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Company profile:

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, Britanniamechanised 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 newstandards, 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.

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VINITA BALI

Vinita Bali was appointed Managing Director on 31st May 2006. Vinita joined as Chief Executive Officer of the Company in

January 2005. She received her Bachelor's Degree in Economics from LSR at the University of Delhi and her MBA at the

Jamnalal Bajaj Institute of Management Studies at Bombay University. She pursued postgraduate studies in Business and

Economics at Michigan State University on a scholarship from The Rotary Foundation, and was selected to work as a

Graduate Intern at the United Nations headquarters in New York.

She started her career with Voltas Ltd.-a Tata Group company focusing on consumer products, where she launched Rasna

soft-drink concentrate. In 1980, Vinita joined Cadbury India, where she had a successful career in roles of increasing

responsibility, not just in India, but also in the UK, Nigeria and South Africa. Vinita also served on the Boards of Cadbury

Nigeria and Cadbury South Africa.

The Coca-Cola Company chose her as its worldwide Marketing Director in 1994 where she was responsible for the

worldwide strategy for Coke, and was one of the key players in doubling its historical growth rate. In 1997 she took over as

Vice President of Marketing for Latin America, and in 1999 relocated to Chile as President of the Andean Division with sales

in excess of USD 1 Billion. In 2001, she was made a corporate officer of The Coca-Cola Company and appointed VicePresident of Corporate Strategy reporting to the Chairman.

After an eventful nine-year association with Coke, Vinita joined her mentor at Coke, Sergio Zyman at the Zyman Group in

July 2003 as a Managing Principal and Head of the Business Strategy practice in the company's Atlanta office. As a member

of the company's Board of Managers, Vinita shared responsibility for developing and managing Zyman Group's consulting

business.

Top of Form

nd

elect

Bottom of Form

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Day was launched in 1986 in two delectable avatars - Good Day Cashew and

e years, new variants were introduced - Good Day Pista Badam in 1989, Good

s in 2000 and Good Day Choconut in 2004.

e enjoys a fan following of consumers across all ages, loyal to the brand promise

e, evident from the visibly abundant ingredients. Good Day is among the fastest

s in Britannia's portfolio and it has been the leader in the cookies category ever

h. The brand is synonymous with everyday treats that infuse happiness into

des of magnificent success; it was time to give the nation yet another reason to

ay. Abundance, goodness, indulgence and now unrestrained joy - that is the

s new campaign.

is the uncontrollable expression of the ticket collector's happiness and joy that is

onsumption of the cookie, that spreads cheer amongst the people around him

mosphere of shared joy that's unorchestrated and straight from the heart. The

s taken to the IPL as Good day cheered along with a million cricket fans in the

screaming and proclaiming "Ho gaya re Good Day". The dazzling brilliance of this

contagious rhythm needs to be lived and spread through the nation, making

aya Re Good Day' a part of the common lingo and a way of life.

believes laughter and happiness are infectious, it transcends race, caste creed

ity in an inclusive emotion.

severes to infuse cheer, hearten the nation and enliven lives. With its rightful

ont page of The Times of India, Good Day gifts the nation a priceless treasure,

ng JOY!

sumer Promo >>

http://www.britannia.co.in/brandstories_goodday.htmhttp://www.britannia.co.in/brandstories_goodday.htm

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Chennai

M T H Road, Padi,

Chennai - 600 050

Tamil Nadu

Ph: 044 - 3021 6000 / 3021 6001 / 3021 6002

Fax: 044 - 2625 8568 / 2625 4872

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Britannia Industries Limited

Type

Public

(BSE: 500825)

(NSE: BRITANNIA)

Industry Food

Founded 1892

HeadquartersKolkata and Bangalore; R&D

Chennai, India

Number of

locations300 stores (2000)

Area served India

Key peopleNusli Wadia, Chairman

Ms. Vinita Bali, (Managing Director)

ProductsBiscuitsTiger, Britannia,

milk

Revenue Rs 2,200 crore

Owner(s)Danone, Kalabakan

Investments

Parent Wadia Group,

http://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/Public_companyhttp://en.wikipedia.org/wiki/Bombay_Stock_Exchangehttp://www.bseindia.com/stockreach/stockreach.htm?scripcd=500825http://en.wikipedia.org/wiki/National_Stock_Exchange_of_Indiahttp://www.nseindia.com/marketinfo/companyinfo/companysearch.jsp?cons=BRITANNIA&section=7http://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Foodhttp://en.wikipedia.org/wiki/Kolkatahttp://en.wikipedia.org/wiki/Bangalorehttp://en.wikipedia.org/wiki/R&Dhttp://en.wikipedia.org/wiki/Chennaihttp://en.wikipedia.org/wiki/Nusli_Wadiahttp://en.wikipedia.org/wiki/Managing_Directorhttp://en.wikipedia.org/wiki/Managing_Directorhttp://en.wikipedia.org/wiki/Product_(business)http://en.wikipedia.org/wiki/Biscuithttp://en.wikipedia.org/wiki/Milkhttp://en.wikipedia.org/wiki/Revenuehttp://en.wikipedia.org/wiki/Indian_rupeehttp://en.wikipedia.org/wiki/Crorehttp://en.wikipedia.org/wiki/Ownershiphttp://en.wikipedia.org/wiki/Groupe_Danonehttp://en.wikipedia.org/wiki/Holding_companyhttp://en.wikipedia.org/wiki/Wadia_Grouphttp://en.wikipedia.org/wiki/File:Britannia_India_logo.jpghttp://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/Public_companyhttp://en.wikipedia.org/wiki/Bombay_Stock_Exchangehttp://www.bseindia.com/stockreach/stockreach.htm?scripcd=500825http://en.wikipedia.org/wiki/National_Stock_Exchange_of_Indiahttp://www.nseindia.com/marketinfo/companyinfo/companysearch.jsp?cons=BRITANNIA&section=7http://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Foodhttp://en.wikipedia.org/wiki/Kolkatahttp://en.wikipedia.org/wiki/Bangalorehttp://en.wikipedia.org/wiki/R&Dhttp://en.wikipedia.org/wiki/Chennaihttp://en.wikipedia.org/wiki/Nusli_Wadiahttp://en.wikipedia.org/wiki/Managing_Directorhttp://en.wikipedia.org/wiki/Product_(business)http://en.wikipedia.org/wiki/Biscuithttp://en.wikipedia.org/wiki/Milkhttp://en.wikipedia.org/wiki/Revenuehttp://en.wikipedia.org/wiki/Indian_rupeehttp://en.wikipedia.org/wiki/Crorehttp://en.wikipedia.org/wiki/Ownershiphttp://en.wikipedia.org/wiki/Groupe_Danonehttp://en.wikipedia.org/wiki/Holding_companyhttp://en.wikipedia.org/wiki/Wadia_Group

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Associated Biscuits Intl.

Holdings

Website www.britannia.co.in

Britannia IndustriesFrom Wikipedia, the free encyclopedia

Jump to: navigation, search

Britannia Industries Limited

Type

Public

(BSE: 500825)

(NSE: BRITANNIA)

Industry Food

Founded 1892

HeadquartersKolkata and Bangalore; R&D

Chennai, India

Number oflocations

300 stores (2000)

Area served India

Key people Nusli Wadia, Chairman

http://en.wikipedia.org/wiki/Websitehttp://www.britannia.co.in/http://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/Public_companyhttp://en.wikipedia.org/wiki/Bombay_Stock_Exchangehttp://www.bseindia.com/stockreach/stockreach.htm?scripcd=500825http://en.wikipedia.org/wiki/National_Stock_Exchange_of_Indiahttp://www.nseindia.com/marketinfo/companyinfo/companysearch.jsp?cons=BRITANNIA&section=7http://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Foodhttp://en.wikipedia.org/wiki/Kolkatahttp://en.wikipedia.org/wiki/Bangalorehttp://en.wikipedia.org/wiki/R&Dhttp://en.wikipedia.org/wiki/Chennaihttp://en.wikipedia.org/wiki/Nusli_Wadiahttp://en.wikipedia.org/wiki/File:Britannia_India_logo.jpghttp://en.wikipedia.org/wiki/Websitehttp://www.britannia.co.in/http://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/Public_companyhttp://en.wikipedia.org/wiki/Bombay_Stock_Exchangehttp://www.bseindia.com/stockreach/stockreach.htm?scripcd=500825http://en.wikipedia.org/wiki/National_Stock_Exchange_of_Indiahttp://www.nseindia.com/marketinfo/companyinfo/companysearch.jsp?cons=BRITANNIA&section=7http://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Foodhttp://en.wikipedia.org/wiki/Kolkatahttp://en.wikipedia.org/wiki/Bangalorehttp://en.wikipedia.org/wiki/R&Dhttp://en.wikipedia.org/wiki/Chennaihttp://en.wikipedia.org/wiki/Nusli_Wadia

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Ms. Vinita Bali, (Managing Director)

ProductsBiscuitsTiger, Britannia,

milk

Revenue Rs 2,200 crore

Owner(s)Danone, Kalabakan

Investments

Parent

Wadia Group,

Associated Biscuits Intl.

Holdings

Website www.britannia.co.in

Britannia Industries Limited is an Indian company based inKolkata that is famous for itsBritannia and Tigerbrands of biscuit, which are highly recognised throughout the country.Britannia is one of Indias leading biscuit firms, with an estimated 38% market share.[1]

The Company's principal activity is the manufacture and sale of biscuits, bread, rusk, cakes anddairy products.

The Britannia's fame is largely acknowledged through the colourful Britannia logos that Indian

cricketers such as Virender Sehwagand Rahul Dravid wear on theirbats.

Contents[hide]

1 History

2 Growth and profitability

3 Business

3.1 Dairy products

3.1.1 Joint venture with New Zealand Dairy

3.2 Biscuits

4 Ownership and relationship between major shareholders

5 See also

6 References

7 External links

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[edit] HistoryIt was started way back in 1892 with an investment of Rs. 295.[2] Initially, biscuits weremanufactured in a small house in central Kolkata. Later, the business was acquired by the Guptabrothers and operated under the name of V.S. Brothers. In 1918, C H Holmes, an Englishbusinessman in Kolkata was taken as a partner and The Britannia Biscuit Company Limited(BBCo) was launched. The Mumbai factory was setup in 1924 and Peek Freans, UK acquired acontrolling interest in BBCo. Biscuits were in big demand during World War II, which gave afillip to the companys sales. The company name was changed to the current Britannia IndustriesLimited in 1979. In 1982 Nabisco Brands Inc., USA became a major foreign shareholder

Kerala businessman K. Rajan Pillaisecured control of the group in the late 1980s, becomingknown in India as the 'Biscuit King'. In 1993, the Wadia Groupacquired a stake in ABIL, UKand became an equal partner withGroupe Danone in Britannia Industries Limited. In whatTheEconomic Times referred to as one of [India's] most dramatic corporate sagas,[3] Pillai cededcontrol to Wadia and Danone after a bitter boardroom struggle,[4] then fled his Singapore base toIndia in 1995 after accusations of defrauding Britannia, and died the same year in Tihar Jail.[5]

[edit] Growth and profitabilityThe company is a growing and profitable one. Between 1998 and 2001, the company's salesgrew at a compound annual rate of 16 per cent against the market, and operating profits reached18 per cent. More recently, the company has been growing at 27 per cent a year, compared to theindustry's growth rate of 20 per cent. At present, 90 per cent of Britannias annual revenue ofRs2,200 crorecomes from biscuits.

[edit] Business

[edit] Dairy products

Dairy products contribute close to 10 per cent to Britannia's revenue.[6] Britannia trades and

markets dairy products, and its dairy portfolio grew at 47% in 2000-01 and by 30% in 2001-02.Britannia holds an equity stake in Dynamix Dairy and had outsourced the bulk of its dairyproducts from its associate. Its main competitors are Nestle India, and the National DairyDevelopment Board (NDDB),and amul(GCMMF)[7]

[edit] Joint venture with New Zealand Dairy

On 27 October 2001, Britannia announced a joint venture withFonterra Co-operative Group ofNew Zealand, an integrated dairy company from procurement of milk to making value-addedproducts such as cheese and buttermilk.[7] Britannia planned to source most of the products fromNew Zealand, which they would market in India.[6] The joint venture will allow technologytransfer to Britannia.[7] Britannia and New Zealand Dairy each holding 49% of the JV, and theremaining 2 per cent held by a strategic investor. Britannia has also tentatively announced that its

dairy business would be transferred and run by the joint venture.[7]

The authorities' approval to the joint venture obliged the company to start manufacturingfacilities of its own. It would not be allowed to trade, except at the wholesale level, thus pitchingit in competition with Danone, which had recently established its own dairy business. [7]

[edit] Biscuits

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The company's factories have an annual capacity of 433,000 tonnes.[1]The brand names ofbiscuits include VitaMarieGold, Tiger,Nutrichoice Junior,Good Day, 50 50, Treat,Pure Magic,Milk Bikis, Good Morning,Bourbon, Thin Arrowroot,Nice and many more.

Tiger, the mass market brand, realised $150.75 million in sales including exports to countriesincluding the U.S. and Australia, or 20% of Britannia revenues in 2006.

The company alleged that Danone has violated its intellectual property rights in the Tiger brandby registering and using Tigerin several countries in 2006 without the consent of the BritanniaBoard. Managing Director Vinita Bali claims the company found out in 2004 Danone launchedthe Tiger brand in Indonesia in 1998, and later in Malaysia, Singapore, Pakistan and Egypt whenit attempted to register the Tiger trademark in some of these countries.[8] Whilst it was initiallyreported in December 2006 that agreement had been reached,[9] it was reported in September2007 that a solution remained elusive.[8] In the meantime since Danone's biscuit business hasbeen taken over by Kraft, the Tiger brand of biscuits in Malaysia has been renamed Kraft TiGERBiscuits beginning September 2008.

Britannia initiated legal action against Danone in Singapore in September 2007.[10]

The dispute has been resolved with Denonepaying Rs 220 Million for utilizing the brand, andBritannia securing legitimate right to use the Tiger brand worldwide[11]

[edit] Ownership and relationship between majorshareholdersThe Wadias' Kalabakan Investments and Groupe Danone have two equal joint venturecompanies, Wadia BSN and UK registered Associated Biscuits International Holdings Ltd.,which together hold 51 per cent stake in Britannia.[12] The ABIH tranche was acquired in 1992,while the controlling stake held by Wadia BSN was acquired in 1995. It was agreed that, in caseof a deadlock between the partners, Danone is obliged to buy the Wadia BSN stake at a "fairmarket value". ABIH which has a separate agreement signed in 1992 and is subject to the British

law.[12]

[13]

Wadia was to be Danone's partner in the food and dairy business, and product launches fromGroupe Danones were expected but never materialised despite the JV being in existence forover 11 years in India.[12]Under the 1995 joint venture agreement, Danone is prohibited fromlaunching food brands within India without the consent of the Wadias.[14] In addition, the partnersagreed there would be the right of first refusal to buy out the remaining partner in the event ofthe other wishing to sell its holding.[15]

In May 2007, Nusli Wadia told the Ministry of Commerce and Industry that Danone invested ina Bangalore-based bio nutrition company,Avesthagen, in October 2006 in violation of thegovernment's Press Note 1, 2005, which requires a foreign company to obtain the consent of itsIndian joint venture partner before pursuing an independent business in a similar area, including

joint ventures based purely on technical collaboration. Danone argued that Press Note 1 did notapply to it as it did not have a formal technology transfer or trademark agreement withAvesthagen, and that its 25 pct holding in Britannia was indirect.[16] Wadia also filed a case in theBombay High Court for a breach of a non-compete clause in that connection. The court orderedDanone not to alienate, encumber or sell shares of Avestagen. [17]

In September 2007, the Foreign Investment Promotion Board of India rejected Danone's claimsthat it does not need a non-compete waiver from the Wadias to enter into business in India alone.[18]

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In June 2006, Wadia claimed Danone had used the Tiger brand to launch biscuits in Bangalore.[15]

After a prolonged legal battle, Danone has finally agreed to sell its stake in Britannia and get outof this line of business. Danone will sell its 25.48% stake to Leila Lands, which is a Wadia groupentity based in Mauritius. The deal is valued to be at $175200 m. With this buy-out, Wadia's

will hold a majority stake of 50.96%.[19]