Britannia Share price: Sharekhan maintains Buy rating with an unchanged price target of Rs 4200
Britannia Industries' Q3 FY21 results were mixed, with revenues growing in mid-single digits, while a strong 249 bps rise in OPM drove up PAT by 23%. Revenue grew by 6.1% yoy to Rs 3166 cr (lower than our expectation of Rs 3259 cr). Domestic volumes grew by 4-5% as against ours and the street’s expectation of 6-8%. The general trade and rural markets are growing ahead of pre-COVID levels, while urban markets are recovering.
Sharekhan maintains Buy rating on Britannia with an unchanged price target of Rs 4200: Image taken from companies website