Croissants will be produced at company's soon to be launched integrated food park in Ranjangaon
The stock hit a new high of Rs 5,057, up 1% on the BSE, trading higher for the fourth straight trading days.
Premium products, cost-control initiatives key triggers for company transitioning from being a biscuits maker to a bigger player in food
Three and a half years since taking over as Britannia Industries' managing director, Varun Berry is putting the third leg of his master plan in place to transform the Wadia Group company into a well-rounded food major.The initial years of his tenure (Berry, now 55, joined Britannia in early 2013 as operations head, subsequently becoming MD) were spent ramping up distribution and manufacturing. The third leg will now see the biscuit major step into areas such as croissants, snacks and beverages. "We want to become a total food company," Berry told Business Standard. "Our plan is to get into a new category every year. Five years from now, we intend to play in a lot of more categories than we now do."The diversification comes when rivals Patanjali, ITC and Parle are rapidly expanding into new areas. At the recent World Food India 2017, Patanjali, ITC and Britannia committed a total of Rs 32,500 crore over the next few years in food processing investments, a substantial chunk of the Rs ..
The FMCG major had posted a net profit of Rs 234.05 cr in the July-Sept period a year ago
It's also scouting for profitable growth options especially in bakery segment, to boost position
Reacting to its numbers, the stock of the company rallied as much as 7.7% on the BSE
The injunction came on a suit from rival ITC, alleging breach of copyright
Restraining order followed ITC's charge that Britannia had copied the colour combo of the packaging of its own digestive biscuits
Its presence in the high growth potential dairy segment will be another engine of growth in the future
However, the company will not be entering new segments in FY17
Stock was trading at Rs 3,139 on BSE during afternoon trade up 8.93 per cent from its previous close
The stock moved higher by 8% to Rs 3,104 on the BSE.
The stock dipped 8% to Rs 2,703 on the BSE in early morning trade.