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Britannia Industries shares gain on Q3 earnings; here's what brokerages say

Britannia Industries shares gain on Q3 earnings; here's what brokerages say

Britannia Industries stock opened higher at Rs 5024.85 on BSE. The stock has gained 4.88% this year and risen 9.15% in two years.

Aseem Thapliyal
Aseem Thapliyal
  • Updated Feb 7, 2025 2:44 PM IST
Britannia Industries shares gain on Q3 earnings; here's what brokerages say Britannia reported a 4.5% rise in December 2024 quarter consolidated net profit to Rs 582 crore

Shares of Britannia Industries Ltd gained over 2% in early deals on Friday after the fast-moving consumer goods (FMCG) firm reported its Q3 earnings. Britannia stock climbed 2.41% to Rs 5078.80 against the previous close of Rs 4958.95 on BSE. Market cap of the firm rose to Rs 1.21 lakh crore. Earlier, the stock opened higher at Rs 5024.85 on BSE. The stock has gained 4.88% this year and risen 9.15% in two years. In five years, the Britannia stock has risen 54.55%. 

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Total 5603 shares of the firm changed hands amounting to a turnover of Rs 2.82 crore on BSE today. Market cap of the firm rose to Rs 1.21 lakh crore. Britannia stock hit a 52-week low of Rs 4643.30 on April 19, 2024 and a 52-week high of Rs 6473.10 on October 3, 2024.  

In terms of technicals, the relative strength index (RSI) of the stock stands at 47.8, signaling it's trading neither in the overbought and nor in the oversold zone. Britannia shares have a beta of 0.3, indicating very low volatility in a year. 

Goldman Sachs has maintained a neutral call with a price target of Rs 5,120. The headline EBITDA beat was driven by one-off sharp fall in staff cost, said the global brokerage adding that a sharp decline in gross margins due to spike in input costs. Revenue and volume growth were steady. 

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However, global brokerage CLSA said it maintains outperform call on the stock with a target price of Rs 5,891. The firm Q3FY25 sales beat expectations and higher input costs were offset by lower salary costs. However, there was a big gross margin miss due to lower-than-expected employee costs. There was high commodity inflation seen in wheat and palm oil, said the brokerage adding that adjacent businesses including dairy drinks, croissants, and wafers grew in double digits. 

Britannia reported a 4.5% rise in December 2024 quarter consolidated net profit to Rs 582 crore against Rs 556 crore posted in the year-ago period.

The FMCG firm's revenue from core operations climbed 6.4 per cent to Rs 4,463 crore in Q3 compared to Rs 4,191.83 crore in the same quarter a year ago. Total expenses in Q3 rose 9 per cent to Rs 3,875 crore due to a rise in the cost of materials consumed to manufacture the products, compared to Rs 3,544 crore in the same period a year ago.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Feb 7, 2025 9:52 AM IST
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