Affiliated to Guru Gobind Singh Indraprastha University, Delhi 2A & 2B, Madhuban Chowk, Outer Ring Road, Phase-1, Delhi-110085 Cost Sheet Analysis of Britannia Bread STUDENT ‘s DECLARATION This is to certify that I have completed the Project titled “COST SHEET ANALYSIS OF BRITANNIA BREAD” under the guidance of “Ms. NITIKA SHARMA” in the partial fulfillment of the requirement for the award of the degree of “Bachelor in Business Administration” from “Rukmini Devi Institute of Advanced Studies, New Delhi. ” This is an original work and I have not submitted it earlier elsewhere.
Name of the Student – RINKI KHATRI Enrollment No. – 03515901711 Class & Section- BBA – SEMESTER 3 CERTIFICATE OF GUIDE This is to certify that the project titled “COST SHEET ANALYSIS OF BRITANNIA BREAD” is an academic work done by “RINKI KHATRI” submitted in the partial fulfillment of the requirement for the award of the degree of “Bachelors in Business Administration” from “Rukmini Devi Institute of Advanced Studies, New Delhi. ” under my guidance and direction.
To the best of my knowledge and belief the data and information presented by him / her in the project has not been submitted earlier elsewhere.
Name of the Faculty – NITIKA SHARMA Designation of the Faculty RDIAS ACKNOWLEDGEMENT I offer my sincere thanks and humble regards to Rukmini Devi Institute Of Advanced Studies, GGSIP University, New Delhi for imparting us very valuable professional training in MBA. I pay my gratitude and sincere regards to “Ms. Nitika Sharma”, my project Guide for giving me the cream of his knowledge.
I am thankful to him as he has been a constant source of advice, motivation and inspiration. I am also thankful to him for giving his suggestions and encouragement throughout the project work.
I take the opportunity to express my gratitude and thanks to our computer Lab staff and library staff for providing me opportunity to utilize their resources for the completion of the project. I am also thankful to my family and friends for constantly motivating me to complete the project and providing me an environment which enhanced my knowledge. Name of the Student – Rinki Khatri Enrollment No. – 03515901711 Class & Sec – BBA-2-3 SEMESTER Executive Summary This project is an attempt to give knowledge about Cost Sheet Analysis of Britannia Bread. It aims to make its reader well versed with each and every aspects of Britannia Bread.
It throws light on the following:- 1) In 1st chapter you will find the introduction of the project report and its objective. 2) In 2nd chapter you will find the introduction of Britannia Company, its history 3) In 3rd chapter, you will find the research methodology used in the project report. 4) In 4th chapter you will find how data is collected and its analysis. 5) In 5th chapter there are findings and conclusion about 5the project report. 6) In 6th chapter you will find some suggestions about the project. CONTENTS TOPIC PAGE NO Chapter I …………………………………………………….. 8-34 Plan of the Study . 1Introduction to topic 1. 2 Objective of the study 1. 3 Literature review And/or Theoretical Background Chapter II……………………………………………………. 35-43 Company Profile / Industry profile or details Chapter III……………………………………………………44-49 Research Methodology 3. 1 Purpose of the study 3. 2 Research Objectives of the study 3. 3 Research Methodology of the study 3. 3. 1 Research Design 3. 3. 2 Data Collection 3. 3. 3Method of data collection 3. 3. 4Limitations Chapter IV……………………………………………………50-60 Data Analysis and Interpretation Chapter V……………………………………………………. 61-64 Findings & Conclusions Chapter VI……………………………………………………65-66
Suggestion/ Recommendation BIBLIOGRAPHY……………………………………….. 67 ANNEXURES…………………………………………. 68-70 Chapter 1 Introduction MEANING OF COST COST’ represents a sacrifice of values, a foregoing or a release of something of value. It is the price of economic resources used as a result of producing or doing the thing costed. It is the amount of expenditure incurred on a given thing. Cost has been defined as the amount measured in money or cash expended or other party transferred, capital stock issued, services performed or a liability incurred in consideration of goods and serviced received or to be received.
By cost, we mean the actual cost i. e. historical cost. ICWA (UK) defines cost as the amount of expenditure (actual or notional) incurred on, or attributable to a specified thing or activity. CLASSIFICATION OF COST Cost classification is the process of grouping costs according to their common features. Costs are to be classified in such a manner that they are identified with cost center or cost unit. ON THE BASIS OF BEHAVIOUR OF COST Behavior means change in cost due to change in output. On the basis of behavior cost is classified into the following categories: FIXED COST
It is that portion of the total cost which remains constant irrespective of the output upto capacity limit. It is called as a period cost as it is concerned with period. It depends upon the passage of time. It is also referred to as non-variable cost or stand by cost, capacity cost or “period” cost. It tends to be unaffected by variations in output. These costs provide conditions for production rather than costs of production. They are created by contractual obligations and managerial decisions. Rent of premises, taxes and insurance, staff salaries constitute fixed cost. VARIABLE COST This cost varies according to the output.
In other words, it is a cost which changes according to the changes in output. It tends to vary in direct proportion to output. If the output is decreased, variable cost also will decrease. It is concerned with output or product. Therefore, it is called as a “product” cost. If the output is doubled, variable cost will also be doubled. For example, direct material, direct labour, direct expenses and variable overheads. It is shown in the diagram below. SEMI-VARIABLE COST This is also referred to as semi-fixed or partly variable cost. It remains constant up to a certain level and registers change afterwards.
These costs vary in some degree with volume but not in direct or same proportion. Such costs are fixed only in relation to specified constant conditions. For example, repairs and maintenance of machinery, telephone charges, supervision professional tax, etc. ON THE BASIS OF ELEMENTS OF COST Elements means nature of items. A cost is composed of three elements, material, labour and expenses. Each of these elements can be direct and indirect. DIRECT COST It is the cost which is directly chargeable to the product manufactured. It is easily identifiable. Direct cost consists of three elements which are as follows:
DIRECT MATERIAL It is the cost of basic raw material used for manufacturing a product. It becomes a part of the product. No finished product can be manufactured without basic raw materials. It is easily identifiable and chargeable to the product. For example, leather in leatherwares, pulp in paper, steel in steel furniture, sugarcane for sugarcane etc. what is raw material for one manufacturer might be finished product for another. Direct material includes the following: 1. All materials specially purchased for production or the process. 2. All components purchased for production or the rocess. 3. Material transferred from one cost center to another or one process to another. 4. Primary packing materials, wrappings, cardboard boxes etc, necessary for preservation or protection of product. Some of the items like nails or thread in the store are a part of finished product. They are not treated as direct materials in view of negligible cost. DIRECT LABOUR OR DIRECT WAGES It is the amount paid to those workers who are engaged in the manufacturing line for conversion of raw materials into finished goods. The amount of wages can be easily identified and directly charged to the product.
These workers directly handle raw materials, work in progress and finished goods on the production line. Wages paid to the workers operating lathes, drilling, cutting machines etc are direct wages. Direct wages are also as productive labour, process labour or prime cost labour. Direct wages include the payment made to the following group of workers: 1. Labour engaged on the capital production of the product. 2. Labour engaged in aiding the operations viz. Supervisor, Foreman, Shop clerks and Worker on internal transport. 3. Inspectors, Analysts needed for such production. DIRECT EXPENSES OR CHARGEABLE EXPENSES
It is the amount of expenses which is directly chargeable to the product manufactured or which may be allocated to product directly. It can be easily identified with the product. For example, hire charges of a special machine used for manufacturing a product, cost of designing the product, cost of patterns, architects fees/surveyors fees, or job cost of experimental work carried out especially for a job etc. Cost of special drawings, cost of special layout designs, patents, patterns, cost of models, surveyors fees, Excise duty, royalty on production, cost of rectifying defective work.
Utility of such expenses is exhausted on completion of job. INDIRECT COST It is that portion of the total cost which cannot be identified and charged directly to the product. It has to be allocated and apportioned and absorbed over the units manufactured on a suitable basis. It consists of the following three elements: INDIRECT MATERIAL It is the cost of the material other than direct material which cannot be charged to the product directly. It cannot be treated as a part of the product. It is also known as expenses materials.
It is the material which cannot be allocated to the product but which can be apportioned to the cost units. Examples are as follows: 1. Lubricants, cotton waste, oil, grease, stationery etc 2. Small tools for general use 3. Some minor items such as thread in dress making, cost of nails in shoemaking etc INDIRECT LABOUR It is the amount of wages paid to those workers who are not engaged on the manufacturing line, for example, wages of workers in administration department, watch n ward department, sales department, general supervision. INDIRECT EXPENSES
It is the amount of expenses which is not chargeable to the product directly. It is the cost of giving service to the production department. It includes factory expenses, administrative expenses, selling and distribution expenses etc. Overheads Or On Cost Or Burden Or Supplementary Cost Aggregate of indirect cost is referred to as overheads. It arises as a result of overall operation of a business. According to Weldon overheads mean, ”the cost of indirect material, indirect labour and such other expenses, including services as cannot conveniently be charged direct to specific cost units”.
It includes all manufacturing and non-manufacturing supplies and services. These costs cannot be associated with a particular product. The principal feature of overheads is the lack of direct traceability to individual product. It remains relatively constant from period to period. The amount of overheads is not directly chargeable i. e. it has to be properly allocated, apportioned and absorbed on some equitable basis. CLASSIFICATION OF OVERHEADS * On the basis of functions * Factory overheads It is the aggregate of all the factory expenses incurred in connection with manufacture of a product.
These are incurred in connection with running of factory. It includes the items of expenses viz, factory salary, work managers salary, factory repairs, rent of factory premises, factory lighting, lubricants, factory power, drawing office salary, haulage (cost of internal transport) depreciation of plant and machinery unproductive wages, estimation expenses, royalties, loose tools w/ off, material handling charges, time office salaries, counting house salaries etc. ADMINISTRATIVE OR OFFICE OVERHEADS It is the aggregate of all the expenses as regards administration.
It is the cost of office service or decision-making. It consists of the following expenses: Staff salaries, printing and stationery, postage and telegram, telephone charges, rent of office premises, office conveyance, printing and stationery and repairs and depreciation of office premises and furniture etc. SELLING & DISTRIBUTION OVERHEADS It is the aggregate of all the expenses incurred in connection with sales and distribution of finished product and services. It is the cost of sales and distribution services.
Selling expenses are such expenses which are incurred acquiring and retaining customers. It includes the following expenses: a- Advertisement b- Show room expenses c- Traveling expenses d- Commission to agents e- Salaries of Sales office f- Cost of catalogues g- Discount allowed h- Bad debts written off i- Commission on sales j- Rent of Sales Room k- Sample and Free gifts l- After sales service expenses m- Expenses on demonstration and technical advice to prospective customers n- Free repairs and servicing expenses o- Expenses on market research – Fancy packing and demonstration. Distribution expenses include all those expense which are incurred in connection with making the goods available to customers these expense includes the following (a) Packing charges (b) Loading charges (c) Carriages on sales (d) Rent on warehouse (e) Insurance and lighting of warehouse (f) Insurance of delivery van (g) Expense on delivery van (h) Salaries of Godownkeeper, drivers and packing staff. COST SHEET For determination of total cost of production a statement showing the various elements of cost is prepared.
This statement is called as a statement of cost or cost sheet. Cost sheet is a statement which provides assembly of the detailed cost of a cost center or a cost unit. It is a statement showing the details of a) total cost of job b) Cost of an operation or order. It brings out the composition of total cost in a logical order under proper classifications & sub-divisions. The period is covered by the cost sheet may be by a week a month or so. Separate columns are provided to show total cost, cost per-unit etc. In case of different products there are ifferent cost sheets for different products. A cost sheet is prepared under output or unit costing method. PURPOSE OF COST SHEET 1. It gives the breakup of total cost under different elements. 2. It shows total cost as well as cost per unit. 3. It helps in comparison with previous years. 4. It facilities preparation of tenders or quotations. 5. It enables the management to fix up selling price. 6. It controls cost. DIVISIONS OF COST PRIME COST It comprises of all direct materials, direct labour and direct expenses.
It is also known as flat cost Prime cost = Direct Materials + Direct Labour + Direct Expenses WORKS COST It is also known as a factory cost or cost of manufacture. It is the cost of manufacturing an article. It includes prime cost and factory expenses. Works Cost = Prime Cost + Factory Overheads COST OF PRODUCTION It represents factory cost plus administrative expenses. Cost of Production = Factory Cost + Administrative Expenses TOTAL COST It represents cost of production plus selling and distribution expenses.
Total Cost= Cost of Production + Selling & Distribution Expenses SELLING PRICE It is the price which includes total cost plus margin of profit or minus loss, if any. Selling Price = Total Cost + Profit (-Loss) NON COST ITEMS Non-cost items are those items which do not form part of cost of a product. Such items should not be considered while ascertaining the cost of a product. These are items included in the Profit & Loss A/c. These will not come in the cost sheet a) Income tax b) Interest on capital c) Interest on loan ) Profit on Sale of fixed assets e) All the assets f) Donations g) Capital Expenditure h) Discount on shares & Debentures i) Commission to Partners, Managers etc j) Brokerage k) Preliminary Expenses Written off. l) Wealth tax etc m) Bonus to directors and employees if it is based on profit, expenses of raising capital, penalties & fines. UTILITY OF COST SHEET DETERMINE THE TOTAL COST A total cost sheet (statement) helps in determining aggregate cost of manufacturing a product or providing a service. DETERMINING PRODUCT PRICE
A cost sheet helps in identifying the total cost for a product or service which in turn helps in properly pricing of products & services. COST REDUCTION OR COST CONTROL Cost sheets helps in identifying the total cost stage wise & any unwanted cost can be curtailed. PREPARE BUDGETS A cost statement helps in preparing budget for each department PROFIT PLANNING It helps to minimize cost & increase profits. 1. STAGE WISE COST IDENTIFICATION Costs such as prime cost, factory cost, cost of production, cost of goods sold, total cost of sale etc. 2.
DETERMINE THE COST PER UNIT This helps in determining cost per unit on which u can predict further cost. DETERMINATION OF TOTAL COST Cost of product is determined as per cost attach concept. Total cost of a product consists of various elements of cost which have the quality of coherence. All the elements of cost can be grouped and regrouped. Grouping and regrouping of various elements of cost leads to significant divisions of cost. The logical process of determination of cost by grouping and regrouping various elements is illustrated as follows: COST SHEET PROFORMA OF COST SHEET
PARTICULARSOpening Stock Raw Materials Add: Purchase Add: Carriage Inward Add: Octroi and Customs Duty Less: Closing Stock of Raw MaterialsCost of Direct Material ConsumedDirect WagesDirect or Chargeable Wages PRIME COST Add: Works of Factory Overheads: Indirect Materials Indirect Wages Leave Wages Bonus to Workers Overtime Wages Fuel and Power Rent and Taxes Insurance Factory Lightings Supervision Works Stationary Canteen and Welfare Expenses Repairs Works Salaries Depreciation of Plant and Machinery Works Expenses Gas and Water Technical Director’s Fees Laboratory Expenses Works Transport Expenses Works Telephone ExpensesAdd: Opening Stock of Work-in-ProgressLess: Closing Stock of Work-in-ProgressLess: Sale of Waste WORKS COST Add: Office and Administration Overheads: Office Salaries Directors Fees Office Rents And Rates Office Stationary and Printing Sundry Office Expenses Depreciation on Office Furniture Subscription to Trade Journals Office Lightings Establishment Charges Directors Traveling Expenses Consultants Fees Contribution to Provident Fund Postage Legal Charges Audit Fees Bank Charges Depreciation And Repairs of Office Equipments Bonus to Staff COST OF PRODUCTIONAdd :Opening Stock of Finished GoodsLess: Closing Stock of
Finished Goods COST OF GOODS SOLDAdd: Selling and Distribution Overheads Advertising Show Room Expenses Salesman’s Salaries and Expenses Packing Expenses Carriage Outward Commission of Sales Agents Cost of Catalogues Expenses of Delivery Vans Collection Charges Traveling Expenses Cost Tenders Warehouse Expenses Cost of Mailing Literature Sales Manager’s Salaries Insurance of Showroom Sales Director’s Fees Sales Office Expenses Rent of Sales Office Depreciation of Delivery Vans Expenses of Sales Branch Establishments Branch Office Expenses TOTAL COST/TOTAL OF SALESProfit or Loss SALES| TOTAL COST Rs.
XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXX XXXXXXXXXXXXXXXXXX XXXXXX XXX XXX XXXXXX XXXXXX XXX XXX XXXXXX XXX XXX XXX
XXX | | ESTIMATION OF COST Very often, the management desires to know, ‘what will be the cost? ’ even before the production starts. The purpose to know the cost before it is incurred, might be different. It may be to keep the cost within control or it may be used for profit planning. May times it is required to submit tenders, to give quotations, to prepare price lists etc. For this purpose the estimations of “probable cost” of production is essential. This requires the past cost data to be analysed, present circumstances are taken into consideration and future is projected. The technique is known as estimation of cost.
This involves the study of each and every element of cost and their nature of behaviour . Keeping in view the nature of behaviour of elements of cost, it can be classified into following three categories: FIXED COST Fixed cost is that cost which remains unaffected even though there is change in the level of output. It remains constant at all levels of output for a given period of time. Examples of such costs are rent, rated and taxes of factory premises, salary of general manager, foreman, watchman, insurance, depreciation etc. These expenses incur according to the unit of time and not according to level of production. Hence sometimes it is called as periodic cost.
For example such fixed cost is ascertained of a particular concern Rs. 12000 pm. The capacity of this concern is to produce 1000 units pm. If they produce 100 units or 500 units or 700 units or 100 units the fixed cost will remain constant at all these levels of output. This fixed cost remains fixed at all levels of output, but the cost per unit changes if there is a change in the level of output. VARIABLE COST It is the cost which tends to vary directly with the volume of output. If there is increase in output this cost increases and vice versa. The change in the variable cost takes place in the same direction in which the level of output changes.
This cost consists of direct materials, direct wages, direct expenses and some part of indirect expenses which varied according to the level of output. Say for example if standard unit of final product requires the raw materials of Rs. 20 per unit the expenses on direct materials will change if level of output changes. However variable cost per unit will remain unchanged provided the price level does not change. SEMI-VARIABLE COST This is the third category of nature of behavior of the expenses. These expenses are neither fixed nor variable. These expenses change in the same direction in which the level of output changes. Thus these expenses are partly fixed partly variable in nature. Examples of such expenses are depreciation of plant and machinery, maintenance of factory building etc.
These expenses will increase if factory is run from single shift to double or triple shifts. Depreciation and maintenance will increase but not in the same ratio, the output increases. Thus these expenses are neither fixed nor variable cent percent. Hence they are called as semi variable expenses. OBJECTIVES OF THE STUDY 1. This project was undertaken to have an insight into the cost structure of Britannia. 2. The objective of cost sheet analysis is to determine the cost and with this cost we can find profit margin for the Britannia. 3. To study how cost sheet analysis is helping the Britannia Company in controlling the cost. 4. To analyse the cost of advertisement done by Britannia Company through cost sheet analysis. 5.
To study, how Britannia Company determine the cost of its product through cost sheet analysis. LITERATURE REVIEW The multi-billion food and beverage industry comprises several markets including bakery products such as bread, biscuits etc. , milk and dairy products, beverages such as tea, coffee, juices, bottled water etc. , snack food, chocolates, etc. beverage, confectionery, processed foods and others. India’s Food and Beverage industry is valued at Rs. 3584 billion. India produces above 600 million tonnes of food products every year and is one of the major producers of food in the world. The food and beverage industry registered a growth rate of 8. 5% in 2005-06.
With increase in disposable income of consumers, growing awareness among consumers about health products, rapid urbanization, and increasing popularity of convenience foods, food and beverage sector is expected to grow at a high rate. This sector holds a huge potential to grow because of the increase in advertisement spending, awareness campaign about products in urban as well as rural areas, and large scale transformation. The food and beverage industry is primarily driven by consumer health trends. Presently, the food and beverage industry is in a dynamic phase, marked by a high degree of competition. As product development within the food and beverage market moves towards a focus on health and nutrition, the growth and development of food manufacturers in the market depends on having prudent strategies in place, which can be applied globally.
In effect, this has created a highly competitive market place, which fosters growth of participants with a clear vision of “growing with their customers. ” The major players in the “Food and Beverage” Industry is: Heinz, Mars, Marico, Conagra, Pepsi, HLL, Pillsbury, Nestle, Amul, ITC, Dabur, Britannia, Cadbury, Smith Kline Beecham, The Surya Food and Agro Private Ltd. Bakery industry in India is probably the largest among the processed food industries, production of which has been increasing steadily in the country. Bakery products once considered as sick man’s diet have now become essential food items of the vast majority of population. The two major bakery industries, viz. bread and biscuit account for about 82% of the total bakery products. The annual production of bakery products which includes bread, biscuits, pastries, cakes, buns, rusk, etc. , most of which are in the unorganized sector, is estimated to be in excess of 3 million tonnes. The production of bread and biscuits in the country both in the organized and unorganized sectors is estimated to be around 1. 5 million tonnes and 1. 1 million tonnes respectively. Of the total production of bread and biscuits, about 35% is produced in the organized sector and the remaining is manufactured in the unorganized sector. Indian Bakery sector is indicating significant growth both in terms of volumes and customer base.
The sector, which is estimated at Rs 3,500 crore, is currently registering a 40% growth according to industry sources. The production of Bakery products has increased from 5. 19 lakh tonnes in 1975 to 18. 95 lakh tonnes in 1990 recording four-fold increase in 15 years. Some of the well-known and most frequented bakeries in the country are Sweet Chariot, Modern Bakery, Daily Bread in Bangalore, Monginis, Birdie’s, Croissants in the west, and in the north and eastern parts of the country, there are quite a few big players too. Bread is the cheapest and basic instant food available for consumption. Though bread is not a staple food in the country, its consumption has increased over the years.
In India it is still a secondary staple food when compared to chapatti, puri or rice. The different types of bread available are White bread, Whole meal or whole wheat bread, mixed grain bread, Kibbled wheat and cracked wheat bread, Fibre-increased white breads, Rye bread Chapter 2 Company Profile INTRODUCTION TO BRITANNIA INDUSTRIES Britannia Industries Limited (BIL) is a major player in the Indian Foods market with leadership position in Bakery category. Its brand portfolio includes Tiger, Marie Gold, Good Day, 50:50 and Treat. The Company was born in 21st March of the year 1918 as a public limited company. The Company’s plants are situated in Kolkata, Delhi, Chennai, Mumbai and Uttarakhand.
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. A new factory was established in the year 1924 at Kasara Pier Road in Mumbai. In the same year, the Company became a subsidiary of Peek, Frean & Company Limited, U. K. , a leading biscuit manufacturing company, and further strengthened its position by expanding he factories at Calcutta and Mumbai. In 1952, the Kolkata factory was shifted from Dum Dum to spacious grounds at Taratola Road in the suburbs of Kolkata. During the same year automatic plants were installed in Calcutta and later in 1954 the automatic plants were installed in Mumbai plant, also in the same year the development of high quality sliced and wrapped bread in India was initiated by the company and was first manufactured at Delhi and a new bread bakery was set up at Delhi in the year 1965. Britannia Biscuit Company takes over biscuit distribution from Parry’s during the year 1975. In 1976, the company had introduced Britannia bread in Calcutta and Chennai.
During the year 1978, the company made Public issue, in that Indian shareholding crossed 60%. The Company re-christened from Britannia Biscuit Company Limited to Britannia Industries Limited with effect from 3rd October of the year 1979. The Company had signed a 10-year technical collaboration agreement with Nebico Pvt Ltd. , Nepal during the year 1980 for the supply of know-how relating to manufacturing, packaging and marketing of biscuits and selection of plant and machinery. During the year 1989, BIL’s Executive Office was relocated to Bangalore. During the year 1990, two new brands of biscuits, Elaichi Creamand and Petit Beurre were launched.
Also, in the same year a new cashew badam variant of the brand Milk Bikis and brand extension of pure magic biscuit Vanilla cream were launched, Fruit bread was launched in Delhi. The Company launched two new speciality brands in the year 1991 viz. , Britannia milk bread and Britannia brown bread in Delhi and extended nationally its main brands Petit Beurre and Elaichi Cream. In 17th August of the year 1991, the Company handed over its Soya unit at Vidisha, MP to SM Dychem Ltd. BIL had celebrated its Platinum Jubilee in the year 1992. After a year in 1993, Wadia Group had acquired the stake in ABIL, UK and becomes an equal partner with Group Danone in BIL.
The Company was in re birth phase during the year 1997, new corporate identity ‘Eat Healthy, Think Better’ leads to new mission of ‘Make every third Indian a Britannia consumer’ and in the same year BIL entered into the dairy products market. In 1998, BIL had launched Half/Half, a soft cake filled with cream in two variants, chocolate-vanilla and vanilla-orange. The Company had rolled out its flavored milk brand Zip-Sip’ in tetrapaks in the year 1999. Zip-Sip had been launched in Mumbai and some markets in the South. Forbes Global Ranking was rated the company during the year 2000, Britannia among Top 300 small companies. In the same year, the company had launched Britannia Milkman Butter, a product under the Milkman brand.
BIL made its fund in-principle agreement to acquire 49 per cent of Kwality Biscuits in the year 2001 through internal accruals. During the year 2002, the company had entered into a joint venture with the Fonterra Cooperative Group, New Zealand’s biggest company and one of the leading diary co-operative groups in the world and the Britannia New Zealand Foods Pvt. Ltd was born. Pure Magic, the company’s product was winner of the Worldstar, Asiastar and Indiastar award for packaging in the same year 2002. After a year, in 2003, BIL had launched ‘Treat Duet’, most successful of the year and Britannia Khao World Cup Jao rocks the consumer lives yet again.
During the year 2004, Britannia accorded the status of being a ‘Superbrand’ and the brand Good Day added a new variant Choconut in its range. Reviewed marketing alliance with the Kolkata-based Thacker Dairy Products Pvt Ltd. In the year 2005, Britannia New Zealand had launched health drink for adult. The new plant in Uttaranchal, commissioned during the year 2005, it was ahead of schedule. In the same year, launched yet another exciting snacking option the Britannia 50-50 Pepper Chakkar. BIL had forged a strategic alliance with CCD Daily Bread Pvt Ltd in the year 2006, a Bangalore based Company engaged in manufacturing and retailing of premium breads, cakes snacks and high end ready to eat foods.
In the year 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. The company was rated as the No 1 Most Trusted Food Brand in a survey conducted by AC Nielsen ORGO-MARG and published in Economic Times in the year 2007. Britannia launched Iron fortified ‘Tiger Banana’ biscuits, ‘Good Day Classic Cookies’, Low Fat Dahi and renovated ‘MarieGold’ during the period of 2008. BIL was ranked 27th place in the list of India’s Fastest Growing Larg