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Britannia Industries Limited (500825) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Britannia Industries Limited ₹2,866, price ₹4,795, upside -40.2%, quality 73 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Thin data
Sep 23, 2026
Britannia Industries Limited
500825 · BSEStretched ValuationQuality growthStrong overvaluation with only moderate quality.
!Fair value ₹2,866 · Strongly overvalued (−40.2%)
✓Quality 73/100
✓Healthy Growth (revenue 5y +9.1 %/yr)
✓Solidly profitable · 14.2% net margin (TTM)
✓Low debt
!2.5% dividend yield · Pays more than it earns
✓Wide moat 79/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range ₹2,867 – ₹6,259 · fair‑value band ₹1,976 – ₹4,346 · the ₹4,795 price screens above the ₹2,866 fair value. Dashed = 300-day average. As of Sep 23, 2026.
Company profile
Britannia Industries Limited manufactures and sells various food products primarily in India. The company offers bakery products, such as biscuit, bread, cake, and rusk; dairy products, including milk based beverages, cheese, dahi, and dairy whiteners; and cream wafers, center filled croissants, and salted snacks.
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Britannia Industries Limited manufactures and sells various food products primarily in India. The company offers bakery products, such as biscuit, bread, cake, and rusk; dairy products, including milk based beverages, cheese, dahi, and dairy whiteners; and cream wafers, center filled croissants, and salted snacks. It primarily offers its biscuits under the Good Day, Crackers, NutriChoice, Marie Gold, Tiger, Milk Bikis, Jim Jam + Treat, Bourbon, Little Hearts, Pure Magic, and Nice Time names; and cakes under the Gobbles, Tiffin Fun, Nut & Raisin, Muffills, Layerz, Rollyo, and fudgeit names, as well as center filled croissants under the Treat brand. The company also exports its products to approximately 79 countries worldwide. Britannia Industries Limited was founded in 1892 and is based in Bengaluru, India.
Stock analysis
Britannia Industries Limited (500825) currently trades at ₹4,795, while our model-based Fair Value estimate is ₹2,866, 40.2% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹1,552 per share, and 0 of the 26 models we run sit above the ₹4,795 price.
Bear case: the Economic Profit group reads lowest at ₹599.09, and 26 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹1,976 (bear) to ₹4,346 (bull), the price of ₹4,795 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 73/100 (solid quality), in the Consumer Defensive sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Britannia Industries Limited reported revenue of ₹179B in FY2025 versus ₹131B in FY2021, a compound +8.1%/yr. Reported net income was ₹21.8B in FY2025, compounding +4.0%/yr from FY2021.
Key figures
Market cap ₹1.2T (≈ $12.0B) · P/E ratio 63.8 · P/S ratio 7.74 · EPS (TTM) ₹74.45 · Dividend yield 2.5% · Net margin 12.1% · Return on equity 56.0% · Return on assets (EBIT) 30.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 58 out of 100 (medium confidence).
What moves the price
The share trades about 21% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 9% fair-value upside, at −40%, 500825 screens richer than that median.
Fair Value models
Bear ₹1,976
Fair Value ₹2,866
Bull ₹4,346
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.
Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF
₹957.74
₹1,544
₹2,440
78
Growth DCF
₹964.05
₹1,531
₹2,383
77
Owner Earnings
₹963.06
₹1,552
₹2,453
75
All 26 models by family
DCF Models
FCF DCF
₹957.74
₹1,544
₹2,440
78
Owner Earnings
₹963.06
₹1,552
₹2,453
75
5Y Revenue Exit
₹809.26
₹1,310
₹1,957
71
5Y EBITDA Exit
₹1,066
₹1,806
₹2,688
74
5Y P/E Exit
₹1,150
₹1,968
₹2,851
70
10Y Revenue Exit
₹830.31
₹1,302
₹1,952
66
10Y EBITDA Exit
₹1,016
₹1,644
₹2,514
67
10Y P/E Exit
₹1,069
₹1,756
₹2,639
63
Earnings-Based
Graham-Dodd
₹615.08
₹2,211
₹2,980
64
Lynch FV
₹522.37
₹746.24
₹970.11
61
PEG = 1.0
₹522.37
₹746.24
₹970.11
57
EPV
₹881.09
₹1,024
₹1,147
74
Dividend Discount
Gordon GGM
₹644.49
₹1,284
₹1,945
67
DDM Multi-Stage
₹644.49
₹1,110
₹1,356
67
Multiples
P/E Multiple
₹1,425
₹1,900
₹2,374
63
P/S Multiple
₹893.90
₹1,192
₹1,490
58
P/B Multiple
₹745.94
₹994.59
₹1,243
55
EV/EBIT
₹1,484
₹1,987
₹2,489
66
EV/EBITDA
₹1,256
₹1,683
₹2,109
67
EV/Revenue
₹758.08
₹1,093
₹1,429
53
Asset-Based
NCAV (Graham)
₹90.42
₹121.16
₹180.83
54
Growth DCF
Growth DCF
₹964.05
₹1,531
₹2,383
77
Rev-Margin DCF
₹809.26
₹1,311
₹1,911
72
Economic Profit
Residual Income
₹483.57
₹599.09
₹1,097
73
ROIC Compounder
₹938.31
₹1,160
₹1,401
72
Growth Earnings
Growth-Adj P/E
₹995.73
₹1,422
₹1,849
67
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Set up alert →Quality Score breakdown
Overall quality
73/100
Of which business quality 71 · Market factors (momentum, volatility) 42
Profitability
91
Margins and returns on capital today
Quality Growth
56
Are margins and returns improving?
Cashflow
60
Earnings quality: real cash, not paper profit
Fin. Strength
72
Balance sheet, leverage, solvency risk
Investment
58
Disciplined investing over empire-building
Low Volatility
95
Calm price path (market factor)
Momentum
28
Price trend over the last 3–12 months (market factor)
52W Momentum
6
Distance to the 52-week high (market factor)
Net Issuance
82
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
89/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+7.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.1%
Start year 2020 (pandemic). Over 10 years: +8.7% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.2%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+11.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.2%
Dividend (yield on the price)2.5%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.14% → 16%
500825 screens overvalued: fair value 40% below the price. Compare with Nestlé S.A →
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Packaged Foods · 634 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation Multiplesvs Packaged Foods median · lower = cheaper
Context: sector, industry, market
- Is the Consumer Staples sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more Packaged Foods stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nestlé S.A NESN | CHF 74.63 | CHF 59.51 | −20% |
| Danone S.A BN | €59.12 | €50.65 | −14% |
| Foshan Haitian Flavouring and Food Company 603288 | ¥33.93 | ¥37.32 | +10% |
| The Kraft Heinz Company KHC | $23.45 | $29.20 | +25% |
| Nestlé India Limited NESTLEIND | ₹1,363 | ₹724.74 | −47% |
| Inner Mongolia Yili Industrial Group 600887 | ¥26.90 | ¥41.84 | +56% |
| Yihai Kerry Arawana Holdings 300999 | ¥24.55 | ¥9.98 | −59% |
| General Mills, Inc GIS | $31.67 | $34.59 | +9% |
| Wilmar International Limited F34 | 3.68 SGD | 5.14 SGD | +40% |
| Kerry Group KRZ | €85.55 | €59.96 | −30% |
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Frequently asked questions
Is Britannia Industries Limited (500825) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of ₹2,866 versus a price of ₹4,795, about −40% upside (overvalued).
What is the fair value of 500825?
Our model-based fair value for Britannia Industries Limited is ₹2,866 (as of Sep 23, 2026), built from audited fundamentals. The current price: ₹4,795.
What is the quality score of 500825?
Britannia Industries Limited has a Quality Score of 73/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Britannia Industries Limited (500825)?
Our model-based price target is the fair value of ₹2,866 (as of Sep 23, 2026) from 26 valuation models. Cautious scenario ₹1,976, optimistic scenario ₹4,346. It is a calculation from audited fundamentals, not an analyst target.
What is the Britannia Industries Limited stock forecast for 2026?
Our models put fair value at ₹2,866, about −40% upside versus a price of ₹4,795 (overvalued). Cautious scenario ₹1,976, optimistic scenario ₹4,346. The calculation is refreshed regularly with new filings.
What is the revenue of Britannia Industries Limited (500825)?
Britannia Industries Limited reported trailing-twelve-month revenue of about ₹127B (latest available figure, as of Sep 23, 2026).
Does Britannia Industries Limited pay a dividend?
Britannia Industries Limited currently shows a dividend yield of about 2.46% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Britannia Industries Limited (500825)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Britannia Industries Limited it is ₹2,866 per share (as of Sep 23, 2026), against a price of ₹4,795. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Britannia Industries Limited stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 500825 trades above its calculated fair value: price ₹4,795, fair value ₹2,866, a gap of about −40% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 500825?
No. The price is what the market pays today (₹4,795); the fair value is what the company's own numbers justify (₹2,866). For Britannia Industries Limited the two are ₹1,929 per share apart. That gap is exactly why we show both numbers side by side.
How much is Britannia Industries Limited worth?
The market values Britannia Industries Limited at about ₹1.2T (market capitalisation, as of Sep 23, 2026). Per share that is ₹4,795; our models calculate a fair value of ₹2,866 per share.
What do the bullish and bearish scenarios say about 500825?
Our models span a range for Britannia Industries Limited: cautious scenario ₹1,976, base ₹2,866, optimistic ₹4,346 per share (as of Sep 23, 2026, price ₹4,795). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 500825?
Britannia Industries Limited trades at a price-to-earnings ratio of 63.8 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹2,866 is built from several models across several years. Other multiples: P/B 19.6, P/S 6.8, EV/EBITDA 36.8.
How solid is the balance sheet of Britannia Industries Limited (500825)?
Balance-sheet figures for Britannia Industries Limited (as of Sep 23, 2026): return on equity 56.0%, debt of 0.16 per unit of equity. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is 500825 from its 52-week high?
Britannia Industries Limited trades at ₹4,795, about 21% below its 52-week high of ₹6,083 and at the low of ₹4,795 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹2,866 is for.
Which stocks are comparable to Britannia Industries Limited?
From the same area (Consumer Defensive) we also value Nestlé S.A, Danone S.A, Foshan Haitian Flavouring and Food Company, The Kraft Heinz Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Britannia Industries Limited stock attractive at the current price?
The data as of Sep 23, 2026: price ₹4,795, calculated fair value ₹2,866 (−40%), Quality Score 73/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 500825 calculated?
We run Britannia Industries Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹2,866, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Britannia Industries Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Britannia Industries Limited (500825)?
The closing price on Oct 1, 2026 was ₹4,795. Our model-based fair value is ₹2,866, about −40% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Britannia Industries Limited right now?
A high-quality business (quality 73/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (₹4,346). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (₹1,976 to ₹4,346) leaves room in how you read the outcome.
Key figures of Britannia Industries Limited
How large is the market capitalisation of Britannia Industries Limited (500825)?
The market capitalisation of Britannia Industries Limited is ₹1.2T (≈ $12.0B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Britannia Industries Limited (500825)?
The price-to-sales ratio of Britannia Industries Limited is 7.74 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Britannia Industries Limited (500825)?
Earnings per share at Britannia Industries Limited are ₹74.45 (price ÷ EPS = P/E 63.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Britannia Industries Limited (500825)?
The dividend yield of Britannia Industries Limited is 2.5% (payout 158%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Britannia Industries Limited (500825)?
The net margin of Britannia Industries Limited is 12.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Britannia Industries Limited (500825)?
The return on equity (ROE) of Britannia Industries Limited is 56.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Britannia Industries Limited (500825)?
On an EBIT basis the return on assets of Britannia Industries Limited is 30.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Britannia Industries Limited (500825)?
The operating margin of Britannia Industries Limited is 17.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Britannia Industries Limited (500825)?
Revenue at Britannia Industries Limited is growing +12.1% versus a year earlier (3y avg +8.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Britannia Industries Limited (500825)?
Earnings per share at Britannia Industries Limited are growing +22.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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