Britannia Industries has appointed Varun Berry as its new Chief Executive Officer, effective May 8, 2025. This move consolidates his leadership role within the company, as he will also retain his positions as Executive Vice-Chairman and Managing Director. The decision was made during a Board of Directors meeting and reflects the company’s ongoing commitment to strong leadership amidst challenging market conditions.
Berry's re-designation as Executive Vice-Chairman, Managing Director, and Chief Executive Officer is a significant milestone in his career, acknowledging over a decade of contributions to Britannia. He joined the company in 2013 as Vice President and Chief Operating Officer and has since been instrumental in steering the company through a transformative phase.
The terms and conditions of Berry's appointment, which were approved by shareholders at the 104th Annual General Meeting held on August 28, 2023, will remain unchanged. Berry holds a graduate degree in Engineering (BE Mechanical) from Punjab University and has completed executive programs in Strategic Management from Wharton and the Global Leadership Program at IMD, Switzerland.
Before joining Britannia, Berry had an extensive career with leading companies like Hindustan Unilever and PepsiCo, where he amassed over 38 years of experience. His roles included significant positions in various international markets, including serving as COO in Vietnam and later as CEO of International Dairy and Juice in Dubai.
Berry's appointment comes at a time when Britannia Industries is navigating a challenging operating environment characterized by rising commodity prices and changing consumer preferences. The company reported a 4.2% rise in consolidated net profit to Rs 559.13 crore for the March quarter of FY25, up from Rs 536.61 crore in the same quarter a year ago. This performance highlights the company's resilience amidst subdued demand across the fast-moving consumer goods (FMCG) sector.
During this quarter, Britannia's revenue from product sales rose by 9% to Rs 4,375.57 crore, and revenue from operations increased by 8.9% to Rs 4,432.19 crore, up from Rs 4,069.36 crore in the corresponding period of the previous year. Berry noted, "With a high single-digit value growth of 9% during the last quarter of the year amidst a tight consumption scenario, the performance underscores our resilience in a challenging operating environment marked by rising commodity prices, changing channel dynamics, and subdued demand across FMCG categories.”
Strategic pricing actions and a nimble approach to emerging channels, combined with robust cost efficiency initiatives delivering savings of approximately 3% of revenue, have helped sustain growth and profitability. However, the total expenses for Britannia rose by 10.34% in the March quarter to Rs 3,738.63 crore.
For the full fiscal year ending March 31, 2025, Britannia’s net profit rose 2% to Rs 2,177.86 crore from Rs 2,134.22 crore the previous year. The consolidated income for FY25 increased by 7% to Rs 18,169.76 crore, reflecting the company's ongoing efforts to expand its product portfolio beyond its traditional biscuit offerings. Berry has been pivotal in this expansion, which now includes dairy products, cakes, and other bakery items, aligning with Britannia's vision to become a comprehensive food solutions provider.
As part of its growth strategy, Britannia has also focused on strengthening its retail partnerships. The company now directly caters to approximately 2.9 million outlets across India, with significant penetration in rural areas, ensuring that its products are accessible to a broad consumer base. Berry emphasized the importance of retail channels in reaching consumers and has made it a priority to enhance Britannia’s presence across both traditional and modern trade outlets.
Looking ahead, Berry expressed optimism about the future, stating, “As we enter the new financial year, we will continue to closely monitor commodity prices and evaluate their impact, while staying focused on driving healthy, profitable growth and strengthening our market leadership.” His leadership is expected to guide Britannia through the complexities of the FMCG sector, focusing on innovation, expanding product lines, and enhancing operational efficiencies.
In conjunction with Berry's appointment, Britannia’s board has recommended a final dividend of Rs 75 per equity share of face value of Rs 1 each for the financial year ended March 31, 2025. This recommendation is subject to approval at the upcoming Annual General Meeting, reflecting the company's commitment to delivering value to its shareholders even amid operational challenges.
As Britannia Industries embarks on this new chapter under Varun Berry’s leadership, stakeholders are keenly watching how the company will navigate the evolving market landscape and continue to build on its legacy as a leading player in the food products industry.
