Britannia's FY01 net up 11.2% - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Britannia's FY01 net up 11.2%

Jun 1, 2001

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

BRITANNIA 2019-20 Annual Report Analysis (Annual Result Update)

Aug 6, 2020 | Updated on Aug 6, 2020

Here's an analysis of the annual report of BRITANNIA for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of BRITANNIA. Also includes updates on the valuation of BRITANNIA.

BRITANNIA Announces Quarterly Results (4QFY20); Net Profit Up 26.4% (Quarterly Result Update)

Jun 5, 2020 | Updated on Jun 5, 2020

For the quarter ended March 2020, BRITANNIA has posted a net profit of Rs 4 bn (up 26.4% YoY). Sales on the other hand came in at Rs 29 bn (up 2.5% YoY). Read on for a complete analysis of BRITANNIA's quarterly results.

BRITANNIA Announces Quarterly Results (3QFY20); Net Profit Up 22.9% (Quarterly Result Update)

Feb 10, 2020 | Updated on Feb 10, 2020

For the quarter ended December 2019, BRITANNIA has posted a net profit of Rs 4 bn (up 22.9% YoY). Sales on the other hand came in at Rs 30 bn (up 4.9% YoY). Read on for a complete analysis of BRITANNIA's quarterly results.

BRITANNIA 2018-19 Annual Report Analysis (Annual Result Update)

Sep 16, 2019 | Updated on Sep 16, 2019

Here's an analysis of the annual report of BRITANNIA for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of BRITANNIA. Also includes updates on the valuation of BRITANNIA.

More Views on News

Most Popular

How the 8-Year Cycle Can Help Identify Multibaggers (Fast Profits Daily)

Sep 11, 2020

This is how you can apply the greed and fear cycle in the market to pick stocks.

Why am I Recommending Caution? (Fast Profits Daily)

Sep 9, 2020

This is why I have changed my short-term view on the market.

This Could Be the Best September for Auto Stocks (Profit Hunter)

Sep 11, 2020

Here's why I think this month could be a great for auto stocks.

Why We Picked This Small-cap Stock for Our Hidden Treasure Subscribers (Profit Hunter)

Sep 17, 2020

This leading household brand will profit big time in a post covid world.

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

BRITANNIA SHARE PRICE


Sep 21, 2020 12:03 PM

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 8-QTR ANALYSIS

COMPARE BRITANNIA WITH

MARKET STATS