Britannia's consolidated sales grew by 22% to Rs4,605.16 crore in 2010-11 and its net profit was Rs134.20 crore
Biscuits major Britannia Industries is aiming for higher profitability during the current fiscal as the market remains robust and cost pressures are likely to ease.
"We intend to improve the net operating income, or margin, by another 2%-4% during the current fiscal," Britannia director (Health & Wellness) Anuradha Narasimhan told PTI. In 2010-11, the company's gross and net margins stood at around 21% and 4.3%, respectively, she said.
She attributed the positive outlook to the easing price war in the industry, lower inflationary pressure, healthy demand, focus on value-added and niche products and better cost control. The niche category includes health and wellness products. The adult health food segment is pegged at Rs6,000 crore, including healthy cooking oil.
The company said the baked and non-fried snack market, in which Britannia launched two products under the Nutrichoice brand, is worth about Rs 450 crore at present, but is expected to grow sharply in the next two-three years to Rs 1,000-1,500 crore.
Furthermore, Britannia is ready with more breakfast products for expanding its national footprint.
"We have test-marketed oatmeal in Mumbai and recently in Tamil Nadu. We are also test-marketing Poha Upma in these two markets. In the next three months, we expect to take these products to other parts of the country, possibly in phases," Narasimhan said. The Rs200 crore oats category has witnessed annual growth of around 25%-30%. In the first nine months of this fiscal, Britannia hiked product prices by 6% to accommodate cost pressures, she said.
However, she does not foresee any sharp hike in the next quarter as food inflation is declining. Britannia's consolidated sales grew by 22% to Rs4,605.16 crore in 2010-11 and its net profit was Rs134.20 crore.
In the late afternoon, Britannia was trading at around Rs443 per share on the Bombay Stock Exchange, 2.34% down from the previous close.
Supreme Infra has also bagged orders worth Rs212.30 crore
Supreme Infrastructure India Ltd has completed EPC for its first marine project— Kasheli Bridge and commenced tolling operations. The company has added orders worth Rs212.30 crore along with a bridge project for Rs124 crore. The company has also added a road BOT project in Maharashtra. The details of the Kasheli Bridge include:
The EPC work involved building a 6 lane flyover on Old Thane Nashik highway for a length of 1.2 km on the Thane Creek for Rs301 crore. This project was awarded to SIIL in 2009 by the Sangam group and has been completed in 36 months. The project involved complex engineering skills to cast pilling with depths ranging from 15–25 meters. SIIL holds 10% equity stake in the Kasheli Bridge SPV viz. Kalyan Sangam Infratech Ltd. This SPV was involved in the construction of the Kasheli Bridge on a BOT basis. The construction of Kasheli Bridge has been completed and tolling operations have commenced.
The company has also received a project for construction of villas and apartments from BPTP Group, Gurgaon worth Rs71 crore. The project is expected to be executed by March 2014. The company has also bagged orders from Ramprastha, Gurgaon and from MMRDA for construction of Flyovers, Maharashtra.
In the late afternoon, SIIL was trading at around Rs166 per share on the Bombay Stock Exchange, 3.14% up from the previous close.
The TCS Nagpur campus will be build in two phases, the first of which will contain 8,200 seats for IT services and BPO services
The country's largest software exporter Tata Consultancy Services said it will build a new software development unit in Maharashtra at an initial investment of Rs600 crore, creating jobs for over 8,200 professionals.
The campus will be located at Nagpur, Maharashtra, in the Mihan Special Economic Zone (SEZ), Tata Consultancy Services (TCS) said in a filing to the BSE.
“Nagpur has the potential to become the next big hub for knowledge-based industries like IT and engineering with its strong eco-system of universities, talented people and infrastructure,” TCS CEO and MD N Chandrasekaran said.
The TCS Nagpur campus will be build in two phases, the first of which will contain 8,200 seats for IT services and BPO services. The second phase will be of similar scope, it said. Once the project is completed, the campus will accommodate 16,000 associates, the filing added.
In the late afternoon, TCS was trading at around Rs1,145 per share on the Bombay Stock Exchange, 0.13% up from the previous close.