For
the quarter ending March 2024, consolidated Net sales (including other operating income) of Britannia Industries has increased 1.15% to Rs 4069.36 crore compared to quarter ended March 2023. Operating profit margin has declined from 19.91% to 19.35%, leading to 1.68% decline in operating profit to Rs 787.45 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 50.33% to 50.44%. Purchase of finished goods cost rose from 4.72% to 4.74%. Employee cost decreased from 4.24% to 3.98%. Other expenses rose from 20.79% to 21.53%. Other income rose 1.72% to Rs 57.34 crore. PBIDT fell 1.45% to Rs 844.79 crore. Provision for interest fell 24.15% to Rs 26.44 crore. Loan funds declined from Rs 2,997.37 crore as of 31 March 2023 to Rs 2,064.96 crore as of 31 March 2024. Inventories declined from Rs 1,193.26 crore as of 31 March 2023 to Rs 1,181.22 crore as of 31 March 2024. Sundry debtors were higher at Rs 393.33 crore as of 31 March 2024 compared to Rs 328.94 crore as of 31 March 2023. Cash and bank balance rose to Rs 446.35 crore as of 31 March 2024 from Rs 197.98 crore as of 31 March 2023. Investments declined from Rs 3,324.24 crore as of 31 March 2023 to Rs 2,766.72 crore as of 31 March 2024.
PBDT fell 0.49% to Rs 818.35 crore. Provision for depreciation rose 22.35% to Rs 79.93 crore. Fixed assets increased to Rs 2,828.86 crore as of 31 March 2024 from Rs 2,632.06 crore as of 31 March 2023. Intangible assets increased from Rs 128.16 crore to Rs 129.82 crore.
Profit before tax down 2.46% to Rs 738.42 crore. Provision for tax was expense of Rs 198.01 crore, compared to Rs 203.5 crore. Effective tax rate was 26.95% compared to 26.74%.
Minority interest decreased 57.55% to Rs -1.67 crore. Net profit attributable to owners of the company decreased 3.65% to Rs 538.28 crore. Equity capital stood at Rs 24.09 crore as of 31 March 2024 to Rs 24.09 crore as of 31 March 2023. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 50.55% as of 31 March 2024 ,compared to 50.55% as of 31 March 2023 .
Full year results analysis.
Net sales (including other operating income) of Britannia Industries has increased 2.88% to Rs 16769.27 crore. Operating profit margin has jumped from 17.37% to 18.90%, leading to 11.97% rise in operating profit to Rs 3,169.84 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 50.86% to 50.98%. Purchase of finished goods cost fell from 8.17% to 5.62%. Employee cost increased from 4.02% to 4.23%. Other expenses rose from 19.67% to 20.27%. Other income fell 0.78% to Rs 214.18 crore. PBIDT rose 11.07% to Rs 3384.02 crore. Provision for interest fell 3.02% to Rs 164 crore. Loan funds declined from Rs 2,997.37 crore as of 31 March 2023 to Rs 2,064.96 crore as of 31 March 2024. Inventories declined from Rs 1,193.26 crore as of 31 March 2023 to Rs 1,181.22 crore as of 31 March 2024. Sundry debtors were higher at Rs 393.33 crore as of 31 March 2024 compared to Rs 328.94 crore as of 31 March 2023. Cash and bank balance rose to Rs 446.35 crore as of 31 March 2024 from Rs 197.98 crore as of 31 March 2023. Investments declined from Rs 3,324.24 crore as of 31 March 2023 to Rs 2,766.72 crore as of 31 March 2024.
PBDT rose 11.90% to Rs 3220.02 crore. Provision for depreciation rose 33% to Rs 300.46 crore. Fixed assets increased to Rs 2,828.86 crore as of 31 March 2024 from Rs 2,632.06 crore as of 31 March 2023. Intangible assets increased from Rs 128.16 crore to Rs 129.82 crore.
Profit before tax grew 10.10% to Rs 2,919.56 crore. Provision for tax was expense of Rs 779.25 crore, compared to Rs 716.45 crore. Effective tax rate was 26.75% compared to 23.62%.
Minority interest decreased 2.57% to Rs -5.59 crore. Net profit attributable to owners of the company decreased 7.84% to Rs 2,139.81 crore.
Equity capital stood at Rs 24.09 crore as of 31 March 2024 to Rs 24.09 crore as of 31 March 2023. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 50.55% as of 31 March 2024 ,compared to 50.55% as of 31 March 2023 .
Cash flow from operating activities increased to Rs 2,572.98 crore for year ended March 2024 from Rs 2,526.21 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 561.52 crore, compared to Rs 711.46 crore during the year ended March 2023.
Other Highlights
The board recommended a final dividend of Rs
73.5 per equity share of Re 1 each for the financial year ended 31 March 2024. Record
date for the final dividend is Monday, 5th August 2024.