Britannia Industries Share Price Falls Over 6% After MD & CEO Varun Berry Resigns

Market Performance

The Indian stock market reacted sharply on Tuesday, with Britannia Industries’ share price dropping over 6% in early trade. The sudden move came right after the company announced the resignation of its long-serving MD & CEO, Varun Berry.

In early trade, Britannia Industries' share price today dropped to ₹5,754, reflecting how investors processed the surprise leadership change. The stock has remained volatile in recent sessions—down over 5% in the last five trading days, though it still holds a 4% gain over the past six months.

Main News: Varun Berry Steps Down, New CEO Appointed

The big headline in the Indian stock market today was the exit of Varun Berry. His resignation came ahead of the end of his term in 2029. The board accepted his decision immediately and waived the notice period.

Britannia announced that Rakshit Hargave will step in as the new CEO from December 15. He will also take charge as the new Managing Director on the same day. Until then, the company’s CFO, N Venkataraman, will lead operations as the interim CEO.

The news created a moment of pause for the market, given Berry’s long impact-driven run at the company.

Company Details: A Decade of Big Shifts Under Varun Berry

Britannia’s journey under Varun Berry has been one of notable transformation. His leadership reshaped the company’s scale, efficiency, and market visibility.

Here is how the numbers looked during his tenure:

• Revenue: Grew 2.5×
• Margins: Expanded 900+ basis points
• Net Profit: Increased sixfold
• Market Capitalisation: Jumped 18× to ₹1.47 lakh crore

Over the years, Britannia sharpened its operations by focusing on five key areas: distribution, marketing, innovation, cost efficiencies, and building adjacent businesses. These shifts helped the company strengthen margins and improve profitability consistently.

Summary

The leadership change at Britannia marks the end of an important chapter. The immediate fall in Britannia Industries' share price reflects market nervousness around sudden transitions.

The numbers show how much the company scaled under Berry’s leadership:

• Revenue up 2.5×
• EBITDA margins rising from 6.8% in FY13 to 17.8% in FY25
• PAT margins improved from 4.2% to 12.3% over the same period

With Britannia Industries shares reacting sharply, the focus now shifts to how the new leadership shapes the next phase. For now, the resignation remains the key trigger driving stock market today conversations around the FMCG major.