Early Signs of Demand Recovery

Britannia Industries' managing director, Varun Berry, highlights early signs of demand recovery, expecting this momentum to continue into the financial year ending March 2026. "We have seen gradual recovery and I do think that this trend is going to continue into the next year as well," Berry shared during the Q4 earnings call.

Financial Performance Overview

For the financial year ended March 2025, Britannia reported a consolidated net profit of Rs 2,177.86 crore, marking a 2% increase from the previous year. Consolidated sales rose about 6% to Rs 17,535.02 crore. The March quarter alone saw a net profit of Rs 559.13 crore, up 4% year-on-year, with revenue increasing 9% to Rs 4,432.19 crore.

Cost-Saving Achievements

Berry emphasized the success of their cost-saving program, which delivered a return of 9x on the base year of FY14. "We went into overdrive because inflation had become high… we achieved more than what we had set out to do," he added.

Navigating Inflation and Market Challenges

Facing steep inflation in key raw materials, Britannia remains cautious about potential price cuts from smaller rivals but sees unlikely immediate threats. Adjacent categories like cakes, croissants, and cheese are emerging as significant growth drivers.

Future Growth Strategies

With quick commerce currently accounting for 4% of sales and expected to grow to 8% in three years, Britannia is focusing on expanding its premium portfolio and evaluating inorganic opportunities, always with a focus on return metrics.