Analyst Meet 21st February 2011

Disclaimer
This presentation may contain statements which reflect Management’s current views and estimates and could be construed as forward looking statements. The future involves risks and uncertainties that could cause actual results to differ materially from the current views being expressed. Potential risks and uncertainties include factors such as general economic conditions, commodities and currency fluctuations, competitive product and pricing pressures, industrial relations and regulatory developments. This communication is not an offer to sell or the solicitation of an offer to buy securities.

Will talk about

• The opportunity in food - - market, consumers, growth • How Britannia is positioned to tap that opportunity
– Consumer & Brands – Customers & Markets – Go To Market Approach

• The trajectory of our performance

com/thefair/market_data.php * Projected .Food is a large and growing space Source: Ministry of Food Processing Industries. India http://www.worldoffoodindia.

Therefore branded food is a big opportunity Source: Ministry of Food Processing Industries.Mostly unbranded --. India Industry estimates. Nielsen Retail Audit .

packaged biscuits dominate food Food % Contribution to total FMCG Non-Food Total Sales (Rs Billion) Top 5 Categories by Sales (Rs Billion) 669 617 Source: Nielsen Retail Audit .Branded.

Branded Food growth has outstripped Non-Food growth Source: Nielsen Retail Audit .

… Driven by Income growth Higher preference for branded foods because of better quality and sensorial experience Convenience .

However there are less noticed household/individual level shifts that have an equally big impact on business .

on-the-go consumption • Indulgent Delight • Morphing of Categories .Key insights driving our business • Affordable Delight • Health and Taste • Any Time. Any Where -.

Any Time. Any Where and on-the-go consumption .

Delight that is affordable to all .

Combining Health and Taste .

Food as entertainment: Delighting through morphing Rusk? Biscuit ? Salty Snack? Biscuit or Chocolate? .

A deep understanding of this phenomenon is helping us diversify our portfolio .

Cheese • Milk Meal Accompaniment Main Meal • Bread • Healthy Start .Increasing relevance and footprint of Britannia • Biscuits • Rusks • Cake In-between meals @ home Anytime Anywhere • On-the-go Packs • Time Pass • Daily Bread • Dahi • Butter.

Cake and Rusk Growth Story Source: BIL .The Bread.

The Dairy Growth Story 190 161 139 116 100 2005-06 2006-07 2007-08 2008-09 2009-10 NSV (Indexed to 2005-06) Source: BIL .

We are ideally placed to benefit from the current trends .

Key Momentum Fulcrums Strong Brands Supply Chain Infrastructure Right Position in the delight Chain Go-to-market Infrastructure Rich Innovation Funnel .

Anywhere.Strong Brands (1) Consumer connect 9 decades of Credentials Universality of Appeal Enjoyable food that is good for you. Anytime. Everyday Delight And Enjoyment In every Bite Umpteen Britannia Special Moments .

Among the top 10 brands in this country for the last 10 Years. No 1 food brand 2010 .

Strong Pillar Brands make for a diversified consumption foot print .

Strong and versatile NutriChoice our seventh pillar brand Digestive Nature Spice Cracker 5 Grain Diabetes Friendly .

Innovation to drive profitable growth .

Activation of the Britannia Credo .

5 Lakhs outlets are serviced directly Institutions/Chain retailers AW Urban Retailer (Direct) Wholesalers Consumers BIL Urban Retailer (Indirect) Rural Retailer (Indirect) RPD Super Stockist Rural Retailer (Direct) mk mkmk . 8.The conventional Distribution infrastructure delivers to 35 Lakhs outlets.

And our brands are where people are Railway Station Coffee Day Xpress Kiosk Corporate Canteen .

CSR – Integral to our business proposition Britannia @ PDS Britannia at the closing plenary of the CGI Annual Meeting in 2009 .

Britannia – India’s Most Respected FMCG Company .

The trajectory of our performance .

014 37.122 34.133 21.662 25.000 05-06 06-07 07-08 08-09 09-10 NSV .212 34.848 27.000 15.Standalone NSV .708 YTD December 10.000 10.000 20.NSV Doubled In 4 Years 35.Growth of 25% . MM 25.000 30.769 31.992 22.Consolidated 17.000 Rs.

2 6 800 2005-06 2006-07 2007-08 2008-09 2009-10 5 A & SP 1.300 6.8 8 1.800 7.800 7.797 2.9 9 2. MM 7 6.0 Rs.688 YTD Dec 10 – Increase of 14% % NSV .356 1.112 2.3 1.300 6.071 1.Sustained Investment Behind Brands 10 2.

.Inflationary And Volatile Commodity Scenario….

Consolidated 1.464 1.….032 YTD Dec 10 – Rs.Standalone PAT .910 1.051 1.800 PAT Rs.300 800 2005-06 2006-07 2007-08 2008-09 2009-10 PAT .Despite cost reduction of over Rs..And Competitive Intensity . MM 1.165 1.020 MM . 2.515 1.076 1.Impacted Profit…. 1.804 1.. ….774 1.000 MM 1.

To Summarize • The opportunity is large and Britannia is well positioned to exploit it • Subsidiary losses curtailed • Biscuit continues to be the most affordable packaged food. registering robust growth • Commodity inflation will stress operating margin – being addressed through fundamental cost re-structuring and revenue management • Investing in people. brands and infrastructure will enhance overall capability & competitiveness .

com .Investor Relations Contact: invrl@britindia.

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