ITC Ltd

ITC Ltd

₹ 429 -0.56%
18 Jun - 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 5,35,282 Cr.
  • Current Price 429
  • High / Low 500 / 399
  • Stock P/E 26.2
  • Book Value 59.7
  • Dividend Yield 3.21 %
  • ROCE 37.5 %
  • ROE 28.5 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 3.21%.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.5%
  • Company has been maintaining a healthy dividend payout of 92.4%

Cons

  • Stock is trading at 7.18 times its book value
  • The company has delivered a poor sales growth of 7.96% over past five years.
  • Working capital days have increased from 51.9 days to 104 days

* 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

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
14,342 13,247 13,757 17,108 16,556 18,489 17,108 17,705 17,635 17,164 17,774 18,019 17,923
9,471 8,804 8,740 11,510 10,956 12,412 10,849 11,000 11,011 10,494 11,320 11,516 11,296
Operating Profit 4,871 4,444 5,018 5,598 5,599 6,077 6,259 6,705 6,624 6,670 6,454 6,504 6,626
OPM % 34% 34% 36% 33% 34% 33% 37% 38% 38% 39% 36% 36% 37%
579 447 469 422 499 321 455 595 683 722 665 651 682
Interest 3 9 10 10 11 9 13 9 12 10 10 14 13
Depreciation 409 414 422 430 467 438 462 447 461 442 453 459 461
Profit before tax 5,039 4,467 5,055 5,580 5,620 5,950 6,239 6,844 6,833 6,940 6,656 6,682 6,834
Tax % 24% 25% 26% 26% 24% 25% 25% 26% 24% 25% 26% 19% 24%
3,820 3,344 3,766 4,127 4,266 4,472 4,682 5,080 5,243 5,190 4,965 5,407 5,191
EPS in Rs 3.05 2.66 3.01 3.29 3.40 3.56 3.73 4.03 4.16 4.10 3.93 4.28 4.10
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
31,618 35,306 38,817 39,192 42,768 43,449 48,340 49,388 49,257 60,645 70,919 70,881
20,398 22,227 24,566 24,661 27,298 26,928 29,802 30,044 32,193 40,021 45,215 44,627
Operating Profit 11,221 13,080 14,252 14,531 15,470 16,521 18,537 19,344 17,065 20,623 25,704 26,254
OPM % 35% 37% 37% 37% 36% 38% 38% 39% 35% 34% 36% 37%
852 966 1,229 1,483 1,759 2,240 2,080 2,417 2,577 1,910 2,098 2,720
Interest 108 29 91 78 49 115 71 81 58 60 78 46
Depreciation 859 965 1,028 1,077 1,153 1,236 1,397 1,645 1,646 1,732 1,809 1,816
Profit before tax 11,106 13,052 14,362 14,859 16,026 17,409 19,150 20,035 17,938 20,740 25,915 27,112
Tax % 31% 31% 32% 36% 35% 34% 33% 22% 25% 25% 25% 24%
7,704 9,001 9,779 9,501 10,477 11,493 12,836 15,593 13,383 15,503 19,477 20,751
EPS in Rs 6.42 7.45 8.04 7.74 8.47 9.24 10.27 12.45 10.69 12.37 15.44 16.39
Dividend Payout % 55% 54% 52% 73% 56% 56% 56% 82% 101% 93% 100% 84%
Compounded Sales Growth
10 Years: 7%
5 Years: 8%
3 Years: 13%
TTM: 0%
Compounded Profit Growth
10 Years: 9%
5 Years: 10%
3 Years: 16%
TTM: 7%
Stock Price CAGR
10 Years: 7%
5 Years: 9%
3 Years: 28%
1 Year: -5%
Return on Equity
10 Years: 25%
5 Years: 26%
3 Years: 28%
Last Year: 28%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 790 795 802 805 1,215 1,220 1,226 1,229 1,231 1,232 1,243 1,248
Reserves 22,368 26,442 30,934 41,875 45,198 51,290 57,915 64,044 59,116 61,223 67,912 73,259
102 242 269 84 46 36 13 277 271 249 306 303
12,069 13,369 13,948 8,888 9,440 11,695 12,585 11,760 13,143 14,491 16,370 17,016
Total Liabilities 35,329 40,848 45,952 51,651 55,898 64,241 71,739 77,311 73,761 77,196 85,831 91,826
12,140 12,921 15,303 15,107 15,893 16,524 19,374 21,713 23,298 24,232 25,851 27,830
CWIP 2,062 3,117 2,700 2,560 3,730 5,508 4,136 3,256 4,011 3,226 3,003 2,851
Investments 5,981 7,284 6,943 11,748 17,581 22,053 25,043 28,663 24,871 24,841 29,415 31,114
15,146 17,526 21,006 22,237 18,694 20,156 23,185 23,678 21,580 24,898 27,561 30,031
Total Assets 35,329 40,848 45,952 51,651 55,898 64,241 71,739 77,311 73,761 77,196 85,831 91,826

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
7,102 7,344 9,843 9,799 10,627 13,169 12,583 14,690 12,527 15,776 18,878 17,179
-3,881 -3,254 -5,275 -3,921 -3,251 -7,114 -5,546 -6,174 5,740 -2,238 -5,732 1,563
-3,310 -4,122 -4,661 -5,613 -7,301 -6,221 -6,869 -8,181 -18,634 -13,580 -13,006 -18,551
Net Cash Flow -90 -32 -93 266 75 -166 169 334 -367 -43 139 191

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 16 25 19 18 21 23 30 19 19 15 15 21
Inventory Days 227 228 212 244 185 173 165 187 189 150 148 190
Days Payable 53 58 50 63 60 80 74 76 78 61 59 64
Cash Conversion Cycle 189 195 181 199 145 115 122 129 129 104 105 146
Working Capital Days -5 9 -4 52 45 31 32 35 36 31 20 104
ROCE % 51% 50% 47% 40% 36% 34% 34% 32% 28% 33% 39%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
11.74% 10.81% 9.99% 11.99% 12.68% 42.68% 42.99% 43.35% 43.62% 43.34% 43.26% 40.95%
42.40% 43.72% 43.79% 42.77% 42.82% 42.38% 42.19% 42.08% 41.92% 41.94% 41.98% 43.76%
0.00% 0.00% 0.00% 0.00% 0.00% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
45.86% 45.47% 46.22% 45.24% 44.50% 14.87% 14.78% 14.52% 14.41% 14.68% 14.71% 15.23%
No. of Shareholders 26,30,12825,68,03029,97,69928,40,96428,38,03628,96,35829,36,69229,30,52730,13,79332,74,36033,35,81536,48,537

* 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.

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