BRITAANNIA INDUSTRIES LTD = QUARTERLY RESULTS = FOR Q3 FY 2012 = Q/E DEC,2011 = NET SALES UP 15.5%; NPT UP 44.8% YoY

Britannia Industries Limited

NSE Symbol        BRITANNIA

BRITANNIA INDUSTRIES LTD  has declared its results for the third quarter ending Dec,2011.

Net Sales in Q3 FY 12 stands at Rs.1247.41 cr – down by  -3.61% from Q2 FY 12 (previous Qtr); and up by 12.76% from Q1 FY 12(1st qtr); and up by  15.5% from Q3 FY 11 (the corresponding Qtr).

Raw Materials consumption in Q3 FY 12 stands at Rs.658.60 Cr – down by -8.64 % from Q2 FY 12 (previous Qtr); and up by 6.14% from Q1 FY 12(1st qtr); and up by  7.68% from Q3 FY 11 (the corresponding Qtr).

Traded Goods in Q3 FY 12 stands at Rs.139.40 Cr – down by -0.99% from Q2 FY 12 (previous Qtr); and up by  19.78% from Q1 FY 12(1st qtr); and up by  26.53% from Q3 FY 11 (the corresponding Qtr).

Other Expenditure  in Q3 FY 12 stands at Rs.341.27 Cr – down by -0.52% from Q2 FY 12 (previous Qtr); and up by 13.97% from Q1 FY 12(1st qtr); and up by  23.34% from Q3 FY 11 (the corresponding Qtr).

Total Expenditure in Q3 FY 12 stands at Rs.  1178 Cr – down by -5.27 from Q2 FY 12 (previous Qtr); and up by     10.43% from Q1 FY 12(1st qtr); and up by      13.78% from Q3 FY 11 (the corresponding Qtr).

Profit from Operations in Q3 FY 12 stands at Rs.7110 Cr – up by 36.39% from Q2 FY 12; and up by 74.39% from Q1 FY 12(1st qtr); and up by  49.56% from Q3 FY 11 (the corresponding Qtr). Expenditure has grown less than proportionately compared to Sales and has contributed to good Growth in profits.

Profit before tax in Q3 FY 12 stands at Rs.7470 Cr – up by 43.79% from Q2 FY 12; and up by 30.41% from Q1 FY 12(1st qtr); and up by  47.08% from Q3 FY 11 (the corresponding Qtr).

Tax expense in Q3 FY 12 stands at Rs.  2063 Cr – up by 46.31% from Q2 FY 12 (Previous qtr); up by 33.27% from Q1 FY 12(1st qtr); and up by  53.38% from Q3 FY 11 (the corresponding Qtr).

Net Profit in Q3 FY 12 stands at Rs.5407 Cr – up by a GOOD 42.85% from Q2 FY 12 (Previous qtr); up by 29.35% from Q1 FY 12(1st qtr); and up by  44.8% from Q3 FY 11 (the corresponding Qtr).

Face Value is  Rs.2 and  Paid Up Equity is Rs.23.89 Cr

Basic EPS  in Q3 FY 12 stands at Rs.4.53; at Rs.3.17 in Q2 FY 12; Rs.3.5 in Q1 FY 12; and Rs.3.13 I Q3 FY 11.

Annual EPS on this Basis will be around Rs.15.73.

Current Market Price (at FV of Rs.2) is  Rs.519;   While the 52 week high price is Rs.512 and the  52 week low price  is Rs.295.20.

The PE ratio is 32.99.

OTHER DETAILS

The YTD Dec,2011 Revenue is Rs.3647.8 Cr – a growth of 18.2% and NPT of Rs.133.7 cr an increase of 31%

YTD Dec,2011 consolidated sales is Rs.4012.1 Cr up by 19.1% and consolidated Net profit is Rs.138.3 cr, up by 43.5%.

Britannia says – it has launched a range of Savory products – Nutrichoice Multigrain thins, Nutrichoice Mutigrain Roasty and 50-50 snackuits, which provide healthy snacking options.

RESULTS TABLE

(STAND ALONE)

Britannia Ind	31-Dec-11	30-Sep-11	%Dif1	30-Jun-11	%Dif1	31-Dec-10	%Dif3
Net Sales	124741	129414	-3.61	110629	12.76	107997	15.5
Other Operating Income	169	154	9.74	126	34.13	289	-41.52
Increase in SIT / WIP	-705	-2081	-66.1	-1119	-37	-322	118.94
Raw Materials	65860	72085	-8.64	62048	6.14	61160	7.68
Traded Goods	13940	14080	-0.99	11638	19.78	11017	26.53
Employees Cost	3362	4811	-30.1	3057	9.98	2949	14
Depreciation	1216	1155	5.28	1109	9.65	1058	14.93
Other Expenditure	34127	34305	-0.52	29945	13.97	27670	23.34
Total Expenditure	117800	124355	-5.27	106678	10.43	103532	13.78
Profit from Operations	7110	5213	36.39	4077	74.39	4754	49.56
Other Income	1313	950	38.21	2582	-49.2	1282	2.42
Interest	953	968	-1.55	931	2.36	957	-0.42
Profit before tax	7470	5195	43.79	5728	30.41	5079	47.08
Tax expense	2063	1410	46.31	1548	33.27	1345	53.38
Net Profit	5407	3785	42.85	4180	29.35	3734	44.8
Face Value (In Rs	2	2	0	2	0	2	0
Paid Up Equity	2389	2389	0	2389	0	2389	0
Basic EPS	4.53	3.17	42.9	3.5	29.43	3.13	44.73
Diluted EPS	4.52	3.17	42.59	3.5	29.14	3.12	44.87
Public holding (%)	49.04	49.04	0	49.04	0	49.04	0

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