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History of Biscuits
Board of Directors
Company Overview
Management Team
Origin of Britania
Britania Brands
Code of Conduct
Financial Performance
Export Overseas
Milestone Export
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` ?weet or salty. ?oft or crunchy. ?imple or exotic.
Everybody loves munching on biscuits, but do they
know how biscuits began?
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.
   

 
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` 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-
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 ?uez
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 Indianness of the firm. The following year, Britannia Biscuit Company was re- 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'.
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` Britannia -the 'biscuit' leader with a history-
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-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 "?wasth Khao Tan Man Jagao" (Eat Healthy, Think
Better) re-
re-position 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,
optimistic - and combining it with a delightful product range to offer variety and choice to
consumers.
  
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` Thick, rich and delicious

chocolate packed between two
crunchy chocolate biscuits,
topped with sugar crystals -
presenting, the original
Bourbon
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` 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 p
  p

 (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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` 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-
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-
2007-08. This
business has doubled in two years.
In an intensely competitive biscuit environment, all ³Power Brands²
of the Company recorded double digit growth, with Tiger and Good
Day growing in excess of 20%. The Company¹s 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 beingGlucose.
The business continued to face inflationary pressure in key raw
materials such as wheat flour, refined palm oil, skimmed milk
powder and other dairy products, as well as energy costs. These
were more than offset on the cost side through operational and
procurement efficiencies, productivity improvements, cost reduction
programs and on the revenue side through improved product mix
and higher realisation, aided by strong consumer off take.
 


In March 2007, 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 ?trategic Food International Co. LLC and
Oman based Al ?allan Food Industries Co ?AOG. The two companies are
key regional players in the biscuits, wafers and cookies segment in the GCC
markets and export their products across the world.

?trategic Food International Co. LLC (?FIC) is one of the largest biscuit and
wafer manufacturing companies in the Middle East. An I?O and HACCP
certified company, ?FIC 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.
 

 
` '(ºThe Genesis - Britannia established with an investment of Rs. 295 in Kolkata.
`
()Advent of electricity sees operations mechanised.
`
(ºImported machinery introduced; Britannia becomes the first company East of the ?uez to use gas ovens.

` ((* ?ales 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.
`
(+"Britannia Biscuit Company takes over biscuit distribution from Parry's
`
(+(Re-christened Britannia Industries Ltd. (BIL)
`
('?ales cross Rs.100 crore
`
((ºBIL celebrates its Platinum Jubilee
`
((Wadia Group acquires stake in ABIL, UK and becomes an equal partner with Groupe Danone in BIL.
`
((Volumes cross 1,00,000 tons of biscuits.
`
((+Re-birth - new corporate identity 'Eat Healthy, Think Better' leads to new mission.

` ((("Britannia Khao World Cup Jao" - a major success! Profit up by 37%

`
º)))Forbes Global Ranking - Britannia among Top 300 small companies
 

 
` º))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.

` º))ºBIL 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 ?mall 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.
` º))'Treat Duet'- most
successful launch of the year Britannia Khao World Cup Jao rocks the consumer lives yet
again º))Britannia accorded the status of being a '?uperbrand' Volumes cross 3,00,000 tons of biscuits
Good Day adds a new variant - Choconut - in its range.
`
` º))"Re-birth of Tiger - '?wasth 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.
`
` º))+Britannia industries formed a joint venture with the Khimji Ramdas Group and acquired a 70 percent
beneficial state in the Dubai-based ?trategic Foods International Co. LLC and 65.4% in the Oman-based Al
?allan Food Industries Co. ?AOG. º))'Britannia launched Iron fortified 'Tiger Banana' biscuits, 'Good
Day Classic Cookies', Low Fat Dahi and renovated 'MarieGold'
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