Britannia Industries (BRITANNIA) Q4 25/26 earnings summary

Executive summary

• FY26 consolidated revenue reached ₹18,858 crore, up 7.5% year-over-year, with Q4 revenue at ₹4,686 crore, a 7.1% increase.

• Full-year PAT was ₹2,533 crore, up 16.3% YoY, with Q4 PAT margin at 14.5% and annual PAT margin at 13.4%.

• International business faced disruptions from vessel unavailability and West Asia conflict, impacting exports and profitability.

• Domestic business saw strong e-commerce and premium segment growth, with e-commerce contributing 6% of sales.

• Audited results approved with a final dividend of ₹90.50 per share recommended for FY26, subject to AGM approval.

Financial highlights

• FY26 operating profit was ₹3,208 crore (+11.6% YoY); PBT ₹3,289 crore (+12.4% YoY); PAT ₹2,533 crore (+16.3% YoY).

• Q4 operating profit was ₹768 crore (+6% YoY); Q4 PAT grew 21.1% YoY, aided by income tax case closures.

• Consolidated net profit for FY26 was ₹2,561.07 crore; standalone net profit was ₹2,561.72 crore.

• Earnings per share for FY26 stood at ₹105.18 (consolidated) and ₹106.35 (standalone).

• Net cash generated from operating activities (consolidated) was ₹2,611.60 crore for FY26.

Outlook and guidance

• Management expects normalization of wholesale and rural channels as dual pricing issues resolve.

• Calibrated price increases and cost optimization initiatives to be accelerated from Q1'27.

• Sourcing optimization between India and international facilities expected to be fully operational by mid-May.

• GST rate cut expected to benefit value realization and industry growth in FY27.

• Fiscal incentive income of ₹45.72 crore recognized in FY26 following state government approval.