Britannia Industries is looking to enter the healthy food market after posting strong profits in the last financial year
Britannia Industries Ltd, one of India’s leading FMCG brands, is looking to enter healthy food space in the country soon. After making a mark in the market for biscuits, cakes, rusks and croissant, the company is looking to expand its portfolio and consolidate distribution networks.
In its bid to expand portfolio, the company had launched Treat Croissant in 2022. Within a year of its launch, the company announced in March 2023 that the croissant business’ revenue has crossed Rs 100 crore. “The company is targeting Rs 300 crore from the croissant segment in next three years. Our play in the croissant category is on a firm footing now, and we believe that there is tremendous headroom for growth," the company’s Executive Vice Chairman and Managing Director Varun Berry had said.
Britannia had also agreed to a joint venture with French cheese maker Bel SA in 2022 to offer latter’s products like The Laughing Cow cheese in India. Following the deal, Bel acquired 49 per cent of Britannia Dairy Pvt. Ltd (BDPL) while the remaining stake went to Britannia Industries.
Talking about expansion plans in an exclusive interview to Outlook Business, Berry says, “It's about making sure that we straddle a lot more categories than we did 10 years ago. So, 10 years ago, we were predominantly a biscuit company. Today, we have got multiple categories as we've launched new products.” He adds that Britannia’s portfolio will be a bouquet of products with a lot more strength in other verticals.
Britannia Industries posted net profit of Rs 2,316.32 crore in the year ended March 2023, which was higher than the net profit of Rs 1,515.98 crore in FY22. In the interview, Berry also talked about a golden triangle formula that keeps the company marching ahead to reap huge profits and helps in staying ahead of the curve.
“We focus on the Golden Triangle, which is growing revenues, growing bottom line more than we grow revenues to ensure profit margins and making sure that we stay ahead of others as far as market share is concerned. That is our mantra. Everyone in the company knows that we have to achieve the Golden Triangle every year,” Berry states.