ITC Ltd Share Price – NSE  /  BSE

Tobacco Products, Mid Cap

ITC has allotted 15,24,070 Ordinary Shares of Rs 1 each, upon exercise of 1,52,407 Options by Optionees under the Company's Employee Stock Option Schemes.

Consequently, with effect from 20 November 2023, the Issued and Subscribed Share Capital of the Company stands increased to Rs 1247,29,73,721/- divided into 1247,29,73,721 Ordinary Shares of Rs 1/- each.

Powered by Capital Market - Live News

ITC has acquired 2,286 equity shares of Rs 10/- each of Delectable Technologies. With this acquisition, the company's holding in Delectable aggregates 39.32% of its share capital on a fully diluted basis.

Powered by Capital Market - Live News

ITC Ltd is down for a fifth straight session today. The stock is quoting at Rs 429.3, down 1.51% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.8% on the day, quoting at 19127.55. The Sensex is at 64031.94, down 0.84%.ITC Ltd has eased around 2.97% in last one month.Meanwhile, Nifty Financial Services index of which ITC Ltd is a constituent, has eased around 1.56% in last one month and is currently quoting at 51421.65, down 0.62% on the day. The volume in the stock stood at 64.07 lakh shares today, compared to the daily average of 83.69 lakh shares in last one month.

The benchmark October futures contract for the stock is quoting at Rs 427.9, down 1.6% on the day. ITC Ltd jumped 24.15% in last one year as compared to a 7.84% rally in NIFTY and a 16.26% spurt in the Nifty Financial Services index.

The PE of the stock is 27.33 based on TTM earnings ending September 23.

Powered by Capital Market - Live News

Net revenue increased by 2.4% YoY to Rs 16,357 crore during the period under review.

The FMCG Businesses delivered strong performance with segment revenue growing 8.3% YoY to Rs 5,292 crore and the segment's EBITDA margins expanded 150 bps YoY to 11% during the period under review. The growth in this segment was driven by staples, notebooks & pens, personal wash & agarbatti even as consumer demand environment remained relatively subdued.

While commodity prices declined on a YoY basis, the overall input cost table remains elevated compared to pre-pandemic levels; certain commodities such as wheat, maida, sugar, potato etc. witnessed sequential uptick in prices.

The business remain focused on driving profitability improvement through multi-pronged interventions viz. premiumisation, supply chain optimisation, digital interventions across the value chain, strategic cost management and judicious pricing actions,” the company said.

The FMCG - Cigarettes segment revenue rose by 10.1% to Rs 7,658 crore. Excluding excise duty/NCCD on sales, the net revenue growth was 8.5% on YoY basis.

The company commented that the Sharp escalation in costs of leaf tobacco and certain other inputs, along with increase in taxes was largely mitigated through improved mix, strategic cost management and calibrated pricing. The Business continues to counter illicit trade and reinforce market standing by fortifying the product portfolio through innovation, democratising premiumisation across segments and enhancing product availability backed by superior on-ground execution.

The revenue of the Hotels segment grew by 21.2% YoY to Rs 649 crore in Q2 FY24. The strong performance was driven by retail and MICE segments. Segment EBITDA margin expanded by 170 bps YoY to 30.7% driven mainly by higher RevPAR, curated packages, finest F&B offerings and strategic cost management initiatives.

Agri Business revenue declined by 1.7% YoY to Rs 3,931 crore in the second quarter. During the quarter, stock limits on wheat, ban on non-basmati rice exports and export duty on parboiled rice, further limited business opportunities for the Agri Business.

The revenue of the Paperboards, Paper & Packaging segment declined 9.5% to Rs 2070 crore in Q2 FY24 over Q2 FY23. The performance was impacted by low priced Chinese supplies and muted demand in export markets coupled with sharp reduction in global pulp prices and high base effect.

EBITDA improved by 3% to Rs 6,042 crore in the second quarter as compared with Rs 5,864 crore recorded in the same period last year.

Profit before tax in Q2 FY24 stood at Rs 6,514 crore, up by 9.7% from Rs 5,939 crore in Q2 FY23.

ITC is a diversified conglomerate with businesses spanning fast-moving consumer goods, hotels, paperboards and packaging, agribusiness and information technology.

The scrip fell 1.90% to currently trade at Rs 441.75 on the BSE.

Powered by Capital Market - Live News