Britannia Industries Ltd.
•2026-08-21
PROS
- Company has a good return on equity (ROE) track record: 3 Years ROE 59.9%
- Company has a healthy return on capital (ROCE) of 56.8%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.05x)
- Company has a consistent dividend-paying track record
- Company comfortably covers its interest (30.7x coverage)
- Company generates healthy free cash flow
CONS
- Stock is trading at 28.2x its book value
- Company has delivered a poor profit growth of 7.8% over past five years
- Recurring exceptional / one-off items are inflating headline profit
- Expensive relative to growth - PEG of 8.2
- Rich enterprise valuation - EV/EBITDA of 35.6x
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | NESTLEIND | 1456.65 | 73.70 | 280887.91 | 0.82 | 9586.80 | 1382.67 | 63781.80 | 1157.04 | 98.35 | 23.86 |
| 2. | VBL | 438.00 | 43.75 | 148151.96 | 0.34 | 1525.36 | 15.08 | 8650.57 | 20.77 | 20.73 | 27.04 |
| 3. | BRITANNIA | 5549.00 | 51.33 | 133657.82 | 1.63 | 593.38 | 14.08 | 4999.97 | 10.26 | 56.48 | 16.77 |
| 4. | JUBLFOOD | 507.90 | 77.23 | 33513.54 | 0.24 | 100.03 | 6.03 | 2569.65 | 13.66 | 25.56 | 19.77 |
| 5. | HATSUN | 964.45 | 61.68 | 21482.96 | 1.66 | 60.58 | — | 2363.72 | 17.61 | 14.60 | 10.81 |
| 6. | DEVYANI | 147.70 | 0.00 | 18210.52 | 0.00 | 171.04 | 7576.84 | 15805.16 | 1064.74 | 8.98 | 16.09 |
| 7. | ZYDUSWELL | 501.60 | 84.80 | 15958.94 | 0.24 | 118.90 | -7.04 | 1437.00 | 67.54 | 4.42 | 16.82 |
| 8. | BIKAJI | 606.50 | 58.83 | 15207.16 | 0.21 | 59.47 | 1.62 | 734.26 | 15.26 | 21.65 | 13.48 |
| 9. | LTFOODS | 430.80 | 23.36 | 14959.66 | 0.70 | 183.45 | 8.87 | 3151.83 | 27.92 | 21.42 | 11.26 |
| 10. | MILKYMIST | 184.25 | 111.68 | 14184.36 | 0.00 | — | — | — | — | 13.79 | — |
| 11. | MANORAMA | 1957.75 | 50.10 | 12357.79 | 0.04 | 78.66 | 67.55 | 404.01 | 39.53 | 19.70 | 26.29 |
| 12. | KWIL | 43.47 | 0.00 | 10213.67 | 0.00 | 50.70 | 354.77 | 878.30 | 99.34 | — | 11.77 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,824 | 4,220 | 4,031 | 3,863 | 3,967 | 4,392 | 4,281 | 4,219 | 4,358 | 4,568 | 4,682 | 4,512 | 4,834 | |
| 3,204 | 3,448 | 3,310 | 3,154 | 3,366 | 3,755 | 3,608 | 3,504 | 3,732 | 3,750 | 3,841 | 3,732 | 4,114 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 52 | 53 | 50 | 55 | 67 | 52 | 60 | 72 | 54 | 110 | 93 | 61 | 59 |
| Interest | 48 | 48 | 29 | 26 | 29 | 34 | 44 | 30 | 26 | 34 | 33 | 18 | 22 |
| Depreciation | 63 | 64 | 71 | 73 | 67 | 69 | 75 | 74 | 75 | 78 | 76 | 77 | 71 |
| 607 | 782 | 740 | 727 | 676 | 695 | 751 | 746 | 674 | 913 | 919 | 788 | 779 | |
| Tax % | 27.02% | 27.02% | 27.21% | 27.08% | 25.69% | 25.97% | 25.81% | 25.36% | 26.09% | 24.41% | 25.12% | 12.97% | 26.00% |
| Net Profit | 443 | 570 | 538 | 530 | 502 | 514 | 557 | 557 | 498 | 690 | 688 | 685 | 576 |
| 18 | 24 | 22 | 22 | 21 | 21 | 23 | 23 | 21 | 29 | 29 | 28 | 2 | |
| Equity Capital | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
- 3,824
- 3,204
- Operating Profit
- —
- OPM %
- —
- Other Income
- 52
- Interest
- 48
- Depreciation
- 63
- 607
- Tax %
- 27.02%
- Net Profit
- 443
- 18
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,220
- 3,448
- Operating Profit
- —
- OPM %
- —
- Other Income
- 53
- Interest
- 48
- Depreciation
- 64
- 782
- Tax %
- 27.02%
- Net Profit
- 570
- 24
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,031
- 3,310
- Operating Profit
- —
- OPM %
- —
- Other Income
- 50
- Interest
- 29
- Depreciation
- 71
- 740
- Tax %
- 27.21%
- Net Profit
- 538
- 22
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 3,863
- 3,154
- Operating Profit
- —
- OPM %
- —
- Other Income
- 55
- Interest
- 26
- Depreciation
- 73
- 727
- Tax %
- 27.08%
- Net Profit
- 530
- 22
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 3,967
- 3,366
- Operating Profit
- —
- OPM %
- —
- Other Income
- 67
- Interest
- 29
- Depreciation
- 67
- 676
- Tax %
- 25.69%
- Net Profit
- 502
- 21
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,392
- 3,755
- Operating Profit
- —
- OPM %
- —
- Other Income
- 52
- Interest
- 34
- Depreciation
- 69
- 695
- Tax %
- 25.97%
- Net Profit
- 514
- 21
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,281
- 3,608
- Operating Profit
- —
- OPM %
- —
- Other Income
- 60
- Interest
- 44
- Depreciation
- 75
- 751
- Tax %
- 25.81%
- Net Profit
- 557
- 23
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,219
- 3,504
- Operating Profit
- —
- OPM %
- —
- Other Income
- 72
- Interest
- 30
- Depreciation
- 74
- 746
- Tax %
- 25.36%
- Net Profit
- 557
- 23
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,358
- 3,732
- Operating Profit
- —
- OPM %
- —
- Other Income
- 54
- Interest
- 26
- Depreciation
- 75
- 674
- Tax %
- 26.09%
- Net Profit
- 498
- 21
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,568
- 3,750
- Operating Profit
- —
- OPM %
- —
- Other Income
- 110
- Interest
- 34
- Depreciation
- 78
- 913
- Tax %
- 24.41%
- Net Profit
- 690
- 29
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,682
- 3,841
- Operating Profit
- —
- OPM %
- —
- Other Income
- 93
- Interest
- 33
- Depreciation
- 76
- 919
- Tax %
- 25.12%
- Net Profit
- 688
- 29
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,512
- 3,732
- Operating Profit
- —
- OPM %
- —
- Other Income
- 61
- Interest
- 18
- Depreciation
- 77
- 788
- Tax %
- 12.97%
- Net Profit
- 685
- 28
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,834
- 4,114
- Operating Profit
- —
- OPM %
- —
- Other Income
- 59
- Interest
- 22
- Depreciation
- 71
- 779
- Tax %
- 26.00%
- Net Profit
- 576
- 2
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 24
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 8,414 | 9,304 | 10,482 | 10,987 | 12,379 | 13,372 | 15,618 | 16,186 | 17,296 | 18,446 | 18,595 | |
| 7,210 | 7,894 | 8,847 | 9,221 | 10,028 | 11,282 | 12,918 | 13,115 | 14,232 | 15,055 | 15,437 | |
| Operating Profit | 1,349 | 1,566 | 1,853 | 2,106 | 2,644 | 2,449 | 2,962 | 3,281 | 3,314 | 3,709 | — |
| OPM % | 16 | 17 | 18 | 19 | 21 | 18 | 19 | 20 | 19 | 20 | — |
| Other Income | 145 | 156 | 217 | 341 | 293 | 359 | 262 | 210 | 251 | 318 | 324 |
| Interest | 1 | 1 | 2 | 65 | 98 | 133 | 155 | 151 | 137 | 111 | 107 |
| Depreciation | 96 | 120 | 135 | 152 | 167 | 170 | 195 | 271 | 285 | 305 | 301 |
| 1,251 | 1,445 | 1,716 | 1,908 | 2,379 | 2,145 | 2,840 | 2,855 | 2,868 | 3,293 | 3,398 | |
| Tax % | 33 | 34 | 35 | 22 | 26 | 25 | 25 | 27 | 26 | 22 | 22 |
| Net Profit | 844 | 948 | 1,122 | 1,484 | 1,760 | 1,603 | 2,139 | 2,082 | 2,131 | 2,562 | 2,640 |
| EPS | 70 | 39 | 47 | 62 | 73 | 67 | 89 | 86 | 88 | 106 | — |
| Dividend Payout % | 31 | 32 | 32 | 57 | 216 | 85 | 81 | 85 | 85 | 85 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 35 | 39 | 47 | 62 | 73 | 67 | 89 | 86 | 88 | 106 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 35 | 39 | 47 | 62 | 73 | 67 | 89 | 86 | 88 | 106 | — |
- 8,414
- 7,210
- Operating Profit
- 1,349
- OPM %
- 16
- Other Income
- 145
- Interest
- 1
- Depreciation
- 96
- 1,251
- Tax %
- 33
- Net Profit
- 844
- EPS
- 70
- Dividend Payout %
- 31
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 35
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 35
- 9,304
- 7,894
- Operating Profit
- 1,566
- OPM %
- 17
- Other Income
- 156
- Interest
- 1
- Depreciation
- 120
- 1,445
- Tax %
- 34
- Net Profit
- 948
- EPS
- 39
- Dividend Payout %
- 32
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 39
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 39
- 10,482
- 8,847
- Operating Profit
- 1,853
- OPM %
- 18
- Other Income
- 217
- Interest
- 2
- Depreciation
- 135
- 1,716
- Tax %
- 35
- Net Profit
- 1,122
- EPS
- 47
- Dividend Payout %
- 32
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 47
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 47
- 10,987
- 9,221
- Operating Profit
- 2,106
- OPM %
- 19
- Other Income
- 341
- Interest
- 65
- Depreciation
- 152
- 1,908
- Tax %
- 22
- Net Profit
- 1,484
- EPS
- 62
- Dividend Payout %
- 57
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 62
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 62
- 12,379
- 10,028
- Operating Profit
- 2,644
- OPM %
- 21
- Other Income
- 293
- Interest
- 98
- Depreciation
- 167
- 2,379
- Tax %
- 26
- Net Profit
- 1,760
- EPS
- 73
- Dividend Payout %
- 216
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 73
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 73
- 13,372
- 11,282
- Operating Profit
- 2,449
- OPM %
- 18
- Other Income
- 359
- Interest
- 133
- Depreciation
- 170
- 2,145
- Tax %
- 25
- Net Profit
- 1,603
- EPS
- 67
- Dividend Payout %
- 85
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 67
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 67
- 15,618
- 12,918
- Operating Profit
- 2,962
- OPM %
- 19
- Other Income
- 262
- Interest
- 155
- Depreciation
- 195
- 2,840
- Tax %
- 25
- Net Profit
- 2,139
- EPS
- 89
- Dividend Payout %
- 81
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 89
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 89
- 16,186
- 13,115
- Operating Profit
- 3,281
- OPM %
- 20
- Other Income
- 210
- Interest
- 151
- Depreciation
- 271
- 2,855
- Tax %
- 27
- Net Profit
- 2,082
- EPS
- 86
- Dividend Payout %
- 85
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 86
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 86
- 17,296
- 14,232
- Operating Profit
- 3,314
- OPM %
- 19
- Other Income
- 251
- Interest
- 137
- Depreciation
- 285
- 2,868
- Tax %
- 26
- Net Profit
- 2,131
- EPS
- 88
- Dividend Payout %
- 85
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 88
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 88
- 18,446
- 15,055
- Operating Profit
- 3,709
- OPM %
- 20
- Other Income
- 318
- Interest
- 111
- Depreciation
- 305
- 3,293
- Tax %
- 22
- Net Profit
- 2,562
- EPS
- 106
- Dividend Payout %
- 85
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 106
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 106
- 18,595
- 15,437
- Operating Profit
- —
- OPM %
- —
- Other Income
- 324
- Interest
- 107
- Depreciation
- 301
- 3,398
- Tax %
- 22
- Net Profit
- 2,640
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 9%
- 5 Years:
- 8%
- 3 Years:
- 6%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 13%
- 5 Years:
- 8%
- 3 Years:
- 6%
STOCK PRICE CAGR
- 10 Years:
- 12%
- 5 Years:
- 7%
- 3 Years:
- 6%
- 1 Year:
- -4%
RETURN ON EQUITY
- 10 Years:
- 50%
- 5 Years:
- 63%
- 3 Years:
- 60%
- Last Year:
- 60%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 |
| 2,552 | 3,200 | 3,995 | 4,216 | 3,267 | 2,378 | 3,157 | 3,503 | 3,862 | 4,617 | |
| 0 | 9 | 0 | 480 | 1,076 | 759 | 1,006 | 985 | 312 | 634 | |
| Trade Payables | 644 | 866 | 1,033 | 887 | 1,190 | 1,194 | 1,309 | 1,513 | 1,592 | 1,782 |
| 470 | 519 | 601 | 1,646 | 1,859 | 2,619 | 3,094 | 2,310 | 2,199 | 1,848 | |
| Total Liabilities | 3,690 | 4,619 | 5,653 | 7,253 | 7,416 | 6,974 | 8,590 | 8,335 | 7,991 | 8,905 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 824 | 1,016 | 1,291 | 1,424 | 1,369 | 1,343 | 2,233 | 2,374 | 2,515 | 2,430 | |
| Capital Work in Progress | 30 | 200 | 65 | 39 | 112 | 535 | 104 | 187 | 82 | 38 |
| 600 | 1,186 | 1,646 | 3,141 | 2,950 | 2,024 | 3,324 | 2,771 | 2,872 | 3,684 | |
| 603 | 595 | 719 | 634 | 991 | 1,252 | 1,075 | 1,075 | 1,129 | 1,220 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 347 | 380 | 405 | |
| Cash & Bank | 54 | 97 | 40 | 39 | 111 | 52 | 64 | 298 | 106 | 91 |
| 1,580 | 1,524 | 1,892 | 1,976 | 1,883 | 1,768 | 1,791 | 1,283 | 907 | 1,037 | |
| Total Assets | 3,690 | 4,619 | 5,653 | 7,253 | 7,416 | 6,974 | 8,590 | 8,335 | 7,991 | 8,905 |
| Total Debt | 1 | 10 | 1 | 1,203 | 1,797 | 2,178 | 2,662 | 2,037 | 1,217 | 1,346 |
| Net Working Capital | 915 | 1,401 | 1,488 | 990 | 692 | -256 | 543 | 640 | 88 | 247 |
| Contingent Liabilities | 104 | 70 | 111 | 107 | 141 | 118 | 90 | 138 | 62 | 109 |
| Book Value per Share | 214.67 | 268.54 | 167.27 | 176.31 | 136.63 | 99.73 | 132.05 | 146.43 | 161.33 | 192.66 |
| Face Value | 2.00 | 2.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Total Debt | 1 | 10 | 1 | 1,203 | 1,797 | 2,178 | 2,662 | 2,037 | 1,217 | 1,346 |
| Net Working Capital | 915 | 1,401 | 1,488 | 990 | 692 | -256 | 543 | 640 | 88 | 247 |
| Contingent Liabilities | 104 | 70 | 111 | 107 | 141 | 118 | 90 | 138 | 62 | 109 |
| Book Value per Share | 214.67 | 268.54 | 167.27 | 176.31 | 136.63 | 99.73 | 132.05 | 146.43 | 161.33 | 192.66 |
| Face Value | 2.00 | 2.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
- Equity Capital
- 24
- 2,552
- 0
- Trade Payables
- 644
- 470
- Total Liabilities
- 3,690
- 824
- Capital Work in Progress
- 30
- 600
- 603
- 0
- Cash & Bank
- 54
- 1,580
- Total Assets
- 3,690
- Total Debt
- 1
- Net Working Capital
- 915
- Contingent Liabilities
- 104
- Book Value per Share
- 214.67
- Face Value
- 2.00
- Total Debt
- 1
- Net Working Capital
- 915
- Contingent Liabilities
- 104
- Book Value per Share
- 214.67
- Face Value
- 2.00
- Equity Capital
- 24
- 3,200
- 9
- Trade Payables
- 866
- 519
- Total Liabilities
- 4,619
- 1,016
- Capital Work in Progress
- 200
- 1,186
- 595
- 0
- Cash & Bank
- 97
- 1,524
- Total Assets
- 4,619
- Total Debt
- 10
- Net Working Capital
- 1,401
- Contingent Liabilities
- 70
- Book Value per Share
- 268.54
- Face Value
- 2.00
- Total Debt
- 10
- Net Working Capital
- 1,401
- Contingent Liabilities
- 70
- Book Value per Share
- 268.54
- Face Value
- 2.00
- Equity Capital
- 24
- 3,995
- 0
- Trade Payables
- 1,033
- 601
- Total Liabilities
- 5,653
- 1,291
- Capital Work in Progress
- 65
- 1,646
- 719
- 0
- Cash & Bank
- 40
- 1,892
- Total Assets
- 5,653
- Total Debt
- 1
- Net Working Capital
- 1,488
- Contingent Liabilities
- 111
- Book Value per Share
- 167.27
- Face Value
- 1.00
- Total Debt
- 1
- Net Working Capital
- 1,488
- Contingent Liabilities
- 111
- Book Value per Share
- 167.27
- Face Value
- 1.00
- Equity Capital
- 24
- 4,216
- 480
- Trade Payables
- 887
- 1,646
- Total Liabilities
- 7,253
- 1,424
- Capital Work in Progress
- 39
- 3,141
- 634
- 0
- Cash & Bank
- 39
- 1,976
- Total Assets
- 7,253
- Total Debt
- 1,203
- Net Working Capital
- 990
- Contingent Liabilities
- 107
- Book Value per Share
- 176.31
- Face Value
- 1.00
- Total Debt
- 1,203
- Net Working Capital
- 990
- Contingent Liabilities
- 107
- Book Value per Share
- 176.31
- Face Value
- 1.00
- Equity Capital
- 24
- 3,267
- 1,076
- Trade Payables
- 1,190
- 1,859
- Total Liabilities
- 7,416
- 1,369
- Capital Work in Progress
- 112
- 2,950
- 991
- 0
- Cash & Bank
- 111
- 1,883
- Total Assets
- 7,416
- Total Debt
- 1,797
- Net Working Capital
- 692
- Contingent Liabilities
- 141
- Book Value per Share
- 136.63
- Face Value
- 1.00
- Total Debt
- 1,797
- Net Working Capital
- 692
- Contingent Liabilities
- 141
- Book Value per Share
- 136.63
- Face Value
- 1.00
- Equity Capital
- 24
- 2,378
- 759
- Trade Payables
- 1,194
- 2,619
- Total Liabilities
- 6,974
- 1,343
- Capital Work in Progress
- 535
- 2,024
- 1,252
- 0
- Cash & Bank
- 52
- 1,768
- Total Assets
- 6,974
- Total Debt
- 2,178
- Net Working Capital
- -256
- Contingent Liabilities
- 118
- Book Value per Share
- 99.73
- Face Value
- 1.00
- Total Debt
- 2,178
- Net Working Capital
- -256
- Contingent Liabilities
- 118
- Book Value per Share
- 99.73
- Face Value
- 1.00
- Equity Capital
- 24
- 3,157
- 1,006
- Trade Payables
- 1,309
- 3,094
- Total Liabilities
- 8,590
- 2,233
- Capital Work in Progress
- 104
- 3,324
- 1,075
- 0
- Cash & Bank
- 64
- 1,791
- Total Assets
- 8,590
- Total Debt
- 2,662
- Net Working Capital
- 543
- Contingent Liabilities
- 90
- Book Value per Share
- 132.05
- Face Value
- 1.00
- Total Debt
- 2,662
- Net Working Capital
- 543
- Contingent Liabilities
- 90
- Book Value per Share
- 132.05
- Face Value
- 1.00
- Equity Capital
- 24
- 3,503
- 985
- Trade Payables
- 1,513
- 2,310
- Total Liabilities
- 8,335
- 2,374
- Capital Work in Progress
- 187
- 2,771
- 1,075
- 347
- Cash & Bank
- 298
- 1,283
- Total Assets
- 8,335
- Total Debt
- 2,037
- Net Working Capital
- 640
- Contingent Liabilities
- 138
- Book Value per Share
- 146.43
- Face Value
- 1.00
- Total Debt
- 2,037
- Net Working Capital
- 640
- Contingent Liabilities
- 138
- Book Value per Share
- 146.43
- Face Value
- 1.00
- Equity Capital
- 24
- 3,862
- 312
- Trade Payables
- 1,592
- 2,199
- Total Liabilities
- 7,991
- 2,515
- Capital Work in Progress
- 82
- 2,872
- 1,129
- 380
- Cash & Bank
- 106
- 907
- Total Assets
- 7,991
- Total Debt
- 1,217
- Net Working Capital
- 88
- Contingent Liabilities
- 62
- Book Value per Share
- 161.33
- Face Value
- 1.00
- Total Debt
- 1,217
- Net Working Capital
- 88
- Contingent Liabilities
- 62
- Book Value per Share
- 161.33
- Face Value
- 1.00
- Equity Capital
- 24
- 4,617
- 634
- Trade Payables
- 1,782
- 1,848
- Total Liabilities
- 8,905
- 2,430
- Capital Work in Progress
- 38
- 3,684
- 1,220
- 405
- Cash & Bank
- 91
- 1,037
- Total Assets
- 8,905
- Total Debt
- 1,346
- Net Working Capital
- 247
- Contingent Liabilities
- 109
- Book Value per Share
- 192.66
- Face Value
- 1.00
- Total Debt
- 1,346
- Net Working Capital
- 247
- Contingent Liabilities
- 109
- Book Value per Share
- 192.66
- Face Value
- 1.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 402 | 1,183 | 1,114 | 1,660 | 1,792 | 1,206 | 2,442 | 2,234 | 2,366 | 2,547 | |
| Cash from Investing | -115 | -823 | -831 | -1,568 | 486 | 931 | -1,386 | 508 | 183 | -782 |
| Cash from Financing | -284 | -304 | -326 | -94 | -2,222 | -2,212 | -1,048 | -2,510 | -2,751 | -1,782 |
| 3 | 56 | -44 | -3 | 56 | -75 | 8 | 232 | -203 | -17 | |
| Free Cash Flow | 163 | 700 | 848 | 1,405 | 1,614 | 656 | 1,803 | 1,750 | 2,089 | 2,391 |
| OCF / Net Profit | 0.48 | 1.25 | 0.99 | 1.12 | 1.02 | 0.75 | 1.14 | 1.07 | 1.11 | 0.99 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 4,731 | 5,224 | 6,327 | 7,229 | 7,912 | 8,690 |
| OCF / Net Profit | 0.48 | 1.25 | 0.99 | 1.12 | 1.02 | 0.75 | 1.14 | 1.07 | 1.11 | 0.99 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 4,731 | 5,224 | 6,327 | 7,229 | 7,912 | 8,690 |
- 402
- Cash from Investing
- -115
- Cash from Financing
- -284
- 3
- Free Cash Flow
- 163
- OCF / Net Profit
- 0.48
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.48
- Cumulative 5-Year FCF
- 0
- 1,183
- Cash from Investing
- -823
- Cash from Financing
- -304
- 56
- Free Cash Flow
- 700
- OCF / Net Profit
- 1.25
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.25
- Cumulative 5-Year FCF
- 0
- 1,114
- Cash from Investing
- -831
- Cash from Financing
- -326
- -44
- Free Cash Flow
- 848
- OCF / Net Profit
- 0.99
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.99
- Cumulative 5-Year FCF
- 0
- 1,660
- Cash from Investing
- -1,568
- Cash from Financing
- -94
- -3
- Free Cash Flow
- 1,405
- OCF / Net Profit
- 1.12
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.12
- Cumulative 5-Year FCF
- 0
- 1,792
- Cash from Investing
- 486
- Cash from Financing
- -2,222
- 56
- Free Cash Flow
- 1,614
- OCF / Net Profit
- 1.02
- Cumulative 5-Year FCF
- 4,731
- OCF / Net Profit
- 1.02
- Cumulative 5-Year FCF
- 4,731
- 1,206
- Cash from Investing
- 931
- Cash from Financing
- -2,212
- -75
- Free Cash Flow
- 656
- OCF / Net Profit
- 0.75
- Cumulative 5-Year FCF
- 5,224
- OCF / Net Profit
- 0.75
- Cumulative 5-Year FCF
- 5,224
- 2,442
- Cash from Investing
- -1,386
- Cash from Financing
- -1,048
- 8
- Free Cash Flow
- 1,803
- OCF / Net Profit
- 1.14
- Cumulative 5-Year FCF
- 6,327
- OCF / Net Profit
- 1.14
- Cumulative 5-Year FCF
- 6,327
- 2,234
- Cash from Investing
- 508
- Cash from Financing
- -2,510
- 232
- Free Cash Flow
- 1,750
- OCF / Net Profit
- 1.07
- Cumulative 5-Year FCF
- 7,229
- OCF / Net Profit
- 1.07
- Cumulative 5-Year FCF
- 7,229
- 2,366
- Cash from Investing
- 183
- Cash from Financing
- -2,751
- -203
- Free Cash Flow
- 2,089
- OCF / Net Profit
- 1.11
- Cumulative 5-Year FCF
- 7,912
- OCF / Net Profit
- 1.11
- Cumulative 5-Year FCF
- 7,912
- 2,547
- Cash from Investing
- -782
- Cash from Financing
- -1,782
- -17
- Free Cash Flow
- 2,391
- OCF / Net Profit
- 0.99
- Cumulative 5-Year FCF
- 8,690
- OCF / Net Profit
- 0.99
- Cumulative 5-Year FCF
- 8,690
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 70.31 | 78.96 | 46.70 | 61.72 | 73.06 | 66.55 | 88.80 | 86.43 | 88.45 | 106.34 |
| Book Value (₹) | 214.67 | 268.54 | 167.27 | 176.31 | 136.63 | 99.73 | 132.05 | 146.43 | 161.33 | 192.66 |
| Dividend per Share (₹) | 22.00 | 25.00 | 15.00 | 35.00 | 157.50 | 56.50 | 72.00 | 73.50 | 75.00 | 90.50 |
| Cash EPS (₹) | 39.17 | 44.47 | 52.32 | 68.02 | 79.98 | 73.61 | 96.90 | 97.69 | 100.27 | 119.01 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 15.53% | 16.02% | 16.83% | 18.21% | 20.45% | 17.55% | 18.16% | 18.09% | 16.91% | 17.38% |
| Net Margin % | 9.72% | 9.69% | 10.19% | 12.83% | 13.61% | 11.49% | 13.11% | 12.26% | 11.76% | 13.13% |
| ROE % | 36.76% | 32.69% | 30.99% | 35.94% | 46.74% | 56.31% | 76.63% | 62.07% | 57.48% | 60.08% |
| ROCE % | 54.46% | 49.65% | 47.16% | 41.47% | 46.77% | 47.00% | 57.47% | 52.72% | 56.34% | 61.39% |
| 24.94% | 22.82% | 21.85% | 23.00% | 24.00% | 22.28% | 27.49% | 24.60% | 26.10% | 30.32% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 5 | 7 | 10 | 9 | 6 | 6 | 6 | 7 | 7 | 7 |
| Inventory Days | 21 | 22 | 22 | 21 | 23 | 29 | 26 | 23 | 22 | 22 |
| Payable Days | 45 | 48 | 55 | 53 | 51 | 51 | 48 | 55 | 54 | 56 |
| -20 | -19 | -24 | -22 | -22 | -16 | -16 | -25 | -24 | -26 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.00x | 0.00x | 0.00x | 0.28x | 0.55x | 0.91x | 0.84x | 0.58x | 0.31x | 0.29x |
| Interest Coverage (x) | 934.70x | 997.69x | 1115.36x | 30.28x | 25.33x | 17.07x | 19.33x | 19.86x | 21.92x | 30.72x |
| 1.84x | 2.03x | 1.94x | 1.45x | 1.21x | 0.93x | 1.14x | 1.17x | 1.03x | 1.06x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 8.83% | 10.57% | 12.67% | 4.81% | 12.67% | 8.02% | 16.80% | 3.63% | 6.86% | 6.65% |
| Operating Profit Growth % | 8.95% | 16.12% | 18.27% | 13.68% | 25.54% | -7.39% | 20.98% | 10.75% | 1.02% | 11.92% |
| Net Profit Growth % | 10.53% | 12.35% | 18.39% | 32.27% | 18.58% | -8.91% | 33.44% | -2.68% | 2.34% | 20.23% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -2.68% | 2.34% | 20.23% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 56.84x | 55.82x | 51.03x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 33.55x | 30.60x | 28.17x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.50% | 1.52% | 1.67% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 36.60x | 36.22x | 35.58x |
- EPS (₹)
- 70.31
- Book Value (₹)
- 214.67
- Dividend per Share (₹)
- 22.00
- Cash EPS (₹)
- 39.17
- Operating Margin %
- 15.53%
- Net Margin %
- 9.72%
- ROE %
- 36.76%
- ROCE %
- 54.46%
- 24.94%
- Debtor Days
- 5
- Inventory Days
- 21
- Payable Days
- 45
- -20
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 934.70x
- 1.84x
- Revenue Growth %
- 8.83%
- Operating Profit Growth %
- 8.95%
- Net Profit Growth %
- 10.53%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 78.96
- Book Value (₹)
- 268.54
- Dividend per Share (₹)
- 25.00
- Cash EPS (₹)
- 44.47
- Operating Margin %
- 16.02%
- Net Margin %
- 9.69%
- ROE %
- 32.69%
- ROCE %
- 49.65%
- 22.82%
- Debtor Days
- 7
- Inventory Days
- 22
- Payable Days
- 48
- -19
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 997.69x
- 2.03x
- Revenue Growth %
- 10.57%
- Operating Profit Growth %
- 16.12%
- Net Profit Growth %
- 12.35%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 46.70
- Book Value (₹)
- 167.27
- Dividend per Share (₹)
- 15.00
- Cash EPS (₹)
- 52.32
- Operating Margin %
- 16.83%
- Net Margin %
- 10.19%
- ROE %
- 30.99%
- ROCE %
- 47.16%
- 21.85%
- Debtor Days
- 10
- Inventory Days
- 22
- Payable Days
- 55
- -24
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 1115.36x
- 1.94x
- Revenue Growth %
- 12.67%
- Operating Profit Growth %
- 18.27%
- Net Profit Growth %
- 18.39%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 61.72
- Book Value (₹)
- 176.31
- Dividend per Share (₹)
- 35.00
- Cash EPS (₹)
- 68.02
- Operating Margin %
- 18.21%
- Net Margin %
- 12.83%
- ROE %
- 35.94%
- ROCE %
- 41.47%
- 23.00%
- Debtor Days
- 9
- Inventory Days
- 21
- Payable Days
- 53
- -22
- Debt to Equity (x)
- 0.28x
- Interest Coverage (x)
- 30.28x
- 1.45x
- Revenue Growth %
- 4.81%
- Operating Profit Growth %
- 13.68%
- Net Profit Growth %
- 32.27%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 73.06
- Book Value (₹)
- 136.63
- Dividend per Share (₹)
- 157.50
- Cash EPS (₹)
- 79.98
- Operating Margin %
- 20.45%
- Net Margin %
- 13.61%
- ROE %
- 46.74%
- ROCE %
- 46.77%
- 24.00%
- Debtor Days
- 6
- Inventory Days
- 23
- Payable Days
- 51
- -22
- Debt to Equity (x)
- 0.55x
- Interest Coverage (x)
- 25.33x
- 1.21x
- Revenue Growth %
- 12.67%
- Operating Profit Growth %
- 25.54%
- Net Profit Growth %
- 18.58%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 66.55
- Book Value (₹)
- 99.73
- Dividend per Share (₹)
- 56.50
- Cash EPS (₹)
- 73.61
- Operating Margin %
- 17.55%
- Net Margin %
- 11.49%
- ROE %
- 56.31%
- ROCE %
- 47.00%
- 22.28%
- Debtor Days
- 6
- Inventory Days
- 29
- Payable Days
- 51
- -16
- Debt to Equity (x)
- 0.91x
- Interest Coverage (x)
- 17.07x
- 0.93x
- Revenue Growth %
- 8.02%
- Operating Profit Growth %
- -7.39%
- Net Profit Growth %
- -8.91%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 88.80
- Book Value (₹)
- 132.05
- Dividend per Share (₹)
- 72.00
- Cash EPS (₹)
- 96.90
- Operating Margin %
- 18.16%
- Net Margin %
- 13.11%
- ROE %
- 76.63%
- ROCE %
- 57.47%
- 27.49%
- Debtor Days
- 6
- Inventory Days
- 26
- Payable Days
- 48
- -16
- Debt to Equity (x)
- 0.84x
- Interest Coverage (x)
- 19.33x
- 1.14x
- Revenue Growth %
- 16.80%
- Operating Profit Growth %
- 20.98%
- Net Profit Growth %
- 33.44%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 86.43
- Book Value (₹)
- 146.43
- Dividend per Share (₹)
- 73.50
- Cash EPS (₹)
- 97.69
- Operating Margin %
- 18.09%
- Net Margin %
- 12.26%
- ROE %
- 62.07%
- ROCE %
- 52.72%
- 24.60%
- Debtor Days
- 7
- Inventory Days
- 23
- Payable Days
- 55
- -25
- Debt to Equity (x)
- 0.58x
- Interest Coverage (x)
- 19.86x
- 1.17x
- Revenue Growth %
- 3.63%
- Operating Profit Growth %
- 10.75%
- Net Profit Growth %
- -2.68%
- -2.68%
- P/E (x)
- 56.84x
- P/B (x)
- 33.55x
- Dividend Yield %
- 1.50%
- 36.60x
- EPS (₹)
- 88.45
- Book Value (₹)
- 161.33
- Dividend per Share (₹)
- 75.00
- Cash EPS (₹)
- 100.27
- Operating Margin %
- 16.91%
- Net Margin %
- 11.76%
- ROE %
- 57.48%
- ROCE %
- 56.34%
- 26.10%
- Debtor Days
- 7
- Inventory Days
- 22
- Payable Days
- 54
- -24
- Debt to Equity (x)
- 0.31x
- Interest Coverage (x)
- 21.92x
- 1.03x
- Revenue Growth %
- 6.86%
- Operating Profit Growth %
- 1.02%
- Net Profit Growth %
- 2.34%
- 2.34%
- P/E (x)
- 55.82x
- P/B (x)
- 30.60x
- Dividend Yield %
- 1.52%
- 36.22x
- EPS (₹)
- 106.34
- Book Value (₹)
- 192.66
- Dividend per Share (₹)
- 90.50
- Cash EPS (₹)
- 119.01
- Operating Margin %
- 17.38%
- Net Margin %
- 13.13%
- ROE %
- 60.08%
- ROCE %
- 61.39%
- 30.32%
- Debtor Days
- 7
- Inventory Days
- 22
- Payable Days
- 56
- -26
- Debt to Equity (x)
- 0.29x
- Interest Coverage (x)
- 30.72x
- 1.06x
- Revenue Growth %
- 6.65%
- Operating Profit Growth %
- 11.92%
- Net Profit Growth %
- 20.23%
- 20.23%
- P/E (x)
- 51.03x
- P/B (x)
- 28.17x
- Dividend Yield %
- 1.67%
- 35.58x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-21 - With reference to the subject cited above and our letter dated 11th August, 2026 regarding the Schedule of Analysts/Institutional Investors Meets, this is to inform you that the one-to-one Meeting with Motilal Oswal Financial Services Limited, which was scheduled to be held on Tuesday, 25th August, 2026 at 12:15 P.M. IST at Bengaluru, has been rescheduled to Thursday, 27th August, 2026 at 2:00 P.M. IST at Mumbai.
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-14 - With reference to the subject cited above and our letter dated 11th August, 2026 regarding the Schedule of Analysts/Institutional Investors Meets, this is to inform you that the one-to-one Meeting with Enam Asset Management Company Private Limited, which was scheduled to be held on Monday, 17th August, 2026 at 12:00 P.M. IST through Video Conference, has been rescheduled at 1:00 P.M. IST.
Annual Reports
Nothing filed yet.
Credit Ratings
- Credit Rating
2025-10-10 - Britannia Industries Limited has informed the Exchange about Credit Rating
- Credit Rating
2025-10-02 - Britannia Industries Limited has informed the Exchange about Credit Rating
Concalls
Aug 2026
May 2026
Feb 2026

