17 May 2023 , 09:52 AM
Result date: 18th May, 2023
Recommendation: Buy
Target price: Rs. 425
Analysts at IIFL Capital Services are forecasting ITC’s cigarette volumes to grow by 15% over the year-ago quarter. In FMCG, they expect 17% sales growth — slightly lower than the 18% clocked in the previous quarter. They expect the Agri-business to post 25% fall in sales as compared to the year-ago quarter. Hotels business will witness continued momentum even as paper business could be on the path of recovery. Overall revenue growth is pegged at 8% over the year-ago quarter.
ITC’s EBIT margin could come in at 7.1%, aided by over 100 basis points expansion in gross margin, better product mix and cost savings.
ITC’s Profit After Tax (PAT) could grow 20% over the year-ago quarter.
Important management insights to watch out for:
Rs Million |
March 2023 estimates |
YoY change |
Revenue |
177,028 |
8.1% |
EBITDA |
67,378 |
20.3% |
Profit After Tax |
50,302 |
19.9% |
Source: IIFL Research
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.