ITC Ltd share Price Today

ITC is biggest cigarettes & second largest FMCG company in India with ~80% of market share in cigarettes & presence in staples, biscuits, noodles, snacks, chocolate, dairy products & personal care products. The company is also present in paperboard, printing & packaging business, agri & hotels businesses

The company has more than 200 manufacturing facilities in India. It has a distribution reach of over 6 million retail outlets across various trade channels & strong 25 brands across various categories

ITC reported robust cigarette volume growth of ~12%.

• Sales were up 6.6% YoY led by strong growth in cigarettes & FMCG sales
• EBITDA was at ₹ 6209.4 crore, up 18.9% YoY, with margins at 36.1%
• Consequent PAT was at ₹ 5086.9 crore (up 21.4% YoY)

Cigarettes-Tobacco Products company ITC announced Q2FY24 results:

• Financial Highlights:
  • Gross Revenue reached Rs 17,549 crores, with a 3.4% YoY growth (excluding Wheat & Rice exports, up 8.9%).
  • PBT was reported at Rs 6,514 crores, a 9.7% YoY increase.
  • PAT showed a 10.3% YoY growth, reaching Rs 4,927 crores.
  • Earnings Per Share for the quarter stood at Rs 3.96 (compared to Rs 3.61 in the previous year).

• Segment-Wise Performance:

  • FMCG – Others:

    • Segment Revenue experienced an 8.3% YoY growth on a high base.
    • The Segment EBITDA margin expanded by 150 basis points (bps) YoY to 11.0%.
    • Segment PBIT grew by 36.8% YoY.
    • A 2-year Compound Annual Growth Rate (CAGR) for this segment was reported at 14.5%.

  • Cigarettes Segment:

    • Net Segment Revenue was up 8.5% YoY.
    • Segment PBIT grew by 8.0% YoY.
    • The segment continued to recover volumes from illicit trade, mainly due to deterrent actions by enforcement agencies.

  • Hotels Business:

    • Segment Revenue and PBIT grew by 21% and 50% YoY, respectively, despite a high base.
    • The Segment EBITDA margin increased by 170 bps YoY to 30.7%.
    • ITC Hotels had the honor of catering to prestigious events, including the G20 summit and the visit of the President of the United States.

  • Agri-Business:

    • Segment Revenue (excluding Wheat & Rice exports) saw substantial YoY growth of 26.4%.
    • Segment PBIT increased by 3.3% YoY.
    • The company actively engaged with farmers to build resilience against extreme weather events through the Climate Smart Agriculture program.
    • Strong customer relationships and agile execution in Leaf Tobacco and Value Added Agri products continued to drive growth.

  • Paperboards, Paper, and Packaging Segment:

    • The segment faced challenges due to low priced Chinese supplies, muted demand in export markets, and a high-base effect.
    • Sharp drop in net sales realization and global pulp prices were observed during the quarter.
    • The project for augmentation of in-house chemical pulp capacity by approximately 20% was completed during the quarter.

Result PDF