Threat of New Entrants: The entry on a small scale dairy industry and in the unorganized baking sector is easy. But on the other hand to enter the large scale dairy industry and organized baking sector a huge amount of investment is required in terms acquiring assets and to establish supply and distribution chains. 5
7. Strategic Analysis Sec- E, Group- 10 Government regulations pertaining to food norms and others may also seem to be unattractive. Looking at the latest trends, the bakery industry is expected to earn huge revenues which might attract new entrants. So the threat of new entrants is moderate. Threat of Substitutes: Savoury snacks, crisps, cereals, fruits and other fast food can be substituted for biscuits. Dairy products are dubious to be replacing with other products as they key ingredients of majority of people’s diet. So the threat is a very moderate threat of substitutes. Buyer’s Power: The buyer’s of these products could be a retailer or the consumer. Both the dairy and bakery industry are price sensitive, so a little increase in price might lead the consumer to shift other brand or product. So the buyer’s power is calculated to be very strong. Supplier’s Power: The major supplies for a bakery industry include wheat, sugar and other agriculture products. And the major supplies for dairy products are milk. It’s difficult to bargain with the suppliers of the above mentioned inputs as the price of these inputs is majorly influenced by the production of these inputs. The prices tend to be high as the demand for these products is rising at much faster rate than supply. The secondary supplies include the packaging material. The secondary supplies can be easily substituted with the low-cost ones to save on cost. Overall the supplier’s power is assessed to be moderate. Conclusion of Five Forces Analysis: There is an existence of major players in the market with a moderate level of threat of new entrants and substitutes. The supplier’s power is moderate but the buyer’s power is measured to be strong. So the rivalry is suggested to be high. PESTEL ANALYSIS Political: Exemption on Customs Duty on Sugar Raw Material Import: Due to the shortage in the production of sugar the deadline for the exemption on customs duty on raw sugar imports has been extended. Exemption on customs duty will help in purchasing sugar at lower cost, which in turn will control the cost of production. VAT on Biscuits: The VAT of 12.5% on Biscuits. Price of the biscuits might need to be increased due to the high VAT rates which may result in switch of brands due to the highly competitive market. 6
8. Strategic Analysis Sec- E, Group- 10 Removal of Import Duty on Dairy Products: The whole-sale price based inflation indicates that the milk prices have moved up by 14.73% over the last year. The imports at cheaper rate would help in reduce the cost factor for dairy products. Incentives to Build Cold Storage Facilities: Wastage of food items due to lack of cold storage facilities lead to a loss of Rs. 500 billion every year. The government announces schemes and incentives to attract investments in cold storage warehousing would help in preserving products better and reduce the wastage cost. Economical Shortage of Milk: Even though the milk production has risen by 4.6% compound annual average growth rate, it still cannot match up with the increasing demand. Price of milk increased by 12.6% to 13.6% . This can cause an increase in the input cost for the dairy products and which in turn can lead to hike in price or lower profit margins. Globalization: Globalization a universal phenomenon is affecting each and every industry. This can serve as an opportunity to expand the business to a global level but on the other hand there is a threat of new entrants from international market. Requirements for Logistics: Logistics in India suffer due to the poor infrastructure and other limitations. Sophisticated third party logistics system will help in proper supply chain management and on time delivery of goods, which help in maintaining the shelf life of goods on meeting the demand on time. Social: Need for Healthy Eating Habits: Studies say that Indians are more prone to Coronary Artery Disease (CAD), which is the major independent risk factor causing Cardiovascular diseases, due to the smaller calibred arteries found in Indians. This suggests that Indians should move towards more healthy food and diet. This could be a new area to explore for Britannia with its new health associated products like Nuti-Choice biscuits and Actimind flavoured milk. Problems with Cloned Livestock: Cloned animals are supposed to be suffering from large-offspring syndrome. The mother cows face a problem in giving birth to the cloned animals as they are larger than normal. Also these cloned animals suffer from health which might make unsafe to consume the produce from them. Technological: Cloning of Livestock: India, a late entrant in cloning research, is now moving with a great pace in cloning technology. ‘Hand guided cloning technique’, a technique very different from the conservative cloning practice has been a successful venture. New Age Packaging: The new packaging systems help in protecting food from micro-organisms by creating shelter layer. It uses new technologies like oxygen scavenging function, atmosphere control, biodegrability etc. and is low cost. 7
9. Strategic Analysis Sec- E, Group- 10 Environmental: Change in the Climatic Conditions: Climate plays an important role in the agriculture process. The change in the rainfall pattern has been a matter of concern now in India. The agriculture sector in areas which are monsoon dependent suffered badly due to the change in the rainfall pattern. The sector suffered a huge loss in terms of total output. The loss in crop will affect the input supply and this might delay or cause problems in the production. So the industry might not be able to meet the demands resulting in the loss of customers. Legal: Raising the Norms for the Probiotic Food: There is a need for setting the standards for probiotic food. Clinical tests should be conducted on the probiotic foods before they could reach the market for sale. The Indian Council of Medical and Research has submitted the proposal for the same to the government. Strict norms will help in raising the quality standards but on the other hand the cost and time of production might subsequently increase. Identifying key success factors WHAT DO CUSTOMERS WANT? (Analysis of demand) HOW DO FIRMS SURVIVE COMPETITION? (Analysis of competition) KEY SUCCESS FACTORS BISCUITS Low price, variety, quality, quantity, flavours, availability at convenient stores, discounts, offers, packaging, taste, healthy, wheat instead of refined flour, health conscious. Markets localized, extension of product line, managing supplier and distributors network for availability of products, launching promotional offers, R&D in tastes and flavours, introducing more dietary and healthy product range. Convenient locations, competitive price challenge, wide variety of offerings, new product launch, quality parameters. 8
10. Strategic Analysis Sec- E, Group- 10 Internal analysis of Britannia: MCKINSEY'S FRAMEWORK: THE HARD S's: Strategy: The direction and scope of the Britannia company over the long term. Structure: The basic organization of the Britannia company, its departments, reporting lines, areas of expertise and responsibility (and how they inter-relate). Systems: Formal and informal procedures that govern everyday activity, covering everything frommanagement information systems, through to the systems at the point of contact with thecustomer (retail systems, call center systems, online systems, etc) THE SOFT S's: Skills: The capabilities and competencies that exist within the Britannia company. What it does best. Shared values: The values and beliefs of the Britannia company. Ultimately they guide employees towards 'valued' behaviour. Staff: The Britannia company's people resources and how they are developed, trained and motivated. 9
11. Strategic Analysis Sec- E, Group- 10 Style: The leadership approach of top management and the Britannia company's overall operating approach. The Challenges and the Opportunities Britannia faced While the fast-moving consumer goods sector has not had it as bad as others, nevertheless has been challenging. Battling costs rising and hurt consumer demand, the company have been hard pressed to balance growth in sales and profit. The challenges faced by Britannia: Britannia one of the India’s largest biscuit brands held market share of 38% in terms of value. Indian biscuit industry, the third largest producer of the biscuit in the world was highly under- penetrated. This presented numerous growth opportunities to new as well as existing players. Apart from the presence of big players like ITC foods, Parle, the local manufacturers of biscuits and other Indian snacks had been raising concerns for Britannia. Besides competition Britannia faced critical challenges due to declining margins in the biscuit industry due to increase costs of raw materials. The biscuits-to-breads company Britannia finds itself staring at a new challenge, which is employee attrition. Several middle and senior level managers are choosing to exit and the company is struggling to find replacements. Actual attrition rate (YTD) is around 25% (which has a seasonal bias) and there is no change in the pattern from previous years. This is typically the time when post- appraisal, some people from all the companies leave and settle in various other ones. The attrition rate on annual basis is likely to be near long-term averages. The opportunities the company have: The company adopted a three-pronged approach to overcome the challenges it faced. It focused on driving innovation by producing new high-margin, value-added product offerings, and boosting revenue by introducing differentiated brands with differential pricing and restructuring costs through improving operational efficiencies throughout the value chain. The company leveraged its strong brands through steady investment, investing in building additional capacity in order to increase in-house manufacturing of premium brands and focusing on complexity reduction with rationalised stock keeping units (SKUs) and work processes that resulted in profitable growth. The company invested in further strengthening its reach in urban and rural markets. It restructured distribution models to gain depth of distribution in urban markets and width of distribution in rural markets. 10
12. Strategic Analysis Sec- E, Group- 10 SWOT Analysis of Britannia STRENGTH WEAKNESS OPPORTUNITIES THREATS Recommendations The manufacturer should understand the consumer behaviour to beat the competition. Britannia should adopt a Push strategy of marketing in order generate more sales and giving more margins to the retailers. The company should try to get associated with the Government initiatives as Mid-day meal, Sarva Shiksha Abhiyan, National Rural Health Missions Introduce new flavours in their product range. They can open dedicated Britannia stores as of Amul for more market share and differentiating from others in the industry. Extensive distribution network Providing a wide range of biscuits Innovative advertisement Widely accepted in all generations Easily available in various form Depends on stores and retailers Low penetration in rural area Not an extensive overseas market Increases the cost of food products Increasing demand for diet and sugar free biscuit Retaining loyal retailers and wholesalers Targeting interior area of India Generate employment opportunity Local bakery products limitation New entrants like Cadbury Oreo, Sunfeast Dark fantasy Margin war among the major brands Unable to utilise all the resources efficiently 11
13. Strategic Analysis Sec- E, Group- 10 Conclusion Britannia Industries limited is the India's largest manufacturing company covering all sectors of bakery products and diversifying into dairy products market. Developing and generating trust amongst its consumer base and delivering quality products had made it success for Britannia. As we see the strategic direction of the company, today there is a neck-to-neck competition between the competitors in the market. Not only the manufacturers but also the home made bakery products is also giving a tough competition to Britannia. Imitation of the product is very fast in the FMCG industry. And companies like ITC, Parle G, are giving direct competition in terms of new product development, market coverage, and gaining more market share. In this scenario Britannia should adopt a Push strategy of marketing and on the same time provide the retailers and distributors with more percentage of margin as compared to the competitors margin so that the retailers also try to sell the products in the market. Research and Development is also one of the major concern and should be taken over on a continuous basis as the customers taste and preference and buying behaviour is changing on a fast pace. Britannia should join hands with the Government initiatives and support the activities to gain a good image and presence in the mindset of every Indian consumer. Britannia will surely be able to fulfil its desired mission of making every third person the consumer of Britannia if it follows the path of innovation and diversification. 12
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https://www.livemint.com/market/stock-market-news/britannia-industries-share-price-rises-7-5-to-be-largest-gainer-amongst-nifty-50-stocks-whats-driving-the-gains-11714980714748.html
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Britannia share price rises 7.5%: largest gainer among Nifty-50 stocks post Q4 results: 3 key reasons driving the gains
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2024-05-06T13:29:59+05:30
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Stock Market Today: Britannia Industries share price gained more than 7% during intraday trades on Monday and was largest gainers in the Nifty-50 stocks. The stocks is also trading near 52-week highs What’s driving the gains explained
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mint
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https://www.livemint.com/market/stock-market-news/britannia-industries-share-price-rises-7-5-to-be-largest-gainer-amongst-nifty-50-stocks-whats-driving-the-gains-11714980714748.html
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Stock Market Today: Britannia Industries share price gained more than 9% during intraday trades on Monday. Trading with gains of close to 7.5% in the afternoon trades, Britannia Industries share price was largest gainer in the Nifty-50 stocks. Britannia Industries share price is also trading near 52- week highs seen during the month of December'2024. The gains for Britannia Industries share price are being driven by recovery expectations and some green shoots on rural recovery witnessed recently said analysts.
Britannia Industries had declared its Financial performance for Quarter ending March'2024 post market hours on Friday.
Britannia’s Consolidated Sales for the Quarter ended 31st March 2024 stood at ₹4,014 Crores, growing 3.1% over ₹3,892.02 crore during the same quarter last year. Its operating profit as per company stood at at ₹708 Crore (17.6% of Sales). The net profit at ₹536.61 crore nevertheless declined compared to ₹555.7 crore in the year ago quarter.
For the year ended 31st March 2024, consolidated revenue stands at ₹16,546 Crores growing 3.5% over previous year and operating profit stands at ₹2,869 crores growing 10.1% (17.3% of Sales)
it is the weak rural demand that had been weighing on performance of consumer companies including those of Britannia Industries and Britannia Industries share price.
Results meet expectations despite weak demand
Analysts at Nuvama Institutional Equities said that Q4 results were in line with their estimates
Analysts at ICICI Securities said that Consolidated gross margin remained stable at 44.9% as commodity basket prices largely remained stable. EBITDA margin though declined by 56bps sequentially to 19.4% driven largely by higher brand investments (other operating expenses were up 78bps YoY). The expectations of good wheat crop and good nonsoon expectations keep analysts optimistic on margins.
Market share maintained and expected to grow
Analysts at Nuvama Institutional Equities said that Britannia Industries focus states surpassed other regions in terms of growth, despite a generally subdued rural demand. Gross margins expanded by 107 basis points YoY and 113bp sequentially to 44.1%. Ebitda margin contracted by 56bp YoY to 19.4%. Rural demand which has been a laggard for FMCG industry is expected to revive in FY25 on the onset of likely strong monsoon. Analysts expect Britannia to be a beneficiary of this revival. Further, a good wheat crop output will aid margins.
Those at ICICI Securities said that market share gain trajectory despite resurgence of competition with correction in input prices is impressive (unlike other categories where large organized players have lost market shares).
Also the Distribution expansion also continues to be robust as per ICICI Securities with direct reach and rural distributors at 2.8 million outlets (versus 2.7 million as of March’23) and 30,000 (versus 28,000 as of March’23) respectively.
ICICI Analysts also say that the Focus states growth continues to outperform other regions led by distribution expansion. Organized trade (modern trade and e-commerce) had double-digit growth in FY24
Dividend approved
Meanwhile Britannia board has Recommended the final dividend for the financial year ended 31st March, 2024 @ 7350% i.e., Rs. 73.5/- (Rupees Seventy Three and Fifty Paise Only) per equity share of Re. 1 /- each to be declared at the 105th Annual General Meeting of the Britannia Industries to be held in August.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions
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https://www.campaignlive.com/article/uncool-britannia-uk-lost-its-global-appeal/1735874
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Uncool Britannia: has the UK lost its global appeal?
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Twenty-five years after a famous Vanity Fair cover story heralded the age of Cool Britannia, is the country’s deflated image on the international stage damaging our creative industries?. From Campaign US
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https://www.campaignlive.com/article/uncool-britannia-uk-lost-its-global-appeal/1735874?utm_source=website&utm_medium=social
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Brand Britain has taken quite a battering from the international media over these past 12 months. Once hailed as a globe-strutting player, awash with confidence and creativity, the nation is now increasingly portrayed as insular, parochial and nostalgia-obsessed. Coverage of shortages in fuel, food and the workforce has at times been damning, with Boris Johnson’s misfiring COP26 speech widely derided in the foreign press and The New York Times warning in October that the country was suffering a “deep sense of anxiety”. For an industry looking to sell the best of the country’s energetic creative spirit overseas, 2021 can only have been a challenge.
“It’s just insane, it’s like the end of empire,” according to James Brown, former editor of Loaded and GQ and author of an upcoming book looking back on his career as a music journalist in the 1980s and 1990s. “But it’s other industries that are struggling. They’re taking pigs out and shooting them, there are no lorries to be driven, but it’s not like they’re taking ad copywriters out and shooting them in Seven Dials or wherever they are. They aren’t slaughtering executive creative directors on Redchurch Street.”
Brown has a theory that intense creative periods usually follow difficult times socially; that the bright pop explosion of the 1960s was a follow-on from the relatively drab 1950s and that the coming together of talent in the 1990s had its roots firmly in the previous decade. “I do think that creativity will be inspired by the current difficulties,” he says. “A lot of my contemporaries who were doing very well in the nineties, whether they were fashion designers like Lee [Alexander] McQueen or record label owners like Alan McGee or comedians like Frank Skinner, Vic and Bob and so on, they’d kind of been through the dull period of the eighties and it was a reaction. All that stuff that happened in the nineties was fermenting and gathering pace in the late eighties.”
Punching above its weight
Twenty-five years ago, the headlines were about Cool Britannia. Now associated with Tony Blair and New Labour, the phrase was first used by Conservative secretary of state for national heritage (a forerunner of the Department for Digital, Culture, Media and Sport) Virginia Bottomley in a series of press releases in 1996. Later that year, a Newsweek piece celebrated London as a hip centre of popular culture. In 1997, with Labour in power, Vanity Fair detailed the overlap of culture and politics in a 25-page feature.
James Murphy, founder and chief executive of New Commercial Arts, believes the UK was punching a little above its weight on the global stage during the mid-1990s. “We’ve lost some of that lustre in terms of being sophisticated players, we’re probably seen as a bit clownish on the world stage, but hopefully that’s only temporary,” he says. “We’re trying to find a new position in the world.”
So far, that hasn’t had any adverse effect on NCA’s international client list. “There’s been no disruption to service in that sense of global thinking, because clients are still plugged into a city that’s essentially a global one,” Murphy adds. “If I was a politician or thinking about the country, that’s a bigger challenge, because what the changes of the last few years have meant is that London has become more separate from the rest of the UK than it was before.”
It has mostly been ever thus. For all the Union Flag waving during Cool Britannia, the majority of the international interest homed in on the capital. “One of the bigger challenges is to break the grip of London on the industry,” Murphy continues. During the summer, NCA opened an offshoot in Glasgow, a move prompted not by clients but by talent graduating from local colleges.
Diversity has always been at the heart of all the UK’s creative industries’ successes, home and abroad. In the aforementioned Newsweek article, US journalist Stryker McGuire wrote: “Arriving in droves, young advertising creative types come to London to hone their skills and soak up its famous nightlife. Immigrants from around the world pump new skills, innovation, enthusiasm and just plain hard work into a labour-hungry, creatively starved economy.”
Has that really all been lost now? At Leo Burnett London, chief strategy officer Josh Bullmore believes that creativity and politics in this country are veering off in very different directions, with the former becoming the focal point for a more inclusive set of global values. “The creative output works really hard to offset impressions of insularity that we might have,” he says, citing the examples of Adele and Ed Sheeran in music, with their international profiles, and global TV and streaming hits like Succession (created and written by Brit Jesse Armstrong), I May Destroy You and The Crown. And then there’s The Great British Bake Off, hugely popular in the States and much loved for its portrayal of a more caring and sharing Britain where competitors look out for each other. “People are able to divorce the politics from the popular culture that we’re putting out,” Bullmore adds. “You can’t by definition lead if you’re trying to hark back to the past, because others who are more in tune with the zeitgeist will overtake you.”
The great British identity crisis
Prompted in part by Brexit, Uncommon Creative Studio commissioned research asking respondents from around the world for their impressions of various countries. Most were able to give a single, immediate answer, often with no clichés spared (Germany: highly efficient, for example), but struggled to whittle Britain down to one easy soundbite. “They split it between the establishment and street culture,” Uncommon founder Lucy Jameson says. “People couldn’t settle on Britain as being one thing because both of those perceptions are in their heads. My feeling is that the establishment part is now even more insular, old-fashioned and backward-looking, but I suspect that the perception of street culture, of innovation, music, creativity, hasn’t really changed.”
Jameson believes that the physical limitations of lockdown allowed UK agencies and creatives to connect more globally and that, across the Atlantic, for a client on the East Coast, it’s just as easy for them to work with a well-connected British company than one on the US West Coast. That tallies with the experiences of Mary Portas, retail consultant, broadcaster and founder of the Portas Agency, who says that New York-based clients in particular have increasingly been turning to the UK for inspiration, despite all the political upheaval.
“If anything, the UK in our industry has always been seen as a seat of innovation and a creativity that puts a finger up to the societal norms, whereas New York was always big, brash, mass market,” Portas says. “A lot of innovation comes from countries who have had to find a new form of creativity because of what’s happened through Covid and, indeed, Brexit. I think to pick Brexit out of this is like a little pimple on top of a new landscape of a new skin that’s growing.”
Cool Britannia old and new (clockwise from top left): London 2012, the Spice Girls, the Beatles, writer, producer and actress Michaela Coel, and the cast of James Bond movie No Time to Die
Don’t write off creative Britain
Richard Huntington, chairman and chief strategy officer at Saatchi & Saatchi London, agrees that Brexit is something of a red herring (if not a pimple) and that British creativity can call on deep structures during troubling times. “It’s far more robust than one government, one political episode, one decade. Creative Britain is a lot stronger than middle England Britain or insular Britain, and far more enduring. Exporting six episodes of Vigil probably does more good for us than the harm done by a culture secretary who’s said that the BBC won’t exist in 10 years’ time.”
For all that, Huntington wants the industry to embrace the challenges of standing up for the wider arts and cultural framework. “Our brand has always done well when it’s had something to kick against, to be angry about and be passionate about,” he says. “We need to feed the hand that feeds us. Stand up for arts funding and the education system and we will resolve the mother culture of advertising.”
Bullmore echoes the idea that British creativity remains in good health, but is equally cautious about the coming months and years. “Its value is that it’s a source of soft power and hard cash,” he says. “There’s a bit of a virtuous cycle that could be undermined, because we’re a highly creative, literate domestic market. And I think that’s why we’re such a good exporter, because we’ve got institutions and a culture that has fostered creativity, and that then grows the appetite of British audiences.
“There’s a risk of that being undermined because the institutions that foster the creativity are feeling less confidence, so you’ve got the BBC and Channel 4 under threat and you’ve got politicians trying to curtail their strength. And if they start getting more risk averse, that virtuous cycle risks becoming a vicious cycle. We’ve got such a long heritage of producing world-class creativity and people but I feel like we’re storing up problems for the future.”
At the Advertising Association, chief executive Stephen Woodford has been campaigning for the industry as a key exporter in a post-Brexit world, while also highlighting the influence of overseas talent and how that in turn helps attract overseas clients. In March 2020, the AA launched the UK Advertising Export Group in partnership with various government departments, including the Department for International Trade and DCMS, promoting British adland creativity abroad. “Advertising needs to be seen as one of the crown jewels of UK creative industries alongside film and music,” Woodford says. “The work attracts the talent and the talent attracts the work. That’s why we make the best stuff. The biggest threat is, do we still attract talent? And it’ll be 10 years before we know the answer.”
In the meantime, a cautious optimism remains, prompted in part by the twin disruptions of Brexit and Covid. “There are lots of things in the mix that are making us look at things afresh, and personally that’s really exciting and I think Britain’s got lots of opportunity,” Jameson says. “And if your clients are on the right side of that, then I think it’s super powerful. I feel weirdly optimistic, but I’m not denying that the perceptions of us around the world as a reliable, sensible, smart, tolerant nation have definitely been harmed. I don’t think that perception of the UK as being creative has yet been dented, but we’re going to have to hold on to that carefully, because it will be a massive shame if we lose that.”
Brown is equally confident, and adds that any stagnation and insularity is generally among an older crowd: “Younger people out there are just getting on with it. I don’t think a traffic jam outside Folkestone is going to fuck up a young creative’s outlook. You’ve only got to scroll through Instagram for a few hours and you see all this brilliant British creativity.”
Advertising's added value
Published earlier this year, the Advertising Association’s third UK Advertising Exports Report values the country’s advertising and market research services at £11bn in exports for the year ending 31 December 2019. That represents a 7% increase from £10bn in 2018 and, taken over the period 2013-19, a compound annual growth rate of 15.3%.
That puts the industry third in the list of key service sector exporters, behind insurance and pension services (worth £20bn over the same period) and computer services (£12bn) and ahead of engineering (£8bn) and legal services (£7bn).
The US remains the largest market, importing more than £1bn of UK advertising and marketing research services, followed by France (£785m), Germany (£712m), Switzerland (£643m) and Ireland (£539m). European Union countries account for 40% of UK advertising, market research and opinion polling services exports.
Another AA report from this year, Powering Up UK Advertising Exports, anchored around research carried out by industry think tank Credos, found that creativity, quality of talent and global reputation were principal drivers for the years of growth. The report found that international clients view UK advertising as strategic and business savvy, beyond the reach of other markets. One survey respondent was quoted as saying that “the diverse talent pool in the UK leads to quality conceptual creatives who have an ability to tap into core human traits, resonating globally”.
The AA readily admits that estimating the export value for 2020 will be no easy task, given the constraints and challenges of Covid, but remains cautiously upbeat about the industry’s relatively good health and confident that any decrease will quickly be offset by a more positive bounceback figure for 2021.
However, it does add that the Brexit factor is the great unknown in all of this, with the various knock-on effects regarding EU business travel yet to be fully realised and data from the Office for National Statistics unavailable until later on next year.
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Share, Trends & Industry Analysis
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The Biscuits Market is expected to reach USD 132.43 billion in 2024 and grow at a CAGR of 5.01% to reach USD 169.10 billion by 2029. Yıldız Holding Inc., Mondelēz International, Inc., ITC Limited, Britannia Industries Limited and Parle Products Private Limited are the major companies operating in this market.
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https://s3.mordorintelligence.com/favicon.ico
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https://www.mordorintelligence.com/industry-reports/biscuits-market
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Biscuits Market Analysis
The Biscuits Market size is estimated at USD 132.43 billion in 2024, and is expected to reach USD 169.10 billion by 2029, growing at a CAGR of 5.01% during the forecast period (2024-2029).
Consumers' preference for convenient, healthy snacking options drives the demand for nutritious oat- and nut-based biscuits. Market players are introducing biscuits in different flavors, shapes, and creams targeted toward children. For instance, in April 2022, Koobi launched the 5D Fun Chocolate and Milk Biscuits in Malaysia. These animal-shaped biscuits, available in chocolate and milk flavors, aid in children's learning and cognitive capacities. Additionally, the recent trend of on-the-go food products has become a significant factor driving the market. This trend is one of the essential considerations for customers when purchasing food products. In addition, frequent launches of new formulations in the primary outcome, such as low-fat, gluten-free, low-carb, organic, and high-fiber biscuits, to attract consumers are expected to fuel the market growth.
Regarding segmentation by type, sweet biscuits are the fastest-growing sub-segment owing to their taste and incorporation of healthy ingredients. Moreover, fortified biscuit products infused and replaced with oats, millet, and other nutritional ingredients instead of wheat are gaining popularity in the market. This is mainly due to the increasing prevalence of chronic diseases such as diabetes, hypertension, and other digestive troubles that can be reduced with proper diet.
Companies actively participate in in-store promotions, emphasizing new product development and marketing communications. These promotions, such as extra-value packs or buy one, get one free deal, primarily aim to help consumers save money. Moreover, online sales of biscuit products are rapidly growing in terms of distribution channels, attracting numerous vertical specialists like Amazon, Walmart, Carrefour, and others who are capitalizing on the increasing e-retail trend.
Biscuits Industry Overview
The global biscuits market is highly fragmented in nature, with various players operating in the market. Competition is intense among key players, with virtually no entry barriers due to the almost 100% penetration of the products. Many premium, functional biscuits have hit the market, giving the market leaders a run for their money. Major players are focusing on introducing new product offerings in the market to cater to the interests of consumers' tastes and preferences. Some major players operating in the market are Yildiz Holding Inc., Mondelez International Inc., ITC Limited, Parle Products Private Limited, and Britannia Industries Limited. Since sweet biscuits have a significant role in the bakery and snacks market, top companies deliver various flavors and variants of biscuits to satisfy consumers' taste demands.
Biscuits Market Leaders
Yıldız Holding Inc.
Mondelēz International, Inc.
ITC Limited
Britannia Industries Limited
Parle Products Private Limited
*Disclaimer: Major Players sorted in no particular order
Need More Details on Market Players and Competitors?
Download PDF
Biscuits Industry Segmentation
Biscuits are flour-based baked food products, typically hard, flat, and unleavened.
The biscuit market is segmented by type, distribution channel, and geography. By type, the market is segmented into crackers and savory biscuits and sweet biscuits. Crackers and savory biscuits are further sub-segmented into plain crackers and flavored crackers. On the other hand, sweet biscuits are further sub-segmented into plain biscuits, cookies, sandwich biscuits, chocolate-coated biscuits, and other sweet biscuits. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, specialist retailers, online retail stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, the Middle East and Africa.
The market sizing has been done in value terms in USD for all the abovementioned segments
Type
Crackers and Savory Biscuits Plain Crackers Flavored Crackers
Sweet Biscuits Plain Biscuits Cookies Sandwich Biscuits Chocolate-coated Biscuits Other Sweet Biscuits
Distribution Channel Supermarkets/Hypermarkets Convenience Stores Specialist Retailers Online Retail Stores Other Distribution Channels
Need A Different Region Or Segment?
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Biscuits Industry Report
The global biscuits market is thriving, driven by dynamic consumer preferences for convenience snacking and a diverse array of flavors. The market encompasses a variety of product types, including crackers, savory and sweet biscuits, with further variations such as plain crackers, flavored crackers, cookies, sandwich biscuits, and chocolate-coated biscuits. The primary ingredients like wheat, oats, and millets cater to various dietary requirements. Key distribution channels include supermarkets and hypermarkets, noted for their diverse product offerings, while online stores are becoming increasingly popular due to their convenience and broad selection. Additionally, packaging innovations such as pouches, jars, and boxes are critical as they ensure product longevity and appeal. The market is also seeing growth in health-conscious offerings like gluten-free and organic biscuits. Overall, continuous product innovation and strategic distribution network expansions are essential for meeting consumer demands and enhancing market accessibility and visibility. For in-depth analysis and market forecasts, a report by Mordor Intelligence™ offers a detailed overview. Get a sample of this industry analysis as a free report PDF download.
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Global Biscuits Market Size & Share: Industry Report, 2022
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<p>Global Biscuits Market industry report focuses on the current market size, share, and COVID-19 Impact. CAGR of 5.81% (2020-2027), Market Size: US$185.553 billion in 2027.</p>
|
en
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Knowledge Sourcing Intelligence LLP
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https://www.knowledge-sourcing.com/report/global-biscuits-market
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The global biscuit market was evaluated at US$125.001 billion in 2020, growing at a CAGR of 5.81% reaching the market size of US$185.553 billion by 2027.
The rising trend of healthy snacking, increasing per capita food consumption, and the convenience imparted by the biscuit's innovative packaging are the primary drivers of the global biscuit market’s growth during the forecast period. Additionally, the rising health awareness and its acknowledgement by the market players are incentivizing them to invest more in product innovation and development, thereby facilitating the expansion of their product portfolio, thus, aiding in the global biscuit market’s growth. The aforementioned has also emerged as integral to competition among industry players, which further allows them to focus on enhancing the efficacy of their entire value chain. With regards to the APAC region, it should be noted that consumers of the emerging economies are proactively willing to move away from their known brands and experiment with regional flavours as well as healthier options, as exemplified by the launch of high-protein biscuits, addressing the need for more protein-based food and drinks by companies like Hershey and United Biscuit. The other health value benefit is digestion, which is being increasingly offered by digestive biscuits. This gradual shift in consumer preferences is also being captured by biscuit market players' tactful dissemination of information about their nutritional ingredients, thereby increasing their brand visibility. Furthermore, as consumers are looking forward to less processed food, the players in the biscuit market are increasingly investing in the inclusion of natural ingredients.
Moreover, aspects such as the increasing availability of disposable income due to the growing middle-income group along with expanding urban aspirations are fueling the premiumization of low-calorie indulgences that are increasingly being exemplified by products with inclusions such as nuts, fruits, and so on. In certain established markets, such as those in the occident, where the association of biscuits with tea and coffee is unbreakable, consumers are less likely to experiment and experience a new sensation and are more likely to settle for the most dependable products that they are familiar with. This has also led to biscuit makers attempting to shift the consumers away from their regular preferences with out-of-the-box offerings, as exemplified by Pladis’ Flipz, launched in June 2019 which is milk and dark chocolate pretzels designed to capitalize on the growing appetite for sweet and savory combinations. Further, as an effect of changing lifestyle that is ubiquitous consumers are inclined towards biscuits that offer the conveniences of bite-sized treats that deliver the ultimate taste. To this end, Mondelez launched their Joy fills the same year, in August. Along the same lines, the launch of Choco Leibniz Snack Packs and Choco Moments range by Bahlsen GmbH & Co. KG. further reaffirms the endeavour by market players to appeal to customers with new ideas who are intrinsically driven by habits. The launch was coupled with a media campaign, in-store sampling, and smartphone app coupons to facilitate the consumer-habit disruption close to the point of purchase, among others, since the majority of biscuit purchases are unplanned.
While the above provides a panoptic view of the consumers’ purchasing proclivities and the market players’ innovative endeavours, the biscuit market segment has witnessed a plethora of development in recent times. In May 2018, it was reported that private-label manufacturer Biscuit International, owned by French private equity firm Qualium Investissement, had acquired Northumbrian Fine Foods (NFF), the UK’s largest gluten- and milk-free sweet biscuit manufacturer, from CriSeren Foods to expand its product offering and geographical footprint in both the UK and EU. In September 2019, it was reported that Burton’s Biscuit Company had acquired Paterson Arran, one of Scotland’s leading independent food companies, broadening its product portfolio as well as sustaining its growing presence in the biscuit market. This is the second major acquisition by the Burtons during 2019. It was succeeded by the acquisition of Thomas Fudge’s, the premium sweet and savory branded and own-label biscuit manufacturer, which bakes Marmite products under license, from private equity rm Livingbridge. In January 2020, it was reported that Burton’s Biscuit Company had launched Maltesers Biscuits. Although faced with tough competition from other kinds of snacks, biscuits are recognized and appreciated for their ability to satiate both yearnings and hunger. Through innovative formulation and premiumization, the market for biscuits will be poised to attract more consumers, resulting in healthy growth during the forecast period.
Europe is anticipated to hold the largest market share
The industry is fueled by consumers in Europe's growing need for quick snacks made with nutritious components. According to the type of biscuit and the size of the box, consumers in the UK and Germany are also motivated by indulgence. The consumption of healthy biscuits in the area is rising as a result of the constant introduction of a wide variety of new goods, including morning biscuits, "thins," free-from alternatives, and healthy biscuits. Additionally, Mondelez International launched a Cadbury-branded biscuit with the choice of eating the product warm straight out of the microwave as part of its strategy to target the luxury biscuits segment in the United Kingdom.
Recent Developments and expansions
In June 2020, Arnott’s Biscuits Limited launched three products namely: Lamington flavoured Iced VoVo; Mud Cake flavoured Shortbread Cream, and Salted Caramel Tart flavoured Scotch Finger, which has been Australia’s favourite desserts.
In May 2020, Edita Food Industries S.A.E launched a new product, Oniro to create a new revenue stream for the company, among others
The takeover of Gourmet Food Holdings Pty Ltd, an Australian food firm that sells high-end crackers and biscuits, was announced by Mondelez International in 2021. Mondelez hopes to expand its leadership in snacking in New Zealand and Australia through this acquisition.
Under the Club & Town House brands, Kellogg's debuted two thinner and crispier cracker varieties in 2021. Town House Dipping Thins in Sea Salt & Black Pepper as well as Club Crisps in Sea Salt and Ranch taste were introduced by the brand.
COVID-19 Impact on Global Biscuits Market
The COVID-19 pandemic had a positive impact on the biscuit market. The disruption of supply chains had a detrimental effect on the market as it forced businesses to close their plants or operate with fewer employees, which reduced production. However, consumers stockpiling products with a long shelf life, such as biscuits, led to an increase in product demand. The demand for wholesome oat- and nut-based biscuits was nevertheless fueled by consumers seeking out quick, wholesome snack options.
Global Biscuits Market Scope:
Report Metric Details Market size value in 2020 US$125.001 billion Market size value in 2027 US$185.553 billion Growth Rate CAGR of 5.81% from 2020 to 2027 Base year 2020 Forecast period 2022–2027 Forecast Unit (Value) USD Billion Segments covered Type, Distribution Chanel, And Geography Regions covered North America, South America, Europe, Middle East and Africa, Asia Pacific Companies covered Mondelez International, Inc., Arnott’s Biscuits Limited, Bahlsen GmbH & Co. KG., Britannia Industries, Burton's Biscuits Co, CAMPBELL SOUP COMPANY, Edita Food Industries S.A.E, ITC Limited, Kellogg Co., Lotus Bakeries Corporate, Nestlé, Parle Products Pvt. Ltd., Yildiz Holding Customization scope Free report customization with purchase
Segmentation
By Type
Crackers & Savory Biscuits
Sweet Biscuits
By Distribution Chanel
Online
Offline
Supermarket
Convenience Store
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Others
Middle East and Africa
Israel
Saudi Arabia
South africa
Others
Asia Pacific
China
Japan
South Korea
India
Australia
Indonesia
Others
Frequently Asked Questions (FAQs)
Q1. What will be the biscuits market size by 2027?
A1. The global biscuits market is projected to reach a market size of US$185.553 billion by 2027.
Q2. What is the size of the global biscuits market?
A2. Global Biscuits Market was valued at US$125.001 billion in 2020.
Q3. What are the growth prospects for the biscuits market?
A3. The biscuits market is projected to grow at a CAGR of 5.81% over the forecast period.
Q4. What factors are anticipated to drive the biscuits market growth?
A4. The rising trend of healthy snacking and the increasing per capita food consumption, as well as the convenience which is imparted by the biscuit's innovative packaging, are the primary drivers for the global biscuits market growth during the forecast period.
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https://m.economictimes.com/industry/cons-products/fmcg/britannia-aims-global-presence-double-turnover-in-5-years/articleshow/55563233.cms
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Britannia aims global presence, double turnover in 5 years
|
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2016-11-22T18:32:00+05:30
|
Britannia, which would primarily target the developing countries, is expecting that exports would contribute around 14-15 per cent of its turnover in next 4-5 years.
|
en
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https://economictimes.indiatimes.com/icons/etfavicon.ico
|
The Economic Times
|
https://m.economictimes.com/industry/cons-products/fmcg/britannia-aims-global-presence-double-turnover-in-5-years/articleshow/55563233.cms
|
Synopsis
Britannia, which would primarily target the developing countries, is expecting that exports would contribute around 14-15 per cent of its turnover in next 4-5 years.
BENGALURU: Bakery and dairy products major Britannia Industries Ltd, which is aiming to double its turnover in next four to five years, would expand offshore presence as it aspires to become a global company.
Britannia, which would primarily target the developing countries, is expecting that exports would contribute around 14-15 per cent of its turnover in next 4-5 years.
Besides this, Britannia would invest a capex of Rs 300-350 crore every year for the next 3-4 years to ramp up its capacity and roll out new categories which would be funded internally.
"In the next 5 years, I would see this going from eight per cent to 14-15 per cent," said Britannia Industries Managing Director Varun Berry.
Asked about the region which would lead growth, Berry said: "It would all be developing countries. We are not going to developed countries as it does not make sense."
Presently, export contributes eight per cent to the turnover of the company.
Part of the strategy would be expanding to countries which have similar business environment as India. It may also go for acquisitions if it gets the right candidate.
Britannia, which is currently limited to bakery and dairy segment, would venture into new categories to be a complete food company.
"Our first step would be the countries, which has environment similar to ours. The strategy would be to seed in our products in these countries, establish a little bit of space and then start to think of a manufacturing facility there. In the meantime, if some good opportunities (acquisitions) comes up in some countries, then we would look at that as well," Berry said.
He further added: "Today, we are not a food company. We are broadly a bakery company only which also does dairy. We truly want to be a food company as we go forward. Its our vision to make Britannia not just an Indian food company but a global food company. We want our footprint across the globe and made some move in that direction and a lot more would be coming in future."
Britannia clocked a revenue of Rs 7,947.90 crore in FY 2015-16 and plans to double it in next 4-5 years with growth in current business and new categories in which it plans to enter.
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Assessing the worldâs 350 most influential food and agriculture companies
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2020-06-10T12:04:35+00:00
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We assessed food companies on their environmental, social and nutritional impact. Who are the leaders? Who are the laggards?
|
en
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World Benchmarking Alliance
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https://www.worldbenchmarkingalliance.org/publication/food-agriculture/
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Sustainable development strategy
The company does not disclose a sustainable development strategy that includes sustainable development objectives and targets, nor an identification and prioritisation process to determine the topics where it has the most impact.
Governance and accountability for sustainable development strategy
The company does not disclose the governance structure for the implementation of its sustainable development strategy or targets, such as the person, team or committee that holds ultimate responsibility for its implementation.
Stakeholder engagement
The company does not disclose stakeholder engagement activities, including how it selects the stakeholders, nor an overview of the topics discussed or their outcomes.
Scope 1, 2 and 3 greenhouse gas emissions
The company does not disclose quantitative evidence to demonstrate that it is reducing its scope 1 and 2 GHG emissions.
Protein diversification
The company does not disclose that it is diversifying its protein portfolio, for instance, by increasing the proportion of plant-based proteins
Fertiliser and pesticide use
The company does not disclose that it is adopting sustainable production practices that optimise the use of fertilisers and pesticides.
Water use
The company does not disclose that it is reducing water withdrawals across its operations and supply chain.
Food loss and waste
The company does not disclose that it is addressing food loss and waste in its own operations. The company has an opportunity to disclose a commitment by demonstrating policies and/or activities that tackle food loss and waste.
Animal welfare
The company does not disclose that it is addressing key animal and aquatic welfare issues for its relevant key species in its own operations and supply chain. It has an opportunity to disclose a commitment that addresses key issues for animal and aquatic welfare across its relevant species, geographies and products.
Availability of healthy foods
The company does not provide evidence of improving the nutritional quality of its products and of proportionally increasing the sales of healthy and nutritious foods.
Accessibility and affordability of healthy foods
The company does not disclose a commitment and activities to improve the accessibility and affordability of healthy foods for vulnerable groups.
Clear and transparent labelling
While the subsidiary Britannia Industries commits to provide nutrition information through back-of-pack labelling, no such commitment was found at the group level.
Accessibility and affordability of healthy foods
While the subsidiary Britannia Industries discloses a marketing communications policy which outlines its approach including to children under 12 years old, no disclosure was found at the group.
Food safety
While the company discloses evidence that some sites of its own operations through Britannia Industries are certified to the ISO 22000 standard, it does not demonstrate that all its own operations are certified to a Global Food Safety Initiative (GFSI)-recognised food safety scheme programme or other widely recognised certification.
Child and forced labour
The company does not disclose a commitment to prohibit child and forced labour in its operations and supply chain
.Living wage
The company does not disclose that it pays its workers a living wage or requires its suppliers to do the same. Neither has it set targets to do so in the future.
Health and safety of vulnerable groups
The company does not specifically recognise the health and safety risks to vulnerable groups, such as migrant and temporary labourers, women, and young farmers.
Farmer productivity and resilience
The company does not disclose a commitment or examples of activities to support the resilience, productivity and access to markets for farmers and small-scale producers in its supply chain.
Land rights
The company does not commit to recognising and respecting the legitimate tenure rights related to the ownership and use of land of local communities.
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The Complete Toolbox For Investors
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Britannia Industries: A legacy known to make delicious snacks trusted by millions
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Britannia: Trusted for snacks, dairy in India for 100+ years. Delicious biscuits, cheese, cakes & more in 80+ countries.
|
en
|
/images/brit-fav.ico
|
https://www.britannia.co.in/
|
OUR EXCITING LIFE AT BRITANNIA
WE MAKE Ti)NGS HAPPEN
If there were a soundtrack for life, whenever something cool happens, the background would go TING! Life at Britannia is about chasing the TINGs. Our vision is to be a Responsible Total Foods Company, serving products that brim with exciting goodness, through the day. We do that by working together as a creative, energetic and passionate team.
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‘Democratising high quality’: India’s Britannia Industries ramps up international focus with first export-oriented factory
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2019-06-12T00:00:00
|
Indian bakery goods giant Britannia Industries is looking to ramp up its international business focus with the development of its first export-oriented factory.
|
en
|
/bundles/wrbmgbsite/images/favicon/foodnavigator_asia/favicon.ico
|
foodnavigator-asia.com
|
https://www.foodnavigator-asia.com/Article/2019/06/12/Democratising-high-quality-India-s-Britannia-Industries-ramps-up-international-focus-with-first-export-oriented-factory
|
The factory was launched last year in the Western Indian state of Gujarat, and is the product of INR160bn (US$22.9mn) worth of investment, according to Britannia Industries’ CEO of International Business Annu Gupta.
“The factory is the first facility that is 100% export-oriented – this means that not one single biscuit from there will be sold in India,” Gupta told FoodNavigator-Asia.
Outside of India, Britannia sees Singapore, Australia, New Zealand, the UAE, Nepal and Saudi Arabia as some of its most important markets, in addition to the United States and Canada.
“South East Asia has also been identified as one of the focus geographies for Britannia over the coming three years, and this significant capability enhancement [will certainly benefit this region].”
Major South East Asian markets for Britannia include Singapore, Philippines, Malaysia and most recently Myanmar.
Apart from the factory in Gujarat, the company also established local manufacturing facilities for some of its major markets, such as Nepal in April this year with the idea of directly supplying to the country and its adjoining regions.
“[The idea here] is that we must be far more locally available, especially in large markets [for Britannia], and this is a way to expand our presence in these markets,” said Gupta.
“We also see that there are some good locations in South East Asia, such as in Indonesia, Malaysia and Myanmar, but we will wait will we achieve critical mass in the region before taking the next step.”
Global and total foods company
Gupta added that Britannia CEO Varun Berry has placed much emphasis on developing the company to be a ‘truly global and total foods company’ since he took on the mantle in 2014.
“To be global means to expand our presence worldwide, and we’re looking that setting up more hubs to do that especially in South East Asia and Africa,” he said.
“As for becoming a total foods company, this means that we are looking at expanding our presence into other categories and segments out of bakery, for example into macro-snacking like wafers and into value-added dairy.”
Another overarching goal for the company is to provide ‘world-class products at the best value’, by using the ‘best ingredients from the best locations’ via secret recipes formulated over many years.
“Britannia has literally democratized the whole concept of high-quality products at affordable prices, making it possible for every average person in every level of society to afford our products and providing good value for money,” added Gupta.
Challenges
In response to queries about the major challenges that the company has faced so far in its 101 years of history, Gupta highlighted dealing with counterfeits and imitation products as one of the major issues he has had to deal with.
“We have seen the copying, duplication and imitation of not so conscientious parties happen many times, and the way we deal with this challenge is to overcome this competition with further innovation to provide the best value,” he said.
“We see these more as a catalyst to not only improve and do better, but also to learn how to become more efficient.”
In terms of sales volume and market share, it appears that this has paid off for Britannia – the company gained some 5% market share or 600 business points over the last six years in India despite the ‘spurious activities’ by counterfeiters, and Gupta is confident that this will continue to grow
Trends and innovations
In terms of innovation, Britannia houses its own in-house research centre complete with scientists and food technologists to make sure innovation is fast-paced.
“From the bakery space to health, chocolate, salty snacks, dairy and more, we are looking at innovation and NPD in all of these areas,” said Gupta.
“One of the key factors we are careful to pay attention is to make products ‘healthy yet tasty’, making sure that the excitement factor associated with our branding is not lost.
“The other is localisation – it is very important to cater to the local tastebuds of consumers in different geographies, and [because we are in over 79 countries worldwide, we need to be careful about this too.”
With regard to adapting to the healthy product trend, Gupta told us that Britannia is set to roll out norms with regard to sugar and salt reduction in the near future.
“This will be done in phases, and we will try to reduce by 5% in each phase. We are working with food safety authorities in India and the Gulf region to do this, and it will proceed through a calibrated approach,” he added.
A major goal for Britannia this year is to improve on the growth rate it has seen across the last five to seven years, and make sure this growth is sustainable.
Although Gupta remained coy on the actual targets, the company’s 2017-2018 Annual General Meeting report stated that consolidated revenue growth in 2018 stood at 9.7%, and consolidated profit growth in 2018 stood at 13.5%.
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https://www.thehindu.com/business/Industry/britannia-closing-iconic-unit-sparks-concern-of-flight-of-industry-from-west-bengal/article68332409.ece
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en
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Britannia closing iconic unit sparks concern of ‘flight of industry’ from West Bengal
|
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2024-06-25T22:07:00+00:00
|
Britannia Industries faces controversy over factory closure in Kolkata, sparking debate on industry flight from West Bengal.
|
en
|
https://www.thehindu.com/favicon.ico
|
The Hindu
|
https://www.thehindu.com/business/Industry/britannia-closing-iconic-unit-sparks-concern-of-flight-of-industry-from-west-bengal/article68332409.ece
|
With FMCG major Britannia Industries Limited notifying the stock exchanges that all permanent workers at its Taratala factory in Kolkata have accepted voluntary retirement, a fresh row has erupted over the flight of industry from West Bengal.
The Bharatiya Janata Party (BJP) leadership described the development as “shutdown of Britannia Industries’ factory” even though the company said there would be no material impact on the business operations of Britannia Industries.
“The Britannia factory, once a beacon of industrial vitality in Bengal, suffered significant attrition during the Left regime due to the CPI(M)’s pervasive ‘Unionbaji’. TMC’s relentless ‘Tolabaji’ was the final nail in the coffin, which ultimately led to the demise of the factory,” BJP IT cell chief Amit Malviya said.
Mr. Malviya, the BJP’s co-incharge of West Bengal, said the State is already mired in “severe unemployment exacerbated by the TMC’s extortion and syndicate, now faces an even more dire predicament with the factory’s closure, triggering massive layoffs”.
In an intimation to the stock exchanges on June 20, the company informed that all permanent workers of the Taratala factory had accepted the voluntary retirement scheme. According to sources, there were about 122 permanent workers.
“The production at the plant has been suspended for about two weeks, this resulted in the workers accepting the terms of the VRS. Now the management is in talks with the contractual workers,” Gautam Roy, a leader with Centre of Indian Trade Unions (CITU), the labour arm of Communist Party of India (Marxist), said.
The development has triggered strong reactions because Britannia has been one of major brands operating out of the State and the factory at Taratala has been an iconic landmark in Kolkata.
Questions have also been raised about the fate of the land of Taratala factory located on 11 acres belonging to Kolkata Port. Mr. Roy said the land was on lease agreement renewed in 2018 for 30 years, extending to 2048.
Political analyst Kanchan Gupta took to social media and said that it is “strange feeling to learn that Britannia has shut its machines and switched off its lights at its sprawling factory in Kolkata”.
“I guess this was inevitable. In its mandatory filing at the NSE, Britannia has said employees have accepted a ‘voluntary retirement scheme’ and that shutting of the factory “would not have any material impact on the business operations of the company”. It means Britannia will maintain its earnings minus its operations in Calcutta,” he posted on X.
Local Trinamool councillor Anwar Khan said Britannia shutting down its unit is a business decision and has nothing to do with the industrial climate of the State. “The company has already set up a unit in Dankuni,” he said.
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https://www.pocketful.in/blog/britannia-industries-ltd-case-study-business-segments-kpis-financials-and-swot-analysis/
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Britannia Industries Ltd Case Study: Business Segments, KPIs, Financials, and SWOT Analysis
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2024-04-03T06:33:17+00:00
|
Get a comprehensive overview of Britannia Industries Ltd's business segments, KPIs, market data, financials, and SWOT analysis.
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en
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Pocketful
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https://www.pocketful.in/blog/britannia-industries-ltd-case-study-business-segments-kpis-financials-and-swot-analysis/
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We all have experienced the brilliance of Britannia, but very few know its story. So today, we will explore Britannia’s success story. We’ll start with the company’s overview.
Overview
Established in 1892, Britannia Industries Ltd. is one of India’s oldest food product companies and holds a significant position in the country’s biscuit industry. It is Kolkata-based and a part of the WADIA Group.
It is an iconic brand and reaches over 50% of Indian homes. Britannia has been in this business for over a century, building a loyal consumer base with strong and deep emotional connections. The company’s R&D team plays a vital role in maintaining and innovating a vast portfolio, ensuring it aligns with consumer preferences while prioritizing quality.
Awards and Recognition
2011 – The Indian Merchants’ Chamber.
2012 – The Golden Peacock National Quality Award.
2014 – 100 Most Trusted Brands of India list.
2016 – Renewable Energy India Awards.
2019 – Brand Equity’s Most Trusted Brands.
2022 – Ranked 4th in the list of India’s most chosen FMCG brands.
Segments
Britannia served many finger-licking products. Such as:
Biscuits: Britannia is one of the leading biscuit manufacturers in India, with popular brands such as NutriChoice, Milk Bikis, Bourbon, Good Day, 50-50, Marie Gold, Nice Time, and Little Hearts. Britannia biscuits are available in various segments, such as cookies, crackers, cream, health, and treats.
Rusk: Britannia Rusk is a crispy and crunchy snack made from wheat flour, sugar, and butter and comes with various flavours of elaichi, milk, and suji toast
Cakes: Britannia cakes include fruit cake, nut & raisin cake, chocolate cake, muffins, cupcakes, and brownies.
Snacks: Britannia snacks are tasty and ideal for enjoyment anytime, anywhere. Britannia snacks include wafers, salted snacks, and nuts.
Bread: Britannia Breads offers wheat bread, multigrain bread, fruit bread, sandwich bread, pav, bun, and kulcha. They are made from high-quality ingredients and are enriched with essential nutrients.
Competitors
The company faces tough competition from the following players:
Nestle
Mother dairy
TATA
Parle
Amul
Market Data
Financial Highlights
Income Statement
The graph indicates a growing trend in both Operating income and Net Profit. This shows a healthy state of the business.
Balance Sheet:
The company has seen a consistent level of current liabilities but an increase in current assets. They have also witnessed an increase in non-current assets, which are primarily fueled by growing non-current liabilities.
Cash Flow Statement
The Cash Flow situation indicates a strong operating position but a weak investing position. This means that the company invests heavily in the long run, which is financed by financing activities.
Profitability Ratios
Peer Comparison
SWOT Analysis
Strengths
Britannia has been in the industry for more than 100 years. The company has created its space in every Indian household and a strong brand identity.
The company used an 80:20 growth strategy where it focused on 20% of the brands like Marie Gold, Good Day, Milk Bikis & Nutri Choice, which contribute 80% of the company revenue. This process of putting some products on a priority list enabled the company to increase the efficiency of the production line.
The company is working on new market innovations, which means adjusting the market according to consumer tastes and preferences. It helps to explore new flavours while leveraging current and new technologies.
Weaknesses
Britannia is not able to maintain a proper overseas presence because of tough competition in the international market.
The competitors in the Food Processing industry can easily imitate the business model.
Opportunities
Accelerating technological innovation can lead to an increase in industrial productivity, allowing the company to capture greater market share.
The company can choose to acquire other companies in the dairy industry to increase its market share.
Threats
An increase in the price of the raw material will eventually increase the cost of the product, leading to a slowdown in sales.
Changing political environments can impact the industry’s growth both in the local and international markets.
Conclusion
Britannia Industries Ltd has established itself as a prominent player in the Indian food industry with a strong brand identity and loyal consumer base. The company’s focus on key brands, innovation, and market adaptation presents growth opportunities, while challenges such as international competition and raw material price fluctuations pose threats to its continued success. Over the next five years, the company expects to increase the contribution of its non-biscuit portfolio to approximately 35% of total revenue, up from the current 23%. Additionally, there is an ambition to scale the dairy sector to ₹2,000 crore within the same time.
However, it is important to know that investing before conducting prior research can expose you to undue risks.
Frequently Asked Questions (FAQs)
What are the problems faced by Britannia?
Ans. The problems faced by Britannia are rising interest rates, high commodity prices, and geopolitical conflicts disrupting supply chains.
Who is the CEO of Britannia?
Ans. Rajneet Singh Kohli is the CEO of Britannia.
What is the market cap of Britannia Industries Ltd.?
Ans. As of 2nd April 24, the market cap of the company is ₹1,18,024 Cr.
What are the main segments of Britannia?
Ans. The company’s key segments are Biscuits, Rusk, Cakes, Snacks, and Bread.
What is the parent company of Britannia?
Ans. Wadia Group is the parent company of Britannia Industries Ltd.
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https://www.statista.com/statistics/1006030/india-britannia-share-of-profit-from-operations/
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Britannia: year-on-year growth rate of profit from operations 2023
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As of fiscal year 2023, Britannia reported an annual growth rate profit from operations of above 16 percent.
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Statista
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https://www.statista.com/statistics/1006030/india-britannia-share-of-profit-from-operations/
|
Supplementary notes
Values have been rounded for clarity.
India's financial year begins in April and ends in March. For example, FY 2022 started in April 2021 and ended in March 2022.
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https://www.ukessays.com/essays/tourism/a-strategic-report-on-the-britannia-international-tourism-essay.php
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en
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A Strategic Report On The Britannia International Tourism Essay
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2023-11-06T20:30:17+00:00
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This is the strategic report on the Britannia International Hotel industry. It discusses the scheme of the strategic management in the business with the analysing of the tools of the strategy in the d
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en
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https://www.ukessays.com/essays/tourism/a-strategic-report-on-the-britannia-international-tourism-essay.php
|
This is the strategic report on the Britannia International Hotel industry. It discusses the scheme of the strategic management in the business with the analysing of the tools of the strategy in the day to day operations of the business. Strategic report is focusing on the impact analysis of the business strategy of the hotel industry with the giving of the overall view on the strategic management scheme in the hotel industry. It is ideally giving of the recommendation for the improvement of the performance level of the hotel industry in the current market with the adoption of the suitable , feasible and acceptable techniques of the Hospitality Management to improve the level of the performance in the business.
This is the strategic assignment focusing on the Britannia International Hotel Industry in London. The aim of the assignment is to discuss the strategic policy management of the Britannia International Hotel industry in London in the relation to their internal and external business environment. The Britannia International is one of the prominent hotel industry in the London situated at the heart of the city at Canary Wharf, London. They are having 35 hotels across United Kingdom using 7000 bedrooms, One of the hotel at the prime location of the city in London at the Canary Wharf is the key success factor nearer to the major airports and the seaside resorts surrounded by stunning country side (Lehman,2007) The strategic aim of the hotel industry is to provide the optimum money value at the desired level of the satisfaction facilitating to the easy opportunity of the decision-making to the guests who are coming ion the hotel industry (Buidcon,2009) As the London is an international city in the world many guests are used to come here from the different parts of the world in order to enjoy the city of London with its greenery, atmosphere, surroundings – due to which there is a wide scope of the development of the Hospitality industry in this area in order to hospitalise the visitors in this country. As a result many hotel industries are the wide popular in this city used to earn the good source of the potential income and sales turnover. The Britannia International at the Canary Wharf is offering the extremely competitive rates in the combination with the flourishes decoration with the facilities including restaurant, health club, night club, bars and free wireless internet access. (Gary,2010) The hotel is situated on the water’s edge next to the Canary Wharf, at the Docklands of the London in the internationally developed renowned office development, the hotel industry is fully modernised in the traditional culture having up to date facilities (Simson,2009) Modern style hotel located on the waterside in London’s docklands closed to Canary Wharf where there are many international businesses as well as large shopping centre , various restaurants and Bars (Gilston,2010)
Literature Review
Business Strategy of the Britannia hotel industry is purely of the functional and authoritative nature, Hotel industry is rationally divided in to four parts of the line of the organisational set up in which there are the functional departments are diversified as per the core area of the business management, Strategic planning of the hotel industry is made on the basis of the grouping of functions in to four imperative divisions they are the Operations, Human Resource, Marketing and Finance, Information Management section is the co-coordinator of all the departments which is involved in the transfer of the information with in the different active departments as a core functional chain in the business (Tandon,2007) Strategic Management of the hotel industry is having a dynamic and imperative weight in the international cities as per the depending of the nature and scope of activities , many guests and visitors are used to come in the city of London which has created an enormous beauty and scope of the activities of the hospitalisation in the city of London, different services are provided as per the capability and intensity of the hotel industry at the reasonable rates in order to achieve an optimum level of the satisfaction from the customers, supplier power of the hotel industry is really is magnificent they are providing the restaurant, Bar, Kitchen, living and boarding facilities having 4 big halls for the conducting of events such as marriages, birth day parties, functions, meetings, ceremonies in which the area of the potentials of the hotel industry are based, recently they are planning to start the travel and tourism operations as their supportive area of activity to the core functional scheme which is the additional source of the revenue recognition (Rodrics,2010) Glance situation of the hotel industry at the magnified location is the measured strength of the hotel industry at the Canary Wharf , the increasing the number of the people with the large scope for the sale of the food items in the glorious location of the hotel industry are some of the ideal characteristics of the hotel industry giving the prominent scope of the development and hospitalisation (Small,2009) Intensity of the buyer towards the hotel industry is strategic and sound as they are willing to get the supreme level of the services with in the reasonable costs and achieving the enjoyment of the city of London, Docklands area near to sea shore is giving the glance opportunity of the business development to the Britannia international hotel industry at the higher rate of income with the global status and the exclusive customer support, they are having a stratified customer relationship management strategy in which functional scope of the CRM dimensions has been predicted through the norms of the customer identification , customer attraction, customer development and the customer retention (Philip,2008) The strategic Management of the Hospitality industry in London is the core activity of the management in which functional scope is administered as a tool of the resource management, Operational activities are coming under the day to day performances of the business and regular services to the guests who are coming in the hospitality industry in order to acquire services and potentialities for the earning of the higher revenue generation in the day to day operational management, Human resource strategy is the core activity of the functional management in which major concentration is given on the process of the recruitment and selection of the new candidates in the service so as to get completion of the business activities in the right strategic order and at the right time with in the reasonable resources, Marketing Activities are the activities which are relating to the development of the market through the making of the strategic relationships with the customers and attracting them in the shoes of the customer in order to develop and expand the business activities, Finance department is involved in the strategic financial operations including the accounting , internal audits, finance management, investments in the area of the business so as to maintain the liquidity and the cash management in the day to day business operations, Information Management department is the channelising information department in the business with the providing of the time to time information in the order to regulate the departmental activities in the business organisation (Shardul,2010)
Discussion
The strategic report is discussing on the management policy of the Britannia International Hotel industry. In the international city of London the wide scope is available for the hospitalisation sector as many visitors are used to come here from the different parts of the world in order to pursue their education, jobs, picnics and visits, living. In due course of the same there is a wide scope available for the development of the hospitality industry in this city to entertain the visitors . There is a wide scope of the strategic management in the hotel industry so as to administer the group of activities in the business management policy of the hospitalisation. Business strategy has been constructed as per the model guideline of the core hospitalisation. Hotel industry is using the effective and efficient Customer Relationship Management strategy in order to make the long lasting relations with the guests, visitors in the shoes of their customers . The strategy of the Customer Relationship Management has been constructed in the view of the implementation of the efficient and effective CRM dimensions of the customer identification, attraction, retention and development to make the expansion of the business activities to capture the wider segment of the market. Market development strategies used to be formed with the using of the effective marketing communication techniques such as advertising and publicity , sales promotions, direct marketing , public relations and personal selling which will be helpful to develop the good communication system of the hotel with the creating of the Goodwill in the business. Business strategy of the Britannia international is constructed as per the ideal divisions of the functional activities in the four major departments specifying the executive strategy of the hospitality operations.
Critical Analysis
Strategic Management policy of the Britannia hotel industry is a constructive idea of the operational profile in which there is a wide scope available for the coverage of the functional area of activities. The strategic idea of the functional approach of the management policy is depending on the availability of the strategic factors which are in the support of the management and get inverse with the management. Following are the SWOT analysis are focusing on the internal and external factors of the hotel industry –
a) Strengths – Glance location of the hotel industry in the midlands nearer of the dockland airport is facilitating the visitors to take stay in the hotel. Availability of the feasible facilities including the air conditioned rooms, lodging and boarding, Restaurants, Bar,Kithen are all giving the strengths of the business. Staff operations are commensurate to the strategic development of activities , with the expertises of the staff and availability of the potential capacity of the labour services. Availability of the tourism operations is creating an additional constructive strength of the business . The scope of the information management department is to handle the ideal activities of the marketing function through the implementation of the different strategic marketing techniques. Availability of full fledged well furnished rooms , with the big halls for the events, ideal structure of the hotel set up is an added advantage.
b) Weaknesses – No scope for the parking facility of the vehicles in the surrounding area of the hotel industry. Increasing the rate of the labour turnover in the business with the improper workforce management activities. There is a serious increases in the budgeted expenditures of the hotel industry in due course of the increasing the labour turnover of the business. Reduction in the profitability of the business over the period of time is affecting on the performance level of the hotel industry. Increasing in the costs expenditures will commensurate to the revenue recognition from the day to day operational control of the business.
c) Opportunities – There is a greater scope available for the hospitalisation in the area of Canary Wharf. As London is one of the international city in the world many visitors are used to come here for the visits , picnic, education,travel,living,jobs. So that there is a wide scope of the opportunities for the development of the business is available towards the international visitors. Performance level of the hospitality industry is at the optimum rank , further there is a wide scope of the development to increase the level of the performance of the business with the employment of the skilled, efficient labour in the day to day business operations. Level of the business management can be used as a basis of the chanelising the information management function in order to acquire the objectives of the business.
d) Threats – As the London is an international city in the world, many spectators are used to come here from the different parts of the world. It is therefore there is a wide scope for the development of the Hospitality industry in this area. The scope of the Hospitalisation is quite more in this city of London. Due to which many hotel industries are used to operate in this city to entertain the globalise visitors, guests. It is leading to the emergence of the different hotel industries. Hotel Hilton Metropolitan, Hotel Syon Park, Hotel Chariot Mirror are some of the leading hotel industries in the city competing the Britannia International.
SWOT analysis is pertaining to the focus on the internal and external business environment which shows an exact picture of the hotel industry in a strategic manner.
In depth focus further can be made in the business activities through the applications of the tool of the Porter’s five forces –
Supplier Power – It is the creative idea of the different facilities offered by the Britannia hotel industry in the hospitalisation. They are having Bar , Restaurant, Kitchen services , lodging and boarding facilities , full well furnished air conditioned rooms which are attracting the visitors in the hotel. At one time more than 100 of people can have stay in the hotel in the well furnished rooms. There is an optimum level of the food facility available for the guests and visitors. Bar services are more timely and co-efficient. Operational strategic management has been done based on the implementing the ideal strategy of the hospitality management and its core area of the knowledge. The Hotel industry is having the strategic supply power which can attract the large number of customers in order to increase the capacity sales.
Buyer Power – This is the power of the buyer intensity in which study of the buyer behaviour has been conducted. Buyer power is created with the availability of the financial position of the buyer leading to increase in the level of consumption. Understanding of the buyer behaviour in the business is a strategic task of the assessing of the demand position in the current market. On the basis of which the supplier power can be built up in the day to day business operations. In every business intensity of the buyer capacity is playing a strategic role. As the Uk is in the recovery stage of the credit crunch situation in the market, it is leading to the increase in the level of the economy along with the employment opportunities in the business. With the help of that the earning potential capacity of the buyer is now upgrading leading to the increase in the level of consumption.
Market Competition – There is a strategic competition in the market. As the London is an international city there is a major scope for the development of the Hospitality sector because people who are coming from the different parts of the world are need to have facility for their hospitalisation and care. In due course of which many hotel industries are used to operate in this city creating a challenging business environment for the hospitality industry. With the availability of the international Hotels such as Hilton Metropolitan, Syon Park, Mirror Chariot there is an ultimate reduction is felt in the business of the Britannia international.
Threat of New Entrants – There is a serious threat of the new entrants who are coming in the market. As this city has a wider scope of the hospitalisation business in due course of the international visitors, the scope of the hotel industries has been increased in this area. For the entertaining of the guests, visitors there is a need of the new resraurants,hotels which ultimately had given rise to the commencing of the new hotel industry businesses , which can create a challenging threats for the Britannia International as the same quality food may be available at the more cheaper rates in the new hotels for the sake of the capturing of the market.
Barriers to New Entrants – There are the certain barriers are available in this country for the new hotel industries. Govt. Licensing is a challenging task which requires the many compliances of the documents and still no assurance of the sanctioning of the license. Another problem is of the capital funding as London is one of the costly city in the world , there are the many requisites are raised for the mobilisation of the capital and still there are the issues which are arising in the starting of the business. These are the serious challenging barriers to the new entrants.
Findings
It has been found on the basis of the strategic analysis that there are the different strategies and customs are applied in the business. The normative strategic planning of the business is based on the Porter’s generic scheme.
a) Cost Leadership – There is a cost efficiency and effectiveness is maintained in the business which is leading to the maximisation of the profits. Quarterly budgets are prepared indicating the schedule of the expenditures and the actual performance is used to compare with that schedule in order to improve the strategic performance of the business. Executive cost control is maintained in the business as a strategic tool of the business.
b) Focused – The ideal focus of the activities is based on the restaurant and lodging and boarding activities. In the restaurant the strategic activities which are focused are the kitchen services, Bar services, Operating services. In the lodging and boarding activities the ideal services are the well furnished rooms along with all the facilities of the toilets, bathrooms.
c) Differentiation – With the continuing of the focused core area of activity of the business hotel industry is planning to develop the new activity of the Travelling and Tourism operations which will facilitate the additional source of income of the business as the supportive level of activity to grow the business in the Hospitality sector.
Conclusion and Recommendation
The Britannia international is one of the reputed hotel industry in London having its strategic significance all over the world. Wide scope of the business with the glance opportunity is available for the expansion and development for the hotel industries. The Britannia hotel is having the imperative strength of the good supplier power , ideal resource management scheme which will be commensurate for the strategic management policy of the business. Good location of the hotel industry , facilities available are of the restaurant, bar , kitchen services , lodging and boarding services which are giving the scope for the business expansion and development. However, as the London is an international city in the world many spectators are used to come here for the travels, visits, education there is a wide scope of the development of the hospitality sector in order to catch the wide area of the business development. This is giving scope for the development of the many hospitality industries creating the market competition . Hotel Hilton, Hotel Syon Park, Hotel Passage to India are the hotels creating a challenging environment for the business. It is recommended to the hotel industry to give scope on the marketing communication techniques of the sales promotions and direct marketing in order to grow and expand the business. In the sales promotions focus can be on the giving of the different attractive discounting offers which can catch the customers. In the direct marketing hotel industry can use the strategic technique of the e-mail communications system to contact directly with the customers.
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Britannia Industries Ltd Directors Report
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Britannia Industries Ltd Directors Report: Check out the latest updates, and news about the Britannia Inds. director discussions at India Infoline
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India Infoline
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https://www.indiainfoline.com/company/britannia-industries-ltd/reports/directors-report
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Dear Members,
Your Board of Directors are pleased to present the 105th Annual Report on the Companys Performance along with the Audited Financial Statements for the financial year ended 31 March 2024 (FY 2023-24).
I. FINANCIAL PERFORMANCE
a. Standalone Financial Highlights
Particulars Year ended 31 March 2024 Year ended 31 March 2023 % Growth Revenue from Operations 16,186.08 15,618.42 3.6 Operating Profit 2,799.63 2,546.69 9.9 Profit After Tax 2,082.05 2,139.30 (2.7)* Dividend 1,770.38 1,734.25 2.1
*excluding exceptional items, the growth stood at 8.1%.
# Proposed
b. Consolidated Financial Highlights
Particulars Year ended 31 March 2024 Year ended 31 March 2023 % Growth Revenue from Operations 16,769.27 16,300.55 2.9 Operating Profit 2,869.38 2,605.00 10.1 Profit After Tax (Owners Share) 2,139.81 2,321.77 (7.8)*
The Audited Standalone and Consolidated Financial Statements, prepared in accordance with Section 133 of the Companies Act, 2013 (the Act) read with the Companies (Accounts) Rules, 2014 and the Indian Accounting Standards (Ind AS) along with the Auditors Report, forms part of the Annual Report.
c. Overview of Companys Performance
Your Companys consolidated revenue from operations and operating profit grew at 2.9% and 10.1%, respectively in FY 2023-24 as compared to the previous year. In its quest to ensure readiness for the future, your Company has embarked on a transformation journey driven by strategic initiatives, operational enhancements and technological advancements.
During the year, your Company has:
Entered New Categories and launched New-To-Market Innovations towards its goal of becoming a Global Total Foods Company.
Leveraged digitalisation to strengthen its distribution, enhance marketing initiatives and improve efficiency across all functions.
Commissioned a greenfield factory at Bihta, Bihar to enhance its technologically superior capabilities.
Strengthened its Environmental, Social and Governance (ESG) Initiatives.
d. Subsidiary, Associate and Joint Venture Companies
Pursuant to Section 134 of the Act read with Rule 8(1) of the Companies (Accounts) Rules, 2014, performance highlights of Subsidiary, Associate and Joint Venture Companies and their contribution to the overall performance of the Company can be referred in Form AOC-1 prepared in accordance with Section 129(3) of the Act read with Rule 5 of the Companies (Accounts) Rules, 2014 which forms part of the Annual Report.
Further, pursuant to Section 136 of the Act, the Financial Statements of the Subsidiaries are available at the Registered Office and website of the Company at https://www.britannia.co.in/investors/ financial-performance/subsidiaries-accounts. Any Member desirous of inspecting or obtaining a copy of the same may write to the Company Secretary at [email protected].
e. Dividend
Pursuant to the Dividend Distribution Policy of the Company, the Board of Directors at their Meeting held on 3 May 2024, has recommended a final dividend @7350% i.e., Rs73.50/- per Equity Share of face value of Rs1/- each fully paid up for FY 2023-24. The total dividend payout for FY 2023-24 will be Rs1,770.38 Crores.
The final dividend is subject to the approval of Members at the ensuing 105th Annual General Meeting (AGM) of the Company. The Dividend, if declared, will be paid to the Members holding equity shares as on record date i.e., 5 August 2024. The same will be paid within statutory timelines after deduction of tax at source.
f. Reserves
Your Company has not transferred any amount to the reserves during the year under review.
g. Share Capital
During the year, there is no change in the paid-up equity share capital of the Company.
h. Unsecured, Non-Convertible, Redeemable, Fully Paid-Up Debentures
As on 31 March 2024, your Company has 24,08,68,296 3 Year Unsecured, Non-Convertible, Redeemable, Fully Paid-Up Debentures of Face Value of Rs29/- each, bearing interest at 5.5% p.a. (Bonus Debentures). The due date for 3rd Year Interest and Redemption of Bonus Debentures is 3 June 2024.
i. Management Discussion and Analysis Report
Pursuant to Regulation 34(2)(e) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations, 2015), the Management Discussion and Analysis Report for FY 2023-24, forms part of the Annual Report.
j. Material Changes and Commitments Affecting the Company
There were no material changes and commitments affecting the financial position of the Company between the end of the financial year and the date of this report. Further, there has been no change in the nature of the Companys business during the year under review.
II. OPERATIONAL PERFORMANCE
a. The Britannia Promise
Britannias eventful journey and growth over a magnificent century of its existence, has been built on an unwavering commitment to provide consumers with safe, exciting and healthy products of the highest quality. These core principles, which constitute the Britannia Promise, are embodied in the Companys mission of delivering exciting and wholesome products, while ensuring equitable and sustainable growth that is consistently beneficial to its stakeholders and community.
The journey to greater heights over the next century promises to be even more exciting, with nutrition and sustainability leading the way.
b. Supply Chain Operations
Your Company continues to invest in innovative technologies, superior capabilities and supply chain management systems to drive growth and deliver value for stakeholders today while pioneering transformative changes for tomorrow.
Towards its journey of building technologically superior factories, your Company has:
Commissioned a greenfield factory in Bihta, Bihar;
Scaled up 14 Lines (Biscuit & Rusk) in its factories at Khurda, Ranjangaon, Tirunelveli and Barabanki.
Your Company participated in the National Kaizen Competitions organized by the Confederation of Indian Industry (CII) where its factories located at Hajipur, Perundurai, Guwahati, Mundra and Ranjangaon received awards in Innovative, Renovative, Restorative and Breakthrough categories for their exemplary implementation of Kaizen methodologies.
Also, a competition was conducted by CII for Large Scale Model TQM (Total Quality Management) Companies in which your Company (Perundurai factory) won the Second Runner Up Award, being the only FMCG Company awarded in this category.
Your Company also won Gold & Silver QCFI (Quality Circle Forum of India) and Jury Champion Awards for its Jhagadia factory, affirming its commitment to excellence in quality.
c. Environment, Health and Safety (EHS)
Your Company prioritizes the well-being of its employees and is committed to provide a safe working environment. Employee Safety is of utmost importance for your Company and is reviewed at various levels of the organisation including its Board of Directors.
Your Company has implemented a robust Health and Safety framework across all its locations and encourages Zero Accident Culture being the core of its EHS Policy. You will be happy to note that your Companys Ranjangaon factory achieved 9 Million safe working hours without any recordable injury.
Your Company maintains highest standards of occupational health and safety and is ISO 14001, ISO 45001 & ISO 22000 certified. During the year, your Company has received CII EHS Excellence Awards for its manufacturing units, the recognitions being Gold Award for Khurda & Silver Award for Guwahati, Hajipur, Mundra and Kolkata factories.
Your Company places high priority on employees training and engagement to foster a culture of safety in the organisation. During the year, 3,63,395 man-hours training was imparted on various aspects of EHS. Your Company has implemented a Water Stewardship Program aimed at conserving and replenishing groundwater through rainwater harvesting systems with the objective of attaining water neutrality.
As a result, your Company reduced its specific water consumption to 0.84 kL/Ton of production, which is ~32.84% reduction from the baseline of 2019-20. Your Companys Water Stewardship Program was recognised with the SKOCH ESG Award (Silver) in March 2024.
d. Quality Programs
Your Company has been consistently enhancing the quality of its products and upholding highest standards of food safety, to deliver superior and safe products to its consumers. A well defined system is in place to adhere to regulatory requirements and your Company conducts a thorough evaluation of quality and food safety aspects at every stage of the product life cycle.
The culture of continuous improvement is fostered across the organisation through various capability building initiatives designed to enhance the effectiveness of People, Processes and Systems.
Value Chain Partners: It is imperative for your Companys Value Chain Partners to maintain the highest standards of product quality, food safety and regulatory compliance. The procurement process of your Company involves sourcing ingredients and packaging materials exclusively from approved partners who meet the stringent qualification standards set by the Company.
Manufacturing: All your Companys existing manufacturing units are FSSC/ISO-22000, Hazard Analysis Critical Control Points (HACCP) certified, consistently adhering to stringent food safety and quality standards.
Your Companys unwavering commitment to comply with Global Food Safety Standards have been recognised by the American Institute of Baking (AIB) and its 44 manufacturing facilities are now AIB certified.
Consumer Engagement: Your Companys Consumer Care Cell is ISO 10002:2018 certified, which is the Global Standards on Quality Management for Complaints Handling in Organisations.
This certification underscores your Companys commitment in providing best-in-class customer service and implementing robust grievance management processes.
e. Research and Development (R&D)
Your Company leveraged its R&D capabilities to launch 22 innovative products during the year. In its endeavor to meet the increasing consumer preference for healthy snacking, your Company launched Makhana (Fox Nuts) under the Brand Better Snack Co, Energy and Protein Bars under the brand Be You and also expanded Good Day portfolio with Good Day Fruit & Nut and Good Day Butter Jeera.
Your Company has prioritized the optimization and reduction of sugar & sodium content across its product portfolio and successfully reduced sugar content by ~1.9% per serving and sodium content by ~2.4% per serving as compared to FY 2022-23. Further, Nutrichoice Digestive has undergone renovation as a product without maida and made entirely from 100% atta.
Your Company has partnered with a UK-based institute to develop one-of-its-kind biodegradable packaging which will be launched soon as part of its sustainability initiatives. Further, the R&D laboratory of your Company has demonstrated its excellence by continuing the NABL (National Accreditation Board for Testing and Calibration Laboratories) accreditation for the 4th consecutive year.
In line with its ongoing commitment to plastic reduction, your Company has enhanced investments in its R&D capabilities to eliminate plastic tray from its product portfolio and has successfully removed 19.10 metric tonnes of plastic trays from its product portfolio, during FY 2023-24.
Your Company continued to be Plastic Neutral and has collected and responsibly processed ~45,000 tonnes of plastic during the year.
f. Environment, Social and Governance
Your Companys ESG framework focuses on building a Sustainable and Profitable business and is driven by the belief of giving back to the environment and society while progressing towards the goal of becoming a Responsible Global Total Foods Company.
The inception of Sustainability Reporting in 2021 underscores your Companys commitment to achieve best-in-class ESG practices.
The four key pillars of the sustainability strategy viz., Resources, People, Growth & Governance are embedded in your Companys business activities and validate the idea of Responsible Goodness.
During the year, your Company made significant progress in all the programs and areas identified under the sustainability strategy. Its ESG initiatives has been recognised with the SKOCH ESG Award (Gold) in March, 2024.
Resources:
Being conscious of the use of natural resources and the impact caused by combustion of conventional fuels, your Company has prioritized implementation of decarbonizing measures across all its business operations. Efforts are being taken for improving performance of the identified levers such as sourcing of renewable power, usage of low emitting fuels and application of biomass as an alternative fuel. While biomass is currently utilised in Perundurai, Khurda and Ranjangaon units, your Company has plans to further increase its renewable energy consumption through captive generation, sourcing via open access and power purchase agreements.
During FY 2023-24, your Company achieved ~28% share of renewable electricity sourced from wind and solar power in the total electricity consumption. However, the renewable electricity share in total electricity consumption decreased by ~6% compared to the previous year. This decrease can primarily be attributed to the inclusion of Dairy Plant in the reporting boundary, known for its high energy consumption. Further, your Companys new factories in Tirunelveli and Barabanki were also added to the reporting boundary. Despite this decrease, your Company remains committed to improve its renewable electricity share, especially considering its expanding business. Further, your Companys GHG emissions intensity (scope 1 + scope 2) increased by ~3% as compared to the previous year.
During FY 2023-24, your Company also reported corporate value chain (scope 3) emissions for seven categories. For details on GHG Emissions Intensity, please refer to the Business Responsibility and Sustainability Report, forming part of the Annual Report.
Your Company contributed significantly to fulfill its responsibility towards water stewardship during the past few years and has established a firm mechanism to monitor process-wise water consumption, leakproof supply system, recycling & reuse possibilities in order to ensure efficient use of freshwater withdrawn. The water consumption intensity for FY 2023-24 is 0.84 kL/Ton of production which is ~32.84% reduction from the base year (2019-20) intensity of 1.25 kL/Ton. As part of the Water Stewardship Program, your Company has installed Rainwater Harvesting Systems to recharge the rain water at 17 of its factories in India. The Company recycles and reuses a portion of its discharged water to ensure compliance with regulations and minimize the impact on the environment. Rejected water from RO filter plants is repurposed for floor cleaning and treated wastewater is reused for gardening and other suitable purposes. In FY 2023-24, your Company recycled 5,29,324 kL i.e., ~52.29% of its total water withdrawal.
Sustainable packaging is critical for Britannia, being a food product company. Through the Extended Producer Responsibility (EPR) programs, your Company has achieved plastic neutrality for the 3rd consecutive year, proving to its ethos of delivering Responsible Goodness to the consumers.
Your Company conducted ESG assessments for 453 suppliers, representing 87% of the total spend for FY 2023-24. These assessments were based on the following six parameters aimed at evaluating the ESG performance of the suppliers: (i) Energy Management; (ii) Water Management; (iii) Waste Management; (iv) Sustainable Packaging; (v) Greenhouse Gas (GHG) emissions, Biodiversity Conservation and No Deforestation; and (vi) Business Ethics, Governance, Diversity and Inclusion.
People:
Community Nutrition is the apex program under Social Responsibility lever of sustainability strategy. Britannia Nutrition Foundation (BNF) has been contributing to eliminate malnutrition and addressing the issues causing nutritional deficiency and imbalance since birth of the child.
The Malnutrition Reduction Program has impacted ~2.3 lakh lives positively which include children, adolescents, pregnant women and lactating mothers. This initiative has been recognised with SKOCH ESG Award (Gold) in March, 2024.
The Dairy Farmer Extension Program is another initiative of your Company aimed at economic empowerment of farmers with technology enabled and sustainable dairy farming solutions. The program aims to improve economic status of farmers through increased cattle productivity and earnings. During this financial year, ~3,000 farmers have been benefitted by this program.
This year, the percentage of permanent female employees increased to 12.57% as compared to 11.51% in the previous year. Further, initiatives such as Maternity Transition Coaching Program and Nanny Travel Support were implemented during the year to support the female workforce.
Growth:
During the year, the Research and Development efforts continued to focus on consumer centricity and market presence. Your Company is committed to reduce sugar & sodium content in its products under the Healthy Product Portfolio Program and is also focusing on enhancing nutritional ingredients amid growing consumer consciousness towards health.
Governance:
To implement a sustainable development agenda, a strong governance system is required at the organisational level. Towards this end, your Company has established firm mechanisms comprising of policies and codes of conduct for governing internal and external stakeholders. Five broad level programs have been identified for fulfilling governance needs in the development agenda. These programs consists of:
(i) Corporate Governance;
(ii) Sustainability Performance Verification; (iii) Ethical Labelling, Marketing, Communication & Influence; (iv) Risk Management & Disclosure; and (v) Responsible Information Management.
g. Brands
During FY 2023-24, consumption was sharply impacted due to a host of macro factors such as rural slowdown, adverse weather conditions etc. In spite of these challenges, your Company was able to drive business positively with campaigns that effectively and meaningfully engaged with consumers. Your Company was able to sustain its leadership in the category on the back of its resilient brands and their strengths & tenacity in the face of challenging business and consumer contexts.
YourCompanylaunchedaslewofinnovativecampaigns and cemented itself as the industrys frontrunner in leveraging strengths of a variety of marketing formats. The Good Day campaign saw the usage of nuanced insights by region to ensure consumer engagement. On the other hand, the 50 50 4th Umpire campaign in partnership with Google Pay, the Marie Gold Her Store marketplace and the NutriPlus App by NutriChoice were some of your Companys pioneering efforts that showed the industry how to break new ground using digital innovations. Your Company also launched 50 50 Golmaal, a differentiated offering in the cracker space that was very well received by the consumers.
Fortifying core brands with advertising campaigns:
Your Company has been leading the charge in the industry on digital transformation with key technological changes across various verticals to meet the challenges of tomorrow. Rapid adoption of change by your Company is also reflected in some of the most innovative storytelling seen yet in combination with the powers of AI and marketing technology.
The 1947% More History campaign on Independence Day celebrating freedom fighters, marked an inflection point in storytelling with an AI film, packaging redesign and an advanced microsite coming together to create a narrative never seen before.
Also, Britannias Hungry For Gold campaign featured six leading athletes, social gaming and a deep on-pack integration to assert its dominance in associating with sports beyond cricket.
Britannias flagship brand Good Day, continued to win hearts and own small everyday joys with an extension of the last campaign which celebrated happy moments that make a good day. Your Company re-launched the campaign with regional nuances that deepened its bond with consumers across the country. The brand released short films that delved into regional contexts and highlighted how happiness exists in many forms and spaces. The flagship brand also released heart-warming films, which sought to re-establish the supremacy of butter cookies as an accompaniment to tea and did so much to consumers delight.
Good Day furthered its commitment to celebrate smiles and embrace inclusivity with the recognition of cleft smiles on the occasion of World Smile Day. Limited edition packs of Good Day cookies featured a cleft smile semblance to raise consciousness of the phenomenon and destigmatize its appearance. This initiative was aptly supported by QR code on Good Day packs, which led to a microsite that informed users of facts that surround cleft conditions.
Additionally, Good Day created waves with its youngest demographic with the launch of Bank of Small Wins campaign. The insight was built on the forgotten joy of finding money in ones pocket and it kindled an idea to help todays youth in experiencing the sheer joy of it. The campaign targeted Gen-Z consumers and sparked joy in their life in partnership with another popular brand in their world, namely Myntra. The social-first intervention fired up the internet using various youthful channels and generated immense curiosity and fervor for a chance to win real money using innovative media that had remained untapped. Marie Gold has long been the flag bearer in your Companys efforts towards making womens dreams, a reality and being the wind beneath their wings. Marie Gold reiterated its commitment to empower women and homemakers by leveraging the My Startup contest once again, which is its most ambitious move till date. This year, the startup contest was taken to Television as a reality show on the most popular channel of West Bengal. In doing so, it gave women and their entrepreneurial dreams, a whole new platform with increased visibility and potential for success. Marie Gold also launched Her Store on Womens Day, to give women entrepreneurs access to a wide consumer base, and a forum to interact with each other and learn best practices in unison.
Britannia 50 50 arguably led digital innovation for the industry as a whole during the premier 50-over tournament, through its 50 50 4th Umpire campaign in association with Google Pay. An industry-first partnership with Google gave Google Pay consumers the right to flex their umpiring skills through the tournament and secure t ickets to cricket matches. 50 50 also further enriched the consumer experience with a generative AI chatbot on WhatsApp and a text-to-video engine that let consumers connect with Ravi Shastri on video.
Milk Bikis, a seasoned leader in Tamil Nadu and a trusted partner to parents in supporting their childrens growth and development, furthered the concept of progressive parenting. The brand tied up with Indias renowned cricketer R. Ashwin and his family, to spearhead the cause of equal parenting in its new and innovative campaign. Milk Bikis also drove distribution with an inventive rural marketing campaign in key media-dark rural clusters with high disposition to milk and glucose. This drive effectively reached thousands of villages, educating both retailers and consumers through an integrated sell-in program and significantly expanding the Companys footprint.
Britannia NutriChoice strengthened its credentials as one of Indias largest health biscuit brand by teaming up with Ranveer Singh, known for his vibrant personality and commitment to fitness. Your Companys Make the NutriChoice campaign encouraged consumers to make a step, however, small in their journey to health and champion the transformative powers of every little, healthy endeavour. NutriChoice also launched a film with Ranveer Singh, highlighting its transition to being a no-maida digestive product and established its primacy in bringing good choices to the masses.
On the occasion of World Diabetes Day, NutriChoice also refreshed its path breaking AI chatbot to provide diet management services to the masses. With over a 100 million Indians managing diabetes today, this intervention was welcomed by over 100K consumers. This chatbots new version expanded its offering in 5 additional languages for the ease of consumers and saw industry-breaking numbers in participation and captivation for the 2nd consecutive year.
NutriChoice also released a health app named NutriPlus, to bring digital health solutions to the masses in partnership with Aktivo labs, a leading developer of health monitoring services. The app aims to bring digitized health measurement to the masses to enable their initiation into what is a very personal journey. The app simplifies health by aggregating all key health variables into a single score to be tracked. The app also rewards users to incentivise their initiation into health, thereby ensuring India sees value in getting healthy in the short and long term with NutriChoice.
Britannia Bourbon went the full mile by revamping its product to have more chocolate, activated new & attractive packaging to reflect the change and released a hilarious new commercial to communicate the change to a wider audience. All these improvements to the product coupled with the sparkling film, ensured that the original chocolate biscuit of the masses was gaining ascendancy once again.
Your Company continued its investments in media with the TV campaign on Britannia Treat Croissant starring the celebrity choreographer, actor and directorPrabhu Deva. It has helped your Company garner the necessary consumer traction in the key regions namely, South and East. The brand also carried out a Pronunciation Activation which was received well and got 50 Million impressions.
Market leadership through multiple innovations:
50 50 Golmaal was a shining addition to your Companys portfolio of innovations. Consumers praised the delightful combination of sweet, salty and spicy notes and enabled your company to reach Rs100 Crores in revenue in its first year of launch. This remarkable success of the product across the landscape not only enhanced the performance of your Companys cracker category but posed a challenge to competing brands as well.
Jimjam Pops was another new offering and a revolution in the space of cream biscuits long held back by a lack of innovation in product design. Jimjam Pops features a new Open Biscuit format with a flavorful, creamy center, making it more accessible and enjoyable for consumers. The launch was accompanied by a well executed campaign and an engaging film, which not only educated consumers about the innovative biscuit format but also offered entertaining comic relief.
Treat Cookies and Wafers made significant progress with new launches and improvements in product designs. Treat Cookies introduced exciting new flavors like Chilli Guava and Orange, paving the way towards growth in this category. The popular chocolate and vanilla flavours were also revamped while the new Choco Fills launch democratized access to high quality and great taste for the target consumer. These launches have been well received, promising a period of notable growth.
Treat Wafers stayed the course on innovation with re-launches in chocolate and cheese variants that saw remarkable growth and consumer appreciation. The new introductions led to strong business performances in key markets while also significantly improving your Companys share across key channels. All these efforts resulted in industry recognitions and honours. Your Company was lauded as the Kantar BrandZ Most Valuable Food Brand, the ETBrandEquity Digital Brand of the Year and also, as icing on the cake, as the Marketing team of the Year at the Indian Marketing Awards. This was made possible, due to your Companys efforts towards transformation beyond traditional means of innovation & marketing and the support of its partners and stakeholders who inspire us to do better at every step.
Your Company launched Britannia Winkin Cow Bourbon Milkshake, a 1st in category initiative which extended the equity of your favourite Bourbon brand to Milkshakes.
Your Company launched the disruptive 1st in category innovations being Cheese Triangles and Creamy Cheese sachets under Britannia The Laughing Cow brand, pursuant to the Joint Venture entered with Bel SA, a renowned French cheese maker.
Your Company has been working towards becoming a go to Cake brand, whether it is for in-home celebrations, or out-of-home consumption. It has introduced a range of premium quality slice cakes in large packs - English Tea and Choco Chip Orange Cakes to reach wider target groups as well as occasions. Your Company has launched Veg Layer Cake at Rs5 which is an important price point in the mass segment. It has also added an affordable variant to the Plum Cake this year and supported it with an on-ground activation. Your Company has invested in Television media in Q4 to create recall for its Slice Cake portfolio and has also supported newer variants in Slice segment like Marble Cake, with Print Ads across India.
Your Company continues to work on its vision of leading the Bread category by providing newer and consumer relevant experiences. Your Company was the first national player to launch the Millet Bread in FY 2023-24 and has also launched Creme-fill Roll at Rs10. These launches were supported with product sampling through E-commerce channel, promos and in-markets countertops.
Britannia Toastea has unveiled new options to cater to both health conscious and indulgence seeking consumers. The introduction of products like Multigrain Rusk appeals to those prioritizing nutrition, while Cake Rusk targets consumers seeking a more indulgent snack experience. This diverse range allows your Company to broaden the experience in the Rusk category.
h. Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo
The details of conservation of energy, technology absorption, foreign exchange earnings and outgo in accordance with Section 134(3)(m) of the Act read with Rule 8 of the Companies (Accounts) Rules, 2014, are provided as Annexure-A to this Report.
III. DIRECTORS AND KEY MANAGERIAL PERSONNEL a. Appointment of Director
Pursuant to Section 149, 150, 152, 161 of the Act, the Companies (Appointment and Qualification of Directors) Rules, 2014 and Regulation 16(1)(b), 17 & 25 of the SEBI Listing Regulations, 2015, the Board of Directors at their Meeting held on 26 March 2024, based on the recommendation of the Nomination and Remuneration Committee (NRC), appointed Mr. Pradip M Kanakia (DIN: 00770347) as an Additional Non-Executive Independent Director of the Company for a term of 5 (five) consecutive years w.e.f. 26 March 2024 upto 25 March 2029 (both days inclusive), subject to the approval of the Members of the Company.
The Board of Directors recommended the aforesaid appointment for approval of Members by way of Special Resolution through Postal Ballot.
In the opinion of the NRC and the Board, Mr. Pradip M Kanakia possesses requisite experience, expertise, proficiency and holds high standards of integrity.
b. Director Retiring by Rotation
Pursuant to Section 152 of the Act and the Articles of Association of the Company, Mr. Ness N. Wadia (DIN: 00036049), Non-Executive Non-Independent Director is liable to retire by rotation at the ensuing AGM and being eligible, has offered himself for re-appointment.
Based on the recommendation of the NRC, the Board of Directors at their Meeting held on 3 May 2024, recommended the re-appointment of Mr. Ness N. Wadia for approval of the Members at the ensuing AGM of the Company.
The NRC and the Board is of the opinion that Mr. Ness N. Wadia possesses the requisite expertise, skills and experience to contribute to the growth of the Company.
Brief Profile of Mr. Ness N. Wadia and other details as required under Regulation 36(3) of the SEBI Listing Regulations, 2015 and Secretarial Standard on General Meeting (SS-2) are given in the Notice of the 105th AGM of the Company.
c. Key Managerial Personnel During the year, there was no change in the Key Managerial Personnel of the Company.
d. Directors Responsibility Statement
Pursuant to Section 134(3)(c) and (5) of the Act, the Board of Directors, to the best of their knowledge confirm that:
(i) In the preparation of the annual accounts, the applicable accounting standards have been followed with no material departures;
(ii) They have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as on 31 March 2024 and of the profit of the Company for that period;
(iii) They have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
(iv) The Annual Accounts are prepared on a going concern basis;
(v) They have laid down Internal Financial Controls to be followed by the Company and that such Internal Financial Controls are adequate and are operating effectively; and
(vi) They have devised proper systems to ensure compliance with the provisions of all applicable laws and these systems are adequate and operating effectively.
Based on the framework of Internal Financial Controls and Compliance Systems established and maintained by the Company, the work performed by the Internal, Statutory & Secretarial Auditors and External Consultant(s) as well as the reviews conducted by the Management and the relevant Board Committees including the Audit Committee, the Board believes that the Companys Internal Financial Controls were adequate and operationally effective during FY 2023-24.
IV. CORPORATE SOCIAL RESPONSIBILITY (CSR)
Pursuant to Section 135 of the Act read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 and Schedule VII to the Act, your Company has undertaken CSR activities in the areas of promoting education, health care including preventive health care, village development including water & sanitation and reduction of malnutrition. The Annual Report on CSR activities comprising of brief outline of the CSR Policy, composition of the CSR Committee and highlights of the projects is given as Annexure B to this Report.
V. EMPLOYEES
a. Remuneration of Directors, KMPs and Employees
A statement containing the details of the Remuneration of Directors, KMPs and Employees as required under Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is given as Annexure-C to this Report.
As per Section 136 of the Act, the report and the financial statements are being sent to the Members and others entitled thereto, after excluding the disclosure on remuneration of employees as required under Section 197(12) of the Act read with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. The disclosure is available for inspection by the Members at the Registered Office of the Company during the business hours (9:30 A.M. to 5:30 P.M. IST) on all working days up to the date of the ensuing AGM. Any Member interested in obtaining a copy thereof, may write to the Company Secretary at [email protected].
b. Britannia Industries Limited Phantom Option Scheme 2021
Your Company has adopted Britannia Industries Limited Phantom Option Scheme 2021 (BIL POS 2021) to incentivise employees and share the fruits of growth and prosperity of the Company with them as provided in the Scheme.
c. Prevention of Sexual Harassment at Workplace
Your Company has adopted an Anti-Sexual Harassment Policy and constituted an Internal Complaints Committee in accordance with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
Details of the complaints received and resolved during the year are given in Clause (IX) (j) of the Corporate Governance Report.
VI. GOVERNANCE
a. Corporate Governance Report
Pursuant to Regulation 34(3) and Schedule V of the SEBI Listing Regulations, 2015, a Corporate Governance Report for FY 2023-24 and Certificate from the Statutory Auditors confirming compliance with the conditions of corporate governance prescribed under the SEBI Listing Regulations, 2015 is forming part of the Annual Report.
b. Business Responsibility and Sustainability Report
Pursuant to Regulation 34(2)(f) of the SEBI Listing Regulations, 2015 read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated 11 July 2023, the Business Responsibility and Sustainability Report (BRSR) for FY 2023-24 has been prepared based on the framework of the National Guidelines on Responsible Business Conduct and in the format prescribed by SEBI.
Further, the Company has obtained assurance of the BRSR Core for FY 2023-24 from M/s. Grant Thornton Bharat LLP in accordance with SEBI Circular No. SEBI/HO/CFD/CFD-SEC-2/P/CIR/2023/122 dated 12 July 2023. The BRSR and the Assurance Report on the BRSR Core forms part of the Annual Report.
c. Annual Return
The copy of draft Annual Return in Form MGT-7, prepared as per Section 92(3) of the Act read with Rule 11 of the Companies (Management and Administration) Rules, 2014 is placed on the website of the Company at- https://www.britannia.co.in/investors/financial-performance/annual-report.
d. Vigil Mechanism/Whistle Blower Policy
Pursuant to Section 177(9) & (10) of the Act and Regulation 22 of the SEBI Listing Regulations, 2015, your Company has adopted a Whistle Blower Policy to provide vigil mechanism for directors and employees, the details of which are provided in Clause (IX) (c) of the Corporate Governance Report.
e. Board Evaluation
The annual performance evaluation of the Directors (including Chairman), Committees and the Board as a whole was carried out in compliance with the requirements of Section 178 of the Act and Regulation 17, 19 and 25 of the SEBI Listing Regulations, 2015. The criteria and manner of performance evaluation is given in Clause (III) (b) of the Corporate Governance Report.
f. Remuneration Policy
Pursuant to Section 178(3) of the Act and Regulation 19 of the SEBI Listing Regulations, 2015, your Company has adopted a Remuneration Policy for Directors, Key Managerial Personnel and Other Employees.
The salient features of the policy are given in Clause (III) (b) of the Corporate Governance Report.
The policy is also available on the website of the Company at- https://www.britannia.co.in/BIL_Remuneration for Directors, Key Managerial Personnel and other employees_policy.
g. Risk Management
Your Company has adopted a Risk Assessment and Management Policy. The Risk Management Committee of the Board reviews key risks affecting the Company and mitigation measures thereof. In the opinion of the Board, there are no elements of risks which may threaten the existence of the Company. The details of Risk Management Committee are given in Clause (III) (e) of the Corporate Governance Report.
h. Declaration by Independent Directors
All the Independent Directors have submitted Declaration of Independence confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Act, Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 and Regulation 16(1)(b) of the SEBI Listing Regulations, 2015. Further, the Companys Independent Directors have affirmed that they have followed the Code for Independent Directors as outlined in Schedule IV to the Act. i. Board and its Committees
The Board met 7 (seven) times during the year. The details of the Composition of the Board, its Committees and their Meetings are given in Clause (II) and (III) of the Corporate Governance Report.
During the year, the Board has accepted all the recommendations made by its Committees.
j. Related Party Transactions
Your Company has adopted a policy on Materiality of the Related Party Transactions and on dealing with the Related Party Transactions which is available on the website of the Company at- https://www.britannia.co.in/BIL_Materiality of Related Party Transactions and on Dealing with Related Party Transaction_Policy.
During the year, your Company did not enter into any contracts/arrangements/transactions with the related parties requiring approval under Section 188(1) of the Act read with Rule 15 of the Companies (Meetings of Board and its Powers) Rules, 2014. All the related party transactions were in the ordinary course of business and at arms length basis and there were no material related party transactions entered during the year. Therefore, disclosure in Form AOC-2 prescribed under Section 134(3)(h) of the Act read with Rule 8 of the Companies (Accounts) Rules, 2014 is not applicable to the Company. In accordance with Ind AS-24, the related party transactions are disclosed under Note No. 44 of the Standalone Financial Statements.
k. Public Deposits
Your Company has neither accepted nor has any outstanding deposits from the public within the meaning of Section 73 of the Act read with Rule 2 of the Companies (Acceptance of Deposits) Rules, 2014.
l. Particulars of Investments, Loans and Guarantees
The particulars of Investments, Loans and Guarantees covered under Section 186 of the Act and Schedule V of the SEBI Listing Regulations 2015, are provided in Note No. 38, 39 and 40 of the Standalone Financial Statements.
m. Disclosure on Significant and Material Orders
There were no significant and material orders passed by the Regulators, Courts or Tribunals during the year impacting the going concern status and the operations of the Company in future.
n. Compliance with Secretarial Standards
During the year, your Company has complied with the Secretarial Standard on Meetings of the Board of Directors (SS-1) and Secretarial Standard on General Meetings (SS-2), issued under Section 118(10) of the Act, issued by the Institute of Company Secretaries of India.
VII. AUDITORS
a. Statutory Auditors
Pursuant to Section 139 of the Act read with Rule 3 of the Companies (Audit and Auditors) Rules, 2014, the Members of the Company at the 101st AGM held on 7 July 2020, appointed M/s. Walker Chandiok & Co. LLP, Chartered Accountants (Firm Registration No. 001076N/N500013) as Statutory Auditors of the Company for a period of 5 (five) consecutive years to hold office from the conclusion of 101st AGM till the conclusion of 106th AGM of the Company to be held in the year 2025.
The Statutory Auditors have confirmed that they are not disqualified from continuing as Auditors of the Company.
The Statutory Auditors have issued the Reports with an unmodified opinion and their Reports do not contain any qualification, reservation, observation, adverse remark or disclaimer on the financial statements of the Company for FY 2023-24.
b. Cost Auditors
Pursuant to Section 148(1) of the Act read with Rule 3 and 5 of the Companies (Cost Records and Audit) Rules, 2014, your Company has maintained cost records for FY 2023-24.
M/s. GNV & Associates (Firm Registration No. 000150), Cost Auditors of the Company are carrying out the Audit of cost records relating to Milk Powder for FY 2023-24 and their Audit Report will be submitted to the Board within the prescribed timelines. Further, pursuant to Section 148(2) and (3) of the Act read with Rule 4 of the Companies (Cost Records and Audit) Rules, 2014 and Rule 14 of the Companies (Audit and Auditors) Rules, 2014, the Board of Directors at their Meeting held on 3 May 2024, based on the recommendation of Audit Committee, re-appointed M/s. GNV & Associates as the Cost Auditors of the Company to conduct the Audit of applicable cost records for FY 2024-25 at a remuneration of Rs75,000/- (plus applicable taxes and reimbursement of out-of-pocket expenses).
M/s. GNV & Associates have confirmed that they are not disqualified to be re-appointed as the Cost Auditors of the Company.
The resolution for ratification of remuneration payable to M/s. GNV & Associates to audit the applicable cost records of the Company for FY 2024-25 is recommended for approval of the Members at the ensuing AGM and forms part of the Notice of the AGM.
c. Internal Auditors
M/s. BDO India LLP, Internal Auditors of the Company have carried out Internal Audit for FY 2023-24. The reports and findings of the Internal Auditors are periodically reviewed by the Audit Committee. Pursuant to Section 138 of the Act read with Rule 13 of the Companies (Accounts) Rules, 2014, the Board of Directors, based on the recommendation of the Audit Committee, have re-appointed M/s. BDO India LLP as Internal Auditors of the Company for FY 2024-25.
d. Secretarial Auditors
Pursuant to Section 204 of the Act read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Regulation 24A(1) of the SEBI Listing Regulations, 2015, M/s. Parikh & Associates, Practicing Company Secretaries (Firm Registration No. P1988MH009800), have conducted Secretarial Audit of the Company for FY 2023-24. The Secretarial Audit Report does not contain any qualification, reservation, observation, adverse remark or disclaimer for FY 2023-24 and is given as Annexure D to this Report.
The Board of Directors, based on the recommendation of the Audit Committee, have re-appointed M/s. Parikh & Associates, Practicing Company Secretaries as the Secretarial Auditors of the Company for FY 2024-25.
M/s. Parikh & Associates have confirmed that they are not disqualified to be re-appointed as the Secretarial Auditors of the Company.
e. Reporting of Frauds by Auditors
During the year, the Auditors have not reported any fraud to the Audit Committee or the Board under Section 143(12) of the Act read with Rule 13 of the Companies (Audit and Auditors) Rules, 2014.
VIII. INTERNAL FINANCIAL CONTROLS
The details of adequacy of Internal Financial Controls concerning the Financial Statements are given in Clause (IX) of the Management Discussion and Analysis Report which forms part of the Annual Report.
IX. ACKNOWLEDGEMENTS
Your Directors would like to thank all the stakeholders viz., Consumers, Shareholders, Employees, Government, Suppliers, Business Partners, Bankers and all other Business Associates for their continuous support to the Company and its Management.
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https://www.oboolo.com/marketing/services-marketing/case-study/market-research-on-britannia-603010.html
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Market research on Britannia
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2009-04-29T00:00:00
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Case study, 44 pages, services marketing published on 29 April 2009: Market research on Britannia. This document was updated on the 29/04/2009
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https://www.oboolo.com/marketing/services-marketing/case-study/market-research-on-britannia-603010.html
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Abstract
Britannia was incorporated in 1918 as Britannia Biscuits Co Ltd in Calcutta. In 1924, Pea Frean UK acquired a controlling stake, which later passed on to the Associated Biscuits International (ABI) a UK based company. During the '50s and' 60s, Britannia expanded operations to Mumbai, Delhi and Chennai. Exports of sea foods started in the '70s. In 1987, Nabisco, a well known European food company, acquired ABI. In 1989, J M Pillai, a Singapore based NRI businessman along with the Groupe Danone acquired Asian operations of Nabisco and thus acquired controlling stake in Britannia. Later, Groupe Danone and Nusli Wadia took over Pillai's holdings. In 1977, the Government reserved the industry for small scale sector, which constrained Britannia's growth. Britannia adopted a strategy of engaging contract packers (CP) in the small scale sector. This led to several inefficiencies at the operating level. In April '97, the Government dereserved the biscuit sector from small scale. Britannia has expanded captive manufacturing facilities and has modernized and upgraded its facilities in the last five years. It has also forayed into the Dairy Business with the launch of Cheese, Butter, Ghee, Dairy whitener and flavored milk products.
Extract
[...] The Biscuit market is growing as a whole, thus Britannia stands to benefit just by maintaining itself. 4.) The Tiger Brand Britannia's Tiger brand is very successful in it's segment. Launched as direct competition to Parle's Glucose Biscuits, it contributes 25% of the Companies Volumes and 19% of it's Sales 5.) The Premium Range Britannia faces no competition at all in its premium range of biscuits. It's Cream Treat Range of Products are at present the only players in that segment. [...]
[...] The promotion offered 100 cricket enthusiasts an opportunity to visit South Africa and cheer the Indian team in person in a match against Pakistan on March The offer was valid on select Britannia products from October onwards. Wrappers of every such offer pack carried a certain number of runs which could be exchanged for a specially designed `World Cup '03 scratch card' at any of the 8,000 authorized Britannia Prize centers across the country. On scratching the pad on the card, the prizes were revealed to the customer. [...]
[...] - Biscuits major Britannia Industries will fund its in-principle agreement to acquire 49 per cent of Kwality Biscuits through internal accruals -Britannia Industries Ltd announced on March that it has entered into a joint venture with the Fonterra Cooperative Group, New Zealand's biggest company and one of the leading diary co-operative groups in the world. -Britannia's new COO is Nikhil Sen - Board of Directors of Britannia Industries Ltd has passed a resolution to terminate the employment of Mr S K Alagh as Managing Director of the company with immediate effect. [...]
[...] Market research shows that traditional Indian snacks like samosas are being replaced by biscuits. Enter alliances and acquisitions. According to Britannia's Sen, the entry of global players will lead to consolidation among small players they may either flock to players like Britannia or join hands themselves. "The proliferation of small players will diminish," says Sen. Britannia has picked up a controlling stake in Pondicherry-based Auro Foods. (Britannia officials, however, say that it set up International Bakery Product as a joint venture with Auro Foods). [...]
[...] Britannia is the market leader in the organized biscuit and bakery product market in India. They are the only Indian biscuit company with a presence across all segments, from Glucose, Salted, Arrowroot and Premium Cream Biscuits. Biscuits contribute 84% of Britannia's total turnover. Other products include bread per cent) and cakes per cent). Britannia diversified into dairy products in 1997 with processed cheese and dairy whitener. The portfolio was expanded with the launch of butter, pure, flavored milk in tetra packs and UHT milk. [...]
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Britannia Industries Ltd
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Britania Industries Ltd: Britannia is one of the leading food companies India and has a legacy of more than 100 years. Today it is among the most trusted food brands in India.
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https://www.ibef.org/assets/images/ibefavicon.ico
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India Brand Equity Foundation
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https://www.ibef.org/industry/agriculture-india/showcase/britannia-industries-ltd
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In December 2023, Bihar Chief Minister Mr. Nitish Kumar inaugurated a unit of Britannia Industries in Patna.
In June 2023, Britannia Bel Foods Private Limited, a joint venture between Britannia Industries Ltd and French company Bel Groupe, unveiled the new brand identity of their co-branded product range ‘Britannia the Laughing Cow’. The new identity has been announced through a digital video campaign (DVC).
In April 2023, Britannia Marie Gold My Startup initiative announced the top ten winners of its 4th Season and awarded them US$ 12,070.53 (Rs. 10 lakh) each to jump-start their business ventures.
In March 2023, Britannia Croissant business crossed Rs. 100 crore revenue milestone in fiscal year 2022-23.
Britannia is the first organised company in India to introduce millet bread into the fast-moving consumer goods industry in April 2023. This effort is in line with the national government's goal of promoting millet and providing a nutrient-dense diet to Indians.
In January 2023, Britannia Industries has partnered with Google to establish 'Britannia Marie Gold My Startup Season 4′, an effort to encourage homemakers to start their own small enterprises. The contest is aimed at providing a platform for women to showcase their business ideas and get a chance to win Rs 10 lakh to start their dream ventures.
In December 2022, Britannia Industries has announced a joint venture with French cheesemaker Bel Group, as it aims to scale up its packaged cheese business by 5 times to about US$ 152.9 million (Rs. 1,250 crore) over the next five years. In this joint venture, Britannia Industries will hold 51% stake while Bel Group will hold 49%.
Net Sales at Rs 4,196.80 crore in December 2022 up 17.39% from Rs. 3,574.98 crore in December 2021.Quarterly Net Profit at Rs. 932.39 crore in December 2022 up 151.2% from Rs. 371.18 crore in December 2021.
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https://blog.shoonya.com/history-of-britannia-industries-limited/
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History of Britannia Industries Limited
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2024-02-02T10:37:47+00:00
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Learn about the Britannia Industries history, India's oldest and most loved food company. Discover how it grew from a biscuit house to a global total foods giant.
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Shoonya Blog
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https://blog.shoonya.com/history-of-britannia-industries-limited/
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If you are the ’80s or ’90s kid, do you remember those Britannia Bikis Classic, sugar-coated little hearts, and those fruit cakes that were a bit pricey, but our parents still got them for us as bait to not miss school?
However, not only this, but even Generation X (before the ’80s) has been cherishing the products of this food giant.
Today, we are going to talk about the bakery giant behind the most-loved cakes, cashew cookies, milk cookies, and more: Britannia Industries!
In this blog, we will explore the history of Britannia, from its humble beginnings in Kolkata to its current position as a global total foods company.
Britannia Industries History- Biscuits, Bread, and Beyond
Here is how the now most loved household biscuit and bakery brand has grown over the span of 120 years.
The Sweet Beginnings (1892-1900s)
This chapter takes you back to the early days when biscuits were just the beginning for Britannia.
A bunch of British folks in Kolkata decided to start something sweet – Britannia Industries.
They kicked off the whole venture with just Rs 295.
Can you imagine this?
That sounds more like starting your own biscuit empire that you wouldn’t be even aware of, with a mere pocket change, nowadays! Initially, they baked biscuits, cakes, and bread for the British officers and tea planters hanging out in India.
Wartime Heroes and Post-Independence Challenges (1910-1947)
From supplying service biscuits to the Indian Army during the Second World War to facing challenges post-independence, this era paints a picture of Britannia’s resilience and evolution.
As the years rolled on, in 1918, Britannia became a public limited company, flaunting the name Britannia Biscuit Company Limited.
Britannia achieved a milestone by becoming the first company east of the Suez Canal to utilize imported gas ovens. Their business was thriving, and, more importantly, Britannia was gaining a reputation for delivering quality and value.
Fast forward to the Second World War – Britannia wasn’t just about biscuits; they stepped up big time.
They supplied biscuits to the Indian Army and even set up a training centre for disabled soldiers.
That was like turning biscuits into a force for good!
In 1924, Britannia established a new factory in Mumbai. During the same year, the company became a subsidiary of Peek Frean & Company Limited UK, a prominent biscuit manufacturing company.
Post Independence Era
After India got its independence in 1947, things got tricky.
There were challenges left and right – partition, shortages of raw materials, and tough competition from other biscuit makers.
But did Britannia back down?
No way!
In 1954, facing challenges, Britannia set up fancy machines in Mumbai.
The same year, they started making good-quality sliced bread in Delhi.
By 1965, they opened a new bread bakery in Delhi.
In 1975, Britannia took over delivering biscuits from Parry’s.
In 1976, they started selling Britannia bread in Calcutta and Chennai.
In 1978, Britannia invited people to buy shares, and lots of Indians did – more than half!
In 1979, they changed their name from Britannia Biscuit Company Limited to Britannia Industries Limited, showing they were doing more than just biscuits.
The ’90s Shake-Up and Total Foods Vision (1990s-2000s)
As India’s economy opened up, Britannia faced new challenges and embraced transformation. This part of the story unfolds the ’90s shake-up, marking the journey towards becoming a total foods company.
The ’90s brought big changes when the Indian economy opened up.
More players entered the bakery market, and Britannia Industries had to step up its game too.
To make that happen, they shook things up – a new look, a new mindset, and a bunch of cool new products like Tiger, NutriChoice, Little Hearts, and 50-50.
And guess what?
They were ranked among India’s most trusted brands.
Growth, Innovation, and Beyond (2000s-Present)
In 2000, they hit a whopping Rs 1000 crore in turnover – that’s like rolling in biscuit dough!
Fast forward to the present day, Britannia’s story continues.– Britannia Industries is still baking up a storm.
They’ve added more goodies to their lineup – cakes, rusk, croissants, milkshakes, and even coconut water.
Britannia Industries: A Major FMCG Player
Britannia Industries is currently ranked fifth among the top FMCG companies based on market capitalisation, indicating its substantial presence in the market.
According to the latest information, Britannia boasts strong financial numbers.
Britannia Industries Overview
Market Presence
Ranked 5th among top FMCG companies.
Stock Information (As of 19th Jan 2024)
Share Price: ₹5150
Market Cap: ₹124,070 Cr
Financial Performance (Quarter ending 30th Sep 2023)
Revenue: ₹4,350 Cr
Legacy and Global Presence
Over 130 years of legacy.
Operations in 80+ countries worldwide.
Britannia Industries Introduction
Year of foundation: Britannia Industries was established in 1892 by a group of British businessmen in Kolkata.
CEO and MD: The current Executive Vice-Chairman and Managing Director of Britannia Industries is Varun Berry.
Britannia Industries Owner/ Chairman: Nusli Wadia
Current market cap: As of January 19th, 2024, the market capitalisation of Britannia Industries was ₹1,24,070 Cr.
Headquarters: The headquarters of Britannia Industries is located at 5/1A, Hungerford Street, Kolkata, West Bengal, India.
Parent company: Britannia Industries is part of the Wadia Group, led by Nusli Wadia, who serves as the Chairman of the company.
Products offered: Britannia Industries provides a variety of food products, including biscuits, breads, cakes, rusk, dairy products, beverages, and snacks. Some of its popular brands include Good Day, 50-50, Marie Gold, Tiger, NutriChoice, Milk Bikis, Bourbon, Little Hearts, Pure Magic, and Cheese.
Britannia Industries Limited: Charting a Responsible Future
They’re cooking up new ways to be eco-friendly and caring for folks.
So, what’s Britannia’s vision for the future?
To be a responsible global total foods company, serving up exciting goodness all day long with all these finger-licking products:
• Biscuits: Britannia is one of the leading biscuit manufacturers in India, with popular brands such as Good Day, 50-50, Marie Gold, Tiger, NutriChoice, Milk Bikis, Bourbon, Nice Time, and Little Hearts. Britannia biscuits are available in various categories, such as cookies, crackers, cream, health, and treats.
• Bread: Britannia breads include wheat bread, multigrain bread, fruit bread, sandwich bread, pav, bun, and kulcha. They are made from premium ingredients and are enriched with essential nutrients.
• Cakes: Britannia cakes include fruit cake, nut & raisin cake, chocolate cake, muffin, cupcake, and brownie.
• Rusk: Britannia rusk is a crispy and crunchy snack made from wheat flour, sugar, and butter and comes in different flavors such as elaichi, milk, and suji toast.
• Dairy: Britannia dairy products include cheese, butter, ghee, dahi, milk, and beverages and are made from fresh and pure milk, offering a range of benefits such as calcium, protein, and probiotics.
• Snacks: Britannia snacks are tasty and convenient, suitable for enjoyment anytime, anywhere. Britannia snacks include wafers, salted snacks, and nuts.
And that is the story of Britannia – from a little biscuit house in Kolkata to a snacking sensation loved by all.
Cheers to more biscuits, cakes, and goodness from Britannia!
FAQs| Britannia Industries History
Source- britannia.co.in
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Britannia Inds. Summary: Latest Updates and Details
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Britannia Industries Ltd Summary: Check out the latest management information and corporate updates of Britannia Inds. at India Infoline
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Britannia Industries Ltd Summary
Britannia Industries Limited (BIL) is one of Indias leading FMCG companies. Britannias product portfolio includes Biscuits, Bread, Cakes, Rusk, and Dairy products including Cheese, Beverages, Milk and Yoghurt. Its brand portfolio includes Tiger, Marie Gold, Good Day, 50:50, Treat, NutriChoice and Milk Bikis. BIL has a presence in more than 60 countries across the globe. The Companys international footprint includes presence in Middle East through local manufacturing in UAE and Oman. It is also the market leader in Nepal. Presently, it is engaged in manufacturing and sale of various food products.The Company was registered in March 21st, 1918 as a Public Limited Company. The Companys plants are situated in Kolkata, Delhi, Chennai, Mumbai and Uttarakhand. In 1921, it became the first Company east of the Suez Canal to use imported gas ovens. Britannias business was flourishing. But, more importantly, Company was acquiring a reputation for quality and value. As a result, during the tragic World War II, the Government reposed its trust in Britannia by contracting it to supply large quantities of service biscuits to the armed forces. A new factory was established in the year 1924 at Kasara Pier Road in Mumbai. In the same year, the Company became a subsidiary of Peek, Frean & Company Limited, U.K., a leading biscuit manufacturing company, and further strengthened its position by expanding the factories at Calcutta and Mumbai. In 1952, the Kolkata factory was shifted from Dum Dum to spacious grounds at Taratola Road in the suburbs of Kolkata. During the same year automatic plants were installed in Calcutta and later in 1954 the automatic plants were installed in Mumbai plant, also in the same year the development of high quality sliced and wrapped bread in India was initiated by the company and was first manufactured at Delhi and a new bread bakery was set up at Delhi in the year 1965. Britannia Biscuit Company takes over biscuit distribution from Parrys during the year 1975. In 1976, the company had introduced Britannia bread in Calcutta and Chennai. During the year 1978, the company made Public issue, in that Indian shareholding crossed 60%. The Company re-christened from Britannia Biscuit Company Limited to Britannia Industries Limited with effect from 3rd October of the year 1979. The Company had signed a 10-year technical collaboration agreement with Nebico Pvt Ltd., Nepal during the year 1980 for the supply of know-how relating to manufacturing, packaging and marketing of biscuits and selection of plant and machinery. During the year 1989, BILs Executive Office was relocated to Bangalore. During the year 1990, two new brands of biscuits, Elaichi Creamand and Petit Beurre were launched. Also, in the same year a new cashew badam variant of the brand Milk Bikis and brand extension of pure magic biscuit Vanilla cream were launched, Fruit bread was launched in Delhi. The Company launched two new speciality brands in the year 1991 viz., Britannia milk bread and Britannia brown bread in Delhi and extended nationally its main brands Petit Beurre and Elaichi Cream. In 17th August of the year 1991, the Company handed over its Soya unit at Vidisha, MP to SM Dychem Ltd. BIL had celebrated its Platinum Jubilee in the year 1992. After a year in 1993, Wadia Group had acquired the stake in ABIL, UK and becomes an equal partner with Group Danone in BIL. The Company was in re birth phase during the year 1997, new corporate identity Eat Healthy, Think Better leads to new mission of Make every third Indian a Britannia consumer and in the same year BIL entered into the dairy products market. In 1998, BIL had launched Half/Half, a soft cake filled with cream in two variants, chocolate-vanilla and vanilla-orange. The Company had rolled out its flavored milk brand Zip-Sip in tetrapaks in the year 1999. Zip-Sip had been launched in Mumbai and some markets in the South.Forbes Global Ranking rated the company during the year 2000 among Top 300 small companies. In the same year, the company had launched Britannia Milkman Butter, a product under the Milkman brand. BIL made its fund in-principle agreement to acquire 49 per cent of Kwality Biscuits in the year 2001 through internal accruals. During the year 2002, the company had entered into a joint venture with the Fonterra Cooperative Group, New Zealands biggest company and one of the leading diary co-operative groups in the world and the Britannia New Zealand Foods Pvt. Ltd was born. Pure Magic, the companys product was winner of the Worldstar, Asiastar and Indiastar award for packaging in the same year 2002. After a year, in 2003, BIL had launched Treat Duet, most successful of the year and Britannia Khao World Cup Jao rocks the consumer lives yet again. During the year 2004, Britannia accorded the status of being a Superbrand and the brand Good Day added a new variant Choconut in its range. Reviewed marketing alliance with the Kolkata-based Thacker Dairy Products Pvt Ltd. In the year 2005, Britannia New Zealand had launched health drink for adult. The new plant in Uttaranchal, commissioned during the year 2005, it was ahead of schedule. In the same year, BIL launched yet another exciting snacking option the Britannia 50-50 Pepper Chakkar. BIL had forged a strategic alliance with CCD Daily Bread Pvt Ltd in the year 2006, a Bangalore based Company engaged in manufacturing and retailing of premium breads, cakes snacks and high end ready to eat foods. In the year 2007, Britannia industries formed a joint venture with the Khimji Ramdas Group and acquired a 70 percent beneficial stake in the Dubai-based Strategic Foods International Co. LLC and 65.4% in the Oman-based Al Sallan Food Industries Co. SAOG. The company was rated as the No 1 Most Trusted Food Brand in a survey conducted by AC Nielsen ORGO-MARG and published in Economic Times in the year 2007. Britannia launched Iron fortified Tiger Banana biscuits, Good Day Classic Cookies, Low Fat Dahi and renovated MarieGold during the period of 2008. BIL was ranked 27th place in the list of Indias Fastest Growing Large Companies by Business Today, Special on June of the year 2008. In 2009, Britannia took full control of Daily Bread. During the year, Britannia New Zealand Food (BNZF) became a BIL subsidiary after BIL bought out New Zealands Fonterra from the existing joint venture. BNZF was renamed Britannia Dairy Pvt. Ltd. (BDPL). During the year, Britannia became the first bakery brand in India to remove trans-fats from 99.9% of its products. During the year, Wadia Group became the largest shareholder in BIL after acquiring stake holdings from Group Danone.In November 2011, Britannia Bread launched its new range of Health Breads in Delhi. The range consists of Honey & Oats Bread, Multi-Grain Bread, 100% Whole Wheat Bread and Multi-Fiber Bread.In 2013, Britannia launched new NutriChoice Crackers Range, a biscuit made with the natural taste of sun-kissed golden wheat.In 2014, Britannia entered into an exclusive tie-up with Amazon for the launch of its latest product Good Day Chunkies, a super-premium chocolate chip cookie. In 2015, Britannia Bourbon, Indias first premium chocolate biscuit, completed 60 glorious years.In 2016, Britannia launched Cake Biscotti, Indias first ever classic Bridge product combining the best of the world of a cake and that of a cookie. During the year, Britannia launched its state of the art R&D Centre facility in Bidadi, Karnataka.The Board of Directors of Britannia Industries at its meeting held on 9 February 2016 considered and approved a Scheme of Arrangement under Sections 391-394 of the Companies Act, 1956 for demerger of the Manufacturing Business division and Retail Sales Business division of Daily Bread Gourmet Foods (India) Private Limited, a wholly-owned subsidiary of Britannia Industries, into Britannia Industries. During the year 2016-17,this demerger was completed.On 28 March 2017, BIL announced that it has signed a joint venture agreement with Chipita S.A., a Greek company, for the manufacture and sale of ready-to-eat delicious croissants in India through a joint venture company namely Britchip Foods Limited. BIL will hold 60% stake and Chipita will hold 40% stake in Britchip Foods Limited.Also in the year 2016-17, the Company acquired 26% stake in Sunandaram Foods Private Limited, a cake manufacturing unit in Assam. During the year 2017-18, the Company incorporated a wholly owned Subsidiary in Nepal under the name of Britannia Nepal Private Limited.During the year 2018-19, voluntary winding up of Daily Bread Gourmet Foods (India) Private Limited was initiated considering the unviability of the business in spite of the best efforts taken by the Company to revive the same.During the year 2019-20, Company incorporated a wholly owned subsidiary in Dhaka, Bangladesh under the name of Britannia Bangladesh Private Limited. It sold equity stake in Klassik Foods Private Limited, an Associate Company, during the year.During the FY 2021, Strategic Foods Uganda Limited in Uganda and Britannia Egypt LLC in Egypt were incorporated as step-down subsidiaries of the Company.During 2020-21, the Company implemented 3 transformational projects which mainly comprised of S/4 HANA to integrate all business processes and implement best-in-class practices across value chain; online dealer management system to take sales processes to the next level and end-to-end integration of vendor processes.The final listing and trading approval for the bonus debentures was received from the BSE Limited and National Stock Exchange of India Limited on 16 July 2021 and the bonus debentures got listed on both the exchanges w.e.f. 20 July 2021.During year 2020-21 , the Company commissioned 3 Biscuit Lines, 1 snack line and expanded its depot at the Integrated Food Park,Ranjangaon, in Maharashtra.During year 2021-22, the Company commissioned 2 Wafer lines at Perundurai Factory.During the year 2022-23, the Company commissioned Dairy Plant at Ranjangaon Food Park, Maharashtra; commissioned two large greenfield factories in Tirunelveli, Tamil Nadu and Barabanki, Uttar Pradesh; expanded Khurda and Ranjangaon Factories with biscuit and rusk lines.The Company through JVA with Bel SA, France and Britannia Dairy Private Limited (BDPL) sold 49% of its equity stake in its wholly owned subsidiary, BDPL to Bel and consequently, BDPL became a Joint Venture Company of Britannia Industries Limited and Bel SA in India under the name of Britannia Bel Foods Private Limited. Kenafric Biscuits Limited, Kenya and Catalyst Britania Brands Limited, Mauritius, became step down subsidiaries of Company during the year 2023. In 2023, the Company launched Nutrichoice Seeds, Herbs & Protein Cookies and also transformed Nutrichoice Essentials and Digestive with 100% Atta; launched Biscafe, a thin cracker which is designed as a great accompaniment to coffee; launched Winkin Cow Brand and invested in aseptic PET drinks technology; launched Centre-filled Croissants under the brand Treat .
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Britannia Industries (NSE:BRITANNIA) Cash Conversion Cycle
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Britannia Industries (NSE:BRITANNIA) Cash Conversion Cycle as of today (August 10, 2024) is -8.24. Cash Conversion Cycle explanation, calculation, historical d
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https://www.gurufocus.com/term/cash-conversion-cycle/NSE:BRITANNIA
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Production Officer at Britannia Industries For Food Technology – Apply Online
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2024-07-01T06:03:21+00:00
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Production Officer at Britannia Industries For Food Technology - Apply Online. Dairy Technology Jobs. Britannia Industries Ltd Jobs
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en
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BioTecNika
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https://www.biotecnika.org/2024/07/production-officer-britannia-industries-food-technology-apply-online/
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Home Course B.Tech Production Officer at Britannia Industries For Food Technology – Apply Online
Course
B.Tech
Jobs
Food Technology Jobs
Production Officer at Britannia Industries For Food Technology – Apply Online
Production Officer at Britannia Industries For Food Technology – Apply Online
Production Officer at Britannia Industries For Food Technology – Apply Online. Interested and eligible applicants can check out all of the details on the same below:
Production Officer
Full Time
Job Code: BI-76562
Ranjangaon MIDC, Maharashtra, India
1 position
Expires on: 02/07/2024
Required Experience
2 – 7 Years
Skills
UHT, PET, Flavoured Milk
Position Title: Shift officer- Aseptic PET Line
Function: Dairy
Organization Overview
Britannia is a 100 YEAR Organization based in Bangalore with presence in Biscuits, Breads, Cake, Rusk, Dairy and now also in Snacking. The company celebrated its 100th year in 2018 and has emerged as a Market Leader in the Biscuit space while also launching a host of new products and entering new categories, inching closer to the vision of being a Global Total Foods Company. We are also one of the 15 best employers in India as per the Aon Best Employers Study, 2019.
Role Purpose
To handle Dairy Process & products for Dairy plant from commissioning stage to project closeout and look after operation of same facility post completion of project.
A Shift officer-Aseptic PET Line is a specialist in
their function and in a specific Dairy & Beverage product category and therefore must have a deep understanding of the Process flow, P & ID, product properties, Food safety, Equipment maintenance, quality aspects and must understand that they are part of a team made up of the various manufacturing functions especially Projects, Production and Quality Management. He has to provide direction to team for design and operation of dairy plant.
Key Stakeholders
Internal:
Production team
Maintenance Team
Safety team
Quality Team
Planning team
R & D Team
Logistics
Purchase
HR & Admin
External:
Equipment vendors
RM PM vendors
Government authorities
Contractors
Education
Qualifications: B.Tech in Dairy/Food Technology/BE/Diploma Mechanical
Experience
Minimum 2 – 7 years of experience in multiple products manufacturing –like UHT milk, flavoured milk Juice, and juice with milk blend in PET in reputed /large organizations.
Must have exposure to UHT plant operation & lead a sizable team
Core Competencies
In-depth knowledge of Dairy/Beverage products manufacturing plants, process technology and product development.
Knowledge of food safety, regulatory requirements for food safety and hygienic engineering (OSH&R).
Analytical skills in problem solving.
Communication and networking.
General understanding of financial analysis and relevant business drivers. The marginal contribution of the various products.
An understanding of the competitor’s products, how the product is distributed and the consumer’s preferences.
Support Tools
MS Office
SAP
Key Responsibilities
Management Responsibilities
Define, propose and monitor the Production team plans and objectives in accordance with Key Principles and the Plant Management Activity.
Lead and coordinate production team and maintain competencies, motivation and performance to achieve the team’s mission and objectives.
Propose and control the cost relating to the production as well as FG.
Propose and implement work processes, procedures and technical resources in accordance Key Principles and the Electricity & Automation.
Coordinate personnel (e.g. technicians, instrument fitters, contractors etc.) to ensure Electrical objectives are satisfied.
Functional Responsibilities
Production management
Coordinate personnel (e.g. other shift officers, technicians, contractors etc.) to ensure the production objectives are satisfied. Propose and control the cost of the production in accordance with the Guidelines for Capital Investment. Propose and monitor the production in accordance with the key performance indicators. Ensure work place safety and effective communication of Safety, Health and Environment to all team members.
Understanding of certain process excellence tools like Lean six sigma, TPM, etc.
Responsible for minimization of spares consumption by effectively planning and implementing maintenance schedules.
Responsible for preserving the used spares and deposit in stores.
To plan for minimum number of personnel to carryout production activities without causing any hindrance to the production.
Monitor quality of incoming raw materials and finished goods by reviewing lab data.
Responsible to identify and submit manpower requisitions to HOD.
To plan and use minimum number of casual labour wages.
Responsible to ensure that the full cooperation is given to conduct internal and statutory audit.
To go through the audit queries, analyze and initiate compliance action immediately.
To ensure that the issues raised in Audit are not repeated again.
Responsible to ensure that all MIS reports, SAP entry, production data including finance data are sent to reporting manager before targeted date of every month.
Operation and Maintenance of Plant
Follow the requirements of Good Manufacturing Practice, HACCP, Quality System, Hygienic engineering, Ergonomic engineering etc.
Liaise with Packaging, New Product Development, Production, Quality Management and Marketing to resolve technical issues.
Specify any maintenance requirements, procedures and checks which relate to the process lines.
Manage/control a database relating to process engineering.
To plan and prepare preventive maintenance schedules for process and packing station at different intervals like daily, monthly, etc.
To monitor with Eng. Supervisor of each section and ensure to carry out the preventive maintenance schedules as per plan.
To monitor with Eng. Supervisor of each plant and ensure to carry out the Lubrication schedules as per plan.
To review the records of the findings of preventive maintenance schedules, after implementation during the visits to all section.
Initiate and drive Continuous Improvement. This must not be limited to machinery and assets but must also include systems, processes, methods, organization, staffing and employee skill levels.
Drive the correction of process related product quality and/or operational performance deviations.
Hands on experience in Man Management, statutory and legal compliance.
Ensure that both operators and trades have sufficient process and plant function knowledge to optimize the operation of the plant and the manufacture of quality product.
Continuously challenge the way things are done and be always looking for opportunities.
Functional Responsibilities Continued
Ensure that the operators and mechanics, who are the ones closest to the product, receive direct on the line coaching in machinery and line operation skills such that they understand. Provide leadership for effective utilization of resources like- manpower, machine raw material and time efficiently to produce quality product for achieving organizational goals.
To provide leadership to men working in the department and be accountable for their performances.
Ensuring manufacturing of products as per customer expectations within budgeted norms.
To participate in the management review meetings and add value towards continuous improvement of the system.
To participate in the inter departmental communication like HR, QC, Store, Safety, Utility for smooth running of the plant.
To work out new cost saving measures & energy management in technical operations, manufacturing & maintenance operations. RM/PM change or process change. Conducting end to end trials at plants for any RM/PM change or process change.
Keep track on salvage/rework generation & utilization of the same (If permissible) within prescribed limit as per food safety.
Good command on PLC operation.
Ensure achievement of daily shift production targets and performance.
Monitoring and control on production losses and optimization of production cost by line efficiency monitoring and inventory control.
To ensure all log books are up to date & Audit ready.
Troubleshooting at plant level as and when required.
To provide production support in case of new line commissioning.
To assign work to direct reports, who in turn will allocate work to the officers, operators.
Responsible to maintain hygienic of all machinery / equipment / instruments.
To ensure CIP schedules and manual cleaning schedules are carried out as per plan.
To ensure plant hygiene is of international standards and to follow the checklist given for the purpose.
To ensure all process conditions are maintained within the specifications.
To identify and assess training needs of the subordinates in the department.
Accountable for safety of product, equipment and personnel working in the department.
Provide required manpower for smooth & proper working.
Share all required information with the higher ups & the sub-ordinates.
Inspire & motivate the people for better work & continual improvement.
Check the feasibility of the new process excellence ideas and cost efficiency program.
To deal with contingencies arising in the department in consultation with immediate superior.
Key Performance Indicators
Actual production cost as a percentage of the originally approved credit.
Recovery of total solid in the prescribed range & improvement opportunities on the same.
Reconciliation of RM, PM time to time to keep it in the prescribed range.
Keep the plant up to date & Audit ready always.
Continuous, efficient and reliable operation of the plant measured using selected KPIs.
Continuous improvement of operations.
Operation meets regulatory requirements.
Assist in the development of a competent and effective workforce.
APPLY ONLINE HERE
Editor’s Note: Production Officer at Britannia Industries For Food Technology – Apply Online. Production Officer at Britannia Industries. Please ensure you are subscribed to the Biotecnika Times Newsletter and our YouTube channel to be notified of the latest industry news. Follow us on social media like Twitter, Telegram, Facebook and Instagram.
Diligence + Intelligence + Learned +Understanding +Xenial + Idealistic = DILUXI. Girl with the golden hands, She has worked hard and transformed BioTecNika's Alerts section with Latest Notifications and Articles with most profound insights. When we need a reliable hand at work, All eyes turn to her!
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dbpedia
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https://us.ukessays.com/essays/marketing/britannia-industries-limited-is-one-leading-bakers-marketing-essay.php
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Britannia Industries Limited Is One Leading Bakers Marketing Essay
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2023-11-06T20:30:17+00:00
|
Britannia Industries Limited is one of the leading players in the bakery segment in India. Its product portfolio includes various types of biscuits, breads and cakes. The company primarily operates in
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https://us.ukessays.com/essays/marketing/britannia-industries-limited-is-one-leading-bakers-marketing-essay.php
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Britannia Industries Limited is one of the leading players in the bakery segment in India. Its product portfolio includes various types of biscuits, breads and cakes. The company primarily operates in India. It is headquartered in Kolkata, India and employed about 2,358 people as on March 2008.
The company recorded revenues of INR 26,177 million during the fiscal year ended March 2008, an increase of 13% over 2007. Top line of Britannia was driven by price increases by way of reduction in pack sizes and extension of excise exemption to biscuits with maximum retail price (MRP) below INR 100 per kilogram from INR 50 per kilogram earlier. The operating profit of the company was INR 2,723 million during fiscal year 2008, an increase of 80% compared with 2007. The PAT was INR 1,910 million in fiscal year 2008, an increase of 77.5% compared with 2007.
BUSINESS DESCRIPTION
Britannia Industries Limited (Britannia) is engaged in producing and distributing bakery products including a variety of biscuits, breads, rusks, and cakes. The Wadia group of India along with Groupe Danone of France, are equal shareholders in ABIL, the UK which is a major shareholder in Britannia. The company operates through three broad product categories: biscuit and high protein food, bread and rusk, and cake.
The biscuit products are marketed under the following brands: Tiger, Good Day, 50 – 50, Marie Gold, Treat, Milk Bikis, Nutri Choice, Time Pass, Pure Magic, Little Hearts, Nice Time, Vita Marie Gold and Greetings. Bread products are sold under the Premium Bakes, white sandwich bread brand. Cake products are sold under the Premium Bakes, Cakes and Rusks brands. The company also offers ‘Cup Cakes’ in its cakes category.
Britannia’s dairy operations are conducted through its subsidiary, Britannia New Zealand Foods Company Private Limited (BNZF). BNZF is a joint venture between Britannia and Fonterra Co-operative Group of New Zealand.
The company exports its products to the US, Ghana, Seychelles, Singapore, Oman, Saudi Arabia, United Arab Emirates, Qatar, Bahrain and Kuwait.
HISTORY
Britannia was established with an initial investment of INR295 in Kolkata in 1892. The operations of the company were mechanized with the advent of electricity in 1910. The company started using gas ovens in 1921. Britannia Biscuit Company took over biscuit distribution from Parry’s in 1975. In 1978 the company became a publicly listed company. In the following year, the company was renamed as Britannia Industries Limited (Britannia). The company’s executive office was relocated to Bangalore in 1989. In 1993 Wadia group acquired stake in ABIL, UK and became an equal partner with Groupe Danone in Britannia. Britannia introduced its new corporate identity ‘Eat Healthy, Think Better’; and launched Tiger Cashew Badam and Cheeker brands of biscuits in 1997. In 1998, the company introduced Milk Bikis and Nutri Choice brands; and Etnic Snacking. In 1999, the company issued bonus shares in the ratio of 1:2. During the same year, the company also introduced cheeselets.
The company introduced biscuit brands GD Choco, Time Pass and Vita Marie Gold in 2000; Rourbon Pocket Packs, Maska Chaska and Vita Marie Gold in 2001. Britannia introduced many brands of biscuits in 2002 which include Time Pass Classic Salted, Jim Jam Pocket Packs, Chai Biskoot, Tiger Cream, GD Ginger Nut and Pure Magic. The company launched a joint venture with Fonterra, a dairy company; and started Britannia New Zealand Foods in 2002. The company launched, Treat Duet, a biscuit brand in 2003. In the following year, Britannia’s Good Day biscuit added Choconut, a new variety to its range of biscuits. The rebirth of Tiger biscuit was seen in 2005, with the tag line ‘Swasth Khao, Tiger Ban Jao’. In the same year Britannia launched Greetings range of premium assorted gift packs; and Britannia 50-50 Pepper Chakkar. In the same year, the company started its new plant in Uttaranchal. In July 2006, Britannia acquired Cafe Coffee Day’s 50% stake in Daily Bread, a Bangalore-based high-end food retailer.
In March 2007, Britannia formed a joint venture with the Khimji Ramdas Group, one of the largest business conglomerates in the Middle East. Britannia and its associates acquired 70% beneficial stake in Dubai-based Strategic Foods International and Oman-based Al Sallan Food Industries Co SAOG. In January 2008, Britannia was asked by the Calcutta High Court to pay back the INR12 crore, which it withdrew from the company’s pension fund.
MAJOR PRODUCTS AND SERVICES
Britannia Industries Limited (Britannia) is a producer and distributor of bakery and dairy products. It manufactures, distributes and sells a range of branded products including:
List of products:
Biscuits
Bread
Rusk
Cakes
Cheese
Butter
Milk
List of selected brands:
50:50
Deluca
Good Day
Little Hearts
Milk Bikis
MarieGold
Maska Chaska
NutriChoice
Pure Magic
Treat
Tiger
REVENUE ANALYSIS
Britannia recorded revenues of INR 26,177 million during the fiscal year ended March 2008, an increase of 13% over 2007.
The company generates revenues through three business divisions: biscuits and high protein foods (89% of the total revenues during fiscal year 2008), bread and rusk (7.4%), and cake (2.9%).
Revenue by division
During the fiscal year 2007, the biscuits and high protein food division recorded revenues of INR 23,299 million, an increase of 11.4% over 2007.
The bread and rusk division recorded revenues of INR 1,956 million in fiscal year 2008, an increase of 36.3% over 2007.
The cake division recorded revenues of INR 769 million in fiscal year 2008, an increase of 23.2% over 2007.
The others (including scrap sales) division recorded revenues of INR 144 million in fiscal year 2008, a decrease of 28% over 2007.
SWOT ANALYSIS
Britannia is a producer and distributor of bread, snacks and dairy products. The company has a portfolio of top selling food brands. Britannia produces and distributes premium brands such as 50:50, Good Day, Little Hearts, Milk Bikis, MarieGold, Maska Chaska, NutriChoice, Pure Magic, Treat, and Tiger. An extensive portfolio of global brands facilitates customer recall and enhances Britannia’s market penetration capabilities. However, an impending litigation disputing the trademark of Britannia’s biscuit brand Tiger, with Danone, could adversely impact the company’s brand image and its international expansion plans.
Strengths
Weaknesses
Strong brand name
Launch of innovative products and brand extensions
Growth in operating segments
High dependence on Indian market
Fluctuating cash from operations
Opportunities
Threats
Inorganic growth
Strategic alliances
Growing demand for health and convenience products
Litigations
Inflationary dairy product prices
Outbreak of animal diseases
Strengths
Strong brand name
The company has a strong portfolio of top selling food brands. Britannia produces and distributes premium brands such as 50:50, Good Day, Little Hearts, Milk Bikis, MarieGold, Maska Chaska, NutriChoice, Pure Magic, Treat, and Tiger. Each of the company’s six pillar brands (Good Day, Tiger, 50:50, Treat, Milk Bikis, and Marie Gold) generate sales in excess of INR1 billion. Further, the company is entering new product lines like snacking and health products and thus capturing a larger market share. In 2007, most of the company’s brands secured double digit growth rate. Additionally, Britannia was ranked second among FMCG companies in the ‘Business World’s Most Respected Company Survey 2006’. With a wide portfolio of brands and choice of product category, the company is able to differentiate itself in the market, nurture customer loyalty, and reduce its business risk. As a dairy product company, Britannia enjoys strong brand equity, and its extensive portfolio of global brands has helped it to expand its market presence and visibility. A strong brand portfolio not only facilitates customer recall but also enhances Britannia’s market penetration opportunities.
Launch of innovative products and brand extensions
The company has a strong orientation towards product innovation. In 2007, the company demonstrated its ability to innovate and extend its brands and products. Britannia launched many innovative products in 2007. Through an innovative product lineup, the company plans to strengthen and sharpen its brands and transform them from existing formats and conventional archetypes. In this context, the company launched cream and coconut varieties in its Tiger brand range. Further, the ‘Chota Tiger’, which is an extension of Tiger brand, draws on the kids snacking habit presenting biscuits as ‘small, pop-able, snacks’ in a pouch pack. Similarly, the company also launched added Fruit Rollz under its Treat brand. Further, the company launched ’50:50 Chutkule’ and ‘NutriChoice Digestive and SugarOut’. NutriChoice SugarOut is the first biscuit without added sugar, in the Indian market. Strong product innovation skills enable the company to stay ahead of the competition and create an edge in the market.
Growth in operating segments
Britannia’s operating segments has shown strong financial performance since 2005, which is evident from its revenue growth. Biscuit and high protein food segment revenue increased from INR14,926.9 million (approximately $330.8 million) in 2005 to INR20,910.8 million (approximately $463.4 million) in 2007, this representing compounded annual growth rate CAGR (2005-2007) of 18%. The bread and rusk segment also recorded increase in revenue from INR788.2 million (approximately $17.5 million) in 2005 to INR1,435.7 million (approximately $31.8 million) in 2007, this representing CAGR(2005-2007) growth of 35%. Further, the cake segment also recorded increase in revenue from INR355.7 million (approximately $7.9 million) in 2005 to INR624 million (approximately $13.8 million) in 2007, this representing CAGR(2005-2007) growth of 35%. Strong performance by the company’s operating segment enhances its financial standing and strengthens its position against its competitors.
Weaknesses
High dependence on Indian market
Though Britannia has made forays into other international markets, it is still dependent on the Indian market for a majority of its revenues. Though the company exports its products to many countries, the revenue contribution of regions other than India is too low to confer any significant geographical diversification benefit on the company. High dependence on India makes Britannia vulnerable to the market conditions in this region.
Fluctuating cash from operations
The company has not been able to generate consistent cash from its operations in recent times. The company has registered fluctuations in its cash from operations, registering a decline in every alternate year since 2004. Cash from operations decreased from INR1,961 million (approximately
$43 million) in 2005 to INR649 million (approximately $14 million) in 2006. Again in 2007, it increased to INR871 million (approximately $19 million). Fluctuating cash from operation could upset the company’s expansion plans.
Opportunities
Inorganic growth
Britannia is aggressively pursuing inorganic growth model. In March 2007, Britannia concluded two acquisitions, including its first ever overseas partnership. In March 2007, Britannia formed a joint venture with the Khimji Ramdas Group, one of the largest business conglomerates in the Middle East. Britannia and its associates acquired 70% beneficial stake in Dubai-based Strategic Foods International LLC and Oman-based Al Sallan Food Industries Co SAOG. The two companies are major regional players in the biscuits and cookies segments in the Gulf Corporation Council (GCC) markets. Both the companies export to more than 40 countries across the globe including Africa, Australia and Japan, thereby giving Britannia access to many new markets. These two acquisitions are expected to allow Britannia’s portfolio to extend to those countries in which they have a presence. The joint venture could provide Britannia an opportunity to grow its international footprint by leveraging on the complementary strengths of the two partners.
Strategic alliances
Britannia entered into strategic alliance with Daily Bread Pvt. Ltd. (Daily Bread) to participate in premium bread and allied products market in India. In July 2006, Britannia acquired a strategic 50% stake in Daily Bread, a Bangalore-based company engaged in the manufacturing and retailing of premium breads, cakes, and ready-to-eat snacks. Daily Bread operates in both institutional and retail segments, and offers a wide range of international quality bakery products, including 50 varieties of specialty breads. Post-acquisition, Britannia holds the brand Deluca in India. Daily Bread’s business model includes a chain of own and franchised retail outlets, and catering to institutional customers. Daily Bread operates seven outlets in Bangalore and since its acquisition by Britannia; two large outlets have been added. Britannia is keen to scale up the outlet chain to 30-40 cities beginning Fiscal 2008. This acquisition marks Britannia’s entry in the high-end, freshly baked gourmet food. This alliance will help Britannia to scale up the bakery business in select markets with a range of gourmet products sold under its brand names.
Growing demand for health and convenience products
Consumers worldwide have become more health conscious in recent years. Increasing number of consumers are opting for natural, fat-free and healthy food products. Food items containing trans-fat are losing market share as they are linked to cardiovascular diseases. The primary drivers for this trend are changing lifestyles, late marriages, increase in single-parent households, increase in number of homes with two working parents, and increased working hours. Consumer expenditure on away-from-home dining is rising. According to the US Economic Research Service, spending on food-away-from-home is expected to increase by almost 10% per capita until 2025. The trend towards low fat, low sugar and low carbohydrate foods and drinks continues to drive the market. Britannia offers a range of low-fat and sugar free products. With a strong emphasis on healthy foods, the company is likely to benefit from the increasing health food market. The global nutritional market exhibited strong growth in 2006, estimated at E127 billion ($159 billion), with half of this represented by the US market. The company is well positioned to exploit its focus on health and convenience platform to drive its future growth.
Threats
Litigations
Britannia and Groupe Danone (Danone), a French dairy and beverages giant, are engaged in intellectual property rights battle, since many years. Wadia group and Danone have an equal stake in Associated Biscuits International Holdings (ABIH), which is a major shareholder in Britannia. Both the companies are disputing over the trademark of Britannia’s biscuit brand, Tiger. Britannia has accused Danone of registering the Tiger Trademark globally without its consent. Danone has already registered Tiger brand in nearly 35 countries and has applied for registration of the Tiger trademark in over 70 countries.
In 2006, Britannia sued Danone in a Singapore court, seeking a speedy redressal of the Tiger brand issue. Danone has already registered Tiger trademark in Singapore, which will expire in November 2009. Britannia submitted its trademark application for Tiger in Singapore only in April 2007, which is still pending. An arbitration case between the two parties is also pending at the Bombay High Court. This long impending litigation (with Danone) could adversely impact Britannia’s brand equity and its international expansion plans.
Inflationary dairy product prices
Britannia, being a diary company, is exposed to general business risks faced by the global dairy market. Britannia is vulnerable to price fluctuations in the world market for raw materials such as flour, soya, maize and grain. In 2007, the industry witnessed an inordinate and simultaneous increase of approximately 20% – 25% in the market prices of all key commodities like flour, refined palm oil, skimmed milk powder, etc. The company’s top line growth of 28.4% was eroded by inflation in input costs, resulting in a gross margin decline of 6.7%.The global dairy market is marked by sharp fluctuations in the price of dairy products. Furthermore, sales prices are fixed with customers for relatively long periods in a number of markets, whereas the purchase prices of milk are subject to short-term fluctuations. In order to limit these risks, Britannia should try to minimize its operating costs by efficiently utilizing existing resources. Further increase in input cost could dampen the company’s gross margin, which could result in declining top-line growth.
Outbreak of animal diseases
Britannia, as a diary product company, is dependent on constant supply and quality of the raw materials like milk. Any outbreak of animal diseases (especially Foot and Mouth Disease caused by a virus which is one of the most contagious and feared diseases), can cause heavy loss in susceptible cloven-hoofed animals world over. Britannia, which markets all dairy-based products like butter, cheese, and biscuits to different countries, may get affected by milk supplies and the production and sale of dairy products in case of diseases outbreak thus affecting its revenues.
TOP COMPETITORS
The following companies are the major competitors of Britannia Industries Ltd.
Nestle India Ltd
ITC Corporation Ltd.
Parle Products Pvt. Ltd.
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en
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Britannia closing iconic unit sparks concern of ‘flight of industry’ from West Bengal
|
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[
"Shiv Sahay Singh"
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2024-06-25T22:07:00+00:00
|
Britannia Industries faces controversy over factory closure in Kolkata, sparking debate on industry flight from West Bengal.
|
en
|
https://www.thehindu.com/favicon.ico
|
The Hindu
|
https://www.thehindu.com/business/Industry/britannia-closing-iconic-unit-sparks-concern-of-flight-of-industry-from-west-bengal/article68332409.ece
|
With FMCG major Britannia Industries Limited notifying the stock exchanges that all permanent workers at its Taratala factory in Kolkata have accepted voluntary retirement, a fresh row has erupted over the flight of industry from West Bengal.
The Bharatiya Janata Party (BJP) leadership described the development as “shutdown of Britannia Industries’ factory” even though the company said there would be no material impact on the business operations of Britannia Industries.
“The Britannia factory, once a beacon of industrial vitality in Bengal, suffered significant attrition during the Left regime due to the CPI(M)’s pervasive ‘Unionbaji’. TMC’s relentless ‘Tolabaji’ was the final nail in the coffin, which ultimately led to the demise of the factory,” BJP IT cell chief Amit Malviya said.
Mr. Malviya, the BJP’s co-incharge of West Bengal, said the State is already mired in “severe unemployment exacerbated by the TMC’s extortion and syndicate, now faces an even more dire predicament with the factory’s closure, triggering massive layoffs”.
In an intimation to the stock exchanges on June 20, the company informed that all permanent workers of the Taratala factory had accepted the voluntary retirement scheme. According to sources, there were about 122 permanent workers.
“The production at the plant has been suspended for about two weeks, this resulted in the workers accepting the terms of the VRS. Now the management is in talks with the contractual workers,” Gautam Roy, a leader with Centre of Indian Trade Unions (CITU), the labour arm of Communist Party of India (Marxist), said.
The development has triggered strong reactions because Britannia has been one of major brands operating out of the State and the factory at Taratala has been an iconic landmark in Kolkata.
Questions have also been raised about the fate of the land of Taratala factory located on 11 acres belonging to Kolkata Port. Mr. Roy said the land was on lease agreement renewed in 2018 for 30 years, extending to 2048.
Political analyst Kanchan Gupta took to social media and said that it is “strange feeling to learn that Britannia has shut its machines and switched off its lights at its sprawling factory in Kolkata”.
“I guess this was inevitable. In its mandatory filing at the NSE, Britannia has said employees have accepted a ‘voluntary retirement scheme’ and that shutting of the factory “would not have any material impact on the business operations of the company”. It means Britannia will maintain its earnings minus its operations in Calcutta,” he posted on X.
Local Trinamool councillor Anwar Khan said Britannia shutting down its unit is a business decision and has nothing to do with the industrial climate of the State. “The company has already set up a unit in Dankuni,” he said.
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https://www.mbaskool.com/marketing-mix/products/16985-britannia.html
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Britannia Marketing Mix (4Ps) & Marketing Strategy
|
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2017-02-20T00:00:00
|
Marketing Strategy of Britannia analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). Britannia Marketing Mix & Strategy covers its product, pricing, advertising & distribution strategies.
|
en
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https://www.mbaskool.com/favicon.ico
|
MBA Skool
|
https://www.mbaskool.com/marketing-mix/products/16985-britannia.html
|
Here is the marketing strategy of Britannia which analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Britannia Product Strategy:
The product strategy and mix in Britannia marketing strategy can be explained as follows:
Britannia manufactures wide variety of biscuits and dairy products. Britannia’s product strategy in its marketing mix width primarily consists of biscuits, bread, dairy, cakes and rusk. The product line depth is highest for biscuits consisting of several products, followed by cakes and breads. Britannia manufactures biscuits for various segments of consumers, types include sugar free biscuits, cream biscuits and jam biscuits. Some of its popular brands are Britannia Nutrichoice, Britannia Marie Gold, Britannia Pure Magic, Britannia Little Hearts etc. Britannia Tiger biscuits is the most famous of all products. Tiger biscuits also cater to the international markets like Australia, Malaysia and Indonesia. With their joint ventures with dairy companies, Britannia are now able to manufacture and sell cheese, dahi, ghee and butter. Its products are primarily intended for middle class people India, which forms the bulk of the population.
Image: company website
Britannia Price/Pricing Strategy:
Below is the pricing strategy in Britannia marketing mix strategy:
Britannia is one of the leading food brands in India. The food manufacturing industry is very competitive.
The base of Britannia’s marketing mix pricing strategy is competition. Also the primary segment for being middle class people, who are highly price sensitive, forces Britannia to play price war with its competitors. Britannia tries to bundle its products, which in turn reduces the price of their products, specially this can be seen in their products which are designed for the family packs. Their strategy of discrimination of prices help them earn larger profits from consumers who are willing to pay for healthier products and greater benefits. The price of Britannia products is very much comparable with its competitors, especially with that of Parle products, and they are almost the same.
Britannia Place & Distribution Strategy:
Following is the distribution strategy in the Britannia marketing mix:
Britannia distributes its products primarily via retail chain. The online segment, which contributes to less purchases, has been possible by having tie ups with large ecommerce organizations. Britannia products can be purchased from online portals. With extensive and strong distribution network Britannia products, can be found in all large and small urban areas across India. But the rural distribution network is not as good as that of the urban market. As a large FMCG player in India, Britannia primarily depends on distributors who then decide on dealers and retailers for distribution.
Britannia has made deals with large retailers like spencers, big bazaar which hosts large quantity of Britannia products and provides better display location.
Britannia Promotion & Advertising Strategy:
The promotional and advertising strategy in the Britannia marketing mix is as follows:
Since the brand, Britannia is present for more than 100 years, perception about Britannia is always good and enjoys high brand recall among consumers, this tends to be a great advantage for Britannia. Advertisements for Television, print media and billboards are few of the many techniques used by Britannia in their promotional marketing mix. Britannia has signed agreements with famous personalities to promote their brand, but this has been different for different products. A bigger part of their promotional activities is done in the sports sector. Britannia logo tagged cricket bats endorsed by international players plays an important promotional activity. Britannia also promotes their product as “essential for good health”, this captures the mind of consumers as nowadays people tend to be more conscious about the nutrient value of what they consume. Hence, this concludes the Britannia marketing mix.
About Britannia:
Britannia Industries Limited is a food manufacturing company in India, headquartered at Kolkata. It was launched in 1892, primarily for the officers during British Raj to provide them with quality tea time biscuits. Over the years, Britannia has changed hands from one group to another. In the year 1995, it had been acquired by the Wadia group; which is one of the oldest conglomerate in India. It has been under the Wadia group since then. In 2001 it went on with a joint venture with New Zealand Dairy, and thus extended its portfolio of products in the dairy segment.
Britannia gained huge revenues lately and total sales has been ₹7869 crores and has a total market share of 33% (approx.) currently. Headed by industrialist Nusli Wadia, Britannia is a giant in the ever-increasing food industry in India.
This article has been researched & authored by the Content & Research Team which comprises of MBA students, management professionals, and industry experts. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
Browse marketing strategy and 4Ps analysis of more brands similar to Britannia. The Marketing Mix & Strategy section covers 4Ps and 7Ps of more than 800 brands in 2 categories.
Continue Reading:
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en
|
The secret behind Britannia's success
|
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2014-01-03T00:00:00
|
The mantra for the biscuit maker is simple: Run a tight ship and make prudent investments in manufacturing and distribution.
|
en
|
Rediff
|
https://www.rediff.com/money/slide-show/slide-show-1-special-the-secret-behind-britannias-success/20140103.htm
|
The mantra for the biscuit maker is simple: Run a tight ship and make prudent investments in manufacturing and distribution.
Varun Berry, the 52-year-old executive director & chief operating officer of Britannia Industries, is riding a crest of good news.
The biscuit company's stock price has more than doubled since the start of this financial year, and net sales and profits are up 13.65 per cent and 109 per cent. Analysts are bullish about the company.
The metamorphosis is the result of a well-thought-out strategy that Berry has fine-tuned over the past twelve months since he joined the Bangalore-based company in January last year.
“Our focus will be on growing the top line. At the same time, we will make sure that our back-end remains tight. Because if your costs are not tightly managed, you can hardly be competitive,” says Berry, an FMCG veteran who has worked for PepsiCo as its chief executive and for Hindustan Unilever as part of its core leadership team.
…
The main plank of this strategy has been manufacturing its own products. Britannia has spent nearly Rs 300 crore in the last two years to take control of manufacturing, much of which was earlier outsourced.
Three new plants have come up — one each in Bihar, Odisha and Gujarat — and another one is being set up in Tamil Nadu, taking the total number of plants owned by the company to 12. These will together take care of 50 per cent of the company's manufacturing needs, with the rest coming from the 27 plants of contract manufacturers across the country.
Berry’s drive towards captive production is fuelled by changes in the government's manufacturing policy. “Manufacturing is a key part of our strategy because it will allow us to retain the advantage of technology as well as best practices. Since the government opened up biscuit manufacturing three years ago, having earlier reserved it for the small-scale sector, we have quickly capitalised on this to set up our own plants,” Berry says.
…
However, the executive director knows that change in strategy has to be handled with care. Britannia’s Managing Director Vinita Bali, who manages international operations, had set into motion the process to control costs and expand margins in her earlier posting as head of India operations. Berry has galvanised this process.
Taking over from Bali
“He (Berry) is very aggressive on the revenue front and has accelerated what Bali had begun. It is visible in the company’s performance since the first quarter of 2013-14 as perhaps Berry may have been given a much larger role in the India business even before the official announcement (of his appointment) was made,” says an analyst, who did not want to be named. He has given a ‘Buy’ rating to the maker of Tiger, Good Day and Marie biscuits.
Standard Chartered in its second quarter results update last month said, “Despite low margins in the recent past (4.9 to 6.6 per cent over FY10-13), we believe Britannia's 9 per cent operating profit margin (9.5 per cent achieved in the second quarter) is sustainable given stable input costs and tight control over operational expenses.”
…
While company watchers have long speculated that Berry’s induction into the company will give Britannia’s bid to transform itself into a well-rounded food company a boost, Berry says that he has no plans to step into new categories or even grow the existing dairy business, which gives Britannia 10 per cent of its revenues.
“Dairy is a Rs 65,000-crore (Rs 650 billion) business. Bakery, comprising biscuits, cakes, rusks and bread, is Rs 30,000 crore (Rs 300 billion) in size. We play in both the segments and are committed to both. For now, however, I am happy keeping the 90:10 revenue split as far as bakery and dairy go. At a later stage, when I think the dairy business can be scaled up, we will certainly look at it,” Berry says.
Instead of going after newer segments, Berry has set the ball rolling to create innovations within the existing categories. A French national, who Berry declines to name, has been hired as the head of R&D and quality control.
…
His task: Create interesting new products for Britannia.
“Ideally, we would like to get at least 6-8 per cent of our revenues per year from innovations. That figure averaged about 4 per cent in recent years, and this year we haven't done any innovation because we wanted to step back before we leapt forward. Both, at the bottom of the pyramid and at the top, you will see a lot of excitement around innovation as we go forward,” Berry says.
Moving on from Parle-G
Nobody denies that Britannia was among the earliest players to recognise the value of premium products. It allows the company to do two things: operate in categories that give it better pricing power and ensure that consumers get better products.
“People want better products. How long will they consume Parle-G and Tiger?” asks Berry, alluding to popular rivals.
…
The company’s products, which are priced 5-15 per cent higher than peers, puts Britannia in a comfortable spot to drive growth of its high-value biscuits, cookies, cakes and dairy items to improve sales.
This strategy has traditionally worked well for Britannia in urban areas and the company now hopes to replicate some of this magic in rural areas through low-unit packs of these products. Berry says that most of Britannia’s biscuit brands are now available at Rs 5, including its popular Good Day and Marie.
At the same time, the company is focusing on improving its distribution footprint in its endeavour to achieve a wider footprint. “We want distribution to grow successfully. For that, the ability to create infrastructure and reach out to more outlets, display our products better ensure that consumers reach out for our products or are seeing our products with our brand name is key,” says Berry.
Britannia's overall retail reach is 3.6 million outlets, marginally higher than rival Parle Products’ 3.3 million outlets. Berry admits that Britannia's distribution network can be better.
…
“Taking manufacturing to centres of consumption is part of this plan,” he explains. “At the same time, however, we need to supplement manufacturing with distribution especially in areas where we remain weak such as the north and west of India."
In fact, markets such as Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Bihar and Uttar Pradesh are top of on the company's priority in terms of improving penetration and reach of its products. "We are underleveraged in markets such as Gujarat where we are merely 40 per cent of our national share. Things can certainly improve there,” Berry says.
A significant proportion of the distribution machinery that Britannia will set up in these markets will be in rural areas.
“In Gujarat, for instance, where snacking happens a lot, our urban-rural split of business is 75:25. On an all-India basis, however, our urban-rural split of business is 60:40. Again, there is room for improvement as far as rural penetration in Gujarat goes,” he says.
…
Street expectations
A combination of strategies from higher-priced products in urban areas to increased distribution as well as a focus on rural areas is expected to help bolster sales in the current fiscal, analysts say.
Sales growth for FY14 is likely to be in the region of 15 per cent, analysts estimate, higher than the 13 per cent the company clocked in FY13, but still lower than the 18 per cent and 24 per cent it saw in FY12 and FY11 respectively.
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https://www.bajajbroking.in/blog/britannia-industries-overview
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Britannia Industries Ltd. An In-Depth Analysis
|
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[
"Bajaj Broking"
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2023-10-13T00:00:00
|
Explore Britannia Industries Ltd., a beloved Indian FMCG brand with a 130-year legacy. Read more in this blog.
|
en
|
/content/dam/bfsl/bfsl__header-footer/bajajbroking-favicon.ico
|
https://www.bajajbroking.in/blog/britannia-industries-overview
|
ATTENTION INVESTORS:
“Investments in securities market are subject to market risk, read all the scheme related documents carefully before investing."
"Prevent Unauthorized transactions in your Trading/Demat Account. Update your mobile numbers/email IDs with your stock brokers/Depository Participant. Receive alerts/information of your transaction/all debit and other important transactions in your Trading/ Demat Account directly from Exchange/CDSL/NSDL at the end of the day. Issued in the interest of investors."
" We collect, retain, and use your contact information for legitimate business purposes only, to contact you and to provide you information & latest updates regarding our products & services."
"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."
"We understand that certain investment advisors may be approaching members of the public including our clients, representing that they are our partners, or representing that their investment advice is based on our research. Please note that we have not engaged any third parties to render any investment advisory services on our behalf nor are we providing any stock recommendations/tips/research report/advisory. Persons making investments on the basis of such advice may lose all or a part of their investments along with the fee paid to such unscrupulous persons. Please be cautious about any phone call that you may receive from persons representing to be such investment advisors, or a part of research firm offering advice on securities. Do not make payments through e-mail links, WhatsApp or SMS. Please do not share your personal or financial information with any person without proper verification. Always trade through a registered broker."
Bajaj Financial Securities Limited is a subsidiary of Bajaj Finance Limited and is a corporate trading and clearing member of Bombay Stock Exchange Ltd. (BSE) and National Stock Exchange of India Ltd. (NSEIL), and also a Depository participant with National Securities Depository Ltd (“NSDL”) and Central Depository Services Ltd. (“CDSL”).
Bajaj Financial Securities Limited is engaged in the business of Stock Broking and as a Depository Participant.Bajaj Financial Securities Limited does not provide any advisory services to its clients. Bajaj Financial Securities Limited may share updates from time to time (through various electronic communication modes) which are sourced from public domain and the same are NOT to be construed as any advice or recommendation from Bajaj Financial Securities Limited. Client is requested to independently evaluate and/or consult their professional advisors before arriving at any conclusion to make any investment. The decision to invest shall be the sole responsibility of the Client and shall not hold Bajaj Financial Securities Limited, its employees and associates responsible for any losses, damages of any type whatsoever.
The Stock Exchange, Mumbai is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc., of any of the Rules, Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force from time to time.
The Stock Exchange, Mumbai is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us.
Personal Loan, Fixed Deposit, EMI Card are provided by Bajaj Finance Limited. Bajaj Financial Securities Limited is only a distributor. These are not exchange traded products and all disputes with respect to the distribution activity, would not have access to exchange investor redressal forum or Arbitration mechanism.
No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.
Please Note:
Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020
Update your mobile number & email ID with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.
Pay 20% upfront margin of the transaction value to trade in cash market segment.
Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 and BSE vide notice no. 20200731-7 dated July 31, 2020 and 20200831-45 dated August 31, 2020 and other guidelines issued from time to time in this regard.
Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month.
Client Registration Documents (Rights & Obligations, Risk Disclosure Document, Do's & Don'ts) in Vernacular Language: BSE | NSE
If the client wishes to revoke /cancel the EDIS mandate placed by them, they can write on email to [email protected] or call on the toll free number.
Advisory for Investors : NSE | BSE
ADVISORY - KYC COMPLIANCE
ADVISORY – PRECAUTIONS FOR CLIENTS DEALING IN OPTIONS
We also do pro-account trading in Equity & Derivatives Segment.
Filling complaints on SCORES - Easy & Quick
A. Register on SCORES portal B. Mandatory details for filling complaints on SCORES (i) Name, PAN, Address, Mobile Number, E-mail ID C. Benefits: (i) Effective Communication (ii) Speedy redressal of the grievances.
SEBI Registration No.: INZ000218931 | BSE Cash/CDS/F&O (Member ID: 6706) | NSE Cash/F&O/CDS (Member ID: 90177) | DP registration No : IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN – 163403 Research Analyst SEBI Registration No. INH000010043
Compliance officer:
Mr. Harinatha Reddy Muthumula, TEL: 1800 833 8888; Email: [email protected] for DP related to [email protected] , for any investor grievances write to [email protected]
DISCLAIMER
STANDARD DISCLAIMER
Investments in the securities market are subject to market risk, read all related documents carefully before investing.
Reg Office: Bajaj Auto Limited Complex, Mumbai –Pune Road Akurdi Pune 411035. Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014. SEBI Registration No.: INZ000218931 | BSE Cash/F&O/CDS (Member ID:6706) | NSE Cash/F&O/CDS (Member ID: 90177) | DP registration No: IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN –163403.
Website: https://www.bajajbroking.in/
RESEARCH DISCLAIMER
Broking services offered by Bajaj Financial Securities Limited | Registered Office: Bajaj Auto Limited Complex , Mumbai –Pune Road Akurdi Pune 411035 | Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014| CIN: U67120PN2010PLC136026| Research Analyst SEBI Registration No: INH000010043.
Details of Compliance Officer: Mr. Harinatha Reddy Muthumula (For Broking/DP/Research)|Email: [email protected]/[email protected] |Contact No.: 020-4857 4486 |
Investment in the securities involves risks, investor should consult his own advisors/consultant to determine the merits and risks of investment.
DISCLOSURES
Disclosures under the provisions of SEBI (Research Analysts) Regulations 2014 (Regulations)
Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities. There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. This research report has been prepared and distributed byBajaj Financial Securities Limited in the capacity of a Research Analyst as per Regulation 22(1) of SEBI (Research Analysts) Regulations 2014 having SEBI Registration No. INH000010043.
DISCLAIMER
This e-mail/ short message service (SMS) may contain confidential, proprietary or legally privileged information. It should not be used by anyone who is not the original intended recipient. If you have erroneously received this message, please delete it immediately and notify the sender. The recipient acknowledges thatBajaj Financial Securities Limited or its holding and/or associated companies, as the case may be, are unable to exercise control or ensure or guarantee the integrity of/over the contents of the information contained in e-mail /SMS transmissions and further acknowledges that any views expressed in this message are those of the individual sender and no binding nature of the message shall be implied or assumed unless the sender does so expressly with due authority of Bajaj Financial Securities Limited. This message is not intended as an offer or publication or solicitation for distribution for subscription of or purchase or sale of any securities or financial instrument(s) to anyone in whose jurisdiction such subscription etc. requires prior local regulatory clearance or is contrary to the local laws of the land in any manner or as an official confirmation of any transaction. Before opening any attachments, please check them for viruses and defects.
This service / information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose unless otherwise expressly authorised. This service / information is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subjectBajaj Financial Securities Limited and affiliates/ group/holding companies to any registration or licensing requirements within such jurisdiction. The distribution of this document in certain jurisdictions may be restricted by law, and persons in whose possession this document comes, should inform themselves about and observe any such restrictions.
The data would be provided to the clients on an "as is" and "where-is" basis, without any warranty. Bajaj Financial Securities Limited or its subsidiaries and associated companies shall not be liable for any delay or any other interruption which may occur in providing the data due to any reason including network (Internet) reasons or snags in the system, breakdown of the system or any other equipment, server breakdown, maintenance shutdown, breakdown of communication services or inability of the Bajaj Financial Securities Limited or its subsidiaries and associated companies to provide the data. In no event shall the Bajaj Financial Securities Limited or its holding and associated companies be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with the data provided by the Bajaj Financial Securities Limited or its holding and associated companies.
ADDITIONAL DISCLAIMER FOR U.S. PERSONS
Bajaj Financial Securities Limited is not a registered broker-dealer under the U.S. Securities Exchange Act of 1934, as amended (the"1934 act") and under applicable state laws in the United States. In addition, Bajaj Financial Securities Limited is not a registered investment adviser under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act" and together with the 1934 Act, the "Acts), and under applicable state laws in the United States. Accordingly, in the absence of specific exemption under the Acts, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for U.S. persons. This email message does not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services and/or shall not be considered as an advertisement tool. "U.S. Persons" are generally defined as a natural person, residing in the United States or any entity organized or incorporated under the laws of the United States. US Citizens living abroad may also be deemed "US Persons" under certain rules.
ADDITIONAL DISCLAIMER FOR CANADIAN PERSONS
Bajaj Financial Securities Limited is not a registered adviser or dealer under applicable Canadian securities laws nor has it obtained an exemption from the adviser and/or dealer registration requirements under such law. Accordingly, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for Canadian persons.
This mailer and its respective contents do not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services.
DISCLAIMER FOR REPORT
DISCLOSURES UNDER THE PROVISIONS OF SEBI (RESEARCH ANALYSTS) REGULATIONS 2014 (REGULATIONS)
Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities.
This Report has been prepared by Bajaj Financial Securities Limited in the capacity of a Research Analyst having SEBI Registration No. INH000010043 and distributed as per SEBI (Research Analysts) Regulations 2014. This report does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information contained herein is from publicly available data or other sources believed to be reliable. This report is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this report should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors.
This information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Bajaj Financial Securities Limited and associates / group companies to any registration or licensing requirements within such jurisdiction. The distribution of this report in certain jurisdictions may be restricted by law, and persons in whose possession this report comes, should observe, any such restrictions. The information given in this report is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. This information is subject to change without any prior notice. Bajaj Financial Securities Limited reserves the right to make modifications and alterations to this statement as may be required from time to time. Bajaj Financial Securities Limited or any of its associates / group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Bajaj Financial Securities Limited is committed to providing independent and transparent recommendation to its clients. Neither Bajaj Financial Securities Limited nor any of its associates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including loss of revenue or lost profits that may arise from or in connection with the use of the information. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. Past performance is not necessarily a guide to future performance .The disclosures of interest statements incorporated in this report are provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. The information provided in these reports remains, unless otherwise stated, the copyright of Bajaj Financial Securities Limited. All layout, design, original artwork, concepts and other Intellectual Properties, remains the property and copyright of Bajaj Financial Securities Limited and may not be used in any form or for any purpose whatsoever by any party without the express written permission of the copyright holders.
We offer our research services to clients as well as our prospects. Though this report is disseminated to all the customers simultaneously, not all customers may receive this report at the same time. We will not treat recipients as customers by virtue of their receiving this report.
Bajaj Financial Securities Limited and its associates, officer, directors, and employees, research analyst (including relatives) worldwide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company(ies), mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company/company(ies) discussed herein or act as advisor or lender/borrower to such company(ies) or have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance. Bajaj Financial Securities Limited may have proprietary long/short position in the above-mentioned scrip(s) and therefore should be considered as interested. The views provided herein are general in nature and do not consider risk appetite or investment objective of any particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with Bajaj Financial Securities Limited.
Bajaj Financial Securities Limited or its associates may have received compensation from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have managed or co-managed public offering of securities for the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report. Research analyst or his/her relative or Bajaj Financial Securities Limited’s associates may have financial interest in the subject company. Bajaj Financial Securities Limited, its associates, research analyst and his/her relative may have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance.
Research analyst has served as an officer, director or employee of subject Company: No
Bajaj Financial Securities Limited has financial interest in the subject companies: No
Bajaj Financial Securities Limited’s Associates may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report.
Research analyst or his/her relative has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No
Bajaj Financial Securities Limited has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No
Subject company may have been client during twelve months preceding the date of distribution of the research report.
There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. A graph of daily closing prices of the securities is also available at https://www.nseindia.com/
ANALYST CERTIFICATION
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MTF
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https://www.forbesindia.com/article/super-50-companies-2015/britannia-industries-the-taste-of-success/40701/1
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Britannia Industries: The Taste Of Success
|
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Britannia Industries's move of bringing on board Varun Berry has proved a winner. In just two years, the FMCG veteran has spearheaded a turnaround
|
en
|
https://www.forbesindia.com/images/forbesicon.ico
|
Forbes India
|
https://www.forbesindia.com/article/super-50-companies-2015/britannia-industries-the-taste-of-success/40701/1
|
In September 2012, the former chief executive officer of PepsiCo Foods India, Varun Berry flew down from Delhi to Mumbai to meet Nusli Wadia. Berry was running a high-grade fever of 104 degrees at the time. He contemplated calling off the meeting, but decided against it. It’s not every day that the chairman of the Wadia Group, which has majority control of fast moving consumer goods (FMCG) company Britannia Industries, invites you to Mumbai.
The meeting, however, was not a cosy tête-à-tête. It was a headhunting foray. Wadia was scouting for someone to set things right at Britannia: The country’s largest listed bakery and dairy manufacturer was losing ground to Mumbai-headquartered Parle Products and the foods division of Indian FMCG behemoth, ITC. Biscuits are bread and butter to Britannia, which has a market cap of $5.1 billion. But despite a formidable portfolio of brands—Good Day, Tiger, Marie Gold, 50 50 and Milk Bikis, among others—it had ceded market dominance to Parle. In FY06, according to industry reports at the time, Britannia had an approximately six percentage point lead over Parle in market share (in value terms). But, Parle had beaten the company in the volumes game with its mass-market glucose biscuit Parle-G. By 2010, the tables had turned with Parle establishing a 6-7 percentage point lead over Britannia in market share in value terms.
Wadia needed someone to help set things right. With experience of over two decades in the FMCG sector, Berry was the perfect candidate to spearhead a revival. (The Wadia Group had gained majority control of Britannia in 2009, after having bought out French firm Danone’s 25 percent stake for an estimated $200 million.)
His interview with Wadia was slotted for 30 minutes at the Bombay Dyeing office in Wadia International Centre, Worli. “Guess for how long it lasted? Almost six hours!” says Berry. The marathon meeting with Wadia had a clear agenda. “He [Wadia] felt the company could do a lot better.”
The meeting was fruitful. Berry joined Britannia Industries in January 2013 to oversee the Bengaluru-based company’s India operations, which accounts for 95 percent of its total revenue. And by April 2014, he had moved from chief operating officer (COO) to managing director. This was inevitable too.
Berry is no lightweight in the FMCG space: He’s the go-to guy who can turn a brand around and is credited with having grown PepsiCo India’s market share in Gujarat by 38 percentage points over 12 months in the 1990s.
His success, however, rests on one caveat: The brand has to have equity. “If there is no brand, I don’t know how to make a turnaround,” he says. Britannia exceeded his requirements in that it had all the right ingredients for the 53-year-old Berry to stage a turnaround. The biscuit maker is known for its big marketing interventions and programmes. At one point, almost half the Indian cricket team’s players used bats that sported the Britannia logo. “I think the overall corporate brand has extremely powerful equity. It is one of the few brands that continues to have an Indian ethos and flavour,” says Raghu B Viswanath, managing director of Vertebrand, a Bengaluru-based brand value advisory and marketing consultancy.
“Britannia has always been a fabulous company,” Berry tells Forbes India. From the moment he came on board, he had one agenda: To turn the 123-year-old company into a lean, mean fighting machine. This was at a time when the overall food and, in particular, biscuit market was witnessing a slowdown. He had to force a legacy company to change gears practically overnight and adopt a startup-like mindset.
Under Berry’s watch, the company has doggedly pursued a strategy to improve its sales and distribution reach, better the overall cost management, increase its in-house production capabilities, infuse operational efficiencies across its supply-chain and scale up its innovation capabilities. It is rare for legacy companies to undertake such radical makeovers, say industry analysts. “It calls for a shake-up in the status quo. A lot of heartburn will, and does, happen,” says Harish Bijoor, brand expert and CEO of Bengaluru-based Harish Bijoor Consults Inc.
Berry’s shake-up yielded results: For nine straight quarters leading up to the quarter ended March 31, 2015, Britannia has grown its operating margins, an indicator of the company’s profitability. Its operating profit margin in Q4 of FY15 stood at 13.95 percent, against 7.6 percent in the same quarter of FY13. Its net profit margin grew over 400 basis points in the two-year period. Besides, in the same period, Britannia posted double-digit revenue growth, in the 11-15 percent range, every quarter. This was despite the fact that growth in the biscuit market had dropped from 8 percent (in August 2013) to 4 percent by December 2014.
The company’s changing fortune has reflected in its stock price as well. As of June 19, Britannia is the fifth most traded stock on the S&P BSE FMCG index. Since Berry joined, the company’s stock has risen over 400 percent.
In two years, the company has also expanded the reach of its direct distribution network from 7 lakh to over 10 lakh retailers. In rural India, it has extended the footprint of its sub-stockists by 40 percent. It has doubled its frontline sales force in cities and semi-urban areas, which has resulted in an incremental sales growth of six percent by the end of FY15. Through best practices, it has shaved off Rs 100 crore from its distribution costs and reduced its power costs by 10-12 percent.
In his 30-year career, Berry says he hasn’t seen a company in the FMCG sector grow its revenue, profit and market share simultaneously for two consecutive financial years.
He is, however, reluctant to talk about market share numbers, and instead draws attention to a May 2015 news report in The Times of India, which suggested that Britannia, with a 28 percent market share, had overtaken Parle with a 0.5 percentage point lead (in value terms) in April. But the same report mentioned that on a yearly basis, Parle continued to be the market leader, in terms of volume and value. The gap that Britannia is now trying to bridge between itself and Parle for market dominance is about three percentage points, a figure Wadia mentioned in the company’s annual general meeting last year.
Industry watchers and analysts have been taking note of Britannia’s revival. In a recent report, HSBC Securities and Capital Market noted that Britannia “was in the second phase of value creation, which should accompany volume growth acceleration, market share gains led by new product launches and increasing depth and breadth of distribution”. The report notes that the changes wrought have helped the biscuit maker double its margins and have resulted in a “substantial jump in return on capital”.
While some analysts argue that Britannia could have done all this and more years ago, others like Bijoor say that it has timed its revival well. “The context today demands aggression. I don’t believe it has come too late.It has come on time,” says Bijoor.
It was also well planned. Within a year of gaining majority control, the Wadia Group had put in place a revival plan. The fact is, Berry’s turnaround strategy has been all the more successful because some of the company’s long-term plans, which the board had instituted before he joined, are now coming into fruition. For instance, initially, two-thirds of Britannia’s production was outsourced to contract manufacturers, but then, five years ago, the company—in a bid to have more control over manufacturing costs and leverage new technologies—began investing in its own manufacturing facilities. Now, the FMCG company is in the process of increasing its capacity by 20,000 tonnes of biscuits per month by the end of March 2017. Over the next 20 months, 58 percent of its manufacturing will be done in-house.
Some of the cost-pruning initiatives on the supply chain side were put in place after an internal programme called Britannia Next (BNext) was set up in 2010. Its objective was to look at how the company could become structurally fit. Vinay Singh Kushwaha, vice president-supply chain, who joined Britannia in 2010 and spearheaded BNext, explains, “We looked at new ways of buying materials. We asked ourselves: How do we distribute differently; how do we set up our plants differently; how do we manage our inventories and distribution? We also looked at how we buy media space.” It took Kushwaha three years to introduce a slew of “new capabilities”.
But these new business strategies needed more capable hands to trump Parle. Enter Berry. The FMCG veteran started putting together a crack team to infuse new life into Britannia. Given the biscuit maker’s low margins and the need to keep costs in check, Berry believed the company would not be able to bear the cost of hiring too many people from other FMCG players. “The best option was to size up people within the organisation and give them bigger responsibilities,” says Berry, who reviewed Britannia’s top 50 managers after diving into the company’s financials.
After nearly two years, he has a 10-member core team comprising functional and business heads who report directly to him. Of these, only three—the head of sales, head of R&D and the chief financial officer—are outside hires. Five of the 10 were promoted from within the ranks. (They were in relatively junior positions, two levels below their current designations). But when it came to getting things done and investing in people, Berry was willing to break from precedent. “There were two areas of difficulty. One was to convince the board that a person, who is two levels below, will be able to perform. The other difficulty was getting them to rise to the job’s demands,” he says.
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https://www.marketing91.com/marketing-strategy-britannia/
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Marketing Strategy of Britannia – Britannia Marketing Strategy
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"hith.b"
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2017-12-15T08:30:27+00:00
|
Marketing Strategy of Britannia explains how it has positioned itself as a brand caring for the consumers & serving healthy and delicious processed foods.
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en
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Marketing91
|
https://www.marketing91.com/marketing-strategy-britannia/
|
The Wadia Enterprise, Britannia Industries Limited is an India Food company founded in 1892 and is manufacturing & selling biscuits, Rusk, cake, bread, and dairy products.
It is among the most trusted brands in India manufacturing daily food brands such as Good Day, Milk Bikis and Marie Gold, Tiger, and NutriChoice. These brands have become a household name in not only urban but rural markets also.
Its dairy business contributes approximately 6 % of the total revenue and it reaches to 100000+ outlets while its bread vertical is largest in the organized bread market with an annual turnover of over 1 lakh tons (in volume) and Rs.450 crores.
Segmentation, targeting, positioning in the Marketing strategy of Britannia –
Segmentation helps in understanding the different group of customers available in the population and what are characteristics associated with each of the group.
Britannia uses a mix of demographic & psychographic segmentation strategy considering the population variables such as age, social class, education level, income level, marital status, and occupation.
To serve the different customer groups accordingly, it uses differentiated targeting strategy.
Britannia has positioned itself as a brand caring for the consumers and serving healthy and delicious processed foods. It uses value-based positioning strategy.
Marketing mix
SWOT analysis
Mission- “To deliver continuous and sustainable financial performance for the company and all its stakeholders”
Vision- “Not Available”
Tagline-“Eat Healthy, Think Better”
Competitive advantage in the Marketing strategy of Britannia –
Strong Product portfolio: With a wide presence in each of the products categories supported by the sub-brands has helped the company in capturing the rural market generating Rs. 1556 Crs in Mar’17 which is 22% jump from the last Financial Year. Britannia Industries operate in the market with more than 300 SKU’s.
Parent Company, Wadia Group: Britannia Industries is a part of the strong parent company Wadia group which have a presence in a large number of business whether it is textile, aviation, Real Estate, plantations, foods, chemicals, electronics and light engineering, or health care. Some of the well-known companies group have are Bombay Dyeing, GO Air, Bombay Burmah etc.
Premiumisation of Products: Although the company has sub-brands in its product portfolio recently it has entered into premium bakery & Dairy products segment in order of being competitive in the market and have a bouquet of products for all segments of the society. Some of their products in the segment delivering delightful innovative products to customers are Good day Wonderfulls, Britannia Treat with Choco & Vanilla flavor.
BCG Matrix in the Marketing strategy of Britannia –
It operates in strategic business units such as bakery and dairy products. Bakery segment consists of products such as Biscuits, Bread, Cakes, and Rusk while Cheese, Milk & Yoghurt Beverages, and Fresh dairy products form part of the Dairy segment.
Both of the SBU’s that the company operates into are Stars in the BCG matrix.
Distribution strategy in the Marketing strategy of Britannia –
Britannia Industries makes its products available to more than 70 countries globally while it has 81+ manufacturing units in India out of which 41 are Biscuit units, 13 dairy units, 12 bread units, 9 Rusk units and 6 cakes units.
Through these manufacturing units, Britannia makes 2.8 Cr packs per day which are distributed to more than 36 lakh outlets through 51 depots, 3700 stockists and 900 trucks per day.
Brand equity in the Marketing strategy of Britannia –
Britannia Industries has been ranked 56th on Forbes magazine list of Innovative growth companies. The brand has been valued at $6 billion as of May 2017 (market capitalization value method) generating revenue of $1.32 billion.
The brand has bagged many award and accolades such as Renewable Energy India Awards 2016 selected Britannia for a special recognition under the Leading RE Investor category, Best Brand Campaign (Britannia Tiger), Big Bang Awards 2013 and many others.
Competitive analysis in the Marketing strategy of Britannia –
Spread across the knith & kin of India, the brand has created high visibility in the market both Rural & urban areas.
The company competes in the market basis on factors such as extensive presence in the market through a distribution network, deep product assortments, and cost-effectiveness per unit, manufacturing facilities near the markets, quality workforce and innovative products. Some of the competitors of the company are AMUL, Hindustan Unilever, Priya Gold, Parle, Kraft Foods, Sunfeast Etc.
Market analysis in the Marketing strategy of Britannia –
The Britannia Company operates in the packaged food industry, in bakery and dairy product categories.
The business in which Britannia operate has a high share of bakery products especially biscuits and bread.
Macroeconomic challenges, political stability, infrastructure growth, increasing number of suppliers, bargaining power of customers as well as suppliers are some of the driving force for the industry.
Customer analysis in the Marketing strategy of Britannia –
Customers of Britannia are people from all age groups who prefer to have snacks and healthy delicacies on day to day basis.
Britannia has been aggressively penetrating in the rural markets through its Small SKU’s (Stock keeping units) and outlet coverage which doubled from 7.3 Lakhs directly reached outlets in Mar.,’14 to 15.5 Lakhs outlet in Mar.,’17.
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dbpedia
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https://www.dairyreporter.com/Article/2022/12/22/bel-group-expands-in-india-through-britannia-industries-jv
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en
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Bel expands in India through Britannia Industries JV
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2022-12-22T00:00:00
|
A new joint venture company will produce, distribute and sell co-branded cheese products as Bel looks to increase its presence in India.
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en
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/bundles/wrbmgbsite/images/favicon/dairyreporter/favicon.ico
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dairyreporter.com
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https://www.dairyreporter.com/Article/2022/12/22/bel-group-expands-in-india-through-britannia-industries-jv
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The Bel Group is set to acquire a 49% stake in a subsidiary owned by India food giant Britannia Industries. The multi-national will take a stake in Britannia Dairy Private Limited, which will become a joint venture company called Britannia Bel Foods Private Limited. The remaining 51% will be held by Britannia.
The new entity will be led by Abhishek Sinha, Britannia’s chief business officer, dairy, which will manufacture, distribute and sell cheese products in the country. The products will be co-branded using the trademarks ‘The Laughing Cow’ and ‘Britannia’.
Cécile Béliot, BEL Group CEO, said: “This strategic partnership with Britannia in India is a new step for Bel Group’s development in Asia, in line with our mission to deliver healthier and more responsible food for all. Thanks to this joint venture, we will accelerate in India, after 4 years of presence in “start-up mode” which had enabled us to confirm the relevance and the potential of our product offers.
“Perspectives in India are strong and very promising in the nascent cheese segment. We are proud to partner with Britannia. They have an emblematic brand in India and a powerful distribution system. By combining their expertise with our iconic brand The Laughing Cow, and our know-how and knowledge of cheese products, this joint venture is well positioned to offer to all Indian consumers, delicious, nutritious and accessible cheese products, and become a leader in the fast-growing Indian cheese market”.
Varun Berry, executive vice-chairman and MD at Britannia Industries, added: “Britannia’s partnership with Bel Group will enable consumers to enjoy international quality cheese products that will now be made in India. As an indigenous Indian Company, we are proud to be an integral part of the Prime Minister’s vision of an Atmanirbhar Bharat as we manufacture the best of delicious, nutritious and accessible products from across the World for the people of India. We will serve delightful cheese experiences to consumers for all times of the day, thereby creating new consumption occasions. This JV will help the milk farmers of Maharashtra gain consistent and greater market access through our yield-optimized, milk collection initiative that has grown significantly over the last three years.
"Cheese is an under-penetrated category and this partnership will help expand the nascent but fast growing cheese category by delivering innovative products and being a leader in fulfilling evolving consumer needs. This JV is also key to Britannia’s vision to be a responsible, total foods company”.
Bel’s growing influence in Asia
With production hubs running in Iran, Egypt, Vietnam and Japan, the Bel Group has moved to strengthened its influence on the Asian market during 2022.
During the summer, the multi-national entered a JV with China’s Shandong Junjun Cheese Co., taking a 70% stake in the cheese producer including access to operate its factory. Bel Group CEO Béliot said at the time that the JV would enable Bel to scale up its production output on the Chinese market and ‘compete for leadership’. A company spokesperson described Shandong as ‘a local player with strong financial, industrial and R&D capabilities’.
According to Statista, China is the largest dairy market on sales revenue, with dairy products expected in the future. Sales of cheese in particular are projected to grow by 11.5% to 2024, according to Statista.
While China offers exciting possibilities for manufacturers looking to tap into a promising market, India has the largest dairy industry globally – and milk production there is growing at a rate of over 6%, faster than the global rate of 2%. Competition among several key players including Mother Dairy, Amul and Dudhsagar Dairy is also robust. Bel’s JV with Britannia – one of the country’s oldest and most well-known brands on the Indian market, with a reach across half of Indian households – could establish the multi-national among those key players.
There are no signs of a slowdown in the Indian cheese market, either – the segment is projected to grow at a rate of more than 8% CAGR between 2022 and 2027, with a volume growth of 6.7% for 2023 alone.
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https://www.sanasecurities.com/britannia-industries-stock-analysis/
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en
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Britannia Industries Stock Analysis
|
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[
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2016-01-27T13:56:14+00:00
|
Price : Rs. 2,640 Britannia Industries (‘ Britannia’ or the ‘ Company’ ) is one of the leading FMCG Company in India, delivering products in over 5 categori
|
en
|
Sana Securities
|
https://www.sanasecurities.com/britannia-industries-stock-analysis/
|
Britannia Industries (‘Britannia’ or the ‘Company’) is one of the leading FMCG Company in India, delivering products in over 5 categories through 3.5 million retail outlets. The primary business segment of the Company –
(i) Bakery products – Biscuit, Bread, Cake and Rusk
(ii) Dairy products – Milk, Butter, Cheese, Ghee, Dahi, Milk-based ready to drink beverages and Dairy Whitener.
Liquidity and Credit Analysis
Britannia’s average current ratio over the last 5 financial years has been 0.96 times which indicates that the Company has been maintaining sufficient cash to meet its short term obligations.
Britannia’s average long term debt to equity ratio over the last 5 financial years has been 0.34 which indicates that the Company is operating with a negligible level of debt.
Britannia’s average interest coverage ratio over the last 5 financial years has been 64.56 times which indicates that the Company has been generating enough for the shareholders after servicing its debt obligations.
The Company has maintained an average dividend yield of 1.17 % over the last 5 financial years.
WHAT’S DRIVING THE STOCK
Strong Position in the Biscuit Category
Britannia enjoys leadership position and strong brand recall in the biscuit category where the Company enjoys 33% market share. The Company currently has seven strong brands in its portfolio, including Tiger (glucose biscuits), Treat (cream biscuits), 50-50 (crackers), Good Day (premium cookies), Marie, Milk Bikis and NutriChoice (premium high-fiber biscuits). The Company derives ~90% of its revenue from the biscuits segment while, 10% of its total sales coming from non-biscuits category and International market.
Focus On Premium Brands to Drive Growth Going Forward
In the urban landscape, Britannia is focusing on premiumisation of their product line. Britannia is also making efforts to add new sub brand and introduce new variants/innovations under existing brands. Britannia launched ‘Heavens’ under the Nutri Choice and ‘Chunkies’ under Good Day brand as premium category of biscuits.
New launches include: NutriChoice Heavens, Good Day Chunkies and Britannia Nut n Raisin Romance Cake. On the back of these premium brands, Britannia witnessed a consolidated top line growth of 13.7% at Rs. 7,858.42 Cr. in FY15. In the coming years, volume growth will improve supported by efficient investment on its brand advertising and promotions.
The Company’s focus towards its premium brands would generate significant returns in the coming time as these brands already have a good image in the market and it would be easy for their variants to attract the customers.
Company Brands Includes
Biscuits Breads Cakes Good Day White Sandwich Breads Bar Cakes Crackers Whole Wheat Breads Chunk Cake NutriChoice Bread Assortment Nut & Raisin Romance Marie Gold Dairy Muffills Tiger Cheese Milk Bikis Fresh Dairy Jim Jam + Treat Ghee Bourbon Rusk Little Hearts Premium Bake Pure Magic Maska Rus Nice Time
Diversification of Product Portfolio
Britannia has increased its non-biscuits portfolio like dairy (butter, Milk and Dahi), bakery and healthy breakfast (Poha, upma and Oats) in an effort to diversify its product line which would also support the top line growth in the coming years.
Distribution Network to Penetrate Rural Markets
Britannia has focused on building a robust distribution system which could increase its products reach in urban and rural market. The Company has also invested heavily in expanding the distribution network and improving the product pipeline. In FY 2015, the Company’s products were available in 10 lakh outlets, as against 7.5 lakh in FY 2014. In the same period, Britannia increased its rural reach by over 8,000 outlets in FY 2015 and is planning to increase the same to 1.5 times over FY 2017.
WHAT’S DRAGGING THE STOCK
The Threat of Patanjali Ayurved
Patanjali Ayurved is the newest entrant in the FMCG sector with over 350 products including biscuits, noodles, juices, toothpaste, shampoo, hair oils, skin cream products etc. Patanjali has made an entry with a bang and has in very quick time crossed Rs. 2000 Cr in revenue. As per a report published by IIFL, Patanjali could report revenue in excess of Rs. 20,000 Cr by FY 2020.
This could certainly have disruptive effect on Britannia and other FMCG companies. Patanjali is on a sales push and is planning to make its products available at 2 Million stores by end of 2016 from the current ~ 200,000 stores (that’s a 10 times growth). Further, Patanjali was found and is headed by the immensely popular yoga guru Baba Ramdev, which gives its products a strong brand recall and great advantage in marketing.
Competitive Environment – Entry of Kraft
The Indian biscuit market is led by a few players like Parle and ITC. However, foreign players like Kraft are planning to expand their presence in the branded biscuit segment in India. On the other hand, regional/local brands have a strong presence in the rural markets of India. Any increase in competition from the new and regional players would deteriorate market share of the company.
Stringent Food Regulations
The U.S. Food and Drug Regulators (USFDA) have recently rejected products of many FMCH companies due to reasons varying from products manufactured in unhygienic conditions to pesticides being above permissible limits. More stringent food safety regulations with stricter policies in terms of quality standards, supervision and sanctions perpetually present an ongoing threat for FMCG companies.
Counterfeit Consumer Goods
According to KPMG Report – Sell Smart, July 2015 – fake consumer goods are growing faster than the overall consumer products market. Counterfeit and smuggled products now account for more than a fifth of the FMCG market in India.
Lack of awareness among consumers and incapability to differentiate between genuine and fake goods act as a major risk for the FMCG companies.
About Author
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dbpedia
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https://www.indianretailer.com/news/britannia-industries-is-well-placed-to-sustain-growth-and-meet-changing-consumer-preferences.n11500
|
en
|
Britannia Industries is Well Placed to Sustain Growth and Meet Changing Consumer Preferences
|
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[] |
[] |
[
"consumer behavior",
"Britannia"
] | null |
[
"Indian Retailer Bureau"
] |
2021-09-07T14:56:28
|
Retail India - According to Britannia, it foresees opportunities to scale up its dairy business by leveraging product innovation and accelerating the growth of value-added products into the segment.
|
en
|
https://indian-retailer.s3.ap-south-1.amazonaws.com/s3fs-public/favicon.ico
|
Indian Retailer
|
https://www.indianretailer.com/news/britannia-industries-is-well-placed-to-sustain-growth-and-meet-changing-consumer-preferences.n11500
|
The pandemic has brought significant shifts in consumer preferences and behaviors, including the growth of online business channels, which are likely to strengthen and present new opportunities for the food business in the future, according to Britannia Industries.
The company is well placed to sustain growth and is confident of addressing the evolving situation with its wide distribution network, intrinsic brand strengths, innovation, and technology capabilities, and cost-efficiency programs, it said in its latest annual report.
"Significant shifts in consumer preferences and behaviors, growth of online business channels, and higher demand for staples and value products are some of the changes brought about by the pandemic. These trends are likely to strengthen and present new opportunities for the food business in the future," the company said.
According to Britannia, it foresees opportunities to scale up its dairy business by leveraging product innovation and accelerating the growth of value-added products into the segment.
The company is going for expansion of distribution for the dairy portfolio, growth of e-commerce and digital subscription platforms, and culinary experimentation at home with categories like cheese due to the lockdown.
In the segment, Britannia sees quality milk procurement and infrastructure improvement, including cold chain, as the primary growth challenges.
"To address these challenges, your company has been continuously investing in farmer connect programs, scaling up milk procurement capabilities, ensuring consistency in quality of raw material, and strengthening cold chain distribution," it said.
While talking about the biscuit segment, Britannia said India continues to provide significant opportunities for growth as the per capita consumption is much lower than that of developed countries.
"High levels of household penetration (above 90 percent) augurs well for an increase in consumption. There is potential to spur consumption growth through innovative, healthy, and premium products," the annual report said.
In the cake segment, Britannia said its immediate strategic priorities are to strengthen and scale up innovation, renovate and make the base cake segment more premium and in new-to-market formats with affordable prices.
"There are opportunities for growth through the launch of innovative products at different price points and expansion in rural markets," said Britannia Industries.
In rusk, Britannia's strategy is to grow by investing in technology, renovate the existing portfolios and expand the category with new varieties at affordable price points.
"These measures are intended to attain segment leadership by understanding consumer preferences and meeting their expectations," it said.
While talking about bread, Britannia said it has continued to grow and strengthen its leadership in the Health Segment with superior and differentiated products like 'atta' pizza, multigrain and cheese garlic bread, etc.
The category is evolving rapidly due to the entry of new players and market consolidation, it added.
"With the entry of significant competitors and signs of consolidation in this space, your company has renewed its focus on further diversification of portfolio, strengthening manufacturing capability, expansion into new markets and e-commerce as well as Brand building through the launch of refreshed packaging and relevant products," it said.
In the international business, Britannia's strategy is to achieve growth and market share by increasing its presence among the Indian diaspora, develop new products to recruit local ethnic clusters, and establish local operations in fast-growing emerging markets like contract manufacturing, acquisitions, joint ventures, etc.
"The export markets in Americas, Asia, and Africa that were developed in previous years shows promising growth potential and the company is focused on mainstream channel expansion and opening more white space markets, in these geographies," it said.
|
||||
1225
|
dbpedia
|
1
| 17 |
https://www.khaleejtimes.com/business/britannia-plans-global-expansion
|
en
|
Britannia plans global expansion
|
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[] |
[] |
[
""
] | null |
[
"Rohma Sadaqat"
] |
2019-02-22T19:12:04+04:00
|
There is no shortage of challenges for a well established company looking to expand across the international stage, but a dedication to consumers and in-de..
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en
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Khaleej Times
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https://www.khaleejtimes.com/business/britannia-plans-global-expansion
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There is no shortage of challenges for a well established company looking to expand across the international stage, but a dedication to consumers and in-depth research on their needs has proven to be a key factor for success, said Varun Berry, managing director of Britannia Industries.
Speaking to Khaleej Times on the sidelines of the Gulfood 2019 exhibition, Berry highlighted the company's plans to evolve into a global total foods company. This will involve a strategic plan to enter one new geography every year for the next few years.
"As a company, we are looking at a very different footprint. We used to be an India-based company, and our focus was on expanding our footprint within India. A couple of years ago, we decided that our vision is to be present in more countries around the world," he explains.
About 11 years back, we made our investment in the Middle East - in Dubai and in Oman. We are happy with where we are at today; but, our objective now is to expand our footprint. Today, we are present in 72 countries, but in most of them, we cater predominantly to the Indian diaspora; we are looking to cater to the local populations as well," he continues.
"Our next stop has been a $9 million factory in Nepal," he added. "After this, we have five more countries that we have shortlisted for our global expansion. These include Bangladesh, Myanmar, Egypt, and Nigeria. We are looking to either set up production facilities in these countries, or we are looking for opportunities for any other form of partnership such as joint ventures, contract packing or technical collaborations. We estimate around $10 million to $12 million for investments in a factory when we set up in these countries. Our vision right now is getting into one new country every year. We have set such a target because if we don't have such targets, then we will keep drifting. This year, we have Nepal; right now, the facility is already working on trial productions, and we expect to start commercial productions in another month," he adds.
Asked if consumers can expect to see the launch of any new brands, he said: "There is definitely a sort of magic in brands that makes them connect with people. We are a 100 year company that has done reasonably well from a brand standpoint, so there won't be any changes there. But, when it comes to products? Certainly, we want to explore ideas for products that will cater to that tastes of the local population. You have to pay very close attention and do your market research, because what is popular in one country might not be that popular in another. Some consumers prefer cracker type biscuits, while others favour a very rich cookie form."
The future, he said, belongs to the sharing economy, and those companies that are very clear abut their own capabilities. A slow and steady approach is usually safer and will work over grand plans that invite lots of risk.
- [email protected]
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https://www.scribd.com/document/102833825/Strategic-Management-Main-Project-on-Britannia
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Strategic Management Main Project On Britannia
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https://imgv2-2-f.scribdassets.com/img/document/102833825/original/e4ca5dafe2/1723291691?v=1
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https://imgv2-2-f.scribdassets.com/img/document/102833825/original/e4ca5dafe2/1723291691?v=1
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"charu"
] | null |
Strategic Management Main Project on Britannia - Free download as PDF File (.pdf), Text File (.txt) or read online for free. Britannia is a major Indian food company established in 1892. It started as a small biscuit company in Kolkata and has grown to be a household name in India. Britannia produces biscuits, snacks, dairy products and has many popular brands. It is part of the Wadia Group and has partnerships with international food companies. Britannia has experienced strong financial growth in recent years with revenues over 20 billion rupees and net profits over 1 billion rupees for 2006-2007.
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https://s-f.scribdassets.com/scribd.ico?f0445a4f2?v=5
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https://www.scribd.com/document/102833825/Strategic-Management-Main-Project-on-Britannia
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https://m.economictimes.com/news/company/corporate-trends/et-500-britannia-adopted-three-pronged-approach-to-overcome-challenges/articleshow/29108635.cms
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en
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ET 500: Britannia adopted three-pronged approach to overcome challenges
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"Britannia",
"ET 500"
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[
"Kiran Kabtta Somvanshi"
] | null |
It leveraged the strong brands through steady investment & invested in building additional capacity to increase in-house manufacturing of premium brands.
|
en
|
https://economictimes.indiatimes.com/icons/etfavicon.ico
|
The Economic Times
|
https://economictimes.indiatimes.com/news/company/corporate-trends/et-500-britannia-adopted-three-pronged-approach-to-overcome-challenges/articleshow/29108635.cms
|
Synopsis
It leveraged the strong brands through steady investment & invested in building additional capacity to increase in-house manufacturing of premium brands.
While the fast-moving consumer goods sector has not had it as bad as others, the last one and half years have nevertheless been challenging. Battling inflation that led to input costs rising and hurt consumer demand, companies have been hard pressed to balance growth in sales and profit. Currency depreciation and uncertain macroeconomic factors further accentuated the volatility. Most companies have witnessed a slowdown in volume growth because of the increase in product prices during this period. However, a few companies have managed to expand volume as well as margins. Bangalore-based Britannia Industries is one of them, reckoned as one of the best performers in the current slump.
Food is a Rs 12.5 lakh crore opportunity in India. Branded foods are growing faster than the overall food and non-food segments, driven by consumers' quest for quality and convenience. Biscuits are the largest category in the branded foods segment, which is valued at Rs 25,000 crore. Despite the economic gloom, the bakery segment is still growing at 12-14 per cent.
Britannia markets diverse brands and packs at various price points across the bakery and dairy portfolio. Its bakery portfolio includes biscuits, bread, cake and rusk with the first being the largest of these categories. Britannia has about a third of the biscuits market in India and a dominant share of other baked categories. In biscuits, it competes with multinationals, large local companies with a nationwide footprint and smaller regional players. In cake, rusk and bread, the company competes mostly with regional brands with Britannia being the only national player. Many new companies, local and international, have entered the dairy segment.
Britannia was an underperformer in the consumer goods sector in 2010-12 with low profitability levels of 4-5 per cent of operating profit margin. High raw material costs narrowed margins while intensifying competition brought pressure on pricing. According to the company's spokesperson, the key challenge was to continue to drive profit expansion amid high food inflation and slower GDP growth while making building up the organisation to ensure future growth.
The company adopted a three-pronged approach to overcome the challenges it faced. It focused on driving innovation by producing new high-margin, value-added product offerings, boosting revenue by introducing differentiated brands with differential pricing and restructuring costs through improving operational efficiencies throughout the value chain.
The company leveraged its strong brands through steady investment, investing in building additional capacity in order to increase in-house manufacturing of premium brands and focusing on complexity reduction with rationalised stock keeping units (SKUs) and work processes that resulted in profitable growth. The company invested in further strengthening its reach in urban and rural markets. It restructured distribution models to gain depth of distribution in urban markets and width of distribution in rural markets.
The result of all these efforts has been seen in the form of enhanced profitability in the last three quarters. From 4-6 per cent in earlier quarters, the company's operating margin rose to 9 per cent in the quarters ended March and June. The strong double-digit growth of 14-16 per cent in net sales was volume driven.
The Street acknowledged the turnaround and the company's stock was rerating on the bourses. It has gained 89 per cent in the last one year against the 19 per cent increase in the ET FMCG Index.
The company expects the overall bakery market to grow 13-15 per cent in the coming year. It has strong drivers that will lead to growth in the long run. Even though biscuits are popular all over in India, consumption is about 1.5 kg per person per year -- very low compared to other developed markets - indicating scope for secular growth. The push for a presence in the high-margin product mix in biscuits is proving to be timely - directly reflecting in improved margin profile.
Besides this, the strategy of stepping up the focus on international operations and newer businesses such as dairy and breakfast meals are also in the right direction - given the fact that the growth rate of biscuits as a category has been slowing. In this scenario, the dairy segment offers a promising opportunity for Britannia -- it's growing fast and provides scope for differentiation.
The dairy segment's net profit more than doubled in FY13 to Rs 35 crore from Rs 15.5 crore in the previous year. The international business, growing at more than 20 per cent in revenue, is also profitable with the company's brands available in more than 30 countries. However, the dairy and international businesses account for just over 10 per cent of revenue, underscoring Britannia's dependence on the bakery segment.
The appointment of a new CEO is expected to further steer the company toward sustaining its new-found growth momentum. Analysts expect revenue to grow at a compounded annual growth rate of 15-20 per cent over the next three years - driven by an improvement in product mix, volume growth, price increases and a rising share of non-biscuit businesses.
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(You can now subscribe to our Economic Times WhatsApp channel)
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...moreless
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https://www.tradeandbusiness.uk/news/government-is-killing-cool-britannia-say-creative-industries
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Government is killing Cool Britannia say creative industries — UK Trade and Business Commission
|
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[
""
] | null |
[
"Best for Britain"
] |
2021-06-24T14:44:34+01:00
|
Representatives of creative and cultural industries have issued indictments of the Government's Brexit policies for the damage they have done to the music, fashion and theatre sectors and to Britain's image abroad.
|
en
|
https://images.squarespace-cdn.com/content/v1/603e6df5fbb8861bf7864b6c/1614706190463-C8PEWW4R3SJNVL5GG1AX/favicon.ico?format=100w
|
UK Trade and Business Commission
|
https://www.tradeandbusiness.uk/news/government-is-killing-cool-britannia-say-creative-industries
|
Representatives of creative and cultural industries have issued indictments of the Government's Brexit policies for the damage they have done to the music, fashion and theatre sectors and to Britain's image abroad.
In a session of the cross-party UK Trade and Business Commission, stinging criticism was offered of the Brexit deal which continues to cause serious difficulties for the sector six months after the end of the Brexit transition period. Specific government departments were also chastised for failing to work with the creative industries to improve the situation and for proposed solutions falling on deaf ears in government.
Since 1st January, musicians have found costly visa applications and customs declarations incompatible with last-minute live gig opportunities and touring across Europe.
Craig Stanley, promoter and tour producer at Marshall Arts Ltd Management, said: “Artists have to travel internationally to develop... the Beatles went to Hamburg to become a band. That’s as true today as it was then..."
"No trucks means no tours... We think there needs to be a cultural exemption. I put that to Lord Frost when I met with him along with David Furnish and Elton John and I was saddened in his rejection of that ask... He would not be drawn on explaining why... As we come out of Covid, tours will not happen. I cannot be more blunt than that,"
Deborah Annetts, Chief Executive of the Incorporated Society of Musicians added: “We are now way less cool than we used to be... Music doesn’t really recognise boundaries and borders perhaps in the same way that Governments do, as creativity can come from anywhere... it's the way the industry works. It's not something that thrives if we don't have collaboration.”
Those in the fashion industry, worth £35 billion to the UK economy and which employs 1 million people, explained how increased red tape has stalled their supply chain and damaged their competitiveness overseas.
John Horner, Managing Director, Models 1 Limited said: “We estimate that in 2019, 10,000 model trips were made to Europe... but like the music industry we are getting clients saying, "No British models because it's too much hassle." Simple as that."
Patrick Grant, Director of bespoke tailors Norton & Sons of Savile Row added that the damage to Britain's reputation abroad due to Government policy has caused further problems: "We are also suffering because the image of Britain as a culturally exciting and culturally liberal place has been tarnished by things like the hostile environment. We are seen now as a less cool country than we were before... that's a pretty significant difficulty."
Testimony from this session of the Commission, alongside substantial written evidence, will be used to make rapid recommendations to the Government so that trade deals can be improved.
The session was co-chaired by Tamara Cincik Founder and CEO of Fashion Roundtable and Dame Rosemary Squire, Executive Chairman of leading live-theatre company, Trafalgar Entertainment.
Tamara Cincik said,
"What we heard today is that the plight of these hugely important sectors are falling on deaf ears in government and it's emerging British talent who are paying the price.
"Not all of these issues require renegotiation with the EU and are in the UK Government’s gift to unilaterally change which would be transformative on issues such as garment workers on the shortage occupation list at least until such time as the T Levels are rolled out and completed.
"We want to work with the Government to fix these problems and we will be taking this evidence to them along with our own recommendations.”
Dame Rosemary Squire added,
“In their agreement with the EU, the Government have ignored the needs of people working in creative and cultural industries.
“Those who earn a living touring and working across borders don’t want to hear more rhetoric or recriminations, they want solutions and today's evidence will help us find some”
Notes to Editors
Best for Britain Press Office
Email: [email protected]
Call: 075 4010 0933
The UK Trade and Business Commission was launched in April to provide independent scrutiny of the UK’s trade deals with Europe and the rest of the world. It brings together eleven MPs from all nine Westminster parties and all four nations of the UK, along with business leaders and expert economists. The Commission is co-convened by Hilary Benn MP and the Chairman of Virgin Group, Peter Norris, and the secretariat is provided by the cross-party, pro-internationalist group Best for Britain.
Those giving live evidence today were:
Deborah Annetts, Chief Executive of the Incorporated Society of Musicians
Simon Chambers, Owner, Storm Model Management
John Horner, Managing Director, Models 1 Limited
Craig Stanley, promoter and tour producer, Marshall Arts Ltd Management
Kash Bennett, Managing Director, National Theatre Touring Productions
Julian Bird, Chief Executive, Society of London Theatre
Paule Constable, Award winning British lighting designer
Patrick Grant, Director of bespoke tailors Norton & Sons of Savile Row.
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https://www.scribd.com/document/492334003/408394423-Britannia-Industry-Analysis
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en
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Britannia Industry Analysis
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https://imgv2-2-f.scribdassets.com/img/document/492334003/original/b14564a590/1723019852?v=1
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[] |
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[
""
] | null |
[
"Aadrika Gopal"
] | null |
408394423 Britannia Industry Analysis - Free download as PDF File (.pdf), Text File (.txt) or read online for free. This document provides an overview of Britannia Industries Limited, an Indian FMCG company known for its biscuits. It discusses the company's history and milestones since it was established in 1892 with an initial investment of Rs. 295. It also outlines Britannia's marketing strategies of focusing on quality, customer satisfaction, and customer relation and retention. The document then analyzes Britannia's SWOT factors, Porter's 5 Forces, and BCG matrix.
|
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https://s-f.scribdassets.com/scribd.ico?f0445a4f2?v=5
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Scribd
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https://www.scribd.com/document/492334003/408394423-Britannia-Industry-Analysis
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https://www.linkedin.com/pulse/case-study-britannia-industries-limited-dr-mayank-ranjan-srivastava-dhntc
|
en
|
Case Study: Britannia Industries Limited
|
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[
""
] | null |
[
"Dr. Mayank Ranjan Srivastava"
] |
2024-06-29T05:57:54+00:00
|
Case Study: Britannia Industries Limited Overview: Britannia Industries Limited, founded in 1892, is one of India's oldest and most well-known food companies, specializing in bakery and dairy products. The company has a diverse portfolio that includes biscuits, breads, cakes, dairy products like che
|
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https://static.licdn.com/aero-v1/sc/h/al2o9zrvru7aqj8e1x2rzsrca
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https://www.linkedin.com/pulse/case-study-britannia-industries-limited-dr-mayank-ranjan-srivastava-dhntc
|
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Select Accept to consent or Reject to decline non-essential cookies for this use. You can update your choices at any time in your settings.
Overview: Britannia Industries Limited, founded in 1892, is one of India's oldest and most well-known food companies, specializing in bakery and dairy products. The company has a diverse portfolio that includes biscuits, breads, cakes, dairy products like cheese and milk, and other snack items. Britannia has a strong presence in both domestic and international markets, with a focus on quality, innovation, and consumer satisfaction.
Founding and Early Years: Established in Kolkata, India, Britannia started as a small biscuit company catering primarily to the British colonial market.
Product Diversification: Over the years, Britannia expanded its product range to include various bakery items and dairy products, responding to changing consumer preferences and market dynamics.
Market Expansion: Britannia has successfully expanded its footprint across India and globally, leveraging its brand equity and distribution network.
Brand Building and Marketing: Britannia invests heavily in brand building through strategic marketing campaigns that emphasize quality, trust, and innovation. The company uses multiple channels to reach consumers effectively.
Product Innovation: Continuous innovation is a cornerstone of Britannia's strategy. The company introduces new products and variants to meet diverse consumer needs, including healthier options and premium offerings.
Operational Excellence: Britannia focuses on operational efficiency and cost management across its manufacturing and supply chain operations to maintain competitiveness and profitability.
Market Leadership: How has Britannia maintained its leadership position in the Indian food industry amidst fierce competition? What are the key factors contributing to its market dominance?
Innovation Strategy: Discuss Britannia's approach to product innovation. How has innovation helped the company capture new market segments and sustain growth?
Global Expansion: What are the opportunities and challenges for Britannia in expanding its presence further in international markets? How should the company prioritize its global expansion efforts?
Supply Chain Management: Evaluate Britannia's supply chain management practices. How can the company improve efficiency and responsiveness to market demands while maintaining product quality?
CSR Impact: Assess the impact of Britannia's CSR initiatives on its brand reputation and consumer perception. How can CSR activities contribute to long-term sustainability and business success?
Conclusion: Britannia Industries Limited exemplifies strategic agility and resilience in navigating challenges and seizing opportunities in the competitive food industry. By focusing on innovation, quality, and consumer-centricity while maintaining a strong commitment to corporate social responsibility, Britannia continues to strengthen its market position and achieve sustainable growth. The company's ability to adapt to changing market dynamics and its proactive approach to addressing consumer preferences will be crucial in shaping its future success.
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https://www.5paisa.com/blog/stock-in-action-britannia
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Stock in Action – BRITANNIA
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[
"https://tradechart.5paisa.com/lightweightCharts/index.html?type=overview&period=1&exchange=nse&exchType=C&range=d&symbol=BRITANNIA&scripCode=547&appName=5Paisa&appVer=5.11.6.0&osName=Android&loginId=0&theme=Light&source=5pWebsite"
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[] |
[
"Britannia Industries Share Price"
] | null |
[
"Tanushree Jaiswal"
] |
2024-05-06T15:31:31+05:30
|
Discover why Britannia's stock is in action. Explore recent developments and market trends impacting Britannia Industries' stock performance.
|
en
|
5paisa
|
https://www.5paisa.com/blog/stock-in-action-britannia
|
BRITANNIA Stock Movement of Day
Why Stock is in BRITANNIA Buzz?
Britannia Industries' shares experienced significant surge of nearly 10% to ₹ 5,199.60, marking its sharpest intra-day rally in past 18 months. This surge was primarily fueled by expectations of improved outlook for company. Additionally, announcement of final dividend for financial year ended March 31, 2024, further boosted investor sentiment.
Shall I Buy BRITANNIA Stock? & Why?
Britannia Industries' robust performance in face of challenging market conditions positions it as attractive investment opportunity. Despite reporting decline in consolidated net profit for March quarter, company's total revenue saw modest increase of 1.14% year-on-year, reaching ₹ 4,069.36 crore. This growth trajectory aligns with market expectations, with brokerages forecasting YoY growth of around 2.4%.
Britannia's strategic pricing actions & intensified investments in brands have enabled company to maintain competitiveness & rebound in market share. company's focus on expanding its distribution network, reaching approximately 27.9 lakh outlets directly, underscores its commitment to market penetration & growth.
Britannia's future prospects, analysts remain bullish on, with CLSA maintaining 'outperform' rating & setting target price of ₹ 5,636 per share, indicating upside potential of more than 18% from previous session's closing price. Similarly, Morgan Stanley & Macquarie have retained their 'overweight' & 'neutral' ratings, respectively, with target prices of ₹ 5,243 & ₹ 4,500 per share.
Britannia Industries' cost efficiency program continues to yield operational savings, ensuring healthy operating margins. company's prudent approach to managing commodity prices & evolving geopolitical landscape further enhances its resilience in market.
Britannia Industries' Financial performances
Analysis & Interpretations
1. Sales Growth
• Company experienced fluctuations in sales over five quarters, with peak in September 2023 at ₹ 4,433 crores & slight dip in March 2024 to ₹ 4,069 crores.
• Despite quarterly variations, overall trend indicates relatively stable sales performance, with company consistently generating revenues above ₹ 4,000 crores.
2. Operating Profit
• Britannia Industries' operating profit fluctuated throughout quarters, reaching its highest point in September 2023 at ₹ 871 crores & declining to ₹ 784 crores in March 2024.
• Despite fluctuations, company maintained healthy operating profits above ₹ 600 crores in all quarters, indicating effective cost management & operational efficiency.
3. Net Profit
• Net profit trend follows similar pattern to operating profit, with fluctuations across quarters.
• Company recorded its highest net profit in December 2023 at ₹ 586 crores, followed by slight decline to ₹ 537 crores in March 2024.
• Despite variations, Britannia Industries consistently delivered strong net profits above ₹ 450 crores, demonstrating resilience & profitability in its operations.
4. Overall Assessment
• Britannia Industries' quarterly results reflect resilient performance despite challenging market conditions.
• Company has demonstrated stability in sales revenue, indicating strong demand for its products.
• Effective cost management measures have supported healthy operating profits, contributing to overall profitability.
• While fluctuations in net profit suggest some volatility, company's ability to maintain profits above ₹ 450 crores signifies its robust financial position.
Moving forward, Britannia Industries may focus on strategies to sustain sales growth, enhance operational efficiency, & mitigate any potential risks to ensure continued profitability & shareholder value.
Britannia's Competition & Outlook
• Competition from regional players is rising, focusing on price & trade margin greasing
• Outlook for margins is stable & focused on aggressive top-line growth
Britannia's Modern Trade Strategies
Britannia's modern trade strategies include countering one plus one promotions & strengthening distribution & brands.
Britannia Strengths
1. Company has reduced debt.
2. Company has good return on equity (ROE) track record: 3 Years ROE 57.8%
3. Company has been maintaining healthy dividend payout of 82.2%
Britannia Weaknesses
1. Stock is trading at 31.2 times its book value
2. Company has delivered poor sales growth of 8.69% over past five years.
Conclusion
In light of these factors, investors seeking exposure to FMCG sector with focus on stable growth & dividend income may consider Britannia Industries as compelling addition to their portfolio. However, as with any investment decision, it is essential to conduct thorough research, assess risk tolerance, & consult with financial advisors before making purchase.
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https://safety4sea.com/britannia-9-key-steps-to-mitigate-esg-related-risk-exposure/
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Britannia: 9 key steps to mitigate ESG-related risk exposure
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] |
2023-10-19T09:11:33+00:00
|
In its most recent report, the Britannia Group demonstrates how it is making ESG central to its culture and risk management.
|
en
|
SAFETY4SEA
|
https://safety4sea.com/britannia-9-key-steps-to-mitigate-esg-related-risk-exposure/
|
According to the report, the double materiality assessment lays the foundation for the Britannia group’s strategic focus on sustainability. The following areas have been identified as key contributors to mitigate any ESG-related risk exposure to their business or our business’ impact on wider society:
#1 Risk management
They assess the potential environmental, social, and governance risks that may arise in the future. By conducting thorough due diligence, the Club ensures they are well-prepared to address these risks and develop appropriate strategies for risk mitigation. Additionally, they prioritize proactive planning to stay ahead of any emerging ESG challenges that could impact their operations or stakeholders.
#2 Underwriting
Where possible and appropriate, they factor in increased ESG risks and opportunities into their underwriting process.
#3 Digitalisation
Furthermore, through digitalisation, they continuously optimise work streams to support and promote a sustainable working environment.
#4 Investments
They evaluate the fund managers’ adherence ESG principles, ensuring that they align with Britannia’s sustainability goals.
#5 Facilities
They also incorporate sustainability into their office premises.
#6 Emissions
Britannia monitors their scope 1 (direct emissions from sources owned or controlled by the entity), 2 ( indirect emissions from electricity, steam, heat, or cooling consumed by the entity) and 3 emissions (all indirect emissions from sources not owned or controlled by the entity).
#7 Corporate social responsibility
They invest in both local communities and global organisations through donations and sponsorships.
#8 Personnel
This policy ensures that all employees are treated fairly and equally, regardless of their race, gender, or any other characteristic. By investing in the development of their staff, they provide them with opportunities for growth and advancement within the company.
#9 Awareness
Finally, they support the industry in understanding ESG risks and help to develop a strategic focus on sustainability.
The success of our sustainability strategy ultimately relies on the support and buy-in of our employees and I am delighted to see that our staff around the world are continuing to contribute to a sustainable future for the Britannia Group, the industry and society more widely
… said Andrew Cutler, CEO, The Britannia Group
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https://www.scribd.com/document/102833825/Strategic-Management-Main-Project-on-Britannia
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Strategic Management Main Project On Britannia
|
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[
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Strategic Management Main Project on Britannia - Free download as PDF File (.pdf), Text File (.txt) or read online for free. Britannia is a major Indian food company established in 1892. It started as a small biscuit company in Kolkata and has grown to be a household name in India. Britannia produces biscuits, snacks, dairy products and has many popular brands. It is part of the Wadia Group and has partnerships with international food companies. Britannia has experienced strong financial growth in recent years with revenues over 20 billion rupees and net profits over 1 billion rupees for 2006-2007.
|
en
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https://s-f.scribdassets.com/scribd.ico?f0445a4f2?v=5
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Scribd
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https://www.scribd.com/document/102833825/Strategic-Management-Main-Project-on-Britannia
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1225
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https://www.tijorifinance.com/company/britannia-industries-limited/
|
en
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Britannia Industries Ltd.
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Research data on Britannia Industries Ltd. such as Market Share, Product, Geography & Annual Report Summary. Other metrics include ARPU,Subscribers,Voice,Data,GRM,Ref
|
en
|
/static/images/favicon.ico
| null |
Started in 1892, Britannia Industries is a leading food products company based in Kolkata. They specialize in bakery, dairy, and snacking products under popular brands like Good Day and NutriChoice.
Britannia Inds major competitors are Nestle, ITC, Godrej Consumer Prod, Dabur India, Varun Beverages, P&G Hygiene, Jyothy Labs.
Market Cap of Britannia Inds is ₹1,38,334 Crs.
While the median market cap of its peers are ₹1,49,752 Crs.
|
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| 41 |
https://www.coursehero.com/file/77635772/ASSIGNMENT-1-GROUP-Gpdf/
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[
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1225
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| 23 |
https://www.scribd.com/document/456357111/akshay
|
en
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1.1 Overview of Industry As A Whole
|
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akshay - Free download as Word Doc (.doc), PDF File (.pdf), Text File (.txt) or read online for free. Britannia Industries Ltd is India's leading food company known for its biscuits, breads, and dairy products. It has a wide range of popular brands like Tiger, Good Day, and Milk Bikis that have become household names in India. Britannia focuses on offering nutritious and fun foods to consumers across various price points. It has grown significantly over the last decade by introducing new products, expanding its brand portfolio, and leveraging strong distribution networks. Britannia aims to continuously meet the evolving needs of Indian consumers.
|
en
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https://s-f.scribdassets.com/scribd.ico?f0445a4f2?v=5
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Scribd
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https://www.scribd.com/document/456357111/akshay
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1.1 Overview of Industry As A Whole
|
||
1225
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dbpedia
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3
| 74 |
https://finbox.com/NSEI:BRITANNIA/explorer/total_rev/
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en
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The Complete Toolbox For Investors
|
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https://finbox.com/assets/favicon.ico?621d5c7d71ae97985e04
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https://www.globaldata.com/store/report/britannia-field-uk-profile-innovation-and-trend-analysis/
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Britannia Field, United Kingdom
|
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https://www.globaldata.com/store/wp-content/themes/html5blank/assets/img/icon/favicon.ico
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Market Research Reports & Consulting | GlobalData UK Ltd.
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https://www.globaldata.com/store/report/britannia-field-uk-profile-innovation-and-trend-analysis/
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“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.
GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”
Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.
Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.
I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.
I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.
“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.
Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”
GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise. The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.
I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.
One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.
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1225
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dbpedia
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3
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https://www.icra.in/Rating/GetRationalReportFilePdf%3Fid%3D127262
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en
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ICRA Limited
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[
"ICRA Limited"
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ICRA rates debt instruments issued by corporate entities, commercial banks, non-banking finance companies, financial institutions, public sector undertakings and municipalities, among others. ICRA enjoys a strong market acceptance with issuers, intermediaries, lenders and investors by virtue of a long and consistent track record of formidable performance across multiple dimensions.
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Website under maintenance
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1225
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dbpedia
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2
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https://leadiq.com/c/britannia-industries-limited/5a1d95da2300005e008481dd
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en
|
Britannia Industries Limited Company Overview, Contact Details & Competitors
|
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[] | null |
Learn more about Britannia Industries Limited's company details, contact information, competitors, and more. Find accurate contact data easily with LeadIQ. Book a demo today.
|
en
| null |
Britannia Industries Limited
ManufacturingKarnataka, India1001-5000 Employees
Britannia is a 100 year+ organization with presence in Biscuits, Breads, Cake, Rusk, Dairy and snacking. The company celebrated its 100th year in 2018 and has emerged as a Market Leader in the Biscuit space, while also launching a host of new products and entering new categories, inching closer to the vision of being a Global Total Foods Company. We are one of the best employers in India as per the Aon Best Employers Study, 2019 and Kincentric Best Employer Study, 2020 while holding the position as Brand Equity's most trusted food brand, 2019. Our Employer Brand is âMAKE Ti)NGS HAPPENâ, with the intent of bringing alive the new corporate brand âExciting Goodnessâ into the lives of Britannians because it is the Britannians who have been making things happen through the 100 year journey. The corporate values of Britannia are: 1. INVITi)NG, Come home to Britannia 2. IGNITi)NG, Fuel the Hunger 3. CREATi)NG, Build enriching careers 4. RESPECTi)NG, Do the right Ting Together these 4 Tings sum up the culture at Britannia and guide Britannians to make âtingsâ happen all across. The work environment exudes warm professionalism and is accepting of diverse ideas and thoughts while empowering employees as owners. Britannians have always prided themselves in the quality of work, width of role that one gets to handle at an early stage. Employees talk about the âEnriched Learningâ that they get on the job at Britannia and the scope to move internally as potential is valued and bet on. Employees are encouraged to do more with less and strive for excellence in their jobs. Britannia is also a socially responsible organization with a strong sustainability agenda to address malnutrition in marginalized communities of the country and provides platforms to employees to add purpose to their contribution. So, everyday, every minute while Britannians are at work, they MAKE Ti)NGS HAPPEN ! Follow us / Join us and witness this momentous experience called Britannia !
|
||||||
1225
|
dbpedia
|
0
| 56 |
https://www.worldbenchmarkingalliance.org/publication/food-agriculture/companies/wadia-group-bombay-burmah-britannia-industries-2
|
en
|
Assessing the worldâs 350 most influential food and agriculture companies
|
[
"https://assets.worldbenchmarkingalliance.org/app/uploads/2021/04/Food-woman-buying-products-at-the-supermarket-960x400.jpg"
] |
[] |
[] |
[
""
] | null |
[
"GRRR.nl"
] |
2020-06-10T12:04:35+00:00
|
We assessed food companies on their environmental, social and nutritional impact. Who are the leaders? Who are the laggards?
|
en
|
World Benchmarking Alliance
|
https://www.worldbenchmarkingalliance.org/publication/food-agriculture/
|
Sustainable development strategy
The company does not disclose a sustainable development strategy that includes sustainable development objectives and targets, nor an identification and prioritisation process to determine the topics where it has the most impact.
Governance and accountability for sustainable development strategy
The company does not disclose the governance structure for the implementation of its sustainable development strategy or targets, such as the person, team or committee that holds ultimate responsibility for its implementation.
Stakeholder engagement
The company does not disclose stakeholder engagement activities, including how it selects the stakeholders, nor an overview of the topics discussed or their outcomes.
Scope 1, 2 and 3 greenhouse gas emissions
The company does not disclose quantitative evidence to demonstrate that it is reducing its scope 1 and 2 GHG emissions.
Protein diversification
The company does not disclose that it is diversifying its protein portfolio, for instance, by increasing the proportion of plant-based proteins
Fertiliser and pesticide use
The company does not disclose that it is adopting sustainable production practices that optimise the use of fertilisers and pesticides.
Water use
The company does not disclose that it is reducing water withdrawals across its operations and supply chain.
Food loss and waste
The company does not disclose that it is addressing food loss and waste in its own operations. The company has an opportunity to disclose a commitment by demonstrating policies and/or activities that tackle food loss and waste.
Animal welfare
The company does not disclose that it is addressing key animal and aquatic welfare issues for its relevant key species in its own operations and supply chain. It has an opportunity to disclose a commitment that addresses key issues for animal and aquatic welfare across its relevant species, geographies and products.
Availability of healthy foods
The company does not provide evidence of improving the nutritional quality of its products and of proportionally increasing the sales of healthy and nutritious foods.
Accessibility and affordability of healthy foods
The company does not disclose a commitment and activities to improve the accessibility and affordability of healthy foods for vulnerable groups.
Clear and transparent labelling
While the subsidiary Britannia Industries commits to provide nutrition information through back-of-pack labelling, no such commitment was found at the group level.
Accessibility and affordability of healthy foods
While the subsidiary Britannia Industries discloses a marketing communications policy which outlines its approach including to children under 12 years old, no disclosure was found at the group.
Food safety
While the company discloses evidence that some sites of its own operations through Britannia Industries are certified to the ISO 22000 standard, it does not demonstrate that all its own operations are certified to a Global Food Safety Initiative (GFSI)-recognised food safety scheme programme or other widely recognised certification.
Child and forced labour
The company does not disclose a commitment to prohibit child and forced labour in its operations and supply chain
.Living wage
The company does not disclose that it pays its workers a living wage or requires its suppliers to do the same. Neither has it set targets to do so in the future.
Health and safety of vulnerable groups
The company does not specifically recognise the health and safety risks to vulnerable groups, such as migrant and temporary labourers, women, and young farmers.
Farmer productivity and resilience
The company does not disclose a commitment or examples of activities to support the resilience, productivity and access to markets for farmers and small-scale producers in its supply chain.
Land rights
The company does not commit to recognising and respecting the legitimate tenure rights related to the ownership and use of land of local communities.
|
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