Britannia Industries, the only Indian food company to be present in Forbes’ Global list of 300 Best Small Companies, has revealed impressive Q2 results, with sales up 15% and profits up 68%.
Biscuits contribute to over 80% of Britannia’s turnover, and have witnessed 15% volume grow. The company also produces bread, which was challenged by the range marketed by Hindustan Lever, and cakes, which saw a 7% growth in volume. It has recently re-launched a milk products portfolio under the umbrella Milkman brand.
Britannia was last in the news (https://www.just-food.com/news_detail.asp?art=14787) after a strong “buy” recommendation from Cazenove & Co, and this confidence is now vindicated. Together with Parle Products, the company controls 70% of the market share in India, and this has remained un-dented despite the recent launch of international brands, Sara Lee and Kwality, and the ongoing operations of a huge roster of other domestic manufacturers.
By Navroz Havewala