ITC Ltd., incorporated in the year 1910, is a Large Cap company (having a market cap of Rs 261439.85 Crore) operating in Tobacco sector.
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
Continued sub-par growth in EBIT in the mainstay Cigarettes biz and tepid underlying cigarette volumes act as deterrents for a valuation re-rating. Thus, ITC’s valuation of ~15x FY23E appears fair.
Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of June 30, 2021, while FIIs held 11.9 per cent, DIIs 42.4 per cent and public and other 45.8 per cent.
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