From ₹295 to ₹17,000 Crore: Britannia's 132-Year Journey

In 1892, a group of British businessmen invested just ₹295 to start a small biscuit-making operation in a house in central Kolkata. During World War II, they devoted 95% of their production to supply British Army soldiers. In 1993, Kerala businessman Rajan Pillai—known as the "Biscuit Raja"—lost control to textile tycoon Nusli Wadia in a dramatic corporate battle. Today, Britannia Industries commands 33% of India's organized biscuit market, generates ₹17,000+ crore annually, and is one of India's oldest existing companies. This is the story of how a British colonial venture became an Indian icon, surviving wars, ownership battles, and 132 years of market evolution.

The Colonial Beginning: ₹295 in Kolkata (1892)

In 1892, a group of British businessmen established a biscuit company in Kolkata with an initial investment of just ₹295. The humble operation manufactured biscuits in a small house in central Kolkata, primarily serving British officers and tea planters in India. At that time, biscuits were considered a Western concept, consumed mainly by the colonial elite with tea.

The business changed hands early. In 1897, the company was acquired by two brothers known as the Gupta brothers, mainly Nalin Chandra Gupta, an attorney. The business operated under the name "V.S. Brothers" during this period. The Gupta brothers recognized the growing demand as locals gradually developed a taste for biscuits.

Mechanization and Partnership: Birth of a Company (1910-1918)

In 1910, operations were mechanized with the advent of electricity—a significant technological leap that enabled increased production capacity and consistency. As demand grew and operations expanded, the need for formal corporate structure became apparent.

On March 21, 1918, an Englishman named C.H. Holmes, a businessman based in Kolkata, was taken on as a partner. Together with the Gupta brothers, they incorporated the unit under the Companies Act, VII of 1913, and The Britannia Biscuit Company Limited (BBCo) was officially launched. The company was now a public limited entity, positioned for growth.

Technological Leadership: First to Use Gas Ovens (1921)

In 1921, Britannia made history by becoming the first company east of the Suez Canal to use imported gas ovens. These industrial gas ovens from abroad enabled mass-scale production, dramatically increasing output and establishing Britannia's reputation for adopting modern manufacturing technology. The company's business was flourishing, and more importantly, Britannia was acquiring a reputation for quality and value.

National Expansion: The Mumbai Factory (1924)

A new factory was established in 1924 in Mumbai (then Bombay) at Kasara Pier Road. In the same year, Peek Frean & Company Limited UK, a leading biscuit manufacturing company, acquired a controlling interest in BBCo, becoming the parent company. This partnership further strengthened Britannia's position by expanding factories at both Calcutta and Mumbai, providing capital for growth and access to international expertise.

War Heroes: Supplying the Armed Forces (World War II)

During World War II, the government of British India needed a continuous supply of biscuits for British soldiers. Britannia rose to the challenge spectacularly. The Britannia Biscuit Company supplied "service biscuits" to the British Army for several years, at times devoting up to 95% of its production capacity to meet the needs of the armed forces.

Biscuits were in high demand during World War II, which gave a tremendous boost to the company's sales. The government's trust in Britannia during this tragic period cemented the brand's reputation for reliability and quality. This wartime relationship established Britannia as an essential supplier capable of meeting large-scale government contracts.

Post-War Expansion: New Facilities (1952-1965)

After the war, Britannia continued expanding infrastructure. In 1952, the company moved its Kolkata factory from Dum Dum to Taratola Road. In 1965, Britannia opened a new bread bakery in Delhi, demonstrating their commitment to product diversification beyond biscuits. The company was evolving from a biscuit specialist into a broader bakery products manufacturer.

Golden Jubilee and Iconic Product Launch (1968-1976)

BBCo celebrated its golden jubilee in 1968, marking 50 years since formal incorporation. In 1975, Britannia Biscuit Company took over biscuit distribution responsibilities from another company named Parry's, consolidating its market position.

In 1976, Britannia introduced bread in Calcutta and Chennai, expanding its geographic reach and product portfolio. The company was steadily building a pan-India presence.

The Transformation: Becoming Indian (1978-1979)

Two pivotal years redefined Britannia's identity. In 1978, Britannia came out with its public issue. The Indian shareholding crossed 60%, which firmly established Britannia as an Indian company despite its British origins. This was a watershed moment—the company that began as a colonial enterprise was now majority Indian-owned.

In 1979, the company redefined itself by changing its name from Britannia Biscuit Company Limited to Britannia Industries Limited. The new name reflected both its expanded product range and its evolution into a modern industrial enterprise.

Foreign Investment and Growth (1982-1983)

In 1982, the American company Nabisco Brands, Inc. acquired the parent of Peek Freans (which had been acquired by Associated Biscuits International), becoming a major foreign shareholder. In 1983, sales of Britannia Industries Limited crossed ₹100 crore—a significant milestone demonstrating sustained growth.

Platinum Jubilee and the Tiger Launch (1992-1993)

In 1992, Britannia Industries Limited celebrated its platinum jubilee, marking 100 years since its 1892 founding. The centenary was commemorated with significant fanfare, recognizing a full century of operations.

In 1993, Britannia launched "Britannia Tiger"—a biscuit made especially for children to enjoy a tasty and healthy snack. This product would become one of Britannia's most successful brands. In 2006, Tiger, the mass market brand, realized $150.75 million in sales, including exports to the U.S. and Australia—representing 20% of Britannia's revenue that year.

The Corporate Battle: Wadia vs. Pillai (1993)

1993 also witnessed the most dramatic corporate battle in Britannia's history. Kerala businessman Rajan Pillai had secured control of the group in the late 1980s, becoming known in India as the 'Biscuit Raja' (Biscuit King). His flamboyant management style and aggressive expansion had made him a celebrity businessman.

However, in 1993, textile tycoon Nusli Wadia of Bombay Dyeing took control of the company from Britannia's then-chairman Rajan Pillai, with the help of French food giant Danone. The Wadia Group acquired a stake in Associated Biscuits International (ABIL), UK, and became equal partners with Danone in Britannia Industries Limited. This transition was acrimonious, with many twists in the corporate saga.

The Danone Partnership and Its End (1993-2009)

The relationship between Wadia and Danone remained uneasy throughout their partnership. The Wadia Group claimed in 2007 that Danone had registered the Tiger brand in other countries without its consent—a source of significant friction. Wadia also stalled Danone's attempt to set up an independent business venture in India.

Finally, in 2009, the Wadia Group became the largest shareholder in BIL after acquiring the 25% stake owned by Group Danone. The French company exited, selling its entire holding to Wadia. Britannia was now firmly under Indian control through the Wadia Group headed by Nusli Wadia.

Product Innovation and Market Leadership (2000s-2010s)

Britannia continued product innovation throughout this period. In 2006, Milk Bikis was re-launched as a product fortified with calcium, iodine, iron, and four other "smart nutrients" (Vitamins B1, B6, B12, and D). The company marketed that four biscuits provided equivalent energy to a glass of milk, appealing to health-conscious consumers.

In 2013, Britannia opened a special innovation center in Bidadi where they developed new biscuit ideas and improved manufacturing processes. In 2019, "Britannia Milk Bikis Milk Cream" was introduced—a creamy biscuit adding variety to the popular range.

Expanding Beyond Biscuits: Dairy, Cheese, Drinks (2018-2025)

In December 2018, Britannia launched Treat Crème Wafers, entering a new category. In August 2022, the company expanded into western snacking with Treat Croissant. Also in 2022, Britannia entered the drinks business, with expected revenues of around ₹200 crore by year-end.

In December 2022, Britannia entered a joint venture with Bel SA of France through Britannia Dairy Private Limited (BDPL) to develop, manufacture, and sell cheese products. Under the joint venture, Bel SA acquired a 49% stake in BDPL for ₹262 crore and infused an additional ₹215 crore. The cheese business was expected to see revenues of over ₹250 crore, while the dairy business could reach around ₹700 crore.

International Expansion: Kenya (October 2022)

In October 2022, Britannia acquired a controlling stake in Kenya's Kenafric Biscuits Limited. This strategic African investment allowed Britannia to cater to East African consumers and expand its global footprint beyond exports to establishing manufacturing presence.

Leadership Evolution: Varun Berry and Beyond (2013-2025)

In September 2022, Varun Berry was appointed Executive Vice-Chairman and Managing Director of Britannia Industries Limited, while Ranjeet Kohli was appointed Executive Director and CEO. Berry had been with the company since 2013, guiding it through consistent growth and market expansion.

However, in March 2025, Ranjeet Kohli resigned as CEO. Shortly after, in May 2025, Varun Berry was elevated to Chief Executive Officer in addition to his existing roles, consolidating strategic oversight under his leadership. Berry brought nearly forty years of experience in FMCG, having previously held senior roles at Hindustan Unilever and PepsiCo.

Current Status: Market Leader and Financial Powerhouse (2024-2025)

As of 2025, Britannia stands as one of India's leading food companies. For financial year 2024-25, Britannia reported revenue of ₹16,859 crore and net profit of ₹2,130 crore. More recent data shows revenue reaching ₹17,943 billion (approximately ₹17,943 crore or ₹179.43 billion) with continued year-on-year growth.

Britannia has an estimated market share of 33% in the organized biscuits market in India. As of 2023, about 80% of Britannia's annual revenue comes from biscuits. The company's factories have an annual capacity of 433,000 tonnes. Britannia operates through multiple categories: biscuits (75% of revenue), bread, cakes, rusks, and dairy products including cheese, beverages, milk, and yogurt.

The company has a strong distribution network covering over 5-6 million retail outlets across India. Britannia exports products to over 80 countries globally, including Gulf Cooperation Council Countries (GCC), African countries, and American countries. The company operates 25 factories and employs thousands across India.

The Brand Portfolio: Icons Across Categories

Britannia's biscuit brands have become household names: MarieGold, Tiger, NutriChoice, Good Day, 50-50, Treat, Pure Magic, Milk Bikis, Bourbon, Nice Time, Jim Jam, and Little Hearts. Each brand targets specific consumer segments—from value-conscious buyers to health-focused consumers to children seeking treats.

The company is listed among India's most trusted, valuable, and popular brands in various prestigious surveys. Britannia is the fifth largest FMCG company in India and ranks among the top 10 FMCG companies nationally.

What Made Britannia Endure for 132 Years

Quality Consistency: From 1892 to 2025, maintaining quality standards that earned government trust during wartime and consumer loyalty across generations.

Strategic Partnerships: Leveraging Peek Frean's expertise, Danone's resources, and Bel SA's cheese technology for capability enhancement.

Product Innovation: Continuously launching new variants, flavors, and formats while maintaining core products.

Distribution Excellence: Building one of India's most extensive retail networks reaching millions of outlets.

Adaptability: Evolving from colonial biscuit supplier to Indian bakery giant to diversified foods company.

Health Focus: Positioning products as nutritious, not just tasty—fortifying biscuits with vitamins and minerals.

Market Segmentation: Offering products across price points and consumer segments from mass-market Tiger to premium NutriChoice.

Manufacturing Scale: Operating 25 factories with 433,000-tonne annual capacity ensures cost advantages.

The Legacy: 132 Years and Counting

From a ₹295 investment in a Kolkata house to a ₹17,000+ crore food giant, Britannia's journey mirrors India's own transformation—from colony to independent nation to emerging economic power. The brand that once served British officers now nourishes millions of Indian families daily.

Every time someone bites into a Good Day cookie, enjoys Tiger biscuits with chai, or makes a sandwich with Britannia bread, they're experiencing 132 years of heritage, quality, and innovation. The little girl on the Britannia logo represents not just a brand mascot but generations of Indian childhoods, tea-time rituals, and family moments.

Because some legacies aren't just inherited—they're baked fresh every day for 132 years.