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Buy Britannia Industries; target of Rs 3890: Geojit

Geojit is bullish on Britannia Industries has recommended buy rating on the stock with a target price of Rs 3890 in its research report dated May 19, 2022.

May 22, 2022 / 06:09 PM IST
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Geojit's research report on Britannia Industries

Britannia Industries Limited is a leading food-products company in India. The company sells various brands of confectionaries in India and globally. Q4FY22 sales was up 15.5% YoY to Rs. 3,508cr driven by volume growth. Britannia Industries Limited registered modest PAT growth of 4.3% in Q4FY22 reaching Rs. 380cr. EBITDA margin contracted by 90bps YoY to 15.7%, due to higher commodities prices. Inflationary pressure on input costs to weigh on company’s near-term performance. However, the efforts taken by management to handle the commodity price inflation will help to maintain profitability.


We reiterate our BUY rating on the stock with a revised target price of Rs. 3,890 based on 45x FY24E adj. EPS.


For all recommendations report, click here

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Broker Research
first published: May 22, 2022 06:09 pm
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