Britannia Industries Limited Earnings Summary — Q1 FY2027
Britannia Reports Robust 14% Profit Growth in Q1 FY27 Amid Strong Operational Performance
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue grew 6.0% sequentially in Q1 FY2027.
- Revenue of ₹5,000 Cr is 8.2% higher year-on-year.
- Revenue has compounded at 9.6% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹591 Cr is 13.6% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 4.3% annualised across the period.
- Operating margin stands at 16.8% in Q1 FY2027.
- Operating margin expanded by 50 bps year-on-year.
- Over the last two years operating margin has contracted by 95 bps.
- PBT margin is 15.9%.
- Expense growth of 7.5% remained below revenue growth of 8.2%.
- Operating profit of ₹838 Cr is 11.4% higher year-on-year.
- Operating leverage has been under pressure recently.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 67/100 (Healthy) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Stable | 5,000 | 4,719 | 4,970 | 4,841 | 4,622 | 4,432 | 4,593 | 4,668 | 4,250 | 4,069 |
| Expenses | Stable | 4,162 | 3,885 | 3,992 | 3,889 | 3,870 | 3,632 | 3,750 | 3,888 | 3,497 | 3,286 |
| Operating Profit | Stable | 838 | 834 | 977 | 951 | 752 | 801 | 843 | 780 | 753 | 784 |
| Operating Margin | Stable | 16.8% | 17.7% | 19.7% | 19.6% | 16.3% | 18.1% | 18.4% | 16.7% | 17.7% | 19.3% |
| Other Income | Improving | 61 | 55 | 59 | 52 | 57 | 63 | 62 | 46 | 31 | 57 |
| Interest | Stable | 23 | 19 | 33 | 35 | 26 | 31 | 45 | 35 | 29 | 26 |
| Depreciation | Stable | 80 | 85 | 85 | 85 | 82 | 81 | 82 | 76 | 74 | 80 |
| Profit Before Tax | Stable | 797 | 785 | 919 | 884 | 701 | 752 | 778 | 715 | 681 | 735 |
| Tax | Improving | 204 | 105 | 237 | 229 | 181 | 193 | 196 | 184 | 176 | 198 |
| Net Profit | Stable | 591 | 678 | 680 | 654 | 521 | 560 | 582 | 531 | 506 | 538 |
| Net Margin | Stable | 11.8% | 14.4% | 13.7% | 13.5% | 11.3% | 12.6% | 12.7% | 11.4% | 11.9% | 13.2% |
Key Takeaways
- Consolidated revenue from operations grew 8.17% year-on-year to ₹4,999.97 Crores.
- Net Profit increased by 14.08% compared to the same quarter last year, reaching ₹593.38 Crores.
- Cost of materials consumed rose significantly to ₹2,799.56 Crores compared to ₹2,550.87 Crores in Q1 last year.
- Other expenses saw a sharp rise of 18.6% year-on-year, impacting short-term operating leverage.
- The company continues to maintain its 'Total Foods Company' transition, successfully managing the single-segment 'Foods' business.
- Quarter-on-quarter profitability decline (12.7%) was impacted by a lower tax expense in the previous quarter (Q4 FY26) which had included a ₹95.39 Cr tax provision reversal.
Management Guidance
Management remains focused on premiumization and diversification into non-biscuit categories like cakes and dairy. Despite high raw material volatility in wheat and palm oil, the strategy centers on maintaining operating margins through pricing power and cost-efficiency programs.
Sentiment Shift
Stable
Revenue and profit show steady year-on-year growth; however, rising raw material costs and other expenses are being closely watched for margin pressure.
Outlook
Britannia is expected to continue its trajectory as a defensive FMCG heavyweight, leveraging its brand power to combat inflation while expanding its distribution footprint, particularly in rural markets.
From the Annual Report (Key Quotes)
“The operating segment of the Group is identified to be 'Foods', as the Chief Operating Decision Maker reviews business performance at an overall Group level.”
“The results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors on 6 August 2026.”
Official Quarterly Documents
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This summary is AI-generated from Britannia Industries Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.