ITC Posts Strong Q4FY23 Results, Revenue Grows 7.3% YoY

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ITC Posts Strong Q4FY23 Results

ITC, India's largest conglomerate, has announced its results for the fourth quarter ended March 31, 2023. The company reported a strong performance across all businesses, with revenue, EBITDA, and PAT all growing YoY.

Revenue for the quarter grew 7.3% YoY to ₹19,058 crore. EBITDA grew 22.7% YoY to ₹7,233.65 crore. PAT grew 22.7% YoY to ₹5,225 crore. EPS grew 22.7% YoY to ₹4.15.

The company's cigarette business continued to be the key driver of growth, with volume growth of 12.8% and EBIT growth of 16.7%. The FMCG business also saw strong growth, with EBIT growth of 111%. The hotels business also reported strong growth, with EBIT growth of 804.6%. The agri business reported a modest growth of 24.7%.

Overall, ITC's Q4FY23 results were a positive sign for the company. The company's core businesses are performing well and the company is continuing to invest in new growth areas. This is likely to lead to continued growth in the coming quarters.

Here are some key takeaways from ITC's Q4FY23 results:


  • Revenue grew 7.3% YoY to ₹19,058 crore.
  • EBITDA grew 22.7% YoY to ₹7,233.65 crore.
  • PAT grew 22.7% YoY to ₹5,225 crore.
  • EPS grew 22.7% YoY to ₹4.15.
  • Final dividend was declared at ₹6.75 per share.
  • Special dividend was declared at ₹2.75 per share.
  • EBIT growth was strong across all businesses, led by cigarettes (16.7%), FMCG (111%), and hotels (804.6%).
  • The agri business reported a modest growth of 24.7%.

Key Drivers of Growth


The key drivers of growth for ITC in Q4FY23 were:

  • Strong volume growth in the cigarette business.
  • Strong growth in the FMCG business, led by the personal care and foods categories.
  • Strong growth in the hotels business, driven by higher occupancy and room rates.
  • Modest growth in the agri business, due to favorable weather conditions.

Outlook


ITC's Q4FY23 results were a positive sign for the company. The company's core businesses are performing well and the company is continuing to invest in new growth areas. This is likely to lead to continued growth in the coming quarters.

The company has set ambitious targets for FY24, including revenue growth of 10-12%, EBITDA growth of 15-17%, and PAT growth of 18-20%. The company is confident of achieving these targets, given the strong momentum in its businesses.

ITC is well-positioned to benefit from the growth of the Indian economy. The company has a strong portfolio of businesses, a diversified customer base, and a robust distribution network. ITC is also committed to investing in new growth areas, such as e-commerce and digital payments. This will help the company to sustain its growth momentum in the coming years.

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