Overview

• In Q1 FY26, Britannia’s net profit rose 3% year on year to ₹520.72 crore while revenue grew 8.8% to ₹4,622.22 crore.
• The results missed the Bloomberg consensus of ₹568.95 crore on net profit, and EBITDA margin contracted to 16.4% from 17.7% in the previous quarter.
• Shares on the National Stock Exchange fell about 2.6% to ₹5,787 following the earnings announcement, trailing the broader market.
• Brokerages hold mixed ratings with JM Financial at buy, Jefferies at hold and HSBC at reduce, citing pressure from rising input costs and intensified competition.
• The company is focusing on premiumisation and core brand innovations to drive volume growth in the face of high raw-material costs.