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ITC

₹466 -5.3 | 1.1%

Market Cap ₹582941 Cr.

Stock P/E 28.1

P/B 7.7

Current Price ₹466

Book Value ₹ 60.2

Face Value 1

52W High ₹528.6

Dividend Yield 2.95%

52W Low ₹ 399.3

ITC Research see more...

Overview Inc. Year: 1910Industry: Cigarettes/Tobacco

ITC Limited is an primarily India-based holding enterprise. The Company operates through four segments: FMCG (fast shifting consumer items), Hotels, Paperboards, Paper and Packaging and Agri Business. The FMCG section consists of Cigarettes, cigars and Others, which includes branded packaged ingredients agencies (staples and meals; snacks; dairy and drinks; biscuits and desserts; candies, coffee, and confectionery); education and stationery products; personal care products; safety matches and agarbattis and garb. Its Hotels section consists of Hoteliering. Its Paperboards, Paper and Packaging phase includes Paperboards, Paper including Specialty Paper and Packaging along with Flexibles. Its Agri Business section consists of Agri commodities which include soya, spices, espresso, and leaf tobacco. Its Other section includes IT services and branded houses. Its manufacturers encompass Aashirvaad, Bingo!, Candyman, Fiama, Vivel, Classmate, Superia, Engage, Mangaldeep, Aim and Homelites.

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ITC Share Price

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Quarterly Price

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ITC Quarterly Results

#(Fig in Cr.) Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Net Sales 19831 18608 19021 19058 18639 19270 19485 19446 20030 22282
Other Income 321 455 595 610 722 665 657 684 695 616
Total Income 20152 19063 19616 19668 19362 19935 20141 20130 20724 22898
Total Expenditure 13754 12349 12316 12434 11969 12816 12981 12820 13281 15520
Operating Profit 6398 6714 7300 7234 7392 7119 7161 7310 7443 7378
Interest 9 13 9 12 10 10 14 13 11 16
Depreciation 438 462 447 461 442 453 459 461 499 520
Exceptional Income / Expenses 0 0 0 73 0 0 -6 -2 -3 -1
Profit Before Tax 5950 6239 6844 6833 6940 6656 6682 6834 6930 6840
Provision for Tax 1488 1568 1774 1608 1760 1700 1282 1647 1761 1794
Profit After Tax 4462 4670 5070 5225 5180 4956 5401 5187 5169 5046
Adjustments -72 -51 -63 -50 -75 -58 -65 -67 -78 -53
Profit After Adjustments 4390 4620 5007 5175 5105 4898 5335 5121 5092 4993
Adjusted Earnings Per Share 3.6 3.7 4 4.2 4.1 3.9 4.3 4.1 4.1 4

ITC Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 35317 38835 39192 42777 43449 48353 49404 49273 60668 70937 70881 81243
Other Income 971 1338 1536 1762 1837 2181 2601 2634 1892 1982 2784 2652
Total Income 36288 40173 40728 44538 45286 50533 52005 51907 62560 72919 73665 83893
Total Expenditure 22242 24692 24722 27316 26946 29927 30120 32258 40045 45239 44649 54602
Operating Profit 14046 15481 16006 17222 18340 20606 21885 19649 22515 27680 29016 29292
Interest 29 91 78 49 115 71 81 58 60 78 80 54
Depreciation 965 1028 1077 1153 1236 1397 1645 1646 1732 1809 1816 1939
Exceptional Income / Expenses 0 0 0 0 413 0 -132 0 0 73 -8 -12
Profit Before Tax 13052 14362 14859 16026 17409 19150 20035 17938 20740 25915 27140 27286
Provision for Tax 4061 4596 5358 5549 5916 6314 4442 4555 5237 6438 6389 6484
Profit After Tax 8991 9766 9501 10477 11493 12836 15593 13383 15503 19477 20751 20803
Adjustments -99 -102 -156 -188 -221 -244 -287 -222 -260 -285 -293 -263
Profit After Adjustments 8891 9663 9344 10289 11271 12592 15306 13161 15243 19192 20459 20541
Adjusted Earnings Per Share 7.5 8 7.7 8.5 9.2 10.3 12.5 10.7 12.4 15.4 16.4 16.5

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -0% 13% 8% 7%
Operating Profit CAGR 5% 14% 7% 8%
PAT CAGR 7% 16% 10% 9%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 3% 26% 14% 6%
ROE Average 29% 28% 27% 27%
ROCE Average 38% 37% 34% 38%

ITC Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 27237 31735 42680 46413 52510 59141 65273 60347 62456 69155 74507
Minority's Interest 203 225 261 295 334 343 377 347 366 384 383
Borrowings 76 61 27 18 12 8 6 6 5 3 2
Other Non-Current Liabilities 1446 1771 2026 2051 2135 2235 2094 2371 2206 2549 3172
Total Current Liabilities 11886 12160 6658 7121 9250 10012 9560 10690 12164 13739 13690
Total Liabilities 40848 45952 51651 55898 64241 71739 77311 73761 77196 85831 91754
Fixed Assets 12921 15303 15107 15893 16524 19374 21328 22922 23867 25499 27479
Other Non-Current Assets 5340 5074 11682 13736 21323 20618 16477 15847 19096 20661 23209
Total Current Assets 22581 25574 24863 26269 26394 31747 39505 34992 34232 39671 41066
Total Assets 40848 45952 51651 55898 64241 71739 77311 73761 77196 85831 91754

ITC Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 309 276 -2 264 339 174 343 677 310 267 406
Cash Flow from Operating Activities 7344 9843 9799 10627 13169 12583 14690 12527 15776 18878 17179
Cash Flow from Investing Activities -3254 -5275 -3921 -3251 -7114 -5546 -6174 5683 -2238 -5732 1563
Cash Flow from Financing Activities -4122 -4661 -5613 -7301 -6221 -6869 -8181 -18634 -13581 -13006 -18551
Net Cash Inflow / Outflow -32 -93 266 75 -166 169 334 -424 -43 139 191
Closing Cash & Cash Equivalent 276 183 264 339 174 343 677 310 267 406 597

ITC Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 7.45 8.04 7.74 8.47 9.24 10.27 12.45 10.69 12.37 15.44 16.39
CEPS(Rs) 8.35 8.98 8.76 9.57 10.43 11.61 14.02 12.21 13.99 17.13 18.08
DPS(Rs) 6 6.25 8.5 4.75 5.15 5.75 10.15 10.75 11.5 15.5 13.75
Book NAV/Share(Rs) 22.75 26.35 34.36 36.89 41.49 46.61 51.46 47.64 49.61 55.05 59.27
Core EBITDA Margin(%) 26.37 26.6 26.28 26.34 34.61 36.95 37.52 32.01 31.63 33.58 34.14
EBIT Margin(%) 26.38 27.19 27.13 27.38 36.75 38.55 39.14 33.86 31.9 33.97 35.42
Pre Tax Margin(%) 26.32 27.02 26.99 27.3 36.51 38.41 38.98 33.75 31.81 33.87 35.32
PAT Margin (%) 18.13 18.37 17.26 17.85 24.1 25.74 30.34 25.18 23.78 25.45 27.01
Cash Profit Margin (%) 20.08 20.3 19.21 19.81 26.69 28.54 33.54 28.27 26.43 27.82 29.37
ROA(%) 23.6 22.5 19.47 19.48 19.13 18.88 20.92 17.72 20.54 23.89 23.37
ROE(%) 35.82 33.21 25.97 24.28 24.08 23.82 25.9 21.96 25.89 30.07 29.14
ROCE(%) 51.77 48.72 39.99 36.03 35.4 34.42 32.33 28.65 33.87 39.49 37.88
Receivable days 14.12 15.18 12.92 13.65 19.73 24.59 23.43 17.39 13.89 12.92 16.58
Inventory Days 58.08 57.82 58.5 53.4 59.74 56.2 59.44 66.18 59.51 53.99 61.57
Payable days 53.45 50.98 58.64 56.84 70.85 73.39 75.12 72.06 60.43 57.11 63.34
PER(x) 31.57 27 28.25 33.11 27.71 28.88 13.81 20.43 20.28 24.83 26.15
Price/Book(x) 10.34 8.23 6.36 7.6 6.17 6.36 3.34 4.59 5.06 6.97 7.23
Dividend Yield(%) 1.7 1.92 2.59 1.69 2.01 1.94 5.9 4.92 4.59 4.04 3.21
EV/Net Sales(x) 7.86 6.52 6.58 7.9 7.12 7.44 4.13 5.36 5.02 6.65 7.45
EV/Core EBITDA(x) 19.75 16.36 16.12 19.61 16.87 17.45 9.33 13.45 13.52 17.04 18.19
Net Sales Growth(%) 11.67 9.96 0.92 9.15 1.57 11.29 2.17 -0.27 23.13 16.93 -0.08
EBIT Growth(%) 16.65 10.49 3.35 7.62 9.01 9.68 4.65 -10.54 15.58 24.96 4.72
PAT Growth(%) 16.86 8.62 -2.71 10.28 9.69 11.69 21.48 -14.17 15.84 25.63 6.54
EPS Growth(%) 16.11 7.84 -3.68 9.42 9.03 11.23 21.22 -14.13 15.68 24.85 6.12
Debt/Equity(x) 0.01 0.01 0 0 0 0 0 0 0 0 0
Current Ratio(x) 1.9 2.1 3.73 3.69 2.85 3.17 4.13 3.27 2.81 2.89 3
Quick Ratio(x) 1.21 1.4 2.37 2.55 2.04 2.39 3.2 2.3 1.92 2.03 1.97
Interest Cover(x) 448.43 158.89 191.18 327.87 152.37 269.2 247.19 310.44 346.73 334.23 339.99
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0 0

ITC Shareholding Pattern

# Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Promoter 0 0 0 0 0 0 0 0 0 0
FII 12.66 42.65 42.96 43.32 43.6 43.32 43.23 40.93 40.45 40.52
DII 42.78 42.4 42.2 42.09 41.94 41.94 42.01 43.78 44.04 44.61
Public 44.46 14.87 14.77 14.54 14.41 14.69 14.7 15.24 15.46 14.83
Others 0.1 0.07 0.07 0.06 0.06 0.06 0.06 0.05 0.05 0.05
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 28%
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 0%.
  • Debtor days have increased from 57.11 to 63.34days.
  • Stock is trading at 7.7 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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