ITC Q1 Review - Swift Recovery In Cigarettes, Paperboard Businesses: ICICI Direct

"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..ICICI Direct Report.ITC Ltd.'s cigarettes sales witnessed growth of 33%, largely contributed by volume recovery from the lockdown impacted base quarter (~40% volume decline). Some of the markets like Kerala, Odisha and North East remain partially impacted by the second wave. Cigarette Ebit grew 37%. Segment margins were up 210 basis points.ITC's fast moving consumer goods sales witnessed growth of 10.4% on the back of high demand for hygiene products and strong recovery of discretionary products from the low base last year. FMCG Ebitda grew 16% with a 40 bps improvement in margins. High commodity prices resulted in slower improvement in margins during the quarter. Education and stationary remained impacted due to closure of educational institutions..Click on the attachment to read the full report:.DISCLAIMERThis 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."

ITC Q1 Review - Swift Recovery In Cigarettes, Paperboard Businesses: ICICI Direct