Thread by @blitzkreigm

ITC Q2FY22: Thread
- Slightly Shy of Expectations, nothing worrisome
- Cigarettes Largely in Line, FMCG Rev below est
- Appears Cig. Volume largely in line with 9-10% est
- Strong 10% EBITDA Margins in FMCG
- Strong Bounce-back by Hotels, Good growth in Paper
#FMCGisLife #ITC 1/n

https://twitter.com/CNBCTV18Live/status/1453379743013691392

ITC Q2FY22
Revenue at 12731 Cr vs Poll 12785 Cr
EBITDA at 4615 Cr vs Poll 4680 Cr
Margins at 36.3% vs Poll 36.3%
PAT at 3697 Cr vs Poll 3725 Cr
#FMCGisLife @ITCCorpCom #ITC @CNBCTV18Live
2/n

ITC Q2FY22
SEGMENTS REVENUE POLL
Tobacco +10% 11-12%
FMCG +3% 7-8%
Hotels +260% 150-200%
Paper +25% 15%
#FMCGisLife #ITC @CNBCTV18Live
3/n

ITC Q2FY22
CO SAYS
- Cigarette exit volumes at near pre-Covid levels
- Faster recovery in cigarette volumes vs first wave
- FMCG EBITDA margins sustained at 10% despite inflation
- Paperboards volumes at record high
- Ecomm at 7% of sales
#FMCGisLife #ITC @CNBCTV18Live
4/n

ITC Q2FY22
Stock -12% from highs, at 15X FY23e
Should the stock sell-off on these results? - No
Can it rally? - The Tobacco Tax Body uncertainty may cap gains
#FMCGisLife #ITC @CNBCTV18Live @ITCCorpCom
5/5