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Maintain ‘Neutral’ on ITC with target price of Rs 278
Posted on 23rd January 2018
EBITDA rose 10.1% y-o-y to Rs 39 billion, while adjusted PAT increased 6.5% y-o-y to Rs 28.2 billion. Cigarette volume decline is likely to have been 2%. Calculated cigarette revenue grew 14% y-o-y, while cigarette EBIT increased 8% (410bp contraction in margin). There has been no price increase over the last three-four months, unlike the previous years, when ITC used to increase prices ahead of the budget. FMCG – Others’ sales were up 12.2% y-o-y to Rs 28.7 billion, with EBIT profit of Rs 470 million v/s Rs 197 million loss in 3QFY17, led by enhanced scale, mix and cost efficiencies.

ITC’s cigarettes business yet to recover from GST cess blow
Posted on 22nd January 2018
In any other year, this month would have been the occasion to wonder if ITC Ltd would face a hike in duties on cigarettes in the Budget. Under the goods and services tax (GST), that has changed as the rate fixing decision now rests with the GST Council. Not that it has made life easier for ITC. The surprise hike in cess on cigarettes in July has hit ITC’s performance for the second quarter now.

ITC Results Preview: Cigarette price hike to make up for volume decline
Posted on 19th January 2018
Even as cigarettes’ sales volume is likely to decline by 2-5 per cent during October-December period of the current financial year, increased revenue from other segments is likely to result in ITC Ltd posting an eight per cent growth in its topline at around Rs 99-100 billion. The company’s net profit is expected to hover around Rs 26-28 billion.

In the third quarter (Q3) of the last financial year, the company had posted a Rs 26.40 billion bottom line and a Rs 97.64 billion topline.


ITC Ltd daily share prices
Posted on 16th January 2018
ITC Limited is an Indian company, headquartered in Kolkata, West Bengal, which deals in consumer goods, hotels, paperboards and packaging, agri business and information technology. The company was established in 1910 as the Imperial Tobacco Company of India Limited. Later in 1970, it was renamed as the Indian Tobacco Company Limited and further to I.T.C. Limited in 1974.

ITC’s investors await a smoke signal
Posted on 18th December 2017
ITC Ltd’s shares have not recovered from the blow dealt by the steep hike in cess on cigarettes. Even five months down the line, there were no signs investors were doing a rethink. Could last week’s Karnataka high court ruling change that?

The court struck down government rules requiring larger graphic warnings on packs. A Reuters report said the government will appeal the decision in the Supreme Court, indicating that the legal process will take some time.


ITC Infotech eyes buyouts in AI, automation, cyber security, IoT space
Posted on 8th December 2017
ITC Infotech, a subsidiary of ITC Ltd, is looking for buyouts in the automation space to become a futuristic software firm.

The company has set a budget ranging from $25 million to $50 million for this purpose, Sushma Rajagopalan, MD and CEO of ITC Infotech, said.


ITC launches fresh fruit and veggie brand Farmland
Posted on 3rd November 2017
Diversified conglomerate ITC on Thursday forayed into the fresh fruit and vegetables market with a new brand Farmland. Beginning its journey in the highly untapped packaged fresh vegetables market in India with four variants of potatoes, the company plans to come up with more such offerings every quarter in line with its new-found focus on branded fresh and processed food and beverage market.

According to S Sivakumar, head of agri business, ITC, the product category is currently the largest among all fresh fruit and vegetables in India, seeing a total business of Rs 70,000 crore. The new products will be priced at up to 15 per cent premium to unorganised market prices. And their retailers will be allowed to adjust prices depending on retail market prices.


ITC expects Yippee to enter Rs 1,000 crore club by 2020
Posted on 2nd November 2017
BENGALURU: ITC Foods, the branded packaged food division of diversified conglomerate ITC, expects its instant noodles brand Yippee to join the Rs 1,000-crore revenue club by 2020 and emerge as the fourth power brand, turbo-charging the unit's ambitious growth plans.Yippee, which was launched in 2010 and includes both noodles and pastas, already has a share of 22.5% in a market that is roughly valued at about Rs 4,000 crore.

ITC Q2 net increases nearly 6% at Rs 2,640 cr
Posted on 27th October 2017
Country's biggest cigarette maker ITC Ltd reported almost 6% rise in net profit at Rs 2,640 cr for the September quarter as against Rs 2,500 crore in year-ago period, helped by lower costs.

Total income during the quarter under review was Rs 10,258.13 crore as against Rs 14,091.96 crore in the year-ago period.


ITC explores ways to venture into health and wellness market
Posted on 12th September 2017
Salt-to-hotel conglomerate ITC is exploring ways to develop health and wellness consumer products. The firm, currently experimenting with medicinal plants, may foray into the fast-growing natural personal care products market eventually. While it has already ventured into fortified food products under its Aashirvaad brand, the next phase may focus on covering therapeutic, preventive and post-care segments.

To begin with, it has taken up a farm-level project at Sehore district of Madhya Pradesh this year, where it is studying an array of medicinal plants like ashwagandha, sarpagandha, mint, tulsi and gudmar, among others.


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