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BRITANNIA INDUSTRIES LTD.

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Page 1: 75043708 Britannia Industries Ltd Section A

BRITANNIA INDUSTRIES LTD.

Page 2: 75043708 Britannia Industries Ltd Section A

1892 - A humble genesis was made to manufacture biscuits in a small house in Central Calcutta, with an investment of Rs.295.

1897 - The business was acquired by Gupta brothers who moved operations to Dum Dum in Calcutta under the name of V.S. Brothers.

1918 - Mr C. H. Holmes, an English business man, partnered with Gupta Brothers. Britannia was incorporated on the 21st of March 1918 as a public limited company under the Indian Companies Act VII of 1913.

1921 - Britannia obtained priority certi cate to import new machinery. It became the rst company east of the Suez Canal to use gas ovens.

1924 - New factories were established in Mumbai and Calcutta. Britannia became a subsidiary of Peek, Frean & Company Limited, a leading biscuit company in UK.

1935-45 - During World War II Britannia diverted 95% of its production for manufacturing ‘service biscuits’ for soldiers.

1954 - High quality sliced and packaged bread was pioneered and launched in Delhi.

1979 - On 3rd October, the Company was re-christened from Britannia Biscuit Company Limited to Britannia Industries Limited.

1983 - Sales crossed the Rs. 100 crore milestone.

1992 - Britannia celebrated its Platinum jubilee and launched `Little Hearts’.

1993 - The Wadia Group acquired a stake in ABI Holdings Limited (ABIH), United Kingdom and became an equal partner with Groupe DANONE in BIL. Brand ‘50-50’ was launched.

1997 - ‘Eat Healthy, Think Better’ became the new corporate mantra. Britannia entered the dairy business. ‘Tiger’ biscuits were launched. ‘Jim Jam’ and ‘Chekkers’ were launched.

2000 - Forbes Global ranked Britannia among the Top 200 small companies. Britannia was ranked No.1 food brand of the country. Britannia Lagaan Match was India’s most successful promotional activity of the year.

2002 - Britannia formed a joint venture with Fonterra, the world’s second largest dairy company and Britannia New Zealand Foods Private Limited was born.

2005 - Brand Tiger’s re-birth was marked by the slogan ‘Swasth Khao, Tiger Ban Jao’, which became a popular chant. Britannia launched ‘Greetings’ a range of assorted gift packs. Britannia ‘50-50 Pepper Chakkar’ was launched.

2007 - In a survey conducted by AC Nielsen ORG-Marg and published in the Economic Times, Britannia was rated the No.1 MOST TRUSTED FOOD BRAND. It also ranked as No.1 Brand in Metros across all categories.

2007 - Britannia Industries formed a joint venture with the Khimji Ramdas Group and acquired a 70 per cent bene cial stake in the Dubai-based Strategic Foods International Co. LLC and 65.4% in the Omanbased Al Sallan Food Industries Co. SAOG.

2008 - Britannia launched Iron forti ed ‘Tiger’ biscuits, ‘Good Day Classic Cookies’, Low Fat Dahi and renovated ‘MarieGold’.

Page 3: 75043708 Britannia Industries Ltd Section A

BOARD OF DIRECTORS

CHAIRMAN:

Nusli N Wadia

MANAGING DIRECTOR:

Vinita Bali

DIRECTORS:

Keki Dadiseth

Avijit Deb

Stephan Gerlich

A K Hirjee

Philippe - Loic Jacob

Nimesh N Kampani

S S Kelkar

Vijay L Kelkar

Pratap Khanna

Ness N Wadia

Jeh N Wadia

Nasser Munjee

Francois-Xavier Roger

Field Marshal Sam Manekshaw M C - Director Emeritus

CHIEF FINANCIAL OFFICER:

Durgesh Mehta

COMPANY SECRETARY:

V Madan

Page 4: 75043708 Britannia Industries Ltd Section A

AUDITORS:

Lovelock & Lewes

Chartered Accountants

5th Floor, Tower D, The Millenia

1 & 2 Murphy Road, Ulsoor

Bangalore - 560 008.

BANKERS:

State Bank of India

Standard Chartered Bank

ABN Amro Bank N.V.

Citibank N.A.

The Hongkong & Shanghai Banking Corporation

Limited HDFC Bank Limited

ICICI Bank Limited

Indian Bank

Bank of America

Deutsche Bank

Page 5: 75043708 Britannia Industries Ltd Section A

SECTION –A

COMPANY PROFILE COMPANY BACKGROUND & PROFILE

The story of one of India's favourite brands reads almost like a fairy tale. Once upon a time, in 1892 to be

precise, a biscuit company was started in a nondescript house in Calcutta (now Kolkata) with an initial

investment of Rs. 295. The company we all know as Britannia today.

The beginnings might have been humble-the dreams were anything but. By 1910, with the advent of

electricity, Britannia mechanised its operations, and in 1921, it became the first company east of the Suez

Canal to use imported gas ovens. Britannia’s business was flourishing. But, more importantly, Britannia

was acquiring a reputation for quality and value. As a result, during the tragic World War II, the

Government reposed its trust in Britannia by

contracting it to supply large quantities of "service biscuits" to the armed forces.

As time moved on, the biscuit market continued to grow and Britannia grew along with it. In 1975, the

Britannia Biscuit Company took over the distribution of biscuits from Parry's who till now distributed

Britannia biscuits in India. In the subsequent public issue of 1978, Indian shareholding crossed 60%,

firmly establishing the Indianness of the firm. The following year, Britannia Biscuit Company was

re-christened Britannia Industries Limited (BIL). Four years later in 1983, it crossed the Rs. 100 crores

revenue mark. On the operations front, the company was making equally dynamic strides. In 1992, it

celebrated its Platinum Jubilee. In 1997, the company unveiled its new corporate identity - "Eat Healthy,

Think Better" - and made its first foray into the dairy products market. In 1999, the "Britannia Khao,

World Cup Jao" promotion further fortified the affinity consumers had with 'Brand Britannia'.

Britannia strode into the 21st Century as one of India's biggest brands and the pre-eminent food brand

of the country. It was equally recognised for its innovative approach to products and marketing: the

Lagaan Match was voted India's most successful promotional activity of the year 2001 while the

delicious Britannia 50-50 Maska-Chaska became India's most successful product launch. In 2002,

Britannia's New Business Division formed a joint venture with Fonterra, the world's second largest

Dairy Company, and Britannia New Zealand Foods Pvt. Ltd. was born. In recognition of its vision and

accelerating graph, Forbes Global rated Britannia 'One amongst the Top 200 Small Companies of the

World', and The Economic Times pegged Britannia India's 2nd Most Trusted Brand.

Page 6: 75043708 Britannia Industries Ltd Section A

Today, more than a century after those tentative first steps, Britannia's fairy tale is not only going strong but

blazing new standards, and that miniscule initial investment has grown by leaps and bounds to crores of

rupees in wealth for Britannia's shareholders. The company's offerings are spread across the spectrum with

products ranging from the healthy and economical Tiger biscuits to the more lifestyle-oriented Milkman

Cheese. Having succeeded in garnering the trust of almost one-third of India's one billion population and

a strong management at the helm means Britannia will continue to dream big on its path of innovation and

quality. And millions of consumers will savour the results, happily ever after.

For the year ended 31st March 2010, the Company achieved a sales growth of 17.5% on an expanded base

arising from 27.5% growth in the previous year. Net Profit of the Company increased 77.5 % to Rs 1,910 Mn

compared with Rs 1,076 Mn in 2008-09. Operating Margin increased by 307 basis points to 7.5%.

The Company witnessed all round growth in key categories with Biscuits recording sales of Rs. 23,299

Mn. Bread, Cake and Rusk business crossed the Rs. 2,700 Mn mark during 2009-10. This business has

doubled in two years.

In an intensely competitive biscuit environment, all ‘Power Brands’ of the Company recorded double digit

growth, with Tiger and Good Day growing in excess of 20%. The Company’s innovation forays have

successfully addressed new benefit clusters and NutriChoice Digestive has claimed its position in the

health and vitality space. The Company continues to maintain its leadership edge in 6 out of 7 key

product segments, the only exception being Glucose.

The Company introduced several new and renovated offerings in Tiger, Good Day, Treat and MarieGold.

The health and nutrition platform was buttressed by Tiger Banana with ‘iron-zor’, fortified Milk Bikis,

renovated MarieGold and Nutrichoice Digestive. To tap the more indulgent consumers, your Company

launched Good Day.

Classic Cookies, while continuing to roll out individual consumption packs at the highly affordable Rs. 5

price point. The Bread, Cake and Rusk portfolio was strengthened with the successful relaunch of Breads,

fortified with vitamins and minerals, positioning them firmly as the healthy start to your day. This

innovation combined with relevant consumer activation in key markets has seen a 30%+ growth in the Bread,

Cake and Rusk business.

Page 7: 75043708 Britannia Industries Ltd Section A

As a Corporate, Britannia worked for the benefit of all stakeholders - shareholders, consumers, dealers ,

suppliers, bankers and employees. It has established an excellent track record in terms of its financial

performance and dividends distributed to its shareholders. This has been adequately demonstrated with

the Company's topline growing from Rs 10,301 Mn in 2001 to Rs 26,176 Mn in 2010, a growth of 154%

over the last 10 years. The net profit grew even more significantly at 382% from Rs 396 Mn in 1998-99 to

Rs 1,910 Mn in 2009-10, giving a CAGR of 19.1%. As at 31st March 2008, the issued and paid up capital

of Britannia amounts to 23, 890,163 equity shares having a nominal value of Rs 10 each. The

shareholder base is about 25,300 in number

COMPANY HISTORY

Page 8: 75043708 Britannia Industries Ltd Section A

1918

The Company was Incorporated on 21st March, as a public limited company under the Indian

Companies Act, VII of 1913. The Company Manufacture bakery and soyabean products, export of

cashew Kernels marine products, general merchandise items and computer software.

1921

The Company obtained a priority of Certificate and imported new machinery thereby becoming the first

biscuit company in India to install and run a gas oven plant.

1924

A new factory was established at Kasara Pier Road in Mumbai. In the same year, the Company

became a subsidiary of Peek, Frean & Co. Ltd., U.K., a leading biscuit manufacturing company,

and further strengthened its position by expanding the factories at Calcutta and Mumbai.

1939-45

A large part of the Company's production was diverted to war effort on account of World War II and

at times as much as 95% of the total capacity was booked for the production of Service Biscuit.

1951

19,779 Equity shares issued to acquire the Delhi Biscuit Co. Ltd. In August 1,53,234 Bonus equity

shares issued in the proportion 1:1.

1952

The Calcutta Factory was shifted from Dum Dum to spacious grounds at Taratola Road in the

suburbs of Calcutta. During the same year automatic plants were installed there and later in

Mumbai in 1954.

1954

The development of high quality sliced and wrapped bread in India was pioneered by the Company

and was first manufactured at Delhi. 1,53,234 Bonus equity shares issued in the proportion 1:2.

1961

Manufacture of bread was started in Mumbai and a new bread bakery was set up at Delhi in 1965.

Page 9: 75043708 Britannia Industries Ltd Section A

2,29,851 Bonus equity shares issued in the proportion 1:2.

1966

In May 1966, 3,06,468 Bonus equity shares issued in the proportion 4:9.

1968

On 14th May, 6,64,014 Bonus equity shares issued in the proportion 2:3.

1970

9,96,021 Bonus equity shares issued in the proportion 3:5.

1976

Britannia bread was introduced in Calcutta and Chennai.18,59,239 Bonus equity shares issued in

the proportion 7:10 in April.

1978

After the issue of shares to the Indian public, the non-resident holding in the Company was

reduced to less than 40%.18,00,000 Equity shares issued at a premium of Rs 5 per share 4,06,286

shares offered as rights to resident Indian shareholders in proportion 1:5. 43,714 shares offered to the

Company's employees; 1,00,000 shares to UTI and 50,000 shares each to LIC and GIC were

reserved for allotment and 11,50,000 shares offered to the public during January/February.

1979

With effect from 3rd October, the name of the Company was changed from the Britannia Biscuit Co.,

Ltd., to Britannia Industries Ltd.

1980

The Company signed a 10 year technical collaboration agreement with Nebico Pvt. Ltd., Nepal, for

the supply of know-how relating to manufacturing, packaging and marketing of biscuits and selection

of plant and machinery.

1982

25,26,118 Bonus equity shares issued in proportion 2:5.

1986

Page 10: 75043708 Britannia Industries Ltd Section A

The turnover increased by 19.4% over the the previous year to Rs 192.15 crores. Sales of biscuits,

in terms of volume, registered a satisfacotry growth. Good Day, a new biscuit launched during the

year met with good market response. Production of bread at Delhi unit was adversely affected due to

launched pure refined cooking oil under the brand name of Vital. 35,36,565 Bonus shares issued in

proportion 2:5 during July 1987.

1987

In (16 months), the total sales turnover increased on an annualized basis by 38.7% over the previous

year. Increase in sales of bakery and soya products divisions and higher cashew exports helped to

realise higher sales. With the introduction of some more brands during the year, the total biscuit

brands of the bakery division reached

The soya products division introduced a range of extruded products under the brand name VITAL

FEAST.

1989

The Company launched new brand of biscuit, namely, `CIRCUT'. Another brand PURE MAGIC

was extended nationally and posta badam was added to GOOD DAY range of biscuits. Bread

production and affected for some time at Delhi factory due to industrial unrest. 61,88,989 Bonus shares

issued in proportion 1:2.

1990

Two new brands of biscuits,Elaichi Creamand Petit Beurre were launched. Also, a new cashew

badam variant of the brand Milk Bikis and brand extension of Pure magic biscuit Vanilla cream

were launched. Fruit bread was launched in Delhi and was well received.

1991

The Company launched two new speciality brands viz., Britannia milk bread and Britannia brown

bread in Delhi and extended nationally its main brands Petit Beurre and elaichi cream.On 17th

August, the Company handed over to SM Dychem Ltd, its soya unit at Vidisha, MP.The Company

proposed to invest in the equity capital of Britco Company Pvt. Ltd., a joint venture with

JMRPCO Ltd., Hongkong, for manufacture of beverage bases and essence for Coca Cola, Fanta

& Sprite and to export processed snack foods.

1992

Page 11: 75043708 Britannia Industries Ltd Section A

The Company launched a new brand of biscuit, namely `Little Hearts' which carved a niche in the

market.

1993

The Company launched new brand of biscuit, namely, `Fifty-Fifty'.Bread market remained

depressed. To revive the market, the Company launched a speciality brand viz. Premium Bake' in both

Delhi and Mumbai. During the year, the company has started exporting Basmati Rice under the name

`Britannia Indian Pearl'.

1994

During the year, the bakery division launched `Bakers Choice' a sweet biscuit and Thinlite' a light

semi-sweet biscuit aimed at fitness concious consumers.

1995

Under the `Pure Magics' Umbrella, the company launched a new sandwich cream biscuit with two-

in-one flavour viz. double cream and this was well received in the market. In the cake market, under

the premium segment, the company launched with Groupe Danone's technological input a Swissroll

Cake Mini Roule which was also met with good response.

1996

Mariegold biscuits registered quantum growth in volumes and milk bikis milk cream launched during

the year was well received. Despite general slow down in the economy the company's profits

improved.

1997

The Biscuit industry has been dereserved which would not only remove restriction on increasing

capacity but would also provide opportunities of growth through new products and efficient

production systems. The Company undertook to diversify into cheese and dairy whitner. The Company

launched `Tiger' range of biscuits for mass market category, `Jim-Jam' and Chekkers' in the premium

segment. The Company also launched Butter in Delhi during the year.

Britannia Industries (BIL) is one of the largest bakery in the private sector and a household name in food

products. Britannia Industries Ltd (BIL) will shortly enter the cheese and milk products market with an

alliance proposed between itself and the Mumbai-based Dynamix Dairy Ltd.

Britannia Industries Ltd is all set to launch a new corporate identity and a total revamp of its product

portfolio, with strategic inputs from an international strategic design and brand repositioning company -

Shining Strategic Design.

Page 12: 75043708 Britannia Industries Ltd Section A

1998

Food major Britannia Industries Ltd (BIL) has signed a wage agreement with the

Maharashtra General Kamgar Union (MGKU), providing an average wage increase

for 1,000 workers employed in the biscuit manufacturing unit at Reay Road, Mumbai.

The company has launched Half/Half, a soft cake filled with cream in two variants,

chocolate-vanilla and vanilla-orange. Half/Half comes in a twin-cake pack (Rs.6) and

a tray pack containing five cakes. Britannia Industries Ltd has launched a festival

offer for Britannia Dairy Whitener in Kerala.

A India rating has been signed to the Rs.100-crore secured nonconvertible debenture issue from

Britannia Industries Limited (BIL).

1999

Britannia Industries Ltd has rolled out its flavoured milk brand `Zip-Sip' in tetrapaks. Zip-Sip has

been launched in Mumbai and some markets in the South. Britannia Industries, launching the country's

first branded flavoured milk is another step towards its goal of becoming a dairy-products giant. In a

move meant to sharply increase its India-profile, knowledge major' Encyclopaedia Britannica Inc

plans to come out - for the first time - with India and south Asia-specific volumes targeted at school

children as well as institutions and the general `knowledge-seeker'.

2000

Britinnia Industries has launched consumer promotion scheme Britannia Khao, Cricketer Ban Jao'

on May 1st. Britannia Industries, in its second coming in the Indian dairy market under the

Milkman' brand, is introducing a range of products many in desi flavours to woo the Indian consumer.

The Company has launched Vita Mariegold, a semi-sweet biscuit which reportedly has 10 essential

vitamins, milk protein and 58 cereals. Britannia's Milk Bikis Funland biscuits an innovative extension

of the Milk Bikis brand.

The Industry is set to start bread-manufacturing factories in Kochi, Hyderabad and Chennai to tap

the region's market potential. The Company has become the first company to take its products to

the Net in the form of a video file. Britannia Industries has launched Britannia Milkman Butter, a

product under the Milkman brand. The Company has appointed Tata Energy Research Institute (Teri)

for a power audit.

FITCH rating India Pvt. Ltd has reaffirmed the Ind AAA rating assigned to the Rs 1000 million non

convertible debenture program of Britannia Industries Ltd. The Company has launched two new

dairy products Milkman Cold Coffee and Milkman Sweet lassi. Britannia Industries Ltd. has

introduced a new range of traditional namkeens called Britannia Snaz in Mumbai.

2001

Page 13: 75043708 Britannia Industries Ltd Section A

Britannia Industries has launched Britannia Milkman Milk in Delhi.- Biscuits major Britannia

Industries will fund its in-principle agreement to acquire 49 per cent of Kwality Biscuits through

internal accruals.

2002

Britannia Industries Ltd announced on March 26, 2002 that it has entered into a joint venture with the

Fonterra Cooperative Group, New Zealand's biggest company and one of the leading diary co-

operative groups in the world. Britannia's new COO is Nikhil Sen.

2003

Board of Directors of Britannia Industries Ltd has passed a resolution to terminate the employment of

Mr S K Alagh as Managing Director of the company with immediate effect.

The management of Britannia Industries has roped in John Miller, a Danone representative, as

additional director on its board. Britannia New Zealand Foods, a joint venture of Britannia Industries

and Fonterra Co-operative group of New Zealand has launched Britannia MilkMan fresh milk.

Britannia's Non-convertible Debentures have been rated AAA by Fitch Rating India as Stable

Outlook Britannia Industries has appointed Mr. Nikhil Sen, Chief Operating Officer as the manager.

2004

Britannia Industries Ltd has informed that pursuant to the approval of the shareholders of the

Company at the AGM held on August 08, 2003 and the subsequent application to the Cochin Stock

Exchange Ltd., the said stock exchange has delisted the securities of the Company with effect from

November 15, 2003.

Britannia Industries Ltd reviews marketing alliance with the Kolkata-based Thacker Dairy Products.

2005

Britannia New Zealand launches health drink for adult

2006

Britannia Industries Ltd has forged a strategic alliance with CCD Daily Bread Pvt Ltd a Bangalore

based Company engaged in manufacturing and retailing of premium breads, cakes and high end

ready to eat foods and snacks.

Britannia Industries Ltd has appointed Mr. Stephan Gerlich as a Director.

Britannia Industries Ltd has informed that Mr. Durgesh Mehta has joined the Company as the

Chief Financial Officer (CFO) with effect from November 16, 2006.

Page 14: 75043708 Britannia Industries Ltd Section A

Tiger, launched in 1997, became the largest brand in Britannia's portfolio in the very first year of its

launch and continues to be so till today. Tiger has grown from strength to strength and the re-

invigoration in June 2005 and more recently, in Apr 2008 has further helped bolster its growth in

the highly competitive glucose biscuit category Tiger is a Glucose biscuit, which comes with the

added goodness of wheat and milk. It is for modern mothers who play an enabling role for their

children to compete in today's world and thus want the best. Now Tiger Glucose has been fortified

with "Iron Zor" with an attempt towards addressing the Iron Deficiency crisis the children Of India

face.

Over the years, Tiger has become the mass-market face of Britannia symbolising fun and

energy in both urban and rural India, and transcending glucose biscuits.

Tiger Coconut: Delicious Coconut Flavoured Energy Biscuits, launched in 2001.

Tiger Cream: Was introduced in 2002 at just Rs 5 per pack. Tiger Cream is now

available in Orange, Elaichi, Chocolate, Pineapple, Strawberry and Butterscotch

flavours, and promises to bring more fun and more energy to children across the

country.

Chota Tiger: Is an extension of brand Tiger launched nationally in May, 2007. It is mini sized

poppable glucose biscuit with coloured sugar sprinkling. It comes in two variants: Milk Sparkies and

Choco Sparkies.

Tiger Banana : Britannia is committed to help secure every child's right to Growth & Development

through good food every day. Purposefully taking forward the credo of 'Eat Healthy, Think Better ',

we have launched a new variant under our power brand TIGER - TIGER BANANA - power packed

with IRON ZOR & and with the delightful taste of banana.

Britannia Good Day was launched in 1986 in two delectable avatars - Good Day Cashew and Butter.

Over the years, new variants were introduced - Good Day Pista Badam in 1989, Good Day

Chocochips in 2000 and Good Day Choconut in 2004.

This rich biscuit enjoys a fan following of consumers across all ages, loyal to the brand promise of a

great taste evident from the visibly abundant ingredients. Good Day is amongst the fastest growing

brands in Britannia's portfolio and is today the market leader with almost 2/3 share of the market.

The brand is synonymous with everyday treats that infuse happiness into people's daily lives.

After two decades of magnificent success; it was time to give the nation yet another reason to have a

good day. Abundance, goodness, indulgence and now unrestrained joy - that is the message of this

new campaign.

Page 15: 75043708 Britannia Industries Ltd Section A

The new TT ad is the uncontrollable expression of the ticket collector's happiness and joy that is

stimulated by consumption of the cookie, that spreads cheer amongst the people around him

creating an atmosphere of shared joy that's unorchestrated and straight from the heart. The

celebration was taken to the IPL as Good day cheered along with a million cricket fans in the

stadiums, each screaming and proclaiming "Ho gaya re Good Day". The dazzling brilliance of this

endeavour, the contagious rhythm needs to be lived and spread through the nation, making 'Iska toh

ho Gaya Re Good Day' a part of the common lingo and a way of life.

Good Day truly believes laughter and happiness are infectious, it transcends race, caste creed

unifying humanity in an inclusive emotion.

The brand perseveres to infuse cheer, hearten the nation and enliven lives. With its rightful place on

the front page of The Times of India, Good Day gifts the nation a priceless treasure, that of

spreading JOY!

With a brand name like 50-50, can the product be anything but fun? Launched in 1993, 50-50 belongs

to the family of crackers and is considered the "very very tasty tasty" snack. Britannia 50-50 is the

leader in its category with more than one-third of market share. The versatile and youthful brand

constantly aims to provide a novel and exciting taste experience to the consumer. As a result, in

2001, the delicious Maska Chaska was launched as a variant of the original brand and became an

instant success.

Kids may dislike drinking milk, but they love Britannia Milk Bikis! Milk Bikis has been trusted by

mothers as a source of growth energy of milk and their loyalty to the brand has made it an

integral part of their children's nutrition regimen In 1996, Milk Bikis launched a variant called

Milk Cream. These round biscuits come with smiley faces and are full of milk cream that makes

them very popular with children. Milk Cream also promoted the idea of 'eating milk' in a yummy

way, which makes mothers happy as well

To keep pace with the demands of the new generation and to bring milk nutrition to the masses in a

delightful form, Milk Bikis, went one step further in the last quarter of 2006 in providing not just

energy but ‘developmental fuel’ for children. With a unique and attractive honeycomb design and an

enhanced product experience, the new biscuit is now fortified with SMART NUTRIENTS - 4 vital

vitamins, iron and iodine, proven to aid mental and physical development in growing kids.

Britannia's oldest brand enjoys a heritage that spans the last 50 years - and going strong. In a market

swamped with me-too products and where even the name 'Marie' has become generic, Britannia

Marie Gold has maintained its stronghold. Today, the ever-popular Marie Gold is synonymous with

the 'Tea Time Biscuit'. Its taste, crispiness and lightness make it a must for every tea break. It is the

#1 brand in its category by a long shot.

Page 16: 75043708 Britannia Industries Ltd Section A

SHAREHOLDING PATTERN OF THE COMPANY

No. of shareholders Total no. of shares No. of shares in demat form %

1 450 450 0- - - -1 300 - 0- - - -- - - -2 750 450 0

- - - -6 12173219 1392319 50.96- - - -- - - -

6 12173219 1392319 50.968 12173969 1392769 50.96

25 1680226 1679296 7.0320 15519 13295 0.06- - - -- - - -9 2639980 2639703 11.05

24 2777550 2777550 11.63- - - -- - - -

78 7113275 7109844 29.77

497 259334 237767 1.09

24706 3476728 2432135 14.55

36 862529 524870 3.617 4328 4328 0.02

25246 4602919 3199100 19.2725324 11716194 10308944 49.04

25332 23890163 11701713 100