Britannia share price: Sharekhan maintains Buy on Britannia with price target of Rs 4200
Sharekhan says that Britannia’s Q4FY2021 results were mixed. Revenue grew by a high single digit, while OPM expanded moderately by 30 bps to 16.1%. PAT declined by 3% (due to higher tax incidence). The company’s revenue for the quarter grew by 9% yoy to Rs 3131 cr (largely in-line with our expectation of Rs 3100 cr). Domestic volume growth stood at 8%, slightly better than our as well street expectation of 6%
Sharekhan explains that Britannia is well prepared in terms of production and distribution of products in the second surge of COVID-19 cases compared to the first wave: Reuters