reports
- Rohit Dokania
ITC's Q3FY20 results (Neutral) - Muted for cigarettes, FMCG profitabil...
Q3FY20 result highlights Revenues grew by 5.1% yoy to Rs120.1bn (est: Rs122.4bn). EBITDA grew by 6.6% yoy at Rs46.1bn (est: Rs47.4bn). PBT grew by 7.2% yoy to Rs51.7bn (in line), Adj. PAT grew by 33.2% yoy to Rs42.7bn (est: Rs38.6bn) led by lower tax rate. Reported PAT grew by 29% to Rs41.4bn due to Rs1.3bn of exception loss of tobacco leaf due to fire. Cigarette revenues grew by 4.7% yoy (est: 5%). We estimate Cigarette vol grew by ~2% yoy (est: 2%). EBIT grew by 5.6% yoy (est: +7% yoy) wit...
ITC's Q2FY19 results (Outperformer) - Steady quarter... one offs impac...
Q2FY19 result highlights ITC’s net revenues increased by 14.7% yoy to Rs110.9bn (est: Rs106bn). EBITDA grew 11.8% yoy at Rs42bn(est: Rs42bn). PAT increased by 12% yoy to Rs29.5bn (Rs29.5bn). Comparable cigarette revenues grew by 10% yoy. We estimate Cigarette volumes increased by ~5.5% yoy. Cigarette EBIT grew by 8.7% yoy (est: 10.1% yoy) impacted by one off cost related to kerala floods & change in packaging for new graphic health warnings. FMCG sales increased by 13% yoy led by healthy gr...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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