FMCG major Britannia Industries Ltd is planning to enter into newer categories which have an appeal to the youth, chairman Nusli N Wadia said in the company’s 97th annual general meeting recently.
Addressing shareholders, Wadia said the company will be cautious with such launches since it does not want them to be labelled as junk. “There are several products which are in the pipeline,” he said, without divulging further details.
Britannia’s 2015-16 annual report said opportunities in adjacencies such as chocolate products, breakfast, salted snacks and other ready-to-eat food products is huge. “This is not only borne out by the observed growth rate in India but also by the experience of countries such as Brazil, Malaysia that are one step ahead on the development ladder,” the report said.
Wadia said Britannia has gained market share in biscuits over rivals and the company plans to sustain this performance. “We are going to build new plants in several states, including one in West Bengal. We have put up a new R&D centre for the first time. The capex plans are being worked out,” he said.
The company on Monday also reported a 13 per cent rise in its consolidated net profit to Rs 219.13 crore in the quarter ended June 30, 2016, as compared to Rs 193.66 crore in the corresponding period in 2015.
Its consolidated revenue in the quarter under review grew 8 per cent to Rs 2,162 crore against Rs 1,998 crore in the year-ago period.