Recommends Dividend of 1000%
May 20, 17.51 PM IST || Pocket News Alert
New Delhi, May 20th, 2016: Britannia Industries Ltd. (BIL), India’s leading Food Company, reported Consolidated revenue growth (backed by double digit volume growths) of 8% in Q4 and 11% for the full year at Rs. 2,190 crores & Rs. 8,607 crores respectively. The growth for the quarter and full year was impacted by ~100 bps due to phasing out of Excise Duty incentives available to the Company.
Consolidated Profit from operations increased 28% in Q4 and 55% for the full year at Rs. 260 crores & Rs. 1,113 crores respectively. The Company accelerated its advertisement spends in Q4 through high impact association with Filmfare awards and Asia Cup T20. Consolidated Net Profit for the year stood at Rs. 806 crores, up by 43% from Rs. 565 Crs (excluding the one-time profit on sale of land & building of Rs. 124 crores (post-tax)) in the previous year .
The Board of Directors recommended a dividend of 1000% i.e. Rs. 20 / share.
# Net Profit - Excluding the one-time profit on sale of land & building in the previous year.
Commenting on the performance, Mr. Varun Berry, Managing Director, said,
“In an environment where FMCG growths were slow, our double digit volume & value growth is a vindication of our strategy to offer the best products under our world class brands and a clear focus on building a robust distribution throughout the country with thrust on rural and our weak states. We also focused on driving off take through re-stage of our brands and passing on the benefit of benign commodity prices to the consumer. Our focus on supply chain efficiencies, wastage reduction, accelerated cost efficiency program & soft commodity prices helped us expand our operating margin by 360 basis points during the year. We strengthened our back end with successful commissioning of two new factories in Tamilnadu & Karnataka and reinforced our Innovation capability with state of the art R&D centre in Bangalore. While the category growths are expected to remain subdued, we are confident of keeping our momentum going."