Research And Views Archives | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Archives... Don't Miss Anything, Ever!

Here you will find all the research and views that we post on Equitymaster. Use the tools to customize the results to suit your preference!


















Authors
 

Indian tobacco industry: A view

Jul 7, 2005

Chewing tobacco has been a tradition in India for centuries. Of the total amount of tobacco produced in the country, around 48% is in the form of chewing tobacco, 38% as bidis, and only 14% as cigarettes.

ITC: 'Smoky' performance

Oct 29, 2004

Tobacco major, ITC, has reported 13% growth in its September quarter net sales. Its profits have clocked a similar growth rate during the said quarter. The company's margins have remained steady. Though the performance is encouraging, it is lower than the 24% topline growth it reported in the June quarter. Overall, the company has clocked over 18% topline and almost 15% bottomline growth in the first half of the current year.

ITC Vs Altria

Oct 7, 2004

In the past couple of years, cigarette major ITC, has made significant moves to de-risk its revenues. The company is now a strong No. 2 in terms of room capacity in India's hospitality sector (hotels). It also runs the largest packaged board business in Asia. It is one of the largest exporters of agri/marine products in Asia. Its new businesses include garment retailing, packaged foods, greeting cards, matchsticks and incense sticks. In a way, the company is modelling itself on the US tobacco gi

ITC: Strategy on course

Oct 29, 2003

Tobacco major, ITC Limited, has reported over 4% net revenue growth and just over 12% bottomline growth in 2QFY04. As per the company's release, adjusting for a one-off basmati export opportunity last year (worth Rs 1,920 m), the underlying net turnover was up nearly 17% YoY.

ITC: Entering non-smoking zone

Oct 13, 2003

Tobacco major, ITC Limited, is seeing an upswing on the bourses in recent times. In this article, we take a look at the reasons for the same.

ITC: Topline pressure

Jul 25, 2003

Tobacco major, ITC Limited, has recorded a marginal 1.5% topline growth during the June quarter. However, the company has managed to report a healthy 15.5% bottomline growth during the quarter. The company has attributed the topline sluggishness to a 10-day transporters’ strike in April ’03 which disrupted shipments considerably, particularly in the paperboards and agri business segments.

ITC: Diversification worries

May 26, 2003

Tobacco major, ITC Limited, has reported 16% net sales and an encouraging 15% bottomline growth in FY03. The numbers of last year have been restated to include ITC Bhadrachalam Paperboards, consequently making the numbers comparable.

ITC: OPM dip continues…

Oct 24, 2002

Tobacco major, ITC Limited, has reported over 22% topline and a 12% bottomline growth in 2QFY03. The slower bottomline growth seems largely a result of a 280 basis point dip in operating margins.

ITC: Still at the crossroads…

Jul 26, 2002

Tobacco major, ITC Limited, has recorded a 21% topline and a 15% bottomline growth in 1QFY03. The 1QFY02 figures have been restated to include ITC Bhadrachalam's numbers as well. The slower bottomline growth seems largely a result of a 360 basis point dip in operating margins.

ITC: Bhadrachalam blues

May 22, 2002

Tobacco major, ITC Limited, has finally declared its FY02 numbers. The numbers also include the fourth quarter performance of its newly amalgamated paperboard subsidiary, ITC Bhadrachalam. Consequently, the merged entity has recorded a 20% growth in topline YoY and an 18% growth in bottomline in FY02. However, YoY numbers are not comparable.

ITC: Another great quarter

Jan 18, 2002

ITC Limited's good performance continues unabated. As per figures available, the company has declared 8% growth in topline (post excise duties) in December quarter FY02. The company also managed to improve its bottomline by nearly 20% YoY.

ITC: Where do you go?

Dec 20, 2001

‘From today, fashion changes direction in Mumbai’, reads an advertisement in bold. The punch line refers to the opening of first Wills Sports retail showroom in Mumbai. Finally, signs of activity in ITC’s retail plans.

ITC: Great 2QFY02 performance but…

Oct 19, 2001

ITC Limited, India's tobacco major, has posted a net profit of Rs 3,336 m for the quarter ended September 30, 2001 (up 33% YoY). The company continues its relentless drive to improve operating margins even in this quarter. These margins stand at 43% (up 40 basis points YoY) in 2QFY02.

ITC: Merger concerns

Sep 6, 2001

Cigarette giant ITC has called a board meeting on September 21 2001, to consider a merger with its paperboard subsidiary, ITC Bhadrachalam. The proposed merger is expected to bring synergies in ITC’s operations as the company uses part of the paper and paperboard manufactured by ITC Bhadra.

ITC: Double whammy

Sep 6, 2001

Cigarette demand continues to remain weak. Volumes in the first four months of FY02 (April-July 2001) have fallen by an estimated 8% YoY. The domestic industry is suffering from the double whammy of increased contraband cigarette sales and steep price hikes due to excise duty pressure. ITC being the industry leader continues to be under pressure as a result.

ITC: At the crossroads

Jul 20, 2001

ITC has recorded a net profit growth of 21% YoY in 1QFY02 to Rs 3,007 m. Net Sales for the quarter ended June 30, 2001 were up 4% and stood at Rs 10,479 m. Other income for the quarter was up a significant 49% to Rs 264 m.

ITC FY01: Volume concerns

May 30, 2001

Tobacco major, ITC Limited, has declared a 27% growth in bottomline in FY01, backed by a 9.4% growth in net turnover. The performance was more or less in line with our expectations.

ITC: Catch-22 situation

May 29, 2001

ITC is set to declare FY01 results tomorrow. The results gain importance as the company’s prospects have come under a cloud following reports of falling volumes in its cash cow cigarette business. We take a look.

VST: Days of glory

Feb 14, 2001

Yet another company has attracted the corporate raiders attention. This time it is the Hyderabad-based VST Industries (VST). VST manufactures and distributes cigarettes sold under the brand names "Charminar" & "Charms”. The company commands a 13% share of the Rs 80 bn domestic market. Cigarettes account for nearly 93% of its turnover while unmanufactured and cut tobacco accounts for the rest. The company is the largest exporter of cigarettes to the Middle East from India.

ITC: Union bill pros and cons

Feb 8, 2001

The Union Cabinet has approved introduction of a bill seeking to prohibit tobacco advertising (in sports and cultural events), sale of tobacco products to minors and also smoking in public places. Let’s analyse what this bill holds for tobacco major and market leader ITC Limited.


Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2020
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

MARKET STATS