Preview: India's Britannia slides ahead of Q2 results

Britannia Industries

11/11/2024 07:33

** Shares of Britannia Industries  BRIT.NS  drop 2.4% to
5,610.55 rupees
    ** Biscuits maker is biggest pct loser on Nifty FMCG index
 .NIFTYFMCG , which is down 0.2% 
    ** Analysts expect BRIT to post Q2 profit of 6.22 bln rupees
($73.7 mln), a nearly 6% y/y rise - LSEG data 
    ** Analysts see a 7% growth in revenue at 47.39 bln rupees 
    ** PL Capital analysts expect signs of improvement in rural
demand while urban demand to be impacted by food inflation,
recent floods 
    ** Says competitive intensity across detergents, hair oil,
skin products, deodorants, instant noodles, and juices remained
intense 
    ** HDFC Securities Research says overall demand remained
subdued in Q2 due to higher inflation and above-average rainfall
    ** Analysts' avg rating on stock is "buy", same as peer
Dabur  DABU.NS  and Marico  MRCO.NS  
    ** BRIT up 5.3% YTD vs 5.8% drop in DABU; MRCO up 14% YTD
    
($1 = 84.3725 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))