ITC Ltd
Established in 1910, ITC is the largest cigarette manufacturer and seller in the country. ITC operates in five business segments at present — FMCG Cigarettes, FMCG Others, Hotels, Paperboards, Paper and Packaging, and Agri Business. [1]
- Market Cap ₹ 5,41,025 Cr.
- Current Price ₹ 433
- High / Low ₹ 500 / 399
- Stock P/E 26.5
- Book Value ₹ 53.9
- Dividend Yield 2.94 %
- ROCE 38.2 %
- ROE 29.0 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 25.1%
- Company has been maintaining a healthy dividend payout of 99.5%
- Company's working capital requirements have reduced from 23.3 days to 14.6 days
Cons
- Stock is trading at 8.04 times its book value
- The company has delivered a poor sales growth of 10.2% over past five years.
* 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.
Peer comparison
Sector: Tobacco Products Industry: Cigarettes
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
25,138 | 29,893 | 33,228 | 36,490 | 36,583 | 40,080 | 40,620 | 44,983 | 45,620 | 45,485 | 56,341 | 66,043 | 65,260 | |
16,258 | 19,222 | 20,740 | 22,970 | 22,843 | 25,474 | 25,041 | 27,551 | 27,635 | 29,895 | 37,448 | 42,062 | 40,734 | |
Operating Profit | 8,880 | 10,671 | 12,488 | 13,519 | 13,740 | 14,605 | 15,578 | 17,431 | 17,985 | 15,590 | 18,893 | 23,981 | 24,525 |
OPM % | 35% | 36% | 38% | 37% | 38% | 36% | 38% | 39% | 39% | 34% | 34% | 36% | 38% |
814 | 915 | 1,094 | 1,518 | 1,767 | 1,981 | 2,528 | 2,382 | 2,825 | 3,195 | 2,649 | 2,506 | 3,553 | |
Interest | 98 | 106 | 24 | 78 | 72 | 45 | 110 | 58 | 80 | 59 | 61 | 74 | 45 |
Depreciation | 699 | 796 | 900 | 962 | 1,001 | 1,038 | 1,145 | 1,312 | 1,563 | 1,562 | 1,652 | 1,663 | 1,654 |
Profit before tax | 8,898 | 10,684 | 12,659 | 13,998 | 14,434 | 15,503 | 16,852 | 18,444 | 19,167 | 17,164 | 19,830 | 24,750 | 26,379 |
Tax % | 31% | 31% | 31% | 31% | 35% | 34% | 33% | 32% | 21% | 24% | 24% | 24% | |
6,162 | 7,418 | 8,785 | 9,608 | 9,328 | 10,201 | 11,223 | 12,464 | 15,136 | 13,032 | 15,058 | 18,753 | 20,489 | |
EPS in Rs | 5.25 | 6.26 | 7.36 | 7.99 | 7.73 | 8.40 | 9.20 | 10.17 | 12.31 | 10.59 | 12.22 | 15.09 | 16.45 |
Dividend Payout % | 57% | 56% | 54% | 52% | 73% | 57% | 56% | 57% | 82% | 102% | 94% | 103% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 10% |
3 Years: | 13% |
TTM: | 0% |
Compounded Profit Growth | |
---|---|
10 Years: | 10% |
5 Years: | 11% |
3 Years: | 7% |
TTM: | 14% |
Stock Price CAGR | |
---|---|
10 Years: | 6% |
5 Years: | 8% |
3 Years: | 29% |
1 Year: | 3% |
Return on Equity | |
---|---|
10 Years: | 25% |
5 Years: | 25% |
3 Years: | 25% |
Last Year: | 29% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 782 | 790 | 795 | 802 | 805 | 1,215 | 1,220 | 1,226 | 1,229 | 1,231 | 1,232 | 1,243 | 1,247 |
Reserves | 18,010 | 21,498 | 25,467 | 29,934 | 40,852 | 44,126 | 50,180 | 56,724 | 62,800 | 57,774 | 60,167 | 66,351 | 65,996 |
89 | 78 | 67 | 53 | 42 | 26 | 18 | 11 | 332 | 329 | 311 | 325 | 335 | |
10,107 | 11,652 | 12,901 | 13,407 | 8,333 | 8,849 | 10,963 | 11,837 | 10,874 | 12,246 | 13,382 | 14,343 | 15,316 | |
Total Liabilities | 28,988 | 34,017 | 39,229 | 44,196 | 50,031 | 54,216 | 62,381 | 69,798 | 75,235 | 71,580 | 75,092 | 82,262 | 82,894 |
9,099 | 11,209 | 12,013 | 14,178 | 14,011 | 14,880 | 15,566 | 18,486 | 20,518 | 22,188 | 23,221 | 24,174 | 24,492 | |
CWIP | 2,277 | 1,488 | 2,296 | 2,114 | 2,419 | 3,537 | 5,026 | 3,401 | 2,780 | 3,333 | 2,466 | 1,697 | 1,692 |
Investments | 6,317 | 7,060 | 8,823 | 8,405 | 13,325 | 18,585 | 23,397 | 26,578 | 30,631 | 26,984 | 27,282 | 32,721 | 30,352 |
11,296 | 14,260 | 16,097 | 19,498 | 20,277 | 17,213 | 18,393 | 21,332 | 21,307 | 19,075 | 22,123 | 23,670 | 26,357 | |
Total Assets | 28,988 | 34,017 | 39,229 | 44,196 | 50,031 | 54,216 | 62,381 | 69,798 | 75,235 | 71,580 | 75,092 | 82,262 | 82,894 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
6,016 | 6,710 | 6,962 | 9,309 | 9,212 | 10,002 | 12,651 | 11,749 | 13,806 | 11,494 | 14,808 | 17,912 | |
-2,544 | -3,581 | -2,823 | -4,820 | -3,711 | -2,780 | -6,691 | -5,082 | -5,517 | 6,555 | -1,517 | -5,159 | |
-3,247 | -3,233 | -4,174 | -4,574 | -5,465 | -7,138 | -6,020 | -6,601 | -7,891 | -18,379 | -13,337 | -12,730 | |
Net Cash Flow | 225 | -103 | -35 | -85 | 36 | 84 | -60 | 67 | 399 | -330 | -46 | 22 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 14 | 14 | 24 | 17 | 17 | 20 | 21 | 30 | 17 | 17 | 13 | 13 |
Inventory Days | 214 | 200 | 204 | 195 | 231 | 180 | 167 | 160 | 170 | 173 | 139 | 134 |
Days Payable | 55 | 50 | 55 | 47 | 60 | 58 | 78 | 71 | 73 | 75 | 59 | 55 |
Cash Conversion Cycle | 173 | 163 | 173 | 165 | 188 | 141 | 110 | 119 | 114 | 115 | 93 | 92 |
Working Capital Days | -27 | -17 | -2 | -13 | 48 | 44 | 28 | 30 | 28 | 29 | 26 | 15 |
ROCE % | 50% | 51% | 51% | 48% | 40% | 35% | 34% | 34% | 32% | 28% | 33% | 38% |
Documents
Announcements
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Compliances-Reg.24(A)-Annual Secretarial Compliance
2d - Secretarial Compliance report for the financial year ended 31st March, 2024
- Board Meeting Intimation for To Approve The Audited Standalone And Consolidated Financial Results For The Quarter And Twelve Months Ended 31St March, 2024 And Recommend Final Dividend For The Financial Year Ended 31St March, 2024. 2d
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 8 May
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
6 May - Details of the shares dematerialised by the Company during the month of April 2024 is provided in the enclosed Annexure A. The Company was not …
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Announcement under Regulation 30 (LODR)-Newspaper Publication
6 May - Publication of Advertisement re: Notice convening Meeting of the Ordinary Shareholders of ITC Limited
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Concalls
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Jan 2024TranscriptNotesPPT
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Oct 2023TranscriptNotesPPT
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Aug 2023TranscriptNotesPPT
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Aug 2023TranscriptNotesPPT
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Jul 2023TranscriptNotesPPT
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May 2023TranscriptNotesPPT
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Feb 2023TranscriptNotesPPT
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Dec 2022TranscriptNotesPPT
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Oct 2022TranscriptNotesPPT
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Aug 2022TranscriptNotesPPT
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May 2022TranscriptNotesPPT
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Feb 2022TranscriptNotesPPT
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Dec 2021TranscriptNotesPPT
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Oct 2021TranscriptNotesPPT
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Aug 2021TranscriptNotesPPT
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Jul 2021TranscriptNotesPPT
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Jun 2021TranscriptNotesPPT
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Jun 2021TranscriptNotesPPT
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Feb 2021TranscriptNotesPPT
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Feb 2021TranscriptNotesPPT
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Dec 2020TranscriptNotesPPT
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Nov 2020TranscriptNotesPPT
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Sep 2020TranscriptNotesPPT
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Jun 2019TranscriptNotesPPT
Geographical Distribution
For FY22, India accounted for 78% of ITC's revenue while rest was from exports[1]