INTRODUCTION

BAKERY INDUSTRYBakery industry in India is the largest of the food industries with an annual turnover of
about Rs. 3000 crores. Bread and Biscuits form the major baked foods accounting for
over 80% of total bakery products produced in the country. . Bakery products once
considered as sick mans diet have now become essential food items of the vast majority
of population. Though bakery industry in India has been in existence since long, real fillip
came only in the later part of 20th century. The contributing factors were urbanization,
resulting in increased demand for ready to eat products at reasonable costs etc. With the
quick food culture catching up, demand for bakery products has increased tremendously.
The bakery industry or for that matter all the businesses catering to bakery are witnessing
a sort of revolution tremendously. In an age where malls, hypermarkets and supermarkets
have become the customer's preferred destination, the concept of chain bakeries has come
into its own. The bakery industry has become more organized in the recent past. It is
following the path of restaurants - as the industry has become more organized, chain
restaurants have taken over the market and standalone restaurants have found it tough to
survive on its own.

INDIAN BREAD HISTORY

The Bread industry is low - tech and low margin industry. In 1977, the
Government of India had reserved bread industry for small scale industries (SSI).
The then existing two large units viz., Britannia Industries Limited and Modern
Food Industries Ltd. were however allowed to continue on the basis of their
respective existing installed capacity.

35 % of the total production comes from the small scale sector with about 15001800 units in operation. The organized sector accounts for 20 % of the total
production. The balance production comes from the unorganized traditional
bakery units operating under cottage/tiny sector numbering approximately 65000
units in the country. BIL & MFIL are having a market share of 10-12 % and 7-8 %
respectively. Apart from big players like BIL & MFIL regional players such as

Spencers in South India, Vibbs in Maharashtra, Harvest Gold and Perfect in

Delhi, etc.

Bread being consumed by wide cross - section of the society, the marketing of
bread is based on strong retail distribution networks, which service the customers.

As bread industry is a low margin business, cost control is crucial in sustaining

profitability in the long run.

The total market size of bread industry is approximately 15 billion standard loaves
(SL) or 1.5 million tonnes. The current growth is around 5 - 6 percent p.a. and is
expected to remain in the same level in the medium term.

EMERGENCE OF HEALTHY PRODUCT

Along with an increase in demand for the bakery products, the awareness about health is
also on the rise. Bakeries are making sure that they come out with healthier products.
"The awareness of the virtues of products like whole grain, health breads, cholesterol-free
products and such other health products is growing in our country. An increasing demand
and health awareness results the demand for products like Specialty Breads.

ABOUT THE COMPANY

I conform to the view that there are three kinds of companies -those that watch things
happen; those that make things happen; and those that wonder what happened. We
certainly wish to make things happen.....My personal commandment is Do unto others
what you don't wish done unto you. It's not the big who swallow the small; it is the fast
that swallow the slow
- Sunil Alagh, CEO, Britannia Industries Limited
Britannia Industries Limited (BIL) is the leading player in Bakery Products (Biscuits,
Bread, Rusk and Cake), jointly promoted by French food major DANONE and Nusli
Wadia. It enjoys market leader ship in Biscuits with 39 % market share in value term. It
owns key brands like Tiger, Good Day and Marie Gold. It has six pillar brands, which
contribute around 90 % of its top line. Each of its pillar brand generating sales exceeding
Rs.1 billion and these six pillar brands include Good Day, Tiger, 50:50,Treat, Milk Bikis,
and Marie Gold. BIL is enjoying market leadership in all sub-categories of biscuits,
Except in Glucose category where Parley is the leading player.

PRODUCT BASKET OF BRITANNIA

The groups principal activities are manufacturing & marketing

Biscuits

Cakes

Rusk

Bread

Daily products

COMPANY PROFILE

Britannia, one of the premier food product company in India. Britannia

started as a small biscuit company in 1892 and has grown to a household
name.
Britannia started its business in Calcutta (now Kolkata) with an initial
investment of Rs. 295. From thereon, Britannia's business flourished
acquiring a reputation for quality and value.
Britannia Industries Ltd. has a number of awards and accolades in its name
like :
Forbes Global rated Britannia 'One amongst the Top 200 Small
Companies of the World'.
The Economic Times pegged Britannia India's 2nd Most Trusted Brand.
Activities
Britannia product line includes biscuits, snacks, packed milk, cheese, butter,
buttermilk and yogurt. Britannia owns popular brands like:
NutriChoice Sugar Out.
NutriChoice Digestive Biscuit.
Treat Fruit Rollz.

 New Britannia Milk Bikis.

Britannia Marie Gold Doubles.
Britannia 50-50.
Britannia Tiger Biscuits.
The Wadia Group (parent company of Britannia) along with
Groupe Danone of France has turned up to be an International FMCG Major
specializing in Fresh Dairy Products, Bottled Water and Biscuits/Cereals.
One of the World leaders in the food industry, some of its achievements are:
No # 1 worldwide in Fresh Dairy Products.
No # 1 worldwide equally placed in Bottled Water (by volume).

No

worldwide

in

Biscuits

and

Cereal

Products.

GROUPE DANONE three core business areas are Fresh Dairy

Products, Beverages and Biscuits and Cereal Products strives to improve the
lives of people around the world by providing them with better and value
added food products. Its dominant position worldwide is based on major
international brands and on its rock solid presence in local markets (about
70% of global sales come from brands that are local market leaders.)
Performance
Britannia has registered a turnover of Rs 21,993 million for the
year ended 31st March 2006-07. Britannia has posted Net Profit to the tune
of

Rs

1076

million

for

the

year

ended

31 st

March

2006-07.

IMPORTANT PERSONS IN THE COMPANY

BOARD OF DIRECTORS

Chairman

Mr.Nusli Neville Wadia

Managing Director

Ms. Vinita Bali

Mr. Keki Dadiseth

Director

Mr. Avijit Deb

Director

Mr. A.K.Hirjee

Director

Mr. Nimesh N Kampani

Director

Mr. S.S.Kelkar

Director

Mr. Pratap Khanna

Director

Mr. Jeh N Wadia

Director

introduced in 1998 with favors such as mint, orange and chocolate. But it did
not really succeed in capturing the consumers attention. So after a few years
it was re launched with just one flavor i.e. chocolate flavor with new
packaging. After the re-launch it has started gaining attention of its potential
buyers and hence is in the growth stage of its life cycle. It has to fight for its
stand in the market since it faces competition from Britannias good-day
choco nuts.
Packaging and Labeling
The time spent by a customer for picking up a product from a retail outlet is
a few seconds; therefore a package should appeal to a customer within such
a small interval of time. In this, both packaging & labeling play an important
role in attracting customers both visually & psychologically
Britannia -the 'biscuit' leader with a history-has withstood the tests of
time. Part of the reason for its success has been its ability to resonate with
the changes in consumer needs-needs that have varied significantly across its
100+ year epoch. With consumer democracy reaching new levels, the one
common thread to emerge in recent times has been the shift in lifestyles and
a corresponding awareness of health. People are increasingly becoming
conscious of dietary care and its correlation to wellness and matching the
new pace to their lives with improved nutritional and dietary habits. This
new awareness has seen consumers seeking foods that complement their
lifestyles while offering convenience, variety and economy, over and above
health

and

nutrition.

Britannia saw the writing on the wall. Its "Swasth Khao Tan Man
Jagao" (Eat Healthy, Think Better) re-position directly addressed this new
trend by promising the new generation a healthy and nutritious alternative that

was

also

delightful

and

tasty.

Thus, the new logo was born, encapsulating the core essence of Britannia healthy, nutritious, optimistic - and combining it with a delightful product
range to offer variety and choice to consumers.
2006-07 was an exceptional year for Britannia with top line sales growing at
27.5%, making Britannia the leader among FMCG Companies in terms of
organic growth. It also saw the Bread, Cake and Rusk business grow 54% to
become

Rs.

2,000

mn

business.

Top line growth was driven by investment in the fundamental

growth pillars of brands - renovating existing brands and launching new ones
and expanding reach. With the segmented and sharpened go to market
strategy , Britannias brands now have greater availability in rural markets
and

pervasive

presence

in

modern

trade.

In a fiercely competitive environment Britannia outpaced market

growth and Britannia brands continue to lead the market in every category,
except for Glucose biscuits. Britannia was ranked second among FMCG
Companies in the Business World Most Respected Company Survey2006.
Britannia's strategy of strengthening and sharpening its brands and
liberating them from existing formats and conventional biscuit archetypes
has paid off. In that context, Tiger is now more than a glucose biscuit and
includes cream and coconut varieties. The Tiger Chota extension draws on
the kids snacking habit presenting biscuits as small, pop-able, snacks in a
pouch pack. Similarly, Treat added Fruit Rollz to its repertoire of delightful
and

indulgent

experiences

for

kids.

Innovation has shown its promise as a key business driver addressing

several purchase and consumption opportunities both in-home and out of
home, as well as for gifting. Britannia's focus on innovation has meant more
new offerings (brands, product and pack forms) than the rest of the industry
combined. Prominent innovations include Chota Tiger, 50:50 Chutkule, Treat

Fruit Rollz, NutriChoice Digestive, NutriChoice Sugarout, Renovated Milk

Bikis and Chocolate Cream in the Tiger range.The Bread, Cake and Rusk
portfolio was strengthened with the successful national launch

of Good

Day cup cakes and extension of rusk to the south.

As a corporate , Britannia has worked for the benefit of all
stakeholders - shareholders, consumers, dealers, suppliers, bankers and
employees. It has established an excellent track record in terms of its
financial performance and dividends distributed to its shareholders . This has
been adequately demonstrated with the Company's topline growing from 8,
478 Mn in 1998 to 23,171 mn in 2007, a growth of 173% over the last 10
years. The net profit grew even more significantly at 273 % from Rs 289 Mn
in 1997-98 to Rs 1,076 Mn in 2006-07, giving a CAGR of 15.72 %.
.
Company History - Britannia Industries
1994
- During the year, the bakery division launched `Bakers Choice' a sweet
biscuit and `Thinlite' a light semi-sweet biscuit aimed at fitness concious
consumers.
1995
- Under the `Pure Magics' Umbrella, the company launched a new sandwich
cream

biscuit with two-in-one flavour viz. double cream and this was well

received in the market. In the cake market, under the premium segment, the
company launched with Groupe Danone's technological input a Swissroll
Cake Mini Roule which was also met with good response.
1996

- Marie gold biscuits registered quantum growth in volumes and milk bikis
milk cream launched during the year was well received. Despite general
slowdown in the economy the company's profits improved.
1997
- The Biscuit industry has been dereserved which would not only remove
restriction on increasing capacity but would also provide opportunities of
growth through new products and efficient production systems. The
Company undertook to diversify into cheese and dairy whitner.
- The Company launched `Tiger' range of biscuits for mass market category,
`Jim-Jam' and `Chekkers' in the premium segment.

The Company also

launched Butter in Delhi during the year.

- Britannia Industries Ltd is all set to launch a new corporate identity and a
total revamp of its product portfolio, with strategic inputs from an
international strategic design and brand repositioning company - Shining
Strategic Design.
1998
- Food major Britannia Industries Ltd (BIL) has signed a wage agreement
with the Maharashtra General Kamgar Union (MGKU), providing an
average wage increase for 1,000 workers employed in the biscuit
manufacturing unit at Reay Road, Mumbai.
- The company has launched Half/Half, a soft cake filled with cream in two
variants, chocolate-vanilla and vanilla-orange. Half/Half comes in a twincake pack (Rs.6) and a tray pack containing five cakes.
1999

- Britannia Industries Ltd has rolled out its flavoured milk brand `Zip-Sip' in
tetrapaks. Zip-Sip has been launched in Mumbai and some markets in the
South.
- Britannia Industries, launching the country's first branded flavoured milk
is another step towards its goal of becoming a dairy-products giant.
2000
- Britinnia Industries has launched consumer promotion scheme `Britannia
Khao, Cricketer Ban Jao' on May 1st.
- Britannia Industries, in its second coming in the Indian dairy market under
the `Milkman' brand, is introducing a range of products many in desi
flavours to woo the Indian consumer.
- The Company has launched Vita Mariegold, a semi-sweet biscuit which
reportedly has 10 essential vitamins, milk protein and 58 cereals.
2001
- Britannia Industries has launched Britannia Milkman Milk in Delhi.
- Biscuits major Britannia Industries will fund its in-principle agreement to
acquire 49 per cent of Kwality Biscuits through internal accruals.
2002
-Britannia Industries Ltd announced on March 26, 2002 that it has entered
into a joint venture with the Fonterra Cooperative Group, New Zealand's
biggest company and one of the leading diary co-operative groups in the
world.
-Britannia's new COO is Nikhil Sen.
2003

- Board of Directors of Britannia Industries Ltd has passed a resolution to

terminate the employment of Mr S K Alagh as Managing Director of the
company with immediate effect.
- The management of Britannia Industries has roped in John Miller, a
Danone representative, as additional director on its board.
-Britannia New Zealand Foods, a joint venture of Britannia Industries and
Fonterra Co-operative group of New Zealand has launched Britannia
MilkMan fresh milk.
2004
-Britannia Industries Ltd has informed that pursuant to the approval of the
shareholders of the Company at the AGM held on August 08, 2003 and the
subsequent application to the Cochin Stock Exchange Ltd., the said stock
exchange has delisted the securities of the Company with effect from
November 15, 2003.
2005
-Britannia New Zealand launches health drink for adult.
2006
-Britannia Industries Ltd has forged a strategic alliance with CCD. Daily
Bread Pvt Ltd a Bangalore based Company engaged in manufacturing and
retailing of premium breads, cakes and high end ready to eat foods and
snacks.
-Britannia Industries Ltd has appointed Mr. Stephan Gerlich as a Director.

COMPANYS BACKGROUND
Britannia was incorporated in 1918 as Britannia Biscuits Co LTD in
Calcutta. In 1924, Pea Frean UK acquired a controlling stake, which later
passed on to the Associated Biscuits International (ABI) an UK based
company. During the 50s and 60s, Britannia expanded operations to
Mumbai, Delhi and Chennai. In 1989, J M Pillai, a Singapore based NRI
businessman along with the Groupe Danone acquired Asian operations of
Nabisco, thus acquiring controlling stake in Britannia. Later, Groupe Danone
and Nusli Wadia took over Pillais holdings.
PLANT LOCATION :

Britannia's plants are located in the 4 major metro cities Kolkatta,

Mumbai, Delhi, and Chennai. A large part of products are also outsourced
from third party producers. Dairy products are out sourced from three
producers - Dynamic Dairy based in Baramati, Maharashtra, and Modern
Dairy at Karnal in Haryana and Thacker Dairy Products at Howrah in West
Bengal.
Britannia had spent 0.1 million US$ to hire Paris based designer
Shombit Sen Gupta to create a logo and packaging design. The logo had
three objectives:

Give consumer reassurance that it was a trusted and familiar brand.

Britannia has the ability to change.

It had to be appropriate to the business the company was in.

The logo consists of the companys name and slogan, Eat Healthy

Think Better. The Hindi rendition is Swastha Khao, Tan Man Jagao. The

corporate statement Eat Healthy Think Better captures the Indian concept
of the unity of mind and body.
The logo has three colours red, white, and green each having its own
significance. Colour Red denotes Energy and Vitality. White denotes purity.
Green stands for Nutrition and Freshness. The strike communicates
Innovation and Futuristic Power of Britannia.
Today, Britannia is the largest biscuit and bakery company in the
country with the daily sales turnover of over Rs. 8478 million. It is the
market leader in the 1.3-million tonne Indian biscuits industry with a 60%
share. It has maintained market leadership with a 48% value market share in
the organized sector.
Britannia core businesses constitute of Bakery and Dairy products.
Bakery products account for 90% of the revenues and include Biscuits,
Bread and Cake & Rusk. Dairy products contribute to 10% of Britannias
annual turnover of Rs13.38bn. Throughout its existence, Britannia has
operated on the principles of providing products to the consumers that are
healthy and tasty. This is brought about by the use of high quality ingredients
with a strong focus on naturalness and modern manufacturing practices.
The company today has a wide range of bakery products in the biscuit, bread
and cake segment. It has trimmed down its wide product portfolio by
reducing the products from 35 to around 25 and began to focus on valueadded instead of low-margin products.
BIL (Britannia Industries Ltd.) has decided to focus on seven core brands
in the biscuits and bakery category. The brands included Good Day, Tiger,
50-50, Snax, and the Cream Treat brands, among others.
. With the launch of Tiger brand, it has taken a plunge in the low-end
category, taking competition head on with Parle, which is the leader in this

segment. The company has also diversified within dairy and bakery products
to enter the butter, cheese and ghee markets. The portfolio was expanded
with the launch of butter, pure flavored milk in tetra packs and UHT milk.
Britannia has built an enviable retail distribution network, which
services 400,000 retail outlets in 2,200 towns with the help of 2,500
distributors. The company is aggressively expanding its network with a bias
towards the rural markets Recently, in the ethnic food segment, the company
introduced a new range of traditional namkeens in Mumbai called Britannia
Snax. The new range includes seven varieties of traditional namkeens like
'Bikaner ki Bhujia' and 'Rajasthani Alu Bhujia' in a price range of between
Rs 5 and Rs 20.The company is in the process of setting up a Greenfield
Biscuit Project in Uttaranchal to augment its production capacity, entailing
an investment of about Rs 55.2 crore. This plant will have capacity to
produce over 45,000 tonnes of two or three varieties of biscuit per annum.So
after over seven decades of being inseparable part of life in India, Britannia
is now set to usher its customers into a healthier and tastier future

OBJECTIVES OF STUDY

To know the feedback of customers regarding the services

which are being provided by the company.

To understand the importance of client relationship.

To understand customer satisfaction regarding the products

offered by the company.

To find out the problems faced by customer.

To know the Advertising Strategies towards the after sales

service offers by Britannia.

RESEARCH METHODOLOGY
Research Methodology is a systematic method of discovering new facts or
verifying old facts, their sequence, inter-relationship, casual explanation and
the natural laws which governs them. In it we study the various steps that are
generally adopted by a researcher in the studying his research problem along
with the logic behind them.

Different stages involved in research consists of enacting the problem,

formulating a hypothesis, collecting the facts or data, analyzing the facts and
reaching certain conclusion either in the form of solution towards the
concerned problem or in generalization for some theoretical formulation.
Type of Sample Design:
Sample Size:

Judgment Sampling

100 Percent Respondent of People

In Research Methodology mainly Data plays an important role.

The Data is divided in two parts:
a) Primary Data.
b) Secondary Data.
Primary Data is the data, which is collected directly by direct personal
interview,
Interview, indirect oral investigation, Information received through local
agents, Drafting a schedule, drafting a questionnaire.
Secondary Data is the data, which is collected from:
Various books.

Magazine and material.

Internet
The data which is stored in the organization and provide by the HR people
are also secondary data. The various information is taken out regarding that
subject as well other subject from various sources and stored. The last years
data stored can also be secondary data. This data is kept for the internal use
of the organization.
The HR manual is for the internal use of the organization they are secondary
data which help people to gain information. In this report the data plays a

very crucial role. For this report the data was provided to me by HR
department and other departmental head in the organization.

PRODUCTS PROFILE
Products offered by Britannia industries
Britannia Portfolio

GLUCOSE BISCUITS
TIGER
CHOTA TIGER
TIGER CHAI BISKOOT
TIGER ROSEMILK CREAM
TIGER BRITA ENERGY POPS
TIGER CHOCLATE CREAM
TIGER ORANGE CREAM
TIGER COCONUT ENERGY
TIGER ELAICHI CREAM
TIGER KESAR CREAM
TIGER BANANA

CREAM BISCUITS
TREAT CHOCO GELO
TREAT DELICIOUS DATES
TREAT APPLE PUNCH
TREAT FLAVOURED TANGY ORANGE
TREAT STRAWBERRY FLAVOURED SURPRISE
BOURBORN TREAT
TREAT ELAICHI FON
TREAT JIM JAM
TREAT MANGO MISCHIET
TREAT MASTI ORANGE
TREAT PINEAPPLE PRANK

NUTRI CHOICE BISCUITS

NUTRI CHOICE 5GRAINS
NUTRI CHOICE DIGESTIVE
NUTRI CHOICE CREAM CRACKER
NUTRI CHOICE THIN ARROWROOT
NUTIR CHOICE SUGAROUT CHOCLATE
MARIE BISCUITS
MARIE GOLD
VITA MARIE GOLD
MILK BISCUITS

 MILK BIKIS
MILK BIKIS CREAM
GOOD DAY BISCUITS
GOOD DAY CHOCONUT
GOOD DAY BUTTER SCOTCH
GOOD DAY HONEY & RAISIN
GOOD DAY CHOCLATE CHIP
GOOD DAY RICH BUTTER COOKIES
GOOD DAY RICH CASHEW COOKIES
GOOD DAY RICH PISTA BADAM
50-50 BISCUITS
50-50
50-50 MASKA CHASKA
PEPPER CHAKKAR

LITTLE HEARTS
LITTLE HEARTS CLASSIC

PURE MAGIC
PURE MAGIC

SWOT ANALYSIS

Strength

Weakness

Fulfill one of our Basic

Requirement among Air ,
Water , Food, Shelter
Widely

accepted

Increases the cost of food

product

in

all

Generations
Easily available in various
forms
Provide good Instant Remedy
for hunger in the form of
readymade food
Preserves the non seasonal
food and makes it available all
throughout the year

Decreases nutritional value

Industry

and

technology

requires high investment

Regular usage of processed
food can cause alteration in
health

Opportunities

Threats

Increase economy of India

Generate

Many companies are result

employment

Increase in pollution

opportunity
Good quality of Goods
Provide

oriented

competition

Sometimes
to

foreign companies

provide

quality of product for more

profit

Improve living standard

Lack of technology

Provide goods to nation at

Unable

cheaper rate
Inflow of foreign reserve and
funds for the govt.(taxes)

poor

to

utilize

resources efficiently

all

the

COMPETITORS :
Generally all organizations have competitors in the market. A particular
organization always comprises with other same business and according to
market share we clarify the brand of product is giving more challenge to my
product.

DATA ANALYSIS & INTERPRETATION

FINDINGS:1.Have you tasted speciality bread

Cumulative

Valid yes
no

Frequency Percent

Valid Percent Percent

73

76.8

76.8

76.8

22

23.2

23.2

100.0

100.0

100.0

Total 95

FIG.5

2.Where did you observed speciality breads for the first time-:
Cumulative
Frequency Percent

Valid Percent Percent

38

40.0

43.2

43.2

22

23.2

25.0

68.2

26

27.4

29.5

97.7

Other

2.1

2.3

100.0

Total

88

92.6

100.0

Missing System

7.4

Total

95

100.0

Valid

Food outlets
Restaurant or Hotels
Menu Card
Local Bakery shops or
Grocery store

FIG.6
3.
Have you ever tried Specialty bread at home
Cumulative

Valid

Frequency

Percent

Valid Percent

Percent

yes

60

63.2

63.2

63.2

no

35

36.8

36.8

100.0

Total

95

100.0

100.0

FIG.7

4.Price of the product is

Cumulative
Frequency Percent

Valid Percent Percent

10

10.5

10.5

10.5

reasonable 39

41.1

41.1

51.6

High

32

33.7

33.7

85.3

no idea

14

14.7

14.7

100.0

Total

95

100.0

100.0

Valid Low

FIG.8

5.Availability of the product nearby your home(In Distance)Cumulative

Frequency Percent

Valid Percent Percent

Valid 0-2 km 24

25.3

25.3

25.3

2-5 km 35

36.8

36.8

62.1

>5km

28.4

28.4

90.5

no idea 9

9.5

9.5

100.0

Total

100.0

100.0

27

95

FIG.9

6.Have you suggested speciality breads to anyone Cumulative

Valid yes
no

Frequency Percent

Valid Percent Percent

59

62.1

62.1

62.1

36

37.9

37.9

100.0

100.0

100.0

Total 95

FINDINGS
In this project I calculate some ratios; these ratios are very useful to
interpret financial position of the company. From that it is clear that
the Britannia and Cadbury india Ltd are in advanced stage. From the
ratios calculated above following conclusions can be drawn.
The gross profit earned by the both the companies are declining every
year. From 2006 to 2010, it is fluctuating a lot which is due to failure
in managing purchases, production, sales and inventory or loses
control over direct costs of labor, fuel, freights etc.
Operating ratio of Britannia going down from 2006 to 2010 which is
nothing but due to certain reasons like low efficiency in managing the
operations of the company or low margin available to meet nonoperating expenses whereas as compared to Cadbury the fluctuations
are not much.
The net profit is nothing but profit earned by the company after
deducting interest and taxes. The graph is showing that in Britannia
from 2006 to 2010,the net profit is declining which is due to
inefficiency in managing its activities like trading, production,

financing and investment or unsatisfactory control over operating or

non operating costs whereas in Cadbury its rising from year year.

SUGGESTIONS:-

The in-depth analysis of key financial ratios in this project helps

in measuring the financial strength, liquidity conditions and
operating efficiency of the company. It also provides valuable
interpretation separately for each ratio that helps organization
implementing the findings that would help the organization to
increase its efficiency.
Ratios are only post mortem analysis of what has happened
between two balance sheet dates. For one thing the position of
the company in the interim period not revealed by analysis,
moreover they give no clue about the future. Ratio analysis in
view of its several limitations should be considered only as a
tool for analysis rather than as an end itself.
From the analysis it is evident that the gross profit ratio is good,
whereas the operating ratio is around optimum level to the
industry standards. As a whole the liquidity position of the
company is good.

The company not very well used its fixed assets efficiently
company has reduce it in order to invest the major portion in
working capital or investment in current assets. This is one of
the reason for profit fluctuation.
Thus finally the company must try to improve its profit margins
as they are below industry levels. This improvement may also
bring up its return on investment and overall efficiency to the
company.

 The business environment of both the company is reasonably

good. The companys track record is always oriented towards
profitable growth and with strong fundamentals

LIMITATIONS
Though the every researcher tries his/her best to fulfill the objectives of his,
her study, but still there are some limitation.
The authority and genuinely of the data received cannot be tested as
every company does not disclose al l of its records on internet or
discloses bon the financial statement.
False result
Accounting ratio is based on data drawn from accounting records. In
this case if data is correct, then only the ratio will be correct. The data
therefore must be absolutely correct.
Effect of price level changes
Price level changes often make the comparison of figures difficult
over a period of time.
Changes in price affect the cost of production, sales and also the value
of the assets.
The comparison is rendered difficult because of differences in
situations of one company as compared to the other.
Ratios are tool of quantitative analysis only. Normally qualitative
factors are needed to draw conclusions.
Ratio Analysis is only the beginning as it gives only a little
information for the purpose of decision making.

BIBLIOGRAPHY
Following books were referred for carrying out the project: 1. Financial Management by N.M. Venchalekar.
2. Financial Management by KHAN AND JAIN.
3. Annual Reports of Britannia and Cadbury India Ltd.
4. Financial Management by Ainapure Ainapure

Following websites were referred: 1.

2.
3.
4.

www.money.rediff.com
www.cadburyindia.com
www.wikipedia.com
www.cadbury.com

QUESTIONNAIRE
Name
Occupation

Age
Gender

Que.1-Have you tasted any of speciality breads (listed below) before :-( If NO, Leave
This Question Blank)
a-Cheese Garlic bread
e-French bread
b-Multi grain bread
f-Masala bread
c-Dinner roll bread
g- Mushroom bread
d-Hot Dog bread
h-Other (specify)..
Que.2- Where did you observed speciality breads for the very first time-:-( If NO,
Leave This Question Blank)
1. Food outlets(like Pizza Hut, Cafe Coffee Day, Papa Johns, McDonalds)
2. Restaurant or Hotels Menu Card
3. Local Bakery shops or Grocery stores
4. Other (Please Specify)
Que.3- Have you ever tried speciality bread at home?
1) Yes
2) No
Que.4- According to you, Price of the product is
1) Low
2) Reasonable
3) High
4) No Idea
Que.5-Availability of the product nearby your home (In Distance)1) 0-2 km
2) 2-5km
3) more than 5 km 4) No Idea
Que.6- Have you suggested speciality breads to anyone ?
1) Yes
2) No
Que.7Have you Find the speciality breads of Companies given below at Grocery
stores-[If necessary, put more than one (*) sign] :-( If NO, Leave This Question Blank)
a- Britannia
b- Daily bread
c- Cremica
d- Bonn
e- Other (Please Specify)
Que.8- Have you seen any Promotional activity of the product through Electronic Media
(T.V) or Print Media (Newspaper or Magazines)1) Yes
2) No
9- Gender OccupationResidence (Area & City only)Annual Income- a) less than 5 lakhs
b) 5- 10 lakhs
c) 10- 15 lakhs d)
More then 15 lakhs
(Family Income)
----------------------------------- Thanking you ---------------------------------------------