Britannia Industries share price in focus: Britannia Industries Limited reported a strong 21.1 per cent increase in profit to Rs 678 crore, up from Rs 560 crore in the same quarter a year ago. The company also recommended a final dividend of Rs 90.50 per equity share of face value of Rs 1 each for the financial year ended 31st March, 2026.
Following the Britannia Industries Q4 results, the brokerages, Nuvama Research and Nirmal Bang Institutional Research shared their outlook on this FMCG stock with the latest target price. Here’s why the brokerages are bullish.
Britannia Industries share price in focus: Nuvama Research on FMCG stock
Britannia Industries reported Q4FY26 revenue growth of 6.5 per cent YoY, in line with brokerage expectations but below consensus estimates.
The business witnessed 9 per cent growth during Jan-Feb; however, growth lowered in March due to supply disruptions in the International Business following the West Asia conflict.
EBITDA grew 6 per cent YoY, missing both our and Street estimates. Gross margin expanded 239 bps YoY to 41.7 per cent, though it declined 56 bps QoQ.
The brokerage firm further highlighted that the company’s EBITDA margin stood flat YoY at 18.1 per cent and contracted 189 bps QoQ. Other expenses increased 17.5 per cent YoY.
Britannia Industries share price in focus: Nirmal Bang on FMCG stock
The brokerage firm, Nirmal Bang Institutional Research, upgraded the stock to BUY with a TP of Rs 7,135 (21.5% upside to CMP), valuing the company at 53x Dec-26E EPS (10% premium to 10-year average EPS).
According to the brokerage, 3QFY26 results of BRIT were broadly in line with expectations on sales and volume growth, but EBITDA and PAT were 12 per cent ahead of expectations, led by gross margin beat as a result of benign material costs.
Management indicated that November and December sales growth accelerated to 12 per cent YoY after October was affected by continuing GST transition issues.
The brokerage has been structurally positive on packaged food companies because of:
a) addressable market size being much higher than other staples, with conversion from loose to packaged, packaged to branded, and branded to premium.
b) Better track record on topline compared to peers.
c) Manufacturing and distribution expansion already carried out, which can facilitate operating leverage once growth comes back.
In addition to this, the recent GST reduction has meant a faster pace of conversion from unorganised players; material costs are benign for the foreseeable future compared to the inflationary scenario in recent years.
The brokerage EPS growth forecasts over FY26-FY28E are at 14.3 per cent, substantially higher than the preceding five years, and ROEs are also likely to accelerate to the late 50 per cent level once the benefits of operating leverage come through.
Britannia Industries Q4 results
- In the last quarter of FY 2026-26, the company’s consolidated profit increased by 21.1% to Rs 678 crore, compared to Rs 560 crore in the same quarter a year ago.
- The company’s consolidated revenue increased by 6.5% year-on-year to Rs 4,719 crore, compared to Rs 4,432 crore in the same quarter last year.
- EBITDA increased by 5.9% to Rs 853 crore, compared to Rs 805 crore last year.
- However, EBITDA margin declined marginally to 18.1%, compared to 18.2% last year.
Britannia Industries dividend 2026
Recommended a Final dividend of Rs 90.50 per equity share of face value of 1 each for the financial year ended 31st March, 2026. The record date for the AGM and final dividend is Friday, 31st July 2026.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
