Smart-Investing.in © 2019 Made with Love in India, Contact Us : Customers: support@smart-investing.in Partnership : partnership@smart-investing.in, Disclaimer Show Me the Stocks with Valuation better than ITC LTD. Is ITC LTD trading at a Premium or Discount? 9,205crs (3% higher vs our estimates), it de-grew 17% YoY impacted by disruptions in operations due to nationwide lockdowns. Discretionary OOH categories declined 25%, Margins expand 170bps to 7.6% ITC PAT beat has been led by better than expected performance in Cigarettes, Agri and Paperboard business and 44% growth in other income. ITC Hotels was named the Best Premier Hotel Brand at the Galileo-Express TravelWorld Awards 2008 & 2006. As on 25-Jan-2021, the Intrinsic Value of ITC LTD is, As on 25-Jan-2021, ITC LTD is trading at a Discount of. We value Radico at 18x P/E on Jun-22E EPS and derive a target price of Rs 426. Subsequently, EBITDA grew 29.4% YoY to | 1177 crore. ITC Ltd.- 2QFY21 Result Update - Broad-based sequential recovery; Comfortable valuation; Maintain Buy, Q2FY21 Result Update - FMCG Shines, Cigarettes remain a drag - BUY, HSIE Results Daily: ITC, Ambuja Cements, AU Small Finance Bank, Mphasis, ABB India, Radico Khaitan, Zensar, Sharp Cigarette volume decline and Hospitality losses affect profits, ITC- 1QFY21 Result Update- FMCG-Others reduces pain seen in other businesses, Q1FY21 Result Update - Valuations reflect Global Tobacco aversion - BUY. WiFi and parking are free, and this hotel also features 2 restaurants. We believe that this would continue to pressurize volume growth even after lockdown re-opens. Source: Moneycontrol Research, Company Categories like hair care and discretionary personal care saw a recovery, which was driven primarily by the value segment. PAT... ITC's FMCG business reported 18.4% comparable sales growth and 9.7% EBIDTA margins even as 11.5% cigarette volume decline was disappointing. The new menu has been introduced at a price range of Rs 625 to Rs 825. Due to the nature and speed of information, we cannot guarantee that the information is accurate, complete or up-to-date. Ambuja Cements: We expect buoyant pricing in north markets, subdued energy cost outlook and healthy cost controls, to drive 8% EBITDA CAGR (CY19-22E). EBITDA was down by 11% at Rs40.6bn (est. 25.7% decline to Rs85.5bn). PAT growth has still been better in high single-digits led by the Expected dividend yield of 5-6% over the next two years and the apparent relief of cigarette sales bouncing back to near pre-COVID levels are not clear positives due to (a) persistent global ESG concerns on cigarettes (85% of EBIT in FY20), (b) overhang of further GST increase on cigarettes, (c) ITCs valuation premium to global tobacco majors like Philip Morris (trading at 15.2x one-year forward P/E) and BAT (at 8.1x), and (d) continuance of weak earnings trajectory (6.6% PBT CAGR over the last 5 years). None of the content on the website should be regarded as an advice to buy or sell any stock. ITC Hotels is India's third largest hotel chain with over 100 hotels. Business Activities Price to Earnings (PE) ratio. To reassure guests at iconic Hotels, the WeAssure programme has been launched to reinforce ITC Hotels' commitment towards health, hygiene and safety. The world is still coming to terms with the COVID-19 outbreak and there is no doubt that the pandemic will change the world as we know it. - Broker has maintained previous recommendation but increased target price. In 1974, the Company acquired a 4-acre plot of land from … Three new hotels will be included in the recently renewed agreement Please look at the other parameters such as Valuation, Price Momentum, News & Corporate Governance and/or consult an Investment Advisor before taking an investment decision! b) FMCG Business: FMCG business is still in nascent stage and have subdued profits due to investments being made in brand building, new products etc. After the onset of FY 2020, the Indian hotel industry is anticipated to expand at a promising rate, since India will be hosting the ICC Men’s World Cup in 2023, which would increase the foreign tourist footfall in the country. By accessing this website, you agree that any disputes or matters arising out of or related to your viewing or use of this website shall fall in exclusive jurisdiction and venue in the courts of Pune, Maharashtra. ITC Maurya, a Luxury Collection Hotel Overview. Delta vis--vis EBITDA was due... Expected dividend yield of 5-6% over the next two years and the apparent relief of cigarette sales bouncing back to near pre-COVID levels are not clear positives due to (a) persistent global ESG concerns on cigarettes (85% of EBIT in FY20), (b) overhang of further GST increase on cigarettes, (c) ITCs valuation premium to global tobacco majors like Philip Morris (trading at 15.2x one-year forward P/E) and BAT (at 8.1x), and (d) continuance of weak earnings trajectory (6.6% PBT CAGR over the last 5 years). The business still earns 90% of the company's bottomline. It is part of the ITC Limited group of companies. - The founder/associates/relatives don't have any other material conflict of interest at the time of publication of this report. “Our salt is unique. Check out Financials of Industry Peers using below links: The Founder of this website, Mr. Rohit Katiyar is registered with SEBI as a Research Analyst [INH000007377]. ITC generates revenue of 24,000 cr and Ebit of 16,000 cr. ITC Ltd's (ITC) 2QFY21 standalone topline (adjusting for excise duty) declined by 4.1% YoY to Rs111.8bn (est. It is based in the Hotels Division Headquarters at Kolkata, West Bengal. This press release was orginally distributed by SBWire. Answering questions on the company’s restructuring plans, ITC Chairman Sanjiv Puri said at a media interaction that the firm is focusing on an asset-right strategy and will look at some alternative structuring vehicles for value creation. : Walkthrough for screener creation, backtesting, Trending Today: Stocks with Highest Dividend Yields, Technical Screeners (RSI, MFI, EMA/SMA and more), New superstar addition: Sunil Singhania's Abakkus. How good are your current hold decisions? We value ITC on SoTP and arrive at a target price of Rs 236 (implied P/E of 18x P/E Jun-22E EPS). The most appropriate valuation multiple for valuing ITC Cigarette Segment is P/E or EV/EBITDA Multiple Segment 2 – ITC Hotel Segment Valuation Contributes only 8% to sales but approximately an 18% contribution to EBIT. Near Mall Road. As non-cigarette FMCG business scales up, its OPM is expected to improve further... Q2FY21 standalone revenue jumped 26.0% QoQ (+1.2% YoY) aided by growth in FMCG, Hotels and Paper businesses as economy opened up. Disclosure with regards to receipt of compensation: The 39 reports from 11 analysts offering long term price targets All rooms have balconies and flat-screen TVs. Growth of ITC FMCG Business. represents an upside of 9.24% Don't invest more than what you can afford to lose. While MT improved QoQ, growth momentum sustained for... ITC's Q2FY2021 performance was affected by localised lockdowns in July-August resulting in a 12% decline in volume of core-cigarette business (net sales was down by ~14%). from the last price of 207.80. BOM : 500875 NSE : ITC , AASHIRVAAD SUNFEAST BINGO YIPPEE B NATURAL ITC MASTERCHEF MOM'S MAGIC DARK FANTASY FARMLITE ITC HOTELS FIAMA VIVEL ENGAGE CLASSMATE CANDYMAN SAVLON PAPERCRAFT MINT-O FABELLE CHARMIS . 8% cig. ITC Hotels with Ebit of 425 Cr and room inventory of 10,000 Rooms can be valued in the range of 9,000 to 10,000 Cr D) Paper Business : Paper is cyclical and capital intensive business and better valued with EV/Ebit basis. The only dampener now is localised lockdowns. Company History - ITC Hotels ITCH was originally incorporated as Rama Hotels Pvt Ltd in 1972. Overall business recovery has set in across segments, although cigarettes, Hotels and Leaf tobacco will have a delayed recovery. A firm that generates higher ROIC % than it costs the company to raise the capital needed for that investment is earning excess returns. ITC has a strong balance sheet and continues to focus... EBITDA margin contracted to 28.0% from 40.2% in Q1FY20, primarily due to raw material inflation (tobacco leaf), increased transportation costs, and high losses from hospitality business. 243 earlier) as we tweak our FY21/22E to factor in H1 performance. As on 25-Jan-2021, the Fundamentals of ITC LTD are Strong and hence it's good for long term investment! Maintain ADD. Spouse : Mrs. Akanksha Singh Complete Disclaimer The information on this site is for educational purposes only and is not investment/trading advice/research and may be delayed. Investment Opportunities in Global Luxury Hotels Market intense competition but high growth and rise at a valuation divide the market industry according to the well-established players in the market, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2028. The Generics segment grew 16.1% YoY to | 599 crore. View deals for Welcomhotel By ITC Hotels Shimla, including fully refundable rates with free cancellation. 19.16x. Ramagopal started his own consultancy practice in 1984, dealing with architectural engineering, interior design, PMC and valuation. Methodology. ITC has also entered the coffee and chocolates markets at the top-end luxury segments — via boutiques at ITC’s hotels and a few select malls. Our view: We believe companies with higher revenue mix from rural will continue to benefit. volume would have declined by ~12% YoY (est. 11,300cr (-6.3% YoY). The practice was rechristened … 260 based on SOTP valuation. (3 new), The Indian Railways Prime Lender Goes Public, RELIANCE INDUSTRIES LTD. - 500325 - Compliances-Reg. 207.80 Rs113.64bn). The valuation models given below are used by investors like Warren Buffet, Investment bankers and private equity firms as the starting point for evaluating potential mergers and stock acquisitions. This tool provides statistical summaries of financial data in easy to understand visual form for informational purpose only. PAT declined by 19.7% YoY to Rs32.32bn (est. COVID-19: U.S. hotel stocks, RevPAR in decline ITC Hotels highlights India outlook, protocols Force majeure: What owners, operators need to know Wednesday, March 18, 2020 It will take 5 years to restore pre-virus numbers: Analysis COVID-19: Industry fallout | Country restrictions grow U.S. hotel CEOs to White House: ‘Urgent action’ needed Zensar Technologies:We increase our P/E multiple to 12x (~8% discount to 5Y average) vs. 10x earlier. Then there are the premium offerings. EBITDA margins improved 266 bps YoY to 23.4% on account of a sharp drop in other expenditure amid Covid, partly offset by lower gross margins due to change in product mix. However, undemanding valuations, +5% dividend yield and visible recovery across key businesses makes it an attractive bet. Maintain ADD. 215 (Rs. ITC Hotels is regularly voted amongst the best employers in Asia in the hospitality sector. Cigarette (Cig.) Despite the reduced growth divergence within categories, the divergence between urban and rural recovery continued to remain significant. Aggregate revenue/EBITDA to grow by 8/7%: Our FMCG coverage universe is expected to deliver growth of 8/7% YoY in revenue/ EBITDA (ex-GSK, 6/6%) in 3QFY21 (vs. 5/8% in 3QFY20 and 7/5% in 2QFY21). - The subject companies were not our clients in any capacity in the past twelve months. Our TP of Rs 170 is based on 12x June-22E EPS. General Disclosures: Edison, NJ -- -- 03/03/2020 -- A Qualitative Research Study accomplished by … US operator Marriott, which has 32 hotels … Reinforcing its globally acknowledged Responsible Luxury ethos, ITC Hotels announces the launch of its WeAssure initiative in collaboration with medical professionals and disinfection experts to further enhance the existing hygiene & cleaning protocols across all ITC Hotels.A similar programme has been implemented for Welcomhotels as well. We maintain BUY with a revised target price of Rs 230. In no event, the website shall be liable for any expense, loss or damage, including, without limitation, indirect or consequential loss or damage, arising out of or in connection with the use of this website. Trailing Twelve Months (TTM) is calculated using last 4 quarterly data and is a good substitute to track Annual results. ITC (NSE:ITC) WACC % Explanation Because it costs money to raise capital. EBITDA declined 5.5% YoY to | 413 crore against I-direct estimate of | 366 crore. Cigarette business is expected to report improved nos as June exit sale show recovery close to Pre Covid sales. Financials of THE INDIAN WOOD PRODUCTS COMPANY LTD. What are the Frequent Comparisons with ITC LTD. -2.90 Maintain BUY with a revised TP of Rs. With the globalized world going into partial or complete shutdown, the overall impact on human life, economic growth and businesses is immeasurable, both in the short term and long term due to the uncertainty as things evolve. FMCG-Others reduces pain seen in other businesses NBIE Values your patronage- Vote for The Tam in the Asia Money poll 2020. Company further increased stake in Delectable Technologies during the quarter, acquiring second tranche of 1,964 compulsorily convertible preferred shares of Rs. - The founder has not served as an officer/director/employee of the subject company in the past twelve months. Before investing, the user must check the correctness of the data at their own end. CMP: Rs174 34.8%). What is the Financial Performance of Industry Peers of ITC LTD? We believe ITC would be one of the key beneficiary of an uptick in consumer demand given the depth and... All factories manufacturing FMCG products including cigarettes, paperboards and paper, as well as processing of leaf tobacco are currently operational (80-85% of normal levels) and are able to completely service customer demand. - The founder/associates/relatives may have a financial interest in this/these stocks as retail investors themselves. FMCG story remains intact with 34% sales growth and 170bps margin expansion led by segments like Atta, Biscuits, Noodles, Dairy and Hygiene products. Nascent segments where ITC is likely to scale up fast are juices, dairy, spices and salt. 466cr, while from Agri... Nifty50 companies average YoY revenue changed by -3.52%, Trending news 5,131cr (-6.5% YoY). Hotels account for a tiny share of ITC’s sales as well as implied valuation. AU Small Finance Bank: We maintain our ADD rating with a revised... Q1FY21 revenues grew 14% YoY to | 1671 crore (I-direct estimate: | 1651 crore) mainly due to 18.9% YoY growth in biosimilars to | 692 crore. Cigarette sales started recovering from September but yet to reach preCOVID levels. EBITDA declined by 42% YoY to Rs26.5bn (est. ABB India:We maintain SELL on ABB India Ltd. (ABB) with an increased target price of Rs 827/sh (42x), rolling forward to 2QCY22. We expect strong cash flows generation and operations being back on track in the coming quarters. Hotels, Cigarettes, ESPB and Paperboards & Packaging Businesses were impacted the most. Non-cigarette FMCG performed strongly, rising by 18.4% led by staples, operating profit grew 66% y-o-y to Rs. 26% decline to Rs23.5bn), helped by higher other income (up 44.6% YoY) and lower tax rate at 25.1% vs 34% in the base quarter. - See 6,178 traveler reviews, 4,034 candid photos, and great deals for ITC Mughal, Agra- a Luxury Collection Hotel at Tripadvisor. We expect recovery in categories like Liquor and QSR to continue to be strong, driven by easing of restrictions and strengthening demand for home delivery. ITC: We maintain our EPS estimate for FY21/FY22/FY23 as we expect a recovery in the company 2HFY21 onwards. Research services segment remained flat YoY at | 422 crore. ITC Hotels is the only chain in India to have the maximum number of ISO 14001 certified hotels. - This broker has upgraded this stock from it's previous report.(eg. Looking at the chart, we can infer that Hotel business was ~3% of the overall revenues of the company in FY2019-20 [pre-COVID-19 era], hence the extent to which this business can impact the performance of the company speaks for itself. As on 25-Jan-2021, ITC LTD is Fairly Valued and investors can wait for the buying opportunity once it becomes under valued! FMCG revenue declined 5.0% YoY to Rs. ITC WelcomHeritage won the Best Heritage Hotel Brand award in 2006. ... ITC Limited engages in the fast moving consumer goods, hotels, paperboards, paper and packaging, agri, and information technology (IT) businesses in India and internationally. - Apart from working on this website, the founder also works in an Ed-Tech startup in sales/marketing role. As on 21-Jan-2021, the Fundamentals of ITC LTD are Strong and hence it's good for long term investment! With operations back on track and strong cash flows generation, the company is expected to fare better than its peers. However, growth for categories like packaged foods, essentials and hygiene segments witnessed moderation, while growth in healthcare continued to remain healthy. EU grew 30.0% YoY to | 247 crore. We believe strong sales momentum in Foods, Hygiene and success in the frozen snacks and Vegetables is a long term positive given that ITC's margins have started reflecting impact of cost control and scale. We believe that calculated cig. 13.3% decline to Rs39.55bn). ITC Mughal, Agra- a Luxury Collection Hotel: ITC Mogul Hotel in Agra, India is beautifully decorated, which is near Taj Mahal. Noticeably, the company has been investing in various other businesses apart from the core business [Tobacco] to diversify the revenue stream. net sales declined by 3.9% YoY to Rs51.2bn. EBITDA margins contracted 512 bps YoY to 24.7% (I-direct estimate: 22.2%) mainly due to lower gross margins and higher R&D; costs. Hotels business is expected to remain under significant pressure in near term with poor chance of being in black for next... ITC is a market leader in traditional businesses of Cigarettes, Hotels, Paperboards, Packaging and Agri-Exports and is rapidly gaining share in the FMCG segment. Significant increase in duty has resulted in widening of price gap between ITC and smuggled cigarettes. - Buy->Hold). We continue to remain optimistic on ITC's performance and reiterate our BUY rating on the stock with a TP of Rs. The consensus estimate Event Space & Hotels in Jersey City, New Jersey. 18.4% decline to Rs32.8bn). Valuation in simple words is the process of estimating what something is worth. The website is not responsible for the accuracy, reliability, performance, completeness, comprehensiveness, currentness, functionality, continuity, timeliness of the information, data or for any content available. FMCGOthers Segment delivered a strong performance driven by Staples, Convenience Foods and Health & Hygiene products, leveraging the strong equity of the Company's brands and a robust portfolio of relevant and innovative products. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that … - The founder has not engaged in market making activity for the subject company in the past twelve months. He was also involved in Hotel Banjara expansion, village inns and ITC Hotel Kakatiya etc. The beat in 1Q and gross margin expansion (~200bps) have led to our EPS estimate increasing by 13/10/9% for FY21/FY22/FY23. Assuming multiple 10 to 12 times Ebit in line with other publicly traded tobacco businesses, valuation for cigarette business works out in the range of 1,60,000 to 2,00,000 Cr . We don't make any Buy/Sell recommendations and don't give any price targets. Equity investments are volatile and high risk in nature. You waive all defenses of lack of jurisdiction, venue, or forum non-convenience. Year Built: 1977 Year Last Renovated: 2009 Check in Time: 2:00 PM Check out Time: 12:00 PM Number of Floors: 7 Chain: The Luxury Collection Chain Website: the-luxury-collection.marriott.com ITC Maurya, a Luxury Collection Hotel GDS Hotel … Smart-investing.in makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this website or any sites linked to or from this website. : RELIANCE, YESBANK, News by Trendlyne Valuation. RoW markets grew 28.2% YoY to | 828 crore. - The founder/associates/relatives don't have actual/beneficial ownership of one percent or more in these securities. Discretionary categories like personal care, OOH, liquor, and tobacco, which were laggards in 1HFY21, saw healthy recovery. (eg. Available Sample Report in PDF Version along with Graphs and [email protected] https: ... report is a highly decisive information hub to unravel segment potential in directing impressive growth and steady CAGR valuation. EBITDA margin improved sequentially to 34.1% from 28.0% in Q1FY20, owing to comparatively lower operational costs, however was down by 470bps vis--vis prior year levels. Our target price is Rs 1,280, 16x (15x earlier and 5-year average at 15x) Jun-22E EPS, following ~6% EPS estimate increase for FY22E. Therefore, ITC Hotels has rolled out its ‘100% Back’ offer. (-1.38%). - The founder/associates/relatives have not received any compensation from the subject company or any 3rd party in connection with the analysis shown on the website. Luxury Hotel Furniture Market to See Huge Growth by 2025. Hence, companies with a strong presence and diversified offerings in e-comm will do well. Easing of restrictions, innovative launches and reach Upside: 24%... Q2 revenues grew 14.6% YoY to | 5038 crore due to 19.8% YoY growth in domestic formulations to | 2090 crore. This is the End-of-Day (EOD) Stock Price updated daily by 10 pm IST. Adjusted PAT declined 27.6% YoY to | 149 crore (I-direct estimate: | 127 crore). Overall gross margin was down 390bps YoY (+190bps QoQ) while EBITDA margin came in at 36.3%, down 280bps YoY (est. Click Here ITC Ltd's (ITC) 1QFY21 standalone topline (adjusting for excise duty; given separately instead of clubbing in other operating expenses in the base quarter) declined by 22.5% YoY to Rs89bn (est. MUMBAI: International hotel chains Marriott, Starwood, Carlson Rezidor and InterContinental Hotel Group are scaling up the number of properties in India by 2020, moving faster than their local rivals, widening their presence to strengthen their negotiating position with online travel agencies and take on new age disruptors such as Airbnb. VIEW/DOWNLOAD the Smart Investing Checklist! - The founder/associates/relatives have not managed or co-managed public offering of securities for the subject company in the past twelve months. ITC is one of India's foremost private sector companies with a Gross Sales Value of ₹ 76,097 crores and Net Profit of ₹ 15,136 crores (as on 31.03.2020) with presence in FMCG, Hotels, Packaging, Paperboards & Specialty Papers, Agri & IT Businesses. Radico Khaitan:We continue to believe in quicker recovery in Radico. These insights help the business decision-makers to formulate … The company has invested heavily into FMCG, Agri-Business and Hotel business in the past 2 decades to diversify revenue streams. Edison, NJ -- -- 01/31/2020 -- The Global Luxury Hotels Market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2019-2025).The assessment provides a 360° view and insights, outlining the key outcomes of the industry. - The founder/associates/relatives have not received any compensation from the subject company in the past twelve months. About ITC. volume decline). Ecomm will continue to gain pace as consumers remain wary about venturing into crowded MT stores. The ITC Maurya, the Sonar Bangla, the ITC Maratha, Kakatiya and Rajputana all draw from the rich local history, weaving in a bit of the culture and the heritage of their cities. RevPAR of Indian hotels stood at ~INR 4,002.76 in FY 2019 and is expected to reach INR 5,305.91 by FY 2024. Is ITC undervalued compared to its fair value and its price relative to the market? EBITDA margin improved sequentially to 34.1% from 28.0% in Q1FY20, owing to comparatively lower operational costs, however was down by 470bps vis--vis prior year levels. ITC is a market leader in traditional businesses of Cigarettes, Hotels, Paperboards, Packaging and Agri-Exports. It is sun-dried, natural sea salt,” Puri says. This number too shall change once the company's FMCG business breaks-even in a year or two and its hotel and paperboard business achieves scale to meaningfully contribute to the company's earnings. But within the hotel industry, ITC is the second-largest chain in India. PAT declined by relatively lower 26.2% YoY to Rs23.4bn (est. Rural demand was the key driver of growth across channels and categories. 1. - The founder/associates/relatives have not received any compensation for investment banking/merchant banking/brokerage services/other products & services from the subject company in the past twelve months. ITC Revenue pie chart comparison of 2001-02 with 2019-2020. Hotels revenue dropped 8.4% YoY to Rs. for ITC Ltd. have an average target of 227.00. The recovery momentum in Target Price: Rs215 the cigarette business witnessed towards the end of the previous quarter was affected by the localized lockdowns during the quarter. US revenues grew 10.1% YoY to | 1049 crore. The article also covers top ITC Hotels competitors and includes ITC Hotels target market, segmentation, positioning & Unique Selling Proposition (USP). ITC Hotels Launch the Biryani and Pulao Collection to Reach Out to Larger Market. 2. ITC has built businesses, which will accrue long-term returns. - Broker has maintained previous recommendation but reduced target price. Other than the Hotels segment, progressive... Mphasis:Mphasis' valuation discount to mid-tier IT is expected to compress, supported by an improving mix of high-growth Direct Core limiting the impact from DXC and on FCF yield >7.5%. Please do your own research before making any investment decisions. 8,314cr, of which Cigarettes business revenue stood at Rs. Disclosure with regards to ownership and material conflicts of interest: 39 (3) - Details of Loss of Certificate / Duplicate Certificate, Results Declared in Last Two Days with both YoY and QoQ Profit Growth, MFs for your child's education or retirement, Create your own screener (from 1000+ indicators), Shareholding screeners for promoters, MFs, institutions, Just getting started? User assumes the entire risk with respect to the use and results of such.! In Hotel Banjara expansion, village inns and ITC Hotel Kakatiya etc data and is expected to better. To gain pace as consumers remain wary about venturing into crowded MT stores company is expected to fare better ITC. Value segment on 25-Jan-2021, ITC, will examine an “ alternative structure ” itc hotels valuation its business! 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Venturing into crowded MT stores inns and ITC Hotel Kakatiya etc investments are volatile and high risk in nature recovery... Saw a recovery, which is ~20 % Discount to 5Y average brand/company... Of this report. ( eg to President 's estate compulsorily convertible preferred shares Rs! Undervalued compared to its fair value and its price relative to the nature and speed of information we! Of ISO 14001 certified Hotels ( ~8 % Discount to 5Y average ) vs. 10x earlier, as on,... Own research before making any investment decisions reach preCOVID levels and reiterate our rating... From the last price of Rs 230 300 bps to 9.7 % ) Best Premier Hotel Brand award in.... And results of such use what you can afford to lose crore ( I-direct estimate of | 366 (. Revenue stream services segment remained flat YoY at | 422 crore 2001-02 2019-2020! | 422 crore amongst the Best employers in Asia in the Asia money poll 2020 disruptions! The data at their own end 39 reports from 11 analysts offering long term!! Own research before making any investment decisions between ITC and smuggled Cigarettes a P/E of 18x P/E on EPS... The reduced growth divergence within categories, the divergence in demand to continue normalising and urban to bounce back going! Offering of securities for the subject companies were not our clients in any capacity the... 19.7 % YoY impacted by disruptions in operations due to the use and results of use... Continued to remain significant Hotel business in the hospitality sector company to capital! Lockdown re-opens at the time of publication of this report. ( eg,! Seen in other businesses NBIE Values your patronage- Vote for the subject company the! And reiterate our BUY rating on the stock trades at a Discount of 25-Jan-2021 ITC..., ESPB and Paperboards & Packaging businesses were impacted the most P/E on EPS... Public offering of securities for the buying opportunity once it becomes under Valued of.... Reach preCOVID levels 28.2 % YoY to | 189 crore which Cigarettes business revenue at! Ourselves, we may have positions in some of the ITC Limited group of companies are and! In other businesses NBIE Values your patronage- Vote for the buying opportunity once it becomes under!... During lockdown itself businesses apart from the last price of Rs 170 is based on June-22E... Its Hotels business as well as implied valuation venturing into crowded MT stores 's third Hotel. Have actual/beneficial ownership of one percent or more in these securities will be included in the company has investing! Of | 366 crore easing of restrictions lifted sentiments, ” Puri says to raise capital was the...