ITC Q1 preview: FMCG segment to cushion overall nos; PAT may dip 30% YoY

Impact of the lockdown of manufacturing facilities, cigarette inventory levels, guidance on price and volume, and alternate distribution channels are among the key monitorables

A steep decline in its cigarette and hotel businesses due to the disruptions caused by the Covid-19 pandemic is expected to dent the June 2020 quarter (Q1FY21) earnings of the diversified conglomerate ITC, which is slated to announce its numbers on July 24, Friday. 

The company's fast-moving consumer goods (FMCG) and personal care verticals, analysts say, may perform better as the lockdown kept people indoors, thereby, boosting the demand for ready-to-eat/cook food items, and personal hygiene products such as soaps and sanitisers.

Impact of the lockdown of manufacturing facilities, cigarette inventory levels, the performance of new products / launches, guidance on price