ITC: Non-tobacco on course... - Views on News from Equitymaster

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ITC: Non-tobacco on course...

Jun 1, 2004

Tobacco Major, ITC Limited, finished FY04 on a strong note. The company's net sales were up over 10% and profits up over 16% YoY during the year. The March quarter performance was even more encouraging with 24% net sales growth and nearly 20% net profit growth. However, operating margins dipped significantly during the quarter.

(Rs m) 4QFY03 4QFY04 Change FY03 FY04 Change
Gross sales 28,395 33,070 16.5% 111,945 120,399 7.6%
Net Sales 15,199 18,819 23.8% 58,658 64,704 10.3%
Other Income 601 562 -6.4% 1,696 2,249 32.6%
Expenditure 10,465 13,432 28.4% 37,120 41,099 10.7%
Operating Profit (EBDIT) 4,734 5,388 13.8% 21,538 23,606 9.6%
Operating Profit Margin (%) 31.1% 28.6%   36.7% 36.5%  
Interest (net) 60 82 37.2% 298 248 -16.9%
Depreciation 642 625 -2.5% 2,373 2,416 1.8%
Profit before Tax 4,634 5,243 13.1% 20,562 23,191 12.8%
Tax 1,399 1,372 -2.0% 6,848 7,262 6.0%
Profit after Tax/(Loss) 3,234 3,871 19.7% 13,714 15,929 16.2%
Net profit margin (%) 21.3% 20.6%   23.4% 24.6%  
No. of Shares (m) 247.5 247.7   247.5 247.7  
Diluted Earnings per share (Rs)* 52.2 62.5   55.4 64.3  
P/e ratio (x)   14.5     14.1  
*(annualised)            

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Sep 29, 2020 (Close)

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