Buy Britannia Industries: Equity99

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Sumit BilgaiyanEquity99

Britannia Industries is one of India’s leading food companies with a 100 year legacy. It is among the most trusted food brands, and manufactures India’s favorite brands like Good Day, Tiger, NutriChoice, Milk Bikis and Marie Gold which are household names in India.

Company has posted strong numbers for Q2FY19. During Q2FY19, its net profit increased by 16.1% to 303 crore from 261.03 crore on YoY basis on 12.7% higher sales of Rs 2869.59 crore. EBITDA grew by 20.3% in Q2FY19 and EBITDA margin expanded by 100bps YoY to 15.8%. It’s PAT increased by 17.59% to Rs 561.11 crore in H1FY19.

September quarter was the fourth successive quarter of double digit volume growth for Company. It trades at PE ratio of 65.6x. We are recommending a buy in staggered manner for medium to long term.

Disclaimer: The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the websiteor its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.