Britannia Industries names Varun Berry as new CEO
The company, known for brands like Good Day, Tiger, and NutriChoice, noted Berry’s successful history in leading start-ups, joint ventures, and business growth.
INDIA – Britannia Industries, a major Indian food products company, has appointed Varun Berry as its new CEO, in addition to his existing roles as executive vice-chairman and managing director, according to a stock exchange announcement.
Berry joined Britannia in 2013 as vice president and chief operating officer and has over 38 years of experience with companies like Hindustan Unilever and Pepsico, both in India and abroad.
Berry holds a Bachelor’s degree in Mechanical Engineering from Punjab University and has completed executive programs in Strategic Management from Wharton and the Global Leadership Program at IMD, Switzerland.
Looking forward, Berry stated that Britannia will closely monitor commodity prices and their effects while focusing on achieving healthy, profitable growth and enhancing market leadership.
This announcement follows the resignation of Rajneet Kohli, the former CEO and executive director, effective March 14, 2025, as disclosed in a stock exchange filing on March 6, 2025.
Kohli requested to waive his notice period in his resignation letter, as he intends to pursue another opportunity.
During his tenure, Kohli, who holds an MBA from the University of Wales, Cardiff, made significant contributions to the company’s goal of becoming a responsible “Global Total Foods Company.”
Kohli’s departure came shortly after another senior executive, Amit Doshi, the chief marketing officer, resigned on January 31, with his last working day set for March 17.
Release of Q4 plus fiscal year results
In conjunction with the CEO announcement, Britannia released its financial results for the fourth quarter and the full fiscal year ending March 31.
The company reported a quarterly revenue of Rs44.32 billion (US$519M), reflecting a 9.3% year-on-year increase, while total comprehensive income rose by 4.2% to Rs5.56 billion (US$65.5M).
Net profit for the quarter increased to Rs5.59 billion (US$65.9M) from Rs5.36 billion (US$63M) the previous year. Berry highlighted that these results demonstrate the company’s resilience amid challenges such as rising commodity prices and subdued demand in the FMCG sector.
For the entire fiscal year, consolidated revenue from operations grew by 7% to Rs179.42 billion (US$2B), and total comprehensive income increased by 2% to Rs21.84 billion (US$257M).
Net profit for the year saw a slight rise to Rs21.77 billion (US$256M) from Rs21.34 billion (US$251M) the previous year, with basic and diluted earnings per share up by 1.8% to Rs90.45 (US$1.07).
The board has proposed a final dividend of Rs75 (US$0.88) per equity share for FY2024–25, pending approval at the AGM.
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