Key Points
Steady volume growth in both cigarettes and non-cigarette FMCG business, coupled with strong traction in the hotels segment is likely to aid ITC Ltds earnings for the quarter ended December...
ITC is seen reporting a nearly 5% year-on-year (YoY) growth in revenue for the December quarter to Rs 17,016 crore, according to the average of estimates given by eight brokerages...
In the FMCG segment, we estimate 7.5% YoY revenue growth (versus 8.3%/16.1% in 2Q/1Q), as price hikes anniversarized since Q2 and 70/180 bps QoQ/YoY expansion in EBIT margin to 9%..
Agri business is expected to grow 10% YoY, as the base quarter was impacted by a ban on wheat and rice imports, whereas paperboards could decline 5% YoY (weak demand and price correction) and report an EBIT margin of 17.5%...
FMCG business growth to moderate on pricing anniversaries. Paper to see a significant correction in overall pricing.. EBITDA margin to see a decent swing owing to improved sales mix, the benefits of integrated manufacturing facilities...
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