Bombay Burmah Trdg.

BENGALURU, May 13 (Reuters) - Diary of India economic, corporate events on May 13

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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Adds consultant comment in paragraph 5

By Chandini Monnappa

May 8 (Reuters) - Shares of India's Britannia Industries BRIT.NS declined as much as 5% to a three-week low on Friday, after the packaged goods maker said it would hike prices from the first quarter, citing a significant rise in freight costs linked to the Iran war.

Britannia shares were down 3.3% to 5,624 rupees at 10:15 IST, on track for their worst session in about a year-and-a-half, if losses hold. India's benchmark Nifty 50 .NSEI was down 0.5%.

Several Indian consumer goods makers have turned to price hikes to offset the hit from Iran war‑driven rise in input costs. Higher raw material prices, fuelled by the surge in crude, are pressuring margins.

Britannia has not specified the quantum of the planned price rise.

"Typically consumer firms tend to hike prices in the first quarter, but with everything that's happening, these hikes won't be enough to offset the actual impact of rising costs," consumer ⁠goods consultant Akshay D'Souza said.

For consumer goods firms, volume growth is critical, while they manage margins and focus on retaining market share, he said.

Late on Thursday, Britannia posted a more than 20% year-over-year rise in consolidated quarterly profit to 6.78 billion rupees ($71.8 million), largely in line analysts' estimates, according to data compiled by LSEG. However, sales growth slowed from the previous quarter.

The Good Day biscuit maker said would optimise sourcing between India and overseas plants for key markets to ease supply pressures by mid‑May.

($1 = 94.4250 Indian rupees)

(Reporting by Chandini Monnappa and Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)

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BENGALURU, May 7 (Reuters) - Diary of India economic, corporate events on May 7

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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March 27 (Reuters) -

• BOMBAY BURMAH TRADING CORPORATION LTD - SELLS DUNSANDLE ESTATE TEA PLANTATIONS FOR 1.20 BILLION RUPEES

Source text: ID:nBSE33NvCf

Further company coverage: BBRM.NS

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Feb 25 (Reuters) - Bombay Burmah Trading Corporation, Ltd BBRM.NS:

• REVISED TAX LIABILITY NOW 1.23 BILLION RUPEES

Source text: ID:nNSE5Vn2n9

Further company coverage: BBRM.NS

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Feb 13 (Reuters) - Bombay Burmah Trading Corporation, Ltd BBRM.NS:

• BOMBAY BURMAH TRADING CORPORATION LTD - DEC-QUARTER CONSOL NET PROFIT 3.16 BILLION RUPEES

• BOMBAY BURMAH TRADING CORPORATION LTD DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 50.66 BILLION RUPEES

Source text: [ID:]

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** Shares of Britannia Industries BRIT.NS rise 4.2% to 6,116 rupees, their biggest intraday-pct gain since May 2024

** Biscuit maker posts 17% rise in Q3 profit, helped by price hikes and tax cuts; rev up 8.2%

** Morgan Stanley says biscuit prices are still adjusting after the GST tax cut, and the market has not fully stabilised yet

** Nomura expects competitive intensive in the biscuits industry to ease in Q4, in turn improving co's sales growth momentum

** Stock rated "buy" on avg by 33 analysts; median PT 6,650 rupees - data compiled by LSEG

** Stock is largely flat YTD

(Reporting by Aleef Jahan in Bengaluru)

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Feb 10 (Reuters) - Indian biscuit maker Britannia Industries BRIT.NS reported a 17% rise in third-quarter profit on Tuesday, as tax cuts boosted demand.

The company, known for its Marie Gold and Good Day brand of biscuits, reported a consolidated net profit of 6.8 billion rupees ($75.12 million) for the quarter ended December 31, up from 5.82 billion rupees a year ago.

Analysts, on average, were expecting a profit of 6.64 billion rupees, according to LSEG data.

($1 = 90.5240 Indian rupees)

(Reporting by Komal Salecha in Bengaluru)

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Adds more details of quarterly results

Nov 5 (Reuters) - Indian biscuit maker Britannia Industries BRIT.NS reported a 23% rise in second-quarter profit and named former Birla Opus chief Rakshit Hargave as its CEO on Wednesday.

The news come as consumer goods makers in India are navigating a period of tax rate cuts and shifting demand trends, adding pressure to protect margins and sustain growth.

The maker of Jim Jam and NutriChoice biscuits said its consolidated net profit rose to 6.54 billion rupees ($74.4 million) in the July-September quarter, from 5.31 billion rupees a year earlier.

Net profit margins came in at 13.5%, versus 11.4% a year earlier, powered by price hikes. Brokerage Jefferies had estimated price hikes of 5% to 6% in the period.

Sales rose 4% to 47.52 billion rupees.

India had cut goods and services tax on several items in late September. Consumer goods firms faced short-term disruption in new orders as retailers rushed to clear higher-priced inventory ahead of the tax change.

NEW FACE AT THE HELM

Hargave will start his term as Britannia's CEO on December 15, succeeding Rajneet Kohli, who stepped down in March.

Earlier in the day, Hargave announced his resignation from Birla Opus, Grasim Industries' GRAS.NS paints unit.

Under his leadership, Birla Opus gave market leader Asian Paints ASPN.NS one of its biggest challenges in decades, cornering a significant market share in about a year of its launch in February 2024.

Hargave was at Grasim for four years. He has also worked with Indian units of consumer goods giant Unilever ULVR.L and pizza chain Domino's Pizza DPZ.O.

($1 = 87.8950 Indian rupees)

(Reporting by Hritam Mukherjee, Ananta Agarwal and Meenakshi Maidas in Bengaluru; Editing by Leroy Leo)

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** Analysts at Nomura and Jefferies say Colgate COLG.NS, Britannia Industries BRIT.NS and Nestle India NEST.NS will be the key beneficiaries of tax cuts on everyday items

** Government slashed rates to 5% on a wide range of everyday items including personal care products, household goods and packaged foods.

** Colgate, up 3.6%, was the top gainer on Nifty FMCG index .NIFTYFMCG which rose 0.7%

** Britannia, Dabur and Nestle were also among the top gainers on the index, gaining 3%, 2.2% and 1.7%, respectively

** Nomura expects 100% of COLG's portfolio to benefit from tax cuts, while Jefferies estimates that number to be 95%

** 85% of Britannia's portfolio to benefit - Nomura and Jefferies

** Analysts flag that around 70% of Nestle's and 50%-60% of Dabur's portfolio to benefit

** Median PT for Colgate is 2472 rupees, Britannia's at 5900 rupees; Nestle and Dabur at 1200 and 545 rupees, respectively - data complied by LSEG

(Reporting by Nishit Navin in Bengaluru)

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** Proposed reductions in India's goods and services tax (GST) will drive formalization of consumer goods industries, Nomura says

** Marico MRCO.NS, Tata Consumer TACN.NS and Britannia Industries BRIT.NS are brokerage's top picks

** BRIT, with 80% of revenue from biscuits and Colgate-Palmolive (India) with 80% revenue from toothpastes COLG.NS to benefit most from tax rate cut on staples to 5% from 18%

** Quick service restaurants, thanks to reduced tax on key material cheese, as well as snacks --Bikaji BIKA.NS-- and stationary makers --ITC ITC.NS-- to benefit most from tax rate cut to 5% from 12%

** Meanwhile, if GST rate on cigarettes rises to 40% and all other taxes are unchanged, Nomura argues this would lead to a roughly 7% increase in effective tax burden for companies like ITC, "which we believe will be passed on to consumers without any major backlash."

** However, ITC could see lower volumes if main GST rate as well as other taxes are raised on cigarettes -- Nomura

** Indian consumer stocks .NIFTYFMCG have risen 4% since Prime Minister Narendra Modi announced tax cut plans on August 15

(Reporting by Nandan Mandayam in Bengaluru)

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** Bank of America says company-specific factors, not GST cuts, are key for growth and earnings upgrades for consumer firms

** Nifty FMCG Index .NIFTYFMCG is up nearly 1%, driven by a near 4% rise in Britannia Industries BRIT.NS on hopes of GST cut on biscuits

** BofA says if only the 12% GST slab is subsumed with no change to 5% and 18% slabs, the direct impact would be limited

** But moving some categories from 18% slab to lower could imply higher upside

** Brokerage remains selective in the consumer space, prefers Titan TITN.NS among discretionaries; says risk/reward is favourable for Varun Beverages VARB.NS and United Breweries UBBW.NS

** Brokerage more cautious on Avenue Supermarts AVEU.NS and quick service restaurant stocks like Westlife Foodworld WEST.NS, Devyani International DEVY.NS and Sapphire Foods SAPI.NS

** FMCG index is down 1% in 2025 so far, lagging the benchmark Nifty 50's .NSEI 5% rise

(Reporting by Nandan Mandayam and Nishit Navin in Bengaluru)

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** Indian biscuit maker Britannia Industries BRIT.NS down ~2% to 5,523 rupees following Q1 results

** 'Bourbon' biscuits maker misses Q1 profit estimates as cost inflation in key commodities and high competition crimp margins

** Macquarie says Britannia's comments, pointing to a heightened competitive landscape across categories, are concerning

** Adds, EBITDA, which was flat y/y came below its estimates

** BRIT rated 'hold' on average by 34 analysts; media PT at 5,824, implying a 5.4% upside to current price - as per data compiled by LSEG

** YTD, Britannia shares up ~16%

(Reporting by Ananta Agarwal in Bengaluru)

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Rewrites throughout with more earnings commentary, background and details

Aug 5 (Reuters) - Britannia Industries BRIT.NS posted first-quarter profit below estimates on Tuesday, but the Indian biscuit maker said urban consumption — dull for a few quarters — is picking up.

The seller of 'Marie Gold' and 'Bourbon' biscuits joins other domestic consumer goods makers such as Hindustan Unilever HLL.NS and ITC ITC.NS in forecasting early signs of a recovery in urban demand, aided by easing local inflation.

India's annual retail inflation slowed every month in the quarter, easing to a six-year low in June at 2.1%. That helped spur a "marginal uptick in consumption across both urban and rural markets," said Varun Berry, managing director and chief executive.

Britannia's quarterly sales grew 9.8% to 45.35 billion rupees ($516.5 million). The firm had previously flagged rise in popular demand for packaged food and confectionery items such as croissants, wafers and flavoured shakes - usually more likely to be bought on impulse.

But total spends rose 10.4%, led by a 15% jump in raw material costs. Britannia has been hiking prices to partly offset the higher costs of raw materials such as cocoa, flour and palm oil.

Profits in the reported quarter came in at 5.21 billion rupees, up 3% on-year, but below analysts' average estimate of 5.7 billion rupees, according to data compiled by LSEG.

($1 = 87.8100 Indian rupees)

(Reporting by Ananta Agarwal and Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman and Sahal Muhammed)

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** Britannia Industries BRIT.NS climb 0.8%; consumer goods and benchmark indexes down over 1%

** Biscuit maker's Q4 profit rises due to price hikes, which Nomura pegs at 6%

** Brokerages say 9% rev growth of 9% largely met estimates, while profit growth of 4% beat view

** Most analysts hold ratings; avg rating is equivalent to "buy", similar to most on 15-member Nifty FMCG .NIFTYFMCG

** Stock has gained 15% YTD, second-highest on index that is down 2.4% this year

(Reporting by Nandan Mandayam in Bengaluru)

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** India's Eternal ZOMT.NS, earlier known as Zomato, and Jio Financial Services JIOF.NS to see net inflows of $591 million on entry in benchmark Nifty 50 .NSEI, says Nuvama

** ZOMT and JIOF to get $391 mln and $200 mln inflows, respectively, while replacements Britannia Industries BRIT.NS and Bharat Petroleum BPCL.NS to see net outflows of $153 mln and $145 mln, respectively

** Changes effective close of March 27; changes in key indexes affects positioning of passive funds

** Indian Hotels IHTL.NS to see $85 mln inflows on Nifty Next 50 .NN50 inclusion and Power Grid Corp of India PGRD.NS to see $49 mln inflows on CPSE index .NICPSE inclusion, as per Nuvama

** IHTL and PGRD up 1% and 1.4%, respectively, on the day, while JIOF flat and ZOMT falls 2%

(Reporting by Vivek Kumar M)

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March 24 (Reuters) - Indian biscuit maker Britannia Industries <BRIT.NS> said on Monday that operations at its Jhagadia plant in Gujarat have been partially affected due to a strike.

The company is in continuous discussions with workers to resolve the strike, which began on Monday, the company said in an exchange filing.

The impact is still being assessed, Britannia said, but stopped short of disclosing details such as the number of workers on strike or the facility's contribution to overall revenue when Reuters reached out for comment.

Britannia has about a dozen plants in India, according to the company's latest annual report.

Shares of the company had closed 0.4% lower on Monday.

(Reporting by Praveen Paramasivam in Chennai and Ashish Chandra in Bengaluru; Editing by Shailesh Kuber)

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March 17 (Reuters) - Bombay Burmah Trading Corporation, Ltd BBRM.NS:

• BOARD APPROVES SALE OF LAND IN TAMIL NADU TO ANNAI GROUP

Source text: ID:nBSE17gHMQ

Further company coverage: BBRM.NS

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Adds details, background throughout

March 6 (Reuters) - Indian biscuit maker Britannia Industries BRIT.NS said on Thursday that its Chief Executive Officer Rajneet Singh Kohli has resigned after serving two-and-a-half years in the role.

Britannia did not name Kohli's successor, but said he will be relieved from the role on March 14, as per his request.

Kohli, who joined as Britannia's CEO in September 2022, did not disclose the exact reason for stepping down, but said in his resignation letter that he will "pursue an external opportunity".

Before joining Britannia, the 50-year-old had held leadership roles at major firms like Domino's India, run by Jubilant Foodworks JUBI.NS, Asian Paints ASPN.NS and U.S. beverage giant Coca-Cola Co KO.N.

Under Kohli's leadership, the biscuit maker's shares rose nearly 25% as it focused on product diversification, entering the healthy food segment, and expanding manufacturing plants in the eastern Indian states of Odisha and Bihar.

Britannia's shares erased early-session gains after the news. They were last trading 0.6% lower as of 3:20 p.m. IST.

The company has in the recent months benefited from price hikes to counter rising input costs, helping it beat its latest third-quarter profit estimates.

(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala and Sonia Cheema)

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** Shares of Indian biscuit maker Britannia Industries BRIT.NS up as much as 2.2% on Q3 results to 5065 rupees

** Co reports 6% volume growth y/y in despite "ongoing subdued demand" and "increased competitive pressures"

** Net profit growth of 4.8% aided by lower employee costs and advertising spends, analysts say

** Gross margin contraction of more than 500bps higher than expected due to inflation in key commodities - JPMorgan

** Analysts see green shoots from trade promotions and distribution network expansion aiding volume growth amid ongoing margin pressure

** Stock rated "Hold" on avg by 33 analysts - LSEG

** Avg PT of 5421.88 rupees provides a 7.7% upside to current stock price

(Reporting by Ananta Agarwal in Bengaluru)

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Feb 6 (Reuters) - Indian biscuit maker Britannia Industries BRIT.NS beat third-quarter profit estimates on Thursday, as price hikes helped offset the impact of rise in commodity prices.

The company, which sells 'Jim Jam' and 'NutriChoice' biscuits, reported a 5% increase in consolidated net profit to 5.82 billion rupees ($66.43 million) for the three months ended December 31.

Analysts, on average, had expected a profit of 5.21 billion rupees, according to estimates compiled by LSEG.

($1 = 87.6130 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru and Praveen Paramasivam in Chennai; Editing by Mrigank Dhaniwala)

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Jan 10 (Reuters) -

• BOMBAY BURMAH TRADING CO, 17 OTHERS SETTLE WITH SEBI FOR VIOLATION OF ACQUISITIONS,TAKEOVERS REGULATION

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** Shares of Britannia Industries Ltd BRIT.NS down 13.8% in November, set for their biggest monthly drop since June 2006

** Stock currently up 0.2% at 4,934.95 rupees

** BRIT among top 5 biggest monthly pct losers on blue-chip Nifty 50 index as well as FMCG stocks .NIFTYFMCG that are down 1.2% and 2.5%

** BRIT reported smaller-than-expected Q2 profit in mid-Nov due to poor demand from inflation-wary urban customers, sending its shares down by more than 12% in two sessions

** Downbeat results also led stock to its worst week in 24 years; the stock was up by just 0.35% on the day before the results

** Avg rating on stock has fallen to "hold" from "buy" following post-results downgrades - LSEG

** Stock has 13 "hold" ratings, its most in at least two years

** YTD, BRIT down ~8%, among worst-performing stocks on Nifty 50 and Nifty FMCG index that are up 11% and ~2%, respectively

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of consumer goods maker Britannia Industries BRIT.NS fall 1.9% to 4,798.5 rupees, their lowest level since early-May

** BRIT top loser on Nifty FMCG index .NIFTYFMCG, which is down 0.5%

** Co on Tuesday said the Food Safety and Standards Authority of India (FSSAI) issued a notice over the use of a preservative in one of the batches of its product

** Co did not disclose which product was flagged by FSSAI, but says it expects no material impact on financials or operations

** More than 448,000 shares change hands, 1.1x its 30-day avg

** Avg rating of 33 analysts is a "hold"; median PT at 5,435 rupees - LSEG data

** BRIT is down 16% this month, on track for its worst month since June 2006

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Britannia Industries BRIT.NS falls 2.5% to 4,920 rupees, lowest in six months

** Stock down 14% this week, set for worst week since January 2000

** BRIT top loser and worst performing stock this week on the benchmark Nifty 50 index .NSEI, which is down 0.04%

** Indian markets are closed on Friday for a holiday

** Consumer goods major posted smaller-than-expected Q2 profit and rev on Monday amid slump in urban consumption

** At least 24 analysts slash PT post results; four downgrade rating

** BRIT rated "hold" on avg now vs "buy" before results; median PT now at 5,450 rupees vs 5,800 rupees earlier - LSEG

** Stock down ~8% YTD

(Reporting by Ashna Teresa Britto in Bengaluru)

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Corrects bullet 2 to say only the Nifty 50 had fallen for three straight sessions, not the Nifty and Sensex

** India's NSE Nifty .NSEI and BSE Sensex .BSESN fall 0.1% each in afternoon trading

** Benchmarks swung between narrow gains and losses after opening about 0.3% higher; the Nifty 50 .NSEI had fallen in the previous 3 sessions

** Nifty has sunk 8% from record high on Sept. 27 amid disappointing earnings and foreign outflows (~$14 bln since Oct start)

** Continuous foreign outflows continue to keep investors cautious, expect sell-off to continue till end of 2024, says Aishvarya Dadheech, founder and CEO of Fident Asset Management

** Biscuit-maker Britannia Industries BRIT.NS drops 5%, most on Nifty, on Q2 profit miss, indicating weak urban demand

** Amid that, focus on Oct inflation after the bell, which is expected to have hit 14-month high of 5.81%, per Reuters poll

** Data will be parsed for clues on economic health and the case for a rate cut in Dec, says Ajit Mishra, senior VP of research at Religare Broking

(Reporting by Hritam Mukherjee in Bengaluru)

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Adds revenue, background in paragraphs 4-8

Nov 11 (Reuters) - Indian biscuit maker Britannia Industries BRIT.NS posted a smaller-than-expected second-quarter profit on Monday, hurt by weaker demand for consumer goods, particularly in urban areas amid high inflation.

The company, which sells Jim Jam and NutriChoice biscuits, reported a nearly 10% decline in consolidated net profit to 5.31 billion rupees ($62.95 million) for the three months ended Sept. 30, missing estimates.

Analysts, on average, had expected 6.22 billion rupees, according to estimates compiled by LSEG.

Urban consumers in the world's most populous country have been cutting back on spending due to rising prices of essentials, including food, squeezing the bottom lines of major packaged goods makers.

There was "tepid consumer demand" in most packaged consumer goods categories and "severe commodity inflation," Managing Director Varun Berry said, echoing comments made by many of the firm's counterparts, including Nestle India NEST.NS.

The company's earnings are in line with the downbeat results posted by its peers, such as Dove soap maker Hindustan Unilever HLL.NS, Maggi-parent Nestle India, and tobacco major ITC ITC.NS, which were hurt by factors including weak urban demand.

Britannia's revenue rose 5% to 46.68 billion rupees, but slowed from a 6% increase in the previous quarter and missed market expectations of 47.39 billion rupees, according to estimates compiled by LSEG.

The company's total expenses rose by 8% during the quarter, hurt by higher prices of ingredients such as wheat and cocoa.

($1 = 84.3580 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru and Praveen Paramasivam in Chennai; Editing by Abinaya Vijayaraghavan)

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** Shares of Bombay Burmah Trading Corp BBRM.NS down 1.6% at 1,601.25 rupees

** Wadia Group-owned co said on Thursday Maharashtra state tax authority initated search at co's office

** Stock had fallen as much as 2.7% before paring some losses

** BBRM on track for first monthly decline since Aug. 2023 if trend holds; down 8.5% so far in March

(Reporting by Varun Vyas in Bengaluru)

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March 14 (Reuters) - Bombay Burmah Trading Corporation Ltd BBRM.NS:

• ASSISTANT COMMISSIONER OF STATE TAX, MAHARASHTRA INITIATED SEARCH AT CORPORATION'S REGISTERED OFFICE

• SEARCH UNDER SECTION 67 OF MAHARASHTRA GOODS AND SERVICES TAX ACT, 2017

Source text for Eikon: ID:nBSEblG9Pj

Further company coverage: BBRM.NS

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