ITC Ltd

About

ITC is one of India's foremost private sector companies with a market capitalisation of US $ 50 billion and Gross Sales Value of US $ 10 billion. ITC has a diversified presence in FMCG, Hotels, Packaging, Paperboards & Specialty Papers and Agri-Business.(Source : Company Web-Site)

  • Market Cap 205,740 Cr.
  • Current Price 167
  • High / Low 266 / 135
  • Stock P/E 14.3
  • Book Value 52.0
  • Dividend Yield 6.07 %
  • ROCE 31.8 %
  • ROE 25.0 %
  • Face Value 1.00

Pros

  • Company is virtually debt free.
  • Stock is providing a good dividend yield of 6.07%.
  • Company has been maintaining a healthy dividend payout of 64.99%

Cons

  • The company has delivered a poor growth of 4.56% over past five years.

Peer comparison

Sector: Tobacco Products Industry: Cigarettes

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
10,314 9,772 10,587 10,875 11,273 11,431 12,206 11,503 11,871 12,013 11,420 9,502
6,553 5,883 6,443 6,672 7,067 7,105 7,634 6,937 7,309 7,400 7,257 6,855
Operating Profit 3,762 3,889 4,144 4,202 4,206 4,326 4,572 4,566 4,562 4,613 4,164 2,647
OPM % 36% 40% 39% 39% 37% 38% 37% 40% 38% 38% 36% 28%
Other Income 494 1,055 516 404 504 836 740 620 654 852 756 897
Interest 29 24 23 7 14 6 8 15 13 12 15 17
Depreciation 282 291 304 299 327 335 350 359 396 416 392 398
Profit before tax 3,944 4,630 4,333 4,300 4,369 4,821 4,954 4,812 4,808 5,036 4,512 3,128
Tax % 33% 33% 32% 34% 32% 33% 30% 34% 16% 18% 16% 25%
Net Profit 2,640 3,090 2,933 2,819 2,955 3,209 3,482 3,174 4,023 4,142 3,797 2,343
EPS in Rs 2.17 2.53 2.40 2.31 2.41 2.62 2.84 2.59 3.27 3.37 3.09 1.91
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
15,604 18,144 21,450 25,138 29,893 33,228 36,490 36,583 40,080 40,620 44,983 45,603 44,806
10,739 12,066 14,018 16,269 19,246 20,753 22,995 22,808 25,479 25,056 27,560 27,618 28,821
Operating Profit 4,865 6,078 7,432 8,869 10,647 12,476 13,495 13,774 14,600 15,564 17,422 17,985 15,985
OPM % 31% 34% 35% 35% 36% 38% 37% 38% 36% 38% 39% 39% 36%
Other Income 557 637 580 825 939 1,107 1,543 1,732 1,986 2,543 2,392 2,825 3,158
Interest 48 90 88 98 106 24 78 72 45 110 58 80 57
Depreciation 549 609 656 699 796 900 962 1,001 1,038 1,145 1,312 1,563 1,603
Profit before tax 4,826 6,015 7,268 8,898 10,684 12,659 13,998 14,434 15,503 16,852 18,444 19,167 17,484
Tax % 32% 32% 31% 31% 31% 31% 31% 35% 34% 33% 32% 21%
Net Profit 3,264 4,061 4,988 6,162 7,418 8,785 9,608 9,328 10,201 11,223 12,464 15,136 14,305
EPS in Rs 2.88 3.55 4.30 5.25 6.26 7.36 7.99 7.73 8.40 9.20 10.17 12.31 11.64
Dividend Payout % 43% 94% 69% 57% 56% 54% 52% 73% 57% 56% 57% 82%
Compounded Sales Growth
10 Years:10%
5 Years:5%
3 Years:4%
TTM:-3%
Compounded Profit Growth
10 Years:14%
5 Years:10%
3 Years:15%
TTM:12%
Stock Price CAGR
10 Years:4%
5 Years:-6%
3 Years:-15%
1 Year:-34%
Return on Equity
10 Years:27%
5 Years:24%
3 Years:24%
Last Year:25%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
377 382 774 782 790 795 802 805 1,215 1,220 1,226 1,229
Reserves 13,358 13,683 15,179 18,010 21,498 25,467 29,934 40,852 44,126 50,180 56,724 62,800
Borrowings 178 108 99 89 78 67 53 42 26 18 11 332
5,583 8,849 9,381 10,107 11,652 12,901 13,407 8,333 8,849 10,963 11,837 10,874
Total Liabilities 19,495 23,021 25,434 28,988 34,017 39,229 44,196 50,031 54,216 62,381 69,798 75,235
7,272 8,142 8,345 9,099 11,209 12,013 14,178 14,011 14,880 15,566 18,486 20,518
CWIP 1,214 1,009 1,333 2,277 1,488 2,296 2,114 2,419 3,537 5,026 3,401 2,780
Investments 2,838 5,727 5,555 6,317 7,060 8,823 8,405 13,325 18,585 23,397 26,578 30,631
8,172 8,143 10,201 11,296 14,260 16,097 19,498 20,277 17,213 18,393 21,332 21,307
Total Assets 19,495 23,021 25,434 28,988 34,017 39,229 44,196 50,031 54,216 62,381 69,798 75,235

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
3,242 4,642 5,333 6,016 6,710 6,962 9,309 9,212 10,002 12,651 11,749 13,806
-1,237 -3,542 -685 -2,544 -3,581 -2,823 -4,820 -3,711 -2,780 -6,691 -5,082 -5,517
-1,548 -1,010 -3,552 -3,247 -3,233 -4,174 -4,574 -5,465 -7,138 -6,020 -6,601 -7,891
Net Cash Flow 456 89 1,096 225 -103 -35 -85 36 84 -60 67 399

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 37% 43% 48% 50% 51% 51% 48% 40% 35% 34% 34% 32%
Debtor Days 16 18 15 14 14 24 17 17 20 21 30 17
Inventory Turnover 1.47 1.62 1.75 1.85 2.06 1.97 2.01 1.71 2.02 2.17 2.43 2.30

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
18.63 18.00 17.49 17.31 17.05 17.04 16.75 15.64 15.18 14.65 14.60 12.96
36.68 37.10 37.63 37.75 38.10 38.20 38.40 42.47 42.58 42.46 42.09 43.54
44.69 44.90 44.88 44.94 44.85 44.76 44.85 41.89 42.24 42.89 43.31 43.50

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