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 2020	INR	USD
Revenue	492,733.10M	6,949.10M
Gross Profit	230,420.10M	3,249.65M
Operating income	175,739.50M	2,478.48M
Income before tax	200,263.50M	2,824.35M
Net income	153,062.30M	2,158.66M
EBITDA	192,128M	2,709.61M
Diluted EPS	12.45	0.17
Dividends Per Share	10.15	0.14
Total Assets	773,670.40M	10,226.80M
Total liabilities	117,163.10M	1,548.72M
Total equity	652,730.30M	8,628.14M
Operating cash flow	161,758.20M	2,281.30M
	Currency in INR	Currency in USD

Historical Data

INR | USD

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Revenue	391,169M	426,357.10M	433,547.10M	482,404.50M	492,733.10M
Gross Profit	189,395.80M	195,024.30M	201,446.20M	223,732.90M	230,420.10M
Operating income	134,326.80M	141,758.20M	151,863.60M	170,285.50M	175,739.50M
Income before tax	148,506.50M	160,263.20M	174,015.30M	191,381.20M	200,263.50M
Net income	93,444.50M	102,894.40M	112,712M	125,923.30M	153,062.30M
EBITDA	145,852.80M	153,286.10M	164,226.40M	184,251.60M	192,128M
Diluted EPS	7.70	8.44	9.20	10.23	12.45
Dividends Per Share	4.33	4.75	5.15	5.75	10.15
Total Assets	516,918.80M	559,432.70M	642,888.60M	717,984.10M	773,670.40M
Total liabilities	87,514.60M	92,209.50M	114,059.80M	123,140.70M	117,163.10M
Total equity	426,792.90M	464,127M	525,098.80M	591,406.40M	652,730.30M
Operating cash flow	105,767.40M	113,626.60M	138,694.70M	136,826.50M	161,758.20M

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Revenue	5,974.70M	6,358.12M	6,725.20M	6,897.13M	6,949.10M
Gross Profit	2,892.82M	2,908.33M	3,124.84M	3,198.80M	3,249.65M
Operating income	2,051.70M	2,113.99M	2,355.71M	2,434.64M	2,478.48M
Income before tax	2,268.28M	2,389.95M	2,699.33M	2,736.25M	2,824.35M
Net income	1,427.26M	1,534.43M	1,748.39M	1,800.37M	2,158.66M
EBITDA	2,227.75M	2,285.90M	2,547.48M	2,634.32M	2,709.61M
Diluted EPS	0.11	0.12	0.14	0.14	0.17
Dividends Per Share	0.06	0.07	0.07	0.08	0.14
Total Assets	7,805.78M	8,615.27M	9,856.97M	10,364.25M	10,226.80M
Total liabilities	1,321.52M	1,420.02M	1,748.80M	1,777.56M	1,548.72M
Total equity	6,444.83M	7,147.56M	8,050.98M	8,537.08M	8,628.14M
Operating cash flow	1,615.48M	1,694.47M	2,151.43M	1,956.26M	2,281.30M

Valuation Measures

Mar 2020
PER	13.79
ROA	20.52%
ROE	24.60%
Operating margin	35.66%
Profit margin	31.06%

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) (2.2%)
General Insurance Corp. of India (Invt Port) (1.7%)
ICICI Prudential Asset Management Co. Ltd. (1.6%)
The New India Assurance Co. Ltd. (Investment Portfolio) (1.4%)
The Oriental Insurance Co. Ltd. (1.1%)
JPMorgan Asset Management (UK) Ltd. (1.0%)

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

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Last Updated on 14 Aug, 2020