Britannia Industries Limited delivered impressive Q4 FY2026 results, with consolidated profit surging 21.1% to ₹678 crore compared to ₹560 crore in the same quarter last year. According to reports from ET Now, the company's consolidated revenue grew 6.5% year-on-year to ₹4,719 crore, up from ₹4,432 crore in Q4 FY2025. The company also rewarded investors with a final dividend of ₹90.50 per equity share for the financial year ended March 31, 2026, with the record date set for Friday, July 31, 2026.
Following the strong results, brokerage firms have turned increasingly bullish on Britannia Industries. Nuvama Research maintains a 'BUY' rating with a target price of ₹7,530, while Nirmal Bang Institutional Research upgraded the stock to 'BUY' with a target price of ₹7,135, representing a 21.5% upside to current market price. As reported by ET Now, Nirmal Bang values the company at 53x December 2026E EPS, citing the structural advantages of packaged food companies and recent GST reductions that accelerate conversion from unorganized players.
The company's operational metrics showed mixed results during the quarter. According to ET Now reports, EBITDA increased 5.9% to ₹853 crore compared to ₹805 crore last year, though EBITDA margin declined marginally to 18.1% from 18.2% in the previous year. The business witnessed 9% growth during January-February, but growth lowered in March due to supply disruptions in the International Business following the West Asia conflict. Gross margin expanded 239 basis points year-on-year to 41.7%, though it declined 56 basis points quarter-on-quarter.
Management indicated that November and December sales growth accelerated to 12% year-on-year after October was affected by continuing GST transition issues, as reported by ET Now. The brokerage highlighted structural advantages including higher addressable market size compared to other staples, better track record on topline growth, and manufacturing expansion that can facilitate operating leverage once growth returns. EPS growth forecasts over FY26-FY28E are at 14.3%, substantially higher than the preceding five years, with ROEs likely to accelerate to the late 50% level once operating leverage benefits materialize.
