Moneycontrol PRO
LIVE NOW:Watch 'Sustainability 100+ Dialogues 2021-Maharashtra Roundtable' & know how the state is progressing on climate action

Buy Britannia Industries; target of Rs 3960: Geojit

Geojit is bullish on Britannia Industries has recommended buy rating on the stock with a target price of Rs 3960 in its research report dated October 22, 2020.

October 23, 2020 / 03:32 PM IST
  • bselive
  • nselive
Todays L/H

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. Revenue rose 11.0% YoY, led by higher sales of goods (~9% YoY), supported by higher demand from rural area. EBITDA grew 37.2% YoY, with EBITDA margin improving 380bps to 20.1%, owing to decline in raw material prices and lower advertisement and promotion expenses. Further, net profit surged 23.2% YoY to Rs. 499cr in Q2FY21. We remain positive on the stock on account of healthy volume growth, rising distribution network and new products launches. Separately, we believe there’ll be a smooth road ahead as lockdown has ended.


Hence, we upgrade rating to BUY on the stock, with a revised target price of Rs. 3,960 based on 46x FY22E adj EPS.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Oct 23, 2020 03:32 pm

stay updated

Get Daily News on your Browser
ISO 27001 - BSI Assurance Mark