Yogesh Mehta
Britannia Industries has delivered consistent healthy performance. Rapidly expanding distribution, continuing investment in R&D and significant expansion of its own manufacturing indicate the immense confidence that management has on growth prospects.
The opportunity beyond biscuits is also substantially high. Continuing premiumisation, significant incremental cost savings, lined up new product launches in FY19 and favourable commodity cost outlook mean that 15 percent EBITDA margins are achievable.
We have a buy on the stock with target of Rs 6180 per share.
Disclaimer: The author is Vice President - Equity Advisory at Motilal Oswal. The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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