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Analysts polled by CNBC-TV18 expect volume growth to continue to remain muted in Q4 impacted by four consecutive years of excise duty hikes and corresponding price hikes of 15 percent taken post Union Budget. Cigarette volumes are expected to decline by 9-10 percent, similar to what was seen in last quarter.
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Gaurang Kakkad, Vice President of Institutional Research at Religare Capital Markets expects a 10-12 percent volume growth from Asian Paints in FY16.
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Varun Lohchab of CIMB Equities maintains a reduce or sell rating on HUL with target price at Rs 750 per share on expensive valuations.
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Cigarette-hotel-to-FMCG major ITC missed street expectations on topline as well as bottomline front in the third quarter.
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Sales are expected to increase by 7.3 percent Q-o-Q (up 11 percent Y-o-Y) to Rs 9686.8 crore, according to Motilal Oswal.
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Sales are expected to increase by 10.6 percent Q-o-Q (up 14.5 percent Y-o-Y) to Rs 9876.1 crore, according to ICICIdirect.
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Cigarette-hotel-to-FMCG major ITC's third quarter profit is expected to rise 12.6 percent year-on-year to Rs 2,686 crore, according to the average of estimates of analysts polled by CNBC-TV18.
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The company's profit was estimated at Rs 2,458 crore on revenue of Rs 9,063 crore for the quarter, according to the average of estimates of analysts polled by CNBC-TV18.
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Net sales is seen going up 16.6 percent to Rs 9,063 crore in the quarter ended September 2014 compared to Rs 7,776 crore in corresponding quarter of last fiscal driven by strong performance in cigarette, FMCG others and agri segments.
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Sales are expected to increase by 2 percent Q-o-Q (up 20 percent Y-o-Y) to Rs 9711 crore, according to KR Choksey.
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Sales are expected to decrease by 3.9 percent Q-o-Q (up 13 percent Y-o-Y) to Rs 8884.7 crore, according to Motilal Oswal.
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Sanjay Singh remains neutral because long-term prospects are quite fine but from a one year perspective, there could be some more downside.
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The FMCG bellwether ITC reported its quarter three numbers. It was a rock solid, steady quarter from the company. Pretty much all the numbers were inline with what the street was expecting and on some parameters even marginally ahead than what the street was expecting.
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V Srinivasan of Angel Broking says FMCG major ITC‘s Q3 results have come inline with the brokerage estimates. He recommends a buy on the stock with a target price of Rs 382.
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Revenues growth is expected to be lead by price hikes taken by company for cigarettes business, but that steep price hikes may keep the pain in cigarette volume growth in the December ended quarter.
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According to ICICIdirect.com, revenues of ITC are expected to increase by 10 percent Q-o-Q (up 12.1 percent Y-o-Y) to Rs 8549.9 crore.
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According to Motilal Oswal, sales of ITC are expected to increase by 7.9 percent Q-o-Q (up 10 percent Y-o-Y) to Rs 8483.3 crore.
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Kaustubh Pawaskar, FMCG Analyst, Sharekhan expects the stock to remain under pressure.
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Gaurang Kakkad of Religare Capital Markets says, ITC could see a volume degrowth of 2-3% in cigarettes in Q2. However, if the company is able to post 16-18 percent EBIT growth in cigarette that would be viewed as a positive.
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According to ICICIdirect.com, ITC may report a 13.8 percent growth quarter-on-quarter (up 17.3 percent Y-o-Y) in net profit at Rs 2,153.2 crore.
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Cigarette business, which is the major driver for ITC - accounts for 40 percent of total revenues, will be closely watched by analysts. The street will watch cigarette volume trend post price hikes taken during the quarter and update on 64mm segment.
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According to KR Choksey, ITC to report a 4 percent growth quarter-on-quarter (up 7 percent Y-o-Y) in net profit at Rs 1,969 crore.
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According to Motilal Oswal, ITC to report a 10.5 percent growth quarter-on-quarter (up 13.8 percent Y-o-Y) in net profit at Rs 2,090 crore.
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Varun Lohchab, Director, CIMB told CNBC-TV18 that the fall in the volume growth was muted but it was not unexpected. Going ahead he sees margins of the company at risk.
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ITC saw a sharp slump in trade on Thursday. The company's April-June quarter net profit rose 18 percent year-on-year to Rs 1,891 crore, in-line with street expectations.
