Moneycontrol PRO
Upcoming Webinar:Watch a panel of experts discuss: Challenges of continuously evolving regulation for Cryptocurrency, on 7th July at 3pm. Register Now

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
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

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.



Outlook


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

Close

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies 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.

Broker Research
first published: May 22, 2022 06:09 pm
Sections
ISO 27001 - BSI Assurance Mark