ITC Ltd.

In the news

ITC shares plunge as India proposes more taxes on cigarettes Feb 3, 2020
Asian stocks fall more amid growing fears over China epidemic Feb 3, 2020
India's ITC beats profit estimates on lower taxes and rising cigarette demand Oct 24, 2019
Asian equities fall as fresh concerns surface over US-China trade talks Sep 23, 2019
Asian equities slump as yuan's tumble below 7 to dollar spooks investors Aug 5, 2019

Company Background

ITC makes cigarettes and other fast-moving consumer goods. It is also a hotel operator and is involved in other businesses. It is a principal associate of London-based British American Tobacco, which holds a 30% or so stake through three entities. Insurance companies, mutual funds and banks own another 35% of ITC, while the Indian government holds about 11%.

Y C Deveshwar, a Harvard Business School alum, joined the company in 1968 and has been the CEO and chairman since January 1996. He also sits on the Reserve Bank of India's Central Board and serves on national executive committees of some of the country's premier trade and industry bodies. In 2011, he was conferred the Padma Bhushan, one of India's highest civilian awards.

Founded in 1910 in Kolkata, ITC focused on the cigarette and leaf tobacco businesses for its first 60 years. It was originally known as the Imperial Tobacco Co. of India.

Business Summary

ITC Ltd. is a holding company, which engages in the manufacture and trade of consumer products. It operates through the following segments: Fast Moving Consumer Goods (FMCG) Cigarettes; FMCG Others; Hotels; Paperboards, Paper and Packaging, and Agri Business. The FMCG Cigarettes segment markets and sells tobacco and cigars. The FMCG Others segment distributes packaged foods, clothes, school and office supplies, safety matched, agarbattis, and personal care products. The Hotels segment manages and operates hotel and restaurant chains. The Paperboards, Paper and Packaging segment produces and supplies specialty boards, graphic boards, and printing papers. The Agri Business segment exports feed ingredients, food grains, processed fruits, coffee, and seafood. The company was founded on August 24, 1910 and is headquartered in Kolkata, India.

Financial Highlights

Mar 2019	INR	USD
Revenue	482,404.50M	6,897.13M
Gross Profit	223,732.90M	3,198.80M
Operating income	170,285.50M	2,434.64M
Income before tax	191,498.20M	2,737.92M
Net income	125,923.30M	1,800.37M
EBITDA	184,251.60M	2,634.32M
Diluted EPS	10.23	0.14
Dividends Per Share	5.75	0.08
Total Assets	717,984.10M	10,364.25M
Total liabilities	123,140.70M	1,777.56M
Total equity	591,406.40M	8,537.08M
Operating cash flow	136,826.50M	1,956.26M
	Currency in INR	Currency in USD

Historical Data

INR | USD

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
Revenue	384,333.10M	391,169M	426,357.10M	433,547.10M	482,404.50M
Gross Profit	178,367.60M	189,395.80M	195,024.30M	201,446.20M	223,732.90M
Operating income	127,553.50M	134,326.80M	141,758.20M	151,863.60M	170,285.50M
Income before tax	143,620.50M	148,506.50M	160,263.20M	174,091.10M	191,498.20M
Net income	96,631.70M	93,444.50M	102,894.40M	112,712M	125,923.30M
EBITDA	137,833.10M	145,852.80M	153,286.10M	164,226.40M	184,251.60M
Diluted EPS	8	7.70	8.44	9.20	10.23
Dividends Per Share	4.16	4.33	4.75	5.15	5.75
Total Assets	464,628.70M	516,918.80M	559,432.70M	642,888.60M	717,984.10M
Total liabilities	145,022.70M	87,514.60M	92,209.50M	114,059.80M	123,140.70M
Total equity	317,352.60M	426,792.90M	464,127M	525,098.80M	591,406.40M
Operating cash flow	106,541.90M	105,767.40M	114,866.10M	142,438.60M	136,826.50M

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
Revenue	6,285.76M	5,974.70M	6,358.12M	6,725.20M	6,897.13M
Gross Profit	2,917.19M	2,892.82M	2,908.33M	3,124.84M	3,198.80M
Operating income	2,086.13M	2,051.70M	2,113.99M	2,355.71M	2,434.64M
Income before tax	2,348.91M	2,268.28M	2,389.95M	2,700.50M	2,737.92M
Net income	1,580.40M	1,427.26M	1,534.43M	1,748.39M	1,800.37M
EBITDA	2,254.25M	2,227.75M	2,285.90M	2,547.48M	2,634.32M
Diluted EPS	0.13	0.11	0.12	0.14	0.14
Dividends Per Share	0.06	0.06	0.07	0.07	0.08
Total Assets	7,424.40M	7,805.78M	8,615.27M	9,856.97M	10,364.25M
Total liabilities	2,317.35M	1,321.52M	1,420.02M	1,748.80M	1,777.56M
Total equity	5,071.04M	6,444.83M	7,147.56M	8,050.98M	8,537.08M
Operating cash flow	1,742.49M	1,615.48M	1,712.96M	2,209.51M	1,956.26M

Valuation Measures

Mar 2019
PER	28.81
ROA	18.50%
ROE	22.55%
Operating margin	35.29%
Profit margin	26.10%

Key executives

Chairman & Managing Director: Sanjiv Puri
Chief Operating Officer-PSPD: V. Kulkarni
Chief Financial Officer & Executive Director: Rajiv Tandon
Vice President-Finance, IT & Procurement: Jagdish Singh
Compliance Officer & Head-Investor Service Centre: Tunal Kumar Ghosal

Shareholders

British American Tobacco plc (29.4%)
Life Insurance Corp of India (16.2%)
The Specified Undertaking of the Unit Trust of India (7.9%)
SBI Funds Management Pvt Ltd. (2.5%)
HDFC Asset Management Co. Ltd. (Invt Mgmt) (2.3%)
ICICI Prudential Asset Management Co. Ltd. (1.8%)
General Insurance Corp. of India (Invt Port) (1.7%)
The New India Assurance Co. Ltd. (Investment Portfolio) (1.4%)
GIC Pte Ltd. (Investment Management) (1.2%)
The Oriental Insurance Co. Ltd. (1.1%)

Contact Details

Website:http://www.itcportal.com
Address: Virginia House, 37 Jawaharlal Nehru Road, Kolkata, 700071, India
Phone: +91.33.22889371

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Competitors

Britannia Industries Ltd
Agro Tech Foods Limited

Last Updated on 1 Jun, 2020