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Q2FY24 Preview: ITC: Revenue seen at Rs. 180,719 million, PAT at Rs. 50,665 million

17 Oct 2023 , 04:48 PM

Result date: October 19, 2023

Recommendation: Buy

Target price: Rs. 500

ITC could post growth of 7% in cigarette volume over the year-ago quarter, believe analysts at IIFL Capital Services. In FMCG, they are forecasting ~10.8% sales growth — lower than the 13.5% clocked in the previous quarter, and ~10.6% sales growth in Hotels segment — greater than the 7.6% clocked in the previous quarter. ITC could post 15% fall in sales of the Agri-business as compared to the year-ago quarter. Higher occupancy and RevPAR should aid revenue growth of hotels business.

Profit After Tax (PAT) could grow by about 10% relative to the year-ago quarter.

Important management insights to watch out for:

  • Growth trends across product segments and markets
  • Pricing action and outlook on input costs, margins
Rs. Million

September 2023 estimates

YoY change

Revenue 

180,719

6.7%

EBITDA 

69,020

10.3%

PAT 

50,665

9.7%

Source: IIFL Research

Related Tags

  • ITC
  • ITC Q2
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