Britannia may gain from GST cut on biscuits and packaged foods, with rates reduced from 12-18% to 5%, said SEBI RA Varunkumar Patel. The move could spur demand in rural and semi-urban markets, lift sales of ₹5-10 packs, and improve margins if savings aren't fully passed on. Patel expects Britannia's strong distribution to help it outpace regional and unorganised rivals.