Moneycontrol PRO

ITC: Broad-based recovery, with cigarette business back to pre-COVID levels

Investors need to watch for ITC's growth in FMCG business and sustainability of margins, going forward

October 28, 2021 / 10:55 AM IST
ITC: Broad-based recovery, with cigarette business back to pre-COVID levels

Cummins India | The company reported higher consolidated profit at Rs 221.03 crore in Q2FY22 against Rs 173.16 crore in Q2FY21, revenue rose to Rs 1,730.23 crore from Rs 1,169.99 crore YoY.

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The results for ITC (CMP: Rs 238; Market Capitalisation: Rs 29,3717 crore) came in line with Street expectations. Despite very high raw material prices, the FMCG segment was able to sustain the margins on a sequential basis. September quarter results Gross revenues grew by 11 percent year on year (YoY) on the back of double-digit growth in the cigarette, paper and paperboards business and the hotel business bounced back while agri-business declined. (image) Gross margin improved sequentially despite high commodity price inflation....

  • PRO Panorama

    Moneycontrol Pro Panorama | If all debt income is short term, what about equity? 

    Mar 27, 2023 / 02:51 PM IST

    In today’s edition of Moneycontrol Pro Panorama: Rahul's expulsion could work in Congress's favour, major economies record stron...

    Read Now
  • PRO Weekender

    Moneycontrol Pro Weekender: Between the Fed and a hard place

    Mar 11, 2023 / 11:38 AM IST

    The Fed is caught between combating inflation and worries over a financial mishap

    Read Now

To read the full story, Subscribe to Moneycontrol PRO

Access the exclusive stories, weekly investment ideas and daily technical calls in an Ad free experience

Already a member? Sign in

Limited Period offer on Moneycontrol PRO. Subscribe to PRO and get up to

50% OFF

What Do You Get

  • Ad free experience

    Experience a non-intrusive navigation and faster response in the ad free mode

  • Sharpest Opinions

    Access to 230+ exclusive stories per month from our editorial and Experts

  • +

    Have a Global edge with access to content from world renowned experts and journalist

  • Actionable Insights

    Access to 40+ weekly investment ideas including 4 daily technical calls

  • Virtual Events

    Exclusive access to live webinars from market experts on trading and investment strategies

  • Newsletters

    Daily and weekly insights bundled and sent to your inbox to keep you ahead in the race.

Get upto 50% discount on limited period offers