Buy Britannia Industries; target of Rs 4050: Emkay Global Financial
 Emkay Global Financial’s report on Britannia Industries
Britannia reported in-line sales growth of 6% (2-year CAGR of 9%), with volumes growing by ~2%. Margins were weak, resulting in EBITDA/PAT being 11-15% below expectations. EBITDA declined 17% to Rs5.6bn… 
 
						 
					 
				 
				



