Britannia Industries Limited (BRITANNIA) Fair Value & Analysis
Consumer Defensive · IN · Market cap ₹1.3T (≈ $13.8B) · ISIN INE216A01030
What is Britannia Industries Limited really worth?
A solid business, but trading 52% above our fair value of ₹3,367.
Strengths
Risks
For context
Fair value as of: Aug 21, 2026
From 26 valuation models · updated 15 days ago
Fair value updated Aug 21, 2026, revised from ₹1,870 to ₹3,367 (+80.0%) since Aug 13, 2026. Share price −7.8% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A high-quality business (quality 74/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The model range is unusually wide (₹2,506 to ₹7,883). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
60‑month range ₹2,869 – ₹6,363 · fair‑value band ₹2,506 – ₹7,883 · the ₹5,102 price screens above the ₹3,367 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.
Analysis
Britannia Industries Limited (BRITANNIA) currently trades at ₹5,102, while our model-based Fair Value estimate is ₹3,367, implying the stock looks roughly 51.5% overvalued today. The Quality Score stands at 74/100 (solid quality), in the Consumer Defensive sector. Bull case: the Growth Earnings group reads highest at a median of ₹4,815 per share, and 0 of the 26 models we run sit above the ₹5,102 price. Bear case: the Economic Profit group reads lowest at ₹885.95, and 26 of the 26 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Britannia Industries Limited generated revenue of ₹192B at a net margin of 13.2%. Revenue grew 7.9% year over year. It earns a return on equity of 53.3%. Net debt stands at ₹10.3B. Fundamentals as of Aug 21, 2026
Our scenario range runs from ₹2,506 (bear case) to ₹7,883 (bull case); at ₹5,102, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 19% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −25% fair-value upside, at −34%, BRITANNIA screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹6.34 per share, which is 0.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth Earnings (₹4,815) versus Asset-Based (₹142.04). Highest evidence: EPV (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 72 · Market factors (momentum, volatility) 46
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Britannia Industries Limited manufactures and sells various food products in India and internationally. The company offers biscuits under the Good Day, Marie Gold, NutriChoice, Milk Bikis, Tiger, 50-50, Jim Jam, Britannia Bourbon, Little Hearts, Treat, Pure Magic, Nice Time, and Biscafe brand names; cakes under the Muffills, Fudge It, Gobbles, Layerz, …
Full company description
Britannia Industries Limited manufactures and sells various food products in India and internationally. The company offers biscuits under the Good Day, Marie Gold, NutriChoice, Milk Bikis, Tiger, 50-50, Jim Jam, Britannia Bourbon, Little Hearts, Treat, Pure Magic, Nice Time, and Biscafe brand names; cakes under the Muffills, Fudge It, Gobbles, Layerz, Tiffin Fun, Rollyo, and Nut & Raisin Romance Cake brand names; rusks under the Toastea brand; center filled croissants under the Treat Croissant brand; wafers under Treat Creme Wafers brand; and Snacks under Time Pass brand name. It also offers dairy products, such as cheese and dairy whitener, as well as gourmet, wheat flour, and white breads under Britannia brand; milkshakes, lassi, and flavored milk under Winkin' Cow brand; paneer and dahi under Come Alive brand; and nutritious bars under Be You Protein Bars brand name. The company exports its products to approximately 80 countries worldwide. Britannia Industries Limited was founded in 1892 and is based in Bengaluru, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Britannia Industries Limited reported revenue of ₹192B in FY2026 versus ₹141B in FY2022, a compound +8.0%/yr. Reported net income was ₹25.3B in FY2026, compounding +13.5%/yr from FY2022.
of which total revenue +8.8 % · buybacks/dilution +0.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
BRITANNIA screens 52% overvalued. Compare with Nestlé S.A →
Peer Group
Packaged Foods · 648 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Packaged Foods median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nestlé S.A NESN | CHF 78.62 | CHF 57.26 | −27% |
| Danone S.A BN | €64.28 | €48.41 | −25% |
| Nestlé India Limited NESTLEIND | ₹1,478 | ₹251.94 | −83% |
| The Kraft Heinz Company KHC | $25.13 | $24.59 | −2% |
| Foshan Haitian Flavouring and Food Company 603288 | ¥35.05 | ¥21.93 | −37% |
| Inner Mongolia Yili Industrial Group 600887 | ¥25.51 | ¥32.50 | +27% |
| Yihai Kerry Arawana Holdings 300999 | ¥25.28 | ¥9.89 | −61% |
| General Mills, Inc GIS | $40.44 | $28.32 | −30% |
| Wilmar International Limited F34 | 3.64 SGD | 3.89 SGD | +7% |
| McCormick & Company MKCV | $55.65 | $43.29 | −22% |
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