Britannia Industries appoints Rakshit Hargave as new CEO 

INDIA – Britannia Industries Ltd has appointed Rakshit Hargave as its new chief executive officer and executive director for a five-year term beginning 15 December 2025.  

His appointment follows the departure of former CEO Rajneet Singh Kohli in March, after which Chairman and Managing Director Varun Berry took on the role in an interim capacity. 

Ahead of Hargave’s formal assumption of office, the company named insider Natarajan Venkataraman as interim CEO.  

Hargave joins Britannia from Birla Opus, the paints division of Grasim Industries, where he had served as CEO since November 2021. His previous leadership experience includes senior roles at Beiersdorf, Lakmé Lever and Hindustan Unilever. 

At Birla Opus, Hargave was credited with contributing significantly to the business’s early development. His efforts included building a strong leadership team, establishing six integrated manufacturing plants, and expanding nationwide distribution and supply chain operations.  

Britannia said his appointment is expected to strengthen the company’s executive leadership as it continues to operate in a competitive market while pursuing growth, innovation and rural expansion. 

The maker of Jim Jam and NutriChoice reported net sales of Rs47.52 billion (US$535.6m) for the second quarter, marking a year-on-year increase of 4.1%. Berry said the revenue performance reflected steady growth supported by stable commodity prices and continued cost-optimisation initiatives across the value chain. 

Operating profit for the quarter rose 22.9% to Rs8.69 billion, while net profit attributable to owners reached Rs 6.54 billion (US$73.81M), an increase of 23.1% over the previous year.  

Berry noted that recent GST rate changes announced by the government were expected to improve consumer demand, although transitional supply chain adjustments had a temporary effect on business late in the quarter. 

For the fiscal year ending 31 March, consolidated revenue from operations grew 7% to Rs 179.42 billion (US$2.03B). Total comprehensive income rose to Rs 21.84 billion (US$246.47M), while net profit increased to Rs 21.77 billion (US$245.7M) from Rs 21.34 billion (US$240.83M) in the prior year. Basic and diluted earnings per share for the year climbed 1.8% to Rs 90.45. 

Britannia said the leadership transition and financial performance position the company for continued expansion in the upcoming quarters. 

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