Reports › Company profiles › Britannia Industries Limited
Britannia Industries Limited
Sector: FMCG, Bakery and Dairy | HQ: Kolkata, West Bengal | Founded: 1892 | Employees: ~3,600
Listed as: NSE / BSE listed; Nifty 50 constituent | NSE / BSE | Ticker: BRITANNIA.NS | Website →
Live stock price (NSE)
₹5,411
-109.50 (-1.98%) today
Source: Yahoo Finance · Refreshed every 15 minutes · Fetched 11/5/2026, 4:34:22 pm IST. For information only; not investment advice.
Key people
- Nusli Wadia (Chairman)
- Varun Berry (Managing Director)
Company overview
Britannia Industries Limited is one of India's oldest and most iconic FMCG companies, founded in 1892 in Kolkata as a biscuit manufacturer for the British Indian Army. Today Britannia is the largest biscuit manufacturer in India by revenue and volume, with FY25 consolidated revenue of approximately ₹17,200 crore and PAT of ₹2,500 crore. The company is part of the Wadia Group, led by Chairman Nusli Wadia. Britannia operates 14 manufacturing facilities across India and 5 international facilities, with brands including Marie Gold, Good Day, Tiger, Bourbon, Treat, NutriChoice, Milk Bikis, 50-50, Pure Magic, and the recently relaunched dairy products portfolio.
Business model
Britannia operates two reporting segments. Bakery products (biscuits, cakes, rusks, breads) is approximately 90 percent of revenue and the principal profit pool. Dairy products (cheese, yogurt, ghee, milk) is the smaller segment with strategic relevance for capturing value-added dairy growth. Britannia distributes through approximately 6 million retail outlets in India and 60+ countries internationally, with a particular strength in the Middle East and Africa export markets.
Operating segments
Biscuits
India's largest biscuit franchise. Good Day, Marie Gold, Tiger, Bourbon, 50-50, NutriChoice. Approximately 35 to 37 percent value share in organised biscuits.
Cakes and Rusks
Branded cakes (Treat, Wonderpark) and rusks. Growing premium-cakes segment.
Bread
Britannia bread brand; smaller volume but strategic presence in metro markets.
Dairy
Cheese, yogurt, ghee, butter. Re-investment phase to scale the dairy franchise.
International
Exports to 60+ countries; manufacturing in Oman, UAE, Nepal.
Financial performance and recent trajectory
Britannia reported FY25 consolidated revenue of approximately ₹17,200 crore with EBITDA of ₹3,150 crore. EBITDA margin is in the 18 to 19 percent range, near the upper end of the global biscuit-industry benchmark. The company has historically generated very strong free cash flow conversion above 90 percent. Capital expenditure is moderate at ₹500 to ₹800 crore per year. The balance sheet is debt-light and cash-generative; surplus capital is returned through dividends and occasional buybacks.
Stock performance and shareholder context
Britannia (NSE: BRITANNIA, BSE: 500825) is a Nifty 50 constituent. The stock has historically traded at a premium P/E in the 55 to 70x range. Wadia Group holds approximately 50 percent.
12-month price trajectory
Monthly closes over the last 12 months. Source: Yahoo Finance.
Competitive position
Britannia leads the Indian biscuits market with approximately 35 to 37 percent value share, ahead of Parle Products (the largest by volume due to Parle-G dominance in the value tier), ITC Sunfeast (the third-largest and the fastest-growing premium-segment brand), Anmol Industries, and Surya Food and Agro. Premium-segment biscuits (Good Day, Bourbon, 50-50) are the higher-margin growth driver; the value-segment Tiger and Marie Gold are volume anchors. Britannia's distribution and brand investment have been the structural moats.
Key risks
Wheat and palm oil input cost inflation; urban biscuit consumption sluggishness; aggressive ITC Sunfeast premium expansion; private-label and modern-trade pricing pressure; dairy segment execution risk.
Outlook
Stable outlook on the secular growth of branded biscuits and the premium-segment up-trade. Britannia is the benchmark for any new entrant in Indian biscuits manufacturing on distribution depth, brand investment, and operational efficiency.
KAMRIT point of view
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Disclaimer: This profile is compiled by KAMRIT Financial Services LLP for educational and benchmarking purposes only. It is not investment advice, a recommendation to buy or sell securities, or a solicitation. Stock data is provided by Yahoo Finance and may be delayed by up to 20 minutes. Company financial commentary draws on publicly available filings, exchange disclosures, and KAMRIT industry research. Readers should consult a SEBI-registered investment adviser before making investment decisions. KAMRIT is a financial services and compliance firm, not a SEBI-registered investment adviser.