Food and Beverage Business

Britannia Industries Announces Closure of Factory in India

Britannia Industries Announces Closure of Factory in India Britannia Industries Food and Beverage Business Britannia Industries

India’s Britannia Industries is set to close its biscuit factory in a Kolkata suburb after all permanent workers accepted voluntary retirement schemes. The company announced the closure of the Taratala facility, established in 1947, which reportedly had around 150 employees. According to The Times of India, the closure of this unit is not expected to significantly impact the company or the state’s revenue.

The factory closure was attributed to it being outdated, as reported by local sources. Britannia Industries’ portfolio includes biscuits, bread, cakes, and dairy products, supplying the domestic market and 80 destinations worldwide. Brands like Good Day, Tiger, NutriChoice, Milk Bikis, Marie Gold, and Little Hearts are part of their offerings.

Besides West Bengal, the company operates three other biscuit manufacturing plants in the eastern states of Bihar, Odisha, and Assam. In the financial year ending March 31, 2024, Britannia Industries recorded revenue of Rs165.46bn ($1.98n), marking a 3.5% increase from the previous year. Operating profit also saw a growth of 10.1% to Rs28.69bn.

Vice chairman and managing director Varun Berry reflected on the company’s performance, noting resilience and competitiveness in a tepid consumption scenario by achieving revenue growth of 19% and an operating profit increase of 43% over the past 24 months. Market share improved due to strategic pricing actions, brand investments, and distribution expansion.

For further details on this development, Just Food has reached out to Britannia Industries. To access comprehensive company profiles powered by GlobalData, including industry insights and competitive edge, visit their store. Sign up for the daily news round-up to stay informed about food and beverage industry trends and consumer insights.

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