A production line at the Britannia biscuit factory in New Delhi;. Britannia reported consolidated net sales of ₹4,964 crore for Q1 FY27, up 9.5 per cent year-on-year, while net profit grew 14.1 per cent to ₹593 crore.
| Photo Credit:
REUTERS/ADNAN ABIDI
Shares of Britannia Industries were trading 2.15 per cent higher at ₹5,520 on the NSE on Friday afternoon, touching an intraday high of ₹5,660, as investors responded to the company’s first-quarter results for FY26-27 declared on the previous trading day.The stock opened at ₹5,502.50 against the previous close of ₹5,404, with traded volume crossing 10.41 lakh shares by early afternoon. Total traded value stood at ₹583.50 crore, reflecting active interest in the counter. The stock remains well below its 52-week high of ₹6,336 touched in September 2025, while it has recovered from its 52-week low of ₹5,035 hit in June 2026. Year-to-date, the stock is down 8.15 per cent, underperforming the Nifty Next 50 index, which has gained 7.11 per cent in the same period.Analyst reactions were broadly cautious, with most major brokerages maintaining neutral or underperform ratings despite acknowledging improving growth momentum. JM Financial stood apart with a Buy rating and the highest target price of ₹6,355, noting an in-line revenue performance and an exit run-rate of mid-teen revenue growth. The brokerage estimated volume growth at 6-6.5 per cent for the quarter. Goldman Sachs and JPMorgan both carry Neutral ratings with targets of ₹6,000 and ₹5,900 respectively, with Goldman flagging an improving growth trajectory while JPMorgan flagged input cost volatility as a key monitorable. Morgan Stanley is Equal-weight with a ₹5,848 target, calling improving growth commentary a key positive even as margins missed. Macquarie remains the most bearish, with an Underperform rating and a ₹4,800 target, attributing the quarter’s miss to higher other expenses.The common thread across brokerages was a margin miss offset by a stronger-than-expected revenue exit rate. Britannia reported consolidated net sales of ₹4,964 crore for Q1 FY27, up 9.5 per cent year-on-year, while net profit grew 14.1 per cent to ₹593 crore. Operating profit rose 12.7 per cent to ₹761 crore, though profit margins dipped compared to recent quarters, with profit after tax at 11.9 per cent of revenue versus 13.4 per cent for the full year FY25-26.The company’s management noted that most key categories saw positive sequential momentum, with the business exiting the quarter at mid-teen revenue growth driven by e-commerce scale-up and General Trade strength. Input cost pressures from industrial fuel, laminate, and milk remain elevated, though strategic forward covers have partially cushioned the impact.The board also declared a final dividend of ₹90.5 per share.More Like ThisPublished on August 7, 2026
