The company's turnaround strategy under its new management continues to pay rich dividends. While it has considerably narrowed the gap with market leader Parle, Britannia has been dexterous in fending off competition from FMCG behemoth ITC, especially in the premium cream biscuit category. The biscuit maker is now gearing up for a bigger play in the dairy segment with a possible capital outlay of Rs 300 crore.