BRITANNIA INDUSTRIES LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4,800 INR | -0.90% |
|
+2.83% | -10.08% |
| Apr. 22 | PREVIEW-India's consumer goods makers to see more delays in recovery | RE |
| Apr. 03 | INDIA STOCKS-Indian shares swept up in Asia-wide fears of delayed US rate cuts | RE |
Valuation
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 741,502 | 646,607 | 873,160 | 772,320 | 1,041,069 | 1,156,276 | - | - |
| Enterprise Value (EV) 1 | 733,017 | 648,134 | 874,008 | 786,946 | 1,051,053 | 1,163,379 | 1,156,743 | 1,149,607 |
| P/E ratio | 64 x | 46.1 x | 46.8 x | 50.6 x | 44.8 x | 53.5 x | 48 x | 42.8 x |
| Yield | 0.49% | 1.3% | 1.71% | 1.76% | 1.67% | 1.51% | 1.68% | 1.83% |
| Capitalization / Revenue | 6.71 x | 5.57 x | 6.65 x | 5.46 x | 6.39 x | 6.86 x | 6.25 x | 5.67 x |
| EV / Revenue | 6.63 x | 5.59 x | 6.65 x | 5.57 x | 6.45 x | 6.91 x | 6.25 x | 5.64 x |
| EV / EBITDA | 42.3 x | 35.2 x | 34.8 x | 35.7 x | 37.1 x | 36.6 x | 33.1 x | 29.6 x |
| EV / FCF | 97.1 x | 52.3 x | 54.3 x | 105 x | 58 x | 59.4 x | 47.9 x | 44.4 x |
| FCF Yield | 1.03% | 1.91% | 1.84% | 0.95% | 1.73% | 1.68% | 2.09% | 2.25% |
| Price to Book | 17.4 x | 14.7 x | 24.6 x | 30.2 x | 29.5 x | 27.7 x | 23.3 x | 19.4 x |
| Nbr of stocks (in thousands) | 240,318 | 240,468 | 240,868 | 240,868 | 240,868 | 240,868 | - | - |
| Reference price 2 | 3,086 | 2,689 | 3,625 | 3,206 | 4,322 | 4,800 | 4,800 | 4,800 |
| Announcement Date | 5/1/19 | 6/2/20 | 4/27/21 | 5/2/22 | 5/5/23 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 110,547 | 115,996 | 131,361 | 141,363 | 163,006 | 168,442 | 185,144 | 203,859 |
| EBITDA 1 | 17,324 | 18,432 | 25,093 | 22,015 | 28,309 | 31,781 | 34,998 | 38,843 |
| EBIT 1 | 15,706 | 16,584 | 23,114 | 20,010 | 26,050 | 28,845 | 31,775 | 35,567 |
| Operating Margin | 14.21% | 14.3% | 17.6% | 14.15% | 15.98% | 17.12% | 17.16% | 17.45% |
| Earnings before Tax (EBT) 1 | 17,679 | 18,443 | 25,136 | 20,783 | 30,274 | 29,273 | 32,532 | 36,372 |
| Net income 1 | 11,591 | 14,026 | 18,639 | 15,248 | 23,218 | 21,618 | 24,078 | 26,954 |
| Net margin | 10.49% | 12.09% | 14.19% | 10.79% | 14.24% | 12.83% | 13% | 13.22% |
| EPS 2 | 48.21 | 58.34 | 77.40 | 63.31 | 96.39 | 89.70 | 100.0 | 112.1 |
| Free Cash Flow 1 | 7,546 | 12,404 | 16,090 | 7,493 | 18,133 | 19,592 | 24,133 | 25,911 |
| FCF margin | 6.83% | 10.69% | 12.25% | 5.3% | 11.12% | 11.63% | 13.03% | 12.71% |
| FCF Conversion (EBITDA) | 43.56% | 67.29% | 64.12% | 34.04% | 64.05% | 61.65% | 68.95% | 66.71% |
| FCF Conversion (Net income) | 65.1% | 88.43% | 86.32% | 49.14% | 78.1% | 90.63% | 100.23% | 96.13% |
| Dividend per Share 2 | 15.00 | 35.00 | 62.00 | 56.50 | 72.00 | 72.35 | 80.74 | 87.71 |
| Announcement Date | 5/1/19 | 6/2/20 | 4/27/21 | 5/2/22 | 5/5/23 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 31,656 | 31,308 | 34,035 | 36,074 | 35,750 | 35,504 | 37,010 | 43,796 | 41,968 | 40,232 | 40,107 | 45,272 | 42,979 | 41,136 | - |
| EBITDA 1 | 6,115 | 5,054 | 5,538 | 5,583 | 5,397 | 5,497 | 5,007 | 7,117 | 8,176 | 8,009 | 6,889 | 7,978 | 8,220 | 7,876 | - |
| EBIT 1 | 5,629 | 4,526 | 5,047 | 5,082 | 4,893 | 4,988 | 4,496 | 6,600 | 7,596 | 7,356 | 6,181 | 6,972 | 7,500 | 7,007 | - |
| Operating Margin | 17.78% | 14.46% | 14.83% | 14.09% | 13.69% | 14.05% | 12.15% | 15.07% | 18.1% | 18.28% | 15.41% | 15.4% | 17.45% | 17.03% | - |
| Earnings before Tax (EBT) 1 | 6,137 | 4,926 | 5,312 | 5,228 | 5,054 | 5,189 | 4,632 | 6,592 | 11,478 | 7,571 | 6,220 | 7,412 | 7,549 | 7,278 | - |
| Net income 1 | 4,558 | 3,643 | 3,896 | 3,842 | 3,712 | 3,799 | 3,374 | 4,933 | 9,324 | 5,587 | 4,576 | 5,454 | 5,604 | 5,540 | - |
| Net margin | 14.4% | 11.64% | 11.45% | 10.65% | 10.38% | 10.7% | 9.12% | 11.26% | 22.22% | 13.89% | 11.41% | 12.05% | 13.04% | 13.47% | - |
| EPS 2 | 18.92 | 15.12 | 16.17 | 15.95 | 15.41 | 15.77 | 14.01 | 20.48 | 38.71 | 23.19 | 19.00 | 21.86 | 22.31 | 22.99 | - |
| Dividend per Share 2 | - | 62.00 | - | - | - | 56.50 | - | - | - | 72.00 | - | - | - | 67.34 | - |
| Announcement Date | 2/5/21 | 4/27/21 | 7/30/21 | 11/8/21 | 1/28/22 | 5/2/22 | 8/4/22 | 11/4/22 | 2/1/23 | 5/5/23 | 8/4/23 | - | - | - | - |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 1,527 | 848 | 14,626 | 9,984 | 7,103 | 467 | - |
| Net Cash position 1 | 8,485 | - | - | - | - | - | - | 6,669 |
| Leverage (Debt/EBITDA) | - | 0.0828 x | 0.0338 x | 0.6643 x | 0.3527 x | 0.2235 x | 0.0133 x | - |
| Free Cash Flow 1 | 7,546 | 12,404 | 16,090 | 7,493 | 18,133 | 19,592 | 24,133 | 25,911 |
| ROE (net income / shareholders' equity) | 30.3% | 32.4% | 46.9% | 49.9% | 66.8% | 55.2% | 52% | 49.6% |
| ROA (Net income/ Total Assets) | 20.3% | 19.9% | 23.5% | 19.6% | 24.1% | 22.9% | 23.6% | 24.6% |
| Assets 1 | 57,156 | 70,420 | 79,255 | 77,621 | 96,299 | 94,384 | 101,821 | 109,498 |
| Book Value Per Share 2 | 177.0 | 183.0 | 147.0 | 106.0 | 147.0 | 173.0 | 206.0 | 248.0 |
| Cash Flow per Share 2 | 48.10 | 61.70 | 76.90 | 54.00 | 105.0 | 102.0 | 115.0 | 132.0 |
| Capex 1 | 4,012 | 2,442 | 2,421 | 5,502 | 7,129 | 4,677 | 3,685 | 3,893 |
| Capex / Sales | 3.63% | 2.1% | 1.84% | 3.89% | 4.37% | 2.78% | 1.99% | 1.91% |
| Announcement Date | 5/1/19 | 6/2/20 | 4/27/21 | 5/2/22 | 5/5/23 | - | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
36
Last Close Price
4,800
INR
Average target price
5,300
INR
Spread / Average Target
+10.40%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -10.08% | 13.86B | |
| +3.35% | 2.63B | |
| -11.21% | 2.25B | |
| +32.87% | 1.56B | |
| +34.64% | 1.25B | |
| +10.37% | 870M | |
| 0.00% | 620M | |
| -27.98% | 344M | |
| +2.77% | 172M | |
| +5.73% | 139M |
- Stock Market
- Equities
- BRITANNIA Stock
- Financials Britannia Industries Limited
