BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
We attended ITC Ltd.'s analyst meet. The company aims to achieve double digit revenue and operating profit growth in near term.
Cigarette business is witnessing improvement in revenue mix driven by new launches (new products contribute 11% to volume, while assortment increased two times during last eight years). Rich revenue mix should help in offsetting impact on cigarette volume growth due to tax driven price hikes taken earlier/if-any-in-future.
On fast moving consumer good business; ITC expects to maintain Ebitda margin despite raw material cost inflation.
In hotel business; company expects leisure segment to outperform in near term while business travel continues to face growth headwinds due to rise in virtual reality. ITC expects inbound tourism to do well in near term.
On the IT business; the company sounded positive on separate listing. Capex is expected to be ~30 billion per annum for next three years.
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