Britannia Industries, still popular as Britannia Biscuits, has maintained its upward curve. Sales for the last quarter grew 17 % from US$58m to US$68m, and post-tax profit 27% from US$2.6m to US$3.3m – this despite higher excise duties of US$5m.
Britannia is the first or second player in most product categories, including biscuits, where its main competitor is Parle Products, and bread, against Lever‘s latest acquisition from the government, Modern Bakeries Ltd. It recently launched two new products, chocolate chip cookies and cashew-shaped savoury biscuits. This is a typical Indian generic staple category, popular among consumers who cannot afford real cashew nuts.
By Navroz Havewala, just-food.com correspondent