Britannia’s Q3 growth got a lift from higher grammage packs after GST cuts, but rising regional competition and rich valuations mean long-term growth must come from adjacencies and e-commerce.
Britannia's Q3 growth got a lift from higher grammage packs after GST cuts, but rising regional competition and rich valuations mean long-term growth must come from adjacencies and e-commerce.
Britannia Industries Ltd's December quarter (Q3FY26) earnings were largely in line with expectations, with consolidated revenue rising 9.5% year-on-year to ₹4,885 crore. Growth during the quarter was evenly driven by volumes and realizations, as the company increased grammage for its ₹5 and ₹10 packs following the Goods and Services Tax (GST) rate cut in September.