Food and beverage company Britannia Industries reported consolidated revenue of Rs 12,883 crore, an increase of 13 per cent in FY 2021, from Rs 11, 444 crore in FY 2020. Meanwhile, the total income stood at Rs 13,449 crore for the financial year (FY) ending FY 2021, from Rs 11,878.95 crore.
The company’s total expenses stood at Rs 10,936 crore in FY 2021, from Rs 10,018 crore in the FY 2020.
The company’s profit before tax (PBT) was at Rs 2,513.61 crore in FY 2021. In the case of the quarter on quarter, the PBT was up at Rs 492.65 crore from 457.27 crore in the last quarter of FY 2020. The profit after tax of the company was at Rs 1,850.59 crore in FY 2021, in FY 2020, it was Rs1,393.6 crore.
The operating profit of the company has been steadily growing and has increased from 4 per cent in 2009-10 to 18 per cent the current year making it amongst the most profitable food companies in the World. In addition, the company has been consistently gaining market share over the last several years. Commenting on the performance, Varun Berry, Managing Director, said, “The year has been difficult and challenging in every possible way. Despite the adverse conditions, we managed to deliver good results in terms of topline growth, profitability improvement and market share gains.”
He added, “During the last quarter of the year, we implemented three transformational digital projects namely S4 HANA, an Online Dealer Management System and an Integrated Vendor Management System. The delivery of these projects necessitated shutdown of operations for a few days in March which impacted primary billing for the quarter. We are confident that with all the core systems getting upgraded and integrated we are well poised to take our business efficiencies to the next level while leveraging the large amounts of data available to build business intelligence and analytics.”
The consolidated operating profit increased 39 per cent for the year to Rs 2,311 crore. The consolidated revenue for the quarter grew 8 per cent to Rs 3,038 crore and the consolidated operating profit grew 12 per cent to Rs 453 crore.
The company reported 3 per cent decline in consolidated net profit at Rs 360.07 crore in the fourth quarter ended March 31, impacted by rise in commodity prices. The company had posted a consolidated net profit of Rs 372.35 crore in the same quarter a year ago, Britannia Industries said in a regulatory filing.
Consolidated total revenue from operations during the quarter under review stood at Rs 3,130.75 crore as against Rs 2,867.70 crore in the year-ago period, a growth of 9 per cent.
The company, however, said it incurred higher expenses in the fourth quarter at Rs 2,701.87 crore as compared to Rs 2,488.88 crore in the corresponding period previous year. The cost of materials consumed stood at Rs 1,532.35 crore during the fourth quarter as against Rs 1,307.97 crore in the corresponding period previous fiscal.