Financials Britannia Industries Limited

Equities

BRITANNIA

INE216A01030

Food Processing

Market Closed - NSE India S.E. Other stock markets 12:40:29 13/09/2024 BST			5-day change	1st Jan Change
6,133.10 ^INR	+0.39%		+4.96%	+14.89%

09-09	Britannia Industries Plans INR3 Billion Investment for Ranjangaon, India Unit Expansion	MT
09-06	Britannia Industries Limited Receives Approval for Expansion of Capacity At Its Plant Located At Ranjangaon, Maharashtra	CI

Projected Income Statement: Britannia Industries Limited

Fiscal Period: Maart	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	115,996	131,361	141,363	163,006	167,693	183,113	202,853	224,494
Change	-	13.25%	7.61%	15.31%	2.88%	9.2%	10.78%	10.67%
EBITDA ¹	18,432	25,093	22,015	28,309	31,698	34,682	38,961	43,710
Change	-	36.14%	-12.27%	28.59%	11.97%	9.41%	12.34%	12.19%
EBIT ¹	16,584	23,114	20,010	26,050	28,694	31,636	35,694	40,163
Change	-	39.38%	-13.43%	30.19%	10.15%	10.25%	12.83%	12.52%
Interest Paid ¹	-769	-1,109	-1,443	-1,691	-1,640	-1,276	-1,097	-891.1
Earnings before Tax (EBT) ¹	18,443	25,136	20,783	30,274	29,167	32,477	36,994	42,223
Change	-	36.29%	-17.32%	45.66%	-3.66%	11.35%	13.91%	14.14%
Net income ¹	14,026	18,639	15,248	23,218	21,398	24,046	27,353	31,145
Change	-	32.89%	-18.19%	52.27%	-7.84%	12.38%	13.75%	13.86%
Announcement Date	02/06/20	27/04/21	02/05/22	05/05/23	03/05/24	-	-	-

¹INR in Million

Estimates

Fiscal Period: March	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1
Net sales ¹	27,004	30,488	29,827	28,677	34,207	34,191	31,656	31,308	34,035	36,074	35,750	35,504	37,010	43,796	41,968	40,232	40,107	44,329	42,563	40,694	42,503	47,740	46,638	44,983	46,753
Change	-	12.91%	-2.17%	-3.85%	19.28%	-0.05%	-7.41%	-1.1%	8.71%	5.99%	-0.9%	-0.69%	4.24%	18.34%	-4.17%	-4.14%	-0.31%	10.53%	-3.98%	-4.39%	4.45%	13.72%	-2.31%	-3.55%	3.94%
EBITDA ¹	3,947	4,922	5,023	4,543	7,169	6,754	6,115	5,054	5,538	5,583	5,397	5,497	5,007	7,117	8,176	8,009	6,889	8,724	8,211	7,874	7,537	9,494	8,982	8,748	-
Change	-	24.71%	2.06%	-9.57%	57.82%	-5.79%	-9.46%	-17.36%	9.57%	0.82%	-3.33%	1.85%	-8.9%	42.13%	14.88%	-2.04%	-13.99%	26.64%	-5.88%	-4.1%	-4.29%	21.6%	-5.4%	-2.6%	-100%
EBIT ¹	3,499	4,473	4,556	4,058	6,690	6,269	5,629	4,526	5,047	5,082	4,893	4,988	4,496	6,600	7,596	7,356	6,181	8,007	7,430	7,075	6,797	8,613	8,087	7,699	7,477
Change	-	27.86%	1.86%	-10.94%	64.85%	-6.29%	-10.2%	-19.61%	11.52%	0.69%	-3.71%	1.92%	-9.85%	46.8%	15.09%	-3.17%	-15.97%	29.54%	-7.21%	-4.78%	-3.93%	20.15%	-6.11%	-4.79%	-2.89%
Charge d'intérêts ¹	-101	-161.4	-236.7	-269.9	-256.1	-298.1	-317.9	-236.9	-342.1	-389.5	-373.8	-337.5	-419.7	-541.4	-381.3	-348.6	-530.5	-534.2	-310.9	-264.4	-289.5	-295.5	-308	-324	-
Earnings before Tax (EBT) ¹	-	4,982	4,972	4,573	7,370	6,702	6,137	4,926	5,312	5,228	5,054	5,189	4,632	6,592	11,478	7,571	6,220	7,986	7,582	7,384	6,818	-	8,516	8,229	-
Change	-	-	-0.22%	-8.02%	61.18%	-9.07%	-8.43%	-19.73%	7.82%	-1.57%	-3.34%	2.67%	-10.74%	42.33%	74.13%	-34.04%	-17.84%	28.4%	-5.06%	-2.61%	-7.67%	-100%	-	-3.37%	-100%
Net income ¹	2,510	4,042	3,726	3,748	5,457	4,981	4,558	3,643	3,896	3,842	3,712	3,799	3,374	4,933	9,324	5,587	4,576	5,876	5,564	5,383	5,056	-	6,369	6,155	-
Change	-	61.02%	-7.82%	0.57%	45.62%	-8.72%	-8.51%	-20.06%	6.93%	-1.37%	-3.39%	2.34%	-11.17%	46.18%	89.02%	-40.08%	-18.1%	28.42%	-5.31%	-3.25%	-6.06%	-100%	-	-3.36%	-100%
Announcement Date	09/08/19	11/11/19	07/02/20	02/06/20	17/07/20	19/10/20	05/02/21	27/04/21	30/07/21	08/11/21	28/01/22	02/05/22	04/08/22	04/11/22	01/02/23	05/05/23	04/08/23	01/11/23	06/02/24	03/05/24	02/08/24	-	-	-	-

¹INR in Million

Estimates

Forecast Balance Sheet: Britannia Industries Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	1,527	848	14,626	9,984	-1,017	-5,146	-12,201	-15,709
Change	-	-44.47%	1,624.76%	-31.74%	-110.19%	-606.25%	-337.1%	-228.75%
Announcement Date	02/06/20	27/04/21	02/05/22	05/05/23	03/05/24	-	-	-

¹INR in Million

Estimates

Cash Flow Forecast: Britannia Industries Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	2,442	2,421	5,502	7,129	5,615	4,276	4,183	4,150
Change	-	-0.86%	127.28%	29.58%	-21.24%	-23.85%	-2.16%	-0.79%
Free Cash Flow (FCF) ¹	12,404	16,090	7,493	18,133	20,115	22,219	26,575	30,350
Change	-	29.72%	-53.43%	141.99%	10.93%	10.46%	19.6%	14.21%
Announcement Date	02/06/20	27/04/21	02/05/22	05/05/23	03/05/24	-	-	-

¹INR in Million

Estimates

Forecast Financial Ratios: Britannia Industries Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	15.89%	19.1%	15.57%	17.37%	18.9%	18.94%	19.21%	19.47%
EBIT Margin (%)	14.3%	17.6%	14.15%	15.98%	17.11%	17.28%	17.6%	17.89%
EBT Margin (%)	15.9%	19.14%	14.7%	18.57%	17.39%	17.74%	18.24%	18.81%
Net margin (%)	12.09%	14.19%	10.79%	14.24%	12.76%	13.13%	13.48%	13.87%
FCF margin (%)	10.69%	12.25%	5.3%	11.12%	11.99%	12.13%	13.1%	13.52%
FCF / Net Income (%)	88.43%	86.32%	49.14%	78.1%	94%	92.4%	97.15%	97.45%
Profitability
ROA	19.92%	23.52%	19.64%	24.11%	23.23%	25.54%	27.4%	28.91%
ROE	32.41%	46.89%	49.95%	66.8%	57.25%	55.54%	53.73%	53.46%
Financial Health
Leverage (Debt/EBITDA)	0.08x	0.03x	0.66x	0.35x	-	-	-	-
Debt / Free cash flow	0.12x	0.05x	1.95x	0.55x	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	2.1%	1.84%	3.89%	4.37%	3.35%	2.34%	2.06%	1.85%
CAPEX / EBITDA (%)	13.25%	9.65%	24.99%	25.18%	17.71%	12.33%	10.74%	9.49%
CAPEX / FCF (%)	19.69%	15.04%	73.42%	39.32%	27.92%	19.24%	15.74%	13.67%
Items per share
Cash flow per share ¹	61.75	76.9	53.96	104.9	106.8	115.3	134.4	159.3
Change	-	24.54%	-29.83%	94.36%	1.85%	7.94%	16.56%	18.56%
Dividend per Share ¹	35	62	56.5	72	73.5	76.28	85.34	95.52
Change	-	77.14%	-8.87%	27.43%	2.08%	3.78%	11.88%	11.93%
Book Value Per Share ¹	183.1	147.3	106.2	146.7	163.6	189.8	222.4	248.7
Change	-	-19.56%	-27.89%	38.16%	11.52%	16.01%	17.15%	11.86%
EPS ¹	58.34	77.4	63.31	96.39	88.84	100.1	113.6	129.5
Change	-	32.67%	-18.2%	52.25%	-7.83%	12.62%	13.51%	14.06%
Nbr of stocks (in thousands)	240,468	240,868	240,868	240,868	240,868	240,868	240,868	240,868
Announcement Date	02/06/20	27/04/21	02/05/22	05/05/23	03/05/24	-	-	-