Britannia Industries hands CEO role to MD Varun Berry

Britannia Industries Appoints Varun Berry as New CEO

Indian food products company Britannia Industries has announced the appointment of Varun Berry as its new CEO. This move comes in addition to Berry’s current roles as executive vice-chairman and managing director, as stated in a recent stock exchange filing.

Berry takes over from Rajneet Kohli, who left the company in March to join Hindustan Unilever as executive director of the foods business. Berry first joined Britannia in 2013 as vice president and chief operating officer, bringing with him over 38 years of experience from companies such as Hindustan Unilever and Pepsico, both in India and internationally.

Known for brands like Good Day, Tiger, and NutriChoice biscuits, Britannia highlighted Berry’s successful track record in leading start-ups, joint ventures, and growing businesses. The company also reported its financial results for the fourth quarter and full fiscal year ended 31 March.

For the quarter, Britannia posted total revenue from operations of Rs44.32bn ($519m), a 9.3% year-on-year increase. Total comprehensive income for the quarter rose 4.2% to Rs5.56bn, with net profit increasing to Rs5.59bn.

Looking at the full fiscal year, consolidated revenue from operations grew 7% to Rs179.42bn, while total comprehensive income edged up 2% to Rs21.84bn. Net profit for the year rose marginally to Rs21.77bn, with basic and diluted earnings per share increasing 1.8% to Rs90.45.

The board has recommended a final dividend of Rs75 per equity share for FY2024–25, subject to approval at the AGM. In response to the challenging operating environment, Berry emphasized the company’s resilience and focus on driving healthy, profitable growth while maintaining market leadership.

Looking ahead, Britannia will closely monitor commodity prices and evaluate their impact, with a continued emphasis on growth and market positioning. The company’s decision to appoint Varun Berry as CEO signals a new chapter in its leadership and growth strategy.

For more information, the original article “Britannia Industries hands CEO role to MD Varun Berry” was published by Just Food.