JM Financial, a prominent financial services firm, has issued a buy recommendation for Britannia Industries Ltd., with a target price of Rs 5270. Currently, Britannia Industries Ltd. is trading at a market price of Rs 4518.
Britannia Industries Ltd., established in the year 1918, operates as a Large Cap company within the FMCG (Fast-Moving Consumer Goods) sector. The company boasts a substantial market capitalization of Rs 108,844.77 Crore.
Key Products/Revenue Segments for Britannia Industries Ltd. encompass Food Products, Other Operating Revenue, Scrap, and Royalty Income for the fiscal year ending on March 31, 2022.
In the financial quarter concluding on June 30, 2023, Britannia Industries reported a Consolidated Total Income of Rs 4064.63 Crore. This figure represents a slight decline of -0.37% compared to the Total Income of Rs 4079.55 Crore in the preceding quarter. However, it signifies a notable increase of 8.20% compared to the Total Income of Rs 3756.46 Crore in the same quarter of the previous year. Furthermore, the company achieved a net profit after tax amounting to Rs 452.46 Crore during the latest quarter.
As of June 30, 2023, the promoters held a 50.55% stake in Britannia Industries, while FIIs (Foreign Institutional Investors) owned 21.29%, and DIIs (Domestic Institutional Investors) held 6.5% of the company.
JM Financial’s buy recommendation for Britannia Industries suggests a positive outlook on the stock and underscores the potential for growth, offering investors an opportunity to consider.
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