Q4FY24 highlights: Company with Rs 40,232 crore revenue embraces data analytics and AI integration!
The stock has experienced significant buying activity, yielding returns of more than 11 per cent in the last one year.
Today, the shares of Britannia Industries Limited zoomed by 2.16 per cent. Furthermore, the scrip witnessed a spurt in volume by more than 2.23 times. The company's current market capitalization standing at 1,24,554.20 crore.
Stock performance:
On Tuesday, the stock opened at Rs 5065.60, with the previous closing being Rs 5061.60. The 52-week high and low are Rs 5,386.25 and Rs 4,349.95, respectively as per BSE.
Recent Development - Q4FY24 Highlights:
In the fourth quarter of FY23, Britannia Industries reported a revenue of Rs 40,232 crore, which increased to Rs 42,563 crore in the third quarter of FY24, before decreasing slightly to Rs 40,694 crore in the fourth quarter of FY24, representing a marginal year-on-year growth of 1.1 per cent.
Regarding EBITDA, the company recorded Rs 8,009 crore in the fourth quarter of FY23, which rose to Rs 8,211 crore in the third quarter of FY24, before declining to Rs 7,874 crore in the fourth quarter of FY24, resulting in a slight year-on-year decrease of 1.7 per cent.
In terms of net profit, Britannia Industries generated Rs 5,536 crore in the fourth quarter of FY23, which increased marginally to Rs 5,599 crore in the third quarter of FY24, before dropping to Rs 5,404 crore in the fourth quarter of FY24, indicating a year-on-year decline of 2.4 per cent.
Other highlights:
The company aims to unlock growth potential and enhance operational efficiency through the utilization of data analytics and AI. The previous implementation, RTM 1.0, initiated in 2014-15, restructured the sales force, which played a pivotal role in driving growth. Under the current iteration, RTM 2.0, the focus is on expanding adjacent business opportunities and optimizing service architecture.
With support from Bain & Co., the entire process is anticipated to span 12 months, with initial outcomes expected by the second half of FY25F. FY24 witnessed comparable volume and revenue growth, while FY25F anticipates improved volume growth post-general elections.
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About the Company:
Britannia Industries, a cornerstone of India's food industry with a century-long legacy, boasts annual revenues surpassing Rs 9000 crore. Renowned for its trustworthiness, Britannia manufactures beloved brands such as Good Day, Tiger, NutriChoice, Milk Bikis, and Marie Gold, all household names across India. Its diverse product lineup encompasses Biscuits, Bread, Cakes, Rusk, as well as Dairy products including Cheese, Beverages, Milk, and Yoghurt.
Furthermore, the stock has experienced significant buying activity, yielding returns of more than 11 per cent in the last one year.
Disclaimer: The article is for informational purposes only and not investment advice.