ITC Ltd

ITC Ltd

₹ 411 0.43%
27 Feb 2:59 p.m.
About

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]

Key Points

Geographical Distribution
For FY22, India accounted for 78% of ITC's revenue while rest was from exports[1]

  • Market Cap 5,12,892 Cr.
  • Current Price 411
  • High / Low 500 / 370
  • Stock P/E 25.1
  • Book Value 53.9
  • Dividend Yield 3.11 %
  • ROCE 38.2 %
  • ROE 29.0 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 3.10%.
  • 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 7.60 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
11,969 13,295 12,217 12,731 15,862 15,531 17,290 16,130 16,226 16,398 15,828 16,550 16,483
7,654 8,822 8,225 8,116 10,760 10,306 11,642 10,266 10,003 10,189 9,578 10,508 10,459
Operating Profit 4,315 4,473 3,992 4,615 5,102 5,224 5,648 5,864 6,223 6,209 6,250 6,042 6,024
OPM % 36% 34% 33% 36% 32% 34% 33% 36% 38% 38% 39% 37% 37%
972 772 429 677 810 674 313 507 872 819 709 896 1,130
Interest 14 3 10 10 11 10 9 11 10 12 11 11 12
Depreciation 392 388 395 401 409 446 412 422 407 422 402 413 417
Profit before tax 4,880 4,854 4,015 4,880 5,492 5,442 5,540 5,939 6,678 6,595 6,546 6,514 6,725
Tax % 24% 23% 25% 24% 24% 23% 25% 25% 25% 23% 25% 24% 17%
3,688 3,748 3,013 3,697 4,156 4,191 4,169 4,466 5,031 5,087 4,903 4,927 5,572
EPS in Rs 3.00 3.05 2.45 3.00 3.37 3.40 3.38 3.60 4.05 4.09 3.94 3.95 4.47
Raw PDF

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: 26%
1 Year: 7%
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%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
12.79% 11.74% 10.81% 9.99% 11.99% 12.68% 42.68% 42.99% 43.35% 43.62% 43.34% 43.26%
42.50% 42.40% 43.72% 43.79% 42.77% 42.82% 42.38% 42.19% 42.08% 41.92% 41.94% 41.98%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
44.71% 45.86% 45.47% 46.22% 45.24% 44.50% 14.87% 14.78% 14.52% 14.41% 14.68% 14.71%
No. of Shareholders 21,96,47526,30,12825,68,03029,97,69928,40,96428,38,03628,96,35829,36,69229,30,52730,13,79332,74,36033,35,815

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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