Mumbai (Maharashtra) [India], April 3 (ANI): Indian benchmark indices opened lower, in line with global market trends on Wednesday. At the opening, Sensex dropped by 296.27 points, or 0.39 per cent, to 73,608.94, while <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> declined by 77.10 points, or 0.35 per cent, to 22,373.95. Among the Nifty companies, 17 witnessed advances while 33 experienced declines. Notable movements were observed in Shriram Finance, Hindalco, ONGC, Tech Mahindra, and Ultra Cement, emerging as the top gainers. Conversely, Nestle India, HDFC Life, Britannia, <keyword id="20026907" type="General" weightage="20" keywordseo="sun-pharma" source="keywords">Sun Pharma</keyword>, and Bajaj Auto were among the top losers. This downward trajectory follows Tuesday's market performance, where domestic equity indices concluded a three-day rally, closing lower amidst subdued global cues. The Sensex fell by 110.64 points to 73,903.91, and the Nifty 50 settled lower by 8.70 points or 0.04 per cent at 22,453.30. Varun Agarwal, founder and managing director, Profit Idea said, "Market analysts noted that the Nifty 50 formed a small negative candle on the daily chart, indicating a potential pause in the upward momentum. However, the short-term trend remains positive, with crucial overhead resistance observed around the 22,500 levels." He added, "Additionally, Nifty Open Interest data revealed the highest Open Interest (OI) on the call side at the 22,700 and 22,800 strike prices, while on the put side, it was observed at the 22,300 strike price. On April 2nd, the Nifty 50 index closed lower by 8 points." In Asia, stocks witnessed a decline as robust economic data and higher commodity prices fueled speculation of prolonged central bank interest rate hikes. Futures contracts on US equities edged lower after the S&amp;P 500 and Nasdaq 100 dropped in Tuesday's trading. Treasuries stabilized after yields rose, with Australian and New Zealand yields climbing in early Asian trading. The dollar index remained flat, while the yen hovered near its weakest level of the year. Oil prices extended gains amid expectations of reduced US crude inventories and ahead of an OPEC meeting. Various economic data releases were anticipated in Asia, including composite PMIs for Japan and China, Hong Kong retail sales, and New Zealand house prices. Global economic surprise indices indicated strong performance, with the US and China showing robust manufacturing figures. Traders awaited remarks from Fed Chair <keyword id="20058769" type="General" weightage="20" keywordseo="jerome-powell" source="keywords">Jerome Powell</keyword> while considering comments from two Fed officials, <keyword id="21176376" type="General" weightage="20" keywordseo="mary-daly" source="keywords">Mary Daly</keyword> and <keyword id="20483251" type="General" weightage="20" keywordseo="loretta-mester" source="keywords">Loretta Mester</keyword>, who anticipate rate cuts later in 2024. Gold prices remained steady, while Bitcoin traded around USD 65,500. (ANI)

Indian benchmark indices open lower tracking global trends

<ul><li>Conceptualised by <keyword id="274876" type="COMPANY" weightage="20" keywordseo="Lowe-Lintas">Lowe Lintas</keyword> Bangalore, the campaign highlights how homemakers are the CEOs of their household -- managing everything from dawn to dusk.</li><li>The brand reminds homemakers how they already possess qualities required to be an entrepreneur, to start and manage their own business. </li></ul>On <keyword id="9798525" type="UNKNOWN" weightage="20" keywordseo="World-Entrepreneurship-Day">World Entrepreneurship Day</keyword>, <keyword id="8642723" type="UNKNOWN" weightage="20" keywordseo="britannia-marie-gold">Britannia Marie Gold</keyword> released a special TV campaign which recognizes and salutes the natural entrepreneur within every homemaker. The brand communication operates on the key insight that lack of confidence is one of the barriers keeping homemakers from starting something of their own. It also makes the point that this lack of confidence is misplaced. In fact, the brand believes that every homemaker by virtue of being a homemaker already possesses skill sets akin to an entrepreneur- leadership qualities, financial acumen, and negotiation and people management skills. All she needs to truly become an entrepreneur is to discover the talent she already has, within her. The film celebrates the homemaker in her current life state, as the anchor of her family and also nudges her to do more and be more, “Kyunki Ki Bahut Kuch Hai Karna”. <div type="Youtube" id="eEGDMifjQS4" title="Britannia Marie Gold: Geetaji Ka Sapna" thumbUrl="https://i.ytimg.com/vi/eEGDMifjQS4/mqdefault.jpg"></div> Talking about the campaign, <keyword id="3384418" type="PERSON" weightage="20" keywordseo="Vinay-Subramanyam">Vinay Subramanyam</keyword>, VP, Marketing, <keyword id="146218" type="COMPANY" weightage="20" keywordseo="Britannia-Industries">Britannia Industries</keyword> said, “Britannia Marie Gold is a brand that has intimate connections with India’s homemakers. We laud them for being the emotional anchor and all time go- to person in every family. We firmly believe that the progress the country has made sits on the bedrock of contributions and sacrifices made by the homemaker. Britannia Marie Gold recognizes the growing, inner aspirations of homemakers to do more with their potential and is committed to be the “everyday fuel” for homemakers in this bid. We dedicate this film to India’s homemakers on World Entrepreneurship Day. What better way to tell homemakers that they already have immense entrepreneurial acumen, and how a little bit of courage and confidence can make their dreams come alive”. <keyword id="491609" type="PERSON" weightage="20" keywordseo="Puneet-Kapoor">Puneet Kapoor</keyword>, Regional Creative Officer, Lowe Lintas said “Britannia Marie Gold has championed the dreams that homemakers want to achieve apart from running their households so efficiently through this creative campaign. This film celebrates those latent dreams that nearly every homemaker in the country harbours in her heart. It attempts to inspire women to give an honest shot to realising her dreams because the skill-sets of good home-making are similar to the skill-sets required to run one’s own business.”

On World Entrepreneurship Day, Britannia Marie Gold raises a toast to the hidden entrepreneur within every homemaker

<ul><li>Winkin’ Cow has a strong presence in the South of India, but the company now plans to expand in North India.</li><li><keyword id="6359432" type="General" weightage="20" keywordseo="britannia" source="Orion">Britannia</keyword> Industries sells products like biscuits, dairy in more than 80 countries across the globe.</li><li> The company has a turnover of ₹11,000 crore and produces several brands like Good Day, Tiger.</li></ul>Britannia’s flavoured milk brand Winkin’ Cow clocked in ₹100 crore in sales in FY22 — within three years of launch, the FMCG major said on Tuesday. The announcement was made on the occasion of World Milk Day. “We are extremely bullish on Winkin’ Cow and want to be a dominant player in the milk-based beverages category. We plan to extend our offerings to various segments of the dairy drinks category, from affordable stock keeping units to premium and indulgent experiences and are looking for an all-India outreach with a focus on top metros,” said Varun Berry, managing director of Britannia Industries. Winkin’ Cow has a strong presence in South India, but the company now plans to extend it to the North as well. The company aims to grow its brand by 50-60% annually with the infusion of consumer-led franchise-building as well as portfolio expansions. Abhishek Sinha, chief business officer - dairy business at Britannia Industries added that Wilkin’ Cow is one of Britannia’s most successful product innovations. The brand currently offers milkshakes, flavoured milk and lassi. “The category of dairy beverages in India is evolving and growing rapidly, driven by a large young population and consumers’ inclination to experiment with newer and healthier food and drink formats. Launch of our dairy facility at Ranjangaon is a firm step forward toward this commitment and a huge boost to our vision of making Britannia a global total foods company,” Sinha said. Britannia Industries — which sells products in more than 80 countries across the globe — claims to be growing at the pace of one new geography a year, in terms of local manufacturing operations. The company has a turnover of ₹13,000 crore with several brands under its wing like Good Day, Tiger, NutriChoice, Milk Bikis, Marie Gold, Little Hearts and others. Britannia clocked in a profit of ₹1,516 crore in FY22. The company’s revenue also increased by close to ₹1,000 crore to ₹14,359 crore in the same time frame. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-will-have-a-solid-turnaround-war-chest-if-it-clinches-the-amazon-deal/articleshow/91906347.cms">Vodafone Idea will have a solid ‘turnaround’ war chest if it clinches the Amazon deal</a> <a href="http://www.businessinsider.in/business/startups/news/vineeta-singhs-sugar-cosmetics-raises-50-mn-as-it-plans-to-add-30000-stores/articleshow/91906537.cms" data-type="tilCustomLink">Vineeta Singh’s Sugar Cosmetics raises $50 million as it plans to add 30,000 stores</a> <a href="https://www.businessinsider.in/business/corporates/news/nykaa-to-face-competitive-heat-but-its-omni-channel-experience-maybe-the-game-changer/articleshow/91883946.cms">Nykaa to face competitive heat but its omni-channel experience maybe the game changer</a>

Winkin’ Cow crosses ₹100 crore in sales, boosts Britannia’s vision to become a ‘total’ foods company

<ul><li><keyword id="6359432" type="General" weightage="20" keywordseo="britannia" source="Orion">Britannia</keyword>’s net profit plummeted nearly 23% on both quarterly and annual basis in July to September 2021</li><li>The company has been witnessing unprecedented inflation in market prices of palm oil, industrial fuel and packaging material.</li><li>Sunil D’Souza of Tata Consumer Products expects that the food inflation will worsen in the October-December quarter.</li></ul>The higher input costs has been a major pain point for all fast moving consumer goods (FMCG) players — including <keyword id="6361485" type="General" weightage="20" keywordseo="marico" source="Orion">Marico</keyword>, <keyword id="75190" type="General" weightage="20" keywordseo="nestle" source="Orion">Nestle</keyword>, Hindustan Unilever, Britannia and <keyword id="29464" type="General" weightage="20" keywordseo="parle" source="Orion">Parle</keyword> to name a few. The subsequent, rather constant, price increase across product lines has been the only saving grace for this segment to sustain their profits. However, this too may not be working as effectively as the segment may have imagined. The simple reason behind it is the rising inflation. The king of cookies, Britannia, has been increasing the prices of its products for several quarters, yet its profit has been declining. In the July to September 2021 quarter (Q2 of FY2022), the company’s net profit plummeted nearly 23% on both quarterly and yearly basis, despite increase in revenue and sales. <div type="image" title="Cookie king Britannia is unable to grow its profit despite a price increase" msid="87601047" hostid="261"></div> A similar trend was witnessed in April to June quarter of 2021 as well. Britannia, in its quarterly financial statement release on November 8, highlighted that it has been witnessing “unprecedented” inflation in market prices of palm oil at 54%, industrial fuel at 35% and packaging material at 30%. This is leading to an overall inflation in the July to September quarter to 14%. The company — which makes brands like Good Day, Tiger, NutriChoice, Milk Bikis and Marie Gold — initiated “necessary price increases” across its portfolio in order to mitigate the impact of the rising input cost, Britannia’s managing director Varun Berry said. Berry, on a call with analysts on August 2, said, “It’s a very high inflation number that we are currently sitting on. A situation like this, just necessitates [price increase]. Cost efficiency can never take care of this kind of inflation. Two-three percent we can usually take care of, but this necessitates price increase and that’s why we move forward with that.” Neha Khanna, director at investment banking and financial advisory firm Valpro, told Business Insider that apart from the rising input cost there are several other factors that could be leading to Britannia’s reducing profit. This includes stretched out working capital, marketing costs and more. Britannia’s shares fell 3% as of 12:25 p.m on November 9. This was majorly triggered by its financial performance in the last quarter. From Nestle to Parle — FMCG under stress of increased input costs Britannia is not the only company that has witnessed such a trend. Another FMCG brand Marico — which makes popular products Parachute oils, Set Wet, Livon and Saffola — noticed such a dip in its profit despite the overall increase in sales. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Profit (April-June 2021) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Profit (July- September 2021) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marico </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹365 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹316 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹268.04 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹185 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹617 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹538 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,100 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,185 crore </td></tr></tbody><tbody></tbody></table> The increasing input costs is an issue for all the players in the segment. Companies like Nestle India, Colgate Palmolive, Emami, Tata Consumer Products, Wipro Consumer Care have taken up such pricing practices over the last one year to overcome the inflation troubles. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price rise in 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marico </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Saffola, Parachute, Set Wet, Livon </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Saffola price increased by 50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dove, Lux, Pears, Hamam, Lyril, Surf Excel, Wheel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.5% hike in price of Surf Excel, Rin, Lux, Wheel Detergent </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle, KitKat, Munch, BarOne, Nescafe, Maggie </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1-3% hike in price categories </td></tr></tbody><tbody></tbody></table> Sunil D’Souza, chief executive officer (CEO) and managing director of Tata Consumer Products <a href="https://www.businessinsider.in/retail/news/a-third-of-indias-festive-seasons-is-over-whats-selling-and-whats-not/slidelist/87468577.cms#slideid=87468856">expects that the food inflation </a>will worsen in the October-December quarter. The CEO of Nestle India, Suresh Narayanan, in an interview with CNBC pointed out that nine out of the 13 key ingredients that it buys from the market have not been this expensive in nearly a decade. <div type="image" title="Britannia is unable to improve its profit despite a price increase — what’s next" msid="87601084" hostid="261"></div> “... There has been an increase in input prices. That is leading to several price increases and what we really ensure is that their price increase does not go beyond 15% in a financial year,” Parle’s senior category head of marketing B Krishna Rao said, adding that 15% price rise is the point when customer’s demand for a specific product starts dipping. Valpro’s Khanna also noted that the companies could look at changing the pack sizes by selling less for the same price, however that always has the risk of hitting consumer sentiments in some ways. “That’s a classic FMCG tactic to ensure costs are saved,” she said. The other way to increase profit is by cutting employee costs, administrative costs or maintenance costs, she added. SEE ALSO <a href="https://www.businessinsider.in/investment/news/choosing-the-best-cryptocurrency-exchange-your-options-and-how-to-pick-between-them/articleshow/87539690.cms" style="">Choosing the best cryptocurrency exchange — your options and how to pick between them</a> <a href="https://www.businessinsider.in/investment/news/illegal-mining-for-cryptocurrencies-remains-rampant-as-miners-look-to-maximise-profits-with-cheap-electricity/articleshow/87505141.cms" style="">Illegal mining for cryptocurrencies remains rampant as miners look to maximise profits with cheap electricity</a> <a href="https://www.businessinsider.in/investment/news/cryptopunks-sees-another-bizarre-sale-in-seven-days-this-time-for-an-unreasonably-cheap-price/articleshow/87490463.cms" style="">Another bizarre CryptoPunks' sale in the last seven days — this time for an unreasonably cheap price</a>

Britannia is unable to improve its profit despite a price increase — what’s next

<ul><li>Britannia posted a 117% jump in its consolidated net profit to ₹545.7 crore for the first quarter ended June 30</li><li>The total revenue was up 26% to ₹3,384 crore compared to the same period last year.</li><li>The company stated in its quarterly filings that it “implemented some innovative ways of working in sales, supply chain &amp; other support functions” during the pandemic, which supported the growth. </li></ul>Biscuits and bakery products maker Britannia just posted a whooping 117% jump in its consolidated net profit to ₹545.7 crore for the first quarter ended June 30. The total revenue was up 26% to ₹3,384 crore compared to the same period last year. With this, it surpassed the street estimate of revenue growth to be between 18% to 23% for the quarter. <div type="Article" hostid="261" msid="76215256" title="The $6 billion Wadia family’s plan to shed stake in Britannia has the 150-year old Bombay Burmah up and running" mstype="2" mssubtype="0"></div> The growth rate is impressive not just because it is better than most other companies, this is also better than Britannia’s record before the pandemic. <div type="image" title="Copy of Britannia&amp;#39;s revenue growth (4)" msid="77015602" hostid="261"></div> According to Motilal Oswal, its large brands like Good Day, Milk Bikis and Marie Gold have employed localized strategies to meet the unique needs of different markets and fight local players. And the company itself admitted in its quarterly filings that it “<a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/22675e1a-5c8c-4eaf-9cfa-05b63b7f212b.pdf">implemented some innovative</a> ways of working in sales, supply chain &amp; other support functions” during the pandemic. “Our nimble culture helped us quickly adapt to the situation &amp; meet the market demand. As soon as the lockdown was eased, we focussed on getting our distribution back to the pre-COVID levels and increasing our rural &amp; hinterland reach, <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/22675e1a-5c8c-4eaf-9cfa-05b63b7f212b.pdf">said</a> Varun Berry, managing director, Britannia Industries. Investors were already hoping for blockbuster earnings from the company, and that is the reason why the stock is up over 42% since March 31. <div type="image" title="Britannia (1)" msid="77015624" hostid="261"></div> Operating during the lockdown wasn’t cheap “On the cost front, we witnessed moderate inflation in the prices of key raw materials and expect the prices to be stable going forward given the positive outlook on monsoon &amp; harvest. Given the dynamic nature of the pandemic &amp; associated uncertainty, we were quick to resort to cost efficiencies through extraction of supply chain efficiencies, reduction in wastages and fixed costs leverage,” said Berry. Despite the increase in costs, Britannia reported a massive 670 bps increase in operating profit margin during the quarter. A hundred bps make up 1%. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/britannia-industries-first-quarter-earnings-preview-and-share-price-chart/articleshow/76996918.cms" data-type="tilCustomLink">Britannia may have sold more biscuits during the covid-19 lockdown than ever before ⁠— the earnings may reflect that</a> <a href="https://www.businessinsider.in/business/corporates/news/how-britannia-is-beating-parle-g-in-market-share/articleshow/76744606.cms" data-type="tilCustomLink">Here’s how Britannia is eating into ParleG’s market share for five years now⁠— and now wants more of it</a>

Britannia profit more than doubled during the lockdown and sales were the best in at least five quarters

<ul><li>Britannia share price surged almost 38% as investors expect strong growth from the company. </li><li>The estimated 18% to 23% growth in April-June 2020 revenue is better than the company’s previous record.</li><li>The Wadias-owned company makes 80% of its revenue from biscuits but it is also increasing its market share in a key essential product: milk.</li></ul>The revenue for India’s largest biscuits maker Britannia is expected to grow anywhere between 18% to 23% in the April-June 2020 period, the three months where most of the country was under strict lockdown to contain the spread of the COVID-19 virus. This growth rate is impressive not just because it is better than most other companies, this is also better than Britannia’s record before the pandemic. The fact that people were hoarding easily consumable items like biscuits led to a spike in sales. Axis Capital and Sharekhan expect the profit to grow in excess of 50%. <div type="image" title="Copy of Britannia&amp;#39;s revenue growth (1)" msid="76996923" hostid="261"></div>And that is the reason why the stock has run up 38% since March 31 until now as investors expect a blockbuster earnings from the company that makes 80% of its revenue from biscuits. <div type="image" title="Britannia" msid="76996953" hostid="261"></div><table style="width: 96pt;"> <colgroup></colgroup><col /> <tbody><tr> <td class="xl65" style="height:15.0pt;width:48pt">Stocks</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 48pt;">Change since March 31</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Brittania</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">39%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Nestle</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">9.46%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Dabur India</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">7.42%</td> </tr></tbody></table>*as of July 15 3:30 pm It is not just that people wanted to stock up on biscuits but the company ensured it reached everyone who wanted it Britannia Industries is already known to be eating <a href="https://www.businessinsider.in/business/corporates/news/how-britannia-is-beating-parle-g-in-market-share/articleshow/76744606.cms">into ParleG’s market share</a> for a long time now. According to Motilal Oswal, its large brands like Good Day, Milk Bikis and Marie Gold have employed localized strategies to meet the unique needs of different markets and fight local players. It has also partnered with <a href="https://www.businessinsider.in/business/news/britannia-partners-with-dunzo-for-home-delivery-of-essentials-food-items/articleshow/75024021.cms">Swiggy, Dunzo</a> and retailers to sell directly to consumers outside the big cities. “The company has created a strategy to win in ‘Many Indias’ in order to grow the biscuits business,” said Motilal Oswal report. Not relying on biscuits alone Britannia makes nearly 80% of its revenue from biscuits. That is likely to change as the company wants to expand the ‘non-biscuits’ segment. It has plans to make it contribute up to 50% of revenue in the next five years. The company is also increasing its dairy market share. It has scaled up the milk procurement in Ranjangaon, Maharashtra up to 25,000 liters/day from 1,000 farmers. Its ‘Cream wafers’ is now ₹70 billion category and is growing at a healthy pace, the report said. Britannia also wants to add 200,000 to 300,000 outlets every year targeting rural consumers. It currently has a reach of 2.2 million outlets and about ₹200 crore to ₹300 crore to spend on increasing this reach. New product launches According to Motilal Oswal, the reason behind Britannia’s great market penetration can also be the range of products including <keyword id="9585971" type="COMPANY" weightage="20" keywordseo="britannia-treat-burst">Britannia Treat Burst</keyword>, Britannia Treat Stars and Britannia 50-50 Jeera, Treat-Tiramisu and Red Velvet and Little Hearts Strawberry that it launched last year. It also re-launched Good Day biscuits, the most popular brand of the company, and NutriChoice Cream Crackers, NutriChoice Thin Arrowroot with an improved product mix, visual product differentiation. New categories introduced over the past few years, now contribute 2% of sales, which is encouraging, the report said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/rossari-biotech-the-maker-of-products-for-brands-like-vim-rin-domex-and-surf-will-get-listed-on-july-23/articleshow/76991473.cms" data-type="tilCustomLink">The maker of products for brands like Vim, Rin, Domex and Surf will get listed on July 23</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-vs-tcs-vs-wipro-comparison-of-share-price-and-earnings/articleshow/76996578.cms" data-type="tilCustomLink">Infosys shares are on fire because it beat TCS and Wipro⁠— and gave a soothing guidance</a>

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