Buy ITC; target of Rs 265: Geojit

Geojit is bullish on ITC has recommended buy rating on the stock with a target price of Rs 265 in its research report dated February 17, 2021.

Broker Research

February 18, 2021 / 14:46 IST

26 Aug, 2025 12:21

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Geojit's research report on ITC

ITC limited is a diversified conglomerate with presence in FMCG, Hotels, Paperboards & Specialty Papers, Packaging, and Agri-business. The company directly employs over 36,500 people across businesses. Q3FY21 standalone revenue up 4.9% YoY (+5.0% QoQ) led by growth in FMCG and Agri businesses. EBITDA margins improved further sequentially to 34.3% (vs. 34.1% in Q2FY21). PAT grew 13.3% QoQ to Rs. 3,663cr. Company declared interim dividend of Rs.5/share during the quarter. We see decent uptick in growth across all of ITC’s segments over the coming quarters. Though GoI’s draft bill on sales of loose cigarettes may have some impact on its cigarette business in the near term, ITC’s diversified portfolio is expected to deliver strong growth over the longer term.

Outlook

Hence, we reiterate our BUY rating on the stock with a rolled forward target price of Rs. 265 based on SOTP.

For all recommendations report, click here