X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Britannia's FY01 net up 11.2% - Views on News from Equitymaster
 
 
  • PRINT
  • E-MAIL
  • FEEDBACK
  • A  A  A
  • Jun 1, 2001

    Britannia's FY01 net up 11.2%

    Britannia Industries Limited has posted a net profit of Rs 588 m for the year ended March 31, 2001. This is up 11.2% as compared to Rs 529 m net profit declared by the company last fiscal (excluding extraordinary expenses). The company's turnover saw a 17.5% growth during the period.

    (Rs m) FY00 FY01 Change
    Net Sales 11,395 13,384 17.5%
    Other Income 159 161 1.3%
    Expenditure 10,841 12,233 12.8%
    Operating Profit (EBDIT) 554 1,151 107.8%
    Operating Profit Margin (%) 4.9% 8.6%  
    Interest 73 101 38.4%
    Depreciation 172 189 9.9%
    Profit before Tax 771 1,022 32.6%
    Tax 261 434 66.3%
    Extraordinary income/(expense) (19) 117  
    Profit after Tax/(Loss) 510 705 38.2%
    Net profit margin (%) 4.5% 5.3%  
    Effective tax rate (%) 33.9% 42.5%  
    No. of Shares (eoy) (m) 27.9 27.9  
    Diluted earnings per share* 18.3 25.3  
    Current P/e ratio (incl. extraordinary income) 25.4  
    Current P/e ratio (excl. extraordinary income) 30.4  

    However, Britannia earned an extraordinary income of Rs 168 m in the form of reversal of previous years processing charges no longer required. The company also incurred VRS expenses worth Rs 41 m during the year (Rs 19 m in FY00), thus taking Britannia's net extraordinary income to Rs 117 m in FY01. If we include this to the company's bottomline, then Britannia's net profit shows a growth of 38%.

    The effective tax rate of the company went up by 860 basis points to 42.5%, which seems to have hampered the company's profitability.

    The company has acquired the trade mark 'KWALITY', and several other trademarks owned by Kwality Biscuits of Bangalore along with copyrights and designs in labels for a consideration of Rs 300 m. Britannia has also agreed in principle to acquire 49% equity of Kwality Biscuits. This transaction is expected to be completed during FY02.

    The company has recommended a dividend of Rs 5.5 per share. At the current price of Rs 642 the stock trades at a P/E of 30 x its FY01 earnings.

     

     

    Equitymaster requests your view! Post a comment on "Britannia's FY01 net up 11.2%". Click here!

      
     

    More Views on News

    GSK Consumer: On the Recovery Path (Quarterly Results Update - Detailed)

    Jun 20, 2017

    While GSK consumer reported muted revenue growth, volumes are seen to be recovering.

    Apex frozen food Ltd. (IPO)

    Aug 21, 2017

    Should you subscribe to the IPO of Apex Frozen Foods Ltd?

    Britannia: Margin Expansion Trend Continues (Quarterly Results Update - Detailed)

    Mar 11, 2016

    Britannia declared results for the quarter ended December 2015. The company's revenues were up by 10% YoY, while profits came in higher by 51% YoY.

    Britannia: Strong momentum continues... (Quarterly Results Update - Detailed)

    Nov 25, 2015

    Britannia declared results for the quarter ended September 2015 recently. While revenues were up by 12% YoY for the quarter, profits came in lower by 20% YoY.

    A Little Gem in the FMCG Sector (Sector Info)

    Jul 18, 2016

    Will investing in Bajaj Corp yield high returns on account of a rural revival in sight?

    More Views on News

    Most Popular

    This Small Cap Can Drive Chinese Players Out of India (and Make a Fortune in the Process)(The 5 Minute Wrapup)

    Aug 17, 2017

    A small-cap Indian company with high-return potential and blue-chip-like stability is set to supplant the Chinese players in this niche segment.

    The Most Important Innovation in Finance Since Gold Coins(Vivek Kaul's Diary)

    Aug 10, 2017

    Bill connects the dots...between money and growth, real money and real resources, gold and cryptocurrencies...and between gold, cryptocurrencies, and time.

    Signs of Life in the India VIX(Daily Profit Hunter)

    Aug 12, 2017

    The India VIX is up 36% in the last week. Fear has gone up but is still low by historical standards.

    Bitcoin Continues Stellar Rise(Chart Of The Day)

    Aug 10, 2017

    Bitcoin hits an all-time high, is there more upside left?

    5 Steps To Become Financially Independent(Outside View)

    Aug 16, 2017

    Ensure your financial Independence, and pledge to start the journey towards financial freedom today!

    More
    Copyright © Equitymaster Agora Research Private Limited. All rights reserved.
    Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

    LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA or Canada, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.

    SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

    Equitymaster Agora Research Private Limited. 103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
    Telephone: +91-22-61434055. Fax: +91-22-22028550. Email: info@equitymaster.com. Website: www.equitymaster.com. CIN:U74999MH2007PTC175407
     

    Become A Smarter Investor In
    Just 5 Minutes

    Multibagger Stocks Guide 2017
    Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
    We will never sell or rent your email id.
    Please read our Terms

    BRITANNIA SHARE PRICE


    Aug 22, 2017 (Close)

    TRACK BRITANNIA

    • Track your investment in BRITANNIA with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
    • Add To MyStocks

    BRITANNIA - RAJ OIL MILLS COMPARISON

    Compare Company With Charts

    COMPARE BRITANNIA WITH

    MARKET STATS