Shares of Britannia Industries jumped 10 percent on Thursday after it declared interim dividend at 3500 percent which is Rs 35 per share of the face value of Re 1 each for the Financial Year 2019-20.

Share Market Live

NSE

The stock has recovered 51 percent from its 52-week low of Rs 2,100 touched on March 23, 2020.

The BSE filing further stated, "the record date for the purpose of determining the entitlement of the shareholders for the interim dividend is Saturday, 2nd May 2020. The interim dividend will be paid/dispatched to the shareholders before 23 May 2020,"

For the March quarter, HDFC Securities estimates weak Q4 performance by Britannia Industries. It expects the company's net sales to fall 2 percent YoY and EBITDA to reduce by 4 percent YoY to Rs 420 crore.

The brokerage said that the impact from COVID-19 on the FMCG sector will be sharper on revenues for companies in March quarter, despite many essential categories that have witnessed pre-buying at the offtake level in March.

Centrum Broking expects Britannia's revenue to increase 5.1 percent YoY, led by 3 percent domestic volume growth and the rest from product and price mix change.

Meanwhile, Edelweiss Securities expects Britannia’s revenue and EBITDA to decline 6.9 percent and 10.1 percent YoY, respectively to Rs 2,605.5 crore and Rs 392.3 crore. PAT is expected to grow 1.6 percent YoY to Rs 299.1 crore.

"We expect a weak quarter with 4.1 percent topline growth in the standalone business (2.5 percent volume growth and 1.6 percent price+mix). Furthermore, weaker performance in the international business is expected to further drag consolidated performance," said Kotak Institutional Equities which expects 15 percent growth in the consolidated profit and 3.7 percent in revenue.