A study on

BRITANNIA INDUSTRIES PVT LTD

A mini Project Report Submitted to
Jawaharlal Nehru Technological University, Kakinada in partial fulfillment
of the requirements for the award of the Degree of

MASTER OF BUSINESS ADMINISTRATION

Submitted by
A.VS PHANI KUMAR
(Regd. No: 15K61E0004)
Under the guidance of
CH.VENKATESWARLU
Associate Professor

DEPARTMENT OF MANAGEMENT STUDIES

SASI INSTITUTE OF TECHNOLOGY & ENGINEERING
(Approved by AICTE, New Delhi and Affiliated to JNTU, Kakinada & SBTET, Hyderabad)
Accredited by NBA and NAAC with A Grade
TADEPALLIGUDEM 534101 W.G Dist.
2015-16

DEPARTMENT OF MANAGEMENT STUDIES

CERTIFICATE
This is to certify that the mini project work entitled,A study on BRITANNIA
INDUSTRIES PVT LTDsubmitted by A.VS PHANI KUMAR,
Regd no. 15K61E0004,examined and adjudged sufficient as partial fulfillment
for the award of the Master of Business Administration, by Jawaharlal Nehru
Technological University, Kakinada from SASI INSTITUTE OF
TECHNOLOGY& ENGINEERING Tadepalligudem.

INTERNAL GUIDE

HEAD OF THE DEPARTMENT

DECLARATION

I hereby declare that the mini project entitled

BRITANNIA INDUSTRIES PVT LTD is an original and independent work
done by me and has been submitted to the Department of Management Studies,
SASI INSTITUTE OF TECHNOLOGY & ENGINEERING affiliated to
Jawaharlal Nehru Technological University, Kakinada in partial
fulfillment for the award of degree of MASTER OF BUSINESS
ADMINISTRATION.
I also declare that this project is the result of my own effort and is not
submitted to any other University for the award of any Degree or Diploma.

Place:

A.VS PHANI KUMAR

Date:

REGD NO. 15K61E0004

ACKNOWLEDGMENT

Its my duty to acknowledge the Divine presence working within me and is the source of
existence of the entire world.
As a part of the curriculum at SASI INSTITUTE OF TECHNOLOGY & ENGINEERING
affiliated to JNTU, Kakinada the project enables us to enhance our skills, expand our
knowledge by applying various theories, concepts and laws to real life scenario which would
further prepare us to face the extremely Competitive Corporate World in the near future.
I avail this opportunity to express my heartfelt gratitude to the SASI GROUP OF
INSTITUTIONS, especially SASI INSTITUTE OF TECHNOLGY AND ENGEERING for
its existence in the process of building nation. I do sincerely thank our Principal
Dr.K.Bhanu Prasad and Vice-Chairman Mr.B.Ravi Kumarof this esteemed institution,
for providing me this opportunity to develop my knowledge in this area.
I feel happy and contented in thanking Mr.P.Rama Krishna, Head of the department of
Management Studies for his guidance, timely help and support for the successful completion
of this project.
I owe my deep sense of gratitude to CH. Venkateswarlu for his whole hearted support
and guidance and timely help.
I also thank all the faculty members of the department of Management Studies for their
support and guidance in completing this project.
I do thank my friends for their words of encouragement and support in the successful
completion of this project.

A.VS PHANI KUMAR

INDEX
S. No

CONTENTS

Introduction

Need for the Study

Scope of the Study

Objective of the Study

Limitations of the Study

Methodology of the Study

Industrial Profile

Company Profile

Findings

10

Suggestions

11

Conclusion

12

Bibliography

Page No

CHAPTER-I
INTRODUCTION
Once upon a time, in 1892 to be precise, a biscuit company was started in a
nondescript house in Calcutta (now Kolkata) with an initial investment of Rs. 295.These
were meant for officers of the British Raj and their families, people used to the exacting
standards of English tea-time snacking. From the paeans of ecstasy for that first batch of
aromatic, flavour-some biscuits was born a long tradition of delectable baking - and its Indian
custodian, Britannia.
Britannia, one of the Indias biggest brands of the country, has a market share of 33%.
A more-than-a-century old Britannia has launched big brands in FMCG Segment.The
company is expanding its customer base by launching new products and renovating existing
ones. Britannia s brands now have greater availability in rural markets and pervasive
presence in modern trade.
Britannia strode into the 21st Century as one of India's biggest brands and the preeminent food brand of the country. It was equally recognised for its innovative approach to
products and marketing: the Lagaan Match was voted India's most successful promotional
activity of the year 2001 while the delicious Britannia 50-50 Maska-Chaska became India's
most successful product launch. In 2002, Britannia's New Business Division formed a joint
venture with Fonterra, the world's second largest Dairy Company, and Britannia New
Zealand Foods Pvt. Ltd. was born. In recognition of its vision and accelerating graph, Forbes
Global rated Britannia 'One amongst the Top 200 Small Companies of the World', and The
Economic Times pegged Britannia India's 2nd Most Trusted Brand.
Today, Britannia is a leading food company in India with over Rs. 6000 Crores in
revenues, delivering products in over 5 categories through 3.5 million retail outlets to more

than half the Indian population. Our core emphasis across portfolios is on healthy, fresh and
delicious food and we are the First Zero Trans-fat Company in India.
Britannia Dairy products contribute close to 10% of the companys revenue. Britannia
markets its dairy portfolio on the back of a well integrated cold chain logistics network and
reaches 3 million outlets across the length & breadth of this country.Today, more than a
century after those tentative first steps, Britannia's fairy tale is not only going strong but
blazing new standards, and that miniscule initial investment has grown by leaps and bounds
to crores of rupees in wealth for Britannia's shareholders. The company's offerings are
spread across the spectrum with products ranging from the healthy and

economical Tiger

biscuits to the more lifestyle-oriented Milkman Cheese. Having succeeded in garnering the
trust of almost one-third of India's one billion population and a strong management at the
helm means Britannia will continue to dream big on its path of innovation and quality. And
millions of consumers will savour the results, happily ever after.

NEED FOR STUDY

In India Britannia is one of biggest brand & prominent food brand of the country. The
main aspect or need for study to know about the present financed position of the company.
To know about the employee relations and their commitment towards the company.
To gather the information regarding distribution of its products and determine global
expansion of the company.
For acquire knowledge about a company for this project and this help for final
project.

SCOPE OF THE STUDY

In India Britannia pvt ltd is one of biggest brand & preeminent food brand of the
country.

To know about the present financed position of the company.

To know about the employee relations & their commitment towards the company.

To gather the information regarding distribution of its products. To determine global

expansion of the company

To know how the company perform in its production.

OBJECTIVES OF THE STUDY

To analyze the business level strategy of the company.
To know about the status of the competitors.
To know the production performance of the company
To analyze the financial performance of the company
To know about the experts view of the company.
To determine sales activities by understanding customers business.
To analyze strengths and weakness of the company.
.

RESEARCH METHODOLOGY
Research means a careful investigation or inquiry especially through search for new
facts in any branch of knowledge. Thus it is an original contribution to the existing stock of
knowledge making for its advancement and research methodology is a way to
systematically solve the research problem. An appropriate methodology is an essence of any
research work. The success of any project depends upon the method chosen. The project is
about the Britannia performance and management.

Primary data:
The data is mainly collected by personnel discussions and interviews with the
relevant persons of the company. But this not primary data is not used in this project.

Secondary data:
The secondary data is mainly collected from journals, magazines and books
available on the subject, profile of the company and financial statements.

Data collection:
The data collection from the company files, financial assets, balance sheets, and
from library books and other articles from the websites.

Data Analysis:

The analyses used in the study are tabulation of charts, graphs and mathematical tools for
representation and schedule of ratios, common size statement, and comparative analysis.

LIMITATION OF STUDY
Reliability is not guaranteed.
Secondary data can be general and vegue and maynot really help companies
with decision making.
The data may be old and out of data.
The company publishing the data may not be reputable.

CHAPTER-II
INDUSTRIAL PROFILE OF FMCG
Fast Moving Consumer Goods (FMCG) goods are popularly named as consumer
packaged goods. Items in this category include all consumables (other than groceries/pulses)
people buy at regular intervals. The most common in the list are toilet soaps, detergents,
shampoos, toothpaste, shaving products, shoe polish, packaged foodstuff, and household
accessories and extends to certain electronic goods. These items are meant for daily of
frequent consumption and have a high return.
The Indian FMCG sector with a market size of US$14.8 billion is the fourth largest
sector in the economy. The FMCG market is set to double from USD 14.7 billion in 2008-09
to USD 30 billion in 2012. FMCG sector will witness more than 60 per cent growth in rural
and semi-urban India by 2010. Indian consumer goods market is expected to reach $400
billion by 2010.Hair care, household care, male grooming, female hygiene, and the
chocolates and confectionery categories are estimated to be the fastest growing segments. At
present, urban India accounts for 66% of total FMCG consumption, with rural India
accounting for the remaining 34%. However, rural India accounts for more than 40%
consumption in major FMCG categories such as personal care, fabric care, and hot
beverages. In urban areas, home and personal care category, including skin care, household
care and feminine hygiene, will keep growing at relatively attractive rates. Within the foods
segment, it is estimated that processed foods, bakery, and dairy are long-term growth
categories in both rural and urban areas.The growing incline of rural and semi-urban folks for
FMCG products will be mainly responsible for the growth in this sector, as manufacturers
will have to deepen their concentration for higher sales volumes.

Major Players in this sector include Hindustan Unilever Ltd., ITC (Indian Tobacco
Company), Nestl India, GCMMF (AMUL), Dabur India, Cadbury India, Britannia
Industries, Procter & Gamble Hygiene and Health Care, Marico Industries, Nirma,CocaCola, Pepsi and others.
As per the analysis by ASSOCHAM, Companies Hindustan Unilever Ltd , Dabur
India originates half of their sales from rural India. While Colgate Palmolive India and
Marico constitutes nearly 37% respectively, however Nestle India Ltd and GSK Consumer
drive 25 per cent of sales from rural India.
A rapid urbanization, increase in demands, presence of large number of young
population, a large number of opportunities is available in the FMCG sector. The Finance
Minister has proposed to introduce an integrated Goods and Service Tax by April 2010.This
is an exceptionally good move because the growth of consumption, production, and
employment is directly proportionate to reduction in indirect taxes which constitute no less
than 35% of the total cost of consumer products - the highest in Asia.. The bottom line is that
Indian market is changing rapidly and is showing unprecedented consumer business
opportunity.
The 3million ton bakery products industry can be categorized as follows:
Bread
Biscuits
Cake

Only 40% of the bakery industry is in the organized sector, while the balance 60%
constitutes unorganized / small-scale local manufacturers. There are over 2mn manufacturing
units in the unorganized segment.
Unorganized sector manufactures several types of bread and organized sector primarily
manufactures western type of breath biscuits have been a popular snake for a long time and
there is a large variety available even today. By contrast, cakes are not popular in India and a
limited range is available in the local market.

Segmentation:
Biscuits can be segmented broadly in to popular and special segments. Popular
biscuits can further be segmented as glucose, milk biscuits, Marie, arrowroot. Glucose
biscuits are the largest selling biscuits accounting for about 35% of the total biscuit market
specialty biscuits can be segmented as cream, wafer cream, salt cracker. Cookies,
assorted/others.
Industry structure:
In 1977-78, the government reserved the bread and biscuit manufacturing for small
scale and restricted entry of large producers. During the last two decades, small and
unorganized players shared the growth in the industry. Currently there are an estimated two
million bakeries across the other products. Abid Hussain committee recommended
dereservation of the sector, as the unorganized sector has not been able to maintain quality
and hygiene standards, for want of capital and technology. The government in the 1996-97
budgets implemented the recommendation and the sector was de-reserved. The major
problem this industry has been facing is the availability of cheap and quality raw material,
wheat flour, supply of wheat flour is canalized through a government body state-trading
corporation.
Market size and growth
As per the estimate made by the ministry of food processing industries(1998), the
total market of bread and biscuit is estimated at 1.5mn ton and 1.1mn ton respectively. The
cake market is estimated at 0.4mn ton. The organized segment of the biscuit market is
estimated to be 0.44mn tons whereas the unorganized sector accounts for the balance 0.66mn
tons. Over 80% of bread is manufactured by the unorganized sector. In terms of value, bread
market is estimated at Rs 16bn (MRP Rs 21bn) whereas biscuit market is valued at Rs40bn
(MRP Rs60bn).
The biscuit market in the recent years has witnessed a little higher growth at around
8-10% pa. with in the biscuit category, cream and specialty biscuits are growing at faster

pace at 20% pa, while the popular segment is growing at 6-7% pa. The glucose segment
recorded higher growth in 1998, driven by strong growth in Britannias tiger brand.

Major players and market shares:

In the overall biscuit market, Britannia and Parle are two major players with 15% and
10% market shares respectively. In the organized biscuit market, Britannia has close to 40%
market share while parle has around 30% share. Brakemans has a market share of 10%
mainly with a larger share of the cream biscuit segment. SmithKline consumer has close to
8% market share with its horlicks and boost brands. Other players like nutrient (now acquired
by Sara lee), kwality etc have about 3-4% market shares each. Kwality biscuits pvt ltd,
a Gulbarga based company has been expanding its presence to the county.
The glucose segment accounts for 35 percent of the overall biscuit market. Parles
Parle-g is the leader in the glucose segment, wherein it has an estimated 55% market share.
Britannia relaunched its glucose-d and circus brands of glucose biscuits under the tiger brand.
With attractive packaging, low pricing, and heavy advertising, Britannia has achieved
tremendous success with tiger brand. The brand has an estimated annual sale of close to
Rs1.5bn and has garnered 20-25% market share in the glucose biscuit segment. Britannia
hopes to make tiger the number one brand in the glucose segment by 2001. Rural market
accounts for majority of tiger sales.
Salty biscuits ( parles Monaco and Britannias snax ) and sweet-salty biscuits (parles
krackjack and Britannias 50-50) are the other two most popular segments in the biscuit
market. Other parle brand in the popular segment is super milk. However, parle has been
unable to establish its presence in the premium segment. It has recently launched hide and
seek, chocolate chips biscuits, which will compete with Britannias bourbon. Britannias
other main brands are Marie, nice, milkbikies, Tiger, pure magic, little hearts.

Other small scale producers are ampro food products, lucky biscuit company,
champion biscuits, crown bakery, dalmia biscuit pvt ltd, dey bakery, Indian food pvt ltd, JB
mangharam & co, etc. doctor biscuits pvt ltd, a kerala based company has created a niche
segment of herbal biscuits containing herbs with medicinal properties which are beneficial
for the body.
After setting up a base in the south, the company is currently expanding its market to
cover Maharashtra. Utter Pradesh Bihar and Orissa. Doctor biscuits pvt ltd has a network of
425 distributors and 75 stockiest and has an annual turnover of Rs 360m.

Entry of global players:

In the past, several major MNCs like Cadbury, Brooke bond and nestle tried to enter
into the biscuit segment but were not successful. These players found it difficult to compete
with the unorganized players in the lower/popular segment of the market. In the upper end of
the market, market size is small and there are established players with strong brand equities
and a well-entrenched distribution network. Ultimately, they pulled out of the product
category. With the decontrol of the sector, several large global players have entered the
category and more players are expected to set up shop in the county over the next few years.
The leading global players who have entered the biscuit segment are
Nestle:
Nestle is the largest producer of the biscuits in the world. In India some international
of Israel had set up a joint venture with dabur for the manufacture of bakery products. The
joint venture, named excelsia foods, currently markets the creamwich brand of cookies with
the global acquisition of the some group, nestle acquired 40% stake in excelsia foods.
Nestle has increased its stake in execelsia to 60% by acquiring an additional 20%
equity from dabur a new biscuit brand kidz animal shaped biscuits in chocolate and plain
flavors, has been launched. Targeted at children, the biscuits are positioned on the funplatform and are packed in pouches.

United Biscuits:
United biscuits, the $3.25 billion britished-owned multinational food company, and
the second largest biscuit manufacturer in the world, is launching its popular mcvities
digestive brand in india. It will also launch other brands like hob-nobs, bn pocket and ginger
snaps.Mcvities digestive is the largest selling brand in the UK the biscuits will be directly
imported by the company and will be available in nearly 12000 retail shops in these major
cities. The biscuits will be priced at a significant premium as import duty is high at 60%. UB
has a market share of 19 percent in the European biscuit market. It also has significant
operations in other countries such as China, Malaysia, Japan, Singapore, Russia and US.
Kelloggs
Kelloggs has also entered the segment with the launch of its digestive breakfast cereal
biscuits.
Sara lee:
Sara lee, another leading global player has acquired the biscuit business of nutrient, a south
based confectionery firm.
The market leader, Britannia has also in recent years revamped its corporate image
and marketing strategy and introduced a number of new biscuit brands to cater to various
segments (including the premium, snack and mass markets).
Britannia:
Britannia has been expanding its distribution reach and plans to double its network in
the rural markets. Retail reach is expected to increase from the current 0.4mn outlets to
0.8mn retail outlets in the next two years. Its new logo incorporates the slogan Eat Healthy,
Think Better, positioning the companys products as a source for healthy food. This is an
important strategy for promoting consumption of snack foods, which many families do not
associate with nutrition platform, have been launched recently.

Over the long-term, the relative share of unorganized sector is expected to decline
gradually. Existing players with strong brands and established distribution networks will
continue to expand their market. New players will have the daunting task of setting up a
distribution network besides adapting their products to meet the taste preferences of local
consumers. The new entrants are likely to enter into distribution arrangements with
established domestic food companies.

CHAPTER-II
PROFILE OF BRITANNIA INDUSTRIES LTD COMPANY
123 years ago, in a small house in central Calcutta (now Kolkata) an intrepid baker
made a batch of delicious, golden brown biscuits. These were meant for officers of the
British Raj and their families, people used to the exacting standards of English tea-time
snacking. From the paeans of ecstasy for that first batch of aromatic, flavour-some biscuits
was born a long tradition of delectable baking - and its Indian custodian, Britannia.
Britannia Dairy had its beginnings in 1997. Britannia was one of the first companies
in India to pioneer category defining innovations like Cream Cheese and introducing a host
of international flavors for its cubes & spreads in India. Today Britannia Dairy products
contribute close to 10% of the companys revenue. Britannia markets its dairy portfolio on
the back of a well integrated cold chain logistics network and reaches 3 million outlets across
the length & breadth of this country.
Today, Britannia is a leading food company in India with over Rs. 6000 Crores in
revenues, delivering products in over 5 categories through 3.5 million retail outlets to more
than half the Indian population. Our core emphasis across portfolios is on healthy, fresh and
delicious food and we are the First Zero Trans-fat Company in India. 50% of our product
portfolio is enriched with micro-nutrients. Our products are also delivered through the
Britannia Nutrition Foundation to combat malnutrition among underprivileged children.

VISION OF BIL

To dominate the food and beverage market in India with a distinctive range of
"Tasty yet Healthy" Britannia brands. We demand the best of ingredients
and package their natural goodness in our products, without compromise.

MISSION OF BIL
Our Core Emphasis Across Portfolios Is On Healthy, Fresh And Delicious Food."We
want to be part of our consumer- at home, out of home, a natural part of his life".

HISTORY
The company was established in 1892, with an investment of 295. Initially, biscuits
were manufactured in a small house in central Kolkata. Later, the enterprise was acquired by
the Gupta brothers mainly Nalin Chandra Gupta, a renowned attorney, and operated under
the name of "V.S. Brothers." In 1918, C.H. Holmes, an English businessman in Kolkata, was
taken on as a partner and The Britannia Biscuit Company Limited (BBCo) was launched. The
Mumbai factory was set up in 1924 and Peek Freans UK, acquired a controlling interest in
BBCo. Biscuits were in high demand during World War II, which gave a boost to the
companys sales. The company name finally was changed to the current "Britannia Industries
Limited" in 1979. In 1982 the American company Nabisco Brands, Inc. acquired the parent
of Peek Freans and became a major foreign shareholder.
The 'Biscuit King'
Kerala businessman Rajan Pillai secured control of the group in the late 1980s,
becoming known in India as the 'Biscuit King'. In 1993, the Wadia Group acquired a stake in
Associated Biscuits International (ABIL), and became an equal partner with Groupe Danone
in Britannia Industries Limited.
In what The Economic Times referred to as one of [India's] most dramatic corporate
sagas, Pillai ceded control to Wadia and Danone after a bitter boardroom struggle, then fled
his Singapore base to India in 1995 after accusations of defrauding Britannia, and died the
same year in Tihar Jail.

Wadia and Danone

The Wadias' Kalabakan Investments and Groupe Danone had two equal joint venture
companies, Wadia BSN and United Kingdom registered Associated Biscuits International
Holdings Ltd., which together held a 51 per cent stake in Britannia. The ABIH tranche was
acquired in 1992, while the controlling stake held by Wadia BSN was acquired in 1995. It
was agreed that, in case of a deadlock between the partners, Danone was obliged to buy the
Wadia BSN stake at a "fair market value". ABIH had a separate agreement signed in 1992
and was subject to British law.
Wadia was to be Danone's wife's partner in the food and dairy business, and product
launches from Groupe Danones were expected but never materialised despite the JV being in
existence for over 11 years in India. Under the 1995 joint venture agreement, Danone is
prohibited from launching food brands within India without the consent of the Wadias. In
addition, the partners agreed there would be the right of first refusal to buy out the remaining
partner in the event of the other wishing to sell its holding. In June 2006, Wadia claimed
Danone had used the Tiger brand to launch biscuits in Bangalore. In May 2007, Nusli Wadia
told the Ministry of Commerce and Industry that Danone invested in a Bangalore-based bio
nutrition company, Avesthagen, in October 2006 in violation of the government's Press Note
1, 2005, which requires a foreign company to obtain the consent of its Indian joint venture
partner before pursuing an independent business in a similar area, including joint ventures
based purely on technical collaboration. Danone argued that Press Note 1 did not apply to it
as it did not have a formal technology transfer or trademark agreement with Avesthagen, and
that its 25% holding in Britannia was indirect. Wadia also filed a case in the Bombay High
Court for a breach of a non-competition clause in that connection. The court ordered Danone
not to alienate, encumber or sell shares of Avestagen.
In September 2007, the Foreign Investment Promotion Board of India rejected
Danone's claims that it did not need a non-compete waiver from the Wadias to enter into
business in India alone.
After a prolonged legal battle, Danone agreed to sell its 25.48% stake in Britannia to
Leila Lands, which is a Wadia group entity based in Mauritius, and quit this line of business.

Date of Establishment
Revenue
Market Cap
Corporate Address

21-03 1918
1165.89 ( USD in Millions )
322423.005231 ( Rs. in Millions )
5/1 A, Hungerford Street,Kolkata-700017, West
Bengal

was

200 mn. With this

Management Details
MD -

deal

valued at $175

www.britannia.co.in
Chairperson -

The

Nusli

Varun

Wadia

buy-out,

Wadia

Berry holds a majority

Directors - Ranjana Kumar, Vijay L Kelkar, Ness N stake of 50.96%.

Wadia, Nasser Munjee, Ajai Puri, Keki Dadiseth, Jeh
N Wadia, Nimesh N Kampani, S S Kelkar, Avijit Deb,
AK Hirjee

Parent Group:
Britannias
controlling stake is

Business Operation
Background

Consumer Food
Britannia, one of the Indias biggest brands of the
country, has a market share of 33%. A more-than-acentury old Britannia has launched big brands in
FMCG Segment.The company is expanding its
customer base by launching new products and
renovating existing ones. Britannia s bran

jointly with Group

DANONE

and

Nulsi

Wadia

group.

Group

Danone is one of
the leading players
in the world in
bakery

products

business

and

acquired interest in
Financials

Total Income - Rs. 72635.2 Million ( year ending Britannia industries

Mar 2015)

in

1989

and

Net Profit - Rs. 6224.1 Million ( year ending acquired

Company Secretary
Bankers

Auditors

Mar 2015)
controlling stake in
Rajesh Arora
1993. Nulsi Wadia
HDFC Bank, ICICI Bank, Indian Bank, State Bank of
group is one of the
India, Standard Chartered Bank, Bank of America,
leading industrial
HSBC Bank, Citi Bank, The Royal Bank of Scotland
houses
in
the
N.V., Bank of Tokyo Mitsubishi
country
with
BSR & Co LLP

interests mainly in textiles and petro chemicals.

Plant Location:
All the Britannia factories are located at strategic location. So as to ensure a constant
output and easy distribution. A large part of products are outsourced from third party
producers mainly. Dairy products including flavored milk are sourced from Dynamix diary
located in Maharashtra, Mumbai, Delhi, And Calcutta and Chennai.
Earning Sensitive Factors:
BIL is the market leader in the biscuit and bakery products segment in the organized
market. Biscuit contribute to more than 80% of Britannias total turnover. Other products
include bread and cakes.
Its brand Tiger has out-stripped all its competitors in the lower end of the market.
The strategy is to grow its share in the lower and through broad basing Tiger and in the
higher end through aggressive re launches and introducing low units packs. Britannia enjoys
a prominent position in the industry. Over the last couple of years, it has trimmed down its
wide product portfolio and began to focus on value-added instead of low margin products.
It has made an entry into the ethnic food segment with branded salted snacks. The
company has introduced so for six to seven products in this segment in outskirts
of Delhi, Calcutta and Chennai.
Largest Organized Player:
Today it is undoubtedly the largest player in the organized sector. With its strong
holds in the biscuit and bakery products segment and dairy business segment. Biscuits
contribute to more than 80% of Britannias turnover. Other products include bread and
cakes. The company has also established a significant presence in the dairy business in the
last couple of years.
BIL has consolidated its positioned in the dairy business as well as strengthened its
leadership in the core bakery business.
Margins have been improving despite the fast pace of new product launching. As
sales stabilize, operating margin will witness a further improvement rationalization of
manufacturing operations and greater contribution of higher margin dairy products has also
yielded margin gains. Breads volumes are recorded downtrend over few years. The

company has decided to strengthen its bread business in the southern states and the cake
business recorded a volume growth over the years.
In the extremely price conscious biscuit market, consumption of premium biscuits is
being induced by introducing smaller pack sizes and lowering price points. Competition
weak with Britannias biggest competitor Parle, Unable to make a mark anywhere apart from
Glucose. Bake mans with 8% market share is in trouble and could also prove to be soft
target in the future. Others like Priya Gold though strong remain regional players.
After a thrown over haul of the operational structure a revamp of its product portfolio
and am ambitious foray into new areas. Such as diary products and snack foods, the
company has managed to turn in robust financial performance over past years. The stock
market has also taken notice in re-rating the stock, pushing up its price earnings. The stock
now ranks among the preferred investment options within the universe of FMCG companies.
Competitive Position:
Britannia has maintained market leadership with a 40% volume of share and 48%
value market share in the organized sector.
FMCG major HLL is expected to venture in the segment. Britannia has been
aggressive in new launches and marketing during the last 2 years anticipating the
competition.
The Industry is dominated by a large number of players in the unorganized sector,
which accounts for over 80% of the market. Britannia industries and modern foods owned
by HLL are the only two players with a national presence in packet slice bread segment.
There are several other regional players like Parle, ITC who have significant market shares in
their respective areas.

Research and Development:

Britannia industries R & D team is involved in developing existing ones and
improving production facilities packaging systems and process. It continued in its efforts to
improve and upgrade their production facilities. In this respect, the 12th biscuit training
programme was held in Delhi in Collaboration with federation of biscuit manufactures
of India and U.S. wheat associates.

Quality Initiatives:
Quality of Britannia products remains one of there main areas of focus. This mindset
is further strengthened through a quality assurance system complying with ISO 9002 in there
factories.
Code of Conduct:
The reputation that Britannia has built over the years for high ethical standards is one
of our greatest business assets. To share the responsibility to preserve and enhance this asset,
the company has documented the Code of Business Conduct [COBC] for its employees. This
handbook covers the Code in detail.
The COBC outlines the principles, policies and laws that govern the activities of the
company, and to which employees of Britannia and others who work with, or represent
Britannia directly or indirectly, must adhere. The Code is distributed to all employees and
directors and others associated with the business of the Company, and offers guidance for
professional conduct under six main headings, which include the following key points:
1. Responsibilities of Employees of Britannia
Maintaining ethical standards, including appropriate accounting controls;
Identify, surface and resolve ethical issues with great speed;
Corporate assets (physical and intellectual) must not be used for personal benefit;
Exercise good judgment and standards of good taste when creating company records,
including e-mail;
Maintain company records accurately and retain them in accordance with law.
2. Workplace Responsibilities
Being committed to fair employment practices;
Being committed to a workplace free from drugs and any kind of harassment or intimidation
of employees;
Being committed to the safety of our employees;
Being committed to discipline at workplace;
Compliance with appropriate laws and internal regulations
3. Representing Britannia to Customers and Other External Constituencies
Treating customers, suppliers and competitors fairly;
Maintaining high standards of quality;

 Speeches, media interviews, and other public appearances in connection with Britannia
must first be approved internally;
Preparing accounts accurately and maintaining records;
Ensuring not to use unfair and misleading statements when marketing Britannia products
and services;
Accepting and giving gifts is not permitted, except as governed by the policy laid down
herein.
4. Privacy / Confidentiality
Protect proprietary and confidential information at all times in accordance with applicable
law;
Keep customer information secure at all times, as a sacred trust given to the company by
our customers;
Keep employees' information confidential.
5. Investments and Outside Activities
Trading in the securities of Britannia or any other company while in possession of "inside"
information is illegal;
Avoiding real or perceived conflicts of interest in areas including investments or outside
business activities, among others.
6. Corporate Social Responsibility
Catering to the national interest
Committed to be a good corporate citizen
The company prohibits any payment of bribes.

BOARD OF DIRECTOR

MILESTONES
1892: Established in Kolkata with an investment of just Rs. 295.
1918: The Company was incorporated on 21st March, as a Public Limited Company under
the Indian Companies Act, VII of 1913. The company manufactured bakery and soyabean
products and exported cashew kernels and sea food products.
1921: The Company obtained a priority of Certificate and imported new machinery thereby
becoming the first biscuit company in India to install and run a gas oven plant.
1924: A new factory was established at Kasara Pier Road in Mumbai. In the same year, the
Company became a subsidiary of Peek,Frean&Co.Ltd., U.K.,a leading biscuit manufacturing
company, and further strengthened its position by expanding the factories at Calcutta
1939-45: A large part of the Company's production was diverted to war effort on account of
World War II and at times as much as 95% of the total capacity was booked for the
production of Service Biscuit.
1952: The Calcutta Factory was shifted from Dum Dum to spacious grounds at Taratola Road
in the suburbs of Calcutta. During the same year automatic plants were installed there and
later in Mumbai in 1954.
1954: The development of high quality sliced and wrapped bread in India was pioneered by
the Company and was first manufactured at Delhi.
1955: Britannia launches the delicious Bourbon biscuit in India.
1963: Britannia Cakes hit the markets.
1975: Britannia takes over biscuit distribution from Parry's
1976: Britannia Bread is introduced in Calcutta and Chennai
1978: The Indian share holding in the company crosses 60%
1979: With effect from 3rd October, the name of the Company was changed from the
Britannia Biscuit Co., Ltd., to Britannia Industries Ltd.
1980: The Company signed a 10 year technical collaboration agreement with Nabisco Pvt.
Ltd., Nepal, for the supply of know-how relating to manufacturing, packaging and marketing
of biscuits and selection of plant and machinery.
1983: Sales cross Rs. 100 crores.

1986: The turnover increased by 19.4% over the previous year to Rs 192.15 crores. Good
Day, a new biscuit launched during the year met with good response.
1987: In (16 months), the total sales turnover increased on an annualized basis by 38.7%
over the previous year. Increase in sales of bakery and soya products divisions and higher
cashew exports helped to realise higher sales. With the introduction of some more brands
during the year, the total biscuit brands of the bakery division reached 27. The soya products
division introduced a range of extruded products under the brand name VITAL FEAST.
1989: The Company launched new brand of biscuit,namely, CIRCUT'. Another brand PURE
MAGIC was extended nationally and pista badam was added to GOOD DAY range of
biscuits. The Executive Office of the company moves to Bangalore.
1990: Two new brands of biscuits, Elaichi Cream and Petit Beurre are launched. A new
Cashew Badam variant of the brand Milk Bikis and Pure Magic biscuit vanilla flavour is
launched.
1992: Britannia celebrates it Platinum Jubilee!
1993: The Wadia Group acquires a claim in the company and becomes an equal partner with
Group Danone. Britannia also launches Little Hearts and 50-50 biscuits.
1994: Annual volume produced crosses 1 lakh tonne of biscuits. This year Britannia launches
Baker's Choice and Thinlite - aimed at the health conscious consumer.
1995: Britannia identifies a new mission - to make every 3rd Indian a Britannia consumer. It
also changes its Corporate identity to "Eat Healthy, Think Better"
1996: Britannia Marie Gold and Milk Bikis Milk Cream perform exceptionally well in the
market and the company's profits improve despite the slow down in the economy.
1997: Britannia launches its Dairy products. Britannia also launches Tiger biscuits, Chekkers
and Jim Jams.
1998: The company launches Half/Half, a soft cake filled with cream in two variants,
chocolate-vanilla and vanilla-orange.
1999: Britannia launches its brand of flavored milk and the famous Britannia Encyclopedias.
2000: Britannia Industries launches the hugely successful campaign `Britannia Khios,
Cricketer Ban Jiao'. It also launches the product Vita Marigold in this year. Britannia also
launches Milkman Lassie and Milkman Cold Coffee. Britannia was voted in Top 300 small
companies by Forbes Global.

2001: Britannia Industries launches Britannia Milkman Milk in Delhi. Britannia is

acknowledged as No.1 food brand of India by Economic Times Brand Equity survey.
2002: Britannia Industries Ltd announced on March 26, 2002 that it has entered into a joint
venture with the Fonterra Cooperative Group, New Zealand's biggest company and one of
the leading diary co-operative groups in the world. Britannia's new COO is Nikhil Sen.
2003: Britannia was accorded the status of being a 'Super brand'. Volumes crosses 3, 00,000
tonnes of biscuits. Good Day adds Coconut to its range.
2005: Re launches the brand Tiger, with the highly successful slogan - 'Swasth Khao, Tiger
Ban Jao' and also launches 50-50 Pepper Chakkar.
2007: Britannia industries formed a joint venture with the Khimji Ramdas Group and
acquired a 70 percent beneficial state in the Dubai-based Strategic Foods International Co.
LLC and 65.4% in the Oman-based Al Sallan Food Industries Co. SAOG. Britannia launches
NutriChoice - the first of its kind of biscuits in India - with no added sugar.
2009: Britannia takes full control of Daily Bread. Britannia New Zealand Food (BNZF)
became a BIL subsidiary after BIL bought out New Zealand's Fonterra from the existing joint
venture. BNZF was renamed Britannia Dairy Pvt. Ltd. (BDPL). Britannia became the first
Bakery brand in India to remove trans-fats from 99.9% of its products. Wadia Group became
the largest shareholder in BIL after acquiring stake holdings from Group Danone.
2010: Britannia Industries Ltd has appointed Dr. Vijay L. Kelkar as an additional Director on
the Board of the Company with effect from May 28, 2010
2011:Britannia

received

the

Most

Respected

Company

Award

2011

from

Businessworld.Bourbon received the Most Popular Confectionery Product Preferred By

Youth (Biscuit) Award.
2012: Britannia was awarded the Global Performance Excellence Award (GPEA) by Asia
Pacific Quality Organization (APQO).

PRODUCTS OF BRITANNIA

The Britannia Products consists of the four sectors:

i. Biscuits Sectors
ii. Bread, Cakes and Rusk Sectors
iii. Gift Sectors
iv. Dairy Products
Biscuits Sectors
Britannia Biscuits is famous world-wide for its taste which is sold at a reasonable and
affordable price. Many millions of people enjoy eating biscuits which is a healthy snack and
which is available in all over the stores at anytime, anywhere and every day
Following are the various sectors:

Kids Nutrition

Treat or Luxury

Snacking

Source:http://3.bp.blogspot.com/-8j48BCD8uE4/UlFY5DwPeLI/AAAAAAAAACU/JHtoCQ4aDvQ/s1600/Biscuit+Sector-1.

Bread, Rusk sectors

Bread and Rusk which are consumed by adults, kids and by all generation of people
consists of vital nutrients and vitamins, Honey & Oats, Multi-Grain, Whole Wheat, and
Multi-Fiber.
Britannia brings wide variety of such Bread and toasted Rusk which gives consumers to
choose wide range of these products and enjoy the benefits under Bread and Rusk sectors.
Britannia Toasted Rusk

Source:http://3.bp.blogspot.com/-8j48BCD8uE4/UlFY5DwPeLI/AAAAAAAAACU/JHtoCQ4aDvQ/s1600/Biscuit+Sector-2.jpg

Dairy Products

Britannia Dairy Products is famous world-wide for its taste which is sold at a
reasonable and affordable price. Many millions of people enjoy eating butter, ghee, milk,
cheese, dahi, health drink, Choc milk, and badam milk which is a healthier drink and which
is

available

in

all

over

the

stores

at

anytime,

anywhere

and

every

day.

Britannia Dairy Products are further classified under below products:

Cheese
Butter
Ghee
Milk
Gourmet Cheese

Dahi
Depth: Depth of a product mix pertains to the total number of variations for each product.
Variations can include size, flavor and any other distinguishing characteristic. For example, if
a company sells three sizes and two flavors of toothpaste, that particular brand of toothpaste
has a depth of six. Just like length, companies sometimes report the average depth of their
product lines; or the depth of a specific product line.
Britannia Bread: Britannia Bread launched Health Breads in Delhi on Nov 14, 2011. This
new range of breads consists of Honey & Oats Bread, Multi-Grain Bread, 100%
Whole Wheat Bread and Multi-Fiber Bread. Upto the year 1958, there were no consumption
of bread and there was only one unit in Delhi. Further in the year 1963, Britannia was the
first branded sector in the bread market which offers 400 grams and 800 grams plain white
sliced bread. The main reason of introducing quality bread was to bring to the consumers
about the concept of bread i.e "Eat Healthy and Think Better".
Types of Bread
1. Honey & Oats Bread: This bread consists of loads of Honey and oats in every bite of
each slice. This was very good and healthy to people who opt for this bread.
2. Multi-Grain Bread: This has multi grain which consists of oats, ragi, whole wheat, soya
and flax seed and people who consume were so happy that they find richness of whole grains
in every bite of every wholesome slice.
3. Multi-Fiber Bread: This bread is filled with natural wheat and oat fibers to give healthy
breakfast in the morning. Fiber helps in effective digestion and helps in controlling

cholesterol.
4. 100% Whole Wheat Bread: This bread is filled with fresh wheat and good for health as
wheat brings loads of energy to human body.
Consistency: Product mix consistency pertains to how closely related product lines are to
one another--in terms of use, production and distribution. A company's product mix may be
consistent in distribution but vastly different in use. For example, a small company may sell
its health bars and health magazine in retail stores. However, one product is edible and the
other is not. The production consistency of these products would vary as well.

TIGER

Tiger orange cream

Tiger

Tiger rose milk cream

Tiger coconut

Tiger elaichi cream

TIGER

Butter

Cashew

Pista Badam

Chocolate Chip

Choco nut
MILK BIKIS

Cream

Delite

Fun land
50-50

50-50

50-50 Maska Chaska

50-50 pepper Chakar

MARIE GOLD

Vita Marie Gold

Marie Gold Doubles

Nutrie Choic

Nutri choice Digestive

Good Morning

Isobogol

Junior
CREAM TREAT

Burbon

Elachi

Jim-Jam

Mango

Orange

Pineapple

Butter & Honey

SNAX

Snax

Time pass

Cheezlets

OTHERS

Chaco

Sesame

Orange

Pure Magic

Chocolate

Vanilla

SWOT ANALYSIS OF BRITANNIA INDUSTRIES LTD

Britannia is one of the most known Biscuit, bakery and dairy food FMCG companies
in India. The vast variety of products with known brand names like Good day, Marie, Cheese,
butter etc make up the core product portfolio of Britannia. Naturally, the distribution of
Britannia is far and wide. In theSWOT analysis of Britannia, the product line and distribution
is the strongest point for the brand. The same is discussed at length below.

Strengths
1. Brand portfolio: Britannia is the only company in India that has offerings in bakery
products across the segment for all income groups due to which its possible for them
to acquire large share of wallet of consumers. Britannia holds nearly 30% market
share in the Indias biscuit category.
2. High Brand Recall: Because of its presence across range of bakery products like
biscuits, rusk, cakes & dairy products like milk, butter & cheese etc., their shelf
visibility is high. Also their focused marketing & advertising campaigns resulted into
positive word of mouth & high TOMA (top of mind awareness).
3. Serving Indian Markets from last 120 years: 123 years ago, in a small house in
central Calcutta (now Kolkata) an intrepid baker made a batch of delicious, golden
brown biscuits. These were meant for officers of the British Raj and their families,
people used to the high standards of English tea-time snacking. Over the last century
and a quarter, Britannia has been serving the Indian consumer with a range of fresh,
nutritious and flavor-rich products. Today, Britannia is a leading food company in
India with over Rs. 6000 crores in revenues, delivering products in over 5 categories
through 3.5 million retail outlets to more than half the Indian population.
4. In depth product portfolio: It has different offering for different income groups with
large assortments across the product categories like in Biscuits they have tiger ,milk
bikis , Good day, Bourbon ,little hearts, crackers , nutria-choice.

5. Market Penetration and distribution: Being present in the market with such large
SKUs and making it available through its robust distribution system, Britannia has
penetrated to every nook & corner of the country.
6. Market Leader in bakery: Britannia Industries Limited (BIL) is a major player in
the Indian Foods market with leadership position in Bakery category and has a market
share of ~ 30% in the industry. Britannia offers both delightfully indulgent and
healthy choices in biscuits, bread, cake, rusk and a range of dairy products that
include cheese, curd and specially formulated functional beverages with a dairy base.

Weaknesses
1. Over dependency on the biscuit business: Britannias 75% revenue comes from
biscuit business. Although they are market leader in the same but over dependency on
the same may affect their long term existence in the business.
2. Various brands got commoditized over time: Brands like Bourbon & glucose
biscuits of Britannia got commoditized over time such as in case of bourbon, Parle
also introduced Parle bourbon biscuits. Brand name when used like this by other
companies, creates confusion in the mind of the consumers resulting in loss of sale.
3. No overseas presence: Apart from India Britannia have presence in Dubai & Oman
that too through subsidiaries. But overall export of the products is very less then its
actual potential.
4. Struggling dairy business: Dairy business contributes only 5% of the companys
overall revenues.

Opportunities
1. Emerging Dairy Industry: With organoleptic (flavor, taste & color) features shaping
the dairy industry, improving dairy products can help the company to improve their
market share & reposition itself in dairy market.

2. Changing lifestyle & demand for healthier food products: Improvement in literacy
rate, health awareness, changing lifestyle,& increase in disposable income are
shaping the demand for healthy food products.
3. Overseas Market: Expanding its business to other overseas market can help the
company to emerge as a global player in the food products.

Threats
1. Competition in the market: With increasing number of players (local players
Anmol, Priya & national- ITC, Parle), its becoming very hard for the company to
differentiate themselves from others. There is also threat from counterfeit products
destroying its brand image in the market.
2. Price of raw material: Increasing price of commodities will result in further increase
in the price of the end product. Further increase in price will result in decrease in
profitability or reduced consumption.
3. Buyers power: With highly diversified consumer goods market where there are lots
of brands claiming different sorts of benefits, its very difficult for consumers to stick
to a particular brand & hence results into brand switching where consumer get power
to select a brand based on several factors like availability, reference group
recommendation, preference & price.

CHAPTER-IV
CONCEPTUAL FRAMEWORK
MARKETING STRATEGIES
Marketing Strategy include anything from facts, events, procedures, values and
personalities. Britannia nearly sells all their products all over India and even exports it other
few countries. Their market rate kept growing every year in the Indian market. Therefore,
BIL has implemented a Diversification strategy, so that it becomes the market leader in the
food and biscuits industry. But they made sure that when they diversify, they make similar
kinds of products such as cheese, dairy products and even more bakery items. So the
company can realize their marketing strategies by underlining the opportunities in the
market. There are a various different strategies they adopted. The main marketing strategies
followed by them are

Product strategy.

Reduced losses by way of elimination of losses.

Target customers to capture growth in each category by segmenting the market both

along conventional lines and through segmentation.

Look beyond the product, at the customer. And use knowledge to reposition the brand.

High class R&D and recently enhanced testing and evaluation facilities.

A corporate image of quality.

Four Ps of Marketing Mix.

Packaging policy of the Britannia industry limited

Packaging is most important aspect for the company because of its products is
durable. Therefore company gives much importance for packaging. Thus the packaging
policy adopted by the company for bakery and dairy products is very good. Attractive
package policy helps the company to boost up its sales.
Thus to product mix of the company comprises of various lines branding, packaging policy
and many others

Pricing policy of Britannia industry limited

Price is very important element in marketing mix as realized by Britannia industries
limited. Therefore the management of the company keeping in view of the following
objectives carefully forms the pricing decisions or policies
1)

To maximize there profit

2)

To acquire good market positions

3)

To face their competitions

4)

To keep their price stable

Promotion mix of Britannia industry limited

The products of the company are advertised through television, radio, journals and
newspapers for improving its sales. Season wise they will give offers along with free gift.
Along with new product an existing product will be given at free of cost for the existing
product.
Distribution mix of Britannia industries limited
The company recognizes distributors as an internal part of its management function.
The management feels that it faces a number of initiate problems and dilensucas where
distribution is concerned the goods have to be distributed at maximum possible cost. Yet a
reasonable satisfactory level of service has to be maintained. Distribution level networks
have to reach for and wide and close controls on distribution activities have to be constantly
excised. The carriage and forwarding (c&f) agent will do all the distribution of products on
receiving the order through the estimate form, from the distributor. The distribution will be
done on behalf of the company up to the door of the distributor.

Britannia Product list and its brand range

Britannia Product focused on bringing more productive products and expanding the market
rapidly. It was started in 1892. It has a history of over 120 years and its business has grown
tremendously stepping at higher margin and satisfying consumer needs by giving superior
quality of products. Their brand name including the features, quality, price, design etc. would
help them in growth of rapid sales and keeping regular customer and choosing their product
in the market. The products of Britannia Company were mainly consisting of biscuits, snacks
and dairy products.

STP MARKETING STRATEGY

Segmentation
Age group: Different products for different age groups for example tiger and treat for kids,
little hearts for youths and good-day for elders.
Occasions: Britannias shubhkaamnaaye is for special occasions like Diwali.
Benefits: products like milk bikis, nutrichoice, Britannia tiger are healthy and nutricious.

Targeting
Rural and urban coverage through strong distribution channels.Target all age group
through variety of products i.e. age wise segmented marketing. Britannia follows full market
coverage pattern of target market selection.it has differentiated target market pattern i.e. it
operates in several market segments and design different product for each.

Positioning
Full market positioning: Britannia is market leader in cookies segments.
Use positioning: Nutrichoice products for diabetic people.
Benefit positioning: with eat healthy think better, Britannia positions itself as healthy and
nutritious alternative.

HR STRATEGIES
Britannia Building Society is to bring its payroll and human resources systems back
in house to give it more control over future developments, which include providing selfservice HR functionality for its 4,500 employees.
As Britannia nears the end of a five-year outsourcing contract with HR and payroll
specialist ICS, it plans to roll out a My SAP enterprise system in a two- to three-year HR
change programme, known internally as People Plus.
Helen Bates, the HR change manager responsible for the programmed, said the decision to in
source was driven by the close fit between Britannias plans and My Saps functionality. The
move away from outsourcing was not part of a wider strategy by the building society, but
was the logical outcome of a competitive tender process that identified My SAP as being best
suited to Britannias needs, she said.We wanted to be able to develop applications quickly
and have close control over them, as we have so many plans in this area. Our existing
outsourcing arrangements were too static and did not give us the functionality we needed,
she said.
Bates said Britannia wanted to keep customization of My SAP to a minimum.
Because of the close match we identified, we are confident we will be able to use about 90%
of the systems without undertaking development work, leaving just 10% of it to customize,
she said. Britannia is using HR service provider Pecaso for some of its development work. It
expects to go live with the HR database and payroll systems by the end of the summer, and
introduce self-service functions for staff by the first quarter of next year.

FINANCIAL STRATEGY
Britannia Annual Report 2014-15
Balance sheet
As at
I. EQUITY AND LIABILITIES
(1) Shareholders funds
(a) Share capital
(b) Reserves and surplus
(2) Capital subsidy
(3) Non-current liabilities
(a) Long-term borrowings
(b) Deferred tax liabilities (net)
(c) Other long-term liabilities

` in crores
Note No. 31 March 2015 31 March 2014
2
3
48

4
5
6

(4) Current liabilities

(a) Trade payables
(b) Other current liabilities
(c) Short-term provisions
AI. ASSETS
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets
(ii) Intangible assets
(iii) Capital work-in-progress
(b) Non-current investments
(c) Deferred tax asset (net)
(d) Long-term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories
(c) Trade receivables
(d) Cash and bank balances
(e) Short-term loans and advances

23.99
1,211.63
1,235.62
3.57

7
8
9

10

11
5
12
13
14
15
16
17
18
1

23.99
829.47
853.46
4.28

0.73
19.62
20.35

0.34
9.16
18.77
28.27

615.21
176.33
410.91
1,202.45
2,461.99

484.68
148.37
325.38
958.43
1,844.44

513.24
12.70
48.22
574.16
273.14
21.11
127.15
37.12

529.81
15.85
97.22
642.88
228.95
100.43
12.12

387.90
345.74
70.98
186.67
438.02
1,429.31
2,461.99

144.04
366.86
53.69
65.78
229.69
860.06
1,844.44

FINANCIAL STRATEGY
Comparative Balance Sheet of Britannia industries ltd during the year
March2014-March2015
Particulars

Mn

Mn

As at

As at

31-Mar14

Increas percent
e/
age
31-Mar- Decrea
15
se

EQUITY AND LIABILITIES

Shareholders' Funds
Share Capital
Reserves and Surplus
TOTAL
Capital subsidy

23.99
829.47
853.46
4.28

23.99

1,211.6 382.16 46.07

3
1,235.
62
3.57

-0.71

16.588

Non-Current Liabilities
Long-Term Borrowings

0.34

0.73

0.39

14.70

Deferred Tax Liabilities (Net)

9.16

-9.16

-100

Other Long-Term Liabilities

18.77

19.62

0.85

4.52

Total

28.27

20.35

Trade Payables

484.68

615.21

130.53 26.93

Other Current Liabilities

148.37

176.33

27.96

18.84

Short-Term Provisions

325.38

410.91

85.53

26.28

TOTAL

1844.4
4

2461.9 617.55 33.48

9

Current Liabilities

ASSETS
Non-Current Assets
Non-Current investments

228.95

273.14 44.19

19.30

Tangible Assets

529.81

513.24

-16.57

3.12

Intangible Assets

15.85

12.70

-3.15

19.87

Capital Work-in-Progress

97.22

48.22

-49.00

50.40

Long-term loans and advances

100.43

127.15

26.72

26.60

Other Non-Current Assets

228.95

273.14

44.19

19.30

Deferred taxes assets

21.11

21.11

100

Current Investments

144.04

387.90

243.86 69.30

Inventories

366.86

345.74

-21.12

5.75

Trade Receivables

53.69

70.98

17.29

32.20

Cash and Bank Balances

65.78

186.67

120.89 83.77

Short-Term Loans and Advances

229.69

438.02

208.33 90.70

860.06

1,429.3 569.25 66.18

1

TOTAL
Current Assets

TOTAL

1,844.4 2,461.
4
99

33.48
617.55

INTREPETITION: from the above comparative balance sheet it is clear that

working capital is having negative balance; it is not a good sign for the
company.

CHAPTER-V
FINDINGS
The company should have to focus on its competitors more aggressively, to maintain
its existence in the market for future days.
Gradual increase in the price of the raw materials may influence the raising the price
of the product, so the company should focus on alternatives to procure its required
raw materials.

Its very difficult for consumers to stick to a particular brand in this the company must
change their strategies, products differention is compulsory.

SUGGESTIONS
The company should focus on its competitors and need to differentiate its products in
order to avoid counterfeit production activities of competitors.
They may introduce varieties of packages.
As there is a chance for the company to increase its sales in dairy based products,
focusing on dairy based products should increase the chances of getting more profits.
They may concentrates in advertisements to create new customers.
Reduction in the price of the Biscuits should leads to new opportunities for the
company.

CONCLUSION
This helps me acquiring more practical knowledge relating to the project. During the data collection I
know about art of collecting data i.e., profiles, strategies vision, mission of corresponding Britannia
company. The analytical knowledge of me is improved by this research on project. This project helps
to know the companys financial position, hr system, and marketing strategy also. Hope all the
knowledge gained by me during this internal project will very helpful to me for my main project and
also in my future carrier.

GLOSSARY

www. BRITANNIA.com

Financial management-awatappa//himalaya

www.moneycontrol.com

www.financialexpress.com.

www.wikipedia.com

www.indianfinancelevel.com

www.webindia.com

www.businesstimes.com

Marketing91.com

Hindustantimes.com/articals

Company website: www.BRITANNIAretail.net