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BRITANNIA INDUSTRIES suffers a double requalification, which weighs he...
The independent financial analyst theScreener just downgraded the general evaluation of BRITANNIA INDUSTRIES (IN), active in the Food Products industry. As regards its fundamental valuation, the title loses a star(s) and now shows 0 out of 4 stars. Its market behaviour is also negatively reassessed and may be considered as moderately risky. theScreener believes that this double requalification keeps the title under pressure and justifies an overall rating downgrade to Neutral. As of the analysis...
- Krishnan Sambamoorthy
MOSL: BRITANNIA INDUSTRIES (Buy)-Sales momentum healthy; ICD reduction...
BRITANNIA INDUSTRIES: Sales momentum healthy; ICD reduction a significant positive (BRIT IN, Mkt Cap USD11.4b, CMP INR3504, TP INR4370, 25% Upside, Buy) Britannia Industries (BRIT) reported flat sales and volume growth YoY in 1QFY22, despite an extremely high base of ~27% sales growth (and 21% volume growth), well ahead of expectations. Importantly, it achieved this despite no major pantry loading during the second COVID wave lockdowns. While margins were below expectations – leading to ...
- Dave Nicoski
- Ross LaDuke
Vermilion Int'l Compass: Global Equity Strategy
Stick With Global Technology Global indexes remain overwhelmingly positive which is supported by the fact that there is a dearth of breakdowns. Overall our big picture view remains unchanged; overhead longer-term resistance on the MSCI EM, EAFE, and ACWI ex-US indexes (all priced in local currency) is something to be aware of, however if the ACWI-US is above $70 our intermediate-term outlook remains bullish and we suggest buying any dips. · Index Overviews. Global (MSCI EM, EAFE, and ...
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ASM AVINO SILVER & GOLD MINES
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6754 ANRITSU CORPORATION
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000858 WULIANGYE YIBIN CO. LTD. CLASS A
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2353 NIPPON PARKING DEVELOPMENT
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600559 HEBEI HENGSHUI LAOBAIGAN LIQUOR (A)
600872 JONJEE HI-TECH INDUSTRIAL AND COMMERCIAL HOLDING CO. LTD. CLASS A
3635 KOEI TECMO HOLDINGS CO. LTD.
SOW SOFTWARE AG
01337 RAZER INC
BRITANNIA BRITANNIA INDUSTRIES LTD
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APX LYXOR MSCI AC ASIA EX JAPAN UCITS ETF
- Krishnan Sambamoorthy
MOSL: BRITANNIA INDUSTRIES (Neutral)-Hedges boost EBITDA margin, Volum...
Britannia Industries: Hedges boost EBITDA margin, Volume recovery uncertain (BRIT IN, Mkt Cap USD10.6b, CMP INR3155, TP INR3340, 6% Upside, Neutral) Britannia Industries’ (BRIT) 3QFY20 volume growth was below expectations despite a more favorable base compared to previous quarters. Hedges boosted operating margins but led to higher interest costs. While market share growth continues unabated, the timing of category recovery remains uncertain, thus inhibiting earnings growth. Maintain Ne...
- Krishnan Sambamoorthy
MOSL: BRITANNIA INDUSTRIES (Downgrade to Neutral)-Largely in-line-weak...
BRITANNIA INDUSTRIES: Largely in-line; weak near-term outlook, expensive valuations prompt rating downgrade (BRIT IN, Mkt Cap USD10.7b, CMP INR3195, TP INR3458, 8% Upside, Downgrade to Neutral) At the consol. level, BRIT delivered growth of 6.2% YoY in sales (INR30.5b v/s est. of INR31b), 8.3% YoY in EBITDA (INR4.9b v/s est. of INR4.8b), 9% YoY in PBT (INR5b v/s est. of INR4.8b) and 33.2% YoY in PAT (INR4b v/s est. of INR3.2b) in 2QFY20. Standalone sales were up 7.1% YoY to INR29b, with b...
- Krishnan Sambamoorthy
MOSL: BRITANNIA INDUSTRIES (Buy)-Industry slowdown leads to earnings c...
BRITANNIA INDUSTRIES: Industry slowdown leads to earnings cut; ICD reduction a significant positive (BRIT IN, Mkt Cap USD8.8b, CMP INR2587, TP INR3030, 17% Upside, Buy) Consolidated sales increased 6.2% YoY to INR27b (v/s est. of INR28b). Standalone sales grew 7.2% YoY to INR25.8b with 3% volume growth in base business (v/s est. of +6%). Consol. EBITDA grew 1.4% YoY to INR3.9b (v/s est. of INR4.3b), while consol. PAT grew 2.4% YoY to INR2.6b (v/s est. of INR2.9b). gross margin expanded...
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