InvestorQ : How do you see the Mar-20 results of Britannia and what it means for the stock after the sharp rally?
vaishnavi mhatre made post

How do you see the Mar-20 results of Britannia and what it means for the stock after the sharp rally?

Answer
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Mary Joseph answered.
3 months ago


Actually, the results of Britannia were fairly attractive results despite the pressures of the COVID-19 pandemic. Net profits were up by 32% at Rs.381 crore while sales were marginally higher by 2% at Rs.2767 crore. Britannia has reported aggressive growth in January and February before tapering in March due to COVID-19. However, Britannia Industries has recorded positive growth of 20% and 29% in the month of April and May despite the virtual lockdown across India. That is because; most of Britannia products fall under the category of essential goods and hence there was bar on selling these goods. In addition, the pandemic had also resulted in a major propensity towards stockpiling which also helped growth. That was more on fear of shortages in essential goods, but Britannia was a beneficiary.