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Buy Britannia Industries; target of Rs 4200: Sharekhan

Sharekhan is bullish on Britannia Industries has recommended buy rating on the stock with a target price of Rs 4200 in its research report dated July 17, 2020.

July 21, 2020 / 08:24 AM IST
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Sharekhan's research report on Britannia Industries

Q1FY2020 numbers were strong with revenues growing 26% and OPM stable at 21% (up 634 bps). PAT surged 110% led by strong operating performance, higher other income and lower tax incidence. Hindi-speaking belt performed well with double-digit revenue growth. Adjacent categories (including rusk, bread and cheese) clocked double-digit revenue growth and higher profitability. Sustained demand from in-house consumption and large shift towards branded products and better growth in the rural markets will help Britannia to maintain growth momentum. We have raised earnings estimates by 5% and 4%, respectively, for FY2021 and FY2022 to factor a strong improvement in OPM.


We maintain our Buy rating on stock with a revised price target of Rs. 4,200.

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: Jul 21, 2020 08:24 am

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