Britannia Industries: announces FY 2014/2015 results

Bangalore / IN. (bil) Britannia Industries Limited (BIL), India’s leading food company, in May reported consolidated revenue growth of 13.8 percent for the year at 7’775 INR crores. Profit from operations for the year at 719 INR crores increased by 32.2 percent and on an equalised basis at 778 INR crores grew 43 percent. Net profit increased by 74.2 percent to 689 INR crores. Net profit for the year includes 124 INR crores (post-tax) of profit from sale of land + building. Excluding the one-time profit on sale of land + building, growth in Net Profit for the year was 42.9 percent.

On a standalone basis, revenue for the year at 7’100 INR crores increased by 13.9 percent. Profit from operations for the year at 654 INR crores increased by 22.7 percent and on an equalised basis at 707 INR crores grew 32.5 percent. Net profit increased by 68.3 percent to 622 INR crores. Net profit for the year includes 124 INR crores (post-tax) of profit from sale of land + building. Excluding the one-time profit on sale of land + building, growth in Net Profit for the year was 34.9 percent.

In Q4, consolidated revenue grew 14.3 percent at 2’032 INR crores. Profit from operations at 204 INR crores increased by 38.4 percent and on an equalised basis at 231 INR crores grew 56.8 percent. Net profit increased by 55.4 percent to 167 INR crores. On a standalone basis, revenue increased by 14 percent to 1’847 INR crores. Profit from operations increased by 20.8 percent to 179 INR crores and on an equalised basis at 205 INR crores grew 38 percent. Net profit increased by 54.1 percent to 141 INR crores.

Commenting on the performance, Managing Director Varun Berry said, «We continued the growth momentum with revenue growth of 14 percent and 200 bps expansion in operating margin (on an equalised basis for the year), despite no pickup in the market growth. This was achieved through strengthening of our fundamental building blocks with increased depth in distribution; tight management of fixed costs and through increased cost efficiencies. In the second half of the year we embarked on our innovation journey with organoleptically delightful products being launched in the market with the objective of tapping new sources of growth and profitable revenue, while building brand differentiation and relevance. We are confident that our strong + passionate team shall take the business to even greater heights in the coming future».