Britannia already makes a range of white and fruit bread, and the brown bread venture will be the first by a major national outfit.Alagh said that the dairy business will also be ramped up to generate at least 20 per cent of total turnover by the end of the current fiscal, against 10 per cent now. New flavours of in the flavoured milk range will be launched by September.Alagh said that the entire dairy range will be put under an umbrella brand, Milkman, to boost its image.Asked to comment on Britannia's diversification plans, Alagh said: "Its out of the question for the time being. We had hoped to project Britannia as an "am to pm" brand and we have been successful in doing so.

At the moment, we are too engrossed in this to think of anything else."Chairman Nusli Wadia, replying to shareholders' questions about the company's huge spending on advertising, pointed out that the total adspend is only 7 per cent of total expenditure against 10 per cent by similar companies.

In the year ended March 31, 2000, Britannia spent Rs 77 crore on advertising against Rs 58 crore in the previous year. During 1999-2000, the company reported a net profit of Rs 51.02 crore on a turnover of Rs 1185.7 crore, against a net of Rs 39.55 crore and a turnover of Rs 1043.2 crore in the previous year. Shareholders adopted the company's dividend of 45 per cent (or Rs 4.50 per equity share) amounting to a total payout of Rs 12.5 crore.