Britannia Industries Ltd, a leading biscuit maker, is expected to appoint a new CEO within the next three to four months, following the exit of Rajneet Kohli. Varun Berry, the company’s executive vice-chairman and managing director, has taken on the additional role of CEO, effective May 8, 2025, in compliance with regulatory requirements. Berry stated that succession planning is underway and that the company will have a new CEO in place soon.
Kohli, the company’s former CEO, resigned from Britannia on March 6 and joined Hindustan Unilever Ltd (HUL) as executive director, foods, on April 7, 2025. During his tenure, Kohli reported to Berry, who was then the managing director and is now the executive vice-chairman and managing director.
The company recently announced its full-year and March-quarter earnings, with consolidated sales growing 9% to ₹4,376 crore and net profit rising 4% year-on-year to ₹559 crore. For the year ended March, consolidated sales grew 6% to ₹17,535 crore, while net profit increased 2% to ₹2,178 crore.
Despite implementing price hikes in the past two quarters, the company is unlikely to raise product prices in the coming months, citing a total price increase of approximately ₹100 crore in the third quarter of FY2024-25 due to a surge in the cost of key ingredients like palm oil and cocoa. Berry stated that the company is closely monitoring commodity price movement and will focus on sustaining margins while maintaining competitiveness.
The company is targeting double-digit growth in FY26, with Berry commenting that “our endeavor will be to get back to double digits…with India being a developing country…it’s important that in categories like ours, we see double-digit growth.” The management remains “reasonably optimistic” about future demand, with chairman Nusli Wadia stating that “I don’t think it’s going to be a hockey stick but I do think that we have seen gradual recovery and I do think that this trend is going to continue into the next year as well.”
Overall, Britannia Industries is poised for growth and is taking steps to ensure its continued success, including appointing a new CEO and closely monitoring commodity price movement. With a strong focus on sustaining margins and maintaining competitiveness, the company is well-positioned to achieve its target of double-digit growth in FY26.