Britannia Biscuit is a household name in the modern business world, with nearly every family, young or old, having tasted its products. But did you know the story behind this globally recognized company, Britannia Industries? Its history predates India’s independence and stretches across 60 countries, starting from a small shop in Kolkata. However, the company is currently making headlines for a different reason – the decision to shut down one of its divisions.
Britannia’s popularity isn’t limited to India; it extends internationally. The company is a global food products corporation headquartered in India, boasting a history older than the nation itself. The origins of Britannia can be traced back to 1892, when it was founded with a mere Rs 295 investment, according to historical records. Interestingly, this corporation was established by British businessmen. The Wadia family now plays a significant role in the company’s operations.
Initially, the company produced biscuits in a small home-based setup. Over the years, the company doubled its biscuit production in 1910 with the help of electric machinery. However, the increasing demand and revenue led to the import of industrial gas ovens in 1921. From there, the Wadia family never looked back and established a large plant in Mumbai in 1924. This marked a significant turning point for Britannia, as its popularity surged.
During World War II, the company’s biscuits gained even greater recognition. A substantial order for biscuits was received to supply the soldiers of India and the Allied forces. This further propelled the company’s growth, and it began introducing new biscuit varieties. Britannia Cake was launched in 1955, followed by Bourbon in 1963. Subsequently, the company rebranded from Britannia Biscuit Company Limited to Britannia Industries Limited on October 3, 1979. Its operations currently span over 60 nations.
What makes Britannia unique is that despite expanding into other product categories like dairy, 80% of its revenue still originates from biscuit sales. Britannia Industries Limited’s market capitalization currently stands at Rs 1.29 lakh crore, led by Chairman Nusli Wadia. On Monday, the company announced the closure of its iconic biscuit facility in Taratala, Kolkata, marking a significant development for the company. While the announcement had a limited impact on the company’s shares on Tuesday, as of 1.30 pm when this article was written, Britannia Share was up 1% at Rs 5,370.
