Britannia’s market cap crosses Rs 1 lakh crore as market share hits 15-year high

Britannia's consolidated sales during the September quarter surged 22 percent to Rs 4,338 crore. Sales were aided by an 18 percent price hike that the company undertook during the quarter.

Berry also spoke of raw material prices during the earnings call, which he expects to stabilise going forward. 65 percent of the company's raw material procurement comes in the form of wheat, sugar, and palm oil. While prices of palm oil have corrected, Berry expects the prices of wheat to remain firm until the next season.

After Berry's elevation as Executive Vice Chairman & MD, Ranjeet Kohli has been appointed as the company's new Chief Executive Officer and will take over the day-to-day operations of the company. Berry added that Kohli will focus on building the company's digital push.

Britannia also borrowed Rs 1,000 crore to fund its Capex in the dairy project and greenfield plants in Uttar Pradesh and Tamil Nadu. Berry mentioned that the company took debt to fund Capex as the cost of debt at 5.8 percent was attractive.

In line with the results of Britannia, shares of Bombay Burmah Trading Corporation Ltd. are also trading with gains of as much as 8 percent on Monday at Rs 949. Bombay Burmah holds a 50.22 percent stake in Britannia and has a market capitalisation of Rs 6,600 crore.

Shares of Britannia are currently trading 9 percent higher at Rs 4,144.10.