Britannia Industries
Consolidated Profit & Loss account ------------------- in Rs. Cr. -------------------
Mar 19 Mar-18
12 mths 12 mths
INCOME
Revenue from Operations [Net of Excise] 10,973.46 9,829.52
Other Operating Revenues 81.21 84.47
Total Operating Revenues 11,054.67 9,913.99
Other Income 206.45 166.37
Total Revenue 11,261.12 10,080.36
EXPENSES
Cost of Materials Consumed 5,513.01 4,906.08
Purchase of Stock-In Trade 1,103.63 1,194.72
Changes In Inventories of FG,WIP And Stock-In Trade -55.18 6.3
TOAL COST OF MATERIALS 6,561.46 6,107.10 0.00
Employee Benefit Expenses 441.82 401.6
Finance Costs 9.09 7.59
Depreciation and Amortisation Expenses 161.88 142.07
Other Expenses 2,317.97 1,903.64
Total Expenses 9,492.22 8,562.00
Profit Before Profit/Loss of Associates 1,768.90 1,518.36
Share Of Profit/Loss Of Associates -0.97 -0.18
Profit Before Tax 1,767.93 1,518.18
Tax Expenses:
Current Tax 599.78 513.68
Less: MAT Credit Entitlement 0 0
Deferred Tax 12.69 0.54
Total Tax Expenses 612.47 514.22
Profit After Tax 1,155.46 1,003.96
Earnings per share (face value of INR 1 each):
Basic [in INR] 48.25 41.83
Diluted [in `] 48.21 41.8
Britannia Industries
Consolidated Balance Sheet ------------------- in Rs. Cr. -------------------
Mar 19 Mar-18 Mar-17
12 mths 12 mths 12 mths
EQUITIES AND LIABILITIES
SHAREHOLDER'S FUNDS
Equity Share Capital
24.03 24.01 24
[Face Value INR 1.00 each]
Total Share Capital 24.03 24.01 24
Reserves and Surplus 4,229.22 3,382.22 2,672.42
Total Reserves and Surplus 4,229.22 3,382.22 2,672.42
Total Shareholders Funds 4,253.25 3,406.23 2,696.42
Government/Other Grants 0 0 0
Minority Interest 32.68 13.14 2.6
NON-CURRENT LIABILITIES
Long Term Borrowings 61.92 84.57 31.4
Deferred Tax Liabilities [Net] 3.87 0 0
Other Long Term Liabilities 27.24 27.14 25.36
Long Term Provisions 11.45 8.87 7.62
Total Non-Current Liabilities 104.48 120.58 64.38
CURRENT LIABILITIES
Short Term Borrowings 76.1 93.65 84.31
Trade Payables 1,140.51 994.09 757.31
Other Current Liabilities 438.29 381.26 321.32
Short Term Provisions 196.51 178.97 182.46
Total Current Liabilities 1,851.41 1,647.97 1,345.40
Total Capital And Liabilities 6,241.82 5,187.92 4,108.80
ASSETS
NON-CURRENT ASSETS
Tangible Assets 1,550.31 1,209.43 1,020.54
Intangible Assets 7.62 7.97 11.61
Capital Work-In-Progress 101.24 202.82 30.07
Fixed Assets 1,659.17 1,420.22 1,062.22
Non-Current Investments 726.4 222.48 312
Deferred Tax Assets [Net] 13.75 22.57 23.11
Long Term Loans And Advances 19.02 134.24 45.92
Other Non-Current Assets 166.77 108.93 198.47
Total Non-Current Assets 2,715.48 2,036.64 1,769.56
CURRENT ASSETS
Current Investments 749.88 856.8 174.85
Inventories 781.38 652.79 661.45
Trade Receivables 394.24 304.6 179.16
Cash And Cash Equivalents 109.82 186.42 120.76
Short Term Loans And Advances 1,203.92 844.34 829.1
OtherCurrentAssets 287.1 306.33 373.92
Total Current Assets 3,526.34 3,151.28 2,339.24
Total Assets 6,241.82 5,187.92 4,108.80
Horizontal Analysis
-------------- CHANGE IN 2019 OVER 2018
Mar-17 Mar-16 Mar-15 INR Cr %age
12 mths 12 mths 12 mths
8,962.28 8,325.44 7,775.09 1,143.94 11.64
91.81 71.79 83.33 -3.26 -3.86
9,054.09 8,397.23 7,858.42 1,140.68 11.51
150.54 124.35 87.96 40.08 24.09
9,204.63 8,521.58 7,946.38 1,180.76 11.71
4,839.57 4,331.49 4,119.97 606.93 12.37
803.31 685.5 602.24 -91.09 -7.62
-54.2 -4.27 -30.4 -61.48 -975.87
5,588.68 5,012.72 4,691.81 454.36 7.44
352.61 341.36 280.58 40.22 10.01
5.45 4.87 3.86 1.50 19.76
119.27 113.41 144.48 19.81 13.94
1,834.62 1,828.76 1,876.06 414.33 21.77
7,900.63 7,301.12 6,996.79 930.22 10.86
1,304.00 1,220.46 949.59 250.54 16.50
0.28 0.22 0.21 -0.79 438.89
1,304.28 1,220.68 949.8 249.75 16.45
401.87 396.66 293.28 86.10 16.76
0 0 6.13
17.8 -0.56 -26.04 12.15 2250.00
419.67 396.1 261.11 98.25 19.11
884.61 824.58 688.69 151.50 15.09
-------------- FINANCIAL RATIO
Mar-16 Mar-15 RATIO Mar-19 Mar-18 Mar-17
12 mths 12 mths
liquidity
Current Ratio 1.90 1.91 1.74
24 23.99
Quick Ratio 1.48 1.52 1.25
24 23.99
2,067.68 1,217.55 profit margin
2,067.68 1,217.55
2,091.68 1,241.54 PBT TO TR 16.11096
0 3.57 PAT TO TR 10.53
2.46 2.43
financial leverage
37.68 43.33
0 0 Asset Financing 1.47 1.52 1.52
25.42 19.96
6.83 5.65 Efficience to leverage
69.93 68.94
TR TO TA 1.80 1.94 2.24
86.13 96.88
769.08 703.42
299.6 259.45
175.03 417.12
1,329.84 1,476.87
3,493.91 2,793.35
821 720.63
13.33 12.76
90.07 48.37
924.4 781.76
372.64 77.06
44.4 23.35
195.22 90.35
117.22 37.17
1,769.79 1,120.37
415.74 440.88
440.65 404.04
170.61 135.81
87.65 226.33
459.28 465.92
150.19 0
1,724.12 1,672.98
3,493.91 2,793.35
COMMON SIZE ANALYSIS TREND ANALYSIS
CONSOLIDATED PROFIT & LOSS
Mar-19 Mar-18 Mar-17 Mar-16 Mar-15 Mar-19 Mar-18
97.45 97.51 97.37 97.70 97.84 141.14 126.42
0.72 0.84 1.00 0.84 1.05 97.46 101.37
98.17 98.35 98.36 98.54 98.89
1.83 1.65 1.64 1.46 1.11
100.00 100.00 100.00 100.00 100.00
48.96 48.67 52.58 50.83 51.85
9.80 11.85 8.73 8.04 7.58
-0.49 0.06 -0.59 -0.05 -0.38
58.27 60.58 60.72 58.82 59.04
3.92 3.98 3.83 4.01 3.53
0.08 0.08 0.06 0.06 0.05 235.49 196.63
1.44 1.41 1.30 1.33 1.82
20.58 18.88 19.93 21.46 23.61
84.29 84.94 85.83 85.68 88.05
15.71 15.06 14.17 14.32 11.95
-0.01 0.00 0.00 0.00 0.00
15.70 15.06 14.17 14.32 11.95
5.33 5.10 4.37 4.65 3.69
0.11 0.01 0.19 -0.01 -0.33
5.44 5.10 4.56 4.65 3.29
10.26 9.96 9.61 9.68 8.67
Mar-16 Mar-15 COMMENT
1.30 1.13 GOOD
0.97 0.86 GOOD
1.67 2.25
2.44 2.84
TREND ANALYSIS CAGR BY RRI Fx
OVER 2015-19
Mar-17 Mar-16 Mar-15
115.27 107.08 100.00 9
110.18 86.15 100.00 -0.64
8.91
23.77
9.11
7.55
16.35
16.07
8.75
12.02
141.19 126.17 100 23.88
2.88
5.43
7.92
16.83
16.80
19.59
-100.00
23.76
