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Compare Britannia with Nestle - Equitymaster
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BRITANNIA vs NESTLE - Comparison Results


Britannia is the leading biscuit manufacturer with a 33% market share of the overall biscuit market. Apart from the core business of biscuits that contributes a lion's share of 93%, the company has a presence in other food categories such as dairy, c... More


Nestle India is a 100-year old and second largest FMCG company dominating the noodle (Maggi) and the hot beverage (Nescafe) categories. Milk products & nutrition is the largest segment with a 44% sales share. This is followed by prepared dishes & coo... More


Current Valuations

P/E (TTM) x 57.5 65.9 87.3% View Chart
P/BV x 28.8 21.3 135.1% View Chart
Dividend Yield % 0.5 0.9 49.8%  


5-Yr Chart
Click to enlarge
High Rs3,4356,700 51.3%   
Low Rs2,0094,990 40.3%   
Sales per share (Unadj.) Rs723.7949.9 76.2%  
Earnings per share (Unadj.) Rs67.296.1 69.9%  
Cash flow per share (Unadj.) Rs76.7132.8 57.7%  
Dividends per share (Unadj.) Rs20.0063.00 31.7%  
Dividend yield (eoy) %0.71.1 68.2%  
Book value per share (Unadj.) Rs147.3312.4 47.1%  
Shares outstanding (eoy) m119.9396.42 124.4%   
Bonus/Rights/Conversions ---  
Price / Sales ratio x3.86.2 61.1%   
Avg P/E ratio x40.560.8 66.6%  
P/CF ratio (eoy) x35.544.0 80.6%  
Price / Book Value ratio x18.518.7 98.8%  
Dividend payout %29.865.6 45.4%   
Avg Mkt Cap Rs m326,449563,575 57.9%   
No. of employees `0003.07.6 39.9%   
Total wages/salary Rs m3,3659,860 34.1%   
Avg. sales/employee Rs Th28,671.512,070.8 237.5%   
Avg. wages/employee Rs Th1,111.61,299.4 85.6%   
Avg. net profit/employee Rs Th2,663.11,221.1 218.1%   
Net Sales Rs m86,78991,593 94.8%  
Other income Rs m1,0001,494 66.9%   
Total revenues Rs m87,78893,087 94.3%   
Gross profit Rs m12,26517,114 71.7%  
Depreciation Rs m1,1343,536 32.1%   
Interest Rs m4935 138.7%   
Profit before tax Rs m12,08215,037 80.4%   
Minority Interest Rs m00-   
Prior Period Items Rs m20-   
Extraordinary Inc (Exp) Rs m-103-621 16.6%   
Tax Rs m3,9205,150 76.1%   
Profit after tax Rs m8,0619,265 87.0%  
Gross profit margin %14.118.7 75.6%  
Effective tax rate %32.434.2 94.7%   
Net profit margin %9.310.1 91.8%  
Current assets Rs m17,04832,790 52.0%   
Current liabilities Rs m16,16316,327 99.0%   
Net working cap to sales %1.018.0 5.7%  
Current ratio x1.12.0 52.5%  
Inventory Days Days1938 49.3%  
Debtors Days Days74 183.9%  
Net fixed assets Rs m9,24429,176 31.7%   
Share capital Rs m240964 24.9%   
"Free" reserves Rs m12,16929,158 41.7%   
Net worth Rs m17,66530,123 58.6%   
Long term debt Rs m408332 123.2%   
Total assets Rs m34,57168,060 50.8%  
Interest coverage x249.1429.4 58.0%   
Debt to equity ratio x00 210.0%  
Sales to assets ratio x2.51.3 186.5%   
Return on assets %23.513.7 171.7%  
Return on equity %45.630.8 148.4%  
Return on capital %66.647.5 140.3%  
Exports to sales %1.85.2 34.3%   
Imports to sales %0.34.7 6.2%   
Exports (fob) Rs m1,5494,773 32.5%   
Imports (cif) Rs m2534,299 5.9%   
Fx inflow Rs m1,7376,557 26.5%   
Fx outflow Rs m1,2859,068 14.2%   
Net fx Rs m453-2,511 -18.0%   
From Operations Rs m9,61414,659 65.6%  
From Investments Rs m-7,052-1,274 553.5%  
From Financial Activity Rs m-2,483-6,666 37.3%  
Net Cashflow Rs m796,720 1.2%  

Share Holding

Indian Promoters % 0.0 0.0 -  
Foreign collaborators % 50.8 62.8 80.9%  
Indian inst/Mut Fund % 8.5 4.5 188.2%  
FIIs % 20.5 12.5 164.0%  
ADR/GDR % 0.0 0.0 -  
Free float % 20.3 20.3 100.0%  
Shareholders   45,387 62,821 72.2%  
Pledged promoter(s) holding % 0.0 0.0 -  
NM: Not Meaningful
Source: Company Annual Reports, Regulatory Filings, Equitymaster


Compare BRITANNIA With:   COCA COLA (US)  TIGER BRANDS (S. Africa)  NESTLE (Switz.)  AVI LTD. (S. Africa)  

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