Get access to more insightful information

By signing up to Upstox today
Shareholding Info
  • Promoters
    50.55 %
  • Foreign institutions-FII
    19.66 %
  • Other domestic institutions
    8.15 %
  • Retail and other
    15.95 %
  • Mutual Funds
    5.7 %

Britannia Industries Limited overview

Britannia Industries Limited was founded in 1892. It has been a part of the Wadia group since the early 1990s. The company is headquartered in Kolkata and specialises in the manufacturing and sale of biscuits, bread, cakes and rusks. It also produces dairy products like cheese, milk and yogurt.

The company’s shares are listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Britannia Industries was registered as a public limited company in 1918. Its products are sold across India in nearly 5 million retail outlets and reach nearly 50% of Indian homes. The company has also established exports in over 60 countries in North America, Europe, Africa and Southeast Asia.

Britannia’s portfolio consists of brands like Good Day, Tiger, NutriChoice, Milk Bikis, and Marie Gold, among others.

Britannia Industries Limited journey

company’s key milestones are listed below:
  • 1921: Britannia imports new machinery and becomes the first company in India to use imported gas ovens.
  • 1924: The company becomes a subsidiary of Peek, Frean & Co. Limited, a UK-based company. It opens up new factories in Mumbai and Kolkata.
  • 1978: For the first time in the company's history, Indian shareholders account for 60% of its stake. It changed its name from Britannia Biscuit Co., Limited to Britannia Industries Limited.
  • 1983: Britannia’s sales cross ₹100 crore.
  • 1992: The company celebrates its platinum jubilee.
  • 1993: The Wadia group acquires a 50% share in the company, holding an equal partnership with Group Danone.
  • 2000: Forbes Global votes Britannia Industries Limited in the top 300 small companies.
  • 2001: The Economic Times Brand Equity Survey names Britannia the No.1 food brand in India.
  • 2007: The company forms a joint venture with the Khimji Ramdas Group and starts local manufacturing in UAE and Oman.
  • 2009: The Wadia group buys out Group Danone’s stake in the company and becomes the largest shareholder.
  • 2017: Britannia Industries Limited enters into a joint venture with Chipita S.A., a greek food company, and subsequently launches its new line of ready-to-eat croissants.
  • 2022: The company’s wholly owned subsidiary, Britannia Dairy Private Limited (BDPL), forms a joint venture with French cheesemaker Bel SA to manufacture, market and sell cheese products.

Britannia Industries Limited - Initial Public Offer (IPO)

The company's product portfolio consists of the following ready-to-eat items:

BDL products

  • Biscuits: In 2020, Britannia biscuits contributed to 77% of the company’s total revenue. Its factories produce 4,33,000 tonnes of biscuits annually.
  • Bread and rusks: Britannia Bread has an annual turnover of over ₹450 crore in value. It sells close to 10 lakh loaves every day.
  • Dairy: The company launched its dairy products in 1997. They directly reach around 1 lakh outlets across India and account for 5% of its annual revenue.
  • Cakes, croissants and more: Britannia cakes first hit the market in 1963. Over the years, the company has diversified its product line to include cream wafers, croissants and salted snacks.

Britannia Industries Limited business highlights

Here are the company’s key subsidiaries:

Name of subsidiary

Profit After Tax 


Britannia Dairy Private Limited

₹4,97,100 crore

Ganges Valley Foods Private Limited

₹2,458 crore

International Bakery Products Limited

₹25,048 crore

J B Mangharam Foods Private Limited

₹37,388 crore

Sunrise Biscuit Company Private Limited

₹16,010 crore

Britchip Foods Limited

₹2,25,900 crore 

Britannia Industries Limited Performance Highlights

Total revenue (FY2021-22)

₹14,359 crore

EBITDA (FY2021-22)

₹2,423 crore

Share price return (last 3 years) 


ROCE (FY2021-22)


ROE (FY2021-22)


Britannia Industries Limited management

  • Chairman: Nusli N Wadia
  • Managing Director: Varun Berry
  • Executive Director and Chief Financial Officer: N. Venkataraman
  • Chief Marketing Officer: Amit Doshi

Indian FMCG industry overview


Top FMCG companies

Market capitalisation December 2022

(in crore) 


Nestle India



Britannia Industries Limited



Adani Wilmar



Jubilant FoodWorks Limited



Devyani International Limited


Size of the Indian FMCG Industry

  • Fast-Moving Consumer Goods (FMCG) is India’s 4th largest sector.
  • Household and personal care products constitute 50% of this industry.
  • Around 31% of the remaining share is occupied by healthcare products, with food and beverage accounting for 19% of the total sales.
  • India’s FMCG market was valued at USD 110 billion in 2020.
  • In 2021, the industry’s sales grew by 16%, the highest in 9 years.
  • Between 2000 and 2022, this sector received Foreign Direct Investment (FDI) totaling USD 20.11 billion.

FMCG industry growth prospects

  • The FMCG industry is expected to grow at a rate of 14.9% to reach USD 220 billion by 2025.
  • Increasing online sales and expansion into the rural market are expected to drive the sector's growth.
  • India’s packaged food market is expected to reach USD 70 billion by 2025.

Britannia Industries Limited Growth Prospects

  • Britannia Industries Limited aims to grow its cheese products business to around ₹1,250 crore by 2027. This would be a five-fold jump from its current revenue of ₹250 crore.
  • It is planning to introduce two new product categories in FY2022-23 - cheese sachet and portions. Two more products are expected to be launched in FY2023-24.
  • The company has plans to invest ₹160 crore by 2025. It is in the process of constructing three new plants in Tirunelveli (Tamil Nadu), Bihar and Uttar Pradesh. Its new cheese manufacturing facility in Ranjangaon, Maharashtra, will go live in the middle of 2023.

Risks and concerns

  • High levels of inflation have harmed the company’s volume growth. Navigating price hikes in a struggling economy could prove to be a challenge.
  • Rising prices of raw materials like wheat and a disorganised cold chain infrastructure may hamper growth.
  • The COVID-19 pandemic brought about major shifts in consumer behavior. Keeping up demand and distribution through online business channels could pose a challenge.
  • The rural FMCG market has witnessed slow growth, making it difficult to expand geographically.


Britannia Industries Limited
Tel No.: 033 - 2287 2439 / 2287 2057
Fax No.: 033 - 2287 2501
E-mail ID:
Download Icon Download the Upstox App Today

Download Upstox Mobile App