Britannia Industries is renowned for its hefty dividend payouts. Once more, the FMCG juggernaut is prepared to distribute a sizable interim dividend for the fiscal year FY23 of 72 per equity share. The shares of Britannia will therefore stop paying dividends this week.
In percentage terms, Britannia will be paying a whopping interim dividend of 7200%.
Declared Interim Dividend
For the Financial Year 2022–23, Britannia “declared an Interim Dividend @ 7200% i.e., Rs. 72/per Equity Share of the face value of Re 1 each,” according to a statement last week.
Additionally, the business established April 13th as the record date for identifying stockholders who are entitled to the $72 per share dividend benefit.
Britannia shares will go ex-dividend on April 13th, which is also the record date because the listed equities now follow the “T+1” settlement option. Simply expressed, the shareholders who are entitled to receive the interim dividend of Rs 72 per share on April 13th are those whose names are recorded in the company’s registrar on exchanges and relevant depository on that date.In FY22, the company paid a 5650% dividend aggregating to ₹56.5 per equity share. The company paid a dividend of ₹12.50 per share (1250%) in FY21.
Let us look at the Fundamnetals
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 4,609 | 5,485 | 6,185 | 6,913 | 7,858 | 8,397 | 9,054 | 9,914 | 11,055 | 11,600 | 13,136 | 14,136 | 15,828 |
| Expenses + | 4,393 | 5,174 | 5,765 | 6,286 | 6,988 | 7,174 | 7,776 | 8,413 | 9,322 | 9,756 | 10,627 | 11,935 | 13,248 |
| Operating Profit | 216 | 311 | 421 | 627 | 870 | 1,224 | 1,278 | 1,501 | 1,732 | 1,843 | 2,509 | 2,201 | 2,580 |
| OPM % | 5% | 6% | 7% | 9% | 11% | 15% | 14% | 15% | 16% | 16% | 19% | 16% | 16% |
| Other Income + | 79 | 59 | 52 | 34 | 228 | 115 | 151 | 166 | 206 | 263 | 313 | 222 | 591 |
| Interest | 44 | 42 | 41 | 8 | 4 | 5 | 5 | 8 | 9 | 77 | 111 | 144 | 168 |
| Depreciation | 65 | 62 | 73 | 83 | 144 | 113 | 119 | 142 | 162 | 185 | 198 | 201 | 212 |
| Profit before tax | 187 | 267 | 358 | 569 | 950 | 1,220 | 1,304 | 1,518 | 1,768 | 1,844 | 2,514 | 2,078 | 2,791 |
| Tax % | 28% | 25% | 27% | 30% | 28% | 32% | 32% | 34% | 35% | 24% | 26% | 27% | |
| Net Profit | 134 | 200 | 260 | 395 | 689 | 825 | 885 | 1,004 | 1,155 | 1,394 | 1,851 | 1,516 | 2,137 |
| EPS in Rs | 5.62 | 8.35 | 10.85 | 16.48 | 28.71 | 34.36 | 36.85 | 41.83 | 48.23 | 58.33 | 77.38 | 63.31 | 88.97 |
| Dividend Payout % | 58% | 51% | 39% | 36% | 28% | 29% | 30% | 30% | 31% | 60% | 204% | 89% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 9% |
| 3 Years: | 9% |
| TTM: | 15% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 24% |
| 5 Years: | 11% |
| 3 Years: | 9% |
| TTM: | 22% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 32% |
| 5 Years: | 11% |
| 3 Years: | 15% |
| 1 Year: | 28% |
| Return on Equity | |
|---|---|
| 10 Years: | 40% |
| 5 Years: | 38% |
| 3 Years: | 42% |
| Last Year: | 50% |
.
Balance Sheet
Consolidated Figures in Rs. Crores / View StandaloneCORPORATE ACTIONS
| Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Share Capital + | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 |
| Reserves | 302 | 385 | 534 | 774 | 1,221 | 2,068 | 2,672 | 3,382 | 4,229 | 4,379 | 3,524 | 2,534 | 2,017 |
| Borrowings + | 618 | 604 | 380 | 150 | 145 | 131 | 125 | 201 | 156 | 1,538 | 2,122 | 2,481 | 3,038 |
| Other Liabilities + | 675 | 829 | 946 | 1,159 | 1,403 | 1,271 | 1,288 | 1,581 | 1,829 | 1,889 | 2,331 | 2,475 | 2,833 |
| Total Liabilities | 1,619 | 1,842 | 1,883 | 2,107 | 2,793 | 3,494 | 4,109 | 5,188 | 6,238 | 7,830 | 8,000 | 7,515 | 7,912 |
| Fixed Assets + | 505 | 624 | 737 | 848 | 844 | 950 | 1,160 | 1,346 | 1,688 | 1,878 | 1,793 | 1,753 | 1,734 |
| CWIP | 13 | 111 | 147 | 107 | 48 | 90 | 30 | 203 | 101 | 40 | 117 | 536 | 879 |
| Investments | 389 | 249 | 108 | 198 | 518 | 788 | 487 | 1,079 | 1,476 | 2,893 | 2,781 | 1,762 | 1,412 |
| Other Assets + | 713 | 858 | 891 | 954 | 1,383 | 1,665 | 2,432 | 2,560 | 2,972 | 3,019 | 3,310 | 3,463 | 3,887 |
| Total Assets | 1,619 | 1,842 | 1,883 | 2,107 | 2,793 | 3,494 | 4,109 | 5,188 | 6,238 | 7,830 | 8,000 | 7,515 | 7,912 |
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