Download - 75043708 Britannia Industries Ltd Section A
BRITANNIA INDUSTRIES LTD.
1892 - A humble genesis was made to manufacture biscuits in a small house in Central Calcutta, with an investment of Rs.295.
1897 - The business was acquired by Gupta brothers who moved operations to Dum Dum in Calcutta under the name of V.S. Brothers.
1918 - Mr C. H. Holmes, an English business man, partnered with Gupta Brothers. Britannia was incorporated on the 21st of March 1918 as a public limited company under the Indian Companies Act VII of 1913.
1921 - Britannia obtained priority certi cate to import new machinery. It became the rst company east of the Suez Canal to use gas ovens.
1924 - New factories were established in Mumbai and Calcutta. Britannia became a subsidiary of Peek, Frean & Company Limited, a leading biscuit company in UK.
1935-45 - During World War II Britannia diverted 95% of its production for manufacturing ‘service biscuits’ for soldiers.
1954 - High quality sliced and packaged bread was pioneered and launched in Delhi.
1979 - On 3rd October, the Company was re-christened from Britannia Biscuit Company Limited to Britannia Industries Limited.
1983 - Sales crossed the Rs. 100 crore milestone.
1992 - Britannia celebrated its Platinum jubilee and launched `Little Hearts’.
1993 - The Wadia Group acquired a stake in ABI Holdings Limited (ABIH), United Kingdom and became an equal partner with Groupe DANONE in BIL. Brand ‘50-50’ was launched.
1997 - ‘Eat Healthy, Think Better’ became the new corporate mantra. Britannia entered the dairy business. ‘Tiger’ biscuits were launched. ‘Jim Jam’ and ‘Chekkers’ were launched.
2000 - Forbes Global ranked Britannia among the Top 200 small companies. Britannia was ranked No.1 food brand of the country. Britannia Lagaan Match was India’s most successful promotional activity of the year.
2002 - Britannia formed a joint venture with Fonterra, the world’s second largest dairy company and Britannia New Zealand Foods Private Limited was born.
2005 - Brand Tiger’s re-birth was marked by the slogan ‘Swasth Khao, Tiger Ban Jao’, which became a popular chant. Britannia launched ‘Greetings’ a range of assorted gift packs. Britannia ‘50-50 Pepper Chakkar’ was launched.
2007 - In a survey conducted by AC Nielsen ORG-Marg and published in the Economic Times, Britannia was rated the No.1 MOST TRUSTED FOOD BRAND. It also ranked as No.1 Brand in Metros across all categories.
2007 - Britannia Industries formed a joint venture with the Khimji Ramdas Group and acquired a 70 per cent bene cial stake in the Dubai-based Strategic Foods International Co. LLC and 65.4% in the Omanbased Al Sallan Food Industries Co. SAOG.
2008 - Britannia launched Iron forti ed ‘Tiger’ biscuits, ‘Good Day Classic Cookies’, Low Fat Dahi and renovated ‘MarieGold’.
BOARD OF DIRECTORS
CHAIRMAN:
Nusli N Wadia
MANAGING DIRECTOR:
Vinita Bali
DIRECTORS:
Keki Dadiseth
Avijit Deb
Stephan Gerlich
A K Hirjee
Philippe - Loic Jacob
Nimesh N Kampani
S S Kelkar
Vijay L Kelkar
Pratap Khanna
Ness N Wadia
Jeh N Wadia
Nasser Munjee
Francois-Xavier Roger
Field Marshal Sam Manekshaw M C - Director Emeritus
CHIEF FINANCIAL OFFICER:
Durgesh Mehta
COMPANY SECRETARY:
V Madan
AUDITORS:
Lovelock & Lewes
Chartered Accountants
5th Floor, Tower D, The Millenia
1 & 2 Murphy Road, Ulsoor
Bangalore - 560 008.
BANKERS:
State Bank of India
Standard Chartered Bank
ABN Amro Bank N.V.
Citibank N.A.
The Hongkong & Shanghai Banking Corporation
Limited HDFC Bank Limited
ICICI Bank Limited
Indian Bank
Bank of America
Deutsche Bank
SECTION –A
COMPANY PROFILE COMPANY BACKGROUND & PROFILE
The story of one of India's favourite brands reads almost like a fairy tale. Once upon a time, in 1892 to be
precise, a biscuit company was started in a nondescript house in Calcutta (now Kolkata) with an initial
investment of Rs. 295. The company we all know as Britannia today.
The beginnings might have been humble-the dreams were anything but. By 1910, with the advent of
electricity, Britannia mechanised its operations, and in 1921, it became the first company east of the Suez
Canal to use imported gas ovens. Britannia’s business was flourishing. But, more importantly, Britannia
was acquiring a reputation for quality and value. As a result, during the tragic World War II, the
Government reposed its trust in Britannia by
contracting it to supply large quantities of "service biscuits" to the armed forces.
As time moved on, the biscuit market continued to grow and Britannia grew along with it. In 1975, the
Britannia Biscuit Company took over the distribution of biscuits from Parry's who till now distributed
Britannia biscuits in India. In the subsequent public issue of 1978, Indian shareholding crossed 60%,
firmly establishing the Indianness of the firm. The following year, Britannia Biscuit Company was
re-christened Britannia Industries Limited (BIL). Four years later in 1983, it crossed the Rs. 100 crores
revenue mark. On the operations front, the company was making equally dynamic strides. In 1992, it
celebrated its Platinum Jubilee. In 1997, the company unveiled its new corporate identity - "Eat Healthy,
Think Better" - and made its first foray into the dairy products market. In 1999, the "Britannia Khao,
World Cup Jao" promotion further fortified the affinity consumers had with 'Brand Britannia'.
Britannia strode into the 21st Century as one of India's biggest brands and the pre-eminent food brand
of the country. It was equally recognised for its innovative approach to products and marketing: the
Lagaan Match was voted India's most successful promotional activity of the year 2001 while the
delicious Britannia 50-50 Maska-Chaska became India's most successful product launch. In 2002,
Britannia's New Business Division formed a joint venture with Fonterra, the world's second largest
Dairy Company, and Britannia New Zealand Foods Pvt. Ltd. was born. In recognition of its vision and
accelerating graph, Forbes Global rated Britannia 'One amongst the Top 200 Small Companies of the
World', and The Economic Times pegged Britannia India's 2nd Most Trusted Brand.
Today, more than a century after those tentative first steps, Britannia's fairy tale is not only going strong but
blazing new standards, and that miniscule initial investment has grown by leaps and bounds to crores of
rupees in wealth for Britannia's shareholders. The company's offerings are spread across the spectrum with
products ranging from the healthy and economical Tiger biscuits to the more lifestyle-oriented Milkman
Cheese. Having succeeded in garnering the trust of almost one-third of India's one billion population and
a strong management at the helm means Britannia will continue to dream big on its path of innovation and
quality. And millions of consumers will savour the results, happily ever after.
For the year ended 31st March 2010, the Company achieved a sales growth of 17.5% on an expanded base
arising from 27.5% growth in the previous year. Net Profit of the Company increased 77.5 % to Rs 1,910 Mn
compared with Rs 1,076 Mn in 2008-09. Operating Margin increased by 307 basis points to 7.5%.
The Company witnessed all round growth in key categories with Biscuits recording sales of Rs. 23,299
Mn. Bread, Cake and Rusk business crossed the Rs. 2,700 Mn mark during 2009-10. This business has
doubled in two years.
In an intensely competitive biscuit environment, all ‘Power Brands’ of the Company recorded double digit
growth, with Tiger and Good Day growing in excess of 20%. The Company’s innovation forays have
successfully addressed new benefit clusters and NutriChoice Digestive has claimed its position in the
health and vitality space. The Company continues to maintain its leadership edge in 6 out of 7 key
product segments, the only exception being Glucose.
The Company introduced several new and renovated offerings in Tiger, Good Day, Treat and MarieGold.
The health and nutrition platform was buttressed by Tiger Banana with ‘iron-zor’, fortified Milk Bikis,
renovated MarieGold and Nutrichoice Digestive. To tap the more indulgent consumers, your Company
launched Good Day.
Classic Cookies, while continuing to roll out individual consumption packs at the highly affordable Rs. 5
price point. The Bread, Cake and Rusk portfolio was strengthened with the successful relaunch of Breads,
fortified with vitamins and minerals, positioning them firmly as the healthy start to your day. This
innovation combined with relevant consumer activation in key markets has seen a 30%+ growth in the Bread,
Cake and Rusk business.
As a Corporate, Britannia worked for the benefit of all stakeholders - shareholders, consumers, dealers ,
suppliers, bankers and employees. It has established an excellent track record in terms of its financial
performance and dividends distributed to its shareholders. This has been adequately demonstrated with
the Company's topline growing from Rs 10,301 Mn in 2001 to Rs 26,176 Mn in 2010, a growth of 154%
over the last 10 years. The net profit grew even more significantly at 382% from Rs 396 Mn in 1998-99 to
Rs 1,910 Mn in 2009-10, giving a CAGR of 19.1%. As at 31st March 2008, the issued and paid up capital
of Britannia amounts to 23, 890,163 equity shares having a nominal value of Rs 10 each. The
shareholder base is about 25,300 in number
COMPANY HISTORY
1918
The Company was Incorporated on 21st March, as a public limited company under the Indian
Companies Act, VII of 1913. The Company Manufacture bakery and soyabean products, export of
cashew Kernels marine products, general merchandise items and computer software.
1921
The Company obtained a priority of Certificate and imported new machinery thereby becoming the first
biscuit company in India to install and run a gas oven plant.
1924
A new factory was established at Kasara Pier Road in Mumbai. In the same year, the Company
became a subsidiary of Peek, Frean & Co. Ltd., U.K., a leading biscuit manufacturing company,
and further strengthened its position by expanding the factories at Calcutta and Mumbai.
1939-45
A large part of the Company's production was diverted to war effort on account of World War II and
at times as much as 95% of the total capacity was booked for the production of Service Biscuit.
1951
19,779 Equity shares issued to acquire the Delhi Biscuit Co. Ltd. In August 1,53,234 Bonus equity
shares issued in the proportion 1:1.
1952
The Calcutta Factory was shifted from Dum Dum to spacious grounds at Taratola Road in the
suburbs of Calcutta. During the same year automatic plants were installed there and later in
Mumbai in 1954.
1954
The development of high quality sliced and wrapped bread in India was pioneered by the Company
and was first manufactured at Delhi. 1,53,234 Bonus equity shares issued in the proportion 1:2.
1961
Manufacture of bread was started in Mumbai and a new bread bakery was set up at Delhi in 1965.
2,29,851 Bonus equity shares issued in the proportion 1:2.
1966
In May 1966, 3,06,468 Bonus equity shares issued in the proportion 4:9.
1968
On 14th May, 6,64,014 Bonus equity shares issued in the proportion 2:3.
1970
9,96,021 Bonus equity shares issued in the proportion 3:5.
1976
Britannia bread was introduced in Calcutta and Chennai.18,59,239 Bonus equity shares issued in
the proportion 7:10 in April.
1978
After the issue of shares to the Indian public, the non-resident holding in the Company was
reduced to less than 40%.18,00,000 Equity shares issued at a premium of Rs 5 per share 4,06,286
shares offered as rights to resident Indian shareholders in proportion 1:5. 43,714 shares offered to the
Company's employees; 1,00,000 shares to UTI and 50,000 shares each to LIC and GIC were
reserved for allotment and 11,50,000 shares offered to the public during January/February.
1979
With effect from 3rd October, the name of the Company was changed from the Britannia Biscuit Co.,
Ltd., to Britannia Industries Ltd.
1980
The Company signed a 10 year technical collaboration agreement with Nebico Pvt. Ltd., Nepal, for
the supply of know-how relating to manufacturing, packaging and marketing of biscuits and selection
of plant and machinery.
1982
25,26,118 Bonus equity shares issued in proportion 2:5.
1986
The turnover increased by 19.4% over the the previous year to Rs 192.15 crores. Sales of biscuits,
in terms of volume, registered a satisfacotry growth. Good Day, a new biscuit launched during the
year met with good market response. Production of bread at Delhi unit was adversely affected due to
launched pure refined cooking oil under the brand name of Vital. 35,36,565 Bonus shares issued in
proportion 2:5 during July 1987.
1987
In (16 months), the total sales turnover increased on an annualized basis by 38.7% over the previous
year. Increase in sales of bakery and soya products divisions and higher cashew exports helped to
realise higher sales. With the introduction of some more brands during the year, the total biscuit
brands of the bakery division reached
The soya products division introduced a range of extruded products under the brand name VITAL
FEAST.
1989
The Company launched new brand of biscuit, namely, `CIRCUT'. Another brand PURE MAGIC
was extended nationally and posta badam was added to GOOD DAY range of biscuits. Bread
production and affected for some time at Delhi factory due to industrial unrest. 61,88,989 Bonus shares
issued in proportion 1:2.
1990
Two new brands of biscuits,Elaichi Creamand Petit Beurre were launched. Also, a new cashew
badam variant of the brand Milk Bikis and brand extension of Pure magic biscuit Vanilla cream
were launched. Fruit bread was launched in Delhi and was well received.
1991
The Company launched two new speciality brands viz., Britannia milk bread and Britannia brown
bread in Delhi and extended nationally its main brands Petit Beurre and elaichi cream.On 17th
August, the Company handed over to SM Dychem Ltd, its soya unit at Vidisha, MP.The Company
proposed to invest in the equity capital of Britco Company Pvt. Ltd., a joint venture with
JMRPCO Ltd., Hongkong, for manufacture of beverage bases and essence for Coca Cola, Fanta
& Sprite and to export processed snack foods.
1992
The Company launched a new brand of biscuit, namely `Little Hearts' which carved a niche in the
market.
1993
The Company launched new brand of biscuit, namely, `Fifty-Fifty'.Bread market remained
depressed. To revive the market, the Company launched a speciality brand viz. Premium Bake' in both
Delhi and Mumbai. During the year, the company has started exporting Basmati Rice under the name
`Britannia Indian Pearl'.
1994
During the year, the bakery division launched `Bakers Choice' a sweet biscuit and Thinlite' a light
semi-sweet biscuit aimed at fitness concious consumers.
1995
Under the `Pure Magics' Umbrella, the company launched a new sandwich cream biscuit with two-
in-one flavour viz. double cream and this was well received in the market. In the cake market, under
the premium segment, the company launched with Groupe Danone's technological input a Swissroll
Cake Mini Roule which was also met with good response.
1996
Mariegold biscuits registered quantum growth in volumes and milk bikis milk cream launched during
the year was well received. Despite general slow down in the economy the company's profits
improved.
1997
The Biscuit industry has been dereserved which would not only remove restriction on increasing
capacity but would also provide opportunities of growth through new products and efficient
production systems. The Company undertook to diversify into cheese and dairy whitner. The Company
launched `Tiger' range of biscuits for mass market category, `Jim-Jam' and Chekkers' in the premium
segment. The Company also launched Butter in Delhi during the year.
Britannia Industries (BIL) is one of the largest bakery in the private sector and a household name in food
products. Britannia Industries Ltd (BIL) will shortly enter the cheese and milk products market with an
alliance proposed between itself and the Mumbai-based Dynamix Dairy Ltd.
Britannia Industries Ltd is all set to launch a new corporate identity and a total revamp of its product
portfolio, with strategic inputs from an international strategic design and brand repositioning company -
Shining Strategic Design.
1998
Food major Britannia Industries Ltd (BIL) has signed a wage agreement with the
Maharashtra General Kamgar Union (MGKU), providing an average wage increase
for 1,000 workers employed in the biscuit manufacturing unit at Reay Road, Mumbai.
The company has launched Half/Half, a soft cake filled with cream in two variants,
chocolate-vanilla and vanilla-orange. Half/Half comes in a twin-cake pack (Rs.6) and
a tray pack containing five cakes. Britannia Industries Ltd has launched a festival
offer for Britannia Dairy Whitener in Kerala.
A India rating has been signed to the Rs.100-crore secured nonconvertible debenture issue from
Britannia Industries Limited (BIL).
1999
Britannia Industries Ltd has rolled out its flavoured milk brand `Zip-Sip' in tetrapaks. Zip-Sip has
been launched in Mumbai and some markets in the South. Britannia Industries, launching the country's
first branded flavoured milk is another step towards its goal of becoming a dairy-products giant. In a
move meant to sharply increase its India-profile, knowledge major' Encyclopaedia Britannica Inc
plans to come out - for the first time - with India and south Asia-specific volumes targeted at school
children as well as institutions and the general `knowledge-seeker'.
2000
Britinnia Industries has launched consumer promotion scheme Britannia Khao, Cricketer Ban Jao'
on May 1st. Britannia Industries, in its second coming in the Indian dairy market under the
Milkman' brand, is introducing a range of products many in desi flavours to woo the Indian consumer.
The Company has launched Vita Mariegold, a semi-sweet biscuit which reportedly has 10 essential
vitamins, milk protein and 58 cereals. Britannia's Milk Bikis Funland biscuits an innovative extension
of the Milk Bikis brand.
The Industry is set to start bread-manufacturing factories in Kochi, Hyderabad and Chennai to tap
the region's market potential. The Company has become the first company to take its products to
the Net in the form of a video file. Britannia Industries has launched Britannia Milkman Butter, a
product under the Milkman brand. The Company has appointed Tata Energy Research Institute (Teri)
for a power audit.
FITCH rating India Pvt. Ltd has reaffirmed the Ind AAA rating assigned to the Rs 1000 million non
convertible debenture program of Britannia Industries Ltd. The Company has launched two new
dairy products Milkman Cold Coffee and Milkman Sweet lassi. Britannia Industries Ltd. has
introduced a new range of traditional namkeens called Britannia Snaz in Mumbai.
2001
Britannia Industries has launched Britannia Milkman Milk in Delhi.- Biscuits major Britannia
Industries will fund its in-principle agreement to acquire 49 per cent of Kwality Biscuits through
internal accruals.
2002
Britannia Industries Ltd announced on March 26, 2002 that it has entered into a joint venture with the
Fonterra Cooperative Group, New Zealand's biggest company and one of the leading diary co-
operative groups in the world. Britannia's new COO is Nikhil Sen.
2003
Board of Directors of Britannia Industries Ltd has passed a resolution to terminate the employment of
Mr S K Alagh as Managing Director of the company with immediate effect.
The management of Britannia Industries has roped in John Miller, a Danone representative, as
additional director on its board. Britannia New Zealand Foods, a joint venture of Britannia Industries
and Fonterra Co-operative group of New Zealand has launched Britannia MilkMan fresh milk.
Britannia's Non-convertible Debentures have been rated AAA by Fitch Rating India as Stable
Outlook Britannia Industries has appointed Mr. Nikhil Sen, Chief Operating Officer as the manager.
2004
Britannia Industries Ltd has informed that pursuant to the approval of the shareholders of the
Company at the AGM held on August 08, 2003 and the subsequent application to the Cochin Stock
Exchange Ltd., the said stock exchange has delisted the securities of the Company with effect from
November 15, 2003.
Britannia Industries Ltd reviews marketing alliance with the Kolkata-based Thacker Dairy Products.
2005
Britannia New Zealand launches health drink for adult
2006
Britannia Industries Ltd has forged a strategic alliance with CCD Daily Bread Pvt Ltd a Bangalore
based Company engaged in manufacturing and retailing of premium breads, cakes and high end
ready to eat foods and snacks.
Britannia Industries Ltd has appointed Mr. Stephan Gerlich as a Director.
Britannia Industries Ltd has informed that Mr. Durgesh Mehta has joined the Company as the
Chief Financial Officer (CFO) with effect from November 16, 2006.
Tiger, launched in 1997, became the largest brand in Britannia's portfolio in the very first year of its
launch and continues to be so till today. Tiger has grown from strength to strength and the re-
invigoration in June 2005 and more recently, in Apr 2008 has further helped bolster its growth in
the highly competitive glucose biscuit category Tiger is a Glucose biscuit, which comes with the
added goodness of wheat and milk. It is for modern mothers who play an enabling role for their
children to compete in today's world and thus want the best. Now Tiger Glucose has been fortified
with "Iron Zor" with an attempt towards addressing the Iron Deficiency crisis the children Of India
face.
Over the years, Tiger has become the mass-market face of Britannia symbolising fun and
energy in both urban and rural India, and transcending glucose biscuits.
Tiger Coconut: Delicious Coconut Flavoured Energy Biscuits, launched in 2001.
Tiger Cream: Was introduced in 2002 at just Rs 5 per pack. Tiger Cream is now
available in Orange, Elaichi, Chocolate, Pineapple, Strawberry and Butterscotch
flavours, and promises to bring more fun and more energy to children across the
country.
Chota Tiger: Is an extension of brand Tiger launched nationally in May, 2007. It is mini sized
poppable glucose biscuit with coloured sugar sprinkling. It comes in two variants: Milk Sparkies and
Choco Sparkies.
Tiger Banana : Britannia is committed to help secure every child's right to Growth & Development
through good food every day. Purposefully taking forward the credo of 'Eat Healthy, Think Better ',
we have launched a new variant under our power brand TIGER - TIGER BANANA - power packed
with IRON ZOR & and with the delightful taste of banana.
Britannia Good Day was launched in 1986 in two delectable avatars - Good Day Cashew and Butter.
Over the years, new variants were introduced - Good Day Pista Badam in 1989, Good Day
Chocochips in 2000 and Good Day Choconut in 2004.
This rich biscuit enjoys a fan following of consumers across all ages, loyal to the brand promise of a
great taste evident from the visibly abundant ingredients. Good Day is amongst the fastest growing
brands in Britannia's portfolio and is today the market leader with almost 2/3 share of the market.
The brand is synonymous with everyday treats that infuse happiness into people's daily lives.
After two decades of magnificent success; it was time to give the nation yet another reason to have a
good day. Abundance, goodness, indulgence and now unrestrained joy - that is the message of this
new campaign.
The new TT ad is the uncontrollable expression of the ticket collector's happiness and joy that is
stimulated by consumption of the cookie, that spreads cheer amongst the people around him
creating an atmosphere of shared joy that's unorchestrated and straight from the heart. The
celebration was taken to the IPL as Good day cheered along with a million cricket fans in the
stadiums, each screaming and proclaiming "Ho gaya re Good Day". The dazzling brilliance of this
endeavour, the contagious rhythm needs to be lived and spread through the nation, making 'Iska toh
ho Gaya Re Good Day' a part of the common lingo and a way of life.
Good Day truly believes laughter and happiness are infectious, it transcends race, caste creed
unifying humanity in an inclusive emotion.
The brand perseveres to infuse cheer, hearten the nation and enliven lives. With its rightful place on
the front page of The Times of India, Good Day gifts the nation a priceless treasure, that of
spreading JOY!
With a brand name like 50-50, can the product be anything but fun? Launched in 1993, 50-50 belongs
to the family of crackers and is considered the "very very tasty tasty" snack. Britannia 50-50 is the
leader in its category with more than one-third of market share. The versatile and youthful brand
constantly aims to provide a novel and exciting taste experience to the consumer. As a result, in
2001, the delicious Maska Chaska was launched as a variant of the original brand and became an
instant success.
Kids may dislike drinking milk, but they love Britannia Milk Bikis! Milk Bikis has been trusted by
mothers as a source of growth energy of milk and their loyalty to the brand has made it an
integral part of their children's nutrition regimen In 1996, Milk Bikis launched a variant called
Milk Cream. These round biscuits come with smiley faces and are full of milk cream that makes
them very popular with children. Milk Cream also promoted the idea of 'eating milk' in a yummy
way, which makes mothers happy as well
To keep pace with the demands of the new generation and to bring milk nutrition to the masses in a
delightful form, Milk Bikis, went one step further in the last quarter of 2006 in providing not just
energy but ‘developmental fuel’ for children. With a unique and attractive honeycomb design and an
enhanced product experience, the new biscuit is now fortified with SMART NUTRIENTS - 4 vital
vitamins, iron and iodine, proven to aid mental and physical development in growing kids.
Britannia's oldest brand enjoys a heritage that spans the last 50 years - and going strong. In a market
swamped with me-too products and where even the name 'Marie' has become generic, Britannia
Marie Gold has maintained its stronghold. Today, the ever-popular Marie Gold is synonymous with
the 'Tea Time Biscuit'. Its taste, crispiness and lightness make it a must for every tea break. It is the
#1 brand in its category by a long shot.
SHAREHOLDING PATTERN OF THE COMPANY
No. of shareholders Total no. of shares No. of shares in demat form %
1 450 450 0- - - -1 300 - 0- - - -- - - -2 750 450 0
- - - -6 12173219 1392319 50.96- - - -- - - -
6 12173219 1392319 50.968 12173969 1392769 50.96
25 1680226 1679296 7.0320 15519 13295 0.06- - - -- - - -9 2639980 2639703 11.05
24 2777550 2777550 11.63- - - -- - - -
78 7113275 7109844 29.77
497 259334 237767 1.09
24706 3476728 2432135 14.55
36 862529 524870 3.617 4328 4328 0.02
25246 4602919 3199100 19.2725324 11716194 10308944 49.04
25332 23890163 11701713 100