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ITC's stock rally has more legs; analysts remain positive after strong Q4

Continuing high raw material inflation is a key concern and rupee depreciation continues to be a pain point

FMCG
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The volumes for cigarettes are estimated to have grown 12 per cent. FMCG growth of 19.4 per cent was towards the higher end of the range

Devangshu Datta

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ITC’s results for the January-March quarter (Q4) were strong, with robust growth in the fast-moving consumer goods (FMCG) segment and a good performance in hospitality. The tobacco division’s performance was on expected lines, with double-digit volume growth, helped by reclaiming of market share from the smuggled trade. There was 60 per cent growth in non-cigarette earnings before interest and tax (Ebit), despite a relatively weak performance in paperboards.

ITC reported 6.1 per cent growth in sales to Rs 17,220 crore, 18.9 per cent in earnings before interest, tax, depreciation and amortisation (Ebitda) to Rs 6,210 crore, and 20.1 per cent
Topics : ITC Compass

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First Published: May 19 2023 | 8:55 PM IST

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