ITC - Broad-Based Recovery In Q4; Attractive Valuations, Strong Free Cash Flow: Systematix

ITC’s Bingo chips packets at a street stall in Kannauj, Uttar Pradesh, India. (Photographer: Udit Kulshrestha/Bloomberg).

ITC - Broad-Based Recovery In Q4; Attractive Valuations, Strong Free Cash Flow: Systematix

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.

Systematix Research Report

ITC Ltd. reported largely in-line Q4 FY21 results.

Cigarette sales volumes grew ~8% YoY (on a muted base of down 10% YoY) led by increased mobility in metros and large towns in H2 FY21.

Fast moving consumer goods business (excluding education and stationery products) grew 16% YoY led by a strong recovery in discretionary and out-of-home portfolio (up 23% YoY), while staples and health and hygiene portfolio saw stable growth (up 13% YoY).

To cater to consumer needs, the company launched 120 plus new products in FY21 and strengthened its distribution reach.

The e-commerce channel continued to witness robust growth and its contribution to FMCG sales grew to ~5%.

Click on the attachment to read the full report:

Systematix ITC Q4FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.