Thought leadership: Q4 results: It was indeed a ‘Good-day’ for Britannia Industries
As the company announced their Q4 results on 2nd May, here’s what the Managing Director, Varun Berry, said during the conference call.
Britannia Industries is one of India’s leading food companies with a 100-year legacy and annual revenues above Rs 9000 crore. Britannia’s product portfolio includes Biscuits, Bread, Cakes, Rusk, and Dairy products including Cheese, Beverages, Milk and Yoghurt.
Company MD Varun Berry highlighted the following points during his opening remarks:
Berry said that all of us are aware of the challenges everyone has faced during the pandemic and also the ongoing crisis. However, in this environment, they continued to drive their revenue growth and they’ve been able to sustain their profitability as well.
He continued by saying that he was proud of the fact that they not only broadened the gap with their largest competitor this year but also achieved a continuous share growth for 10 consecutive years.
In terms of distribution, Varun Berry said that they are very efficient and progress-driven. Regarding cost leadership, he said that the team has done a fantastic job of creating opportunities and reducing costs.
From a supply chain standpoint, it’s the process of automation to improve productivity by reducing the distance to market, which helps them in cost reduction and eventually provides fresh products to the consumer along with a reduction in wastage. They are looking at a target of getting to 60% renewable energy and it's working well for them.
From a material standpoint, their sourcing strategy is focused on making sure to get the best bang for their buck. Varun Berry stated that their innovations have received a good response in the market and feel that their adjacent business is certainly going to ratchet up this year.
They are also working in the sustainability front by focusing on 4 pillars; 1) Women empowerment 2) Renewable Electricity 3) Elimination of plastic 4) Reduction of water usage.
Overall, the company is built on solid values and the management is discovering new areas for their customers as well as shareholders by tackling all the issues coming their way.
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