ITC Limited
Q1 FY 2011 RESULTS
COMPARISON
NON CONSOLIDATED FIGURES
ITC has declared the results of Q1 FY2011. These are compared with the previous Quarter (Q4 FY2010), with the corresponding Quarter (Q4 FY2010) and proportionately with the full year of FY2010 below :
Net Sales is Rs.4817 Cr – down by 4.7% from Q4 FY2010(Rs.5054 Cr) – but up by 18% from Q1 FY2010 (Rs.4083 Cr) – and up by 6.1 proportionately from FY2010 (Rs.18153 Cr).
Total Expenditure is Rs.3369.93 Cr – down by 8.1% from Q4 FY2010 (Rs.3667.51 Cr) – but up by 16.3% from Q1 FY2010 (Rs.2897Cr) – and up by 6.2% from FY2010 (Rs.12688 Cr).
Net Profit is Rs.1070 Cr – up by 4.1% from Q4 FY2010 (Rs.1028 Cr) – up by 21.8% from Q1 FY2010 (Rs.879 Cr) – and up by 5.4% from FY2010 (Rs.4061 Cr).
Basic EPS is Rs.2.8 – compared to Rs.2.71 in Q4 FY2010, Rs.2.33 in Q1 FY2010, and Rs.10.73 in FY2010. Thus, there is a small increase in EPS, which may translate to annual EPS of around Rs.12 against the Face value of the share of Rs.1.
BONUS SHARES : The company Board has recommended the Issue of Bonus Shares in the proportion of 1 (One) Bonus Share of Re. 1/- (Rupee One) each for every existing 1 (One) fullly paid-up Ordinary Share of Re. 1/- (Rupee One) each.
PE RATIO : The current price of the share is rs.300. At the estimated EPS of around Rs.12, the PE ratio is 25.Looking at the company’s Growth Plans, the company can be expected to clock Better profits and EPS in coming Quarters.
NEWS FROM THE COMPANY
HIGH LIGHTS OF Q1 FY 2011
Profits from Operations : +19.6%
Pre-Tax Profits : +19.2%
Post Tax Profits : +21.8%
• Operating Profits from Non-Cigarette businesses grow 38% (Rs.265 crores in Jun ’10 from Rs.192 crores in Jun ‘09).
• Robust performance by Non-Cigarette FMCG businesses. Segment revenues up 32.2% with improved profitability.
• Agri Business delivers strong performance with Segment revenues up 43.5% on the back of higher sales of Soya, Leaf Tobacco and Wheat.
• Recovery continues in the Hotels segment with revenues and profits growing by 21% and 26% respectively.
• Strong showing by Paperboards, Paper and Packaging businesses, leveraging recent investments in Paper and Pulp capacities. Segment revenues and profits up 13% and 48% respectively.
• ITC completes a 100 years on August 24, 2010.
HIGH LIGHTS OF FY 2100
Profits from Operations : + 26 %
Pre-Tax Profits : + 25 %
Post Tax Profits : + 24 %
Pre-Tax Profits : + 25 %
Post Tax Profits : + 24 %
• Q4 Pre-tax profit of Rs.1505 crores and Post-tax profit of Rs.1028 crores represent a growth of 26% and 27% respectively.
· Non-cigarette FMCG segment registers robust revenue growth of 34% in Q4.
• Board recommends total Dividend of Rs.10/- per share for 2009/10 including a special Centenary Dividend of Rs. 5.50 per share.
• Paper and Pulp investments leveraged to improve value capture and margins. Segment results grow by 35%.
• Agri business profits up 70%.
• Sequential improvement in Hotels business revenues and profits, with growth of 16% and 10% respectively in Q4, reversing the de-growth of the first 3 Quarters of the year.
• Personal Care business launched the ‘Fiama Di Wills’ Transparent Gel bar which was voted ‘Product of the Year’ in the soaps category based on a survey conducted by AC Nielsen.
• The ‘ITC Royal Gardenia’ was launched in Bengaluru. It is the world’s largest and Asia’s first LEED Platinum rated hotel.
• ITC's Sustainability Report 2009 was adjudged one of the best reports globally in the 'Carbon Disclosure' category by CRRA'10 (Corporate Responsibility Reporting Awards '10).
RESULTS IN FIGURES:
Jun-10 | Mar-10 | dif%1 | Jun-09 | dif%2 | dif%3 | ||
Net Sales | 481663 | 505379 | -4.7 | 408268 | 18 | 1815319 | 6.1 |
Other OptgIncome | 3071 | 7782 | -60.5 | 5024 | -38.9 | 22905 | -46 |
SIT&WIP | -9978 | 20283 | -149 | 5328 | -287 | 17524 | -328 |
Raw Materials | 156853 | 156236 | 0.4 | 133934 | 17.1 | 579796 | 8.2 |
Traded Goods | 32238 | 41329 | -22 | 22932 | 40.6 | 99820 | 29.2 |
Employees Cost | 34192 | 25584 | 33.6 | 28216 | 21.2 | 100277 | 36.4 |
Depreciation | 15968 | 15386 | 3.8 | 15159 | 5.3 | 60871 | 4.9 |
Other Expenditure | 107720 | 107933 | -0.2 | 84149 | 28 | 410502 | 5 |
Total Expenditure | 336993 | 366751 | -8.1 | 289718 | 16.3 | 1268790 | 6.2 |
Profit from Operations | 147741 | 146410 | 0.9 | 123574 | 19.6 | 569434 | 3.8 |
Other Income5 | 9848 | 5920 | 66.4 | 8757 | 12.5 | 37433 | 5.2 |
P B I &EI | 157589 | 152330 | 3.5 | 132331 | 19.1 | 606867 | 3.9 |
Interest6 | 580 | 1851 | -68.7 | 584 | -0.7 | 5336 | -57 |
P A I B B EI | 157009 | 150479 | 4.3 | 131747 | 19.2 | 601531 | 4.4 |
P B T | 157009 | 150479 | 4.3 | 131747 | 19.2 | 601531 | 4.4 |
Tax expense | 49978 | 47657 | 4.9 | 43877 | 13.9 | 195431 | 2.3 |
P A T | 107031 | 102822 | 4.1 | 87870 | 21.8 | 406100 | 5.4 |
Net Profit | 107031 | 102822 | 4.1 | 87870 | 21.8 | 406100 | 5.4 |
Dividend (%) | - | - | - | - | |||
Face Value .Rs | 1 | 1 | 0 | 1 | 0 | 1 | |
Paid Up Equity | 38182 | 38182 | 0 | 37744 | 1.2 | 38182 | |
Reserves | - | - | - | 1362817 | |||
Basic EPS A EI | 2.8 | 2.71 | 3.3 | 2.33 | 20.2 | 10.73 | 4.4 |
Diluted EPS A EI | 2.77 | 2.68 | 3.4 | 2.32 | 19.4 | 10.62 | 4.3 |
Basic EPS B EI | 2.8 | 2.71 | 3.3 | 2.33 | 20.2 | 10.73 | 4.4 |
Diluted EPS B EI | 2.77 | 2.68 | 3.4 | 2.32 | 19.4 | 10.62 | 4.3 |
Publicholding % | 99.63 | 99.61 | 0 | 99.52 | 0.1 | 99.61 |
ANNOUNCEMENTS
TO THE EXCHANGE
22-07-2010 ITC Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 481663 lacs for quarter ending on 30-JUN-2010 against Rs. 408268 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 107031 lacs for the quarter ending on 30-JUN-2010 against Rs. 87870 lacs for the quarter ending on 30-JUN-2009. -
18-06-2010 Itc Limited has informed the Exchange that the Board of Directors of the Company, at its meeting held on June 18, 2010, have recommended the following for the approval of the Members at the Annual General Meeting of the Company convened for July 23, 2010: (1) Issue of Bonus Shares in the proportion of 1 (One) Bonus Share of Re. 1/- (Rupee One) each for every existing 1 (One) fullly paid-up Ordinary Share of Re. 1/- (Rupee One) each. (2) Increase in the Authorised Share Capital of the Company from Rs. 500,00,00,000/- (Rupees Five Hundred Crores) divided into 500,00,00,000 (Five Hundred Crores) Ordinary Shares of Re. 1/- each to Rs. 1,000,00,00,000/- (Rupees One Thousand Crores) divided into 1000,00,00,000 (One Thousand Crores) Ordinary Shares of Re. 1/- each.
21-05-2010 Itc Limited has informed the Exchange that the Board of Directors at its meeting held on May 21, 2010 has recommended a special Centenary dividend of Rs. 5.50 per Ordinary Share of Re. 1/- each and a dividend of Rs. 4.50 per Ordinary Share for the financial year ended March 31, 2010. The dividend, if declared, will be paid on or after July 26, 2010 to those members entitled thereto. -
21-05-2010 ITC Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 1913587 lacs for year ending on 31-MAR-2010 against Rs. 1633233 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 416818 lacs for the year ending on 31-MAR-2010 against Rs. 332459 lacs for the year ending on 31-MAR-2009. -
21-05-2010 ITC Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 1815319 lacs for year ending on 31-MAR-2010 against Rs. 1538811 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 406100 lacs for the year ending on 31-MAR-2010 against Rs. 326359 lacs for the year ending on 31-MAR-2009. -
21-05-2010 ITC Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 505379 lacs for quarter ending on 31-MAR-2010 against Rs. 389181 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 102822 lacs for the quarter ending on 31-MAR-2010 against Rs. 80899 lacs for the quarter ending on 31-MAR-2009.
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