Brands
Britannia bites into growth as profits rise despite incentive crunch
Higher volumes lift Q3 numbers even as tax tweaks trim operating income.
MUMBAI: Biscuits may be everyday fare, but Britannia Industries Limited served up a fairly chunky set of numbers in the December 2025 quarter, proving that steady demand can still outweigh policy crumbs.
For the quarter ended December 31, 2025, Britannia reported total income of Rs 5,029.28 crore, up from Rs 4,655.08 crore a year ago. Revenue from operations came in at Rs 4,969.82 crore, driven largely by sale of goods worth Rs 4,885.23 crore, compared with Rs 4,463.30 crore in the same quarter last year.
Profit before tax rose to Rs 919.03 crore from Rs 778.39 crore a year earlier, while net profit for the quarter climbed to Rs 682.14 crore, up from Rs 582.30 crore in the December 2024 quarter. Earnings per share followed suit, rising to Rs 28.23 from Rs 24.15.
For the nine months ended December 31, 2025, the company posted revenue from operations of Rs 14,432.67 crore, compared with Rs 13,510.48 crore in the corresponding period last year. Net profit for the nine-month period stood at Rs 1,857.33 crore, up from Rs 1,618.73 crore, underlining consistent growth across quarters.
Costs, however, continued to nibble at margins. Total expenses for the December quarter rose to Rs 4,107.59 crore from Rs 3,874.65 crore a year ago, with higher employee benefits expense of Rs 214.73 crore and other expenses of Rs 955.28 crore reflecting inflationary pressures and scale-up costs.
A notable dent came from policy changes. Following a reduction in State Goods and Services Tax rates in September 2025, Britannia’s entitlement to state fiscal incentives fell, reducing other operating revenue by about Rs 65 crore in the December quarter. That said, the impact was partially cushioned by recognition of Rs 45.72 crore as fiscal incentive income relating to the period from April 2024 to September 2025, after receiving approval from a state government.
Other income for the quarter stood at Rs 59.46 crore, including dividends of Rs 34.53 crore received from subsidiaries. Over the nine-month period, dividend income from subsidiaries totalled Rs 93.47 crore, providing an additional buffer to the bottom line.
For context, in the year ended March 31, 2025, Britannia had reported revenue from operations of Rs 17,942.67 crore and net profit of Rs 2,177.86 crore, making the current nine-month performance broadly in line with its longer-term growth trajectory.
All told, while fiscal incentives may be shrinking, Britannia’s core business continues to rise to the occasion, showing that in the FMCG game, volume, brand loyalty and scale can still help a company keep its balance even when the policy recipe changes.
Brands
Raj Cooling Systems launches Agreyas appliances brand
Emraan Hashmi named brand ambassador for consumer appliance push.
MUMBAI: A company known for cooling solutions is now heating up its ambitions in the home appliances market. Raj Cooling Systems Pvt. Ltd. has launched a new consumer appliances brand, Agreyas, marking its entry into India’s rapidly expanding home appliances sector valued at more than Rs 1.5 lakh crore. The move represents a strategic diversification for the company, which has traditionally focused on cooling solutions for residential, commercial and industrial applications. Through Agreyas, the firm plans to tap into growing consumer demand for energy efficient and technology driven household appliances.
To build brand visibility, Agreyas has appointed Emraan Hashmi as its brand ambassador. The campaign has been developed under the banner of Zoommantra Productions, with actor and filmmaker Rohit Roy contributing to the creative direction.
The brand’s initial portfolio will include mid premium air conditioners, washing machines, geysers and other white goods designed to cater to modern Indian households seeking efficient and reliable appliances.
Raj Cooling Systems, founder and chairman Kalpesh Ramoliya said the launch aligns with the company’s broader expansion plans.
“The launch of Agreyas is in line with our vision to build a strong presence in India’s consumer electronics and home appliances market. The brand has been developed as a standalone identity to meet the evolving needs of Indian consumers,” he said.
Hashmi said the collaboration comes at a time when Indian buyers are increasingly looking for innovative and functional home solutions.
“I’m looking forward to working with Agreyas at a time when consumers are seeking more innovative and efficient home products. The brand reflects changing consumer behaviour around functionality, innovation and ease of use,” he said.
Raj Cooling Systems plans to invest around 10 million dollars in developing the brand, with an additional 5 million dollars earmarked over the next three to five years for product development and distribution expansion.
Agreyas will follow a multi channel distribution approach, selling through online platforms, retail outlets and dealer networks aimed at both urban and semi urban markets across India.
With the launch, the company is positioning Agreyas as a standalone consumer facing brand while continuing to leverage its existing manufacturing, engineering and research capabilities built through its core cooling solutions business.
