Britannia records 15% growth in consolidated sales

The board of directors recommended a dividend of Rs 56.5/share.

Varun Berry, managing director, Britannia Industries, said: “In this quarter, we delivered a robust top-line growth of 15% and a mid-single digit volume growth which demonstrates the resilience of our brands and a reflection of our execution strengths across divisions and channels. We continued to accelerate our rural journey with focus on enhancing reach and sustaining our diligent market practices, which is evident in the consistent market share gains over the years. Our growth in organised trade channels remained robust, wherein revenues from eCommerce doubled over last year.”

During the quarter, the company also launched new to market innovations, such Good Day Harmony, Jeera Marie and Nutrichoice Seeds & Herbs and new variants in Croissant & Wafers to further strengthen the adjacent categories.

Berry said the company has progressed well in its journey of building technologically superior factories. In this context, Britannia’s new Dairy greenfield factory is on track for commercialisation in the next few months. In addition, the company is also in the process of setting up three greenfield units, in Uttar Pradesh, Tamil Nadu and Bihar.

He said the economy was impacted by global geo-political factors, which caused further surge in inflation this quarter. “We continued to take price increases judiciously and remained aggressive on the cost front. In these challenging circumstances, our operating profits for the quarter grew by 10% and over a 24-month period, by 23%. We shall further take calibrated price increases and drive cost leadership to manage profitability,” he added.

Berry added that Britannia believes in sustainable profitable growth, and has made rapid strides towards this goal. The company was recognised among the top 40 of India’s most sustainable companies by Business World. 

“We are committed towards our pillars of ESG framework — people, growth, governance and resources and are confident of delivering on the targets that we have set for ourselves,” he concluded.