Introduction

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.

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.

HISTORY OF BRITANNIA

1892 The Genesis - Britannia established with an investment of Rs. 295 in Kolkata

1910 Advent of electricity sees operations mechanized

1921 Imported machinery introduced; Britannia becomes the first company East of the Suez to use gas ovens

1939 - 44 Sales rise exponentially to Rs.16,27,202 in 1939 During 1944 sales ramp up by more than eight times to reach Rs.1.36 crore

1975 Britannia Biscuit Company takes over biscuit distribution from Parry's

1978 Public issue - Indian shareholding crosses 60%

1979 Re-christened Britannia Industries Ltd. (BIL)

1983 Sales cross Rs.100 crore

1989 The Executive Office relocated to Bangalore

1992 BIL celebrates its Platinum Jubilee

1993 Wadia Group acquires stake in ABIL, UK and becomes an equal partner with Grouped DANONE in BIL

1994 Volumes cross 1,00,000 tons of biscuits

1997 Re-birth - new corporate identity 'Eat Healthy, Think Better' leads to new mission: 'Make every third Indian a Britannia consumer' BIL enters the dairy products market

1999 "Britannia Khao World Cup Jao" - a major success! Profit up by 37%

2000 Forbes Global Ranking - Britannia among Top 300 small companies

2001 BIL ranked one of India's biggest brands No.1 food brand of the country Britannia Lagaan Match: India's most successful promotional activity of the year Maska Chaska: India's most successful FMCG launch

2002 BIL launches joint venture with Fonterra, the world's second largest dairy company Britannia New Zealand Foods Pvt. Ltd. is born

Rated as 'One amongst the Top 200 Small Companies of the World' by Forbes Global Economic Times ranks BIL India's 2nd Most Trusted Brand Pure Magic -Winner of the WordStar, Asia star and India star award for packaging

2003 'Treat Duet'- most successful launch of the year Britannia Khao World Cup Jao rocks the consumer lives yet again

2004 Britannia accorded the status of being a 'Super brand' Volumes cross 3,00,000 tons of biscuits Good Day adds a new variant - Choconut - in its range

2005 Re-birth of Tiger - 'Swasth Khao, Tiger Ban Jao' becomes the popular chant! Britannia launched 'Greetings' range of premium assorted gift packs The new plant in Uttaranchal, commissioned ahead of schedule. The launch of yet another exciting snacking option - Britannia 50-50 Pepper Chakkar

2007 Britannia industries formed a joint venture with the Khimji Ramdas Group and acquired a 70 percent beneficial state in the Dubai-based Strategic Foods International Co. LLC and 65.4% in the Oman-based Al Sallan Food Industries Co. SAOG.

2008 Britannia launched Iron fortified 'Tiger Banana' biscuits, 'Good Day Classic Cookies', Low Fat Dahi and renovated 'MarieGold'.

ABOUT THE INDUSTRY

Biscuits derive its name from a French word meaning twice backed bread; Biscuits in general have a good shelf life, which is higher than all other snack items available in the market. India is the second largest producer of biscuits in the world after the U.S.A. but still the per capita consumption is only 2.3 kg/year of developed countries. As per the latest survey done by N.C.A.E.R., 49 biscuits are consumed in rural areas. The penetration of biscuits into households stands at an average of 83.2% with the rural penetration at 77% and urban penetration at 88%. Biscuits are reserved for the small scale sector but there are strong possibilities of the industry being deserved in line with the government policy of liberalization. The net effect thus would be greater choice for the consumer as well as a check on the costs. The country production of the biscuits during 2004-05 was 18.6 Lac tons of which 1/2 were manufactured by the organized sector. The industry turnover was 5322.7 Crores of which organized sector contributed 2519.3 crores. Britannia, makers of Britannia biscuits, doubled capacity from 25 tons a day to 50 tones and plans to be a national brand soon. In an aggressive mode, the North dominated biscuit player has increased its ad budget to Rs. 5 crore this year from Rs. 3 crore last year. Britannia has also recently invested about Rs. 5 crore in the modernization and expansion of its production and packing its production capacity of 40 tons per day to 100 tons per day by next year. The aim: to take the current turnover of Rs. 50 crore to Rs. 100 crore by the year. The low priced brand claims to have a 15 per cent market share in the North and is aggressively eyeing a bigger bite of the Rs. 2,500 crore biscuit industries. The brand plans to gain a 40 per cent market share in the North by the year of. The company's strategy has been to attract new consumer segments and widen its consumer base with its well packaged low priced offerings. Britannia's success has also come from its formidable.

It gives me great pleasure to introduce the Summer Training Report. It is based on the survey conducted in East Delhi region on Biscuit industry. The applicability of various branding strategies play crucial role in marketing in product. The applicability has grown due to the liberalization, competition and technological changes taking place in corporate world. In this project the various branding strategies adopted by the company has been studied and compared on the basis of current market scenario. It gives the idea about the market share enjoyed by the different companies in the Biscuit Industry. It provides the adequate coverage of many issues related to biscuit industry. The objective of this report is to give the market share of Britannia biscuits in the Indian capital (New Delhi). It has been made possible by knowing the consumer's behavior and by studying the patterns adopted by the retailers. It gives us very precise view about the existing demand of Britannia biscuits and demand of their products as compared to other competitors. It also highlights the changing market trends and consumer preferences, why they have shifted from finally pack to pouch pack. The annual growth rate of the industry is about 12.5%. However, the growth of cream biscuits, assorted or special variety is the range of 30-40%. The organized sector consists of large, medium and small scale biscuit manufacturers who produce packed biscuits. The major players in this sector are Britannia, Bakemans, and Parle, etc. the unorganized sector comprises of small bakery units, cottage and household type manufacturing plants. These units distribute their biscuits in the surrounding vicinity of their manufacturing locations of say 20-50 kms. The country production of biscuits during 2005-06 is estimated to be about 19.5 lack tons. Out of which 1/2 again is expected from unorganized sector.

PRODUCTS

TREAT

As a move to consolidate all the individual Cream Treat offerings under a single umbrella, Britannia launched Treat in 2002. Treat has a range of tasty delights for all kids with yummy creamy treasures within the biscuit shells. The kids have always relished unraveling the irresistibly delicious creams hidden inside the biscuit Britannia Treat offers a wide variety of flavors, such as the Elaichi, the Fruit Flavored Creams such as Orange, Pineapple, Mango, and Strawberry, the Jam Filled Centers under the Jim Jam range, and the Duet Range (biscuits with two flavors of cream between three layers of biscuit) comprising Strawberry Vanilla and Duet Strawberry Chocolate. Britannia Treat has now launched yet another mouth watering delight under its umbrella. The delicious Fruit Rollz take the Treat brand beyond the cream biscuits and provides yet another lip smacking delight to its consumers! Fruit Rollz are soft rolls filled with the goodness of real fruits, and provide a healthy yet scrumptious treat to our 'loveable devils' Treat also introduced its naughty and adorable brand mascot FUNTOOSH whose primary occupation is mischief! FUNTOOSH is the guy who will pull off any trick to make sure he gets to eat his Britannia Treat! For all you kids, who have relished the yummy treasures of Britannia Treat in exciting flavors, look out for yet another reason to celebrate!

Britannia Treat launches a new and exciting combination of chocolate and caramel in a single bar - TREAT CHOCO GELO. This unique and never before product is guaranteed to double the masti and double the fun that you have with Treat. Treat Choco Gelo has been launched nationally in August, 2007 and is available at an attractive price of just Rs.5/So go ahead, open this delicious pack, indulge yourself with Treat Choco Gelo and enjoy Yummy Chocolate and Gooey Caramel for "Double Masti ka Double Dose" TIGER

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 reinvigoration 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 symbolizing fun and energy in both urban and rural India, and transcending glucose biscuits. Tiger Coconut: Delicious Coconut Flavored Energy Biscuits, launched in 2001

Tiger Creams: Was introduced in 2002 at just Rs 5 per pack. Tiger Cream is now available in Orange, Elaichi, Chocolate, Pineapple, Strawberry and Butterscotch flavors, 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 colored 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.
iron zor helps make mind sharper and body stronger. An Rs.4 pack has as

much iron zor as that in 1 kg of Banana. R&D in Britannia has spent considerable time to develop this nutritious and delightful snack for children. Britannia Tiger Banana packed with iron zor and goodness of Banana is accessible to all, being available in convenient packs priced at Rs.2, Rs.4 and Rs.10. GOOD DAY

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 Coconut in 2004.

10

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. 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! BOURBON

11

Thick, rich and delicious chocolate packed between two crunchy chocolate biscuits, topped with sugar crystals - presenting, the original Bourbon, from the house of Britannia. India's first and favorite Bourbon's sweet adventure began in 1955. Since then, Bourbon lovers across the country have been caught opening this chocolate couplet, licking the cream, and nibbling at the melt-in-your-mouth biscuit, bit by bit. Some have been witnessed chomping it whole, at one go. Some have been noted to alternate it with sips of coffee; others team it with lots of gossip and gupshup, while a few have been observed enjoying it with a book. And some have been seen reluctantly sharing their Bourbon. Whatever the occasion, wherever the hangout, Bourbon makes for great company. You can grab your very own Nano Pack or a Pocket Pack. The Hangout Pack is just right for chilling with friends. Take along a Party Pack for... yes, a party! And the Gift Pack will surely win you a few brownie points!

50 -50

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
12

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.

MARIE GOLD

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.

MILK BIKIS

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
13

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. NUTRICHOICE

In continuation of the promise of "Swasth Khao, Tan Man Jagao," Britannia introduced NutriChoice range of healthy biscuits in 1998. The brand is targeted towards overall health and wellness for adults.

14

The range has for long comprised of three popular variants, namely NutriChoice Thin Arrowroot, NutriChoice Cream Cracker and NutriChoice Digestive. NutriChoice Thin Arrowroot - An ageless classic Extremely popular in East India for over 4 decades (where it is affectionately referred to as Britannia Theen), this brand contains the benefits of arrowroot known to aid digestion and remove harmful toxins from the body. Prior to 1998 it was being marketed as Britannia Jacob's Thin. NutriChoice Cream Cracker - As nature would have wanted it to be Ask any biscuit manufacturer and they will tell you how difficult it is to make this biscuit, especially with next to nothing sugar, with no added colors and flavorings for taste. It is this neutral taste that makes it an ideal choice to be consumed with hot beverages, dips, chutneys, and accompaniments. NutriChoice Digestive - Delightfully tasty and wholesome Made with 50% whole-wheat and packed with added fiber (10% of our daily dietary needs), these delightfully tasty biscuits are amongst your healthiest bites of the day. In your next visit to a shop just look out for its Golden-green international pack. In 2007, NutriChoice SugarOut was launched. NutriChoice SugarOut is the most novel product range to have been introduced in the market. The product is not just sweet but tastes great, and yet contains no added sugar. It is sweetened with "Sucralose," derived from sugar, which provides the same sweetness as any other biscuit, without the added calories of sugar. This range is available in 3 delicious variants namely Lifetime, Chocolate Cream, and Orange Cream, targeted towards all health sensitive people. It is also relevant for consumers with sugarrelated ailments. We are confident that you will be pleasantly surprised with the great tasting and healthy range of NutriChoice. Try one and you'll know that you've made one smart choice.
15

NutriChoice 5 Grain Most consumers believe that to in order to stay healthy one needs to make certain compromises on some good things in life. Whether it is missing that extra hour of sleep over early morning exercise, or eating unappetizing foods over that extra oil-dripping samosa. At the same time most of us agree that good nutrition cannot come from one kind of food alone, but from a healthy combination / assortment of several healthy ingredients put together. Britannia NutriChoice 5 Grain Biscuits are a perfect answer to those looking for healthy eating options without as much making a compromise on taste, or convenience, or health. Because Britannia NutriChoice 5 Grain biscuits are made from 5 carefully chosen healthy cereals (Oats that help reduce bad cholesterol, Corn which promotes heart health, Ragi a good source of both Calcium as well as Fiber, Rice low in fat, and Wheat that provides wholesome energy). These biscuits are delicately sweetened with natural honey, and come in a unique large oval shape. It is this large size and the healthy combination of the ingredients that make it an ideal hunger buster for those in-between meals time hunger. Britannia NutriChoice 5 Grain biscuit pack contains several small single serve pocket meals packs, so that one is never far away from pacifying hunger on the move. So whenever you miss your breakfast, or succumb to those unhealthy evening snacks, you can relish the goodness of health with Britannia NutriChoice 5 Grain biscuits. NutriChoice Classic Lite Cracker - NutriChoice Crackers have for long been the healthy choice of the discerning consumer. The popular NutriChoice Cream Cracker has been improved to make it crispier and tastier and been rechristened as Nutrichoice Classic Lite Cracker. NutriChoice Nature Spice Cracker - Now there is more choice for the discerning cracker consumer. NutriChoice Nature Spice Crackers are delicately sprinkled with the goodness of Ajwain and Jeera. Ajwain s benefit with good digestion is legendary, while each one of us relishes the taste of Jeera. In addition 0% Sugar is added to these biscuits which deliver the health promise that Nutrichoice is known for. NutriChoice Crackers are made by using a special FRESH BAKE TECHNOLOGY, which ensures that they are completely free from Cholesterol, harmful Transfats, artificial
16

preservatives, colors and flavors. They come in an international metalized packaging, which ensures that the biscuits retain maximum freshness till the time they are opened. TIME PASS Before Time pass, Britannia's offering in the salted cracker category was Snacks. Launched in 1999, Snacks was promoted as a tastier base for toppings through edgy advertising. Then in late 2000, supported by aggressive advertising that featured the brand as a perfect partner for time pass moments, Britannia Time pass was launched. The brand quickly became a leader in Britannia's portfolio and, consequently, Snacks was revamped as a lighter product and renamed Britannia Time pass Classic Salted. To further the franchise of the Time pass brand, a variant 'Nimkee' was introduced in the Eastern market in April 2003, and then taken nationwide after a favorable response. Judging by its history, the resounding success of Britannia Time pass will continue to grow.

LITTLE HEARTS

Little Hearts was launched in 1993 and targeted the growing youth segment. A completely unique product, it was the first time biscuits were retailed in pouch packs like potato wafers. The launch message introduced a special taste experience that made the unlikeliest characters - like Dracula and Frankenstein - melt. In 1997, the 'Direct Dil Se' campaign encouraged youngsters to openly express their feelings. And in 2003, two variants called Little Hearts Chocolate and Little

17

Hearts Sesame were rolled out with a campaign "Dil sabka actually sweet hai". With Little Hearts, Britannia has tasted the sweet taste of success.

NICE TIME

Britannia Nice Time was the pioneer of sugar sprinkled biscuits in India. This unique product managed to create such a strong consumer pull that soon there was a rush of pretender products in the market, clearly indicative of the success of the concept. Today, Nice Time has a fan base spread across India, and, particularly, East India, where its consumers have grown up with the brand. Especially popular amongst children, Britannia Nice Time has managed to create a loyal franchise for itself and is a strong brand loved by people of all ages.

DAIRY FRESH Till 1958, there were no breads in the organized sector and bread consumption was a habit typified by the British. Then, a mechanized bread unit was set up in Delhi with the name "Delbis" which produced sliced bread and packed it under the Britannia name. Thus, Britannia was not only the pioneer, but also inculcated in the people of Delhi the habit of eating white sliced bread. The Mumbai unit came up in 1963, and there again Britannia was the first branded bread in the city. From a company offering 2 packs - the 400gm and the 800gm plain white sliced bread Britannia has evolved into a company offering 22 packs, catering to a variety of taste and price

18

segments in the bread consuming market. The last couple of years also saw the introduction of Whole Wheat Bread as a part of "Eat Healthy, Think Better" credo. Cakes Britannia entered the cake market in the year 1963 and is the top player in the market. Britannia Cakes range is divinely scrumptious and has both Bar Cakes and Cup Cakes which were launched in 2005. Bar Cakes are available in variants that include Fruit, Butter Sponge, Chocolate, Pineapple, Milk, Vanilla Chocolate and Orange. Apart from being delicious, these snacks are packed with healthy ingredients making them wholesome & delightful. Britannia cup cakes come in vanilla and orange flavors. Rusks Britannia launched its rusks in the year 2005. In a Market full of unbranded players, Britannia rusks have stood head and shoulders above the rest in terms of sheer quality .They are made from the finest ingredients and baked with care as they are twice as crisper as and tastier than ordinary rusks. The communication for this mouthwatering offering is aptly Enliven your spirits with Britannia rusks GIFTS Britannia brings you 'Shubh Kaamnayein' converting little moments of the festive season into delightful memories The magical time of year, is round the corner. Bring in this festive season rejoicing, and adding the glitter and glamour of celebration, with Britannia 'Shubh Kaamnayein' a range of biscuits, premium cookies and cakes. The special edition for 2008 'Britannia Premium Assorted Cookies' is all about surprises, the enchanting discovery of new tastes and innovative packaging. It offers you absolutely delightful cookies made with rich ingredients and flavors such as Cranberry, Butter Scotch, Honey Raisin, Choc Chips, Coffee Almond, Cashew, Honey and Almond. The much loved 'Britannia Classic Hampers' contain an assortment of Britannia's popular brands like Good Day, Treat Jim Jam, Bourbon and Little Hearts.

19

The innovatively conceptualized packaging, of ingenious tray packs and collectible tin boxes, uses calligraphy, brush strokes of colors and clever use of symbols, beautifully fusing tradition and art for the festive season. It brings alive a commonality of joy and celebration. This range promises to pamper your senses and emotions. We understand that the wondrous occasion of light and radiance is incomplete without the presence of near and dear ones. Britannia 'Shubh Kaamnayein' joins you as you express your love and good wishes, to the ones who make life special for you. Britannia 'Shubh Kaamnayein' is designed to add joy to moments, transforming them into delightful memories. We have judiciously packaged and priced this entire range to make it available to everyone who wants to share good wishes. As part of our 90th year festivity we present Britannia Shubh Kaamnayein, to add 'Zindagi mein life'. Rusk Milk Rusk (round) 70/- (available in 200gms, 400gms) Milk Rusk (oval) 70/- (available in 200gms, 400gms) Saunf Rusk70/- (available in 200gms, 400gms) Jeera Rusk70/- (available in 200gms, 400gms) Cardamom Rusk75/- (available in 200gms, 400gms) Cookies Flower Biscuits 70/- (available in 250gms, 400gms) Coconut Biscuits 75/-(available in 250gms, 400gms) Jam Centre 75/-(available in 250gms, 400gms) Custard 75/-(available in 250gms, 400gms) Chocolate Marble 75/-(available in 250gms, 400gms) Orange 75/-(available in 250gms, 400gms)
20

Coconut Macroon 95/-(available in 200gms, 350gms) Chocolate Walnut 120/-(available in 250gms, 400gms) Pure Chocolate Cashew 120/-(available in 250gms, 400gms) Butter Pista 130/-(available in 250gms, 400gms) Almond Cookies 130/-(available in 250gms, 400gms)

21

Financial Growth OF The Company

For the year ended 31st March 2008, 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 2006-07. 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 2007-08. 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 Companys 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.

22

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 1999 to Rs 26,176 Mn in 2008, 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 2007-08, 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.

In an environment that is becoming increasingly competitive and in a business whose profit and profitability are greatly impacted by commodity inflation, profit from operations increased from Rs. 1,248 MM to Rs. 1,794 MM. Your Company added Rs. 8,194 MM to the gross sales, which grew 23.9%. Earning per Share was Rs.12.16. The tables below

23

DIRECTOR REPORT
The Directors present their Annual Report together with the Statement of Accounts for the year ended 31 March 2012.

1. FINANCIAL RESULTS Rs. in crores

Particulars

Year ended 31 March 12

Year ended 31 March 11

Sale of Products

5,005.66

4,230.59

Other Operating Revenues

27.15

25.20

Other Income

58.53

48.92

Profit from Operations

231.91

186.89

(PBT before other income and finance costs)

Profit Before Tax

252.37

198.06

Less: Tax

65.63

52.77

Net Profit

186.74

145.29

Add: Profit brought forward

185.29

144.77

Profit available for

24

Appropriation

372.03

290.06

Less: Proposed Dividend

101.53

77.64

Less: Tax on Proposed

Dividend

16.47

12.60

Less: Transfer to General

Reserve

18.68

14.53

Balance carried forward to

Balance Sheet

235.35

185.29

Net Cash Flow from

Operating Activities

210.66

246.32

25

Net Profit for the year ended 31 March 2012

Net Profit for the year ended 31 March 2012 was Rs. 199.55 crores compared with Rs. 134.35 crores in the previous year, a growth of 48.5%.
Rs. In crores Particulars Year ended Year ended

31 March 12 31 March 11

Sale of Products Other Operating

5,519.96

4,623.25

Revenues Other Income

24.62 59.14

19.65 59.01

Profit from Operations (PBT before other income and finance costs)

249.04

171.77

Profit Before Tax

266.58

187.15

Net Profit

199.55

134.35

26

SWOT Analysis of BRITANNIA

Strength Fulfill one of our Basic Requirement among Air , Water , Food, Shelter Widely accepted in all Generations Easily available in various forms Provide good Instant Remedy for hunger in the form of readymade food Preserves the non seasonal food and makes it available all throughout the year

Weakness Decreases nutritional value Increases the cost of food product Industry and technology requires high investment Regular usage of processed food can cause alteration in health

Opportunities Increase economy of India Generate employment opportunity Good quality of Goods Provide companies Improve living standard Provide goods to nation at cheaper rate Inflow of foreign reserve and funds for the govt.(taxes) competition to foreign

Threats Many companies are result oriented Increase in pollution Sometimes provide poor quality of product for more profit Lack of technology Unable to utilize all the resources efficiently

27

CONCLUSION

After going thick on the thing, now time is to make a complete picture. While making a product a SKU (Stock Keeping Unit) of the shop retailers think about the GMROI (Gross Margin Return on Investment) and they promote the brands which provide them highest. They expect return in the form of profit margin, company schemes, window display and references of the shop. Among these, company schemes make the differences and are the highest source of motivation after profit margin. Retailing demands a constant push from the company. Marketer needs to use advertising and brand building strategies to address the discerning buyers and retail push to in different buyers. The manufacturer should understand consumer behavior because retailers can't help quality and price. It is only up to dealers said it is demand they sell Britannia 42% agree that at retail shop it is brand popularity, which determine the purchase of biscuit. There is a greater need to understand the retailer behavior considering them as a team working for the company may help them to be attached to the company. There should be feeling of belonging to the company in inner of the retailers. Setting values club for retailers so that they may exchange views with the company and help in understanding consumer behavior.

28