Britannia Industries Ltd (BRITANNIA) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+0.63%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 13.4%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 53.5%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹4,651.30

200-Day DMA ● Overlay

₹4,313.90

14-Day RSI ● Overlay

54.2 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹1.15 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

44.2x

Price / EPS

Book Value (₹) Assets

₹212.0

P/B: 22.6x

ROE (%) Quality

53.5%

Net Profit / Equity

ROCE (%) Efficiency

56.0%

EBIT / Capital

Dividend Yield Yield

1.89%

Face Value: ₹10

Debt / Equity Solvency

0.27x

Manageable

EPS (TTM) Per Share

₹108.14

Trailing 12M

OPM (%) Spread

18.0%

EBITDA Margin

Free Cash Flow Cash

₹2,408 Cr

CFO - Capex

About Britannia Industries Ltd

Britannia Industries Ltd (BRITANNIA) is a leading Indian enterprise operating in the Fast Moving Consumer Goods sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 13% × Turnover: 0.85x × Leverage: 1.27x = ROE: 53.5%

✓ Company Strengths (Pros)

• Company has a stellar track record of return on equity (ROE of 53.5%).
• Efficient capital productivity with a high ROCE of 56.0%.

⚠ Key Considerations & Risks (Cons)

• Stock is trading at a premium of 22.6x its book value.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹19,529 Cr

Latest PAT

₹2,610 Cr

EPS (TTM)

₹108.14

OPM %

18.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹4,011 Cr	₹4,433 Cr	₹4,256 Cr	₹4,069 Cr	₹4,250 Cr	₹4,668 Cr	₹4,593 Cr	₹4,432 Cr	₹4,622 Cr	₹4,841 Cr	₹4,970 Cr	₹4,719 Cr	₹5,000 Cr
Operating Profit (EBITDA)	₹689.00 Cr	₹871.00 Cr	₹820.00 Cr	₹784.00 Cr	₹753.00 Cr	₹780.00 Cr	₹843.00 Cr	₹801.00 Cr	₹752.00 Cr	₹951.00 Cr	₹977.00 Cr	₹834.00 Cr	₹838.00 Cr
OPM %	17.0%	20.0%	19.0%	19.0%	18.0%	17.0%	18.0%	18.0%	16.0%	20.0%	20.0%	18.0%	17.0%
Interest Expense	₹53.00 Cr	₹53.00 Cr	₹31.00 Cr	₹26.00 Cr	₹29.00 Cr	₹35.00 Cr	₹45.00 Cr	₹31.00 Cr	₹26.00 Cr	₹35.00 Cr	₹33.00 Cr	₹19.00 Cr	₹23.00 Cr
Depreciation	₹71.00 Cr	₹72.00 Cr	₹78.00 Cr	₹80.00 Cr	₹74.00 Cr	₹76.00 Cr	₹82.00 Cr	₹81.00 Cr	₹82.00 Cr	₹85.00 Cr	₹85.00 Cr	₹85.00 Cr	₹80.00 Cr
Profit before Tax (PBT)	₹622.00 Cr	₹799.00 Cr	₹758.00 Cr	₹735.00 Cr	₹681.00 Cr	₹715.00 Cr	₹778.00 Cr	₹752.00 Cr	₹701.00 Cr	₹884.00 Cr	₹919.00 Cr	₹785.00 Cr	₹797.00 Cr
Net Profit (PAT)	₹455.00 Cr	₹586.00 Cr	₹556.00 Cr	₹537.00 Cr	₹505.00 Cr	₹532.00 Cr	₹582.00 Cr	₹559.00 Cr	₹520.00 Cr	₹655.00 Cr	₹682.00 Cr	₹680.00 Cr	₹593.00 Cr
EPS in ₹	₹19.00	₹24.39	₹23.10	₹22.35	₹20.99	₹22.06	₹24.15	₹23.25	₹21.62	₹27.17	₹28.23	₹28.16	₹24.55

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹7,858 Cr	₹8,397 Cr	₹9,054 Cr	₹9,914 Cr	₹11,055 Cr	₹11,600 Cr	₹13,136 Cr	₹14,136 Cr	₹16,301 Cr	₹16,769 Cr	₹17,943 Cr	₹19,152 Cr	₹19,529 Cr
Expenses	₹6,988 Cr	₹7,174 Cr	₹7,776 Cr	₹8,413 Cr	₹9,322 Cr	₹9,756 Cr	₹10,627 Cr	₹11,935 Cr	₹13,470 Cr	₹13,603 Cr	₹14,766 Cr	₹15,637 Cr	₹15,929 Cr
Operating Profit	₹870.00 Cr	₹1,224 Cr	₹1,278 Cr	₹1,501 Cr	₹1,732 Cr	₹1,843 Cr	₹2,509 Cr	₹2,201 Cr	₹2,831 Cr	₹3,167 Cr	₹3,176 Cr	₹3,514 Cr	₹3,600 Cr
OPM %	11%	15%	14%	15%	16%	16%	19%	16%	17%	19%	18%	18%	18%
Interest	₹4.00 Cr	₹5.00 Cr	₹5.00 Cr	₹8.00 Cr	₹9.00 Cr	₹77.00 Cr	₹111.00 Cr	₹144.00 Cr	₹169.00 Cr	₹164.00 Cr	₹139.00 Cr	₹113.00 Cr	₹109.00 Cr
Depreciation	₹144.00 Cr	₹113.00 Cr	₹119.00 Cr	₹142.00 Cr	₹162.00 Cr	₹185.00 Cr	₹198.00 Cr	₹201.00 Cr	₹226.00 Cr	₹300.00 Cr	₹313.00 Cr	₹337.00 Cr	₹334.00 Cr
Profit before Tax	₹950.00 Cr	₹1,220 Cr	₹1,304 Cr	₹1,518 Cr	₹1,768 Cr	₹1,844 Cr	₹2,514 Cr	₹2,078 Cr	₹3,033 Cr	₹2,913 Cr	₹2,927 Cr	₹3,289 Cr	₹3,385 Cr
Net Profit	₹689.00 Cr	₹825.00 Cr	₹885.00 Cr	₹1,004 Cr	₹1,155 Cr	₹1,394 Cr	₹1,851 Cr	₹1,516 Cr	₹2,316 Cr	₹2,134 Cr	₹2,178 Cr	₹2,537 Cr	₹2,610 Cr
EPS in Rs	28.71	34.36	36.85	41.83	48.23	58.33	77.38	63.31	96.39	88.84	90.45	105.18	108.11

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹24.00 Cr	₹24.00 Cr	₹24.00 Cr	₹24.00 Cr	₹24.00 Cr	₹24.00 Cr	₹24.00 Cr	₹24.00 Cr	₹24.00 Cr	₹24.00 Cr	₹24.00 Cr	₹24.00 Cr
Reserves & Surplus	₹1,221 Cr	₹2,068 Cr	₹2,672 Cr	₹3,382 Cr	₹4,229 Cr	₹4,379 Cr	₹3,524 Cr	₹2,534 Cr	₹3,510 Cr	₹3,917 Cr	₹4,332 Cr	₹5,082 Cr
Borrowings (Debt)	₹145.00 Cr	₹131.00 Cr	₹125.00 Cr	₹201.00 Cr	₹156.00 Cr	₹1,538 Cr	₹2,107 Cr	₹2,481 Cr	₹2,997 Cr	₹2,065 Cr	₹1,247 Cr	₹1,380 Cr
Total Liabilities	₹2,793 Cr	₹3,494 Cr	₹4,109 Cr	₹5,188 Cr	₹6,238 Cr	₹7,830 Cr	₹8,000 Cr	₹7,527 Cr	₹9,351 Cr	₹9,072 Cr	₹8,837 Cr	₹9,730 Cr
Fixed Assets	₹844.00 Cr	₹950.00 Cr	₹1,160 Cr	₹1,346 Cr	₹1,688 Cr	₹1,878 Cr	₹1,793 Cr	₹1,753 Cr	₹2,655 Cr	₹2,771 Cr	₹2,904 Cr	₹2,850 Cr
Total Assets	₹2,793 Cr	₹3,494 Cr	₹4,109 Cr	₹5,188 Cr	₹6,238 Cr	₹7,830 Cr	₹8,000 Cr	₹7,527 Cr	₹9,351 Cr	₹9,072 Cr	₹8,837 Cr	₹9,730 Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹584.00 Cr	₹959.00 Cr	₹441.00 Cr	₹1,249 Cr	₹1,156 Cr	₹1,485 Cr	₹1,851 Cr	₹1,300 Cr	₹2,526 Cr	₹2,573 Cr	₹2,491 Cr	₹2,612 Cr
Cash from Investing (CFI)	-₹450.00 Cr	-₹705.00 Cr	-₹150.00 Cr	-₹957.00 Cr	-₹852.00 Cr	-₹1,526 Cr	₹459.00 Cr	₹914.00 Cr	-₹1,507 Cr	₹485.00 Cr	₹69.00 Cr	-₹741.00 Cr
Cash from Financing (CFF)	-₹181.00 Cr	-₹246.00 Cr	-₹295.00 Cr	-₹232.00 Cr	-₹353.00 Cr	₹58.00 Cr	-₹2,244 Cr	-₹2,246 Cr	-₹1,028 Cr	-₹2,839 Cr	-₹2,754 Cr	-₹1,783 Cr
Free Cash Flow (FCF)	₹631.00 Cr	₹710.00 Cr	₹89.00 Cr	₹828.00 Cr	₹756.00 Cr	₹1,241 Cr	₹1,611 Cr	₹752.00 Cr	₹1,893 Cr	₹2,085 Cr	₹2,120 Cr	₹2,408 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	6	7	7	11	13	10	7	9	7	9	9	9
Inventory Days	31	32	43	39	43	39	52	57	45	45	43	44
Cash Conversion Cycle (Days)	-17	-16	1	-9	-7	-6	-4	10	-2	-9	-9	-9
ROCE %	66%	68%	52%	47%	44%	37%	45%	41%	49%	49%	53%	56%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹1,651.59 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹4,820.00

DCF Fair Value

₹1,651.59

Graham Number

₹718.21

Margin of Safety

-74.4%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹1,651.59

Premium / Overvalued (Margin: -74.4%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹1,607	₹1,593	₹1,578	₹1,564
10%	₹1,637	₹1,622	₹1,607	₹1,593
12%	₹1,667	₹1,652	₹1,637	₹1,622
14%	₹1,697	₹1,681	₹1,666	₹1,651

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹1,652	Fairly Valued
Benjamin Graham Number	₹718	Market Priced
Historical Sector P/E	₹2,379	Premium
EV / EBITDA Multiplier	₹5,061	In-Line
Free Cash Flow Yield Model	₹4,724	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 9/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

9 / 9 Pass

Altman Z-Score

5.1 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.27x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 18.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

50.55%

FIIs (Foreign)

13.40%

DIIs (Domestic)

20.88%

Government

0.15%

Public / Retail

15.13%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	50.55%	50.55%	50.55%	50.55%	50.55%	50.55%	50.55%	50.55%	50.55%	50.55%	50.55%	50.55%
+ FIIs (Foreign Portfolio)	19.66%	18.99%	18.23%	17.41%	17.91%	16.46%	15.72%	15.58%	15.02%	14.88%	15.63%	13.40%
+ DIIs (Mutual Funds / Insurance)	13.84%	14.84%	15.63%	16.69%	16.37%	17.58%	18.26%	18.65%	19.39%	19.55%	18.82%	20.88%
+ Public (Retail & HNIs)	15.94%	15.62%	15.57%	15.36%	15.18%	15.41%	15.48%	15.20%	15.03%	14.97%	14.94%	15.13%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Fast Moving Consumer Goods.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

BRITANNIA Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

BRITANNIA Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

BRITANNIA Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹6,169.60

Accelerated market share capture in Fast Moving Consumer Goods, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹5,398.40

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 44x P/E.

🐻 Bear Case (15%) -12.0%

₹4,241.60

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Fast Moving Consumer Goods)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:19 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Britannia Industries Ltd (BRITANNIA)	Target Stock	₹4,820.00	+0.63%	44.2x	53.5%	56.0%	0.27	₹1.15 Lakh Cr
Hindustan Unilever Ltd (HINDUNILVR)	Household & Personal Care	₹2,022.40	+1.61%	38.2x	31.0%	28.4%	0.03	₹4.31 Lakh Cr
ITC Ltd (ITC)	Cigarettes, FMCG Foods, Hotels & Paper	₹285.00	+2.22%	16.2x	29.3%	38.9%	0.03	₹3.21 Lakh Cr
Nestle India Ltd (NESTLEIND)	Packaged Foods & Nutrition	₹1,288.00	-0.76%	68.3x	74.2%	85.3%	0.09	₹2.53 Lakh Cr
Varun Beverages Ltd (VBL)	Sector Peer	₹433.65	-0.31%	44.0x	16.2%	19.7%	0.13	₹1.49 Lakh Cr
Marico Ltd (MARICO)	Sector Peer	₹925.00	+2.55%	54.2x	42.8%	47.0%	0.13	₹1.02 Lakh Cr
United Spirits Ltd (UNITEDSPR)	Sector Peer	₹1,335.10	-1.40%	52.6x	21.4%	26.4%	0.05	₹97,396 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:19:43 IST	✓ Live Sync
Financial Statements (10Y)	Britannia Industries Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Britannia Industries Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Britannia Industries Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Fast Moving Consumer Goods)

Metric Explainer

Stock DNA Methodology

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