Britannia's net sales surges by 17.16% in Q4FY12
- Britannia Industries Limited engages in the production and sale of bakery and dairy products in India and internationally.
- During the quarter ended, the robust growth of Net Profit is increased by 22.59% to Rs. 530.20 million.
- It has posted a rise of 22.59% in net profit of Rs530.20 mn for the quarter ended on March 31, 2012. Net sales surged by 17.16% to Rs13218.90 mn from Rs11282.80 mn as compared to same quarter last year
- Net Sales and PAT of the company are expected to grow at a CAGR of 13% and 22% over 2011to 2014E respectively.
- Britannia Industries Ltd has recommended a dividend of 425% (Rs. 8.5/- per share of face value of Rs2)
Outlook: At CMP of Rs522.90, the stock is trading at 27.69 x FY13E and 23.90 x FY14E respectively. The company will keep its growth story in the coming quarters also. Maintain buy for a price target of Rs596
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