Abneesh Roy from Nuvama Institutional Equities discusses Britannia s positive growth outlook despite local competition and tech disruption, while also reflecting on challenges faced by Titan in the jewelry segment and eyewear business.
Britannia, the largest biscuit maker in India, is targeting double-digit volume growth despite potential price increases for wheat and sugar post-elections. The company is also focusing on expanding adjacent businesses and building its core biscuit portfolio. The company plans to align its service towards high-potential retail outlets, build AI-enabled predictive ordering, and upgrade salesforce automation.
Volume grew at an estimated 5% year-on-year in Q3, well above the 0-1% growth achieved in the three previous quarters, but a good share of volume-growth benefits in Q3 vanished thanks to weak pricing.