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stock update
ITC
Reco: Buy
Stock Update
Company details
Price target:
Rs365
Market cap:
Rs253,231 cr
52 week high/low:
NSE volume:
(no. of shares)
Rs410/295
80.4 lakh
BSE code:
500875
NSE code:
ITC
Sharekhan code:
ITC
Free float:
(no. of shares)
CMP: Rs316
801.6 cr
Shareholding pattern
Price chart
Results
Rs cr
Particulars
Q1FY16
Q1FY15
YoY %
Q4FY15
QoQ %
Net sales
8,587.7
9,248.3
-7.1
9,292.8
-7.6
-14.0
Total expenditure
5,201.8
5,970.7
-12.9
6,049.7
Operating profit
3,385.9
3,277.6
3.3
3,243.1
4.4
315.0
234.6
34.3
370.4
-14.9
10.5
15.2
-31.0
15.5
-32.6
3.5
Other income
Interest
Depreciation
Price performance
(%)
1m
3m
6m 12m
Adjusted PAT
Exceptional item
Absolute
-1.9
Relative -1.9
to Sensex
Reported PAT
EPS (Rs)
258.2
231.3
11.6
249.6
3432.2
3265.7
5.1
3348.4
2.5
1,166.8
1,079.3
8.1
987.2
18.2
2,265.4
2,186.4
3.6
2,361.2
-4.1
0.0
0.0
2,265.4
2,186.4
3.6
2,361.2
0.0
-4.1
2.8
2.7
2.8
2.9
-3.5
GPM (%)
63.1
57.0
610BPS
60.6
250BPS
OPM (%)
39.4
35.4
400BPS
34.9
450BPS
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(Rs cr)
Q1
FY16
Q1
FY15
YoY
%
Q4
FY15
FMCG - cigarettes
4,149.6
4,201.1
-1.2
4,210.7
-1.5
FMCG - others
2,171.0
1,934.6
12.2
2,566.5
-15.4
287.7
248.7
15.7
346.4
-17.0
2,325.4
3,296.1
-29.4
1,427.9
62.9
1,265.0
1,288.5
-1.8
1,202.6
5.2
-7.0 9,754.1
4.6
Hotels
Agri - business
Paperboard, paper
and packaging
Total
Less: inter
segment sales
Gross sales
10,198.6 10,968.9
1,693.3
1,804.5
8,505.4
9,164.4
-6.2
QoQ
%
565.9
199.2
-7.2 9,188.3
-7.4
Though the revenues from the non-cigarette fastmoving consumer goods (FMCG) business grew by 12.2%
to Rs2,171 crore, yet it reported a loss of Rs8 crore
(improved from a loss of Rs15.6 crore in Q1FY2015).
Q1FY16
YoY
%
Margins (%)
Q1FY15
Chg. in BPS
Q1FY16
2,781.1
-8.0
2,721.8
2.2
67.0%
64.8%
223.4
-15.6
-48.9
-0.4%
-0.8%
43.9
-7.3
-12.1
-40.0
-2.5%
-4.9%
234.1
Agri - business
233.9
202.5
15.5
10.1%
6.1%
391.4
254.4
274.9
-7.4
20.1%
21.3%
-122.1
3,254.2
3,171.4
2.6
38.3%
34.6%
365.4
Total
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Valuations (stand-alone)
Particulars
FY2013
FY2014
FY2015
FY2016E
FY2017E
29,901.3
33,238.6
36,507.4
41,392.2
47,990.3
7,418.4
8,785.2
9,607.7
10,754.0
12,590.1
EPS (Rs)
9.4
11.0
12.0
13.4
15.7
19.1
17.7
8.5
11.9
17.1
PE (x)
33.8
28.7
26.4
23.6
20.2
P/BV (X)
11.6
9.9
8.6
7.3
6.1
EV/EBIDTA (x)
23.7
20.2
18.9
16.2
13.8
8.4
7.6
7.0
6.0
5.1
RoCE (%)
45.4
45.2
41.7
40.2
39.7
RoNW (%)
36.1
36.2
33.7
32.3
32.0
EV/Sales (x)
Sharekhan Limited, its analyst or dependant(s) of the analyst might be holding or having a position in the companies mentioned in the article.
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