FMCG big ITC, which is scheduled to declare its monetary outcomes for Q2 FY24 on October 19, is anticipated to submit as much as 10 per cent soar in its internet revenue for the September 2023 quarter. Cigarette gross sales, FMCG value hikes, and lodge demand may have led the revenue progress.
Brokerage agency Kotak Institutional Equities expects ITC to submit 8.4 per cent yr-on-yr soar in standalone revenue to Rs 4,843 crore. It additionally expects income rising 4.6 per cent YoY to Rs 16,870 crore. ITC can also be anticipated to register an Ebitda margin of 37 per cent.
According to a Moneycontrol report citing imply consensus of 4 brokerage estimates, ITC Ltd’s Q2FY24 internet revenue is more likely to are available at Rs 4,889 crore for the July-September 2023 quarter. Its standalone income might develop 4.6 per cent YoY to Rs 17,216 crore. The firm’s working revenue margins are more likely to rise reasonably, by 68 foundation factors YoY to 37 %.
“We estimate 5 per cent YoY growth in cigarette volumes, translating into 10 per cent/8 per cent YoY growth in gross/net cigarette sales (versus 13 per cent/11 per cent gross/net growth in Q1). We expect cigarette EBIT growth of 8 per cent in line with revenue growth (akin to Q1),” Kotak Institutional Equities mentioned.
Another brokerage home BOB Capital Markets mentioned ITC is more likely to log excessive-single-digit quantity progress in cigarettes with sturdy double-digit progress and margin enlargement within the FMCG phase.”
It added that resorts ought to proceed to carry out nicely led by increased occupancy and RevPAR, the brokerage mentioned including that the paper and paperboard enterprise might carry out nicely on each the expansion and margin fronts, even because the income from the agri enterprise might stay subdued.
BOB Capital Markets expects adjusted revenue for ITC to leap 11.2 per cent YoY to Rs 5,138 crore. Sales are seen rising 3.9 per cent YoY to Rs 17,771.60. Margin is seen at 38.7 per cent in opposition to 38.9 per cent in June quarter and 34 per cent within the yr-in the past quarter.
Another brokerage agency Sharekhan in its report mentioned ITC’s cigarette enterprise income may rise 9 per cent YoY, aided by 5-6 per cent quantity progress. The non-cigarette FMCG enterprise is more likely to develop 15 per cent YoY.
Sharekhan expects ITC’s adjusted PAT at Rs 4,793 crore, up 7.3 per cent. The firm’s gross sales are more likely to rise 1.2 per cent YoY to Rs 16,326 crore. JM Financial sees revenue at Rs 4,847 crore, up 8.5 per cent.
