BRITANNIA / Q1-FY25 / claim-ledger

Audit the questions that mattered.

Britannia · Analyst questions, management answers, and the quality of the response where the ledger is available.

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WatchQ1-FY25 · 2024-08-05Back to quarter ↗

Questions audited

Answered directly

67%

Numeric claims

Consistency

contradicted

Question ledger

What was answered, and how?

Abneesh Roy · Nuvama

partial

Pricing and market share in cheese business

pricing, we've taken a few actions ... our premium is slightly lower ... The market share on cheese, we are very small ... we are just about in double digits.

Abneesh Roy · Nuvama

direct

Impact of hot beverages, travel, and elections on biscuit demand

Out-of-home, we didn't see any negative impact ... Election rallies don't, do not impact us that much ... we sailed through those this year as well.

Avi Mehta · Macquarie

direct

Pricing growth outlook for FY25 given commodity inflation

we might have to take a little bit of pricing ... even if there is inflation, it'll probably be in the range of 4%-5%.

Avi Mehta · Macquarie

evasive

EBITDA margin level for adjacent businesses

We do not do a separate consolidation on our adjacency business level ... if you look at your net margins, they are reasonable.

Arnab Mitra · Goldman Sachs

direct

Price deflation trend and future pricing actions

there is no deflation, really ... we have taken price rollbacks ... now is the time to start to consolidate ... we expect a 4%-5% inflation in the coming months.

Arnab Mitra · Goldman Sachs

partial

Spike in other operating income and PLI benefit

this is for our factory in Ranjangaon ... we got some benefits from the past year.

Percy Panthaki · IIFL Securities

direct

Status of baked snacks extruded Time Pass launch

This is in experimental stage ... we are doing some market tests ... it's not like a rollout across the country.

Percy Panthaki · IIFL Securities

direct

Why extruded snacks launch is taking so long

there are two or three things ... the outside opportunity ... internal ... we don't want to do anything without really being 100% sure of success.

Percy Panthaki · IIFL Securities

evasive

Target margin range going forward

I can't give you a pointed answer ... I would not mind if my margins stay at 16% rather than going to 18%, but it's important that we drive top line.

Mihir Shah · Nomura

partial

Sustainability of volume growth and impact of heat wave

getting to high single digit volume growths should not be a big issue ... we will do whatever is necessary to be able to get there.

Mihir Shah · Nomura

partial

Other expenses increase and margin outlook

it was ad spends that we spent on ... we were able to get a bang for our buck during this quarter, with good volume growths.

Binay Shukla · PhillipCapital

direct

Focus market performance, market share gap, and revenue contribution

our focus market performance has not been great ... average contribution is about 15% odd ... number one player is still at about 50% share.