Britannia plans capex of Rs 700 cr; bullish on rural demand due to Covid-19

FMCG major Britannia Industries has planned a capital expenditure of around Rs 700 crore over the next two-and-half years for its new facilities and is bullish on the rural demand during the Covid-19 crisis, a company official said on Monday.

The rural demand remained stable during the coronavirus outbreak and the company will focus more on its core products, its managing director Varun Berry said.

"The company is looking at some capex (capital expenditure) of more than Rs 700 crore over the next two-and- half years," he said at a virtual press conference.

Britannia plans to set up new manufacturing