Buy Britannia Industries, target price Rs 3850: IIFL


IIFL has buy call on with a target price of Rs 3850. The current market price of Britannia Industries is Rs 3764.8. Britannia Industries Ltd., incorporated in the year 1918, is a Large Cap company (having a market cap of Rs 88475.74 Crore) operating in FMCG sector.
. key Products/Revenue Segments include Food Products, Other Operating Revenue, Scrap, Royalty Income for the year ending 31-Mar-2022.

Financials

For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 3756.46 Crore, up 4.22 % from last quarter Total Income of Rs 3604.28 Crore and up 8.45 % from last year same quarter Total Income of Rs 3463.93 Crore. Company reported net profit after tax of Rs 335.89 Crore in latest quarter.

Investment Rationale
The stock has given a consolidation breakout.


Promoter/FII Holdings
Promoters held 50.55 per cent stake in the company as of 30-Jun-2022, while FIIs owned 16.65 per cent, DIIs 8.73 per cent.

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