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We have taken efforts in this project. However, it would not have been possible without the kind support and help of many individuals and organizations. I would like to extend my sincere thanks to all of them. And our special thanks to our Principal Dr. Shreedhar Shetti & Dr Kamla Rajiv Mam Hod Of Bmm Department for giving us a chance and work on it. We highly indebted to BRITANNIA for their guidance and constant supervision as well as for providing necessary information regarding the project & also for their support in completing the project.We would like to express my gratitude towards my parents & members of BRITANNIA group for their kind co-operation and encouragement which help us in completion of this project We would like to express my special gratitude and thanks to industry persons for giving us such attention and time. Our thanks and appreciations also go to my colleague in developing the project and people who have willingly helped me out with their abilities.

CATALOGUE

History of Britannia Company

The company was established in 1892, with an investment of Rs. 295. Initially, biscuits were manufactured in a small house in central Kolkata. Later, the enterprise was acquired by the Gupta brothers and operated under the name of "V.S. Brothers." In 1918, C.H. Holmes, an English businessman in Kolkata, was taken on as a partner and The Britannia Biscuit Company Limited (BBCo) was launched. The Mumbai factory was set up in 1924 and Peek Freans UK, acquired a controlling interest in BBCo. Biscuits were in big demand during World War II, which gave a boost to the companys sales. The company name finally was changed to the current "Britannia Industries Limited" in 1979. In 1982 Nabisco Brands Inc., USA became a major foreign shareholder. Kerala businessman K. Rajan Pillai secured control of the group in the late 1980s, becoming known in India as the 'Biscuit King'. In 1993, the Wadia Group acquired a stake in ABIL UK, and became an equal partner with Group DANONE in Britannia Industries Limited. In what The Economic Times referred to as one of [India's] most dramatic corporate sagas, Pillai ceded control to Wadia and Danone after a bitter boardroom struggle, then fled his Singapore base to India in 1995 after accusations of defrauding Britannia, and died the same year in Tihar Jail. With all this inspiring history, Britannia has reached every households of India reaching the top 100 Most Trusted brands listed in The Brand Trust Report by Trust Research Advisory.

History of Biscuit
The history of biscuits can be traced back to a recipe created by the Roman chef Apicius, in which "a thick paste of fine wheat flour was boiled and spread out on a plate. When it had dried and hardened it was cut up and then fried until crisp, then served with honey and pepper." The word 'Biscuit' is derived from the Latin words 'Bis' (meaning 'twice') and 'Coctus' (meaning cooked or baked). The word 'Biscotti' is also the generic term for cookies in Italian. Back then, biscuits were unleavened, hard and thin wafers which, because of their low water content, were ideal food to store. As people started to explore the globe, biscuits became the ideal travelling food since they stayed fresh for long periods. The seafaring age, thus, witnessed the boom of biscuits when these were sealed in airtight containers to last for months at a time. Hard track biscuits (earliest version of the biscotti and present-day crackers) were part of the staple diet of English and American sailors for many centuries. In fact, the countries which led this seafaring charge, such as those in Western Europe, are the ones where biscuits are most popular even today. Biscotti is said to have been a favourite of Christopher Columbus who discovered America! Making good biscuits is quite an art, and history bears testimony to that. During the 17th and 18th Centuries in Europe, baking was a carefully controlled profession, managed through a series of 'guilds' or professional associations. To become a baker, one had to complete years of apprenticeship -working through the ranks of apprentice, journeyman, and finally master baker. Not only this, the amount and quality of biscuits baked were also carefully monitored.

The English, Scottish and Dutch immigrants originally brought the first cookies to the United States and they were called teacakes. They were often flavoured with nothing more than the finest butter, sometimes with the addition of a few drops of rose water. Cookies in America were also called by such names as "jumbles", "plunkets" and "cry-babies". As technology improved during the Industrial Revolution in the 19th century, the price of sugar and flour dropped. Chemical leavening agents, such as baking soda, became available and a profusion of cookie recipes occurred. This led to the development of manufactured cookies. Interestingly, as time has passed and despite more varieties becoming available, the essential ingredients of biscuits haven't changed - like 'soft' wheat flour (which contains less protein than the flour used to bake bread) sugar, and fats, such as butter and oil. Today, though they are known by different names the world over, people agree on one thing - nothing beats the biscuit!

Biscuit Making Process

MIXING: This is a process where all ingredients are put
together in right proportion for dough formation. These ingredients are then fed into Mixers where mixing is done and dough is prepared for moulding/cutting .Major ingredients are flour, fat, sugar and others as per the product one would like to have.

MOULDING: In this section we laminate the dough into sheet, which then passes down to gauge
rollers, and sheet thickness is achieved for moulder/cutter. Here we have a cutter or moulder as per the variety where one gets the shape and sizes of biscuits.

BAKING: This is the area where we pass these moulded wet biscuit into baking oven. The biscuits are
baked on desired temperatures. Various type of heating are available now days as per the convenience and cost. Different type ovens are available.

COOLING: These baked biscuits are then

passed on to cooling conveyors for natural cooling prior too packing .The temperatures are brought down to room temperatures

PACKING: These biscuit are then stacked and

fed into packing machine for packing Different packing material are available for packing of these biscuit in different packs slug packs, pouch pack or family packs etc. These packs are then put into secondary packaging like cartons to be transported to retailers.

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CHAIRMAN
Nusli N Wadia

CHIEF FINANCIAL OFFICER :

BANKERS :

MANAGING DIRECTOR :
Vinita Bali

DIRECTORS :
Keki Dadiseth Avijit Deb A K Hirjee Nimesh N Kampani S S Kelkar Vijay L Kelkar Nasser Munjee Ajai Puri Jeh N Wadia Ness N Wadia

Axis Bank Limited Bank of America N. A. Citibank N. A. Raju Thomas HDFC Bank Limited COMPANY ICICI Bank Limited SECRETARY : Indian Bank P Govindan Standard Chartered Bank State Bank of India AUDITORS : The Hong Kong and B S R & Co. Shanghai Banking Chartered Accountants Corporation Limited Maruthi Info-Tech Centre, 11-12/1, Inner Ring Road, The Royal Bank of Scotland N. V. Koramangala, Bangalore - 560 071.

Registered Office: 5/1A, Hungerford Street, Kolkata 700 017.

Executive Office: Britannia Gardens, Old Airport Road, Vimanapura, Bangalore - 560 017.

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VINITA BALI
Vinita Bali was appointed Managing Director on 31st May 2006. Vinita joined as Chief Executive Officer of the Company in January 2005. She received her Bachelor's Degree in Economics from LSR at the University of Delhi and her MBA at the Jamnalal Bajaj Institute of Management Studies at Bombay University. She pursued postgraduate studies in Business and Economics at Michigan State University on a scholarship from The Rotary Foundation, and was selected to work as a Graduate Intern at the United Nations headquarters in New York. She started her career with Voltas Ltd.-a Tata Group company focusing on consumer products, where she launched Rasna soft-drink concentrate. In 1980, Vinita joined Cadbury India, where she had a successful career in roles of increasing responsibility, not just in India, but also in the UK, Nigeria and South Africa. Vinita also served on the Boards of Cadbury Nigeria and Cadbury South Africa. The Coca-Cola Company chose her as its worldwide Marketing Director in 1994 where she was responsible for the worldwide strategy for Coke, and was one of the key players in doubling its historical growth rate. In 1997 she took over as Vice President of Marketing for Latin America, and in 1999 relocated to Chile as President of the Andean Division with sales in excess of USD 1 Billion. In 2001, she was made a corporate officer of The Coca-Cola Company and appointed Vice President of Corporate Strategy reporting to the Chairman. After an eventful nine-year association with Coke, Vinita joined her mentor at Coke, Sergio Zyman at the Zyman Group in July 2003 as a Managing Principal and Head of the Business Strategy practice in the company's Atlanta office. As a member of the company's Board of Managers, Vinita shared responsibility for developing and managing Zyman Group's consulting business.

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NEERAJ CHANDRA
Neeraj Chandra, has been designated as Vice President and Chief Operating Officer, with effect from 1st October 2008. He will have the Research & Development Function reporting to him, in addition to Sales & Marketing. Neeraj Chandra joined Britannia in July 2005 as Vice President Marketing, Sales and Innovation, responsible for orchestrating the revenue side of the business. He graduated as an Electrical Engineer from IIT Kanpur followed by an MBA from IIM Ahmedabad, he first joined Hindustan Lever and handled diverse assignments in Sales and Marketing, in a career spanning two decades and progressing rapidly from Management Trainee to Vice President. Neeraj has rich and varied experience in Sales and Marketing from India and around the world. In Hindustan Lever he worked on building several power brands like Pond's, Fair and Lovely, Lux, Lifebuoy and Clinic. His regional assignments have provided valuable exposure to the Middle East and the competitive markets of China and the Far East.

RAJU THOMAS
Raju Thomas has taken over as the Chief Financial Officer, with effect from 3rd November 2008. Raju also looks after the Purchase function. Raju comes with extensive experience in Hindustan Unilever. During his 27 years with the Company he handled several financial and commercial roles in the Home and Personal Care, Foods and Animal Feeds businesses. In addition he handled several corporate roles like statutory and management accounting, factory and branch accounting and internal audit. He has had cross functional exposure in H.R., specifically in the remuneration area. He has also worked in the Unilever Head Office in UK for 3 years. His last assignment was as V. P. Finance in Hindustan Unilever.

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ATUL SINHA
Atul Sinha joined Britannia on 2nd July 2007 as Vice President New Business Development. In this role he will lead Britannia initiatives in identifying and developing new product-market segments outside the current lines of business, as Britannia progresses towards becoming the fastest growing and best food brand in the country. His last assignment was that of Vice President - Marketing and Sales with Agro Tech Foods Limited where he was associated with the successful launch of Sundrop Heart. He also put in place a sales strategy to exploit the growing Modern Trade. Prior to that, as Associate Director for Oral Care marketing with Colgate Palmolive Ltd, he revived the growth of Colgate with the relaunch of Colgate Dental Cream and other new products. He was also Head of Sales with Reckitt Benckiser. A graduate of Shri Ram College of Commerce with an MBA from XLRI, Atul started his career as a Management Trainee in Voltas.

VINAY SINGH KUSHWAHA

Vinay Singh Kushwaha joined Britannia in August, 2010 and was appointed Vice President - Supply Chain effective 1st August. In his current role, Vinay is responsible for manufacturing, projects and technology, planning & replenishment. Since 1st Feb, 2011 he has assumed the additional responsibility of Quality Assurance. He completed a B. Tech degree in mechanical engineering from IIT Delhi and joined Hindustan Lever in 1986 as a management trainee. In his career of 22 years with Hindustan Lever, he did a variety of technical and supply chain roles and in different businesses and rose rapidly to the position of a Vice President.. He worked in the North African business of Unilever as a Supply Chain Director for 3 years and as a Regional Vice president for Skin care category for Asia. He was part of the Unilever's Singapore based Supply Chain Leadership team for Asia. Vinay joins us from Dabur India where he was Executive Director-Operations responsible for India and global operations of the Company.

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SREEKANTH ARIMANITHAYA
Sreekanth K. Arimanithaya joined us on 1st February 2011 as Vice President & Chief of Human Resources. He is also in charge of Information Technology. Sreekanth is a passionate HR professional, with a diversity of experience across industries, geographies and roles, having worked with TVS Motors, Phillips, General Electric and Toyota. He joined us from CA Technologies (formerly Computer Associates) where he last served as Senior Vice-President - Global HR Operations & HR Business Partner based in the USA. Sreekanth is qualified in TQM and Six Sigma and is passionate about the comprehensive role that HR can and must play in delivering business results.

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Company Environment
Britannia was incorporated in 1918 as Britannia Biscuits Co LTD in Calcutta. In 1924, Pea Frean UK acquired a controlling stake, which later passed on to the Associated Biscuits International (ABI) an UK based company. During the 50s and 60s, Britannia expanded operations to Mumbai, Delhi and Chennai. In 1989, J M Pillai, a Singapore based NRI businessman along with the Groupe Danone acquired Asian operations of Nabisco, thus acquiring controlling stake in Britannia. Later, Groupe Danone and Nusli Wadia took over Pillais holdings.

BRITANNIAS PLANT LOCATION

Britannia's plants are located in the 4 major metro cities Kolkatta, Mumbai, Delhi, and Chennai. A large part of products are also outsourced from third party producers. Dairy products are outsourced from three producers Dynamic Dairy based in Baramati, Maharashtra, and Modern Dairy at Karnal in Haryana and Thacker Dairy Products at Howrah in West Bengal. Britannia had spent 0.1 million US$ to hire Paris based designer Shombit Sen Gupta to create a logo and packaging design.

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The logo had three objectives: Give consumer reassurance that it was a trusted and familiar brand. Britannia has the ability to change. It had to be appropriate to the business the company was in. The logo consists of the companys name and slogan, Eat Healthy Think Better. The Hindi rendition is Swastha Khao, Tan Man Jagao. The corporate statement Eat Healthy Think Better captures the Indian concept of the unity of mind and body.The logo has three colours red, white, and green each having its own significance. Colour Red denotes Energy and Vitality. White denotes purity. Green stands for Nutrition and Freshness. The strike communicates Innovation and Futuristic Power of Britannia.

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Today, Britannia is the largest biscuit and bakery company in the country with the daily sales turnover of over Rs. 8478 million. It is the market leader in the 1.3-million tonne Indian biscuits industry with a 60% share. It has maintained market leadership with a 48% value market share in the organized sector.

The company today has a wide range of bakery products in the biscuit, bread and cake segment. It has trimmed down its wide product portfolio by reducing the products from 35 to around 25 and began to focus on value-added instead of low-margin products

Britannia core businesses constitute of Bakery and Dairy products. Bakery products account for 90% of the revenues and include Biscuits, Bread and Cake & Rusk. Dairy products contribute to 10% of Britannias annual turnover of Rs 13.38bn. Throughout its existence, Britannia has operated on the principles of providing products to the consumers that are healthy and tasty. This is brought about by the use of high quality ingredients with a strong focus on naturalness and modern manufacturing practices.

The portfolio was expanded with the launch of butter, pure flavored milk in tetra packs and UHT milk. Britannia has built an enviable retail distribution network, which services 400,000 retail outlets in 2,200 towns with the help of 2,500 distributors. The company is BIL (Britannia Industries Ltd.) aggressively expanding its has decided to focus on seven core network with a bias towards the brands in the biscuits and bakery rural markets Recently, in the category. The brands included ethnic food segment; the Good Day, Tiger, 50-50, Snacks, company introduced a new and the Cream Treat brands, range of traditional namkeens among others. in Mumbai called Britannia Snacks. The new range includes With the launch of Tiger brand, seven varieties of traditional it has taken a plunge in the low end namkeens like 'Bikaner ki category, taking competition head Bhujia' and 'Rajasthani Alu on with Parle, which is the leader Bhujia' in a price range of in this segment. The company has between Rs 5 and Rs20. The also diversified within dairy and company is in the process of bakery products to enter the setting up a Greenfield Biscuit butter, cheese and ghee markets. Project in Uttaranchal to augment its production capacity, entailing an investment of about Rs 55.2 crore. This plant will have capacity to produce over 45,000 tonnes of two or three varieties of biscuit perannum. So after over seven decades of being inseparable part of life in India, Britannia is now set to usher its customers into a healthier and tastier future.

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Bakers Pride Al Sallan Food Industries Co is one of the foremost companies for the production of cookies, rolls and chocolates. The products are wellknown under the brand name of Baker's Pride .

Vision To dominate the food and beverage market in India with a distinctive range of Tasty Yet Healthy Britannia brands.

Mission To dominate the food and beverage market in India through a profitable range of Tasty Yet Healthy products by making everyIndian a Britannia consumer.

Short-term Objective To improve image to shareholders. To improve internal processes and controls. To increase NSV and ROI.

Long-term Objective To be the lowest-cost producer in the market. To become largest volume player in the bakery industry.

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Nowadays, the company is also practicing direct dispatch system

Quality Standards Each year Company re-visits its quality standards and makes them more stringent. Companys Rudrapur Unit (Biscuits) and one of its Contract Packers, Sunandram Foods Private Limited at Guwahati (Cakes) have been awarded the Performance Excellence Trophy in Manufacturing by The Indian Merchant Chambers and Ramkrishna Bajaj National Quality Awards Committee which includes a Crystal Trophy, a certificate and a Citation. The requirements for this award are based on the Malcolm Baldridge model of the US. It is Companys endeavor to deliver excellence in quality and there are specific programs in place to pervasively drive this quality culture. To strengthen the Companys capability for exports to EU, its Contract Packer, M/s. Uttam Foods at Khopoli (Maharashtra) has been certified for BRC(British Retail Consortium) Standards. Quality Policy : Customer Satisfaction Total quality management Continuous upgradation of technology Improvement in processes Focus to meet emerging needs of the customers Mutually dependent lasting relationship with copackers, associates and suppliers. Environment responsibility Development of human resources Improving skills and knowledge Generating motivation to excel Installing a sense of pride Commitment towards quality Quality Objectives : Reduction in customer complaints To start documentation of market returns dealer wise To empower the workmen on individual work area to ensure that only quality product are passed on the next page of production. Continuous training for the development of human resources. To minimize the accident level. As part of the growth strategy, the company always try to build on the values of brand "Britannia" by aggressively pursuing tasty yet healthy offerings of mass appeal and also launching a host of affordable products, which would help rejuvenate the mother brand and drive category consumption.

Basic Strategies : New product development New market development Production Center Depots Authorized Wholesalers Retailers Production Center Authorized Wholesalers Retailers Outdoor promotion Rural thrust Cost management

Manufacturing operations Britannia company has revised its manufacturing footprint to support profitable growth. In that context, capacities were created at relevant locations to meet demand. Additionally, there was the continual focus on de-bottle necking existing capacities and improving the productivity levels at current units. The creation of these capacities and capabilities has helped the Company deliver the volume growth at improved customer service levels and lower costs.

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MANAGEMENT DISCUSSION AND ANALYSIS

A) INDUSTRY STRUCTURE AND DEVELOPMENT
Biscuits constitute the largest, branded and packaged category within food, with a healthy growth momentum. Among the total universe of food in India valued at 11,000 Bn in 2010-11 and expected to grow to 13,200 Bn by 2015, the share of branded and packaged food is 990 Bn. Biscuits form 124 Bn of this. In other words, the biscuit category dominates branded food and has grown at a CAGR of 14-16% in the last five years. The biscuit market recorded double digit growth this year as well and this is likely to sustain in the coming year even though volatile commodity prices may impact margins. Growth has been driven by variety products like cookies and creams getting more affordable as well as the value perception of biscuits improving vis-a-vis other categories. Upgradation of the mass market to better varieties, albeit at accessible prices and price-points as well as the emergence of higher value niches, anchored on superior differentiation will be the leading growth vectors. Company is well positioned to participate in this growth. Competition in biscuits is expected to intensify as more players both local and Multinational - enter the market supported by significant brand investment. Britannia company builds its business strategy taking into account the opportunities for growth, within the competitive and cost scenario.

B) BUSINESS STRATEGY
Britannia Companys key priorities continue to be to drive revenue through brand relevance and differentiation and to enhance profitability through cost competitiveness. This includes strengthening current brands through product design, delivery and mix and introducing new differentiated higher margin products. To drive this harder, the focus on understanding consumers and meeting their needs will be enhanced to create and sustain higher levels of purchase and consumption. Nutrition efforts will be further strengthened by offering more value to consumers through healthy options at affordable price points as well as through focusing on other relevant consumer benefits. Britannia Company will continue to focus on market place execution to drive higher sales at point of purchase, synergising all levers including distribution, trade marketing, market activation and advertising. Britannia will continue to build the edge in trade channels through width and depth of reach, service quality and customer insight, and create best in class customer and people engagement practices for sustained, superlative delivery. Britannia Company is working at new programs that will deliver retail excellence and synergies across the product lines at the front end. Britannia Company has implemented several initiatives in all areas of operations to create an efficient and robust supply chain. These will be reinforced further by integrating manufacturing and logistics and industrializing the set of manufacturing practices and technologies the Company has built to date.

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SINESS
Dairy products
Dairy products contribute close to 10 per cent to Britannia's revenue. Britannia trades and markets dairy products and its dairy portfolio grew to 47% in 2000-01 and by 30% in 2001-02. Britannia holds an equity stake in Dynamix Dairy and outsources the bulk of its dairy products from its associate. Its main competitors are Nestl India, the National Dairy Development Board, and Amul.

Joint venture with New Zealand Dairy

On 27 October 2001, Britannia announced a joint venture with Fonterra Co-operative Group of New Zealand, an integrated dairy company from procurement of milk to making value-added products such as cheese and buttermilk. Britannia planned to source most of the products from New Zealand, which they would market in India. The joint venture will allow technology transfer to Britannia. Britannia and New Zealand Dairy each holding 49% of the JV, and the remaining 2 per cent held by a strategic investor. Britannia has also tentatively announced that its dairy business would be transferred and run by the joint venture. The authorities' approval to the joint venture obliged the company to start manufacturing facilities of its own. It would not be allowed to trade, except at the wholesale level, thus pitching it in competition with DANONE, which had recently established its own dairy business.

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Biscuits
The company's factories have an annual capacity of 433,000 tones. The brand names of biscuits include Vita Marie Gold, Tiger, NutriChoice Junior, Good day, 50 50, Treat, Pure Magic, Milk Bikis, Good Day, Bourbon, Thin Arrowroot, Nice, Little Hearts and many more. Tiger, the mass market brand, realised $150.75 million in sales including exports to countries including the U.S. and Australia, or 20% of Britannia revenues in 2006. The company alleged that DANONE has violated its intellectual property rights in the Tiger brand by registering and using Tiger in several countries in 2006 without the consent of the Britannia Board. Managing Director Vinita Bali claims the company found out in 2004 DANONE launched the Tiger brand in Indonesia in 1998 and later in Malaysia, Singapore, Pakistan and Egypt when it attempted to register the Tiger trademark in some of these countries. Whilst it was initially reported in December 2006 that agreement had been reached, it was reported in September 2007 that a solution remained elusive. In the meantime since DANONEs biscuit business has been taken over by Kraft, the Tiger brand of biscuits in Malaysia has been renamed Kraft Tiger Biscuits beginning September 2008. Britannia initiated legal action against DANONE in Singapore in September 2007. The dispute was resolved with DANONE paying Rs 220 million to utilize the brand, and Britannia securing legitimate right to use the Tiger brand worldwide.

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BRITANNIA OVERSEAS
Britannia in the Middle-East
Britannia Industries Limited formed a Joint Venture with the Khimji Ramdas Group, one of the largest and the most respected business conglomerates in the Middle East. Britannia and its Associates have acquired a significant stake in Dubai based Strategic Food International Co. LLC and Oman based Al Sallan Food Industries Co SAOG. The two companies are key regional players inthe biscuits, wafers and cookies segment in the GCC markets and export their products across the world. Strategic Food International Co. LLC (SFIC) is one of the largest biscuit and wafer manufacturing companies in the Middle East. AnISO and HACCP certified company, SFIC is also a proud winner of the Dubai Quality Appreciation Certificate. It offers a wide spectrum of products under the brand Nutro, which is a leading biscuit brand in the Middle East.

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Global Partners
The Wadia Group of India along with Groupe Danone of France are equal shareholders in ABIL, UK which is a major shareholder in Britannia Industries Limited. GROUPE DANONE is an International FMCG Major specializing in Fresh Dairy Products, Bottled Water and Biscuits/Cereals. One of the World leaders in the food industry, these are some of the laurels it possesses: No # 1 worldwide in Fresh Dairy Products No # 1 worldwide equally placed in Bottled Water (by volume) No # 2 worldwide in Biscuits and Cereal Products Through its three core businesses (Fresh Dairy Products, Beveragesand Biscuits and Cereal Products), GROUPE DANONE is committed to improving the lives of people around the world by providing them with better food products, a wider variety of flavors and healthier pleasures. Its dominant position worldwide is based on major international brands and on its solid presence in local markets (about70% of global sales come from brands that are local market leaders).

GROUPE DANONE is recognized for the dynamism and strength of its brands: Danone is the leading brand worldwide for Fresh Dairy Products; Danone represents almost 20% of the international market. Danone is present in 40 countries worldwide. Evian: the bestselling mineral water brand, with 1.5 billion bottles sold every year. Present in the 5 continents, in 125 countries. LU: the second brand worldwide, the first biscuits brand of GROUPE DANONE, which represents almost the half of the sales for the Biscuits and Cereal Products division. LU is mainly present in Western Europe. Wahaha: the leading brand for refreshing still water (water, readymade tea, fruit juices). The brand is one of the most popular in China, with more than 1.5 billion litres of water sold each year. Its name means "the child who laughs".

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Subsidiaries and Associates

Britannia Company Directors present here with a broad overview of the operations and financials of Subsidiaries and Associates of Company. Britannia Dairy Private Limited (BDPL) During the current year, the Company operated in a highly inflationary environment and faced huge cost pressures owing to the surging price of milk which increased by around 17% compared to the previous year. In spite of this the business grew profitably by focusing on its value added portfolio like cheese and registered a turnover of 2,185 MM compared to 1,888 MM in the previous year - a growth of 16%. The business recorded a net profit of 42 MM (after considering an amortization charge of 130 MM) compared to a net loss of 344 MM (including an amortization charge of 498 MM) in the previous year. Company managed this by aggressively controlling costs and improving realization for its products in a very competitive market. With more value-added products in the pipeline, Companys dairy vision continues to be anchored in building differentiation by giving delightful consumer experiences. The plan is to accelerate profitable growth by augmenting and leveraging sales and distribution and accessing new geographies. Daily Bread Gourmet Foods (India) Private Limited(Daily Bread) Daily Bread is a manufacturer and retailer of premium, gourmet bakery products, including specialty breads, cakes and cookies which it sells to institutional, modern trade and retail segments.In 2010-11 Daily Bread expanded its retail and franchisee operations in Bangalore and Hyderabad. Daily Bread has achieved a turnover of 192 MMduring the year as against 147 MM in the previous Britannia Annual Report 2010-11 year registering a growth of over 31%. Daily Bread has made significant improvement in its operations to achieve cash break-even for the year, compared to cash loss of 37 MM in previous year.

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Strategic Food International Company LLC, Dubai

Despite the challenging global economic scenario and a real population decline in Dubai, UAE where the Company has a sizeable presence, the Company increased sales by 12% to AED 110.8 MM (1,343MM) for the year ended 31 March 2011 as against the previous years levels AED 99.3 MM (1,280 MM). For the year ended 31 March 2011, SFIC posted a net loss of AED 10.8 MM (131 MM), compared to a net loss of AED 14.4 MM ( 185 MM) for the previous year. A new CEO was recruited in September 2010 to lead the business to the next level. During the year, the Company increased its market share in the GCC region and made significant brand investments. These initiatives have strengthened the Companys competitive position, with share gains in all markets in the GCC where the Company operates.

The recent upheaval in North Africa has affected business in markets such as Libya but the Company is confident that this will be made up in other markets. Al Sallan Food Industries Company SAOC (ASFI) Sales for the year ended 31 March 2011 were recorded at Omani Rials (OMR) 7.52 MM (869 MM) as against OMR 7.56 MM (924 MM) for the year ended 31 March 2010. Unrest in Sohar led to loss of production in February and March 2011.The Company for the first time since its inception recorded a net profit of OMR 0.15 MM ( 18 MM) for the year ended 31 March 2011 compared to anet loss of OMR 0.68 MM ( 83 MM) in previous year, after considering an interest waiver from the National Bank of Oman of OMR 0.63 MM ( 74 MM) following the early settlement of the outstanding loan. Profitability was adversely affected owing to increase in commodity prices and lower sales due to the challenging global economic scenario.

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Britannia and Associates (Mauritius) Private Limited

BAMPL, a Company formed in Mauritius wholly owned subsidiary of the Company, is the company of Britannia and Associates (Dubai) Limited, a Jebel Ali Free Zone Company, which in investments in Strategic Food International Co. and Al Sallan Food Industries Company SAOC, combined revenue and loss of holding companies period ended 31 March 2011 were USD 0.35 MM MM) and USD 0.45 MM (20.23 MM) respectively. and a holding Private Co. turn holds LLC, Dubai Oman. The for the (16.02

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Investors Overview
For the year ended 31st March 2008, the Company achieved a sales growth of 17.5% on an expanded base arising from 27.5% growth in the previous year. Net Profit of the Company increased 77.5 % to Rs 1,910 Mn compared with Rs 1,076 Mn in 2006-07. Operating Margin increased by 307 basis points to 7.5%. The Company witnessed all round growth in key categories with Biscuits recording sales of Rs. 23,299 Mn. Bread, Cake and Rusk business crossed the Rs. 2,700 Mn mark during 2007-08. This business has doubled in two years.

In an intensely competitive biscuit environment, all Power Brands of the Company recorded double digit growth, with Tiger and Good Day growing in excess of 20%. The Companys innovation forays have successfully addressed new benefit clusters and NutriChoice Digestive has claimed its position in the health and vitality space. The Company continues to maintain its leadership edge in 6 out of 7 key product segments, the only exception being Glucose. The Company introduced several new and renovated offerings in Tiger, Good Day, Treat and Marie Gold. The health and nutrition platform was buttressed by Tiger Banana with iron-zor, fortified Milk Bikis, renovated Marie Gold and NutriChoice Digestive. To tap the more indulgent consumers, Company launched Good Day Classic Cookies, while continuing to roll out individual consumption packs at the highly affordable Rs. 5 price point.

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The Bread, Cake and Rusk portfolio was strengthened with the successful prelaunch of Breads, fortified with vitamins and minerals, positioning them firmly as the healthy start to your day. This innovation combined with relevant consumer activation in key markets has seen a 30%+ growth in the Bread, Cake and Rusk business. As a Corporate, Britannia worked for the benefit of all stakeholders - shareholders, consumers, dealers, suppliers, bankers and employees. It has established an excellent track record in terms of its financial performance and dividends distributed to its shareholders. This has been adequately demonstrated with the Company's top line growing from Rs 10,301 Mn in 1999 to Rs 26,176 Mn in 2008, a growth of 154% over the last 10 years. The net profit grew even more significantly at 382% from Rs 396 Mn in 1998-99 to Rs 1,910 Mn in 2007-08, giving a CAGR of 19.1%. As at 31st March 2008, the issued and paid up capital of Britannia amounts to 23, 890,163 equity shares having a nominal value of Rs 10 each. The shareholder base is about 25,300 in number.

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Ownership and relationship between major shareholders

The Wadias' Kalabakan Investments and Groupe Danone have two equal joint venture companies, Wadia BSN and UK registered Associated Biscuits International Holdings Ltd., which together hold 51 per cent stake in Britannia the ABIH tranche was acquired in 1992, while the controlling stake held by Wadia BSN was acquired in 1995. It was agreed that, in case of a deadlock between the partners, Danone is obliged to buy the Wadia BSN stake at a "fair market value". ABIH which has a separate agreement signed in 1992 and is subject to the British law. Wadia was to be Danone's partner in the food and dairy business, and product launches from Groupe Danones were expected but never materialized despite the JV being in existence for over 11 years in India. Under the 1995 joint venture agreement, Danone is prohibited from launching food brands within India without the consent of the Wadias. In addition, the partners agreed there would be the right of first refusal to buy out the remaining partner in the event of the other wishing to sell its holding. In May 2007, Nusli Wadia told the Ministry of Commerce and Industry that Danone invested in a Bangalorebased bio nutrition company, Avesthagen, in October 2006 in violation of the government's Press Note 1, 2005, which requires a foreign company to obtain the consent of its Indian joint venture partner before pursuing an independent business in a similar area, including joint ventures based purely on technical collaboration. Danone argued that Press Note 1 did not apply to it as it did not have a formal technology transfer or trademark agreement with Avesthagen, and that its 25 pct holding in Britannia was indirect. Wadia also filed a case in the Bombay High Court for a breach of a non-compete clause in that connection. The court ordered Danone not to alienate, encumber or sell shares of Avestagen. In September 2007, the Foreign Investment Promotion Board of India rejected Danone's claims that it does not need a non-compete waiver from the Wadias to enter into business in India alone. In June 2006, Wadia claimed Danone had used the Tiger brand to launch biscuits in Bangalore. After a prolonged legal battle, Danone agreed to sell its stake in Britannia and get out of this line of business. Danone will sell its 25.48% stake to Leila Lands, which is a Wadia group entity based in Mauritius. The deal is valued to be at $175200 m. With this buy-out, Wadia's will hold a majority stake of 50.96%.

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TEN YEAR FINANCIAL STATISTICS : 2001 - 2010 Rs. million As at / Year ended 31st March Assets employed Fixed assets less Depreciation & Amortisation 1,588 1,632 1,481 1,283 1,338 1,516 2,144 2,507 2,839 2,931 Investments Net current assets Miscellaneous expenditure 2,156 3,104 2,969 2,913 3,301 3,599 3,200 3,808 4,231 4,906 257 163 592 217 747 260 43 463 (485) 309 342 161 596 256 2,072 1,161 421 232 266 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

4,164 5,545 5,457 4,702 4,496 5,585 6,196 8,619 8,497 8,258 Financed by Equity shares Reserves & Surplus Loan funds 279 269 259 239 239 239 239 239 239 239

2,123 3,430 3,653 4,059 4,196 5,252 5,909 7,319 8,006 3,723 1,762 1,846 1,545 392 61 94 48 1,061 252 4,296

4,164 5,545 5,457 4,702 4,496 5,585 6,196 8,619 8,497 8,258 Profits and appropriations Sales Profit before Depreciation, Amortisation and Tax Depreciation and Amortisation Profit before tax and Exceptional items Exceptional items Profit before tax * Taxation Profit after tax Dividends Tax on dividend Debenture Redemption Reserve Retained earnings 13,325 14,510 13,941 14,705 16,154 18,179 23,171 26,170 31,429 34,246 1,369 1,630 1,722 2,251 2,645 2,218 1,514 2,536 2,866 2,112 189 240 261 224 190 217 253 291 335 275

1,180 1,390 1,461 2,027 2,455 2,001 1,261 2,245 2,531 1,737 (41) 1,201 12 (183) (252) 6 (77) 78 (206) (529)

1,139 2,591 1,473 1,844 2,203 2,007 1,184 2,323 2,325 1,208 434 705 153 16 47 489 559 482 656 715 543 108 413 521 43

2,032 991 201 14 251 32 18

1,188 1,488 1,464 1,076 1,910 1,804 1,165 272 35 910 334 47 358 50 358 61 430 73 956 162 597 99 469

1,564 692

1,117 1,056 657

1,407 686

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Hunger for Expansion

The new positioning is also intended to strengthen the mother brand itself. With the introduction of the "Eat Healthy, Think Better" campaign in 1997, Britannia focused on building its individual brands, such as Tiger glucose biscuits, Good Day cookies and Treat cream biscuits. That was fine, as biscuits accounted for the bulk of the company's revenues. (For the year ended March 2008, biscuits brought in about 90% of Britannia's net sales of $650 million.) But now Britannia wants to broaden its menu. In addition to growing its core biscuit business, it wants to significantly expand its small businesses including dairy, bread, cake and rusk (known as zwieback in the U.S.). The dairy business, which Britannia entered in 1997 and spun off as a joint venture with New Zealand's Fonterra Group in 2002, has revenues of barely $36 million and has yet to become profitable. Britannia has dabbled with bread and cake for more than two decades and entered the rusk market a few years ago. These three businesses together take in just $68 million. More important, Britannia looks to explore other opportunities within the growing food space. According to a November 2008 report by the Federation of Indian Chambers of Commerce and Industry and management consulting firm Technopak Advisors, the Indian food industry is estimated to have been at $200 billion in 2006- 07 and is expected to grow to $300 billion by 2015. The report considers the food industry to include fruits and vegetables, dairy products, marine and fish, meat and poultry, breads and bakery, confectionary and packaged foods, and alcoholic and non-alcoholic beverages. "Our vision is to become a larger player in the food space, and as we get into newer products and newer categories, their strength will be derived from the Britannia mother brand," says Durgesh Mehta, who was Britannia's chief financial officer when he was interviewed for this article. He has since moved on to become CFO of Bombay Dyeing, which, like Britannia, is a Wadia Group company. What new areas might Britannia enter? Company officials aren't saying, though speculation includes breakfast items and ready-to-cook and ready-to-eat products. Bali says that Britannia will not look at staples such as rice, wheat flour and sugar. "We will pursue profitable growth opportunities where we can create propositions that are relevant and differentiated from a consumer point of view," she notes. Adds Neeraj Chandra, Britannia's vice president and chief operating officer: "We are looking at categories that gel with our principles of enjoyable and healthy food. We want to participate in as many consumption moments as possible in the food space through both leveraging our current products better and through different kinds of products."

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Industry players and analysts see Britannia's move as both smart and inevitable. "Britannia certainly has the capability to be a larger player in food," says Harish Bijoor, chief executive officer of Harish Bijoor Consults and a visiting professor at the Hyderabad-based Indian School of Business. "The brand equity of Britannia can be as elastic or as inelastic as its vision is for the Indian market." Nikhil Sen, who was with Britannia for more than 25 years, including a brief stint as chief operating officer, adds: "Redefining its boundaries to become a larger player in food is a great strategy for Britannia, and it certainly has the capability to do so." Sen is currently managing director of Unibic Biscuits India, the Indian arm of the Australian biscuit company. Both Sen and Bijoor add a note of caution. "Britannia has been very good at developing its current business, but it has not come out with any innovations in recent years," Sen says. "There has not been a single new product in the past few years which has been pioneering for the category. There has been no new energy, no 'wow' factor. Britannia needs to innovate." Adds Bijoor: "Dairy and biscuits is still a wide-open arena, and there is [a lot of growth] in this space itself. Britannia is in an enviable position to leverage [these] opportunities, but it needs to be far more aggressive." Bijoor is also not convinced about Britannia's positioning as health-cum-enjoyment: According to his research, taste and health are mutually exclusive in the Indian context. B. P. Agarwal, managing director of Surya Food & Agro, which makes the Priya Gold regional brand of biscuits, says that while Britannia undoubtedly remains a market leader, much of its strength is derived from past glory and its strong consumer equity. "The new products that Britannia has been introducing in recent times have been more by way of tweaking the existing portfolio. It has been launchi

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Turmoil
Any lack of innovation -- and Britannia insists that it is constantly innovating can be traced to the company's internal turmoil a few years ago. Sunil Alagh, who led Britannia as managing director and chief executive officer for more than 10 years, was fired in 2003 amid allegations of financial mismanagement. A number of senior executives also left. Sen was given the reins, and then in January 2005 Bali was brought in. She put an almost entirely new management team in place. The last few years have also been marked by battles between Britannia's two major stakeholders, the Wadia Group and French Group Danone, over issues including alleged infringement by Danone of Britannia's Tiger brand. With Danone having sold its biscuits business to U.S.-based Kraft Foods last year, it is expected to exit from Britannia. Even as Britannia was caught up in its internal crisis, the external landscape was fast changing. For a long time, only Parle Products was a strong competitor to Britanniain the national biscuit market. Other competitors were small regional players. While Parle focused primarily on the lowend glucose biscuit segment -- its Parle G brand isone of the world's best-selling biscuits -- Britannia focused on the premium segment. With nearly equal shares of a total greater than 80% of market value, they coexisted peacefully. In 2003, however, tobacco giant ITC entered their turf as part of its diversification strategy. Using its financial muscle -- ITC's 2007-08 revenues were $5.5 billion and massive distribution network, it quickly succeeded in emerging as a strong third player. While privately held Parle claims that it has a 40% market share, market research firm AC Nielsen says Britannia and Parle both have around 33% of the market, while ITC has close to 9%. "Britannia's story is one of change of management and change of management styles," says Bijoor. "In the bargain, what suffered was the back-end research and development and the potential for massive growth at a time when India's economy was booming. Britannia was also completely unprepared internally for the irrational competition from ITC." Bijoor adds that it is only now, with Bali at the helm for the last four years, that a certain amount of stability has taken hold and that Britannia's momentum is building again. Praveen Kulkarni, general manager of marketing for Parle Products, agrees. Britannia is definitely getting more aggressive in the market and seems to be getting back into the game now." Britannia's financials bear this out. In the last two years, Britannia has been among the three fastest-growing fast-moving consumable goods (FMCG) companies in India. In the second quarter of this fiscal year, Britannia topped the list with 27.3% growth.

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Unique features of Britannians:

Britannians are extraordinary individuals who are passionate about everything they do create inspiration through everything they do and succeed in everything they do youre probably right. Britannians are hand-picked for a singular purpose to perpetually ensure Market Leadership and generate exemplary performance in every function. Britannians exhibit the following leadership behaviors (we fondly call BULBs Britannia Universal Leadership Behaviors) : Integrity Team Orientation People Development Learning Orientation Customer Orientation Quality Orientation Drive for Results Entrepreneurial Spirit System and Process Orientation Communication

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Information Technology
Company continues to invest in Information Technology to improve operational efficiencies and enhance productivity. During the year a business intelligence system was implemented to enable effective analysis of secondary sales information to drive top line growth by identifying new opportunities. A project has also been initiated to connect the contract manufacturing units and depots to the Companys data centre in Bangalore through a more efficient network to ensure faster response to IT systems. During the year, Company also consolidated its core ERP infrastructure using new generation servers leading to significant reductions in energy/ power consumption and enhanced efficiencies.

Growth and Profitability

The company is growing at a steady rate, and is currently profitable. Between 1998 and 2001, the company's sales grew at a compound annual rate of 16% against the market, and operating profits reached 18%. More recently, the company has been growing at 27% a year, compared to the industry's growth rate of 20%. At present, 90% of Britannias annual revenue of Rs 2,200 crore comes from biscuits.

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The Origin of EAT HEALTHY THINK BETTER

Britannia -the 'biscuit' leader with a history-has withstood the tests of time. Part of the reason for its success has been its ability to resonate with the changes in consumer needs-needs that have varied significantly across its 100+ year epoch. With consumer democracy reaching new levels, the one common thread to emerge in recent times has been the shift in lifestyles and a corresponding awareness of health. People are increasingly becoming conscious of dietary care and its correlation to wellness and matching the new pace to their lives with improved nutritional and dietary habits. This new awareness has seen consumers seeking foods that complement their lifestyles while offering convenience, variety and economy, over and above health and nutrition. Britannia saw the writing on the wall. Its "Swasth Khao Tan Man Jagao" (Eat Healthy, Think Better) reposition directly addressed this new trend by promising the new generation a healthy and nutritious alternative that was also delightful and tasty. Thus, the new logo was born, encapsulating the core essence of Britannia - healthy, nutritious, and optimistic - and combining it with a delightful product range to offer variety and choice to consumers.

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Company Review
The beginnings might have been humble-the dreams were anything but. By 1910, with the advent of electricity, Britannia mechanised its operations, and in 1921, it became the first company east of the Suez Canal to use imported gas ovens. Britannia's business was flourishing. But, more importantly, Britannia was acquiring a reputation for quality and value. As a result, during the tragic World War II, the Government reposed its trust in Britannia by contracting it to supply large quantities of "service biscuits" to the armed forces. As time moved on, the biscuit market continued to grow and Britannia grew along with it. In 1975, the Britannia Biscuit Company took over the distribution of biscuits from Parry's who till now distributed Britannia biscuits in India. In the subsequent public issue of 1978, Indian shareholding crossed 60%, firmly establishing the Indianans of the firm. The following year, Britannia Biscuit Company was re-christened Britannia Industries Limited (BIL). Four years later in 1983, it crossed the Rs. 100 crores revenue mark. On the operations front, the company was making equally dynamic strides. In 1992, it celebrated its Platinum Jubilee. In 1997, the company unveiled its new corporate identity "Eat Healthy, Think Better" and made its first foray into the dairy products market. In 1999, the "Britannia Khao, World Cup Jao" promotion further fortified the affinity consumers had with 'Brand Britannia'. Britannia strode into the 21st Century as one of India's biggest brands and the preeminent food brand of the country. It was equally recognised for its innovative approach to products and marketing: the Lagaan Match was voted India's most successful promotional activity of the year 2001 while the delicious Britannia 50-50 Maska-Chaska became India's most successful product launch. In 2002, Britannia's New Business Division formed a joint venture with Fonterra, the world's second largest Dairy Company, and Britannia New Zealand Foods Pvt. Ltd. was born. In recognition of its vision and accelerating graph, Forbes Global rated Britannia 'One amongst the Top 200 Small Companies of the World', and The Economic Times pegged Britannia India's 2nd Most Trusted Brand.

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Today, more than a century after those tentative first steps, Britannia's fairy tale is not only going strong but blazing new standards, and that miniscule initial investment has grown by leaps and bounds to crores of rupees in wealth for Britannia's shareholders. The company's offerings are spread across the spectrum with products ranging from the healthy and economical Tiger biscuits to the more lifestyle-oriented Milkman Cheese. Having succeeded in garnering the trust of almost onethird of India's one billion populations and a strong management at the helm means Britannia will continue to dream big on its path of innovation and quality. And millions of consumers will savour the results, happily ever after.

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Britannia Industries Limited Food its on the tip of everyones tongue, 24 x 7. And, so is Britannia. Every day gets off to a healthy-start with the fully loaded Britannia Marie, savoured with a steaming cup of tea. Its a great way to rejuvenate not just at dawn but all the way till dusk. It gets better with a breakfast spread of Britannia milk, cheese, butter and bread, dahi and parathas or simply Britannia NutriChoice. With over 50% of our products enriched with vitamins and minerals, Britannia ensures that breakfast, however quick, is nutritious. We understand that the fun of snacking lies in indulging mindlessly anytime, anywhere. Thats why weve mindfully eliminated trans fats from our portfolio and created sweet and salty snacks that are baked not fried. For mealtimes, lunch boxes are packed with carefree indulgence because at Britannia, we care for the well-being of the entire family. To make everything as healthy as it is tasty, is the inspiration behind everything we create. So that food is enjoyed the way it should be unconditionally.

Company Business Culture The reputation that Britannia has built over the years for high ethical standards is one of our greatest business assets. To share the responsibility to preserve and enhance this asset, the company has documented the Code of Business Culture (COBC) for its employees. This handbook covers the Code in detail. The COBC outlines the principles, policies and laws that govern the activities of the company, and to which employees of Britannia and others who work with, or represent Britannia directly or indirectly, must adhere. The Code is distributed to all employees and directors and others associated with the business of the Company, and offers guidance for professional conduct under six main headings, which include the following key points:
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1. Responsibilities of Employees of Britannia Maintaining ethical standards, including appropriate accounting controls; Identify, surface and resolve ethical issues with great speed; Corporate assets (physical and intellectual) must not be used for personal benefit; Exercise good judgment and standards of good taste when creating company records, including e-mail; Maintain company records accurately and retain them in accordance with law. 2. Workplace Responsibilities Being committed to fair employment practices; Being committed to a workplace free from drugs and any kind of harassment or intimidation of employees; Being committed to the safety of our employees; Being committed to discipline at workplace; Compliance with appropriate laws and internal regulations. 3. Representing Britannia to Customers and Other External Constituencies Treating customers, suppliers and competitors fairly; Maintaining high standards of quality; Speeches, media interviews, and other public appearances in connection with Britannia must first be approved internally; Preparing accounts accurately and maintaining records; Ensuring not to use unfair and misleading statements when marketing Britannia products and services; Accepting and giving gifts is not permitted, except as governed by the policy laid down herein. 4. Privacy / Confidentiality Protect proprietary and confidential information at all times in accordance with applicable law; Keep customer information secure at all times, as a sacred trust given to the company by our customers; Keep employees' information confidential. 5. Investments and Outside Activities Trading in the securities of Britannia or any other company while in possession of "inside" information is illegal; Avoiding real or perceived conflicts of interest in areas including investments or outside business activities, among others.

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Administration of the Code DISTRIBUTION All the directors of the company and employees will receive a copy of this Code at the time they join the company and will receive periodic updates. Also, any agent, consultant, government official or government employee who is retained by the company should receive this Code and understand the obligations under it. APPROVALS The appropriate Principal Managers must review and approve in writing any circumstance requiring special permission, as described in the Code. Copies of these approvals should be maintained by the company and made available to auditors or investigating authorities. Waivers of any provision of this Code must be approved by the Board of Directors or its designated committee. MONITORING COMPLIANCE Employees must take all responsible steps to prevent a Code violation. Employees should report suspected Code violations to their manager or higher level of management, or to the corporate Legal and Internal Audit Departments. In the case of potential criminal violations, employees should inform the Compliance Officer. INVESTIGATIONS The responsibility for administering the Code, investigating violations of the Code and determining corrective and disciplinary action rests jointly with the Chief Executive Officer, Chief Financial Officer and Compliance Officer, alongwith the Audit Committee of the Board of Directors. The Compliance Officer may, with the assistance of the company's Internal Audit and Legal Departments, conduct or manage investigations as deemed appropriate. They will work together with the employee's managers to recommend corrective and disciplinary actions for presentation to the Chief Executive Officer and the Chief Financial Officer. For more information on the procedures that generally will be followed in the case of potential Code violations, please refer to the Procedural Guidelines for the Code of Business Culture. If allegations involve criminal conduct, employees should seek guidance from the Compliance Officer before engaging in any inquiries. The Chief Financial Officer will report Code violations and the corrective actions taken to the Audit Committee of the Board of Directors. DISCIPLINARY ACTIONS The company strives to impose disciplinary action for each Code violation that fits the nature and particular facts of the violation. The company uses a system of progressive discipline. The company generally will issue warnings or letters of reprimand for less significant, first-time offenses. Violations of a more serious nature may result in suspension without pay, demotion, loss or reduction of bonus or option awards, or any combination thereof. Termination of employment generally is reserved for conduct such as theft or other violations amounting to a breach of trust, or for cases where a person has engaged in multiple violations. Violations of this Code are not the only basis for disciplinary action. The company has additional policies and procedures governing conduct.

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HANDBOOK 1 RESPONSIBILITY OF EMPLOYEES OF BRITANNIA 1.1 Standards of ethical behaviour Maintaining ethical standards, including appropriate internal controls and adherence to local laws and regulations, is the responsibility of every member of the Britannia family. Early identification and resolution of ethical issues that may arise are critical to maintaining our commitment to world-class business practices. All employees are expected to treat compliance with ethical standards as a critical element of their responsibilities. You should use your judgment and common sense; if something seems unethical or improper, it probably is. If you have any questions regarding the best course of action in a particular situation, or if you suspect a possible violation of a law, regulation or Britannia ethical standard, you should seek advice from the appropriate authority, which could be: Your immediate superior Regional Personnel Manager / Human Resource Manager Head of your function Compliance Officer Chief Financial Officer Chief Executive Officer Audit Committee Board of Directors 1.2 Protecting Corporate Assets Britannia's assets are to be used only for the legitimate business purposes of the Company and its subsidiaries, by authorized employees or their designees only. Assets include cash, securities, business plans, consumer information, customer information, product recipes, packaging standards, proprietary processes, quality standards, machinery designs, supplier information, distributor information, intellectual property (computer programs, models and other items), trademarks and copyrights, physical property and services. Company assets must not be used for personal benefit except where permitted by Britannia in line with Company policy. Misappropriation of corporate assets is a breach of your duty to Britannia and may constitute an act of fraud against the company. Similarly, carelessness or waste in regard to company assets is also a breach of your duty to Britannia. The company's telephone, internet, e-mail and voice-mail systems are primarily for business purposes and should not be used in a manner that might cause harm or embarrassment to the company. Britannia reserves the right to monitor and inspect, without notice, all electronic communications data and information transmitted on the network and electronic files located on company servers, personal computers owned by the company or computers on the premises used for company business. You must have permission from your Principal Manager, before you use or authorise the use of any company asset, including information, work product or trademark-outside of Company responsibilities.
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1.3 Accuracy of Company Records and Reporting Records, data and information owned, used and managed by Britannia must be accurate and complete and must be maintained in sufficient detail to reflect the company's transactions accurately. Financial statements must always be prepared in accordance with generally accepted accounting principles and fairly present, in all material respects, the financial condition and results of the company. You are personally responsible for the integrity of the information, reports and records under your control. You must use common sense and observe standards of good taste regarding content and language when creating business records and other documents (such as e-mail) that may be retained by Britannia or a third party. You should keep in mind that at a future date, Britannia or a third party may be in a position to rely on or interpret the document with the benefit of hindsight and/or the disadvantage of imperfect recollections. You are required to cooperate fully with appropriately authorized internal or external investigations. Making false statements to or otherwise misleading internal or external auditors, Britannia counsel, Britannia representatives or regulators can be a criminal act that can result in severe penalties. You must never withhold or fail to communicate information that raises ethical questions and thus should be brought to the attention of higher levels of management. Records should be retained strictly in accordance with the Company policies. You are prohibited from destroying any records that are potentially relevant to a violation of law or any litigation or any pending, threatened or foreseeable government investigation or proceeding. Britannia is also committed to accuracy in tax-related records, and to tax reporting in compliance with the overall intent and letter of applicable laws. Tax returns of the company must be filed on a timely basis and taxes due paid on time. 2 WORKPLACE RESPONSIBILITIES 2.1 Fair Employment Practices and Diversity Britannia believes that diversity in our staff is critical to our success as an organization, as we seek to recruit, develop and retain the most talented people from a diverse candidate pool. Advancement at Britannia is based on competencies and performance. We are committed to providing equal opportunities to all our employees and all qualified applicants for employment without regard to their race, caste, religion, colour, ancestry, martial status, sex, age and nationality. All employees and their immediate superiors, regardless of level, shall endeavor to meet the following objectives: Respect each employee, customers and their representative of suppliers and contractors as an individual, showing courtesy and consideration and fostering personal dignity. Encourage employees to voice their opinions freely about the policies and practices of the company by communicating and practicing Britannia policy; Keep colleagues and co-workers generally informed of the policies, plans and progress of the company through regular communications; Afford colleagues and co-workers a reasonable opportunity, consistent with the needs of the company, for training to become better skilled in their roles; Encourage promotion from within, consistent with the needs of the company, whenever qualified employees are available.
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Assure uniformly fair compensation and benefit practices that will attract, reward and retain quality employees. Our dealings with each other should be based on mutual trust and respect to one another and to the Company. Our focus is on a set of mutual objectives, which are the driving momentum behind our business. 2.2 Harassment and Intimidation Britannia's policy is to provide a workplace free from tensions involving matters that do not relate to the company's business. Harassment of employees, applicants, customers, contractors or suppliers by other employees will be a violation of company policy. Britannia prohibits any other kind of harassment or intimidation, whether committed by or against a supervisor, co-worker, customer, vendor or visitor. Harassment, whether based on a person's race, gender, color, creed, religion, national origin, citizenship, age, disability, marital status, sexual orientation, ancestry, veteran status or socioeconomic status, is repugnant and completely inconsistent with our tradition of providing a respectful, professional and dignified workplace. Harassment may be unlawful and is prohibited whether it occurs in the workplace, at customer or vendor sites, and includes: Verbal harassment Physical harassment Visual harassment (posters, cartoons, drawings) Coercing the subordinate to perform any activity which might harm the interest of the company. Discrimination against particular individual based on caste, community or gender. Threaten or blackmail. Any employee who feels threatened and harassed, must be in a position to communicate his/her feelings without fear to the immediate superior or the next higher level or the Regional Personnel Manager/Human Resource Manager. If you believe that you are being subjected to harassing behavior, or if you observe or receive a complaint regarding such behavior, you should report it to your supervisor or to your Regional Personnel Manager/Human Resource Manager. 2.3 Drug-Free Workplace To meet our responsibilities to employees, customers and investors, Britannia must maintain a healthy and productive work environment. Misusing controlled substances or selling, distributing, possessing, using or being under the influence of illegal drugs on the job is absolutely prohibited. 2.4 Safety in the Workplace Britannia shall strive to provide a safe and healthy working environment and comply, in the conduct of its business affairs, with all regulations regarding the preservation of the environment of the territory it operates in. Britannia shall be committed to prevent the wasteful use of natural resources and minimize any hazardous impact of the development, production, use and disposal of any of its products and services on the ecological environment. Hence, each of us must comply with all applicable health and safety policies. We maintain compliance with all local laws, and internal guidelines have been developed to help maintain secure and healthy work surroundings. Questions, if any, about these laws and guidelines should be directed to your supervisor/Regional Personnel Manager/Human Resource Manager.
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2.5 Maintaining Discipline at workplace Britannia endeavors to maintain the best of employment practices and envisages a mutual commitment between the company and employees towards effectively maintaining the same. Discipline, therefore, would include: Punctuality and respect for time Good housekeeping, cleanliness Limited personal telephones/e-mails during office hours Britannia also expects compliance to the following by all employees and directors while executing individual responsibilities: High level of service orientation Honoring commitments Meeting reporting timelines Respecting and understanding the requirement of jobs of other colleagues Doing the job without follow ups Transparency and openness Working collaboratively across geographies and functions Looking after employees' development needs Focusing on results Taking personal responsibility and ownership Intellectual integrity. 3 REPRESENTING BRITANNIA AND EXTERNAL CONSTITUENCIES 3.1 Fair Treatment Britannia is committed to dealing fairly with its consumers, customers, suppliers, competitors and employees. No person may take unfair advantage of anyone through manipulation, concealment, abuse of confidential information, misrepresentation of material facts or other unfair dealing practice. 3.2 Quality of Products & Services Britannia is committed to producing and marketing goods of the highest quality standards to ensure total consumer and customer satisfaction. The quality standards of the company's products should meet the highest standards, nationally and internationally, at all times. To consistently live up to the expectation of consumers, Britannia expects all its suppliers and other associates who are directly or indirectly related to business, to consistently deliver on quality. The Company would at no instance compromise on quality standards. Quality standards also apply to the services we provide to our distributors, customers, consumers and suppliers externally. There should be no compromise on our quality commitment for both internal and external customers.

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3.3 Media, Publishing and Public Appearances Any inquiry from the media relating to Britannia should be referred to the Compliance Officer, either through your local General Manager or directly to the Compliance Officer. Only officially designated spokespersons may provide comments for the media. No employee shall, in any radio / TV broadcast or in any document published in his / her own name or anonymously, pseudonymously or in the name of any other person or in any communication to the press or in any public utterance, make any statement of fact or opinion that will: Inflict an adverse criticism of any current or recent policy or action of the Management. Embarrass the relationship between the Management and employees. 3.4 Financial Reporting & Records Britannia shall prepare and maintain its accounts fairly and accurately in accordance with the accounting and financial reporting standards which represent the generally accepted guidelines, principles, standards, laws and regulations of the country in which the Company conducts its business affairs. Internal accounting and audit procedures shall fairly and accurately reflect all of the Company's business transactions and disposition of assets. All required information shall be accessible to company auditors and other authorized parties and government agencies. There shall be no willful omission of any company transactions from the books and records, no advance income recognition and no hidden bank account and funds. Any willful material misrepresentation of and/or misinformation on the financial accounts and reports shall be regarded as a violation of the Code apart from inviting appropriate civil or criminal action under the relevant laws. 3.5 Dealing with Third Parties In order to make the best use of company assets and deliver value to our shareholders, Britannia's policy is to purchase all goods and services on the basis of most competitive price, quality, availability, terms and service. Britannia prefers to deal with other Britannia businesses where possible: when required by regulatory authorities, such transactions and pricing must be consistent with arm'slength market terms. Suppliers and service providers must adhere to Britannia policies whenever appropriate and agree to keep any relationship with Britannia confidential unless otherwise approved by Britannia. All suppliers must comply with applicable non-discrimination laws. You should ensure the following while dealing with suppliers / vendors / contract packers: Company gets value for money without sacrificing quality / business ethics. Contracts are awarded solely on merit basis. Limited information dissemination across all third party layers. No personal favors/ advantages/ financial obligation are accepted. No sharing of company's proprietary / confidential information. Refuse any offer of premises to be arranged by the third party for personal benefit, during official visits or otherwise.

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It has to be noted that any third party, having business dealings with the Britannia group viz. consultants, agents, sales representatives, distributors, contractors, suppliers, etc. shall not be authorized to associate or do business with Britannia if their business Culture and ethics are known to be inconsistent with this Code. No third party service provider to Britannia will use the company's name for vested interest. 3.6 Gifts, Favours and Entertainment
Receiving Gifts

Britannia and its employees shall not receive, directly or indirectly, any payments, remuneration, gifts, donations or comparable benefits which are intended to or perceived to obtain business or uncompetitive favors for the Culture of its business. You should never accept a gift in circumstances in which it could even appear to others that your business judgment has been compromised. Similarly, you may not accept or allow a close family member to accept gifts, services, loans or preferential treatment from anyone - customers, suppliers or others - in exchange for a past, current or future business relationship with Britannia. However, in instances where organizations offer gifts/ special discounts for their business associates of their products/ services, it becomes obligatory to obtain a positive affirmation that the benefit enjoyed by you is consistent with the policy of the business associate and is not being extended only to an individual. This is however, subject to the following important limitations: The gift or favor must be of nominal value not exceeding Rs.1000 (Rupees One Thousand) and must involve no more than normal sales promotion or publicity of the giver. Social amenities must be appropriate and limited, and must never give the appearance of impropriety. Any discounts on goods or services offered to you by any of the above mentioned business associates must be made generally available and cannot be for your benefit only. You may not borrow money, except from qualified financial institutions on generally available terms.
Giving Gifts

You will not offer a gift or favor to those who do - or seek to do - business with Britannia unless it involves a Britannia-approved sales promotion, advertising, or publicity OR unless it meets this twopronged test: it is properly authorised by the Chief Executive Officer and endorsed by the Chief Financial Officer; and it does not risk appearing to compromise your business relationship. Reporting Gifts Employees must receive approval from the Compliance Officer or the next higher level before they accept any gift having a value of over Rs. 1000 (Rupees One Thousand) which comes to them through their normal sales promotion or publicity of the giver and the gift offered is not for the employee or director as an individual, but is consistent with the policy of the business associate. This applies equally to giving gifts to suppliers or vendors or non-government customers. Other Benefits Award of benefits such as increase in salary or other remuneration, posting, promotion or recruitment of a relative of an employee of Britannia where the individual is in a position to influence the decision with regard to such benefits is also strictly prohibited. Entertainment Business entertainment of non-government employees occurring in connection with business discussions or the development of business relationships is generally deemed appropriate in the conduct of official business. This may include business-related meals and trips, refreshments before or after a business meeting, and occasional sports, theatrical or cultural events. Entertainment in
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any form that would likely result in a feeling or expectation of personal obligation should not be extended or accepted. This applies equally to both giving and receiving entertainment. Appropriate entertainment may be offered to customers by persons authorized to do so, subject to the business expense reimbursement requirements applicable. 4. PRIVACY / CONFIDENTIALITY 4.1 Proprietary and Confidential Information While working for Britannia you must protect the confidentiality of nonpublic information you obtain or create in connection with your activities for Britannia. You must not disclose proprietary or confidential information about - Britannia, its customers, suppliers, distributors, agencies or employees to anyone (including other Britannia personnel) who is not authorized to receive it nor has no need to know the information. The only exceptions are when such disclosure is authorized by the customer, supplier or distributor, or by applicable law or appropriate Britannia authorities. Examples of proprietary and confidential information include: Any system, information or process that gives Britannia an opportunity to obtain an advantage over our competitors; Non-public information about Britannia's operations, Results, strategies and projections including those on acquisition and divestiture of businesses or business units, Non-public information about Britannia's business plans, business processes and client relation-ships; Non-public employee information; Non-public information received in the course of your employment about customers, suppliers and distributors; Information about Britannia's technology, systems and proprietary products. Financial information such as profits, earnings and dividends. Announcement of new product introductions or developments. Asset revaluations. Investment decisions/plans. Restructuring plans. Major supply and delivery agreements. Raising finances Any creation of the employee during his tenure with Britannia would be deemed to be proprietary to the company and will not be used by the individual employee at any point of time. You must take precautionary measures to prevent unauthorized disclosure of proprietary and confidential information. Accordingly, you should also take steps to ensure that business-related paperwork and documents are produced, copied, faxed, filed, stored and discarded by means designed to minimize the risk that unauthorized persons might obtain access to proprietary or confidential information. You should also ensure that access to work areas and computers is properly controlled.

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4.2 Privacy of Customer Information and Data Protection An employee of Britannia and his / her immediate family shall not derive any benefit or assist others to derive any benefit from the access to and possession of information about the Company or the Group, which is not in the public domain and thus constitutes insider information. Keeping customer information secure and using it appropriately is therefore a top priority for all of us at Britannia. You must safeguard any confidential information our customers share with us and must ensure that we use customer information only for the reasons for which the information was gathered, unless further use is allowed by law. In addition, many countries have data protection and privacy laws that affect the collection, use and transfer of personal customer information. This is a rapidly changing area of law, and you should consult the Compliance Officer with any questions regarding appropriate uses of customer information. 4.3 Privacy of Employee Information Britannia recognizes and protects the privacy and confidentiality of employee medical and personnel records. Such records must not be shared or discussed outside Britannia, except as authorized by the employee or as required by law, rule, regulation or court summons or order issued by a court of competent jurisdiction or requested by a judicial or administrative or legislative body. Requests for such records from anyone outside the company under any other circumstances must be approved by the Compliance Officer. 5 INVESTMENTS AND OUTSIDE ACTIVITIES 5.1 Financial Interests Reporting and Acquiring Financial Interests You must inform Britannia of any financial interest held by you, or by members of your family, in Britannia or any organization that is not publicly limited and with which Britannia does business, and of any financial interest you hold in either of the following: An organization that is not a corporation with which Britannia does business. A privately owned corporation (i.e., one that is not publicly traded) with which Britannia does business. You must also disclose to Britannia any of the following interests that a family member holds, if the organization does business with Britannia: A financial interest in a privately owned corporation or in any other private entity. An ownership interest - or the right to acquire ownership - in excess of 1% of a publicly owned organization. In addition, you must report any other monetary interest that you or any of your family members have in any business transaction with Britannia. Financial interests in an organization that does not do or seek to do business with Britannia do not have to be disclosed under this policy. Once a financial interest has been reported, you may retain it unless Britannia determines that such financial interests might influence your conduct as an employee. If this happens, Britannia will notify you and discuss the best way to resolve the matter. Such declaration must be given at the beginning of every calendar year.

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Without first getting a special waiver, you and / or your family members must not acquire or hold any of the following financial interests in an organization with which Britannia does business: Any interest as a proprietor or partner. Any interest exceeding 1% of the total stocks or bonds of a company. Any interest in the form of a loan, advance, or other financial arrangement in an amount greater than 1% of the combined capital and debt of a company (Whether or not publicly owned). If you hold, or intend to acquire an interest listed above, or directorship in any organization, you must get the written approval of the Compliance Officer. You are responsible for knowing and abiding by any Britannia corporate policies that may be applicable to you.
Business contracts with Britannia

You must not be personally involved in any business transaction that Britannia may undertake with the organization in which you have a financial interest.
Insider Trading

Britannia policy and the laws of India prohibit trading in the securities (including equity securities, convertible securities, options, bonds and any stock index containing the security) of any company while being an employee of that Company and being in possession of material, nonpublic information (also known as "inside information") regarding the company. This prohibition applies to Britannia securities. It applies to transactions for any Britannia account, client account or personal account. A personal account is any account in which you have a financial or beneficial interest or the power to affect or ability to influence trading or investment decisions, either directly or indirectly. Personal accounts typically include accounts of spouses, children and other members of your household, and accounts over which you have investment discretion. If you believe you have come into possession of inside information, you may not execute any trade in the securities of the Company without first consulting with the Compliance Officer, who will then determine whether such trade would violate Britannia policy or applicable laws. The definition of "material, nonpublic information" is broad. Information is "material" (and hence, potentially subject to the prohibition on insider trading) if there is a substantial likelihood that a reasonable investor would consider the information important in determining whether to trade in a security, or if the information, if made public, likely would affect the market price of a company's securities. Information may be material even if it relates to future, speculative or contingent events, and even if it is significant only when considered in combination with publicly available information. Information is considered to be "nonpublic" unless it has been publicly disclosed, and adequate time has passed for the securities markets to digest the information. Examples of adequate disclosure include public filings with securities regulatory authorities and the issuance of press releases, and may also include meetings with members of the press and public. It is also illegal in India to "tip" or pass on inside information to any other person if you know or reasonably suspect that the person receiving such information from you will misuse such information by trading in securities or passing such information on further, even if you do not receive any monetary benefit from the person passing the tip. Directors of Britannia and officers of the rank of General Manager and above are subject to reporting and other legal restrictions regarding their personal trading of securities.

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5.2 Conflicts of Interest

Investments

You must not make any personal investment in an enterprise if the investment might affect or appear to affect your ability to make unbiased business decisions for Britannia. If you made such an investment before joining Britannia, or your position at Britannia changes in such a way as to create a conflict of interest or the appearance of such a conflict, you must report the facts to the Compliance Officer. Investments subject to this provision include your or your relatives subscribed share capital of any company or a share in any firm which is an actual or potential competitor, supplier, customer, distributor, joint venture or other alliance partner of Britannia (The ownership of upto 1% of the subscribed share capital of a publicly held company shall not ordinarily constitute a financial interest for this purpose).
Use of Britannia Name, Facilities or Relationships

You should not use Britannia's name, facilities, or relationships for personal benefit or for outside work. Use of Britannia's name, facilities or relationships for charitable or pro bono purposes can be made only with prior approval from the Compliance Officer and only after any other notification and approvals in accordance with the policies of your business unit.
Corporate Opportunities

You owe a duty to Britannia to advance its legitimate interests when the opportunity to do so arises. You may not take for yourself a corporate opportunity that is discovered in the course of your employment or through the use of corporate property, information or position, nor may you compete against the company.
Related Party Business Dealings

You must notify your local General Manager and the Compliance Officer of any business relationship or proposed business transaction Britannia may have with any company in which you or a related party has a direct or indirect interest or from which you or a related party may derive a benefit, or where a related party member is employed, if such a relationship or transaction might give rise to the appearance of a conflict of interest (for example, if you or a family member own or control property of significant value that Britannia is either purchasing or leasing).
Personal Business Dealings

You should not involve yourself in conducting business on behalf of Britannia or influence a decision with regard to the Company's business with a supplier or customer of which your relative is a principal, officer or representative, resulting in his / her benefit. Any nonstandard business arrangements between Britannia personnel and Britannia must be pre-approved by the appropriate authority. Notwithstanding that such or other instances of conflict of interest exist due to any historical reasons, adequate and full disclosure by the interested employees should be made to the Compliance Officer. It is also incumbent upon every employee to make a full disclosure of any interest which the employee or the employee's immediate family, which would include parents, spouse and children, may have in a company or firm which is a supplier, customer, distributor of or has other business dealings with his / her Company. Every employee who is required to make a disclosure as mentioned above shall do so, in writing, to his / her immediate superior who shall forward the information along with his / her comments to be placed before the Compliance Officer and Chief Executive Officer / Chief Financial Officer and if the
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individual concerned is of the rank of a General Manager and / or above then to the Audit Committee. Upon a decision being taken in the matter, the employee concerned will be required to take necessary action as advised to resolve / avoid the conflict. Failure of the employee to make such disclosures would be constituted as a conflict of interest, wherein, the management would take a serious view of the matter and consider suitable disciplinary action against the employee.
Procedural Guidelines to the code of Business Culture

The following questions and answers set out the procedures relevant to potential violations of the Code. The procedural guidelines may not necessarily be exhaustive, but try to cover most cases where a potential violation of the Code can occur. Changes to the procedural guidelines are anticipated as a part of the dynamics of business environment, which would be communicated as and when necessary. REPORTING Q Whom should an employee report suspected violations of the Code? A You can report violations of the Code to your manager, Principal Manager, or higher levels of management. In the case of potential criminal violations, contact the Compliance Officer. Q Can an employee report a suspected violation of the Code confidentially? A Every effort will be made to maintain the confidentiality of the person making a report of a suspected Code violation. INVESTIGATION Q Who should take the lead in investigating suspected Code violations? A The local Finance department normally will conduct the investigation. Corporate Audit and Legal departments must be notified of any investigation and also may be involved in the investigation, especially if the alleged violation occurred in a corporate function. Where the suspected Code violation could amount to criminal conduct, Compliance Officer also may take part in the investigation. Human Resources personnel may be informed, but may not take an active role in a Code investigation. For ranks of employees from General Managers and above, investigation will be conducted by the Audit Committee. Q Will the subject of the investigation receive notification of the investigation? A It depends on the circumstances and the results of the preliminary investigations. If there is insufficient evidence of a Code violation, the investigation may be closed without notification. In the event it is determined that evidence of a violation exists, the individual will be notified but that notification may not occur until after records have been reviewed and witnesses interviewed. Q Will the subject of the investigation have an opportunity to respond to any allegations made against him or her? A Yes, the subject of an investigation will have the opportunity to respond to any allegations made against that person. Q Can a suspected violator be suspended while an investigation is ongoing? A Yes, on the recommendation of the Internal Audit and Legal departments and with the joint approval of the Chief Executive Officer and Chief Financial Officer, a person suspected of violating the Code could be suspended with or without pay while an investigation is conducted.
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DECISION Q Who makes the decision on whether a violation of the Code has occurred? A A preliminary determination will be made by the Internal Audit and Legal Department. This preliminary determination should be communicated to the Principal Manager of the alleged violator and to the Compliance Officer. Sole authority for making a final determination that a violation has occurred rests jointly with the Chief Executive Officer and Chief Financial Officer, in the case of employees below the rank of General Manager and by the Chairman and Chief Executive Officer in the case of ranks of General Managers and above. DISCIPLINE Q Does anyone make a recommendation on appropriate discipline? A Yes, the Principal Manager together with the Legal and Internal Audit departments should make a recommendation on appropriate discipline. That recommendation should be given by the Head of Internal Audit for review and presentation to the Chief Executive Officer and Chief Financial Officer in the case of employees below the rank of General Manager. For employees of the rank of General Manager and above, the Chief Financial Officer must make a recommendation of the appropriate discipline to the Chairman and Chief Executive Officer, in consultation with the Legal and Internal Audit departments. Q What factors will be considered in determining the appropriate punishment? A The company uses a system of progressive discipline. The company strives to impose discipline for a Code violation that fits the nature and particular facts of a violation, including the history of those involved. Q What forms of discipline does the company impose? A The company generally will use warnings or letters of reprimand for less significant, first-time offenses. Violations of a more serious nature may result in suspension without pay, demotion, loss or reduction of bonus or option awards or any combination. Termination of employment generally is reserved for theft or other violations amounting to a breach of trust, and for cases where a person has engaged in multiple violations. Q Who makes the final decision on discipline? A The final decision on appropriate discipline will be made jointly by the Chief Executive Officer and Chief Financial Officer, in the case of employees below the rank of General Manager; and by the Chairman and Audit Committee for ranks of General Manager and above. Q Can the violator seek reconsideration of the final discipline decision? A Yes, within 14 days of notification of the final discipline decision, the alleged violator can make a written request for reconsideration, which may be considered jointly by the Chief Executive Officer and the Chief Financial Officer. Q Who communicates the final discipline decision? A The appropriate Principal Manager or representatives from the Legal or Internal Audit departments will communicate the decision to the employee concerned.

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REPORTING AND RECORD KEEPING Q Who are the persons to whom the violation and disciplinary action will be communicated? A The Chief Financial Officer will report to the Audit Committee on a quarterly basis, all violations and disciplinary actions taken. Q What documents concerning the violation will be maintained in an employee's personnel records? A A notation as to the final decision as well as any letters of reprimand or other communications with the violator will be placed in the employee's personnel file as part of his / her permanent record. These guidelines do not create any contractual rights of any kind between Britannia Industries Limited and its employees. In addition, all employees should understand that these guidelines do not modify their employment relationship whether at will or governed by contact. Britannia Industries Limited reserves the rights to amend or alter these guidelines at any time and for any reason.

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In the biscuit market internationally, Britannias Tiger made people sit up when, starting from scratch after the economic liberalization, it achieved quick sustainable growth in both volume and value with sales of Rs 100 crore in the first year of launch. It was the brand values built up around Tiger that transformed the commodity market to a branded market and today Tiger is continuously growing. In 1996, nobody, not even retailers, could believe that glucose had the potential to grow another national brand. But Shinings patented research process extracted that glucose equals takat, and takat is force or strength. Britannias Eat Healthy, Think Better positioning was then straddledas Tiger Health Force biscuits for the glucose market. The design established takat with a forceful Tiger wearing overalls and lunging speedily forward. It connected to children and workers alike. The whole idea of creating the Tiger mascot in a bright red packaging was to create a strong differentiation from Parle G, the market leader in this category at that time. Tigers design allows it to evolve in the future with the Tiger moving in different postures with different product attributes. Today Tiger is the healthiest brand in Britannias business portfolio bringing in annual sales of about Rs 400 crore within five years.

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Tiger Banana
Britannia is committed to help secure every child's right to Growth & Development through good food every day. Purposefully taking forward the credo of 'Eat Healthy, Think Better ', they have launched a new variant under our power brand TIGER - TIGER BANANA - power packed with IRON ZOR & and with the delightful taste of banana. IRON ZOR helps make mind sharper and body stronger. A Rs.4 pack has as much IRON ZOR as that in 1 kg of Banana. R&D in Britannia has spent considerable time to develop this nutritious and delightful snack for children. Britannia Tiger Banana packed with IRON ZOR and goodness of Banana is accessible to all, being available in convenient packs priced at Rs.2, Rs.4 and Rs.10.

NutriChoice Sugerout
The earlier days believe of people that healthy food means compromising with taste has changer with this product of Britannia. Without extra addition of sugar this product tests really great. This is because NutriChoice SugarOut is sweetened with "Sucralose," derived from sugar, which provides the same sweetness as any other biscuit, without the added calories of sugar. This range is available in 3 delicious variants namely Litetime, Chocolate cream, and Orange cream, targeted towards all health sensitive people. It is also relevant for consumers with sugar related ailments. Britannia has chosen to represent these biscuits with "No Added Sugar" claim, as there is no added sugar in the processing of NutriChoice SugarOut.

Britannia 50-50 Pepper Chakkar

The launch of the latest 50-50 variant left everybody guessing "What it eez?" From TV ads, radio, outdoor and instore display materials to events, a website and SMS and email blasts, traditional and new media were blended synergistically to create excitement and curiosity about the unique taste of the biscuit. The tangy and distinctive pepper flavoured biscuit, that's thin and crispy and more like a snack, caught the imagination of a younger audience craving something to nibble on. The 50-50 Pepper Chakkar launch is truly a case of leveraging the marketing mix to best advantage.

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NutriChoice Digestive Biscuit

Nothing can be more difficult than making small efforts in our daily life towards healthy and active living. 24/7 we are engrossed in our busy schedules; skipping meals, missing walks, along with inadequate sleep and frequently eating-out, all take a heavy toll on our health. At least with the new and improved NutriChoice Digestive Biscuit, we have one less thing to worry about. Made with 50% whole-wheat and packed with added fibre (10% of our daily dietary needs), these delightfully tasty biscuits are amongst healthiest bites of the day.

Treat Fruit Rollz

All kids who have relished the yummy creamy treasures of Britannia Treat in exciting flavors, have yet another reason to celebrate. The cause is Treat Fruit Rollz !!. These tasty soft rolls are filled with real fruits and provide a healthy yet mouthwatering treat to the kids. Fruit Rollz comes in four masti fruit flavours - Juicy Apple, Strawberry Surprise, Tangy Orange and Delicious Dates! They make the best Tiffin treats! So during snack time what better than to munch on the delicious and healthy Fruit Rollz and discover the yummy fruit flavor from within the shells. Keeping up with Britannia's platform of 'taste bhi, health bhi', Fruit Rollz is indeed a yummy snacking option for kids, while keeping the Moms assured about the goodness provided by the fruit filling.

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New Britannia Milk Bikis

Milk Bikis, the favourite growth partner of Kids, now brings greater value and delight to all with its new product and pack design. Recently relaunched in its existing Southern & Eastern markets, and extended across India, the new Milk Bikis is all set to add excitement and appeal to nutritious food. Whoever said that good food needs to look dull and boring, will just have to take a look at Milk Bikis. With a unique and attractive honeycomb design and an enhanced product experience, the new biscuit prompts the Kids will love it reaction amongst mothers. The milk goodness in the recipe is now enhanced with SMART NUTRIENTS 4 vital vitamins, iron and iodine, proven to aid mental and physical development in growing kids. The premium packaging, besides appealing to kids, also ensures that the biscuits remain fresh and crisp

Product Price
Product Name Price Quantity Available(Gm.)
370 370 275 275 200 300 200 . Britannia Khin Rs. 22 Britannia Marie Rs. 21 Cream Creaker (Zira) Rs. 24 Cream Creaker (Salted) Rs.20 Britannia Good Day (Kaju) Rs.22 Britannia Good Day (Butter) Rs.21 Britannia Milk Bikkis Rs.5,10,15 Britannia Milk Cream Rs.23 Britannia Nice (With Sugar) Rs.10 Britannia Burbon Cream Rs.5,12,21 Britannia Orange Cream Rs.17.50 Britannia Suji Tost Rs.19 Britannia Slice Cake Rs.13 Britannia Time Pass (Salted) Rs.10,14.50 Britannia Tiger Rs.5,10 Britannia Zim Zam Rs.5,23

200 225

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Britannia NutriChoice Oat Cookies

For the first time in India we have Britannia NutriChoice 'Diabetic Friendly' Essentials specially designed for people with diabetes. There's no longer a need to avoid snacks or go hungry while traveling or at work. Rather approach snacking in a healthy way with our Oat Cookies. Britannia NutriChoice Oat Cookies are scientifically created to suit the special lifestyle and nutrition needs of diabetics to manage extreme swings in blood sugar. They are tasty, crunchy and convenient option for those mid-meal pangs. In addition, the oat fiber lowers rise in blood sugar, helps control blood cholesterol and helps you feel satisfied and active for longer.

Britannia NutriChoice Ragi Cookies

For the first time in India we have Britannia NutriChoice 'Diabetic Friendly' Essentials specially designed for people with diabetes. There's no longer a need to avoid snacks or go hungry while traveling or at work. Rather approach snacking in a healthy way with our Ragi Cookies. Britannia NutriChoice Ragi Cookies are scientifically created to suit the special lifestyle and nutrition needs of diabetics to manage extreme swings in blood sugar levels. They are tasty, crunchy and convenient option for those mid-meal pangs. Ragi helps lower blood glucose levels and in a rich source of magnesium, which is instrumental for the production of important enzymes. Our Ragi Cookies are a good source of fiber, both soluble and insoluble, for heart and digestive health.

Veg Cakes
Britannia Veg Cakes is every vegetarian's dream come true! 100% vegetarian cake with all the softness and delight a cake should have. Every slice is soft and fluffy, stuffed with real fruit bits, to give you a cake that is truly delicious, down to the last slice. Add to this zero cholesterol and a 3 month shelf life and you have a healthy, convenient snack to enjoy anytime, anywhere.

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Nutri choice Health Starter Kit

2010 - Britannia Nutrichoice launches a New Year pack - the Nutrichoice Health Starter Kit. Created for everyone who makes a New Year resolution to become healthy and does not follow through on it. The Health Starter Kit contains a range of healthy biscutis - 1 pack each of Nutrichoice Hi-Fiber Digestive, Nutrichoice 5 Grain and Nutrichoice Nature Spice Cracker. It also has a one week free pass to Talalkars gym that entitles every consumer to one week free trial of any Talwalkars (TBVF ltd) gym across the country. In addition to this the pack also contains a Fit Sip Sipper and a fitness chart. All this for only Rs 100.

NutriChoice 5 Grain
Most consumers believe that to in order to stay healthy one needs to make certain compromises on some good things in life. At the same time most of us agree that good nutrition cannot come from one kind of food alone, but from a healthy combination / assortment of several healthy ingredients put together. Britannia NutriChoice 5 Grain Biscuits are a perfect answer to those looking for healthy eating options without as much making a compromise on taste, or convenience, or health. Because Britannia NutriChoice 5 Grain biscuits are made from 5 carefully chosen healthy cereals (Oats that help reduce bad cholesterol, Corn which promotes heart health, Ragi a good source of both Calcium as well as Fibre, Rice low in fat, and Wheat that provides wholesome energy). These biscuits are delicately sweetened with natural honey, and come in a unique large oval shape. It is this large size and the healthy combination of the ingredients, that make it an ideal hunger buster for those inbetween meals time hunger. Britannia NutriChoice 5 Grain biscuit pack contains several small single serve pocket meals packs, so that one is never far away from pacifying hunger on the move. So whenever you miss your breakfast, or succumb to those unhealthy evening snacks, you can relish the goodness of health withBritannia NutriChoice 5 Grain biscuits.

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Tiger Banana
Britannia is committed to help secure every child's right to Growth & Development through good food every day. Purposefully taking forward the credo of 'Eat Healthy, Think Better', we have launched a new variant under our power brand TIGER - TIGER BANANA - power packed with IRON ZOR & and with the delightful taste of banana. IRON ZOR helps make mind sharper and body stronger. A Rs.4 pack has as much IRON ZOR as that in 1 kg of Banana. R&D in Britannia has spent considerable time to develop this nutritious and delightful snack for children. Britannia Tiger Banana packed with IRON ZOR and goodness of Banana is accessible to all, being available in convenient packs priced at Rs.2, Rs.4 and Rs.10.

Nutri Choice SugarOut

Sounds like yesterday when people commented that healthy foods meant "compromising on the taste." NutriChoice SugarOut is the most novel product range to have been introduced in the market. The product is not just sweet but tastes great, and yet contains no added suga r. This is because Nutri Choice SugarOut is sweetened with "Sucralose," derived from sugar, which provides the same sweetness as any other biscuit, without the added calories of sugar. This range is available in 3 delicious variants namely Litetime, Chocolate cream, and Orange cream, targeted towards all health sensitive people. It is also relevant for consumers with sugar related ailments. We are sure that you will be pleasantly delighted with its great taste and equally surprised to know that it has no added sugar. Don't be taken for a ride when you read "Sugar Free" label on many biscuit packs marketed in India or abroad. Even with 100% no-added sugar, wheat-cereals in biscuits have their own natural sugar content. Britannia has chosen to represent these biscuits with "No Added Sugar" claim, as there is no added sugar in the processing of Nutri Choice SugarOut.

NutriChoice Digestive Biscuit

Nothing can be more difficult than making small efforts in our daily life towards healthy and active living. 24/7 we are engrossed in our busy schedules; skipping meals, missing walks, along with inadequate sleep and frequently eating-out, all take a heavy toll on our health. At least with the new and improved NutriChoice Digestive Biscuit, we have one less thing to worry about. Made with 50% whole-wheat and packed with added fibre (10% of our daily dietary needs), these delightfully tasty biscuits are amongst your healthiest bites of the day.

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Treat Fruit Rollz

All kids who have relished the yummy creamy treasures of Britannia Treat in exciting flavors, have yet another reason to celebrate! Britannia Treat launches the amazingly yummy Treat Fruit Rollz!! These tasty soft rolls are filled with real fruits and provide a healthy yet mouthwatering treat to the kids. Fruit Rollz comes in four masti fruit flavors Juicy Apple, Strawberry Surprise, Tangy Orange and Delicious Dates! Want to know a little secret? They make the best tiffin treats! So during snack time what better than to munch on the delicious and healthy Fruit Rollz and discover the yummy fruit flavor from within the shells. Keeping up with Britannia's platform of 'taste bhi, health bhi', Fruit Rollz is indeed a yummy snacking option for kids, while keeping the Moms assured about the goodness provided by the fruit filling.

New Britannia Milk Bikis

Milk Bikis, the favourite growth partner of Kids, now brings greater value and delight to all with its new product and pack design. Recently relaunched in its existing Southern & Eastern markets, and extended across India, the new Milk Bikis is all set to add excitement and appeal to nutritious food. Whoever said that good food needs to look dull and boring, will just have to take a look at Milk Bikis. With a unique and attractive honeycomb design and an enhanced product experience, the new biscuit prompts the Kids will love it reaction amongst mothers. The milk goodness in the recipe is now enhanced with SMART NUTRIENTS 4 vital vitamins, iron and iodine, proven to aid mental and physical development in growing kids. The premium packaging, besides appealing to kids, also ensures that the biscuits remain fresh and crisp. So, whether its breakfast time or snack time at school, rest assured that kids will look forward to munching these crunchy, milky biscuits which even helps in their development. And yes, adults wont be far behind in reaching out for a pack!

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Nutritive Value
Water Crackers (4 Crackers) Private Selection Britannia Crisps (1 serving) calories: 60, fat: 1g, carbs: 12g, protein: 2g Britannia Milk Bikis (4) (1 serving) calories: 130, fat: 4g, carbs: 22g, protein: 2g Britannia Nutrichoice Cream Cracker (1 gram(s)) calories: 5, fat: 0g, carbs: 1g, protein: 0g Britannia Pista Badam Cookies (1 serving) calories: 50, fat: 3g, carbs: 1g, protein: 1g Water Crackers, Britannia Crisps (1 serving) calories: 60, fat: 2g, carbs: 12g, protein: 1g Crackers, Britannia Crisps (1 serving) calories: 60, fat: 1g, carbs: 12g, protein: 1g Britannia Biscuits (1 serving) calories: 42, fat: 0g, carbs: 0g, protein: 0g Britannia Bourbon Treat (chocolate Cream Biscuits) (1 serving) calories: 130, fat: 5g, carbs: 18g, protein: 1g Britannia Cardamom Treat Cream Biscuits, 3 Pieces, One Cookie One Serving (1 serving) calories: 47, fat: 2g, carbs: 7g, protein: 0g

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Public relations involve the cultivation of favourable relations for organizations and products with its key publics through the use of a variety of communications channels and tools. Traditionally, this meant public relations professionals would work with members of the news media to build a favourable image by publicizing the organization or product through stories in print and broadcast media. But today the role of public relations is much broader and includes: building awareness and a favourable image for a company or client within stories and articles found in relevant media outlets closely monitoring numerous media channels for public comment about a company and its products managing crises that threaten company or product image building goodwill among an organizations target market through community, philanthropic and special programs and events Most of the focus is on how public relations supports marketing by building product and company image (sometimes referred to as publicity). Yet, it should be noted that there are other stakeholders companies reached via the public relations function, such as employees and non-target market groups. Favorable media coverage about a company or product often reaches these audiences as well and may offer potential benefit to the marketer. Finally, in most large companies, investor relations (IR) or financial public relations is a specialty in itself guided by specific disclosure regulations? However, coverage of this type of PR will not be provided here.

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Advantages of Public Relations Public relations offers several advantages not found with other promotional options. First, PR is often considered a highly credible form of promotion. One of PRs key points of power rests with helping to establish credibility for a product, company or person (e.g., CEO) in the minds of targeted customer groups by capitalizing on the influence of a third-party -- the media. Audiences view many media outlets as independent-party sources that are unbiased in their coverage, meaning that the decision to include the name of the company and the views expressed about the company is not based on payment (i.e., advertisement) but on the media outlets judgment of what is important. For example, a positive story about a new product in the business section of a local newspaper may have greater impact on readers than a full-page advertisement for the product since readers perceive the news media as presenting an impartial perspective of the product. Second, a well-structured PR campaign can result in the target market being exposed to more detailed information than they receive with other forms of promotion. That is, media sources often provide more space and time for explanation of a product. Third, depending on the media outlet, a story mentioning a company may be picked up by a large number of additional media, thus, spreading a single story to many locations. Finally, in many cases public relations objectives can be achieved at very low cost when compared to other promotional efforts. This is not to suggest public relations is not costly, it may be, especially when a marketer hires PR professionals to handle the work. But when compared to the direct cost of other promotions, in particular advertising, the return on promotional expense can be quite high.

Disadvantages of Public Relations While public relations hold many advantages for marketers, there are also concerns when using this promotional technique. First, while public relations uses many of the same channels as advertising, such as newspapers, magazines, radio, TV and Internet, it differs significantly from advertising in that marketers do not have direct control over whether a message is delivered and where it is placed for delivery. For instance, a marketer may spend many hours talking with a magazine writer, who is preparing an industry story, only to find that their company is never mentioned in the article. Second, while other promotional messages are carefully crafted and distributed as written through a pre-determined placement in a media vehicle, public relations generally conveys information to a member of the news media (e.g., reporter) who then recrafts the information as part of a news story or feature. Thus, the final message may not be precisely what the marketer planned. Third, while a PR campaign has the potential to yield a high return on promotional expense, it also has the potential to produce the opposite if the news media feels there is little value in running a story pitched (i.e., suggested via communication with the news outlet) by the marketer. Fourth, with PR there is always a chance that a well devised news event or release will get bumped from planned media coverage because of a more critical breaking news story, such as wars, severe weather or serious crime. Finally, in some areas of the world the impact of traditional news outlets is fading forcing public relations professionals to scramble to find new ways to reach their target markets.

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Objectives of Public Relations Like other aspects of marketing promotion, public relations is used to address several broad objectives including:
Building Product Awareness When introducing a new product or relaunching an existing product,

marketers can use a PR element that generates consumer attention and awareness through media placements and special events.
Creating Interest Whether a PR placement is a short product article or is included with other products

in round up article, stories in the media can help entice a targeted audience to try the product. For example, around the holiday season, a special holiday food may be promoted with PR through promotional releases sent to the food media or through special events that sample the product.
Providing Information PR can be used to provide customers with more in depth information about

products and services. Through articles, collateral materials, newsletters and websites, PR delivers information to customers that can help them ga6in understanding of the product.
Stimulating Demand A positive article in a newspaper, on a TV news show or mentioned on the

Internet, often results in a discernible increase in product sales.

Reinforcing the Brand In many companies the public relations function is also involved with brand

reinforcement by maintaining positive relationships with key audiences, and thereby aiding in building a strong image. Today it is ever more important for companies and brands to build a good image. A strong image helps the company build its business and it can help the company in times of crises as well. Key Public Relations Tools Marketers have at their disposal several tools for carrying out public relations. The key tools available for PR include: Media Relations Media Tours Newsletters Special Events Speaking Engagements Sponsorships Employee Relations Community Relations and Philanthropy Before choosing among the various tools marketers should begin by identifying their targeted audiences (e.g., target markets) and key messages they wish to send. These should align with the messages and audiences identified for the product being promoted or corporate goals for non-specific product promotions, such as corporate image promotions. The key messages are used in the development of public relations materials and supporting programs described below. The purpose of key messages is to provide a consistent point of view over time and across numerous PR methods that reinforce product positioning (i.e., customer's perceptions) and reach the desired target audience. Each of the PR tools listed above is discussed in detail in our tutorial Types of Public Relations Tools.
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Additional PR Activities In addition to serving as means for helping to achieve marketing objectives, public relations professionals may undertake additional activities, aimed at maintaining a positive image for an organization. These activities include: Market Monitoring Monitoring public comment about a company and its products is becoming increasingly important especially with the explosion of information channels on the Internet. Today monitoring includes watching what is written and reported in traditional print and broadcast media and also keeping an eye on discussions occurring through various Internet outlets such as forums, chatrooms, blogs and other public messaging areas. Marketers must be prepared to respond quickly to erroneous information and negative opinions about products as it can spin out of control very quickly through the new technology channels. Failure to correct misinformation can be devastating to a product or companys reputation. It should be noted that specialized monitoring services can be contracted to help companies keep track of buzz about the company and its products. Crisis Management Marketers need to be prepared to respond quickly to negative information about the company. When a problem with a product arises in fact or substantiated only by rumor a marketers investment in a product and brand can be in serious jeopardy. Today, with the prevalence of the Internet and wireless communications, negative information can spread rapidly. Through monitoring marketers can track the issues and respond in a timely fashion. To manage response effectively, many companies have crises management plans in place that outline steps to take and company spokespeople to speak on behalf of the company should an event occur. The Benefits of the PR Professional While some marketers may prefer to handle their own PR tasks, many others will seek the assistance of outside PR professionals rather than attempt to handle these activities themselves. Skilled PR professionals offer many advantages for marketers with their two most important being: Their ability to understand and unearth good stories about a company and its product Their knowledge of the media market may place them in a better position to match stories to the news angles media reporters look for.

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Difference between PR and Advertising 1. Paid Space or Free Coverage

Advertising: The company pays for ad space. You know exactly when that ad will air or be published. Public Relations: Your job is to get free publicity for the company. From news conferences to press releases, you're focused on getting free media exposure for the company and its products/services. with ad dollars and view it differently than they do paid advertising. "Where we can generate some sort of third-party 'endorsement' by independent media sources, we can create great credibility for our clients' products or services," Flowers said.

5. Creativity or a Nose for News

Advertising: In advertising, you get to exercise your creativity in creating new ad campaigns and materials. Public Relations: In public relations, you have to have a nose for news and be able to generate buzz through that news. You exercise your creativity, to an extent, in the way you search for new news to release to the media.

2. Creative Control Vs. No Control

Advertising: Since you're paying for the space, you have creative control on what goes into that ad. Public Relations: You have no control over how the media presents your information, if they decide to use your info at all. They're not obligated to cover your event or publish your press release just because you sent something to them.

6. In-House or Out on the Town

Advertising: If you're working at an ad agency, your main contacts are your co-workers and the agency's clients. If you buy and plan ad space on behalf of the client like Media Director Barry Lowenthal does, then you'll also interact with media sales people. Public Relations: You interact with the media and develop a relationship with them. Your contact is not limited to in-house communications. You're in constant touch with your contacts at the print publications and broadcast media.

3. Shelf Life
Advertising: Since you pay for the space, you can run your ads over and over for as long as your budget allows. An ad generally has a longer shelf life than one press release. Public Relations: You only submit a press release about a new product once. You only submit a press release about a news conference once. The PR exposure you receive is only circulated once. An editor won't publish your same press release three or four times in their magazine.

7. Target Audience or Hooked Editor

Advertising: You're looking for your target audience and advertising accordingly. You wouldn't advertise a women's TV network in a male-oriented sports magazine. Public Relations: You must have an angle and hook editors to get them to use info for an article, to run a press release or to cover your event.

4. Wise Consumers
Advertising: Consumers know when they're reading an advertisement they're trying to be sold a product or service. "The consumer understands that we have paid to present our selling message to him or her, and unfortunately, the consumer often views our selling message very guardedly," Paul Flowers, president of Dallas-based Flowers & Partners, Inc., said. "After all, they know we are trying to sell them." Public Relations: When someone reads a third-party article written about your product or views coverage of your event on TV, they're seeing something you didn't pay for 74

8. Limited or Unlimited Contact

Advertising: Some industry pros such as Account Executive Trey Sullivan have contact with the clients. Others like copywriters or graphic designers in the agency may not meet with the client at all. Public Relations: In public relations, you are very visible to the media. PR pros aren't always called on for the good news. If there was an accident at Company, you may have to give a statement or on-camera interview to journalists. You may represent Company as a spokesperson at an event. Or you may work within community relations to show Company is actively involved in good work and is committed to the city and its citizens.

9. Special Events
Advertising: If Company sponsors an event, you wouldn't want to take out an ad giving yourself a pat on the back for being such a great company. This is where your PR department steps in. Public Relations: If you're sponsoring an event, you can send out a press release and the media might pick it up. They may publish the information or cover the event.

10. Writing Style

Advertising: Buy this product! Act now! Call today! These are all things you can say in an advertisement. You want to use those buzz words to motivate people to buy your product. Public Relations: You're strictly writing in a no-nonsense news format. Any blatant commercial messages in your communications are disregarded by the media.

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Official Statement on Public Relations Public relations help our complex, pluralistic society to reach decisions and function more effectively by contributing to mutual understanding among groups and institutions. It serves to bring private and public policies into harmony. Public relations serves a wide variety of institutions in society such as businesses, trade unions, government agencies, voluntary associations, foundations, hospitals, schools, colleges and religious institutions. To achieve their goals, these institutions must develop effective relationships with many different audiences or publics such as employees, members, customers, local communities, shareholders, and other institutions, and with society at large. The managements of institutions need to understand the attitudes and values of their publics in order to achieve institutional goals. The goals themselves are shaped by the external environment. The public relations practitioner acts as a counsellor to management and as a mediator, helping to translate private aims into reasonable, publicly acceptable policy and action. As a management function, public relations encompass the following: Anticipating, analyzing and interpreting public opinion, attitudes, and issues that might impact, for good or ill , the operations and plans of the organization. Counselling management at al levels in the organization with regard to policy decisions, courses of action, and Communication, taking into accounts their public ramifications and the organizations social or citizenship responsibilities. Researching, conducting, and evaluating, on a continuing basis, programs of action and communication to achieve the informed public understanding necessary to the success of an organizations aims. These may include marketing, financial, fund raising, employee, community or government relations, and other programs Planning and implementing the organizations efforts to influence or change public policy. Setting objectives, planning, budgeting, recruiting and training staff, developing facilities in short, managing the resources needed to performance of the above. Examples of the knowledge that may be required in the professional practice of public relations include communication arts, psychology, social psychology, sociology, political science, economics, and the principles of management and ethics. Technical knowledge and skills are required for opinion research, public-issues analysis, media relations, direct mail, institutional advertising, publications, film/video productions, special events, speeches, and presentations. In helping to define and implement policy, the public relations practitioner uses a variety of professional communication skills and plays an integrative role both within the organization and between the organization and the external environment.

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CORPORATE SOCIAL RESPONSIBILITY Company continues to pursue its Corporate Responsibility by driving the Health and Nutrition agenda in India. Company is moving along the path of Better for You products and Good for You products. Better for you includes initiatives of removal of unhealthy content like trans-fat which the Company undertook three years ago and continues to be the leading Company doing the same. Company now has a portfolio of Good for You products which are vitamin and mineral enriched these products constitute 55% of Companys product portfolio. In the last year, Company pioneered energy-snacks specially created for people with diabetes NutriChoice Diabetic Friendly Essentials. As you would be well aware, India is the Diabetes capital of the world. Britannia Annual Report 2010-11. Another well documented statistic is that India suffers from wide spread micronutrient deficiency the most notable being Iron Deficiency or Anaemia which affects 70% of the Indian population. Company continues to support several NGOs by supplying specially formulated Iron Fortified Biscuits. Company pursues relevant partnerships with key organizations in Nutrition like GAIN (Global Alliance for Improved Nutrition), UNWFP (United Nations World Food Program), WBI (World Bank Institute), CGI (Clinton Global Initiative), etc. Company has been recognized for its CSR efforts in the last year by the eminent Rotary Club of India and the Navjyoti Foundation. Company also set up the Britannia Nutrition Foundation which seeks to Secure every childs right to growth and development through good food everyday. The objective of the Britannia Nutrition Foundation is to work in three core areas Scientific Knowledge Building and Dissemination, Education and Awareness building at grass root levels, creating a Platform for Action. Company organized an international symposium on 1 September 2010 in New Delhi coinciding with the National Nutrition Week. The symposium was titled Indias Malnutrition Combating the Hard Core. It had 19 international and national speakers of eminence from the scientific and medical fraternities, the bureaucracy as well as the development sector. The symposium brought to light the success stories from around the world in combating malnutrition along with the scientific advancements in the area. The final session of the symposium saw a healthy panel discussion on creating a platform for action in India. Company also sponsors and participates in health and nutrition seminars to further the cause of awareness building. Some of them are: International Symposium on Trans fats, Delhi, April 2010 Sponsorship of Diabetes Blue Fortnight, World Diabetes Day, 14 November 2010 55th Annual National Conference of IPHA (Indian Public Health Association), Belgaum, January 2011 1st National Conference on Nutritional Anemia, LTMG Hospital, Mumbai, January 2011

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Britannia CSR 1. National Interests Britannia shall not undertake any project or activity to the detriment of the nation's interests, or those that will have any adverse impact on the social and cultural life patterns of its citizens. Britannia shall conduct its business affairs in accordance with the economic, development and foreign policies, objectives and priorities of the nation's government, and shall strive to make a positive contribution to the achievement of such goals at the international, national and regional level, as appropriate. 2. Corporate Citizenship Britannia shall be committed to be a good corporate citizen not only in compliance with all relevant laws and regulations but also by actively assisting in the improvement of the quality of life of the people in the communities in which it operates with the objective of making them self-reliant. Such social responsibility would comprise, to initiate and support community initiatives in the field of community health and family welfare, water management, vocational training, education and literacy and encourage application of modern scientific and managerial techniques and expertise. This will be reviewed periodically in consonance with national and regional priorities. The company would also not treat these activities as optional ones but would strive to incorporate them as integral part of its business plan. The company would also encourage volunteering amongst its employees and help them to work in the communities. Britannia is engaged to develop social accounting systems and to carry out social audit of their operations. 3. Working with Governments Conducting business with governments is not the same as conducting business with private parties. These transactions often are covered by special legal rules. You should consult with the Compliance Officer to be certain that you are aware of any such rules and you must have approval of Principal Manager before providing anything of value to a government official. The company prohibits the payment of bribes to government officials. "Government officials" are employees of any government anywhere in the world, even low-ranking employees or employees of government-controlled entities. The term "government officials" also includes political parties and candidates for political office. It is your obligation to understand whether someone you deal with is a government official. When in doubt, consult the Compliance Officer. The company may hire government officials or employees to perform services that have a legitimate business purpose, with the prior approval of the Principal Manager. For example, an off-duty police officer might provide security. Government officials should never be hired to perform services that conflict with their official duties. Political contributions by the company must be in accordance with local law. They must be approved by the Board of Directors and properly recorded.

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CSR activities: Britannia Planning Greenfield Projects Britannia Industries is planning one or two Greenfield projects, Chairman Nusli Wadia said here Monday. "We are looking at one or two greenfield projects in the coming days," Wadia said, addressing the 91st annual general meeting of the company. Asked about the location of the projects, Managing Director Vinita Bali said: "It is too premature to say the location. It will be finalized in the next few weeks." The company, however, did not specify in which segment in particular it would invest. "Investment depends upon the location which should be close to the market, and also on the tax benefit that we can get for the project," Wadia said. Britannia makes biscuits, bread, cakes and marine products. It is also engaged in dairy business with the launch of cheese, dairy whiteners and processed food products. Talking about the company's investment in the current fiscal (2010-11), Bali said: "Every year we invest around Rs.70-80 crore. This year also we will do the same." Britannia could raise biscuit prices between 5-10 percent depending on products to mitigate the impact of commodity price inflation. Bali, however, said it could be difficult to go for a hike second time this year due to competitive nature of the industry. It has already increased price during the first quarter (April-June) of the current fiscal. "While our volume growth has been 20 percent in April-June, value growth was 26 percent," she said. Wadia in his address to the shareholders said: "We are yet to overcome the impact of inflation push...hopefully we will pass on the impact of commodity inflation as biscuit industry is the only one which is yet to raise prices." Prices of key ingredients for biscuit like wheat, sugar and milk have gone up substantially. "Britannia will focus more on differentiated products where there is less competition and we would be able to raise prices," Bali said. About the rent-hike dispute between the company and the Kolkata Port Trust regarding its Taratalla premises, Wadia said the company has adopted two-pronged strategy to resolve the matter. It has moved court and simultaneously it is trying to negotiate and settle the matter with the KoPT through dialogue. Bali confirmed the factory operations are in full-swing in Taratala premises, in the southern outskirts of the city. Regarding the company's foreign operations, Wadia said: "The Middle East business continued to be adversely impacted by the challenging global economic uncertainty and a real population decline in the UAE, where it has a sizeable presence. Despite this, it revamped its marketing strategy and made significant brand investments that strengthened its competitive position, resulting in a market share increase in the GCC (Gulf Co-operation Council)." "Operations in Sri Lanka were discontinued as they were not viable and Britannia will continue to export some of its differentiated brands in Sri Lanka." "We are entering into Saudi Arabia market," Bali said. The company declared its first quarter result Monday. It posted net profit of Rs.32.8 crore against Rs.47.3 crore posted during the corresponding period a year ago.

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Community and Health The partnership Company has created with Global Alliance for Improved Nutrition (GAIN) and the Naandi Foundation to supply iron fortified Tiger biscuits to supplement the Mid-Day Meal program in schools, has been recognized as a unique program globally by GAIN. This prompted the World Bank Institute to write a case study and Company was invited to make a commitment to the Clinton Global Initiative, a non-partisan catalyst for action that brings together a community of global leaders to devise and implement solutions for some of the worlds pressing challenges like nutrition. Iron deficiency among Indian children is a key cause of school dropouts as well as decreased productivity. Based on the experience from the Britannia-GAIN-Naandi partnership, Company created a new offering for all consumers Tiger Banana, a delightful banana biscuit fortified with vitamins and minerals. In keeping with its core essence of Swasth Khao Tan Man Jagao, Company constantly strives to find sustainable opportunities to drive home the message of nutrition and good food habits among children at the right age. Britannia is committed to help secure every childs right to growth and development through good food every day. Its largest power brand, Tiger, is also being rolled out, fortified with iron. Company was also the first in the industry to remove trans-fat from most its biscuits as yet another meaningful step in offering products that are both healthy and enjoyable. Britannia, Naandi and GAIN: It was early November 2007, and Anurada Narasimhan, Britannias category manager, headed down the hall to meet with Neeraj Chandra, vice president of Marketing, Sales and Innovation, and PP Roy, head of Research and Development (R&D). CEO Vinita Bali was leaving to attend a World Bank Institute sponsored conference in Washington, D.C., in a few hours and putting the final touches to her presentation on Britannias food fortification efforts. Britannia had partnered with the Naandi Foundation to bring iron-fortified biscuits to 150,000 children in the Indian state of Andhra Pradesh through Naandis midday meal program. The partnership had been highly successful and both parties were very pleased, but both faced challenges to grow and sustain their efforts. Britannia faced the question of how to commercialize their fortified Tiger biscuit to reach a wider market; Naandi struggled to find ways to make Tiger biscuits, or other fortified food, a sustainable part of the noon-time meals. While a grant from the Global Alliance for Improved Nutrition (GAIN) had made it possible to procure the biscuits from Britannia at cost, and funding had been committed for 18 months, this was not a sustainable approach for the long term. Naandi also continued to search for other sustainable ways to provide critically needed nutrients to Indias poorest children. The biscuits had been a popular addition to the noontime meal, but they had to be purchased and distributed alongside the cooked meal. It was expensive and added an extra step; was there a way to fortify the more elemental ingredients in the lunch meals? In Indias wheat-eating regions, iron fortification had made significant strides; rice, however, was difficult to fortify effectively.

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Those parts of India that relied on rice for a major portion of their diet risked falling further behind in terms of nutrition through fortification efforts. Data revealed that in 2007 60% of Indias children and 4160% of women aged 1549 were iron deficient (see Exhibit 1 for data on malnutrition amongst children across the world). This is close to two-thirds of our children, Neeraj said, so it is not limited to the poor but also Indias middle class. From the age of six months to puberty, every lost year of adequate iron intake meant a year of development lost, PP added. Most agreed that to reach such a large sector of the population, only the government could truly mobilize resources. The government has to be the primary resource of sustaining nutrition, Neeraj said. Getting government support was a long process, however, and nutrition was not a priority issue among donors; as GAINs Dr. Rajan Sankar noted, The investment horizon is very long. Vinitas presentation in Washington would highlight these challenges for discussion amongst her peers from around the world. Iron Deficiency and Food Fortification According to PP, two factors should drive any food fortification efforts in India. Food was not a luxury for the vast majority of the population. People need food to fill their belly, most recommend at least two square meals a day, he said. Reports put India #1 in terms of levels of starvation, even above Africa, with 38% of the worlds malnourished children, and 47% of those children under 5 years old who were moderately or severely underweight (see Exhibit 2 for comparative statistics). Three-quarters of children aged three and under suffered from iron deficiency (anemia); 50% of children suffered from Vitamin A deficiency; iodine deficiency disorders were a public health problem in all states and Union Territories; India recorded very high rates of zinc deficiency, and had the highest recorded incidence of foliate (folic acid) deficiency. Secondly, mothers were concerned to give their children better opportunities, and since we are not a nation of athletic specimens, as PP said, they focus on mental performance instead as a way to get ahead. In India, being good at sports might give you a name, but wont make you money, except in some very rare instances of our cricket players, he noted. A childs mental performance was their ticket to a better life. Mothers determined what food came into the home, and that was what everyone in the family ate. Convincing mothers that better nutrition would give their offspring greater academic chances in life was therefore key to improving nutrition amongst children. However challenges were not insignificant; adding supplements, or promoting a vitamin pill as a way for children or pregnant women to get necessary micronutrients, as in some other countries, was not a successful tactic in India. If you are taking a pill, PP explained, there must be something wrong with you. Ensuring an adequate amount of iron in childrens diet had two benefits. Iron was essential to hemoglobin (blood) which carried oxygen. Half of the problems in the body could be traced to inadequate oxygen levels in blood; iron had been directly linked to IQ development in many studies, and general lack of energy, which in turn impacted learning and performance. As much as 6075% of Indias population was iron deficient. Given that this deficient population was widely distributed across the country, and even across socio-economic strata, such developmental issues could have a great impact on the country as a whole. The recommended daily amount of iron was 1250 milligrams. Excess iron in the system was also a problem, however. Any excess iron was stored in the liver, and surpluses caused toxicity, and could lead to liver or heart failure. To date, India had not focused on iron supplements; while the country had identified iodine as deficient in the nations diet, and mandated fortification, iron as an important nutrient had been largely ignored.

Malnutrition and the consequences of vitamin and mineral deficiencies could cost as much as 23% of a countrys GDP in terms of health care, with an additional cost of low productivity estimated at up to 3% of GDP for

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some countries ($8 billion).2 Yet the costs of food fortification to reduce malnutrition by supplementing diet with complex vitamins and minerals (such as iron) could be as little as 25 cents per individual per year.3 Dietary diversification, supplementation and fortification, especially in tandem with each other, were the best ways to tackle vitamin and mineral deficiencies.

The Naandi Foundation The Naandi Foundation, an autonomous, public trust that worked together with governments, corporate houses and the society to improve the lives of the underprivileged, was founded in 1998 by Dr. K Anji Reddy, founder and chairman of Dr. Reddys Laboratories, one of Indias largest pharmaceutical companies. Rather than a traditional charity or granting organization, Dr. Reddy and his partners, several prominent Hyderabad industrialists, determined Naandi should be a professionally run social services organization.7 In Sanskrit, Naandi translated as dawn or a new beginning. Naandi was directly involved in helping elected governments in India achieve equitable and efficient delivery of critical social services, specifically focusing on the protection of child rights. Services included developing sustainable livelihood options for small and marginal farmers and providing employability skills to underprivileged youth; and providing safe drinking water to various communities with contaminated water supplies. Naandi specifically furthered the protection of child rights through its midday meal programs, quality education initiatives in primary schools, comprehensive schoolchild healthcare plans, and support of girls of underprivileged families. Naandi and Indias School Feeding Programs In 2001 Indias highest court passed a mandate that directed all state governments to provide cooked midday meals in primary schools. The school feeding programs focused on filling bellies rather than providing specific supplements to alleviate nutritional deficiencies. The midday meal program was government-funded, providing hot cooked meals in the government and state schools, Monday through Saturday. With child labor and rural poverty still wide-spread concerns, getting children to attend school and stay in school past the age of 9 or 10 was a challenge. Providing food was a significant enticement: For some children, this is the only food they get all day, said Rohini Mukherjee, Naandis manager of global partnerships. Since the launch of the midday meal program, school attendance had gone up, and attendance of girls particularly had increased. A significant decrease in dropouts was also reported, and many schools found that students completed more schooling. Some noted that children sitting together to share a common midday meal worked to erode caste prejudices and class inequalities. Each state and region handled the implementation of the governments mandate differently; and the program sat under different state offices from state to state.10 In some areas, the programs were very informal, run by so-called self-help groups, mostly women who cooked food in the schools kitchen, which might have been no more than a small kerosene stove and a pot. In urban areas, schools were notoriously poor and over-crowded, with no space for cooking safely. Naandi first became involved in the midday meal program through the Ministry of Education in Hyderabad. Naandi had been running outreach programs in the schools, so had relationships and infrastructure in place. When the court mandate was passed, the state government approached Naandi for help as they had only six months to implement a meal program for their school system. Leena Joseph, on Naandis midday meal program board, began to help organize the effort; she became Naandis manager of the midday meal program.

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By late 2002, Naandi had signed a Memorandum of Understanding (MoU) with the government of Andhra Pradesh, and by February 2003 had found someone to donate land for the first kitchen and begun to set up operations. A combination of public and private donations funded the build-out of the kitchen and the initial investments in trucks, management, and logistics planning. We had been doing learning programs up until then, Leena recalled, Kitchens and meals, those was completely out of our expertise. We told the government, No, the first time they asked. It was a complete quantum jump for us to get involved in this. There were many challenges, and in order to begin to understand how to meet the initial goal of feeding 50,000 children in the pilot program, Leena and her team visited large kitchens such as those run by religious institutions and catering colleges. The team brought in technical experts to help learn about steam-based cooking, which had exacting requirements in terms of pressures; with steam the food had to be cooked a certain way, there was no room for error. Its OK if you fail in teaching children to read, Rohini noted, but there was no scope for failure here. The government asked the program to provide rice varieties, such as tamarind or biryani; Leena and her team introduced vegetables in the hopes of adding more nutrition, but the children picked them out, they were used to only eating potatoes, tomatoes. Leenas solution was to grate the vegetables so finely that they could not be picked out of the curry. Innovations like these were constant, but were always geared to the local palate. Naandis midday meal program cost Rs. 2.10 per child per meal for urban areas similar to Hyderabad, but over Rs. 3 for rural areas. Delivery costs were a significant portion of the overall expenses. Logistics were extremely complex; the meals had to be prepared to ensure secure and tasty food, and then delivered in metal canisters (similar to those used for milk) in time to be served while still warm. Naandi studied optimal distances for delivery of warm food in each region, given traffic patterns and congestion (40 kilometers); the food had to be delivered within 46 hours of cooking in order not to spoil. This required extensive delivery planning, with test runs by trucks in real time to find the fastest route during traffic. The team tested loading and unloading and used canisters filled with water to determine spillage rates. Additionally, the food had to be delivered securely, guaranteeing safe and untainted food. We have a driver and at least one or two lifters for each truck, Rohini explained. One of them must always stay with the food canisters, at all times. Everyone involved, from cooks to cleaners to drivers, took great pride and ownership in the project, because it is for children, Leena said; many had children in the schools served by the program. The entire crew was also fed by the kitchens. Some areas the kitchens served were a ways off the beaten track; in one area of Rajasthan, meals were carried by donkey to some of the outlying villages in the mountainside. We focus on solving each problem for each area, India is incredibly diverse, so replicating or scaling our original model is not straightforward, Leena said. By 2007, Naandis midday meal program, with Leena running it, fed about 500,000 children, 120,000 of these were in Hyderabad (Exhibit 2 provides a map of Naandis coverage). Soon, the program was on track to reach 1 million children; informally throughout the kitchen network everyone referred to these as Leenas children. All involved were agreed that to scale the program beyond Naandis reach would require the government to step in and coordinate it for all of India. Weve set this program up in as simple and streamlined a manner as possible, Leena noted. Much of it is self-sufficient and modular, so the government could replicate it in other regions. Rohini added, Weve provided proof of concept; but to reach all of Indias children will take a much larger and national perspective.

Global Alliance for Improved Nutrition

The Global Alliance for Improved Nutrition (GAIN) was committed to reducing malnutrition through the use of food fortification and other strategies aimed at improving the health and nutrition of populations at risk. Created at the United Nations General Assemblys Special Session on Children in 2002, GAIN was a Swiss Foundation funded by the Bill and Melinda Gates Foundation, USAID and CIDA. GAIN built partnerships between the public and private sector, enabling innovative solutions to improve nutrition on a large scale by providing financial and technical support. GAIN measured progress to

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demonstrate the return on investment, improve its program and communicate success. And GAIN advocated for better nutrition worldwide as a cost-effective way to make people and economies stronger, healthier and more productive. GAINs India office was located in Delhi, where Dr. Rajan Sankar oversaw the organizations efforts in India, Bangladesh and Pakistan. Dr. Sankar, an MD in clinical epidemiology by training, had worked in the armed forces for 25 years before getting into development work. He had spent years working on micronutrients, particularly iodine deficiencies, first for UNICEF and now GAIN. While at UNICEF he had led an initiative in partnership with Unilever, and had seen first-hand the benefits of bringing private sector and business to the table together. The Delhi office had a small staff, with six people overseeing a range of projects throughout Southeast Asia; consultants were brought on board as needed. The team directed five types of work: food fortification, performance measurement, and advocacy, Infant Young Child Nutrition and Investments and Partnerships. The office also oversaw grant management. As Dr. Brangre Magarinos, GAINs senior manager of Investments and Partnership Programs, based in Geneva, noted, We want to be sure we dont scope too broadly, so we are very selective. We want to be sure to support each project enough for it to succeed, rather than doing many projects, some of which may fail. Contrary to other fortification efforts which focused on creating demand, Dr. Sankar and his team worked on the supply side; as he said, Its so much easier, we see tangible results much sooner. And you can measure that the food is reaching the target population. However over the long term, he knew GAIN had to work with partners to create sustained demand. If you want to sustain this you have to create demand pull for it. It wont happen otherwise. He admitted to some of the challenges: You have to raise resources to do this over the long term, and in India the government has not been very successful doing this to date. GAIN had specific priority areas of focus for its efforts in India: nutrition for children under two years and pregnant women, and good feeding habits. General knowledge about nutrition, along with educating the public about how food processing removed nutrients and vitamins, was essential for long-term progress. Once children and their mothers understand good feeding habits, Dr. Sankar said, the knowledge transfers throughout the family, then they will naturally look for it through the rest of their life.

An Opportunity to Make a Difference

Two Possible Partners with Complementary Needs Britannia had been exploring ways to contribute to improving nutrition for years, and had several mainstream products with a nutritional focus, including breads. Britannia had provided supplies of customized biscuits to the United Nations World Food Programmed (WFP) for Afghanistan, Iraq and the tsunamihit areas of Indonesia, as well as supplying tribal belts in a few of Indias less developed states, such as Rajasthan, to help address their nutritional needs. Doing well by doing good, Vinita explained, was at the heart of companys way of doing business. This is an integral part of the way we are as a company, Neeraj added, We had been getting our feet wet in the space for a while. The company had also partnered in various education programs, providing micro-advocacy and sending educational materials home through children to reach parents to spread the notion of Eat healthy, Think better. The companys programs focused on driving awareness for healthy food habits and nutrition, and leveraged Indias popular storytelling medium to drive home the message of nutrition. By 2007, over 5 million children had been impacted, many of them in Indias so-called media dark states. Britannia had made prior efforts in the fortification area. Milk Bikis, a favourite household brand, which had always been associated with milk nutrition, was launched in 2006 as a product fortified with calcium, iron, iodine and 4 smart nutrients Vitamins B1, B6, B12 and D. Four biscuits provided the equivalent energy of a glass of milk in the tasty, fun form of a cream-variant biscuit with a smiley face and cream center, making a mothers task of providing nutritious food for her child that much easier. But to date these efforts had not been coordinated in a concerted tangible push, Neeraj noted. We also knew we cant do this on our own. We were looking to find a partner. The companys journey began in earnest when a workshop offered by GAIN and the World Bank Institute (WBI) brought several Indian food and nutrition companies together, and provided the genesis of the idea affordable nutrition.

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Vinita, Neeraj and PP were invited to Delhi, and after the presentation, they met with Dr. Sankar to continue their ongoing discussions about exploring opportunities. GAIN wanted to replicate their achievements in supporting fortification in China but had only recently established a presence in India. We focused closely on what the food companies could do, Dr. Sankar recalled. Wed been looking at this area and trying to put thoughts together on how to make a meaningful contribution, said Neeraj. How could we participate in a responsible manner? Our interest was prompted by our mission in the nutrition space, and our commitment to securing for Indias children the right to good food. We wanted to do whatever it takes to make that happen. With GAIN, Britannia focused on what kind of contribution the company could make. One of the first outcomes was to form a nutrition group with GAIN and other members to start the unique partnership in the school feeding program. Two things informed Britannias efforts to enter the fortification space: it had to be sustainable and it would be an integral part of the companys nutrition efforts. This is not about corporate social responsibility, Neeraj explained. This is the other side of the business coin for us. Whatever we do, we want to do it as sustainably as possible. We are a publicly listed company, a sustainable effort is the only way we can make an impact. PP and his R&D team had considered an iron fortified product, and had wanted to do small-scale clinical trials, but were hesitant due to political sensitivities.

For Naandis part, Leena and her team had been exploring opportunities to leverage the fact that Naandi fed an increasing number of some of Indias poorest children. But the hot meals, especially those in the rice-based areas, did not provide additional micronutrients. In March 2007, Leena and Naandis team, now with 8 kitchens running, decided to take on the added challenge of fortifying the midday meal offerings. The technology element was a challenge; How do we do this? Leena asked. The team called in experts on nutrient amounts, and cooking practices, with the overall concern to maintain taste. Children can be picky eaters, one staffer said. With the advent of fortification came the need for an even higher level of transparency. Food safety is our greatest concern, Rohini said. We are always worried about contamination, nothing can go wrong. The kitchens had experimented with ways to fortify wheat quite successfully, but providing fortification for rice-based meals remained a challenge . With its significant outreach infrastructure in the state of Andhra Pradesh (Indias fourth largest state by area and population), and close work with the government over several years, Naandi had extensive reach.

ENVIRONMENT AND SAFETY Several initiatives were continued by the Company as part of energy saving measures including a new generation oven piloted in one of its own units. The drive for energy conservation is always a key priority and Company continually strives to achieve this through process improvements and through enhancing equipment capability. Environment friendly fuels like propane, LPG, PNG and biodiesel were used for baking purposes wherever such fuels were available, to reduce pollution. As part of its overall safety initiatives, Company has implemented several safety measures at its Corporate Office at Bangalore mainly in terms of: Implementation of Fire Safety Measures in compliance with National Building Code and Fire Norms Creation of Emergency Control Room Emergency Preparedness and Evacuation

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Press Release
Britannia Nutrition Foundation shares framework for Securing Every Childs Right to Nutrition through scientific knowledge building and dissemination Awareness building.
Creating a platform for action On the eve of National Nutrition Week Organizes the 2nd BNF Symposium, New Delhi Indias Malnutrition: Combating the Hard Core New Delhi, August 31, 2010: Britannia, Indias leading food company has created the Britannia Nutrition Foundation with the belief that Every Child has a Right to Growth and Development which includes not just the Right to Food, but also the Right to Nutrition. The purpose of BNF is to provide a forum for organizations and experts in diverse fields who share the same conviction, to find business models and solutions for the multi dimensional nutrition challenge. Drawing from the commitment and knowledge of key experts in this area, BNF has drawn out a strong framework for effective action by focusing on three pillars Creating a platform for action the case for urgently addressing Malnutrition is compelling when you consider the following: 47% of children below 5 years in India are malnourished. Close to 70% of children in India suffer from Iron Deficiency. Prevalence of Low Birth Weight in India is about 30%. It is estimated that malnutrition costs the nation 4% of GDP in productivity losses. 55% of preschool children in India are underweight and 50% of preschool children in India are stunted.

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Community Caf set to serve up life skills for special school students
Students at Marlborough School, Sidcup, have got their New Year off to a great start after winning a grant of more than 5,000 from Britannia, part of The Co-operative Financial Services (CFS), to design and develop their own community caf. The donation for 5,475, made by the financial mutuals charitable Foundation, enables the school to complete its caf project - becoming the first special school to run such a caf and provide an enjoyable, interactive and engaging way to teach maths and real-life skills to up to 80 students with severe or complex learning needs. Nicola Rutherford from Marlborough School who applied to Britannias charitable Foundation, said: We were delighted to hear that our application had been successful, this is a great start to our New Year! Due to the complex education needs of our pupils we are always exploring new ways to challenge and engage them in the learning process. Britannias support will help us to provide real-life scenarios in our safe environment to develop confidence, independence and a greater understanding of maths and numbers breaking down community barriers and helping our students to reach their full potential. Elaine Clews, Britannia Foundation Manager, added: Britannias charitable Foundation can make real and lasting differences and, we are delighted to support the schools innovative project to give its young people the skills and confidence to play a more active role in their community. "We would welcome applications to our charitable Foundation from other community groups in Kent sharing our key priorities of promoting improvements to education, in particular numeracy and financial capability.

Grant win helps Crewe charity give families a new financial start to 2011
A Crewe based charity can help single families to get the New Year off to the best possible start after winning a grant from Britannia, part of The Co-operative Financial Services (CFS), to provide financial education and tackle social exclusion in the area. The donation for 3,460, made by the financial mutuals charitable Foundation, will enable South Cheshire CLASP to deliver two new programmes, enabling lone parents to take control of personal finance for themselves and their families during times of crisis and transition. Restoring confidence and self-worth in adults and young people, its range of weekly drop-in sessions and confidential listening and counseling services are available to all single families. Angie Bartlett, Project Manager at South Cheshire CLASP who applied to Britannias charitable Foundation, said: We were delighted to hear of the success of our application, this is a great start to the New Year! We are committed to creating opportunities that challenge disadvantage, poverty and social exclusion in our communities and, to helping lone parents to develop greater financial responsibility. Britannias support will enable us create stable lifestyles, give parents the skills and confidence to talk to their children about money matters and, nurture a more positive future for financially vulnerable families. Britannias charitable Foundation is one way the member-owned financial services provider gives back to the communities it serves. Elaine Clews, Britannia Foundation Manager, added: Britannias charitable Foundation can make real and lasting differences to local communities.

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South Cheshire CLASPs education program can help to raise levels of financial understanding and knowledge - helping the more financially vulnerable to develop the skills and confidence to make good financial decisions for themselves and their families. "We would welcome applications to our charitable Foundation from other community groups in South Cheshire that share our key priorities of promoting improvements to education, in particular numeracy and financial capability.

Britannia is the First Bakery Company in India to Remove Trans fats from its Biscuits
Mumbai, February 6, 2009: Britannia, one of Indias most trusted food brands, caters to consumers in all demographic and socio-economic segments across urban and rural India, through every day food like bakery and dairy products. Biscuits straddle nutrition, delight and convenience benefits and reach over 90% of all households in the country. Biscuits are consumed as healthy in-between meal fillers and make very effective energy providers (100 gm of most of Britannia biscuits provide around 10-15% of energy, proteins, required by an adult). The fortified range of products also provides vitamins, Iron & Calcium.

Britannia offers Chinese Poha

The Managing Director of Britannia Industries Limited, Vinita Bali sat down to eat poha and upma on Monday morning and leaned back to expound on the benefits of healthy eating.But the essential Indian delicacies have been taken to uncharted territories with variants like Chinese poha and Manchurian upma , lending a Chinese touch to the age- old breakfast menu. Bali and her Company launched and served these at an event in Mumbai, which is the market where the products are being launched under the ' Healthy Start' brand of Britannia. Other offerings in the range are oats and multi grain porridge and variants thereof. The packed foods are largely targeted at urban markets, where people have less time and more money. Britannia claims they are free of Trans fats, cholesterol and preservatives. They can be turned from packet to meal in five minutes. The ready-to-cook launches tap into the growing breakfast foods market, and follow in the footsteps of growing business in the segment from PepsiCo, Kelloggs and MTR Foods. Britannia is a late entrant but believes it has the strategy right. Our research showed that Indian consumers were desirous of a breakfast solution that combines convenience, health and taste," said Bali. The insight was that everybody believed that breakfast was the most important meal of the day, yet more than 50 per cent of Indians end up skipping breakfast, and most of them are people like us living in big cities," Bali told the FPJ. Britannia has been aggressive in the biscuits market and has several variants on the health platform. This is the first time the company offers ready-to-cook foods. The company reported sales of Rs.1,080 crores for the December quarter, a growth of over 20 per cent.

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Magazines Release
BAKERY REVIEW FEATURE
These cakes are available in seven awesome yummy flavours including fruit, chocolate, orange, pineapple, milk, butter sponge and berry cherry, in the form of bar cake, chunk cake and cupcake. Though they are primarily conceived for the children, but there is no reason why adults would not enjoy them. They act as the perfect filler snack, just so filling and wholesome to keep you filled up till your next meal. This health with taste combinations are also modestly priced, ranging from Rs.4 to Rs. 30. For Diabetics, With Taste Britannia introduced NutriChoice range of healthy biscuits way back in 1998. The brand is targeted towards overall health and wellness of individuals. Recently, Britannia Industries Limited took another important step towards smart nutrition when it came up with its NutriChoice Diabetic Friendly Essentials range of snacks to meet the nutrition needs of diabetics, without compromising on their tastes. This couldnt have been timelier as diabetes has posed itself as one of the most challenging lifestyle diseases plaguing the urban India. In fact, one in eight Indian adults is either afflicted with diabetes or is at the high risk of having diabetes. Our NutriChoice Diabetic Friendly biscuits are specially formulated to provide a snacking choice to diabetics, proffered Vinita Bali, Managing Director, Britannia Industries Limited. The people with diabetes need to have small but frequent meals to prevent extreme swings in blood glucose levels. NutriChoice Diabetic Friendly Essentials are create with ingredients such as oats and ragi, which are known to manage extreme swings in blood By Swarnendu Biswas The Healthy Drives of In the recent years, Britannia Industries Ltd., one of Indias most trusted food brands with a diverse range of portfolio of products in cakes, biscuits, bread and dairy categories, is making several healthy endeavours in the bakery industry, which are expected to not only infuse health in our snacking and breakfast habits, but can also reshape the contours of the Indian bakery industry in the times to come. This food conglomerate which has the distinction of winning the Most Respected Company Award 2011 in the FMCG segment, from Business world, has come with its unique Acchaiyon Se Bhara cake. Nowadays, the kids want a delightful snack, which often are lacking in health, whereas mothers want their kids to eat healthy. These contrary currents of need are bridged by the tasty and healthy options provided by Britannias Acchaiyon Se Bhara cake, which is a healthy, wholesome and filling snack with the goodness of milk, eggs and fruits, which can serve as a rich source of nutrients and proteins. These cakes are well absorbed by the body and give you a satisfied feeling of fullness. Apr-May 11 25

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Company Release
Britannia Net Profit Increases 25% for the year Recommends Dividend of 325%
Mumbai, May 27th, 2011: Britannia Industries Ltd. (BIL), Indias leading Food Company, reported sales of Rs. 42,137 MM for the year ended 31st March 2011, a growth of 23.8% over the previous year. Profit from operations at Rs. 1,833 MM grew 40.2% and Net Profit for the year at Rs. 1,453 MM increased by 24.7%. Consolidated sales of Rs. 46,051 MM for the year ended 31st March 2011 grew 22.1% over the previous year. Net Profit for the year at Rs. 1,343 MM increased by 30.2%. The Board of Directors recommended a dividend of 325% i.e. Rs. 6.50 / share. Commenting on the performance, Ms. Vinita Bali, Managing Director, said, "We have maintained a healthy growth momentum and improved margin in a year of intense competitive activity and high commodity inflation. Our focus on consumers, consumption behaviour and cost effectiveness reduced complexity & improved operational efficiency. Several new to market products like NutriChoice Diabetic Friendly, Treat Choco-Decker, and Britannia Healthy Start were launched during the year to tap new opportunity segments. "

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Interview of Managing Director Mrs Vinita Bali

I think Britannia is in a sweet spot Vinita Bali says Britannia has a rich and robust pipeline of ideas of what to do with its brands Britannia Industries Ltd.s growth over the past three decades has mirrored the rapid strides made by the Indian economy, which has put more disposable income in the hands of the people. Revenue has grown from Rs. 100 crore in 1981 to Rs. 1,100 crore in 2001 and Rs. 4,600 crore in 2011. Britannias managing director Vinita Bali in an interview said growth has come across food categories. In the past year, the company has extended brands such as Tiger from biscuits to dairy, Treat from biscuits to chocolate, and NutriChoice to a diabetic snack. Edited excerpts:

Q How was last year for you? A Well, to summarize, we are looking at a top-line growth of 25%, a bottom-line consolidated growth of 30%. Stand-alone, Britannia is 25% and 25%. We are talking about a 60 basis points (bps) improvement in margins and a 50 bps improvement in share (A basis point is one-hundredth of a percentage point). Overall I would say that is strong top line. The performance is driven by 15% volume and the balance out of that is coming from a balance of pricing and mix.

Q The fourth quarter of the last fiscal again saw a lot of volatility, with wheat prices increasing. Should prices be raised again? A You know, if you look at our business between last year and this year, the change in trajectory is really a function of two things. You know what we have done in terms of revenue management and the other thing is what we have done in terms of operational improvement. If you look at our results, the rise in the price of commodities has been 29% almost, so having absorbed that and fuel and other costs, we have actually improved the margin of the business by 60 bps.

Q Youve always thrived on the challenge of turning around companies. That part of it is over with Britannia. A A turnaround is nothing but a different way of a build-up. Weve been through the first five or six years, and the next five or six years like the last five or six will be different because consumers are different, markets are different, preferences are different, aspirations are different of people as well as us. I keep coming back to my favourite theme, which is India right now is so dynamic that frankly anyone sitting here can say five years from now, people will be drinking this and eating this and driving this car and using this phone. I dont think we can say that.

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Q What is it that gets you excited now? A What keeps us excited is having a robust funnel of new initiatives. What keeps us excited (is) what we do with our brands. What keeps us excited are the extensions we can do. Take a brand like Tiger or take a brand like Treatit is moved from Treat being a biscuit to Treat being a chocolate with Chocodecker. What keeps us excited is the fact that we have a bread, cake and rusk portfolio which has grown more than five times in the last five years. What keeps us excited is that we have a dairy portfolio which has doubled in four years. What keeps us excited is to create a huge funnel of these products from a consumer point of view.

Q Most companies in the packaged consumer goods sector are talking about doubling turnover. What are Britannias plans? A You know I can sit here and tell you we will double, triple, quadruple, but that means nothing. I would rather be more concrete and say that we have got a rich and robust funnel of innovations. We have a rich and robust pipeline of ideas of what to do with our brands. You know that is real. The rest is all wish list.

Q You have been slowly adding on to products, whether it be NutriChoice, Tiger, dairy. How are you managing the changes in the product profile? A I would say we have been fast adding on products (laughs). The changes are coming in a lot of areas. We grew our Rs. 100 crore revenue in 1981 to Rs. 1,100 crore in 20 years in 2001 and to Rs. 4,600 crore in 10 years from there. I think Britannia is in a sweet spot.

Q How does the portfolio mix look now? A Our bread, cake, rusk is more than 10% of sales; dairy is 5%; overseas is 7-8%.

Q How do you see the mix changing? A I will answer this in two or three different ways. I dont see biscuits going away for the very simple reason that we are a country of over a billion people and on average we consume less than 1kg per person per year. Even if I removed 400 million people from this it is still 1.5kg of biscuits per person per year. When I create a diabetic biscuit, its not just a biscuit, its a snack for someone. We have to separate out the form from what I am selling to the benefit that I am giving the consumer. I think there is going to be a huge growth in biscuit, I think there is going to be a huge growth in bread and cake rusk, milk and dahi (yogurt) and so on. For the very simple reason that if you look at the entire market for food in India, only 9% of that is packaged and branded. So 91% of food that we are consuming is unbranded.

Q Are you looking at transforming from a biscuits, cake, rusk, dairy, bread company to a food company? A I dont believe in nomenclature and titles. Food is anything you eat. I am including snacks in that and I am including beverages in that. I am looking at everything that is bought and consumed. So I am using food loosely in that sense.

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Q What are the trends that you will cater to? A The trends are nothing unique to us. I think the trends are for everybody to see. There is more and more emphasis on well-being, wellness, wholesome food. That is why we got high-fibre, multigrain bread, diabetic and fortification with the renovated Marie Gold that has 10 vitamins, or we have fortified bread with micro-nutrients. So our business is about making food and drink wholesome and enjoyable.

Q Your competitors also finally got into the market last year with their products, such as Oreo cookies. A There are lots of people. The Indian marketplace today is so dynamic that everybody and his cousin is going to be introducing all kinds of products. Those are local companies, those are multinationals, those are companies which are looking to come to India, and those are companies already present in India, and I think that is what creates the dynamism in India.

Q Consumer packaged goods companies are all also getting into retail. A We already have a retail business in the form of Daily Bread, which has been growing very nicely, its extending and expanding. Im not going to tell you exactly how many, but we have a large number of outlets in Bangalore, weve got operations through franchisees in Goa as well as in Hyderabad. Again, that is a business that is growing in high double digits.

Q Would you look at acquiring smaller chains? A If there is a good value accretive opportunity, well certainly look at it.

Q Are you only looking at domestic opportunities? A Were open to looking at, but I would say that definitely wed look at India for one simple reason: if everybody is looking to India as a growth market, why would we sitting in India want to look at western Europe.

Q Would you tell us what areas youll look at? A Ive said it many times nowwere in a food, snacks, beverages business and anything in that business is something that wed be willing to evaluate.

Q Are you in talks with anybody at the moment? A Frankly, if I were, would I tell you? (Laughs) Im not commenting on that.

Q Besides Daily Bread, will you look at other formats of retail? A If you go to Delhi, in certain areas, youll see a bicycle cart branded Britannia and the guy goes around selling Britannia bread. Now I dont know what to call it, but thats a direct-to-consumer type of a delivery model business.

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Q The biscuit market in India has been growing at 6%, but given your higher penetration levels relative to your competitors, do you expect to grow faster than them? A We are growing faster. Last year our volume growth was 15% and our revenue growth was 26%, so Im not sure in how many different ways I can answer the same question. We are in the industry, we are growing double digit, we have an aspiration and ambition to continue a high growth trajectory. But market leadership seems distant. Q What is distant? Parle is still No. 1. A I dont agree with that at all. Parle is No. 1 in glucose, which is a category that has been declining. Glucose used to be 33% of the total biscuit market; it is now 27% of the total biscuit market. If you look at the number of packs sold, we sell more packs than them. To me, that doesnt really matter, it is the share of the consumption, its the brand or company, and if you look at it narrowly in terms of biscuits, its one thing. If you look at it broadly in terms of baking and if you include things like cake and rusk and everything else, then it tells a different story.

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Case Study

According to THE ECONOMIC TIMES survey:

During the survey, the respondents were asked to rate the 100- gram Tiger and the 100-gram Parle-G glucose biscuits with respect to milky taste. It is significant to note that only 141 respondents of the total 200 were able to rate the Tiger brand whereas 169 respondents were able to rate Parle-G brand. Analysis: Tiger Biscuits: The researcher inferred that 40.5% of the total respondents, rated Britannia Tiger glucose biscuits milky taste asjust right, 26.5% rated it as a little low whereas only 3.5% said that the brand had a very low milky taste. None of the respondents rated the milky taste of Britannia Tiger glucose biscuits as a little high or very high, whereas 29.5% of the respondents were unable to rate the brand with respect to its milky taste. Parle-G: Biscuits: In the case of Parle-G glucose biscuits, 2.5% of the respondents rated the milky taste as a little high, 75.5% said that it was just right and according to 6.5% the milky taste was a little low. None of the respondents rated the milky taste of Parle-G biscuits as very high or very low, whereas 15.5% of the respondents were those who were unable to rate the brand for its milky taste. Opportunity is always knocking, goes a splinter thought of the popular aphorism. The trick is to open the door every time it knocks. It clearly indicates that the price increase of 100-gram Parle-G glucose biscuits is a very good opportunity for Britannia to achieve its objective of making the companys Tiger glucose biscuit brands the number one in the glucose biscuit segment. Though the 50-paisa price increase of the 60-year-old 100-gram Parle-G brand seems to be a major price change, it has been found to be very significant for the just 7-year-old Britannia Tiger brand. The research of the company show that the 50-paisa price increase of 100-gram Parle-G brand has really added an appreciable percentage of the glucose biscuit consumers to Britannias 100 gram Tiger brand customer segment and also a notable percentage is likely to be added to it. The major reason that has driven Parle-G customers to change their brand was found to be the 50-paisa increase in the price of Parle-G, thereby indicating the price sensitivity of the customers. In the case of Parle-G brand, the researcher found that its the taste, which contributed towards the customers brand loyalty. Parle- Gs long presence in the market didnt have much impact on the consumers brand choice; rather it was the taste that deferred customers from switching to the other brands of glucose biscuits. The Parle-G customers are not against consuming the Tiger brand provided they get the same quality taste as that of the Parle-G brand. They pointed out that the Tiger brand has a little lower milky taste and is a little sweeter than it should be. Thus, the company must maintain the price and concentrate on the brand taste to take maximum advantage of this opportunity. Also, marketing efforts are required to make the consumers aware of the brands price and make them more of nutrition-conscious so that they can understand the Glucose H-Force Biscuit concept.

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Case Study
Britannia Industries Ltd, Indias leading biscuit company, expects to start work on its second unit in Orissa soon. "We have applied to the Orissa government for 10-12 acres of land near the twin city of Cuttack and Bhubaneswar and expect to get a final nod on it within weeks", said Vinita Bali, Managing Director, and Britannia Industries. Bali, said the proposed unit will produce different varieties of biscuits mainly for the Orissa market. The unit, to be built at cost of Rs 40 to 45 crore, will have an installed capacity to produce about 2,500 tonnes of biscuit per month. It being a labour intensive industry, the unit will employ about 500 to 700 persons. This will be the second unit of the company in Orissa. It presently has a 1,000 tonnes per month capacity biscuit unit in Mayurbhanj, bordering West Bengal. The company, at present, has manufacturing facilities in Uttaranchal, Delhi, Chennai and Kolkata. Should the Odisha government give them 10-12 acres of land in Bhubaneswar-Cuttack for an investment of only 45 acres and employment of 700 people, most of which will be perhaps unskilled workers? Also, why do they need to establish it in Bhubaneswar-Cuttack? Why not in a rural area where 700 unskilled jobs will be appreciated more and where land is less of a concern.

Crisis Kraft files copyright suit against India's biscuit maker Britannia
American packaged Foods Company Kraft Foods Inc. on Tuesday filed a law suit against Indian biscuits and dairy business company Britannia Industries for trademark and copyright violations of its popular Oreo cookies, The Economic Times reported. "Treat-O" biscuit, launched recently by Britannia is a copy of Krafts cream-filled sandwich cookies, the US packaged food maker said in a suit filed in the Delhi High Court. Kraft has sought an injunction to prevent Indian industrialist Nusli Wadia-owned Britannia from making, selling, marketing or advertising any product that has an element of its Oreo cookies. The report also said Kraft has sought damages for infringement of trademark and copyright of its Oreo brand of cookies. Kraft said in the suit Britannia has copied design etchings, which the former refers to Oreo cookie trade dress, such as florets and inner rings of Oreo biscuits. The lining on Britannias product, inner rings and florets and their placement on the product are identical to the original Oreo cookies, Kraft said. The American firm also alleged that the Britannias brand name Treat-O had an emphasis on O, which is inspired by its Oreo. The report said Britannia spokesman refused to comment citing it had got no communication on the issue. Krafts Oreo cookies is being imported and sold in India after it was registered in 1991. In 2007, the Indian bakery and dairy products maker was involved in a legal tussle with French foods company DANONE alleged infringement of its Tiger biscuit and it played the role of a plaintiff. Subsequently, DANONE ended its joint venture with Britannia and established an independent company in India.

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Britannia Biscuits India Sued By Kraft Foods Over Treat-O Biscuit Copy
Britannia Biscuits India has been sued by Kraft foods, as the company claims that the Treat-O Biscuit is a direct copy of their Oreo Cookies. Treat-O biscuits have recently been launched in India by the Wadia Group owned Britannia Industries, and Kraft has filed a suit against this product saying that it is directly a copy of their sandwiched and cream filled cookies named Oreo. Kraft Foods is a US based eatables manufacturer and is looking forward to place in an injunction over Britannia, so as the company is unable to advertise, sell or even produce the product. Britannia has not yet commented so far but has only said that they have not received any sort communication from Kraft Foods. This is the second time that Britannia is involved in a legal tiff with an industry. In the year 2007 Britannia had dragged DANONE, a French foods manufacturer, to a Singaporean court over a trademark issue over the Tiger Biscuit brand. Kraft on the other hand will now seek damages against infringement of trademark and copyright.

Kraft Foods' suit: Britannia to take 'appropriate action'

Britannia Industries, the maker of Tiger biscuits, today said it will take right and appropriate action as it always has against the lawsuit filed by US-based Kraft Foods for alleged trademark and copyright violation of its Oreo cookie brand. In a suit filed on Tuesday in the Delhi High Court, Kraft said the Bangalore-headquartered biscuit makers newly-launched Treat-O snack copied its iconic chocolate and cream-filled sandwich cookie. It alleged Treat-O, with an emphasis on O, was inspired by Oreo and Britannia also copied the specific design like florets and etchings. Kraft has sought an injunction to prevent Britannia from manufacturing, selling, marketing or advertising any product similar to Oreo cookies. The US-based confectionery maker has also sought damages for such violations and unfair competition to its Oreo brand of cookies. Harish Bijoor, a brand consultant, said Kraft had indeed spent a good amount of time and dollars to build a fabulous brand, Oreo, and they will not let go of Britannias Treat-O lightly. Oreo is an Oreo and in India, it costs a lot but people do buy it. Treat-O is too close for comfort. I think Britannia may have to relook at this, he said. This is the second time that Britannia has entered into a legal tussle with a global food company over patent issue. Britannia had taken French food company Danone to a Singapore court, alleging trademark infringement of its Tiger biscuit. It settled the case with Kraft after Danone sold its biscuits business to the latter. Industry experts said the timing of the dispute was important, as Kraft after taking over Cadbury was planning to manufacture and sell biscuits in India. It is also crucial for Britannia, as the company is looking to sell more premium products, which will fetch better margins. Britannia is consciously looking at deriving more value for its products, as it battles with Parle at the other end of the spectrum in the glucose segment. Britannia has been maintaining that the segment is growing slowly and people are exploring options. Britannia reported a 39 per cent drop in its bottom line at Rs 64.7 crore in July-September. Revenue grew by 27.5 per cent to Rs 1,094 crore. Britannia shares today closed 0.10 per cent higher at Rs 410 on the National Stock Exchange.

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Britannia in Double Trouble

US positioned Kraft Foods has taken legal action against Nusli Wadia, who owns Britannia industries for trademark infringement of its well-liked Oreo cookies. Kraft assert that Britannias lately pioneered Treat-O biscuit is a replica of its cream-filled sandwich cookies, in a suit filed in the Delhi High Court. According to Kraft, Britannia has clichd the explicit design such as the florets and inner rings of Oreo cookies. It alleged that the brand name, Treat-O, with a highlight on O, was enthused by Oreo. It is also stated that the US colossal wanted an injunction for preventing Britannia from manufacturing, selling, marketing or advertising any product with any idiosyncratic constituent of Oreo cookies. Ascertaining the actuality of the statement, this is the second case in four years where Britannia is implicated in a legal altercation with a multinational food company over trademark. (The previous one was with French food colossal DANONE). The plausibility of the claim can be determined after analysing the package design and the style in which Treat-O has been written. Considering the resemblance between the competing marks and relating to Warner Bros. Entertainment Inc. v. Harinder Kohli and Ors., 2008 (38) PTC 185 (Del), Kraft will have to provide evidence that the targeted market is inefficient to differentiate between the two marks. At the face of it, Treat-O and Oreo sound fairly different to me.

'Biscuit King' Pillai's widow awarded Rs.10 lakh compensation (Lead)

The Delhi High Court Friday awarded Rs.10 lakh to Nina Pillai, widow of 'Biscuit King' Rajan Pillai, on her petition seeking compensation from the central government for his custodial death in July 1995. Delivering the judgment, Justice S. Muralidhar said: "In these circumstances, it is clear that the lack of medical personnel and the faulty system of Tihar Jail were responsible for the prisoner not being given medical treatment as soon as possible." He asked the Delhi government to pay Nina Pillai Rs.10 lakh within four weeks, along with Rs.20,000 as litigation cost. "The petitioner will deploy the compensation amount in any charitable cause of her choice," the court said. It also asked the government to implement the recommendations of the panel which probed Pillai's death in custody. "The government will, within a period of three months from today, ensure that the suggestions made by the Leila Seth Commission of Inquiry (LSCI) in its report for improvement of the system at Tihar be adopted," Justice Muralidhar added. Pillai, whose takeover of Britannia Industries earned him the title of 'Biscuit King', was arrested in New Delhi July 3, 1995, for an alleged corporate offence in Singapore and died while in custody July 7, 1995. A dispute with his principal partner, a group of investors led by F. Ross Johnson, former president of R.J.R. Nabisco Inc, led to the Singapore's commercial affairs department launching prosecution against Pillai between March and August 1993. On April 10, 1995, Pillai was convicted under Sections 409 (criminal breach of trust) and 420 (cheating and dishonestly inducing delivery of property) of the Penal Code of Singapore. As the court was to take up arguments on the question of mitigation of sentence, Pillai left for India and the court then issued non-bailable warrants for his arrest. India's Central Bureau of Investigation (CBI) was sent a copy of the warrant for tracing and detaining Pillai for extradition. 110

The CBI did not find Pillai at his Mumbai address, while Nina Pillai filed an application before a Mumbai court April 15, 1995, for grant of anticipatory bail to her husband. The plea was rejected and she then approached the Bombay High Court which also dismissed her plea. On April 28, 1995, Pillai surrendered before a magistrate in Thiruvananthapuram. He also filed an application for bail and was granted interim bail till May 5, 1995. Thereafter, the Kerala High Court took up the case and called for the records. A larger bench was constituted which quashed the bail order. However, Pillai did not surrender and was arrested by the CBI from a five-starh otel in New Delhi. He was brought before a local court, which remanded him to judicial custody. Pillai was then taken to the Tihar jail. While in judicial custody, he was shifted to the Deen Dayal Upadhyaya Hospital due to health problems, where he died. Earlier, the government argued that Pillai died due to excessive drinking and improper medical treatment, but not due to custodial torture as alleged. In her petition, Nina Pillai claimed that her husband was a "sad victim of potent admixture of brutality, torture, atrocity, insensitivity, recklessness and negligence" of the state. "The LSCI noted that the ambulance was just like an ordinary van and had no medical fixtures and facilities or even a bed for putting the stretcher," states the court order.

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Branding has been around for centuries as a means to distinguish the goods of one producer from those of another. In fact, the word brand is derived from the Old Norse word brand, which means "to burn," as brands were and still are the means by which owners of livestock mark their animals to identify them. According to the American Marketing Association (AMA), a brand is a "name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition. Thus, the key to creating a brand, according to the AMA definition, is to be able to choose a name, logo, symbol, package design, or other attribute that identifies a product and distinguishes it from others. These different components of a brand that identify and differentiate it can be called brand elements. Brand elements come in many different forms. For example, consider the variety of brand name strategies that exist. In some cases, the company name is essentially used for all products (e.g., as with General Electric and HewlettPackard). In other cases, manufacturers assign individual brand names to new products that are unrelated to the company name (e.g., as with Procter & Gamble and their Tide, Pampers, Iams, and Pantene product brands). Definition: An identifying symbol, words, or mark that distinguishes a product or company from its competitors. Usually brands are registered (trademarked) with a regulatory authority and so cannot be used freely by other parties. For many products and companies, branding is an essential part of marketing. Branding: Entire process involved in creating a unique name and image for a product (good or service) in the consumers' mind, through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers. Brand Awareness: Brand awareness is a marketing concept that refers to a consumer knowing of a brand's existence; at aggregate (brand) level it refers to the proportion of consumers who know of the brand. Brand Equity: Brand equity refers to the marketing effects or outcomes that accrue to a product with its brand name compared with those that would accrue if the same product did not have the brand name and, at the root of these marketing effects is consumers' knowledge. In other words, consumers' knowledge about a brand makes manufacturers/advertisers respond differently or adopt appropriately adept measures for the marketing of the brand Brand Strategy: A plan that employs a unique set of design tools - logo, palette, typefaces, formats, images, and language - created for an organization and applied to all its communication tools: annual report, letterhead, business cards, packaging.

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Brand Image: A positive brand image is created by marketing programs that link strong, favourable and unique associations to the brand in memory. The definition of customer-based brand equity does not distinguish between the source of brand associations and the manner in which they are formed; all that matters is the resulting favourability, strength and uniqueness of brand associations. This realization has important implications for building brand equity. Besides marketer-controlled sources of information brand associations can also be created in a variety of other ways: by direct experience; from information communicated about the brand from the firm or other commercial or nonpartisan sources.

THE TOP 10 COMPANIES IN FMCG SECTOR

1. Hindustan Unilever Ltd. 2. ITC (Indian Tobacco Company) 3. Nestl India 4. GCMMF (AMUL) 5. Dabur India 6. Asian Paints (India) 7. Cadbury India 8. Britannia Industries 9. Procter & Gamble Hygiene and Health Care 10. Marico Industries Parle tops the list in terms of volume Britannia is the numero uno in value terms

The annual turnover of the organized sector of the biscuit manufacturers is Rs. 80 billion in 2007.
In terms of volume biscuit production by the organized segment is estimated at 1.30 million tonnes. In the organized sector, the industry is dominated by Britannia and Parle, which account for 70 per cent of the industry's volumes. Britannias market share stands at Rs 27 billion. While Parle derives a large portion of its revenues from low-priced biscuits. Parle-G and Britannia derive a fairly large share of their revenues from the medium- and premium varieties. In fact, Britannia's market share in the medium and premium varieties is significantly higher. Other organized players include domestic players like Bakemans, Champion, Kwality, Priya and MNCs like SmithKline Consumer, Kelloggs, Sara, Heinz, Excelsia (Nestle) and United Biscuits. The annual production of biscuit in the organized sector continues to be predominantly in the small and medium sale sector before and after de-reservation. The annual production was around 7.4 Lakh tonnes in 1997-98. In the next ten years, biscuit production witnessed an annual growth of 10% to 12%, up to 2007-08. The annual Growth showed a decline of 3.5% in 2000-01, mainly due to 100% hike in Central Excise Duty (from 9% to 16 %). Production in the year 2001-02 increased very marginally by 2.75% where in 2002-03 the growth is around 3%.Thereafter the annual growth increased to over 8 %.

The Federation's estimate for the year 2007-2008 indicates a growth of approximately 8% to 9%. However the average utilization of installed capacity by biscuit manufacturers in the country has been a dismal 60% over the last decade up to 2001-02. The average utilization of installed capacity after 20052006 has been over 85%.

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Though de-reservation resulted in a few MNCs, i.e. Sara Lee, Kelloggs, Glaxo SmithKline Beecham, Heinz etc. entering the biscuit industry in India, most of them, with the exception of SmithKline Beecham (Horlicks Biscuits), have ceased production in the country. On the other hand, import of biscuits, especially in the high price segment has started from 1998-99, but however, the quantum of imports has not so far increased alarmingly and has remained at around 3.75% of the consumption of biscuits in the country. Exports of biscuits from India have been to the extent of 7.5% of the total production. Exports are expected to grow further in the year 2007-08 and beyond. Biscuit is a hygienically packaged nutritious snack food available at very competitive prices, volumes, and different tastes. According to the National Council of Applied Economic Research Study, biscuit is predominantly consumed by people from the lower strata of society, particularly children in both rural and urban areas with an average monthly income of Rs. 750.00.

Biscuits can be broadly categorized into the following segments: Biscuit Category Annual Production in Percentage Glucose 44% Marie 13% Cream 10% Crackers 13% Milk 12% Others 8%
In recognition of industry's obligations towards the community, being a part of it, biscuit manufacturers supply biscuits to the social welfare agencies in all States for the benefit of school children, senior citizens, and other needy sections of the society. FBMI (Federation of Biscuit Manufacturers of India) Members have always responded positively to our appeal as also by the Government, to rush truckloads of biscuits to the people affected by earthquakes, floods, famine etc. The industry has also participated in supplying biscuits to the people of war ravaged Afghanistan and presently to the Iraqi people, under the aegis of the UN. As regards the consumption pattern is concerned. surveys and estimates by industry from time to time indicate the average consumption scenario in the four Zones have been more or less close to each other, as below:

Northern States: 28% Western States: 25% Southern States: 24% Eastern States: 23%
Though India is considered as the third largest producer of Biscuits after USA and China, the per capita consumption of biscuits in our country is only 2.1 Kg., compared to more than 10 kg in the USA, UK and West European countries and above 4.25 kg in south cast Asian countries, Le. Singapore, Hong Kong, Thailand, Indonesia etc. China has a per capita consumption of 1.90 kg, while in the case of Japan it is estimated at 7.5 kg. Biscuit is a comparatively low margin food product in the PMCG (Packaged Mass Consumption Goods) sector. The commodity is also price sensitive, as a consequence of which, even when the Excise Duty was doubled on biscuits in 2000-01 biscuit manufacturers, including the major brands, were not able hike MRPs to the extend of the steep increase in the Duty. Besides lack of technology upgradation in manufacturing, packaging etc has also been a factor affecting our industry, along with inadequate financial credit and support particularly for the medium and smallscale biscuit units.

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Biscuit manufacturing as well as other bakery products like Bread etc are agro based industries, with the major inputs-wheat, flour/Atta, sugar, milk vanaspati/vegetable oil etc. all being agriculture produces.

Effective Brand strategy adopted by Britannia tiger biscuits:

1. Britannia has been investing significantly in higher and better quality of human resources both at the front end and at the back end. It has sharply segmented its go-to-market strategy and unlike an earlier focus on simply increasing the number of outlets it covered. 2. Britannia now has separate teams for general sales, modern trade, institutions, and semi-urban and rural markets. It is building strong capabilities in each of these segments. 3. Britannia has been working with an international consulting agency for building capabilities shopper understanding as opposed to consumer understanding. 4. In 2008, Britannia divided its product portfolio into two distinct categories: "health and wellness" and "delight and lifestyle." Products such as Tiger glucose and NutriChoice biscuits fall under the former category, while Good Day and Treat fall under the latter. Each category is headed by a senior executive responsible for outlining distinct growth strategies. 5. Other initiatives include introducing personal consumption packs to attract youth and people on the move, adding transit points such as bus stops and small roadside shops to its distribution network, and addressing workers in the business process outsourcing industry as a potential new market. 6. Britannia has doubled its ad spending in the last three years. It is also working to increase trade marketing visibility and, for the first time ever, has signed on with a trade marketing agency. According to one of director of Britannia company Mr.Mehta, Britannia plans to increase advertising and marketing spending to 10% to 12% of sales over the next few years from a current 7%. 7. On the infrastructure front, Britannia has added 200,000 tons of annual capacity, an increase of about 60%. It has also devised a longterm distributed manufacturing stratergy, put in place a continuous replenishment supply efficiency system, and strengthened its supply chain management significantly.

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Lacto Calamine, Britannia Bourbon in Rebrand 100 Notable list

Lacto Calamine and Britannia Bourbon biscuits are the two Indian brands that have been selected by Rebrand 100 in its winner showcase for 2010 in the Notable category. The Rebrand 100 Global awards recognises the best in rebranding exercises from around the world that effectively meet its strategic goals, while maintaining strong loyalty among its consumers, and is open to global organizations, Fortune 50 corporations, small businesses, accomplished entrepreneurs, respected nonprofit organizations, cities, and renowned universities from around the world Lacto Calamine and Britannia Bourbon biscuits are the two Indian brands that have been selected by Rebrand 100 in its winner showcase for 2010 in the Notable category. The Rebrand 100 Global awards recognizes the best in rebranding exercises from around the world that effectively meet its strategic goals, while maintaining strong loyalty among its consumers, and is open to global organizations, Fortune 50 corporations, small businesses, accomplished entrepreneurs, respected non-profit organizations, cities, and renowned universities from around the world. In the case of Britannia's Bourbon biscuits, the brand had been traditionally placed in the Treat portfolio in Britannia, a kids indulgence brand whereas Bourbon goes in the adolescent/adult indulgence category. The task was to align the name and positioning of the brand to its audience. The brand needed to reflect the attitude of the target consumer and to be launched as a category in its own right. The idea, therefore, was to study the target consumer psyche, their buying patterns and lifestyle that could be reflected on the pack. In the case of Lacto Calamine, the brand had enjoyed significant equity in the market as a trusted skincare solution provider. Over the years, there had been a shift in the users' perception of the brand from a skincare solution provider to Do Good skincare product. The brand needed to be aligned to its perception and positioned in the cosmeceutical skincare space and the naming and positioning needed to be aligned to its audience. The limitation was the brand name (as an ingredient descriptor), as it made it difficult to launch products that did not contain the specific ingredients. The brand was abbreviated to LC, which could serve as the umbrella under which multiple products would get launched. During the first phase, the products will come with LC and the name Lacto Calamine. Eventually, they will carry their own category specific name under the LC umbrella. Commented Ashwini Deshpande, founder director and principal designer, Elephant Design + Strategy, To transform a nearly cult brand and make it relevant to the current time, space and user and yet remain lovable was the big challenge in rebranding Lacto Calamine. We succeeded in creating a contemporary look and feel and yet maintaining its classic appeal. Our mandate also included building a packaging architecture for future brand extensions in variants, products and formats. Through the promise of Skisurance, Lacto Calamine is well on its way to building a robust portfolio. On the Bourbon brief, she commented, "The challenge was to express the vibrant experience in totality and bring it alive for the young. Somehow, this amazing product with its own die-hard fan following never got its due as a stand-alone brand before. It was just bundled in the Treat cream biscuits portfolio earlier. With this rebranding exercise for Bourbon, we are happy to give it its rightful place as Bourbon, The Original.
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The 2010 jury comprised of Monica Au, managing director, Landor, Hong Kong; Friederike Biegel, director of strategy, Peter Schmidt Group, Germany; Marc Cloosterman, CEO, VIM Group, The Netherlands; Ashwini Deshpande, founder, director and principal designer, Elephant Strategy + Design; Bill Gardner, president, Gardner Design - founder, logolounge.com; Kit Hinrichs, principal and creative director of Studio Hinrichs, San Francisco; Uche Nworah, channel brand manager for Glo, Nigeria; Robbin Phillips, courageous president, Brains on Fire and Paula Stafford, executive vice president, Callison.

BRAND AUDIT OF BRITANNIA BOURBON THE ORIGINAL

A. BRAND DESCRIPTION 1. BRAND IDENTIFICATION & HISTORY: Thick, rich and delicious chocolate sandwiched between two crunchy chocolate biscuits topped with sugar crystals! This definitely calls to indulge ones dark side. The brand we have selected for this project work is none other than Britannia BOURBON. India's first and favourite Bourbon's sweet adventure began in 1955. Since then, Bourbon lovers across the country have been caught opening this chocolate couplet, licking the cream, and nibbling at the melt-in-your-mouth biscuit, bit by bit. Some have been witnessed chomping it whole, at one go. Some have been noted to alternate it with sips of coffee; others team it with lots of gossip and gupshup, while a few have been observed enjoying it with a book. And some have been seen reluctantly sharing their Bourbon. Earlier when Britannia launched TREAT, it included BOURBON in this category itself but soon realized that this was like trying to bound the CALYPSO in human form. BOURBON was targeted to all the class of people of all the age groups primarily adolescents and adults unlike TREAT which was targeted only towards the children. So Britannia played smart and re-launched the Electric Ebony as the Original BOURBON. 2. CORPORATE INFORMATION: The story of one of India's favourite brands reads almost like a fairy tale. Once upon a time, in 1892 to be precise, a biscuit company was started in a nondescript house in Calcutta (now Kolkata) with an initial investment of Rs.295. The company we all know as Britannia today. The beginnings might have been humble-the dreams were anything but. By 1910, with the advent of electricity, Britannia mechanized its operations, and in 1921, it became the first company east of the Suez Canal to use imported gas ovens. Britannia's business was flourishing. But, more importantly, Britannia was acquiring a reputation for quality and value. As a result, during the tragic World War II, the Government reposed its trust in Britannia by contracting it to supply large quantities of "service biscuits" to the armed forces. Britannia strode into the 21st Century as one of India's biggest brands and the pre-eminent food brand of the country. It was equally recognized for its innovative approach to products and marketing: the Lagaan Match was voted India's most successful promotional activity of the year 2001 while the delicious Britannia 50-50 Maska-Chaska became India's most successful product launch. In 2002, Britannia's New Business Division formed a joint venture with Fonterra, the world's second largest Dairy Company, and Britannia New Zealand Foods Pvt. Ltd. was born. In recognition of its vision and accelerating graph, Forbes Global rated Britannia 'One amongst the Top 200 Small Companies of the World', and The Economic Times pegged Britannia India's 2nd Most Trusted Brand.
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Today, more than a century after those tentative first steps, Britannia's fairy tale is not only going strong but blazing new standards, and that miniscule initial investment has grown by leaps and bounds to crores of rupees in wealth for Britannia's shareholders. The company's offerings are spread across the spectrum with products ranging from the healthy and economical Tiger biscuits to the more lifestyleoriented Milkman Cheese. Having succeeded in garnering the trust of almost one-third of India's one billion populations and a strong management at the helm means Britannia will continue to dream big on its path of innovation and quality. And millions of consumers will savour the results, happily ever after. 3. PRICE: a. Pricing Objective: The pricing of Britannia Bourbon is profit oriented. This is evident from the very fact that Britannia Bourbon is prices higher than its competitors in the market. A 169gm (15 biscuits) pack of Britannia Bourbon is priced at Rs.22/- while 170gm (15 biscuits) of Bisk Farm and 148gm (16 biscuits) of Sun feast are all available at Rs.20/- However the quality of Britannia Bourbon drives the sales efficiently despite of the profit oriented pricing. b. Pricing Strategy: Britannia Bourbon follows the Status Quo pricing strategy. The company has efficiently maintained the high quality of the product never compromising on any frontier be it the chocolate quality or the quality of the biscuits or even the sugar crystals. This has helped the brand position itself as a premium brand and hence maintain the status quo pricing keeping the prices more than its competitors. c. Fine Tuning the Base Price: The strategy used by our brand for fine tuning the base price is giving margin and discount to retailers & wholesalers. Britannia gives 10% margin to the retailers and 3% margin to the wholesalers. The wholesalers get another 2% discount along with the mentioned margin. Apart from this no strategy or tactics are followed by Britannia Bourbon to fine tune its base price. Direct discounts or offers to customers have hardly been seen in case of Britannia Bourbon. This strategy has left the customers with the following prices: i. Nano Pack Rs.5/ii. Pocket Pack Rs.12/iii. Hang-out Pack Rs.15/iv. Party Pack Rs.22/4. PROMOTION: a. Analysis of Advertising Campaigns: Britannia Bourbon was previously categorized under the kidcentric Treat catalogue but lately after conducting several researches about the target customers and the potential of the brand, Britannia Cream Treat Bourbon was rebranded as Britannia Bourbon The Original. An extensive ad campaign is now being used with the tagline Andar se kuch aur, Bahar se kuch aur! Which ties the surprising resourcefulness of youth with the biscuits characteristics of chocolate sandwiched between biscuits? Bourbon, through the ad, becomes a partner in your pranks, sums up Prasoon Joshi, the head of creative team at McCann .The tongue-in-cheek ad is the first ad directed by the dark theme film maker Anurag Basu which blends how the youth usually get their way through ingenious means with the experience of eating a Britannia Bourbon. A girl, miffed at her boyfriend watching a cricket match with his gang of friends on an evening planned for a date, does not protest. She instead turns the very act of enjoying a Bourbon biscuit into a trigger for them to be driven out of the house. The boyfriend, of course, does not want his friends imagination to run riot.
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The print ad of Britannia Bourbon is somewhat the same provoking us to enjoy our moments in life. The print ad is as follows:
a. Hoping to strengthen its appeal with the youth, which it couldnt boast of until now, Britannia is pegging the brand as an anytime product that, for example, can be had on the go with a cup of coffee. Below the line activities include tie-ups with cafes and college fests and more distribution in departmental stores near colleges. After this current campaign, the brand is expected to post a growth of 15%. b. Media Types used in Advertising: Britannia uses TV and print media (magazines) for advertising apart from Over-the-counter advertising using the posters of BOURBON. However, it is only the TV ad of this brand which is tremendously popular. The sense of fun drives the viewers of the ad crazy and this craze combined with the amazing taste persuades the consumers to go for word of mouth promotion of the brand. Public Relations: Britannia has largely underutilized the public relations tools for promotion. The major PR tool used by Britannia is good investor relationships. Britannia is the 5th Most Trusted Brand in India after Nokia, Colgate, Lux and Dettol, while it is the most trusted Food Product Brand. The investors are happy investing in the shares of the company as they are assured of getting good returns. The company rewards the investors with incentives frequently and this has helped a lot in maintaining cordial relationship between the two. Sometimes, the company also goes for product publicity via newspapers and its website. The website of Britannia has proved to be yet another effective tool for maintaining public relations by the company. Sales Promotion: For the sales promotion purpose Britannia gives margin and discounts to the wholesalers and the retailers. The retailers get a margin of 10% while the wholesalers get a margin of 3%. The wholesalers also get an additional discount of 2%. This acts as push strategy in sales promotion as the product is pushed through the distribution channel. However it should be noted that this brand hardly needs any sales promotion to increase sales because of its consistent quality and high brand value.

c.

d.

B. SWOT ANALYSIS
STRENGTHS:
o Quality The quality of Britannia Bourbon has always been uncompromised and extraordinary. It is uniform in all the biscuits in all the packs. This is one of the most important factors that people buy the product in spite of its higher price. Taste The richness in taste is such that itll just spellbind the one who consumes it. The biscuits are light baked, perforated with sugar crystals sprinkled over them and carry an implicit taste of chocolate. The chocolate cream is thick and rich and makes one feel in heaven. Consistency The brand has been consistent with its quality and taste for a long period of time and this has become one of its strength as people now swear by its taste and quality. Price The price of our brand is higher than its competitors, but acts as strength because it gives the feel of a premium product which is affordable by all. Packaging The unique and attractive packaging of this brand helps to attract the buyers to have look at the product after which they actually cant resist to buy our brand.

o o o

WEAKNESSES: o Calories The health freak customers will definitely avoid the brand as it contains calories and is so heavy that one wont prefer to have more than 3 4 biscuits at one go. However much cant be done on this aspect because its all due to the taste and quality of the brand and changing this will spoil everything.
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OPPORTUNITIES:
o The brand with its uncompromised and consistent high quality and rich taste can clean sweep the stakes in the chocolate cream biscuit market. Britannia Bourbon is already the market leader with 33% market share of cream biscuit market. This is an opportunity for the brand. The brand can further accelerate the sales if some offers directed towards the consumers are provided which hasnt been done before. Coming up with a family pack can me a successful venture for Britannia Bourbon.

o o

THREATS:
o Dukes Bourbon: It is the only threat to our brand in terms of competitors because of its good quality and taste at low price, however Dukes is not that popular brand and the supply chain of Dukes is also not that effective.

5. BRANDS Brands provide the momentum for business growth and during the year, investment in Research and Development, Advertisement and Sales Promotion increased by 12.7% and coupled with the renovation and innovation efforts, resulted in 23.9% growth. Several new and renovated offerings were successfully introduced across the entire portfolio that include Milk Almond Cookies, Fruit Dhamaka Cookies, Tiger Krunch - Fruit n Nut/Choco chips, Britannia Annual Report 2010-11 Diabetic friendly biscuits under NutriChoice, Time Pass Toasted snack variants, Maska Chaska variants, Treat-O and Good Day - Choco chips and Coconut. Significant introductions in Bread and Cake include Sweet Bread, Milk Bread, Healthy Slice Bread, Premium Sandwich variants and Fruit chunk cakes, and provided significant impetus to the Bread and Cake business. Company continues to invest significantly in its capability-building and structured innovation process, which is reflected in the launch of varied and differentiated offerings to strengthen the business. Company has also initiated the process for breakthrough innovations through interactions with reputed institutions, which is expected to help build a strong platform for sustained and significant business leadership and growth. Significant innovation in packaging has led to the introduction of attractive and cost-effective new packs catering to increasing purchase and consumption both in-home and out of home.

Brand Positioning
With different various products Britannia do not only positions as a biscuit manufacturer. But they also give very much importance over food quality. They basically position themselves as a manufacturer of food with delivering higher quality and cost benefits values to their customers. Their packaging of the products also defines themselves as a company for every consumer with different pricing options. This strategy helps the company to capture a huge market share. SHOWCASE & BRAND STORES: Tiger, launched in 1997, became the largest brand in Britannia's portfolio in the very first year of its launch and continues to be so till today. Tiger has grown from strength to strength and the reinvigoration in June 2005 and more recently, in Apr 2008 has further helped bolster its growth in the highly competitive glucose biscuit category. Tiger is a Glucose biscuit, which comes with the added goodness of wheat and milk. It is for modern mothers who play an enabling role for their children to compete in today's world and thus want the best. Now Tiger Glucose has been fortified with "Iron Zor" with an attempt towards addressing the Iron Deficiency crisis the children of India face.

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Over the years, Tiger has become the mass-market face of Britannia symbolizing fun and energy in both urban and rural India, and transcending glucose biscuits. Tiger Coconut: Delicious Coconut Flavoured Energy Biscuits, launched in 2001 Tiger Creams: Was introduced in 2002 at just Rs 5 per pack. Tiger Cream is now available in Orange, Elaichi, Chocolate, Pineapple, Strawberry and Butterscotch flavours, and promises to bring more fun and more energy to children across the country. Chota Tiger: Is an extension of brand Tiger launched nationally in May, 2007. It is mini sized pop able glucose biscuit with coloureds sugar sprinkling. It comes in two variants: Milk Sparkies and ChocoSparkies Tiger Banana: Britannia is committed to help secure every child's right to Growth & Development through good food every day. Purposefully taking forward the credo of 'Eat Healthy, Think Better ', we have launched a new variant under our power brand TIGER TIGER BANANA - power packed with IRON ZOR and with the delightful taste of banana. IRON ZOR helps make mind sharper and body stronger. A Rs.4 pack has as much IRON ZOR as that in 1 kg of Banana. R&D in Britannia has spent considerable time to develop this nutritious and delightful snack for children. Britannia Tiger Banana packed with IRON ZOR and goodness of Banana is accessible to all, being available in convenient packs priced at Rs.2, Rs.4 and Rs.10.

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In earlier times, marketers could understand consumers through the daily experience of selling to them. Marketing involves an exchange transaction between the buyer and seller. In other words, it is a set of activities to direct and facilitate the flow of goods and services from the original producer to final consumer in the process of distribution. Perhaps the basic change in the marketing thinking is the paradigm shift from perceiving a sale to creating a customer. Marketing in part has been largely transacted oriented; today it is more relationship oriented. In addition to designing the best marketing mix to make a sale, there is growing emphasis on winning and keeping customers. Good customers are always an asset which, when well managed and served, will return a handsome lifetime income stream to the company. According to Philip Kotler, Marketing can be defined as a social and managerial process by which individuals and groups obtain what they need and want through creating, offering and exchanging products of values with others. SEGMENT INFORMATION The primary business segment of the Company is Foods comprising (i) bakery products biscuits, bread, cakes & rusk, and (ii) dairy products milk, butter, cheese, ghee and dahi. OUTLOOK The Company expects sustained growth of both the bakery and dairy segments over a medium term horizon, buffeted by some volatility in commodity prices. Simultaneously, the widening of the consumer food basket with growth in disposable income will enhance growth and investment opportunities in existing and adjacent categories thereby opening up new vectors of growth. In bakery, growth will endure for relevant and differentiated propositions, offered at the right price value. This will direct effort in enhancing differentiation through innovation and simultaneously eliminating costs through the entire value-chain. In dairy, growth will be achieved through a steady and gradual shift to branded products like dahi and milk and through value-added and differentiated functional products. International markets are likely to stabilize, especially in the large middle-east geography where Company has manufacturing and marketing operations. With the entry of Companys brands in Saudi Arabia market, the middle-east business will see a boost. Company will continue to drive profitable growth in an extremely competitive environment with focus on consumers, customers and cost effectiveness. Marketer needs to use advertising and brand building strategies to address the discerning buyers and retail push to in different buyers. The manufacturer should understand consumer behaviour because retailers cant help quality and price. It is only up to manufacturers to deliver what consumer wants. I need to stress on it because 58% retailers said that it is demand why they sell Britannia, 61% agree that at retail shop it is brand popularity, which determine the purchase of biscuit. There is a greater need to understand the retailer behavior. Considering them as a team, working for the company may help them to be attached to the company. There should be a feeling of belonging to the company in inner of the retailers. This can be done by setting values club for retailers so that they may exchange views with the company and help in understanding consumer behavior.

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MARKETING STRATEGY The marketing strategies for any company are not about a fixed concept. Rather it is full of new challenges every day, and the companies must respond to it very positively. The market process is applicable to more than goods and services. Anything related to market including ideas, events, policies, prices and personalities comes under market strategy. However it is important to emphasize opportunity in the market through market strategy. The following strategies are basically adopted by Britannia in order to capture a good market share. A strong quality of the product and customer satisfaction: General customers are basically concerned about the quality of product rather than the price of the product. In our survey we found that basically people are first looking for the quality. If good quality is there in the product then they are only looking for the price. But if the quality is not satisfactory they even dont looking about the pricing of the product. In this regard Britannia always maintained much more importance over there product quality. Thats why they are among the very successful brand of today.
A growing relationship with customer and customer retention :

Nowadays a good relation with the customer is very important for organization. Sale is totally depending on the relation with the customers. Customer's retention is also a major aspect for growing business. It means keep the old customer and try to make new customer. Britannias customer relationship management is very strong which is the one of the major cause of selling of their product continuously. Focus on competitors activity: Every organization should must be careful about it's competitors step, because they can disturb the growing sales process of the organization. Continuous watching over competitors strategies and development help Britannia a lot. A growing emphasis on global thinking and local marketing planning: Companies are increasing by pursuing market beyond their borders. When they enter other countries they must follow the tradition of that country and also they make plan for local market that which type of product has more demand and how can it run in the market.
A growing emphasis on global thinking and local marketing planning:

Companies are increasing by pursuing market beyond their borders. When they enter other countries they must follow the tradition of that country and also they make plan for local market that which type of product has more demand and how can it run in the market. For Britannia different variation in their product depending over various locations and the economic status of the people is being very much helpful for the company. Promotional Strategy Under the market strategy promotional idea is very important. Organization provides some schemes or rebates to retailers or consumers. They make advertisement according to convenient of the people and the feature of the product. Sometimes Britannia comers to market with new offerings and of course with cost benefits to the customers. Giving discounts over bulk purchase also comes under this strategy.

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Market Segmentation
Need for Market Segmentation: - As the companies cannot go to all sectors and to all customers with different needs and demands of customer. So it is very important for any company to identify various markets segments. In this context the segmentation of market of Britannia is analyzed here. Demographic Segmentation:- Looking at the age, gender, family size, income and occupation of various people, Britannia also have segmented there market like: Depending on Age: - Britannia Fruit Rollz is designed basically for the children. Good Day, Cream Creaker, Marry are basically for the more matured people. Little Hearts are designed are basically for the younger generation people. Income: - Good Day, Milk Cream is basically for the people who belongs to a little bit of higher income level. Britannia Marie, Suji tost are basically designed for then who belongs to a little lower level income group. Different products with packages of Rs. 5, Rs. 10 are also made keeping the income status of the people.

Behavioural Segmentation Sometime peoples behaviour changes with their psychology and mood also. Keeping this into consideration Britannia also has segmented there market. Benefits: - At tea time we require also some snacks. Keeping this into consideration Britannia has specified products like Cream Creaker, Suji toast. User Status: - People in dating or love often prefers for some time pass with some food. Britannias Salted Time pass and Little Hearts are the perfect solution for that. The Little Hearts biscuit are extremely dedicated for the people in love as these biscuits are very little in size, shapes like a heart and perfectly red colour. Usage Rate: - Britannia has also segmented their market depending on the customer usage rate. Marie Gold is a product which is for High Usage Rate Customers.
Niche Segmentation: - It includes the further segmentation of the segments of the original market.

Britannia Slice Cakes and Britannia good day are designed for the people who actually also wants some food characteristics in a biscuit. Different cream biscuits are also made for the people who love to have a biscuit with cream.

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Target Markets Being a very much consumer product Britannia have different target markets with different products. This can be discussed with different products and markets. Being a very familiar consumer product they basically use a full market coverage strategy with different products. Britannia Tiger: - With a lower price and smaller packs of this product Britania basically targets for people with relatively lower income group who are concerned about the product quality as well as with the pricing of the product. With this product Britannia also captured a huge proportion of rural market of India. Britannia 50-50:- Pricing with a bit higher than Tiger it actually uses the concept of namkeen biscuit or in other world snacks. People who like to have snacks with tea or anything else Britannia also targets them with this product. Britannia Marie Gold: - With a bigger packaging size it targets for the families having more no. of people. As the requirement is high so they designed these packets with larger no. of biscuits. Also gives a family like moderate taste. Britannia Good Day: - Actually uses the concept of butter biscuits. It actually targets for the people with a bit of higher income group. Who wishes to buy biscuits not always for food requirement but for bit of luxuriousness? Treat Fruit Rollz: - It actually targets the children and uses a concept of celebration. As at the time of celebrations among the children biscuit is an important issue. It targets the occasion as well as the minor group of their potential market. Research and Development: After testing, the new product manager must develop a preliminary marketing strategy plan for introducing the new product in to the market. The plan consists of three parts. The first part describes the target market's size, structure and behaviour. The second part outlines the planned price, distribution strategy and marketing budget for the first year. The third part of the development describes the long run sales and profit goals and marketing mix strategy over time. The Marketing Mix For various products of Britannia there are various marketing mixes. Here we have taken a single product of Britannia Biscuits and analyzed the marketing mix strategy for this particular product.

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The Market Potential Market potential of the BRITANNIA is much positive in competitive era and will sure cover the maximum market share of biscuit product. Potentiality of any product depends upon the futuristic performance of the product. It depends that how much retailers have potentiality to be permanent seller of BRITANNIA. For great potentiality it is necessary to improve those factors which are going to affect retailers. In my study I found some factors which can help to cover great potentiality. These factors are following: Scheme delivery should in perfect determining time. Some places distributors not able to cover his particular area. That should be improved. Scheme facility should be regular as much as possible. Small pack also should be in the market. Always collect the views of retailers. It gives psychological effect on the retailers about careness by manufacturing company.

These factors are very important for the organization. If company is able to improve these all factors then definitely its market share will more increase. Retailers will take more interest to sell Britannia biscuit and customer will also enjoy for it. So potentiality is very high to Britannia biscuit in positive direction. SWOT ANALYSIS OF BRITANNIA: Fulfil one of our Basic Requirement among Air, Water, Food, and Shelter Widely accepted in all Generations Easily available in various forms Provide good Instant Remedy for hunger in the form of readymade food Preserves the non-seasonal food and makes it available all throughout the year Increases the cost of food product Industry and technology requires high investment Regular usage of processed food can cause alteration in health

EXTERNAL MARKETING ENVIRONMENT The external marketing environment has got a significant effect on the brand. This external environment consists of Social, Demographic, Economic, Technological, Political, Legal and Competitive Factors. Each factor has got a specific implication.
a) Social Factors: Our society is undergoing a period of changes. The habits and choices of the society are changing. Biscuits which are actually snacks are being used as main food by the student community. This has propelled the growth in the sales of the biscuits. Britannia Bourbon has become the choice of the society and is liked by people at mass. Hence it can be said that society is having a positive influence on the sales of Britannia Bourbon. b) Demographic Factors: The demographic factors such as age, sex, income, occupation, etc all of them are having a positive impact on Britannia Bourbon. As the brand is targeted towards the adolescents, youth and the adult, there is absolutely no restriction to the reach of the brand. The changing lifestyle of people from normal life of old times to fast life of modern era is promoting more consumption of readymade eatables like Britannia Bourbon.

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c) Economic Factors: At this moment of time when prices of all the commodities are touching the sky, Britannia Bourbon is available to the consumers at affordable prices and consistent high quality. Although Britannia Bourbon is a premium product in its segment, it is still affordable by everyone. d) Technological Factors: Whatever be the technology developed by the R&D team of Britannia Bourbon, the taste and quality of the biscuits is amazing and consistent. No competitor has been able to achieve the taste and quality level which has been benchmarked by Britannia Bourbon. e) Competitive Factors: Britannia Bourbon has truly been the king of the market in its segment. It is priced more than its competitors but is still the first choice for buyers because of its taste and quality. Apart from this, the strong and efficient distribution channel ensures the constant supply of the brand to the shelves in the market. The retailers and wholesalers however get incentives in the form of margins and discount to promote the product. In terms of the competitive factors, Britannia Bourbon is the leader on all frontiers and hence can be considered as untouchable or invincible by other brands. It has left all its competitors starting from Sunfeast and Bisk Farm to Parle and Dukes far behind in the competition. The craze is such for this brand that it has become a generic for BOURBON, the most popular type of chocolate cream biscuits which are actually named after a whiskey.

MARKETING MIX 1. PRODUCT: a. Product Type: Britannia Bourbon is a convenience product. It is easily available across the marketplace at various outlets starting from the local kirana store to the supermarkets like Reliance Fresh and Food Bazar. It is a product which is sought daily by the consumers and the purchase decision in this case is quick & positive. It is available in 5 different packs as pocket pack, party pack, hangout pack, family pack and gift pack. The biscuits inside those packets are really tempting and mouthwatering which makes the tagline indulge your dark side come real. The consistency in the product has been such that in spite of many me too products venturing the market our brand is still unmoved and unaffected by any sense of competition. The Rs.120-crore brand has a 33 per cent market share in chocolate biscuits market. b. Product Life Cycle: Britannia Bourbon is in the Growth Phase of product life cycle. There has been a significant increase in sales figures which is still rising. Besides the competition has increased a lot by the entry of new players like Sun feast Dream Cream Bourbon, Parle Hide & Seek Bourbon, Bisk Farm My Favourite Bourbon and Dukes Bourbon. The awareness about this brand has increased in leaps & bounds while the popularity of the brand is touching skies. Britannia Bourbon has made BOURBON so popular that new words have been coined after Bourbon like: BOURBO NEER meaning group of people that loves eating BOURBON. BOURBER means BOURBON eating male and BOURBONETTE meaning BOURBON eating females. 2. PLACE: a. Marketing Channels: Britannia Bourbon follows intensive channeling strategies using a plethora of whole-sellers & retailers to make the product available to the market. The company uses both; push as well as pull strategy to sell its product in the market. The channel followed is much simpler as the company directly sends the product from factory to distributors who then forward the stock to the whole-sellers and retailers. The product is available everywhere, be it a small grocery shop or a large Shoppers Stop store.
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b. Major Retail Outlets: The brand is sold at every possible location starting from a small local grocery shop to the super stores and hypermarkets. Some major retail outlets are:
i. ii. iii. iv. v. Grocery Stores Reliance Fresh Food Bazar (Big Bazar) Pantaloons Shoppers Stop

c. Effectiveness of these Retail outlets: The retail outlets have been highly effective implementing the pull strategy, and thus pulling the customers to buy Britannia Bourbon. The sales figures for BIL has increased rapidly from 1817.92 crore in the year 2005-06 to 3424.58 crore in the year 2009-10. As Britannia Bourbon is a convenience product, the ease in availability is an important factor for the success of the brand. Hence by looking at the success of our brand, we can easily conclude that the retail outlets selling our brand have been highly effective in catering the needs of the market and thus, satisfying and attracting customers towards this brand. CONCLUSION After going thick on the thing, now time is to make a complete picture. While making a product a SKU (Stock Keeping Unit) of the shop retailers think about the GMROI (Gross Margin Return On Investment) and they promote the brand which provide them highest. They expect return in the form of profit margin, company schemes, window display and references of the shop. Among these, company schemes make the differences and are the highest source of motivation after profit margin. Retailing demands a constant push from the company. Marketer needs to use advertising and brand building strategies to address the discerning buyers and retail push to in different buyers. The manufacturer should understand consumer behavior because retailers can't help quality and price. It is only up to dealers said it is demand they sell Britannia 42% agree that at retail shop it is brand popularity, which determine the purchase of biscuit. There is a greater need to understand the retailer behaviour considering them as a team working for the company may help them to be attached to the company. There should be feeling of belonging to the company in inner of the retailers. Setting values club for retailers so that they may exchange views with the company and help in understanding consumer behavior.

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New Advertising Strategy Even as Britannia Industries Ltd (BIL) is unwrapping a new advertising strategy for its launched brand Marigold, Parle Products Pvt Ltd has roped in Ogilvy & Mather India to design the advertising plans for its yet-to-be launched brand Monaco Bites. With the entry of Hindustan Lever Ltd.s biscuit brand Modern Energy Biscuits, competition is hotting up in the Rs 2,500-crore Indian biscuits market. For starters, BIL has recently launched its flagship brand Marie Gold with value additions in a bid to rejuvenate the brand. Along with the prelaunch, the company has also revamped the advertising and packaging strategy of the brand in the overcrowded category. Strapped with a new tagline Packed with wheat energy, the new avatar of Marie Gold in a new packaging hit the Indian marketplace just a few days ago. The company is still in the process of rolling out the launched brand across the country, inform sources from the company. And to announce the prelaunch of Marie Gold, BIL is rolling out a multi-media ad campaign which includes press advertisement, television commercials and radio advertising, says Lowe India (Bangalore) vice-president Preeti Maroli. Well be using all the media vehicles that are available. To start with, we have launched a television commercial in Hindi. Very soon, we will roll out print ad campaign first in Hindi. Later we will go for press ads in English, she adds. To support the mass media ad campaign for its launched brand, the agency will be using belowthe-line activities too, says Ms. Maroli. The agency also has plans to put up hoardings and banners as part of its outdoor media strategy. As for our ad strategy, we have used the health plank to highlight the benefit of wheat energy in the launched Marie Gold. And of course, we have revamped Marie Golds packaging strategy with the prelaunch, adds Ms. Maroli. On the other hand, Parle Products Ltd has hired the services of Ogilvy & Mather India to create communication plans for its new product called Monaco Bites. Says Ogilvy & Mather India executive director Nishi Suri: Amid stiff competition, we won this new account. The other agencies in the fray were Everest Communications and Grey Worldwide. Its a prestigious account as our client plans to launch Monaco Bites in different flavors, including cheese. According Ms. Suri, Ogilvy & Mather has been handling the ad account of Parle KrackJack for the last 15 years. Our ad campaigns for Monaco Bites are still in the pipeline, she adds. At present, Britannia Industries and Parle Products Ltd are considered dominant players in the overcrowded branded biscuits category.

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Britannia for major advertising campaign to promote brand name After a gap of five years, leading biscuit maker Britannia is all set to launch an advertising campaign to promote its brand name on the electronic media next week. We have not promoted Britannia brand as such in the last many years as we were only promoting our singular products like Tiger biscuits or Good Day biscuits, Britannia category director Anuradha Narasimhan told reporters here Monday evening. However, this was part of our marketing strategy. At first, we wanted to strengthen the image of the products that we are offering in the minds of the spectators. And now, we will work for the image building of Britannia brand by launching two commercials on television, Narasimhan said. In India, Britannia biscuits are leading with over 33 per cent of the market share. Britannia has its manufacturing units at 70 locations across the country. Presently, Britannia is offering biscuits, cakes and breads under the brand. The latest addition in their offering is Britannia daily fresh curd that was launched in Feb 2008 in some parts of the country. In India, packed food market is of about Rs.600 billion ($13 billion) of which the biscuit market accounts for Rs.80 billion. In 2007, Britannias share in the biscuits market was Rs.27 billion, Narasimhan said. She added that in India, the average per capita consumption of biscuits per year is 800 grams whereas in the developed countries it is over 2.4 kilograms. We are increasing our market operations throughout the world as Britannia biscuits were launched in Sri Lanka last month. In 2007, we had acquired two companies in the Middle East, she said.

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Britannia Print Ads

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COMPETITORS: Generally all organizations have competitors in the market. A particular organization always comprises with other same business and according to market share we clarify the brand of product is giving more challenge to my product. STATEMENT OF THE PROBLEM: Parle, the market leader in the glucose segment increased the price of its 100 gram Parle-G, glucose biscuits from Rs.4 to Rs.4.50 during mid-July. Britannia, the value leader maintained the price of its 100gram glucose biscuits - Tiger brand at Rs 4 as before. Britannia being the next leader in the segment was interested to know whether the 100-gram Parle-G glucose biscuit customers have switched to Britannia Tiger glucose biscuits after the price increase of 100-gram Parle-G and if so, to what extent. A few questions needed to be answered in this regard:
Are consumers aware of the Tiger glucose biscuit brand? Does a 50-paisa price hike act as a booster for the customers to change the brand? What difference do the consumers feel about taste parameters of Tiger and Parle-G? What factors influence their buying decision? What impact does the price change has on the market?

This study has been undertaken to answer the above questions and help the researcher understand 100-gram Parle-G glucose biscuit customers brand loyalty. The study has been designed on the following parameters: Analysing the brand awareness among respondents.
Analyzing the factors influencing brand decision. Comparison of Tiger and Parle-G taste parameters. Analyzing the impact of the price increase of the 100-gram Parle-G on 100-gram Britannia Tiger.

Britannia Tiger brand launched in 1997 led Britannia foray into the glucose category. The companys Tiger range of glucose biscuits has been a runaway success, enabling the company to expand its presence in the largest glucose category of the biscuit market. Within a short span of 7 years it has gained 28% of the market share in the 100-gram glucose biscuit segment and is the second leading brand in the segment. The brand faces competition from Parle-G brand, which is around for 60 years and is the market leader with 57% market share in this segment. The research has been carried out to understand whether the Britannias established brand name and the pricing strategy has been able to pull 100-gram Parle-G glucose biscuit customers after the price increase of 100-gram Parle-G. To achieve this objective the present 100-gram Parle-G glucose biscuit customers and the past 100-gram Parle-G glucose biscuit customers who switched from Parle-G to other brands of glucose biscuits from mid-Aug to mid-Nov have been interviewed

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Britannia Vs. Parle: The battle for Bourbon Mumbai: For five decades now, Bourbon and Britannia have gone hand in hand. The Wadia family-controlled company lords over 70 per cent of the popular biscuit category. The rest of the market is with about half a dozen other brands. Too good to resist Vijay and Sharad Chauhan's Parle Products wants to change the terms of the game. One reason is that the market is too good to resist for long. Its annual sale is approximately Rs 280 crore and is growing at 25 per cent per annum. The total biscuit market, estimated at around Rs 10,000 crore, is growing at a lesser pace of 5 to 7 per cent. Clearly, Bourbon's share in the biscuit market will grow bigger and bigger in the days to come. The second reason is the overarching presence of Britannia. The Bourbon market, in other words, is not competitive. Some smart marketing can fetch Parle a decent market share. "We analysed the market that is largely dominated by a single player and realised that there's enough scope for us to create an impact," says Parle Senior Product Manager Shalin Desai. Hrithik is Parle's answer to Britannia Parle has decided to make the product a part of its Hide & Seek brand. This way, the company does not have to spend money to build a brand from scratch. Moreover, Hide & Seek is a chocolate product. So, it can easily be leveraged for the Bourbon offering. The consumers would know what to experience from the new product. "Consumers associate Hide & Seek with chocolate-based biscuits. Hence, the new product has been created under the Hide & Seek umbrella to give consumers biscuits with more quantity of rich chocolate cream in their Bourbon biscuits," says Desai. No surprises then, Parle has decided to use Hide & Seek's brand ambassador, film star Hirthik Roshan, for Bourbon as well. In the advertisement, the actor can be seen flaunting his dancing prowess, urging viewers to "try it". Umbrella branding: Purple packaging In addition to the television commercial, the product will also be packaged in purple, like its parent Hide & Seek. However, the communication is a marked change from Hide & Seek's earlier campaigns which were more story-based. In the ad, Roshan asks a girl for a dance. The girl shies away saying that she can't. Roshan then tempts her with a Hide & Seek biscuit to which both of them start dancing away. Similarly, the next ad based on the same premise showed off Roshan's fighting skills. Vipin Dhyani, founder and creative director of Thoughtshop India, the communication agency that worked on the ad campaign, says the idea was to merely announce the entry of a new player on the block. "For this campaign, the idea was to simply highlight the product and the celebrity," says Dhyani. Adds Desai, "The entire concept of 'try it' is to keep the brand open for evaluation." Parle in combative mood The Bourbon launch shows that Parle is in a combative mood. Last month, it took on Britannia's 50-50 in the non-salted biscuit category. The reason was attributed to the fact that 50-50, which was launched in 1993, had significantly overtaken Parle's Krackjack which has been in the market since 1972. Thus, the company reintroduced comedians Krack and Jack to highlight the sweet and salty properties of the biscuit.

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Fight strategy The battle has now moved on to the Bourbon category. Parle, to be sure, did have a Bourbon biscuit called Parle Bourbon. It was priced lower than Britannia's Bourbon; but the product failed to do well. "Britannia has a strong presence in the category and the perception of our existing product was very low. The fast growth rate (in the Bourbon market) was an added incentive," says Parle General Manager Pravin Kulkarni. Thus, the company came up with a premium Bourbon that would target young adults, teenagers and children. The target market is split 60:40 in favour of young adults. Interestingly, even though the product is positioned in the premium bracket, its price is still lower than its rival. Britannia's Bourbon costs Rs 10 and Rs 22 for 70 grams and 167 grams, respectively, in the west, while in the rest of India it is priced at Rs 12 and Rs 22. Parle's, in contrast, is priced at Rs 10 and Rs 20 for similar pack sizes. "We are not pricing it low, but we certainly are capatalising on being priced lower," adds Desai. The ad campaign with Roshan, the premium positioning and the competitive pricing, Parle is confident, will work in its favour. Kulkarni is confident that within a year, Parle's market share will be 50 per cent. How Britannia reworked brand positioning But Britannia is not the one to give up market share without a fight. In August, right after Parle launched its Bourbon, Britannia came out with an ad campaign to showcase its new packaging as well as a more youthful approach. The advertisement opens with a girl standing at the door of her boyfriend's house. Sheepishly, the boyfriend tells her that his friends are over to watch a match. Upset, the girl sits at the diningtable, where she picks up packet of Bourbon. As she eats it, she begins to moan suggestively, catching the attention of her boyfriend's friends. As the moans get louder, the men's jaws begin to drop. Irked by this, the boyfriend asks his friends to leave. The TVC closes with a shot of the couple sitting on the sofa with the girlfriend asking: "Tumhare dost kyun chale gaye? (Why did your friends leave?)." A voiceover intones: Bahar se kuch, andar se kuch aur (Something on the outside, something else on the inside). And just like Parle, the brand which earlier targeted the whole family, Britannia will now focus on the youth with its Bourbon. "The moment we had launched our brand, Britannia decided to come out with this campaign," jibes Desai. The contest however is not restricted to just Britannia and Parle. Others in the market place include ITC Sun feast, Good Day Chocolate and Pure Magic. Clearly, the Bourbon battle has only just begun.

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Competitors: Generally all organizations have competitors in the market. A particular organization always comprises with other same business and according to market share we clarify the brand of product is giving more challenge to my product. We found many products which can be compared with Britannia Biscuit. As a conclusion we found that particularly in the area we surveyed Britannia is really doing well and its performance is on a good level. During the field work and after intensive study it was found that main competitor of BRITANNIA is BIAKFARM Biscuits. In our provided area the share of the market is as follows. BRITANNIA 33% BISKFARM 25% PRIYAGOLD 13% PARLE-G 14% PURE FOOD 8% OTHERS 7% When we compared with other businesses then we follow the quality, price, distribution system, promotional strategy etc. of the competitors Britannia in this area is doing well.

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REPORT OF THE DIRECTORS The Directors present their Annual Report together with the Statement of Accounts for the year ended 31 March 2011. OVERVIEW OF COMPANY PERFORMANCE In an environment that is becoming increasingly competitive and in a business whose profit and profitability are greatly impacted by commodity inflation, profit from operations increased from 1,248 MM to 1,794 MM. Company added 8,194 MM to the gross sales, which grew 23.9%. Earnings per Share were 12.16. The tables below show trends in performance across key parameters: In 2010-11 the unprecedented inflationary pressures on the consumer food basket continued, as did commodity inflation for the food industry. Against this adverse economic scenario and continued competitiveness that eroded the overall industry profit pool, Company continued to focus on its growth strategy, led by its Power Brands and at the same time restructured operations to reduce cost. Britannia bakery brands including cake, rusk and bread grew 23.9% with biscuit brands outpacing market growth. Company addressed the cost challenge by significantly reducing cost through consolidating operations, re-structuring manufacturing units, reducing complexity and eliminating wastages in the value chain. Company will continue and intensify the thrust on cost effectiveness in the coming year as well. Companys focus on building new capabilities and a robust pipeline of innovation resulted in several new launches. Coupled with leading edge go-to-market approaches these innovations tap new sources of growth and profitable revenue, while building brand differentiation and relevance. Launches in the Indulgence portfolio continued with Treat-O and Good Day Choconut and Good Day Choco chip cookies. Company further strengthened its entry in the mass cookies segment through the launch of Tiger Krunch cookies in Fruit n Nut and Choco chip variants. Company also entered the functional health segment with the launch of specially formulated Diabetic-friendly biscuits under the NutriChoice brand. On-the go consumption at the 5 price point has been a thrust area. 2010-11 saw Company entering new consumption segments, with the pilot launch of Breakfast Cereals - Britannia Healthy Start in Mumbai. This is a delicious and healthy ready-to cook range of breakfast options like porridge, oats, upma and poha mixes. Gross Sales Operating Profit Operating Cash Flow Britannia Annual Report 2010-11 The Companys Dairy operations represent a big pillar for growth. Despite an unexpected inflation in milk prices, growth has been accelerated in the Dairy vertical and synergies are being secured with the Britannia bakery business. Operations have also been streamlined for superior profitability and there have been sustained activities in the highly competitive cheese portfolio. Investment in new innovations - Actimind, Dahi, UHT Milk, Tiger Zor choco-milk was also strengthened. Growth momentum continued and escalated in the emerging categories Breads, Cakes and Rusks. Company is investing behind these categories and building consumer relevance and brand differentiation through new products, new consumption moments as well as through new communication. Export out of India continues to grow rapidly at over 30%. Company has added dairy products to its exports range. During the current year the Company is expanding the range of products and opening new channels of distribution in key markets. While the business environment continued to be challenging and competitive, consumers continued to buy and consume more of the Companys brands, more often. Company was ranked as the Most Respected FMCG Company by Business World.
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Consumers once again voted brand Britannia as # 1 Most Trusted Food Brand and # 5 Most Trusted Brand across all product categories in an independent survey conducted by A C Nielsen and The Economic Times. Brand Britannia also entered the Hall of Fame as it has been voted among the Top 10 Most Trusted Brands for a continuous period of 10 years. Britannia won the prestigious IMC Ramkrishna Bajaj National Quality performance excellence trophy 2010 for two of its units the Rudrapur factory and the cake factory in Mangaldoi. The Britannia Nutrition Foundation (BNF) was founded in this year and on the eve of National Nutrition Week (1 September 2010), BNF organized a symposium Indias Malnutrition: Combating the Hard Core in New Delhi. The symposium saw huge participation and engagement with 19 international and national speakers of repute and expertise, and a 200 strong audience comprising the government sector, the development sector, the medical and scientific fraternity. Consolidated Financial Results Company has prepared Consolidated Financial Statements in accordance with Accounting Standard 21(AS21) issued by the Institute of Chartered Accountants of India. The Consolidated Statements reflect the results of the Company and those of its Subsidiaries and Associates. As required by Clause 32 of the Listing Agreement with the Stock Exchanges, the Audited Consolidated Financial Statements together with the Auditors Report thereon are annexed and form part of this Annual Report. The Consolidated turnover of the Company for the year ended 31 March 2011 was 46,378 MM. The Consolidated Net Profit of the Company for the year ended 31 March 2011 was 1,343 MM compared with 1,032 MM in the previous year. DIVIDEND The Board of Directors is pleased to recommend a dividend of 325% on the paid up equity share capital of the Company, which works out to 6.50 per share, for consideration and approval by the shareholders at the Annual General Meeting. The total payout amounts to 902 MM including dividend distribution tax of 126 MM. Rs.200 Crore Investment Food products maker Britannia Industries Ltd is planning a total investment of more than Rs.200 crore this fiscal, including on setting up two new plants in Orissa and Bihar, a top company executive said Saturday. "We have done well across all segments, not just in biscuits but in cakes, bread and dairy. Last year, Britannia grew 22 percent in revenue and 30 percent in terms of profit. We want to be on growth track this year too. The company is planning an overall investment of more than Rs.200 crore this fiscal," said Vinita Bali, Britannia managing director, on the sidelines of FICCI's national executive committee meeting here. "This will include investments for its upcoming plants in Orissa and Bihar and also the expansion works at its Taratala plant in West Bengal," she said. The firm was planning to start production at its upcoming manufacturing facilities within a year, Bali said. "We are growing at 25 percent year-on-year in West Bengal. Our dairy products are doing well in the state," she added.

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Biscuit Unit Setup Britannia Industries Ltd. proposes to set up biscuit manufacturing units in Orissa & Bihar. The company has applied to the Orissa government for 10-12 acres of land near the twin city of Cuttack and Bhubaneswar and expects a final approval in a few weeks. The proposed unit, to be built at cost of Rs 45 crore, will have an installed capacity to produce about 2,500 tonnes of biscuit per month. The proposed unit will produce different varieties of biscuits mainly for the Orissa market. This will be the second unit of the company in Orissa. It currently has a 1,000 tonnes per month capacity biscuit unit at Mayurbhanj. The company proposes to set up a similar size unit in Bihar. Both the new units are expected to strengthen the companys presence in eastern India while contributing to the overall business expansion pan India. The company, at present, has manufacturing facilities in Uttaranchal, Delhi, Chennai and Kolkata.

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Growth According to Bali, who has been at Britannia's helm since 2005, "Over the past few years, as we looked at what we stand for and what we could stand for, we felt that if our promise to consumers [is to] make products that are not just enjoyable but also good for them, then we need to make that promise come alive through our products." This is perhaps best exemplified by Britannia's decision to remove 8,500 tons of Trans fat from its biscuits in the last year, making them completely trans-fat-free. The company was under no regulatory compulsion to do so; in fact, it is the only biscuit manufacturer in India to have taken such a step. Over the last few years, Britannia has also fortified many of its products with vitamins and micronutrients such as iron. Currently, 50% of its products are fortified. Positioning the Britannia brand as both enjoyable and healthy is core to Bali's growth strategy. She stresses that Britannia is not in the "health food" business, but rather "in the business of delight and enjoyment," competing not only with other biscuits but also with savouries, chocolates and other snacks. By marketing itself as a healthier alternative, however, Britannia seeks to sharply differentiate itself from other brands -- and that move has paid off. Last September, Microsoft founder and philanthropist Bill Gates included Britannia's fortified snacks in a list of eight examples of 'creative capitalism' published in Time magazine. The company was also recently recruited to participate in former U.S. President Bill Clinton's campaign against childhood malnutrition through the high-profile Clinton Global Initiative. Ingredients for Growth So what are Bali's main ingredients for growth? Investments in people, brands and infrastructure, improved efficiencies and cost reduction, and new choices for consumers. For instance, the company has been investing significantly in higher and better quality of human resources both at the front end and at the back end. It has sharply segmented its go-to-market strategy and, unlike an earlier focus on simply increasing the number of outlets it covered, Britannia now has separate teams for general sales, modern trade, institutions, and semi-urban and rural markets. It is building strong capabilities in each of these segments. Britannia has also been working with an international consulting agency for building capabilities in shopper understanding as opposed to consumer understanding. Says Chandra: "These are some finer distinctions we would not even have thought of three years ago." In 2008, Britannia divided its product portfolio into two distinct categories: "health and wellness" and "delight and lifestyle." Products such as Tiger glucose and NutriChoice biscuits fall under the former category, while Good Day and Treat fall under the latter. Each category is headed by a senior executive responsible for outlining distinct growth strategies. Other initiatives include introducing personal consumption packs to attract youth and people on the move, adding transit points such as bus stops and small roadside shops to its distribution network, and addressing workers in the business process out sourcing industry as a potential new market. Meanwhile, Britannia has doubled its ad spending in the last three years. It is also working to increase trade marketing visibility and, for the first time ever, has signed on with a trade marketing agency. According to Mehta, Britannia plans to increase advertising and marketing spending to 10% to 12% of sales over the next few years from a current 7%.

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On the infrastructure front, Britannia has added 200,000 tons of annual capacity, an increase of about 60%. It has also devised a long-term distributed manufacturing strategy, put in place a continuous replenishment supply efficiency system, and strengthened its supply chain management significantly. According to Rajesh Lal, vice president and chief technology officer: "The stocks at our distributors are now replenished within 24 hours, and in the past three years we have increased the availability of our [stock-keeping units] from 60% to 90% across the country." Laladds that cost reductions over the last three years have saved the company $30 million. Bali is looking to leverage all these new pieces for maximum competitive advantage. Sources inside Britannia say revenue targets are $1.25 billion by 2010 and $3 billion by 2015. While Bali won't commit to any numbers, her hunger clearly is to be the best. "There is a huge opportunity out there in the market and it is up for grabs, she says. "What we make of it depends on our ability to commercialize the opportunity. We want to be among the three fastest-growing FMCG companies in the country and to grow profitably." Thoughts for the Future GAIN was already looking to projects further down the supply chain, at the level of production, procurement, even in the fields with fortified seeds and other such products. Milk had been an important food stuff to add to their nutrition efforts. But Dr. Magarinos hoped for even greater reach, We are working on some new ideas, were targeting the retail sector. Engaging the government remained critical. There are lots of diseases India has managed to eradicate, Dr. Sankar noted, such as small pox and polio, through day drives. These have the power of the government behind them. The midday meal is a fairly robust machine, but there are other vehicles as well. Creating relevant partnerships was a key lesson for all participants. You have to start with the doable, said Vinita, we had got our feet wet, ran pilots and experiments, and honed in on our core competence. This project hit our sweet spot: children and nutrition. Britannia hoped to replicate the model of this experience, grow the current partnership in other places, and explore new partnerships. Some of the skills gained went beyond successfully delivering the micronutrients. We also grew our ability to partner, Vinita explained. The biscuit supplement to Naandis midday meal program was unsustainable without funding and support from both Britannia and GAIN. If Britannia could develop two lines of biscuits, Dr. Magarinos noted, one for the school meal program and a commercial line, perhaps the commercial biscuit could cross-sustain the school program biscuit. But margins are very slim. What would happen if food prices went up? But there were additional options, Dr. Magarinos noted. Companies such as Britannia could leverage their success and affiliation with food fortification programs and gain an additional profile among consumers as a health and wellness company, as Unilever was already doing. These are the kinds of people we look to partner with, Dr. Magarinos said. People we think can be change agents. The organizations are always a reflection of their people. At Britannia and Naandi, every single person was focused on addressing the problem of nutrition in India. Given their penetration and outreach, these are the change agents that have the power to reach the market. Identifying sustainable business models that engaged the private and public sectors in partnership and married technical expertise with local knowledge and infrastructure significantly contributed to addressing the nutrition needs of Indias children.
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Yet as the partners looked to the future, there was consensus that addressing issues of nutrition and food fortification in a coordinated manner across all of India would require far greater resources than those provided by individual public/private sector partnerships. Ultimately, Dr. Sankar and the teams at Britannia and Naandi hoped their successes could pave the way for the state and federal governments to find ways to support a national effort to address the challenges of malnutrition and vitamin deficiency across the country.

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Evolution of the Britannia Industries Franchise The Britannia Industries franchise is one of Indias leading brand names in the food and beverage industry. More than a century-old, this biscuit franchise has blazed through the years, growing in leaps and bounds. The snack food franchise offers a wide spectrum with products ranging from the healthy and economical biscuits to the more lifestyle-oriented cheese. The biscuit leader of India has withstood the tests of time with its ability to resonate with the varied changes in consumer needs across the century. Today, it offers a wide range of biscuits, cookies, cakes, bread and crunchy snacks that are hot favourites among the young and the old. The snack food franchise evolved in 1892 in nondescript house in Calcutta, the north-eastern metropolis of India. By 1910, with the advent of electricity, Britannia mechanised its operations, and in 1921, the biscuit franchise became the first company east of the Suez Canal to use imported gas ovens. As time moved on, the biscuit market continued to grow and in 1975, the Britannia Biscuit Company took over the distribution of biscuits from Parry's who till now distributed Britannia biscuits in India. In 1979, Britannia Biscuit Company was re-christened to the Britannia Industries Limited of today. Britannia strode into the 21st Century as one of India's biggest brands and the pre-eminent food brand of the country. Today, the snack food franchise is recognised for its innovative approach to products and marketing.

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Milestones

1892

The Genesis - Britannia established with an investment of Rs. 295 in Kolkata

1910

Advent of electricity sees operations mechanised

1921

Imported machinery introduced; Britannia becomes the first company East of the Suez to use gas ovens

1939 - 44

Sales rise exponentially to Rs.16,27,202 in 1939 During 1944 sales ramp up by more than eight times to reach Rs.1.36 crore

1975 1978

Britannia Biscuit Company takes over biscuit distribution from Parry's Public issue - Indian shareholding crosses 60%

1979

Re-christened Britannia Industries Ltd. (BIL)

1989

The Executive Office relocated to Bangalore

1992

BIL celebrates its Platinum Jubilee

1993

Wadia Group acquires stake in ABIL, UK and becomes an equal partner with Groupe Danone in BIL

1994

Volumes cross 1,00,000 tons of biscuits

1997

Re-birth - new corporate identity 'Eat Healthy, Think Better' leads to new mission: 'Make every third Indian a Britannia consumer' BIL enters the dairy products market "Britannia Khao World Cup Jao" - a major success! Profit up by 37%

1999

2000
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Forbes Global Ranking - Britannia among Top 300 small companies

2001

BIL ranked one of India's biggest brands No.1 food brand of the country Britannia Lagaan Match: India's most successful promotional activity of the year Maska Chaska: India's most successful FMCG launch BIL launches joint venture with Fonterra, the world's second largest dairy company Britannia New Zealand Foods Pvt. Ltd. is born Rated as 'One amongst the Top 200 Small Companies of the World' by Forbes Global Economic Times ranks BIL India's 2nd Most Trusted Brand Pure Magic -Winner of the Worldstar, Asiastar and Indiastar award for packaging

2002

2003

'Treat Duet'- most successful launch of the year Britannia Khao World Cup Jao rocks the consumer lives yet again

2005

Re-birth of Tiger - 'Swasth Khao, Tiger Ban Jao' becomes the popular chant! Britannia launched 'Greetings' range of premium assorted gift packs The new plant in Uttaranchal, commissioned ahead of schedule. The launch of yet another exciting snacking option - Britannia 50-50 Pepper Chakkar Britannia re-launched NutriChoice Hi-Fibre Digestive biscuits in an international large sized biscuit pack. Britannia acquires 51% stake in Bangalore-based bakery foods retailer Daily Bread.

2006

2007

Britannia industries formed a joint venture with the Khimji Ramdas Group and acquired a 70 percent beneficial stake in the Dubai-based Strategic Foods International Co. LLC and 65.4% in the Oman-based Al Sallan Food Industries Co. SAOG. Britannia NutriChoice SugarOut range introduced - 1st of its kind of biscuits to be be launched in India with "No Added Sugar" (Variants - Chocolate Cream, Orange Cream, and Litetime)

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2008

2010

Britannia NutriChoice 5 Grain biscuits launched - Biscuits with the goodness of 5 health Cereals, and sweetened with Natural honey. Britannia Nutrichoice promised consumers "Bhook Bhagao, Kuch Healthy Khao" Britannia launched Iron fortified 'Tiger Banana' biscuits, 'Good Day Classic Cookies', Low Fat Dahi and renovated 'Marie Gold'. 50-50 Maska Chaska was re-launched with a new masaaledar twist - a delightful blend of butter and imported flavors along with sprinkling of masala in September 2010. Tiger enters the Cookies category, with the launch of Krunch Cookies in October. These cookies are not only high on delight but also high on energy and have been created keeping in mind the needs of today's kids, These delightful cookies come in two exciting variants - Fruit & Nut and Chocochips and at an affordable price point of just Rs 5. Brand NutriChoice, in keeping with its track record of launching differentiated healthy snacks, launched Diabetic Friendly Essentials on 14th November, a day that is world over recognized as World Diabetes Day. The range comprised of 2 variants - Oats Cookies and Ragi Cookies - and is available in top Indian cities. Britannia was presented the Master Brand 2010 Award by CMO Council in November 2010. Rotary Club of Chennai awarded CSR Award to Britannia in November, for our work in nutrition.

2011

Always committed to constant innovation, Britannia launched Britannia Healthy Start in Mumbai in January 2011. Specially designed with Indian tastes in mind, Healthy Start is a complete range of ready-to-cook breakfast mixes of Upmas, Pohas, Porridges and Oats that are healthy, delicious, and take just 5 minutes to cook! This is the only product range in its category that combines the natural nutrition of multi-grains, 100% real vegetables, pulses and nuts all in one pack. Britannia received the Most Respected Company Award 2011 from Businessworld. Bourbon received the Most Popular Confectionery Product Preferred By Youth (Biscuit) Award. IMCRBNQA (Indian Merchant Chambers Ramakrishna Bajaj National Quality Award) conferred the Manufacturing Performance Excellence Trophy a National Quality Award for the 2010 cycle, for Britannia Corporate Office (Bangalore), Britannia Industries Ltd. (Rudrapur) and Sunandram Foods Pvt Ltd (Mangaldoi, Guwahati).

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Nishant Bane

Tanya Sharma

Rajesh Gupta

We had a speechless experience visiting the Britannia industries limited. Its just the experience like the quote said by Martin king Luther: If you want something which you never had before; Do something which you have never done before! Britannia was a toughest company to do the PR project. We had lot of failure in beginning. But with our strong determination and clear vision we got success. For the appointment we had to go through a long procedure. The procedure took days but we got a light at the end of tunnel. Mrs Meghan Lama the (HR Manager of Mumbai West) of Britannia Industries Limited, gave us the great interview. Even some Questions which was unanswerable, she gave us the email Id of Vinita Bali the (MD of PR and Brands). We email her our questions and she replied us by giving a wonderful answer. It was a wonderful and knowledge full experience. Later we visited Shangrila factory which was owned by Britannia. Over there we had a great aroma of biscuits and the warm atmosphere inside. It was a tempting feeling. It was an unforgettable happening. On Behalf of group mates I thank my teacher Dr. Kamla Rajiv Madam From bottom of heart for this opportunity.

Mahesh Sapkal 166

Meenal Gawarkar

Shardul Kamate

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