Available company data, source links and archived checks for Britannia Industries Ltd.. Read each source and date: a past check is not a fresh review, and some earlier figures have incomplete source details.
Quarter ended 2026-06-30 · consolidated · Company filing
| Quarter | Revenue / income | YoY | Profit | YoY | Net margin | Source |
|---|---|---|---|---|---|---|
| Jun 2026 | Revenue: ₹5,000 cr | +8.2% | Net profit: ₹593 cr | +14.1% | 11.9% | Company filing source |
| Mar 2026 | Revenue: ₹4,719 cr | +6.5% | Net profit: ₹680 cr | +21.6% | 14.4% | Company filing source |
| Dec 2025 | Revenue: ₹4,970 cr | — | Net profit: ₹682 cr | — | 13.7% | Company filing source |
| Sep 2025 | Revenue: ₹4,841 cr | — | Net profit: ₹655 cr | — | 13.5% | Company filing source |
| Jun 2025 | Revenue: ₹4,622 cr | +8.8% | Net profit: ₹520 cr | +3.0% | 11.3% | Company filing source |
| Mar 2025 | Revenue: ₹4,432 cr | — | Net profit: ₹559 cr | — | 12.6% | Company filing source |
YoY means change from the same quarter a year earlier. — means no comparable figure is available. Older entries with incomplete source details have not been revalidated under the current checks.
'Britannia Industries Limited Q4 FY '26 Earnings Conference Call' May 08, 2026
| Anand Shah: | I was just asking on a broad basis, you give color on the overall RM, but as an index level, what kind of inflation you are seeing and what hikes you have already taken? |
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| Rakshit Hargave: | So like we said -- wheat is a positive for us, although like I said, in the last 1 month because of rains and some poor quality of wheat arrivals, the price has gone up. But about 1 month back, so it was good. But it is going upwards. So wheat is going upwards. Palm oil is also higher, although we are covered, but we know that palm oil has a connection with fuel prices. Sugar is more or less normal. We told you -- you're talking about raw materials so these are the three most important raw materials. |
| N Venkataraman: | Fuel.. |
| Rakshit Hargave: | Fuel, of course. Fuel is a challenge for everybody. So, we use LPG, we use CNG, and the inflation on that is openly available in the market, which is also what we are having to pay. |
| Moderator: | Kindly come back for a follow-up question. Next question is from the line of Arnab Mitra from Goldman Sachs. |
| Arnab Mitra: | My first question was actually on the GST impact on price point packs. So Rakshit, what we have seen in many other food categories is because of the mathematics of INR 5 and INR 10 pack when the GST goes down, your net realization per pack obviously goes up as a company, of course, assuming transactions are same. So, in my understanding, in noodles, chocolates kind of categories, there has been a significant uplift in value growth because of that. Should the same logic not play out in biscuits also whilst |
| Rakshit Hargave: | the price issue is over? Or do you think biscuits are already different, and therefore, if you give higher grammage, the transactions can actually drop in terms of the number of packs? No. So, I think biscuits is also a bit impulsive and is also a bit planned purchase. So, if you are giving a bit more biscuit or a bit less biscuit, I don't think from a consumer transaction point of view, it has a bigger impact because it's a part of routine shopping basket, people keep buying it regularly. So, for our biscuit category, the GST change, I think, is very silent unless there is a dramatic shift where you have to reduce the grammage so much or something which becomes noticeable to the consumer, which is not the case here. |
| Arnab Mitra: | Got it. So, my question actually was should you then not see a significant increase in value growth once the transition has happened? Because as a company, you would realize a lot higher on a per pack basis given the lower GST. And therefore, should we not see a much faster acceleration in growth as things stabilize? I'm not saying going back to normative levels, but should it not be significantly above normative levels given this dynamic? |
| Rakshit Hargave: | So, you see, we are also positive that we will have a good realization. But because of the issues in the market in the last 4 or 5 months, we have not been able to see in what way this trend will move. But if it happens like that, we are happy that you brought it to the fore. |
| Arnab Mitra: | Got it. And my second and last question was on margins. So, given the cost pressures and also your initiatives on innovation and the strategy, is there any implication for EBITDA margins for |
BRITANNIA
| FY '27? Could you have some impact as you invest in these and also face cost pressure? Or do you think you have enough cost-saving efforts to mitigate these investments? | |
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| Rakshit Hargave: | So, Britannia has a history of being very tight in its operations and very strong cost-effective program measures, which obviously have been put into fore. And obviously, when we spend, we will also be selective and try and put our marketing mix model in such a manner that while we invest more, we invest where our returns are better. I think there are some learnings that we have from the past, and we will apply that. So, while, |
| Moderator: | yes, the operating environment is tough, the fuel inflation, the laminate inflation is there for us. But the team is confident that within a certain band, we'll be able to manage it. Next question is from Nihal Jham from HSBC. |
| Nihal Jham: | A couple of questions. The first is a clarification that when you've mentioned ex of West Asia, is it that both the domestic operations was 9% or... |
| Moderator: | Nihal, sorry to interrupt. Your voice is breaking. Can you come in a better reception area, please? |
| Nihal Jham: | Is it better now? |
| Moderator: | Slightly. |
| Nihal Jham: | Rakshit, my first question was a clarification that could you clarify that when you mentioned the 9% number, was that the growth for the domestic operations for the Q4 quarter and the impact on the consol growth of 3% was because of the international impact of West Asia? |
| Rakshit Hargave: | So, like we said, the domestic business was growing at more or less close to 9%, 9.5%, which we have said. And the small pressure that we had in the month of March was only because of West Asia. And going back to the questions to previous back, to this domestic growth of 9%, 9.5%, you have to add whatever basis points we have lost potentially because of this dual pricing in these particular channels. I hope that answers your question. |
| Nihal Jham: | That does. The second was that, obviously, in your presentation, you were reflecting the cost based on the current inventory that you're holding. Just to understand, based on the current inflation because, obviously, the spot prices are much higher than what raw material may be holding, what will be the ballpark inflation that we are facing right now? |
| Rakshit Hargave: | So you see, in terms of palm oil, we are covered for the next 5 months. And I think we have a favorable rate against the market. Also on wheat, we are one of the most proactive and aggressive buyers and we have a good reading of the market. So also on wheat point of view, the inventory that we have right now for the next, I believe we are now already covered for about 5.5, 6 months is also at a price which is attractive even if you had the carrying in the inventory cost. So the inventory that we are holding right now is a favorable one. |
| Moderator: | Next question is from the line of Vivek Maheshwari from Jefferies India. |
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'Britannia Industries Limited Q4 FY '26 Earnings Conference Call' May 08, 2026
| Kunal Vora: | Just to understand that dual pricing issue. Competition was selling pack for INR 4.5 and INR 9. So does it say -- retailers, I believe we're making higher margins on their packs versus your packs. So, is that the main cause and let's say, because of that, like you could have lost some market share in the interim? And is it fair to say that now that, let's say, the prices have been reinstated at INR 5 and INR 10, let's say, that situation normalizes and the benefit of GST rate cut which are already visible in |
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| Rakshit Hargave: | other categories, will be visible for you only in FY '27? Just to get an understanding of this issue right now. Okay. So Kunal, you are asking two questions. So, you see, the benefit of GST rate cut will be more visible in packs which are of a higher pricing configuration because the consumer sees that, okay, something was INR 50 is now INR 44, or as it has happened in other companies and categories where you have INR 50, INR 70, INR 100, INR 150 packs where the difference is noticeable. On a INR 5 and INR 10 biscuit, it is not visible so perceptibly because usually what happens is that the consumer buys because it's selling at a particular price point, okay. Now in your first question, in terms of some of the competition selling at INR 4.50 and INR 9 and some of the wholesalers wanting to give more preference, from a market share, let me point |
| out that the price realization is also for those players, INR 4.50 and INR 9 versus INR 5 and INR 10. So, from a value share point of view, if you look at that, I don't think it would make much of a difference. And our own workings on a value share say that the difference is not there. But yes, it could be from a transaction point of view some wholesalers and rural markets would probably want to stop that more because they see an opportunistic moment where they can make a higher | |
| Kunal Vora: | margin. Understood. And does it mean that, let's say, what was not visible in your case, which is benefits of GST rate cut in second half, could be visible in FY '27?, Like maybe if you can share your views on how FY '27 looks like in terms of both growth and margin. |
| See, in the medium to longer term, the GST rate cut is obviously going to benefit the industry, and Britannia being a leader is also going to benefit that maybe even more. We know that the brand strength that we have and the portfolio that we have across price points will have a positive impact because of this reduction in GST. | |
| Rakshit Hargave: | Now as far as the INR 5 and INR 10 price points that you talked about, with the pricing stabilization, we obviously expect that the channels where we may have felt a bit of pressure will come back to normalcy. And our team is very confident that during the course of the that movement has already begun and should stabilize. |
| quarter, We also know that the biscuit industry starts to have a sequential growth from June onwards when monsoon starts to hit and when children start going back to school. So, we expect those things to start rolling in along with this price of the dual pricing going away as a very positive for us. |
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| Vipin Kataria: | Yes. And I think the true parameter is this B2C business, which is 75% like I called out, which is growing at a very good -- healthy clip. So I think that gives us the confidence that as this GST transition and the dual pricing is fading out, even this B2B of 25% of our business will start |
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| Moderator: | moving up. Next question is from the line of Avi Mehta from Macquarie Capital. |
| Avi Mehta: | Given this kind of clarification that the fuel pricing is likely transitionary and the fact that price hikes are also kind of being taken not just by the industry but by you, could you share your thoughts on whether you expect FY '27 to result in a stronger sales growth than what we saw in FY '26 because of the pricing component? Or basically just trying to appreciate or understand the domestic demand environment. |
| Rakshit Hargave: | So, you see, if we take a look at the domestic demand environment, we also have to see how does the year move ahead as far as conditions which are not in our control. So say, for example, whether it is monsoon or whether it is the coming off seasons, they will go on as they are. We are very confident that our portfolio, the strategy that we have in terms of creating demand, the higher advertising spend and the marketing investments that we are doing in the retail trade, along with the strategic levers that I showed you of our strategy on premiumization, on future |
| Avi Mehta: | platforms, on the Many Indias that we have created, we are quite confident that we will be able to generate demand and have a good year. But obviously, we have to execute that as the year goes on. But the team is extremely confident that we will be able to manage the demand environment and come out on top. If I may probe you a little bit more here, but when you say a good growth, basically, what I'm trying to understand is the pricing something that you believe will have a higher impact, price elasticity or your belief on how it would pan out is what I was trying to garner. That was the key bit, and that's where the question comes from. Not from a numbers perspective, but just your |
| Rakshit Hargave: | thoughts on how you see pricing elasticity kind of panning out and, in turn, kind of flowing through growth rates for the industry and for us? So, say, for example, if the players are having to take a price increase, there has already been a price drop which has happened because of GST. So, I think you are coming back to a situation which is somewhat equal to what was there maybe 6 to 7 months back. And the demand situation |
| at that time was quite good. So, I don't think that pricing either a bit upwards or either a bit downwards is going to have any major impact from an elasticity point of view. This category is vibrant. There is a lot of action. And we are confident that even with the small increase in price, which is being necessitated because of the conditions, the demand situation will remain fairly strong. | |
| Avi Mehta: | Got it, got it. And just a bookkeeping. What is the volume growth that we saw in the last quarter, 4Q? That's all from me. |
| Rakshit Hargave: | So we had a volume growth of close to 5.5% upwards. |
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All figures are in ₹ Crores unless stated.
All figures shown in the extract are in the format presented; the extract does not state units or a currency scale.
BRITANNIA INDUSTRIES LIMITED
| PARTICULARS S.No. | QUARTER ENDED - 30.06.2026 - (Unaudited) | QUARTER ENDED - 31.03.2026 - (Audited) 6 | QUARTER ENDED - 30.06.2025 - (Unaudited) | YEAR ENDED - 31.03.2026 - (Audited) |
|---|---|---|---|---|
| (b) Diluted (₹) | 24.55 | 28.16 | 21.62 | 105.18 |
See accompanying notes to the unaudited consolidated financial results
(₹ in Crores)
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