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Britannia shares can surge to ₹7,000, Antique says with a 'buy' ratingAntique values Britannia Industries at 50 times its estimated price-to-earnings ratio for financial year 2028, which is a 16% premium to its 10-year average.By Mangalam Maloo  March 12, 2026, 10:12:46 AM IST (Published)2 Min ReadShares of Britannia Industries Ltd. declined over 1% on Thursday, March 12, even as brokerage firm Antique initiated coverage on the stock.

Antique initiated coverage with a "buy" rating on Britannia with a price target of ₹7,000 per share, an upside potential of 18.2% from its previous close.

Britannia Industries offers a compelling medium-term investment opportunity within the FMCG space.

The analyst said this conviction stems from:

Premiumisation within the core biscuits business.

Scaling of other categories which have higher margins.

Distribution expansion in underpenetrated and markets coupled with GST

and stable raw material prices.

Antique values the company at 50 times its estimated price-to-earnings ratio for financial year 2028, which is a 16% premium to its 10-year average.

Britannia reported a steady set of earnings for the third quarter.

Its standalone net profit increased ₹682.1 crore from ₹582.3 crore in the previous year. Its revenue increased 8.2% to ₹4,969.8 crore.

Its EBITDA was up 16% at ₹980.3 crore and its EBITDA margin expanded to 19.7% from 18.4% in the year-ago period.

Its consolidated net profit was up 17% at₹ 682 crore.

On a consolidated basis, its sales stood at ₹4,885 crore in the third quarter, up 9.5% from the previous year.

Of the 40 analysts who have coverage on the stock, 31 have a 'buy' rating, seven have a 'hold' rating and two have a 'sell rating,

Shares of Britannia India were down 1.3% at ₹5,846 apiece. The stock has declined 6.5% in the past six months.

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