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:
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
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