Thread: ITC - Research Report

ITC’s Q4FY10 results (28% revenue growth, 27% PAT growth) were driven by strong performance in core cigarette business (~9% volume growth) and higher than expected revenue growth in non-cig fmcg as well as Agri business. Higher trade spends in Cig, adverse mix change in Agri business and commissioning of Banglore hotel property impacted operating margins by nearly 150bps.
􀂄 Strong performance in cigarettes: Net sales grew by 18.5% YoY led by ~9% volume growth and improved realization led by price hikes. ITC has taken nearly 13-14% weighted average price hike post budget, ahead..

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http://www.dsij.in/productattachment...on/ITC%201.pdf

Source: Dalal Street Investment Journal
Dalal Street Investment Journal

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