ITC Ltd

₹ 346 1.99%
27 Jan - close price
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 429,525 Cr.
  • Current Price 346
  • High / Low 362 / 207
  • Stock P/E 25.3
  • Book Value 51.9
  • Dividend Yield 3.32 %
  • ROCE 32.8 %
  • ROE 24.9 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 3.32%.
  • Company has been maintaining a healthy dividend payout of 92.7%

Cons

  • The company has delivered a poor sales growth of 7.05% 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

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
11,659 11,806 10,842 8,911 11,310 11,969 13,295 12,217 12,731 15,862 15,531 17,290 16,130
7,097 7,193 6,679 6,265 7,222 7,654 8,822 8,225 8,116 10,760 10,306 11,642 10,266
Operating Profit 4,562 4,613 4,164 2,647 4,088 4,315 4,473 3,992 4,615 5,102 5,224 5,648 5,864
OPM % 39% 39% 38% 30% 36% 36% 34% 33% 36% 32% 34% 33% 36%
654 852 756 897 610 972 772 429 677 810 674 313 507
Interest 13 12 15 17 14 14 3 10 10 11 10 9 11
Depreciation 396 416 392 398 383 392 388 395 401 409 446 412 422
Profit before tax 4,808 5,036 4,512 3,128 4,301 4,880 4,854 4,015 4,880 5,492 5,442 5,540 5,939
Tax % 16% 18% 16% 25% 24% 24% 23% 25% 24% 24% 23% 25% 25%
Net Profit 4,023 4,142 3,797 2,343 3,253 3,688 3,748 3,013 3,697 4,156 4,191 4,169 4,466
EPS in Rs 3.27 3.37 3.09 1.91 2.64 3.00 3.05 2.45 3.00 3.37 3.40 3.38 3.60
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
21,450 25,138 29,893 33,228 36,490 36,583 40,080 40,620 44,983 45,620 45,485 56,341 64,813
13,993 16,258 19,222 20,740 22,970 22,843 25,474 25,041 27,551 27,635 29,895 37,448 42,974
Operating Profit 7,457 8,880 10,671 12,488 13,519 13,740 14,605 15,578 17,431 17,985 15,590 18,893 21,838
OPM % 35% 35% 36% 38% 37% 38% 36% 38% 39% 39% 34% 34% 34%
555 814 915 1,094 1,518 1,767 1,981 2,528 2,382 2,825 3,195 2,649 2,304
Interest 88 98 106 24 78 72 45 110 58 80 59 61 41
Depreciation 656 699 796 900 962 1,001 1,038 1,145 1,312 1,563 1,562 1,652 1,689
Profit before tax 7,268 8,898 10,684 12,659 13,998 14,434 15,503 16,852 18,444 19,167 17,164 19,830 22,412
Tax % 31% 31% 31% 31% 31% 35% 34% 33% 32% 21% 24% 24%
Net Profit 4,988 6,162 7,418 8,785 9,608 9,328 10,201 11,223 12,464 15,136 13,032 15,058 16,983
EPS in Rs 4.30 5.25 6.26 7.36 7.99 7.73 8.40 9.20 10.17 12.31 10.59 12.22 13.75
Dividend Payout % 69% 57% 56% 54% 52% 73% 57% 56% 57% 82% 102% 94%
Compounded Sales Growth
10 Years: 8%
5 Years: 7%
3 Years: 8%
TTM: 29%
Compounded Profit Growth
10 Years: 10%
5 Years: 8%
3 Years: 6%
TTM: 20%
Stock Price CAGR
10 Years: 5%
5 Years: 5%
3 Years: 14%
1 Year: 59%
Return on Equity
10 Years: 25%
5 Years: 23%
3 Years: 24%
Last Year: 25%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
774 782 790 795 802 805 1,215 1,220 1,226 1,229 1,231 1,232 1,240
Reserves 15,179 18,010 21,498 25,467 29,934 40,852 44,126 50,180 56,724 62,800 57,774 60,167 63,073
99 89 78 67 53 42 26 18 11 332 329 311 311
9,381 10,107 11,652 12,901 13,407 8,333 8,849 10,963 11,837 10,874 12,246 13,382 14,236
Total Liabilities 25,434 28,988 34,017 39,229 44,196 50,031 54,216 62,381 69,798 75,235 71,580 75,092 78,859
8,345 9,099 11,209 12,013 14,178 14,011 14,880 15,566 18,486 20,518 22,188 23,221 23,349
CWIP 1,333 2,277 1,488 2,296 2,114 2,419 3,537 5,026 3,401 2,780 3,333 2,466 2,432
Investments 5,555 6,317 7,060 8,823 8,405 13,325 18,585 23,397 26,578 30,631 26,984 27,282 27,646
10,201 11,296 14,260 16,097 19,498 20,277 17,213 18,393 21,332 21,307 19,075 22,123 25,431
Total Assets 25,434 28,988 34,017 39,229 44,196 50,031 54,216 62,381 69,798 75,235 71,580 75,092 78,859

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
5,333 6,016 6,710 6,962 9,309 9,212 10,002 12,651 11,749 13,806 11,494 14,808
-685 -2,544 -3,581 -2,823 -4,820 -3,711 -2,780 -6,691 -5,082 -5,517 6,555 -1,517
-3,552 -3,247 -3,233 -4,174 -4,574 -5,465 -7,138 -6,020 -6,601 -7,891 -18,379 -13,337
Net Cash Flow 1,096 225 -103 -35 -85 36 84 -60 67 399 -330 -46

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 15 14 14 24 17 17 20 21 30 17 17 13
Inventory Days 236 214 200 204 195 231 180 167 160 170 173 139
Days Payable 62 55 50 55 47 60 58 78 71 73 75 59
Cash Conversion Cycle 188 173 163 173 165 188 141 110 119 114 115 93
Working Capital Days -28 -27 -17 -2 -13 48 44 28 30 28 29 26
ROCE % 48% 50% 51% 51% 48% 40% 35% 34% 34% 32% 28% 33%

Shareholding Pattern

Numbers in percentages

2 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
14.65 14.60 12.96 13.31 12.79 11.74 10.81 9.99 11.99 12.68 42.68 42.99
42.46 42.09 43.54 42.94 42.50 42.40 43.72 43.79 42.77 42.82 42.38 42.19
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.04
42.89 43.31 43.50 43.75 44.71 45.86 45.47 46.22 45.24 44.50 14.87 14.78

* 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.

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Documents

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