Britannia Industries (BRIT IN) – Q3FY26 Result Update – GST transition benefits to push growth – BUY

Published on 11 Feb 2026

We remain positive on BRIT given 1) expected uptick in volume growth post GST transition 2) success of new launches and 3) possibility of entry into new categories with new B2C platforms. We estimate double digit sales and 17.0% EPS CAGR over FY26-28 and value the stock at 50x Dec’27EPS and assign a target price of Rs6972 (Rs6761 earlier). Retain BUY.
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