Bengaluru: Britannia Industries'CEO, Rajneet Singh Kohli, has resigned from the company to pursue an opportunity outside the firm. Kohli will be relieved from his duties on March 14, showed the stock exchange filing. Britannia is yet to announs his successor.
The Exit Comes at a Crucial Juncture for Britannia, as the company Navigates inflationary pressures and pricing strategies To protect its margins. In February, the company announced its plans to increase pris by 4.5% by the end of the 2024-25 financial year, after implementing a 2% price in the Thirds 100 RS 100 CORORON Revenues. The move was part of a broader strategy to mitigate rising input costs, Including Cereal, Oil, and Cocoa Price Inflation, which the company said reminded higher than anticipated.
Under Kohli's Leadership, Britannia focused on Premiumization, Innovation, and Rural Expantion. The company expanded its direction direction Network from 27.9 Lakh Outlets in March to 28.8 Lakh Outlets in December, While Its Rural Distributor Base Grew from 30,000 to 31,000. These Efforts aimed at Deepening Penetration in Key Markets, with States Such as Madhya Pradesh, Rajasthan, Uttar Pradesh, and Gujarat Emerging as High-Growth Regents.
Britannia's revionue for the December Quarter Stood at Rs 4,463 Crore, Reflecting a 6.5% Year-On-Year Growth, While Its Net Profit Rose 4.5% to Rs 582 Crore. However, Vice Chairman Varun Berry Noted that Infectionary Challenges persisted, with the Consumer Food Price Index (CFPI) Neering Double Digits. He Emphahsized that the impact of Govt-Emposed Palm Oil Duties and Volatile Cocoa Prisis Lasted Longer Than expected.
Kohli, Who Took Charge as Ceo in 2022, Previous Held Leadership Roles at Hindustan Coca-Cola Beverages And Asian Paints.
(Tagstotranslate) Business News (T) Pricing Strategies (T) Inflationary Pressures (T) Hindustan Coca-Cola Beverages (T) Consumer Food Price Index (T) Ceo Rajneet Singhli (T) Industries (T) Britannia Ceo Resignation
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