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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Britannia IndustriesNSE:BRITANNIA -1.95%94 Return-on-Tangible-Equity is 54.73% as of Mar. 2026, which is 8% above its 10-year median of 50.60. GuruFocus rates NSE:BRITANNIA with a GF Score™ of 94/100 and a GF Value™ of ₹6,134.33 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 1,880 Consumer Packaged Goods companies, Britannia Industries ranks better than 93.35% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Britannia Industries's annualized net income for the quarter that ended in Mar. 2026 was ₹27,134 Mil. Britannia Industries's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₹49,575 Mil. Therefore, Britannia Industries's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 54.73%.
The historical rank and industry rank for Britannia Industries's Return-on-Tangible-Equity or its related term are showing as below:
NSE:BRITANNIA'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 31.39 Med: 50.6 Max: 80.13
Current: 59.55
During the past 13 years, Britannia Industries's highest Return-on-Tangible-Equity was 80.13%. The lowest was 31.39%. And the median was 50.60%.
NSE:BRITANNIA's Return-on-Tangible-Equity is ranked better than 93.35% of 1880
companies
in the Consumer Packaged Goods industry
Industry Median: 7.87
vs NSE:BRITANNIA: 59.55
Britannia Industries (NSE:BRITANNIA) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Britannia Industries Return-on-Tangible-Equity Related Terms
Britannia Industries Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Britannia Industries's Return-on-Tangible-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Britannia Industries Return-on-Tangible-Equity Chart
NSE:BRITANNIA vs KHC, GIS: Return-on-Tangible-Equity Comparison
For the Packaged Foods subindustry, Britannia Industries's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Britannia Industries Return-on-Tangible-Equity vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Britannia Industries's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Britannia Industries's Return-on-Tangible-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 54.73% mean?
Britannia Industries (NSE:BRITANNIA) has a Return-on-Tangible-Equity of 54.73% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Britannia Industries and its competitors. This is near median its historical median of 50.60. Over the past decade, Britannia Industries' Return-on-Tangible-Equity has ranged from 31.39 to 80.13. According to the industry distribution chart, Britannia Industries ranks #125 out of 1880 companies in the Consumer Packaged Goods industry, placing it in the top 6.6%.
Is Britannia Industries' Return-on-Tangible-Equity too high?
Britannia Industries' current Return-on-Tangible-Equity of 54.73% is near median its 10-year median of 50.60. Over the past 10 years, this metric has ranged from a low of 31.39 to a high of 80.13. The Consumer Packaged Goods industry median Return-on-Tangible-Equity is 7.87. Britannia Industries' value of 54.73% is 595.4% above this industry median. Based on the distribution chart, Britannia Industries ranks #125 out of 1880 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Britannia Industries has a GF Score™ of 94/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Britannia Industries' Return-on-Tangible-Equity compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Britannia Industries ranks #125 out of 1880 companies for Return-on-Tangible-Equity. This places Britannia Industries in the top 7% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 7.87. Britannia Industries' value of 54.73% is 595.4% above this benchmark. Historically, Britannia Industries' own Return-on-Tangible-Equity has ranged from 31.39 to 80.13 over the past decade. While the company's 10-year median is 50.60 vs. the industry median of 7.87, Britannia Industries has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for a Consumer Packaged Goods company?
The median Return-on-Tangible-Equity among Consumer Packaged Goods companies is 7.87, based on 1,880 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Britannia Industries's current Return-on-Tangible-Equity of 54.73% is 595.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Britannia Industries and its competitors. For the Consumer Packaged Goods industry, the median Return-on-Tangible-Equity is 7.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Britannia Industries's current Return-on-Tangible-Equity is 54.73%, which is near median its own 10-year median of 50.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Britannia Industries stock overvalued right now?
Based on GuruFocus' analysis, Britannia Industries (NSE:BRITANNIA) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹6,134.33, compared to a current price of ₹5,416.50 — trading 11.7% below its estimated fair value. The current Return-on-Tangible-Equity is 54.73%, which is near median its 10-year median of 50.60 and 595.4% above the Consumer Packaged Goods industry median of 7.87. Britannia Industries' overall GF Score™ is 94/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Britannia Industries (NSE:BRITANNIA), the current Return-on-Tangible-Equity is 54.73% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Britannia Industries (NSE:BRITANNIA) Overvalued in 2026?
Based on GuruFocus' analysis, Britannia Industries stock appears to be undervalued.
The current stock price of ₹5,416.50 is trading 11.7% below its estimated GF Value™ of ₹6,134.33.
GuruFocus considers Britannia Industries to be Modestly Undervalued.
Key valuation signals for NSE:BRITANNIA:
Return-on-Tangible-Equity: 54.73% (near median its 10-year median of 50.60)
GF Value™: ₹6,134.33 vs. price of ₹5,416.50 (11.7% below fair value)
Industry Position: 595.4% above the Consumer Packaged Goods median (#125 of 1880)
No single metric tells the full story. See the NSE:BRITANNIA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AddressWhitefield Main Road, The Business Precinct, Tower C, 15th, 16th & 17th Floor, Prestige Shantiniketan, Mahadevapura Post, Bengaluru, KA, IND, 560048
Britannia Industries Ltd is an Indian packaged-food company involved in the Manufacturing, trading, and selling food products. Its main product categories are biscuits, breads, dairy, cakes, and rusks. The biscuits product line offers sweet biscuits under the GoodDay brand, crackers under the Five thousand fifty brands, nutritional and digestive biscuits under the NutriChoice brand, and other products. The bread products segment offers whole-wheat breads, white sandwich breads, and bread assortments. The dairy product line sells cheese, milk, and yogurt under the Britannia brand. The cake segment offers bar cakes, muffins, and many more. The operating segment of the Company is identified to be Foods.
94GF Score
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