Biscuit-maker Britannia Industries Ltd shares slipped in trade on Wednesday, August 6, following its muted earnings show for the quarter ended June 30, 2025.
Britannia Industries reported a 3 percent rise on-year in consolidated net profit at Rs 520.13 crore for the June quarter of FY26. The biscuit maker had reported a net profit of Rs 504.88 crore in the June quarter a year ago.
Revenue from the sale of products was up 9.8 per cent to Rs 4,534.86 crore in the June quarter, while revenue from operations was higher by 8.75 per cent to Rs 4,622.22 crore.
At 9.22 a.m., shares of the firm were quoting Rs 5,528 on the NSE, lower by 1.9 percent compared to the previous session's close.
Commenting on the performance of the company, Vice Chairman & Managing Director Varun Berry said that the company achieved double-digit growth on the back of marginal uptick in consumption across both urban and rural markets — underpinned by moderating inflation.
Over the outlook, Berry said Britannia's focus will remain on sustaining a healthy growth trajectory while protecting margins amid a heightened competitive landscape across product categories. "We aim to further reinforce our market leadership through continued investments in brand building and innovations," he said.
Hong Kong-based brokerage CLSA reiterated its 'outperform' tag, with a price target of Rs 5,973 per share. However, the broking house noted that the EBITDA margin contracted 136 basis points to 16.4 percent, which was 80 basis points below CLSA's estimate. It was also 130 basis points below Moneycontrol's estimate of 17.7 percent.
CLSA added that the absolute EBITDA was five percent under estimates, driven by higher-than-expected employee expenses.
Nomura decided to keep its 'neutral' call on Britannia Industries intact, with a price target of Rs 5,875 per share as the Q1 show was weaker-than-expected. The brokerage believes that volumes grew at two percent, below its forecast of 4.5 percent.
Morgan Stanley also reiterated its 'equal-weight' call, with a price target of Rs 5,511 per share. The EBITDA margin came sharply under its estimate of 17.8 percent.
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