Britannia Industries (BIL), India’s leading Food Company reported Consolidated Sales of Rs. 4,338 Crores growing at 22% & Profit from Operations at Rs. 660 Crores growing at 30% for the quarter.
Commenting on the performance, Varun Berry, managing director, said, “We have witnessed positive growth momentum over the last few months. Our Go-to-market strategy & increase in distribution reach have converged to deliver a robust topline growth of 22% YoY & 19% QoQ, aided by mid-single-digit volume growth, as we record our highest quarterly revenue. We continue to have aggressive market share gains, consistently over the past 38 quarters & registering a 15-year high, which is a testimony of our Brand strength & team’s execution capability. Our direct distribution jumped to 26 lakhs outlets, with an additional of 4 lakhs outlets in the last 6 months. We continue to make strides in our Rural journey and we now have appointed ~28,000 Rural Preferred Dealers, which has led to consistent market share gains.”
Berry further adds, “We supported our strong brands with the requisite media investments in the digital & mass media space. It was a quarter of consolidation where we supported our newly launched products eg. Treat Croissant, NC Seeds & Herbs, Biscafe, Potazos, 50-50 Golmaal, Marble cake & Rs 5 Muffils across geographies & channels. Some of our new launches have done extremely well & continue to grow aggressively quarter on quarter.”
“On the cost & profitability front, commodity inflation remained on the boil on the back of rising inflation in Flour & Milk products. In this dynamic environment, as a result of our pricing actions and intensified cost efficiency program, we have been able to improve our operating margins beyond pre-covid levels.
On the sustainability front, I am delighted to share that the latest DJSI score has seen an improvement from 37 to 52 and we now sit in the 91st percentile of companies in this sector. We stay committed to our ESG framework of People, Growth, Governance, and Resources and shall continue to focus on our initiatives to build a Sustainable Profitable business,” He concludes.