Vinita Bali to lead global ops, new business growth; COO Berry to head India operations.
With this joint venture, the company is looking to take complete control of the entire process - from collection of fresh milk to processing and then to introduction of value-added products such as cheese deserts, cheese rolls and lollypops.
Britannia, which is celebrating its centenary year in 2018, will first look at expanding its dairy and bakery businesses, before turning its attention towards new food categories. The attempt is to become a total foods company, as it eyes a well-rounded presence in the market.
Britannia Industries, the maker of Tiger biscuits, said it will take "right and appropriate action as it always has" against the lawsuit filed by US-based Kraft Foods for alleged trademark and copyright violation of its Oreo cookie brand.
The Karnataka High Court has refused to grant a stay on an appeal against City Civil Court's order of April 8 directing the trustees and Britannia Industries to pay the outstanding pension dues as per fund rules to the petitioners within the next two months.
Britannia Industries on Wednesday announced a change in its board with the appointment of Vinita Bali as its managing director and K K Dadiseth as the additional director.
'Only 20 per cent of families in India buy cheese twice once a year.'
With an aim to increase its exports business, biscuit maker Britannia Industries is betting big on new international markets.
Britannia Industries Ltd has decided to appoint CC Chokshi & Company to examine all relevant papers and material and submit a report to the company's board.
FMCG major Britannia Industries' results for the January-March quarter (Q4) of the financial year 2023-24 (FY24) were received enthusiastically by the market with the share going up by 6.7 per cent on Monday to close at Rs 5,061.60 on the BSE. However, analysts said the results were in line with margins, and disappointing in terms of revenue growth. The consolidated net sales (excluding other operating income) rose 3 per cent year-on-year (Y-o-Y) to Rs 4,010 crore in Q4.
Britannia Industries Ltd managing director Sunil Alagh will not seek extension of his current tenure, which expires in February next year.\n\n\n\n
The company, which logged 19 per cent growth in top line at Rs 5,400 crore (Rs 54 billion), derives around Rs 250 crore (Rs 2.5 billion) from global operations and is looking at all vectors to expand its presence overseas.
Dispute over competing investments may carry on.
Britannia Industries Ltd on Saturday reported a 6.77 per cent increase in its net profit to Rs 26.8 crore for the third quarter as against Rs 25.1 crore in the corresponding quarter last fiscal.
Besides launching 50 products with a refreshed logo, Britannia to issue bonus debentures of Rs 720 crore
Company to focus on manufacturing & distribution.
Over the past year, the National Stock Exchange Nifty FMCG Index, which tracks the market capitalisation of the top 15 companies in the fast-moving consumer goods (FMCG) sector, has surged by 17.3 per cent. In contrast, the Nifty50, a broader market index, has witnessed an 8.8 per cent increase during the same period. The FMCG stocks have also been rally leaders in the current calendar year.
Britannia Industries, the bakery and dairy major, has tied up with e-tailer Amazon India for a pilot launch of Good Day Chunkies, a new chocolate chip cookie, for 15 days. The offer is currently on and closes on December 5, after which the product goes to offline (normal retail) stores.
The proposed reforms in goods and services tax (GST) announced by the government last week, coupled with the eighth pay commission dole-out, is likely to push consumption-driven stocks - such as air conditioners (ACs), select automobiles, fast-moving consumer goods (FMCG), retail, and counters of quick-service restaurants (QSRs) - into higher orbit over the next few months, believe analysts.
Big, listed FMCG (fast-moving consumer goods) companies such as Hindustan Unilever, ITC, Nestl, and Britannia have been top-performing stocks on the bourses in recent weeks. The Nifty FMCG index, which tracks the share prices of the country's top 15 listed FMCG companies, is up 1.9 per cent month-to-date in May compared to a 2.4 per cent decline in the benchmark Nifty 50 in the period.
But their reign has been tumultuous as the company has seen compelling battles for ownership.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
'Due to rural stress, volumes continue to remain an issue for the industry, and we are yet to see any revival in demand.'
The Adani family, led by Chairman Gautam Adani, is the most valued first-generation family business at Rs 15.44 trillion.
The changes will take effect on March 28, with portfolio adjustments expected before the market closes on March 27.
The growing mismatch between Go First's losses and other group companies' profits was making it tough for the group to fund the losses of the airline venture.
The move will result in Britannia and Wadia BSN, being dismantled.
'The Nifty index looks to be 20 per cent overvalued as per our model after moving up more than 10 per cent in the last two months.'
Britannia's foreign presence is low; share of global operations to total revenues is just 5-8%.
Framing the next chapter in Swiggy's journey as a responsible corporate citizen, co-founder and chief executive officer (CEO) Sriharsha Majety unveiled the company's eagerly awaited public listing. Majety, who has largely shunned the spotlight, shared reflections on his entrepreneurial path and the strategic pivots he and his co-founders navigated in building Swiggy. "We started with code aggregation, then pivoted to logistics, and that became Swiggy.
The Nutribic biscuit, first launched in August, found itself in the eye of a storm, owing to copyright and trademark infringement issues.
It may be a little early to cheer the recovery in the fast-moving consumer goods (FMCG) space as a deceleration in discretionary demand, after the festival season, may offset fragile rural recovery, analysts have cautioned. "The overall demand environment for staples remains muted, while discretionary demand trends have seen some deceleration after the festival season. "We believe margins in staples have bottomed out, but we expect only a gradual uptick with the ongoing softening in raw material prices.
Fast-moving consumer goods (FMCG) companies anticipate sustained volume pressures in the January-March quarter (Q4) coupled with sluggish rural growth during the period. Brokerages estimate top-line growth to be in low single digits in the quarter. Also, the late onset of winter had an impact on demand for winter products which range from moisturisers to hot beverages.
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Gujarat's Amul bagged the top slot with 7.2 per cent share, followed by Mother Dairy and Britannia Industries.
The slowdown in private consumption in the economy is taking a toll on the growth of fast-moving consumer goods (FMCG). The net sales growth of listed FMCG companies hit a 14-quarter low of 2.5 per cent in October-December 2023 (Q3FY24). This is the lowest revenue growth for the industry since the June 2020 quarter, when the FMCG firms in the Business Standard sample had reported a 13.2 per cent Y-o-Y decline in combined net sales owing to the lockdown.
In India, Danone holds a 25.5 per cent stake in market leader Britannia Industries through holding company Associated Biscuits International Holdings.
French firm in talks with Wadias over future relationship.
