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Accumulate ITC; target of Rs 228: KR Choksey

KR Choksey recommended accumulate rating on ITC with a target price of Rs 228 in its research report dated July 28, 2021.

August 04, 2021 / 12:48 PM IST
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KR Choksey's research report on ITC

In Q1FY22, Total revenue grew by 35.9% YoY (-7.9% QoQ) to INR 142,408 Mn which was above our estimates (est. INR 132,888 Mn). EBITDA margin expanded 309 bps YoY (down 42 bps QoQ) to 31.2% while absolute EBITDA grew by 50.9% YoY (-8.8% QoQ) to INR 44,437 Mn. EBIT grew by 59.5% YoY (-9.7% QoQ) to INR 40,296 Mn. Adj PAT grew by 30.5% YoY (-12.8% QoQ) to INR 32,765 Mn, PAT margin contracted by 96 bps YoY (down 137 bps QoQ) to 23%.


we retain our target price of INR 228 per share; an upside of 9.2% over the CMP. Accordingly, we retain “ACCUMULATE” rating on the shares of ITC Ltd.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Aug 4, 2021 12:48 pm

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