Britannia Industries

Britannia plans up to Rs 200 cr capex over two years

BritanniaKolkata: FMCG company Britannia Industries Limited is planning a capital expenditure between Rs 150 crore and Rs 200 crore over the next two years, its chairman Nusli Wadia said.

"We are going to finalise our plans for a capital expenditure of Rs 150 crore to Rs 200 crore over the next two years," Wadia told shareholders at the company's AGM Tuesday.

Wadia said the capital expenditure would be made on two counts - upgradation and innovation and for creating new capacities.

He also said that the company was willing to have a good market share in the SAARC countries.

KPMG was restricted from examining Britannia corporate loan

KPMGIt has emerged that leading accountancy firm KPMG was banned from examining corporate loan book of Britannia Building Society during the due diligence process of the bank at the time of its takeover by Co-operative Bank.

KPMG partners have told the government that Co-op as the leading four accountancy firms to evaluate the part of the business ahead of the takeover in 2009 but the accountancy firm was barred from examining its business by Britannia. Partners at KPMG, the bank's auditor for 30 years, were speaking about the financial gap of £1.5 billion of Co-operative Bank.

Varun Berry to join Britannia as new COO

Varun Berry to join Britannia as new COOBritannia Industries has announced in a press release on Monday that it has appointed Varun Berry as the company's new chief operating officer.

As the new COO, Berry will be the second most senior official in the company and will work with MD and CEO Vinita Bali. The company also said that Neeraj Chandra, who is now working as the president and COO at Britannia, will now work as the head strategy and new business development at the biscuit maker. Vinod Menon, who has been working as the head of strategy and new business development, will now work as the new VP and CFO of the company.

Britannia Industries record 3.94 per cent increase in net profit

Britannia Industries record 3.94 per cent increase in net profitBritannia Industries Ltd has recorded an increase3.94 per cent increase in net profit to Rs 43.45 crore during the first quarter of the financial year till June 2012.

Britannia had reported a net profit of Rs 41.8-crore in the same quarter of the previous year. The net sales of the company rose to Rs 1,222 crore for the first quarter compared to Rs 1,103 crore during the same period of the previous year.

Managing Director Vinita Bali said that the operating margin of the company rose by a 120-basis-point during the quarter.

Long Term Buy Call For Britannia Industries: StocksIdea.Com

Britannia-IndustriesThe Company was incorporated on 21st March, as a public limited company under the Indian Companies Act, VII of 1913. In 1921 Company obtained a priority of Certificate and imported new machinery thereby becoming the first biscuit company in India to install and run a gas oven plant. A new factory was established at Kasara Pier Road in Mumbai in 1924. In the same year, the Company became a subsidiary of Peek, Frean & Co. Ltd., U. K., a leading biscuit manufacturing company, and further strengthened its position by expanding the factories at Calcutta and Mumbai.

Britannia to Phase out Subsidiaries

Britannia to Phase out SubsidiariesBritannia Industries Limited (BIL) has finally called it a day to regroup, rethink and revitalize their out of commission subsidiaries.

Not exactly the operations, there’re just doing an all fine duty. It’s about the 20 subsidiaries that the biscuit and dairy giant has folded up in its sleeve.

In his dialogue addressing shareholders at the 92nd annual general meeting of the company, Britannia’s Chairman Nusli Wadia revealed that the Company holds far too subsidiaries, which is not a fine thing indeed, and is cut across them.

Sales rise but profits fall for Britannia

BritanniaOne of India's biggest biscuit maker, Britannia Industries Ltd, on Monday posted its financial results. The profit for the company fell down for the June quarter. This happened despite a modest increase in the sales during the same period.

In amount terms, the net profit of the company stood at Rs 328 million which is 30 per cent lesser than what it saw last year during the same quarter. At that time, the figure was at Rs 473.7 million.

The fall happened despite an increase in sales during the period. The increase was of 25 per cent and ended at Rs 9.13 billion.

Britannia net profit down by 35%

Britannia net profit down by 35%Britannia Industries has posted a net profit of Rs 116.5 crore for the quarter that ended on 31st March 2010. This net profit figure has declined by 35% in the quarter as compared to the same quarter in the last fiscal. Britannia, Industries produces and sells products across the bakery and dairy categories.

As per the analysts, heavy price rise of the commodities and the higher promotional expenses have affected the bottom line of the company.

So far as the net sales of the firm are concerned, it has gone up to Rs 3401.40 crore during the January-March period of fiscal year 2009-10.

Britannia Industries enters milk-based drinks segment

Britannia Industries enters milk-based drinks segmentChennai, Oct 30 : In order to expand its Rs. 200-crore dairy products portfolio, the Bangalore-headquartered Britannia Industries launched a milk-based vitamin fortified drink targeting mainly children here Friday.

"This is not a flavoured milk but a vitamin fortified milk-based drink," Britannia managing director Vinita Bali told reporters at the launch.    

Britannia’s eggless-pure vegetarian cakes to hit the markets soon

Britannia’s eggless-pure vegetarian cakes to hit the markets soonWith an objective to widen its basket of offerings, bakery major Britannia had launched eggless-pure vegetarian cakes in Gujarat.

Commenting on their entry into the pure vegetarian cakes category, Anuradha Narasimhan (Category Director, Health & Wellness, Britannia Industries Ltd) said: “Over one third of our country is pure vegetarian and the percentage is highest in Gujarat, so we decided to launch our egg less fruit cake variant here.”

Britannia gets Rs 220 million from Danone to resolve dispute

Britannia gets Rs 220 million from Danone to resolve dispute Britannia Industries Ltd, country's top biscuit manufacturer, on Monday got Rs 220 million from France's Danone to resolve a conflict over the Tiger brand.

Ms. Vinita Bali, MD, stated that Danone has paid Rs 220 million as fee for utilizing the Tiger brand. Also all the IPR issues on Tiger, were settled with Kraft, with Britannia ensuring to legalize rights to its Tiger logo across the world.

As an effect of the increasing sugar costs, many consumer companies have decided to import sugar to fulfill the demand of the raw material.

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