ITC Ltd., incorporated in the year 1910, is a Large Cap company (having a market cap of Rs 283613.91 Crore) operating in Tobacco sector.
ITC Ltd. key Products/Revenue Segments include Packaged Food Item, Agricultural Products, Paper & Paper Boards, Others, Service (Hotel), Tobacco Unmanufactured, Printed Materials, Other Operating Revenue for the year ending 31-Mar-2020.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 14687.80 Crore, down -1.57 % from last quarter Total Income of Rs 14921.76 Crore and up 37.28 % from last year same quarter Total Income of Rs 10699.20 Crore. Company reported net profit after tax of Rs 3343.44 Crore in latest quarter.
Investment Rationale
The brokerage notes recent media reports indicate that the government panel (formed to decide on the future taxation policy for tobacco) is suggesting ways to raise tax on tobacco. While near-term volume/profitability trajectory will be sensitive to this outcome, the brokerage believes a rational policy (if) can provide some certainty in the medium term. Improving performance in other businesses can help overall narrative, nonetheless. Reiterate ADD; TP Rs260.
Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Sep-2021, while FIIs owned 13.59 per cent, DIIs 40.94 per cent.
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