Britannia Industries (BRITANNIA) Q3 24/25 earnings summary

Executive summary

• Achieved consolidated Q3 FY25 revenue of ₹4,592.62 crore, up 6.5% year-over-year, with profit after tax growing 4.8% and PAT margin at 13%.

• Volume growth nearly matched revenue growth, with minimal price increases until recently.

• Market share in biscuits maintained through distribution expansion, brand investments, and price competitiveness.

• Innovation, new product launches, and digital campaigns drove consumer engagement.

• The Board approved results on 6 February 2025, with an unmodified review report.

Financial highlights

• Net sales up 6.5% year-over-year to ₹4,592.62 crore, operating profit up 3%, and profit after tax up 4.5% to ₹779.25 crore.

• Operating profit margin for Q3'25 was 17.1%, and PAT margin was 13%.

• Adjacency businesses like croissants and milkshakes grew at strong double digits, with e-commerce contributing 17% for croissants, 9% for cakes, and 11% for dairy.

• Consolidated basic and diluted EPS for Q3 FY25 were ₹24.15, up from ₹23.11 in Q3 FY24.

• Standalone Q3 FY25 revenue from operations was ₹4,418.13 crore, with standalone net profit at ₹557.13 crore.

Outlook and guidance

• Expecting cumulative price increases of 6%-6.5% by Q1 next year to offset 11% commodity inflation.

• Cost efficiency target set at 2.5% of revenue for the next year.

• Focus on sustaining current profit margins and driving market share.

• CapEx planned at INR 150-200 crores for FY25, with no major expansions anticipated.

• Continued focus on core business performance as a single segment in "Foods."