Thread by @blitzkreigm

ITC Q4FY21: Appears Largely in Line
Sharp Bump Up in Revenue Led By Agri Business
Revenue 13295 Cr vs Poll 12200 Cr
EBITDA 4473 Cr vs Poll 4585 Cr
PAT 3748 Cr vs Poll 3765 Cr

Cigarette Rev +14.2%, EBIT +7.7%
Volumes largely in line b/w 7-8%
FMCG Revenue +15.8%
#FMCGisLife #ITC

ITC Q4FY21 YoY
Tobacco, FMCG & Hotels Largely As Expected
Co announces 5.75/sh as Dividend
#FMCGisLife #ITC

TOBACCO BUSINESS
Cigarette Volume Appears in Line with 7-8% Est; Exact Number Awaited
Tobacco EBIT +7.7%, below expectations of >10% Growth
Tobacco EBIT Margins slip 300 Bps YoY
#FMCGisLife #ITC

ITC Q4FY21: FMCG OTHERS
Revenue Growth In Line with 15-17% expectations
Margins +50 Bps vs ~100 bps expansion expected
#FMCGisLife #ITC

ITC Q4FY21: HOTELS
Revenue +22% QoQ as Things Opened Up
However, still -38% YoY on slow recovery
Continues to make EBIT Loss
Q1 likely to be even worse due to fresh lock downs
#FMCGisLife #ITC

AGRI TRADING
Sharp Spike in Revenues both, QoQ and YoY
Margins more important in this vertical as it's a trading business
Margins -100 bps YoY, -200 Bps QoQ
#FMCGisLife #ITC

ITC Q4FY21: PAPERBOARDS
Segment Does Well As Things Improve
Growth at 13.5% better than 8-10% expected improvement
#FMCGisLife #ITC

ITC: MGMNT COMMENTARY ON KEY VERTICALS

FMCG
Q4 EBITDA +36%; Margins +115 Bps
Discretionary/’out-of-home’ categories; sales up 23%
Staples, Convenience Foods and Health & Hygiene sales up 13%
Continued closure of educational institutions impact ESPB performance

#FMCGisLife #ITC

ITC MGMNT COMMENTARY ON Q4

TOBACCO
- Business recovered progressively to reach near pre-Covid levels towards the close of the year
- Expanded presence in strategic markets with the launch of differentiated offerings

#FMCGisLife #ITC

ITC: Q4 MGMNT COMMENTARY

AGRI SEGMENT:
Wheat, rice, oilseeds, exports of value-added food safe spices and higher supplies to support enhanced scale in Branded Packaged Foods Businesses drive growth

HOTELS:
Q4 EBITDA at 25 Cr vs Q3 at break-even

#FMCGisLife #ITC