ITC Analysis Final

8/8/2019 ITC Analysis Final

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ITC LTD. TECHNICAL ANALYSIS

BY -: GROUP NO : 4 FACULTY :ROF. K.C BOTHRA

RAJDEEP LAHA SUBJECT :

TOCK SIMULATIONABYASACHI BHATTARCHYAOURAV MANNA

ANAY HALDER

TC Limited (BSE: 500875),(NSE: INE154A01025 ) public conglomerate company headquarteredn Kolkata, India. Its turnover is $6 billion and a market capitalization of over $30 Billion. Theompany has its registered office in Kolkata. It started off as the Imperial Tobacco Company,nd shares ancestry with Imperial Tobacco of the United Kingdom, but it is now fullyndependent, and was rechristened to Indian Tobacco Company in 1970 and then to I.T.C.imited in 1974

he company is currently headed by Yogesh Chander Deveshwar. It employs over 26,000eople at more than 60 locations across India and is listed on Forbes 2000. ITC Limitedompleted 100 years on 24 August 2010.

TC has a diversified presence in Cigarettes, Hotels, Paperboards & Specialty Papers, Packaging,gri-Business, Packaged Foods & Confectionery, Information Technology, Branded Apparel,ersonal Care, Stationery, Safety Matches and other FMCG products. While ITC is anutstanding market leader in its traditional businesses of Cigarettes, Hotels, Paperboards,ackaging and Agri-Exports, it is rapidly gaining market share even in its nascent businesses of ackaged Foods & Confectionery, Branded Apparel, Personal Care and Stationery.

TC's aspiration to be an exemplar in sustainability practices is manifest in its status as the onlyompany in the world of its size and diversity to be 'carbon positive', 'water positive' and 'solidaste recycling positive.' In addition, ITC's businesses have created sustainable livelihoods for

more than 5 million people, a majority of whom represent the poorest in rural India. List of

roducts & brands

n FMCG, ITC has a strong presence in:

igarettes: W. D. & H. O. Wills , Gold Flake , Navy Cut , Insignia , India Kings , Classic (Verve,ush, Regular, Mild & Ultra Mild) , Silk Cut , Scissors , Capstan , Berkeley , Bristol , Lucky Strikend Flake .


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oods: ( Kitchens of India ; Ashirvaad ; Minto ; Sunfeast ; Candyman ; Bingo ; Yippee brands ineady to Eat, Staples, Biscuits, Confectionery, Noodles and Snack Foods);

pparel: ( Wills Lifestyle and John Players brands);

ersonal care: ( Fiama di Wills ; Vivel ; Essenza di Wills ; Superia ; Vivel brands of products inerfumes, haircare and skincare)

tationery: ( Classmate and Paperkraft brands)

afety Matches and Agarbattis: [ Ship (through ownership of WIMCO); iKno ; Mangaldeep ; Aimrands]

ther businesses include:

otels: ITC's hotels (under brands including ITC Hotel / Welcomhotel ) have evolved into beingndia's second largest hotel chain with over 80 hotels throughout the country. ITC is also thexclusive franchisee in India of two brands owned by Sheraton International Inc.- The Luxuryollection and Sheraton which ITC uses in association with its own brands in the luxury 5 star

egment. Brands in the hospitality sector owned and operated by its subsidiaries includeortune and Welcomheritage brands.

aperboard, Specialty Paper, Graphic and other Paper;

ackaging and Printing for diverse international and Indian clientele.

nfotech (through its near-wholly owned subsidiary ITC Infotech India Limited which is a SEIMM Level 5 company)

ural initiatives

TC's Agri-Business is India's second largest exporter of agricultural products. ITC is one of thendia's biggest foreign exchange earners (US $ 2 billion in the last decade). The Company's 'e-houpal' initiative is enabling Indian agriculture significantly enhance its competitiveness bympowering Indian farmers through the power of the Internet. This transformational strategy,hich has already become the subject matter of a case study at Harvard Business School, is

xpected to progressively create for ITC a huge rural distribution infrastructure, significantlynhancing the Company's marketing reach.

he company places computers with Internet access in rural farming villages; the e-Choupals

erve as both a social gathering place for exchange of information (choupal means gatheringlace in Hindi) and an e-commerce hub. What began as an effort to re-engineer therocurement process for soy, tobacco, wheat, shrimp, and other cropping systems in rural Indiaas also created a highly profitable distribution and product design channel for the companyn e-commerce platform that is also a low-cost fulfillment system focused on the needs of ruralndia. The e-Choupal system has also catalyzed rural transformation that is helping to alleviateural isolation, create more transparency for farmers, and improve their productivity andncomes.

Corporate philanthropy


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ward recognizes ITC's e-Choupal as the most exemplary contribution in the field of nformation and Communication Technologies (ICT) for development during the last 10 years.TC e-Choupal won the Award for the importance of its contribution to development prioritieske poverty reduction, its scale and replicability, sustainability and transparency.

TC has won the inaugural 'World Business Award', the worldwide business award recognisingompanies who have made significant efforts to create sustainable livelihood opportunities andnduring wealth in developing countries. The award has been instituted jointly by the United

ations Development Programme (UNDP), International Chamber of Commerce (ICC) and theRH Prince of Wales International Business Leaders Forum (IBLF).

TC is the first Corporate to receive the Annual FICCI Outstanding Vision Corporate Triplempact Award in 2007 for its invaluable contribution to the triple bottom line benchmarks of uilding economic, social and natural capital for the nation.

TC has won the Golden Peacock Awards for 'Corporate Social Responsibility (Asia)' in 2007, theward for CSR in Emerging Economies 2005 and Excellence in Corporate Governance' in theame year. These Awards have been instituted by the Institute of Directors, New Delhi, in

ssociation with the World Council for Corporate Governance and Centre for Corporateovernance.

TC Hotel Royal Gardenia, Bengaluru is the first Indian Hotel and world's largest, to get theEED Platinum rating - the highest green building certification globally.

he Stockholm Challenge 2006 for the e-Choupal initiative. This award is for using Informationechnology for the economic development of rural communities.

nited Nations Industrial Development Organisation (UNIDO) Award at the internationalonference on Sharing Innovative Agribusiness Solutions 2008 at Cairo for ITC's exemplarynitiatives in agri business through the e-Choupal.

he Corporate Social Responsibility Crown Award for Water Practices from UNESCO and Waterigest for its distinguished work carried out in the water sector in India. ITC also received theational Award for Excellence in Water Management 2007 in the 'beyond the fence' categoryom the CII Sohrabji Godrej Green Business Centre for its leadership role in implementingater and watershed management practices.

he watershed programme also won the Asian CSR Award 2007 for Environmental Excellence

iven by the Asian Institute of Management. The Award recognizes and honours Asianompanies for outstanding, innovative and world-class projects. The Company also received theyutaro Hashimoto Incentive Prize 2007 for Environment & Development from the Asia Pacificorum. This Award aims at promoting information dissemination of good practices towardsustainable development in the Asia-Pacific region.

he Readers' Digest Pegasus Award for corporate social responsibility, recognising outstandingork done by socially conscious companies.

he Corporate Award for Social Responsibility 2008 from The Energy and Resources Institute

TERI) in recognition of its exemplary initiatives in implementing integrated watershed


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evelopment programmes across 7 states in India. The company also won the award in 2004or its e-Choupal initiative. The Award provides impetus to sustainable development andncourages ongoing social responsibility processes within the corporate sector.

he 'Enterprise Business Transformation Award' for Asia Pacific (Apac), instituted by Infosysechnologies and Wharton School of the University of Pennsylvania for its celebrated e-Choupal

nitiative.

he Best Corporate Social Responsibility Practice Award 2008 jointly instituted by the Bombaytock Exchange, Times Foundation and the NASSCOM Foundation.

he NASSCOM CNBC IT User Award 2008 in the Retail & Logistics category. The Company haseen recognised for its pro-active and holistic approach to IT adoption and the seamlessignment of IT with business strategy. This is the fourth time that ITC has won Nasscom's Best

T User Award since it was instituted in 2003.

he Institute of Chartered Accountants of India Award for Excellence in Financial Reporting withs Annual Report and Accounts, adjudged as a commendable entry under the Category

Manufacturing and Trading Enterprises.

he Business Today Award for the Best Managed Company in recognition of its outstandingnitiatives in the consumer products segment

eneral Information.

General Information | Depository Activity | Share Registration

Company's ShareCapital GDRs

Listing on StockExchanges

Annual GeneralMeeting

Dividend Bonus Issues Share Prices ShareholdingPattern

Company's Share Capital

07,08,30,134 Ordinary Shares of the Company, representing 65.80% of the Company's paid

p capital, as on 31 st December, 2010 are in dematerialised form. The paid-up share capitalf the Company, as on 31st December, 2010, is Rs. 770,59,47,280 (Rs.770.59 crores) dividednto 770,59,47,280 Ordinary Shares of the face value of Re 1/- each.

Total No. of Shareholders as on 31 st December,2010:

4,02,427

No. of shareholders in dematerialised form : 3,58,11 7No. of shareholders in physical form : 44,310
http://www.itcportal.com/shareholder/investor-relations/depository-activities.aspxhttp://www.itcportal.com/shareholder/investor-relations/share-registration.aspxhttp://www.itcportal.com/shareholder/investor-relations/share-registration.aspxhttp://www.itcportal.com/shareholder/investor-relations/depository-activities.aspx


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: GDRs

he Company, in 1993, made an offer of 45,00,000 Global Depository Receipts (GDRs) with5,00,000 warrants (in the ratio of 1 warrant for every three GDRs held) to subscribe for theDRs. As on March 31, 2010, 1,47,00,984 GDRs, representing 1,47,00,984 underlying Ordinary

hares of the Company, were outstanding. The Company's GDRs are listed on the Luxembourgtock Exchange (Code: 004660919), at Societe de la Bourse de Luxembourg, 11 Avenue de laorte - Neuve, L-2227 Luxembourg.

: Listing on Stock Exchanges (with Stock Codes)

The Company's shares are listed with 3 Stock Exchanges:

Kolkata (10000018*)

Mumbai (500875*)

National Stock Exchange (ITC*)

Stock Codes

: Annual General Meeting (AGM)he Ninety-Ninth AGM of the Company was held on Friday, 23rd July, 2010 at Science City,

Main Auditorium, JBS Haldane Avenue, Kolkata 700 046, at 10.30 a.m.

espatch of Notice of the AGM along with copy of the Report and Accounts 2010 to theMembers of the Company was completed on 29th June, 2010.

: Special Centenary Dividend and Dividend for the financial year ended 31st March,010

he Members of the Company at the AGM held on 23rd July, 2010 declared special Centenaryividend of Rs. 5.50 per Ordinary Share of Re.1/- each and a dividend of Rs. 4.50 per Ordinaryhare for the financial year ended 31st March, 2010, aggregating Rs. 10/- per Ordinary Share,ayable on or after Monday, 26th July, 2010 to those Members of the Company entitledhereto.

he aforesaid dividend has been credited through National Electronic Clearing Service to theank accounts of those shareholders who opted for the same on Monday, 26th July, 2010.espatch of dividend warrants to the remaining shareholders has been completed on Saturday,4th July, 2010.

nclaimed Dividend

nclaimed dividend for the years prior to and including the financial year 2002-03 has beenansferred to the General Revenue Account of the Central Government / the Investorducation and Protection Fund established by the Central Government (IEPF), as applicable.

hareholders who have not encashed their dividend warrants relating to financial year(s) up tond including 1993-94 may claim such dividend (transferred to the General Revenue Account)om the Registrar of Companies, West Bengal, Government of India, Nizam Palace, II MSO


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uilding, 2nd Floor, 234/4 A.J.C. Bose Road, Kolkata 700 020, in the prescribed form no. 2tached below.

or Unclaimed Dividend form Click here

he dividend for the undernoted years, if unclaimed for 7 years, will be transferred by theompany to IEPF in accordance with the schedule given below.

nce unclaimed dividend is transferred to IEPF, no claim shall lie in respect thereof.

TC Limited

inancial

Year

DividendIdentificati

onNo.

Date of Declarati

on of Dividend

Total Dividend(Rs.)

UnclaimedDividend as on

31/03/2010

Due fortransferto IEPF

on(Rs.) %

003-4

74th 30th July,2004

4,95,35,77,020.00

2,72,62,500.00

0.55

4thSeptember,2011*

004-5

75th 29th July,2005

7,73,24,56,356.00

4,19,54,783.00

0.54

3rdSeptember, 2012

005-6

76th 21st July,2006

9,95,12,91,267.00

5,79,56,063.00

0.58

26thAugust,2013

006-7

77th 27th July,2007

11,66,29,29,029.00

7,64,10,164.00

0.66

1stSeptemb

er, 2014007-8

78th 30th July,2008

13,19,01,73,540.00

8,36,71,407.00

0.63

4thSeptember, 2015

008-9

79th 24th July,2009

13,96,53,10,312.00

9,32,42,325.00

0.67

29thAugust,2016

It will not be possible to entertain claims received by ISC after 2ndeptember, 2011.

rstwhile ITC Hotels Limited

inancial

Year

Date of Declaration of

Dividend

Total Dividend(Rs.)

Unclaimed Dividend ason 31/03/2010

Due fortransfer to

IEPF on(Rs.) %

003-04 14th July, 2004 6,04,32,984.00 6,89,499.00 1.14 18th August,2011*

It will not be possible to entertain claims received by ISC after 17th August, 2011.

: Information on Bonus Issues
http://www.itcportal.com/shareholder/images/formiiforISC.dochttp://www.itcportal.com/shareholder/images/formiiforISC.doc


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YEAR BONUS

1978 One share for every five shares held

1980 One share for every five shares held

1989 One share for every one share held

1991 Three shares for every five shares held

1994 One share for every one share held

2005 One share for every two shares held

2010* One share for every one share held*

In accordance with the approval of the Members at the Ninety-Ninth AGM of the Companyeld on 23rd July, 2010, the Company on 6th August, 2010 has issued and allotted Bonushares in the ratio of 1 (One) Bonus Share of Re.1/- each for every existing 1 (One) fully paid-p Ordinary Share of Re.1/- each to those Members who were holding shares of the Companyn 4th August, 2010 i.e. the Record Date fixed for this purpose by the Board of Directors of the

ompany.he Bonus shares, issued and allotted in electronic form have been credited to the Beneficiaryccounts on 10th August, 2010. With respect to shares issued and allotted in physical form, theespatch of the Bonus Share Certificates by Speed Post / Registered Air Mail (in case of hareholders residing abroad) have been completed on 10th August, 2010.

: Share Prices

ITC's Share Prices for the current financial year

YEAR NSE BSE CSE

2010 HIGH LOW HIGH LOW HIGH LOW

MONTH

APRIL 273.80 260.10 272.60 260.60 264.60 264.40

MAY 287.70 245.00 285.90 253.85 274.10 263.50

JUNE 307.90 275.20 307.80 276.10 291.50 280.05

JULY 311.90 266.40 311.70 289.90 305.00 299.95

AUGUST 313.45 151.55 313.30 151.50 156.00 155.85SEPTEMBER 180.85 161.40 181.50 161.25 NIL NIL

OCTOBER 181.80 165.00 184.70 165.50 NIL NIL

NOVEMBER 179.40 164.00 178.90 163.70 NIL NI:L

ITC's Share Prices for the last financial year

YEAR NSE BSE CSE


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MONTH

APRIL 194.25 177.50 194.80 177.60 NIL NIL

MAY 223.25 179.55 209.00 179.35 196.00 182.60

JUNE 210.00 180.50 209.70 180.25 199.00 191.20

JULY 253.00 187.20 252.25 187.20 239.00 227.90

AUGUST 253.00 218.05 252.00 218.00 NIL NIL

SEPTEMBER 238.00 222.40 237.90 223.00 232.55 232.50

OCTOBER 266.50 230.00 267.90 230.00 NIL NIL

NOVEMBER 271.00 243.10 271.30 244.00 264.50 264.45

DECEMBER 260.50 243.20 260.40 232.00 256.90 245.30

YEAR NSE BSE CSE


MONTH

JANUARY 259.50 241.25 259.60 241.50 255.40 247.50

FEBRUARY 254.85 228.80 254.65 229.00 250.10 246.40

MARCH 272.90 235.00 272.70 232.00 264.75 236.35

Shareholding Pattern

Name of the Company : ITC LimitedScrip Code, Name of the scrip, class of security :Scrip Code - ITC (NSE), 500875 (BSE) ,10000018 (CSE);Name of the scrip - ITC LTD; Class of security- Ordinary SharesQuarter ended : 30th September, 2010

(I)(a) Statement showing ShareholdingPattern


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Category

Code

Category of shareholder

Numberof

shareholders

Totalnumber of

shares

Number of sharesheld

indemateriali

sedform

Totalshareholding

as a %ageof total

numberof shares

Sharespledged

or otherwiseencumbered

As a%age

of (A+B

)

As a%age

of (A+B+

C)

Numberof

shares

As a

%age

(I) (II) (III) (IV) (V) (VI) (VII) (VIII)

(IX) =(VIII)

/(IV)*1

00

(A)Promoterand PromoterGroup

(1) Indian

(a)Individuals

/ HinduUndivided Family

0 0 0 0.00 0.00 0 0.00

(b)

CentralGovernment

/ StateGovernment(s)

0 0 0 0.00 0.00 0 0.00

(c) Bodies

Corporate0 0 0 0.00 0.00 0 0.00

(d)FinancialInstitutions /Banks

0 0 0 0.00 0.00 0 0.00

(e) Any Other(specify) 0 0 0 0.00 0.00 0 0.00

Sub-Total(A)(1) 0 0 0 0.00 0.00 0 0.00

(2) Foreign

(a)

Individuals(Non-ResidentIndividuals /ForeignIndividuals)

0 0 0 0.00 0.00 0 0.00

(b) BodiesCorporate 0 0 0 0.00 0.00 0 0.00

(c) Institutions 0 0 0 0.00 0.00 0 0.00

(d) Any Other(specify) 0 0 0 0.00 0.00 0 0.00

Sub-Total (A)(2) 0 0 0 0.00 0.00 0 0.00


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)(b) Statement showing Shareholding of persons belonging to the categoryPromoter and Promoter Group

Sr.No.

Name of theshareholder

Total shares held Shares pledged or otherwise encumbered

Number

As a % of grandtotal (A)+(B)+

(C)

Number As a %age

As a % of grandtotal (A)+(B)+(C) of

sub-clause (I)(a)

(I) (II) (III) (IV) (V)(VI) =

(V)/(III)*100

(VII)

- 0 0.00 0 0.00 0.00Total 0 0.00 0 0.00 0.00

)(c) Statement showing Shareholding of persons belonging to the category Publicnd holding more than 1% of the total number of shares

Sr.

No.Name of the shareholder Number of

shares

Shares as a %age of totalnumber of shares

{i.e., Grand Total (A) + (B)

+ (C)indicated in Statementat para (I)(a) above}

1 Tobacco Manufacturers (India) Limited 1985564880 25.862 Life Insurance Corporation of India 1021267772 13.30

3 Specified Undertaking of the UnitTrust of India 896721090 11.68

4 Myddleton Investment Co. Limited 324207960 4.22

5 The New India Assurance Company

Limited169078670 2.20

6 General Insurance Corporation of India 146255158 1.91

7 The Oriental Insurance CompanyLimited 139681560 1.82

8 National Insurance Company Limited 131422220 1.71

9 ICICI Prudential Life InsuranceCompany Ltd. 121238617 1.58

10 Rothmans International EnterprisesLimited 103303260 1.35

Total 5038741187 65.63

)(d) Statement showing details of locked - in shares

r. No. Name of the shareholder Number of locked-in shares

Locked-in shares as a %age of total number of shares {i.e.,Grand Total (A) + (B) + (C)

indicated in Statement at para(I)(a) above}

- 0 0.00


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Total 0 0.00

I)(a) Statement showing details of Depository Receipts (DRs)

Sr.No.

Type of outstanding DR(ADRs, GDRs, SDRs,

etc.)

Number of outstanding DRs

Number of sharesunderlying

outstanding DRs

Shares underlyingoutstanding DRs as a

%age of total number of shares {i.e., Grand Total(A) + (B) + (C) indicatedin statement at para (I)

(a) above}GDRs 27573942 27573942 0.36

Total 27573942 27573942 0.36

I) (b) Statement showing Holding of Depository Receipts (DRs), where underlyinghares are in excess of 1% of the total number of shares

NOT APPLICABLE

Sr.No.

Name of theDR Holder

Type of outstanding DR(ADRs, GDRs,

SDRs, etc.)

Number of sharesunderlying outstanding DRs

Shares underlyingoutstanding DRs as a

%age of total number of shares {i.e., Grand Total(A) + (B) + (C) indicatedin Statement at para (I)

(a) above}

- - - - -

Total

ote :

he 'number of shareholders' is based on DP ID & CL ID Nos. (in respect of shares held inematerialised form) and Account Nos. (in respect of shares held in physical form).

Balance Sheet of ITC ------------------- in Rs. Cr. -------------------

Mar '06 Mar '07 Mar '08 Mar '09 Mar '10

12 mths 12 mths 12 mths 12 mths 12 mths

ources Of FundsTotal Share Capital 375.52 376.22 376.86 377.44 381.82Equity Share Capital 375.52 376.22 376.86 377.44 381.82hare Application Money 0.00 0.00 0.00 0.00 0.00

Preference Share Capital 0.00 0.00 0.00 0.00 0.00Reserves 8,626.79 10,003.78 11,624.69 13,302.55 13,628.17Revaluation Reserves 59.17 57.08 56.12 55.09 54.39Networth 9,061.48 10,437.08 12,057.67 13,735.08 14,064.38ecured Loans 25.91 60.78 5.57 11.63 0.00


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Unsecured Loans 93.82 140.10 208.86 165.92 107.71Total Debt 119.73 200.88 214.43 177.55 107.71Total Liabilities 9,181.21 10,637.96 12,272.10 13,912.63 14,172.09



Application Of FundsGross Block 6,227.17 7,134.31 8,959.70 10,558.65 11,967.86Less: Accum. Depreciation 2,065.44 2,389.54 2,790.87 3,286.74 3,825.46Net Block 4,161.73 4,744.77 6,168.83 7,271.91 8,142.40Capital Work in Progress 399.97 1,130.20 1,126.82 1,214.06 1,008.99nvestments 3,517.01 3,067.77 2,934.55 2,837.75 5,726.87nventories 2,636.29 3,354.03 4,050.52 4,599.72 4,549.07undry Debtors 547.96 636.69 736.93 668.67 858.80

Cash and Bank Balance 67.47 103.54 153.34 68.73 120.16Total Current Assets 3,251.72 4,094.26 4,940.79 5,337.12 5,528.03Loans and Advances 1,188.42 1,390.19 1,949.29 2,150.21 1,929.16Fixed Deposits 788.35 796.62 416.91 963.66 1,006.12Total CA, Loans & Advances 5,228.49 6,281.07 7,306.99 8,450.99 8,463.31Deffered Credit 0.00 0.00 0.00 0.00 0.00Current Liabilities 2,736.95 3,113.01 3,619.76 4,121.59 4,619.54Provisions 1,389.04 1,472.84 1,645.33 1,740.49 4,549.94Total CL & Provisions 4,125.99 4,585.85 5,265.09 5,862.08 9,169.48Net Current Assets 1,102.50 1,695.22 2,041.90 2,588.91 -706.17Miscellaneous Expenses 0.00 0.00 0.00 0.00 0.00Total Assets 9,181.21 10,637.96 12,272.10 13,912.63 14,172.09

Contingent Liabilities 98.72 129.56 308.08 261.36 258.73Book Value (Rs) 23.97 27.59 31.85 36.24 36.69


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Profit & Loss account of ITC ------------------- in Rs. Cr. -------------------



IncomeSales Turnover 16,236.42 19,519.99 21,467.38 23,247.84 26,399.63Excise Duty 6,438.09 7,206.16 7,435.18 8,262.03 7,832.18Net Sales 9,798.33 12,313.83 14,032.20 14,985.81 18,567.45Other Income 203.20 276.22 516.50 426.21 545.05Stock Adjustments 135.68 322.96 32.46 630.30 -447.54

Total Income 10,137.2 112,913.0

114,581.1

616,042.3

218,664.9

6ExpenditureRaw Materials 4,265.72 5,807.48 6,307.79 6,864.96 7,140.69Power & Fuel Cost 245.17 253.00 309.90 394.12 387.34Employee Cost 541.40 630.15 745.00 903.37 1,014.87Other ManufacturingExpenses 50.08 65.32 73.52 402.88 413.79

Selling and Admin Expenses 1,042.51 1,299.17 1,609.33 1,684.41 2,093.87Miscellaneous Expenses 416.54 601.28 682.72 516.90 1,008.91

Preoperative ExpCapitalised -15.78 -42.52 -112.75 -72.55 -71.88

Total Expenses 6,545.64 8,613.88 9,615.51 10,694.09 11,987.59Mar '06 Mar '07 Mar '08 Mar '09 Mar '10


Operating Profit 3,388.37 4,022.91 4,449.15 4,922.02 6,132.32PBDIT 3,591.57 4,299.13 4,965.65 5,348.23 6,677.37Interest 21.10 16.04 24.61 47.65 90.28PBDT 3,570.47 4,283.09 4,941.04 5,300.58 6,587.09Depreciation 332.34 362.92 438.46 549.41 608.71Other Written Off 0.00 0.00 0.00 0.00 0.00Profit Before Tax 3,238.13 3,920.17 4,502.58 4,751.17 5,978.38Extra-ordinary items 46.13 61.94 117.41 81.52 48.65PBT (Post Extra-ord Items) 3,284.26 3,982.11 4,619.99 4,832.69 6,027.03Tax 1,027.57 1,263.07 1,480.97 1,565.13 1,965.43


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Reported Net Profit 2,235.35 2,699.97 3,120.10 3,263.59 4,061.00Total Value Addition 2,279.92 2,806.40 3,307.72 3,829.13 4,846.90Preference Dividend 0.00 0.00 0.00 0.00 0.00Equity Dividend 995.12 1,166.29 1,319.01 1,396.53 3,818.18Corporate Dividend Tax 139.58 198.21 224.17 237.34 634.15Per share data (annualised)Shares in issue (lakhs) 37,551.79 37,622.23 37,686.10 37,744.00 38,181.77

Earning Per Share (Rs) 5.95 7.18 8.28 8.65 10.64Equity Dividend (%) 265.00 310.00 350.00 370.00 1,000.00Book Value (Rs) 23.97 27.59 31.85 36.24 36.69

Cash Flow of ITC ------------------- in Rs. Cr. -------------------



Net Profit Before Tax 3269.19 3926.70 4571.77 4825.74 6015.31Net Cash From OperatingActivities 1929.68 2141.19 2722.96 3279.03 4630.65

Net Cash (used in)/fromnvesting Activities -175.31 -1082.78 -1736.78 -1260.74 -3531.56

Net Cash (used in)/fromFinancing Activities -954.21 -1014.07 -1316.09 -1556.15 -1009.86Net (decrease)/increasen Cash and Cash

Equivalents800.16 44.34 -329.91 462.14 89.23

Opening Cash & CashEquivalents 55.66 855.82 900.16 570.25 993.70

Closing Cash & CashEquivalents 855.82 900.16 570.25 1032.39 1082.93

Key Financial Ratios of ITC ------------------- in Rs. Cr. -------------------

Mar'06 Mar '07 Mar '08 Mar '09 Mar '10

nvestment Valuation RatiosFace Value 1.00 1.00 1.00 1.00 1.00

Dividend Per Share 2.65 3.10 3.50 3.70 10.00


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Operating Profit Per ShareRs) 8.97 10.64 11.76 13.04 16.06

Net Operating Profit Perhare (Rs) 26.09 32.73 37.23 39.70 48.63

Free Reserves Per ShareRs) 22.00 25.62 29.88 34.27 34.73

Bonus in Equity Capital 87.29 87.12 86.98 86.84 85.85rofitability Ratios

Operating Profit Margin(%) 34.36 32.51 31.57 32.84 33.02Profit Before Interest AndTax Margin(%) 30.13 28.86 27.50 28.37 28.97

Gross Profit Margin(%) 35.98 34.05 28.44 29.17 29.74Cash Profit Margin(%) 25.49 24.28 23.45 24.22 23.98Adjusted Cash Margin(%) 25.73 23.98 23.45 24.22 23.98Net Profit Margin(%) 22.19 21.40 21.50 21.18 21.30Adjusted Net ProfitMargin(%) 22.43 21.10 21.50 21.18 21.30

Return On CapitalEmployed(%) 36.26 37.24 36.60 34.60 42.64

Return On Net Worth(%) 24.83 26.01 25.99 23.85 28.98Adjusted Return on NetWorth(%) 25.09 25.64 24.71 23.26 28.29

Return on Assets ExcludingRevaluations 16.80 27.59 31.85 36.24 36.69

Return on Assets IncludingRevaluations 16.87 27.74 32.00 36.39 36.84

Return on Long TermFunds(%) 36.36 37.51 36.88 34.75 42.64

Liquidity And Solvency RatiosCurrent Ratio 1.25 1.33 1.36 1.42 0.92Quick Ratio 0.57 0.58 0.56 0.61 0.39Debt Equity Ratio 0.01 0.02 0.02 0.01 0.01Long Term Debt Equity Ratio 0.01 0.01 0.01 0.01 0.01Debt Coverage Ratios

nterest Cover 209.63 456.67 258.92 168.97 82.46

Total Debt to Owners Fund 0.01 0.02 0.02 0.01 0.01Financial Charges CoverageRatio

172.52 268.33 199.51 112.17 73.42

Financial Charges CoverageRatio Post Tax

122.69 191.95 145.60 81.02 52.72

Management Efficiency Ratiosnventory Turnover Ratio 3.82 3.76 5.51 5.26 6.04

Debtors Turnover Ratio 18.22 20.79 20.43 21.32 24.31


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nvestments Turnover Ratio 6.43 6.05 5.51 5.26 6.04Fixed Assets Turnover Ratio 2.31 2.42 1.59 1.44 1.58Total Assets Turnover Ratio 1.08 1.17 1.16 1.09 1.33Asset Turnover Ratio 1.59 1.75 1.59 1.44 1.58

Average Raw MaterialHolding

223.31 213.12 220.61 185.08 187.97

Average Finished GoodsHeld 48.89 52.68 43.88 64.35 36.33

Number of Days In WorkingCapital 40.51 49.56 52.39 62.19 -13.69

rofit & Loss Account RatiosMaterial Cost Composition 43.53 47.16 44.95 45.80 38.45mported Composition of

Raw Materials Consumed 16.35 16.92 12.78 12.98 12.03

elling Distribution CostComposition 6.39 6.52 7.44 7.12 6.66

Expenses as Composition of Total Sales 18.30 18.54 15.45 14.85 12.68

Cash Flow Indicator RatiosDividend Payout Ratio NetProfit 50.76 50.53 49.45 50.06 109.63

Dividend Payout Ratio CashProfit 44.19 44.54 43.36 42.84 95.34

Earning Retention Ratio 49.78 48.75 47.98 48.67 -12.31Cash Earning RetentionRatio 56.22 54.90 54.68 56.23 2.64

AdjustedCash Flow Times 0.05 0.07 0.06 0.05 0.02

Mar'06 Mar '07 Mar '08 Mar '09 Mar '10

Earnings Per Share 5.95 7.18 8.28 8.65 10.64

Book Value 23.97 27.59 31.85 36.24 36.69

Quarterly Results of ITC ------------------- in Rs. Cr. -------------------


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Sep '09 Dec '09 Mar '10 Jun '10 Sep '10

ales Turnover 4,345.28 4,580.15 5,131.61 4,847.34 5,147.18Other Income 68.44 159.12 59.20 98.48 124.49Total Income 4,413.72 4,739.27 5,190.81 4,945.82 5,271.67

Total Expenses 2,755.16 2,872.51 3,513.65 3,210.25 3,272.29Operating Profit 1,590.12 1,707.64 1,617.96 1,637.09 1,874.89Profit On Sale Of Assets -- -- -- -- --Profit On Sale Of Investments -- -- -- -- --Gain/Loss On ForeignExchange -- -- -- -- --

VRS Adjustment -- -- -- -- --Other Extraordinaryncome/Expenses -- -- -- -- --

Total Extraordinaryncome/Expenses -- -- -- -- --

Tax On Extraordinary Items -- -- -- -- --Net Extra Ordinaryncome/Expenses -- -- -- -- --

Gross Profit 1,658.56 1,866.76 1,677.16 1,735.57 1,999.38nterest 18.14 10.87 18.51 5.80 5.36

PBDT 1,640.42 1,855.89 1,658.65 1,729.77 1,994.02Depreciation 148.39 154.87 153.86 159.68 163.99Depreciation On RevaluationOf Assets -- -- -- -- --

PBT 1,492.03 1,701.02 1,504.79 1,570.09 1,830.03Tax 482.12 556.85 476.57 499.78 583.29Net Profit 1,009.91 1,144.17 1,028.22 1,070.31 1,246.74Prior Years Income/Expenses -- -- -- -- --Depreciation for PreviousYears Written Back/ Provided -- -- -- -- --

Dividend -- -- -- -- --Dividend Tax -- -- -- -- --Dividend (%) -- -- -- -- --Earnings Per Share 2.67 3.01 2.69 2.80 1.62Book Value -- -- -- -- --Equity 378.02 379.53 381.82 381.82 767.74Reserves -- -- -- -- --Face Value 1.00 1.00 1.00 1.00 1.00


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Half Yearly Results of ITC ------------------- in Rs. Cr. -------------------

Sep '08 Mar '09 Sep '09 Mar '10 Sep '10


ales Turnover 7,796.67 7,786.06 8,478.20 9,904.04 9,994.52Other Income 190.50 149.81 156.01 218.32 222.97Total Income 7,987.17 7,935.87 8,634.21 10,122.36 10,217.49Total Expenses 5,419.86 5,109.71 5,500.75 6,578.44 6,482.54Operating Profit 2,376.81 2,676.35 2,977.45 3,325.60 3,511.98Profit On Sale Of Assets -- -- -- -- --Profit On Sale Of Investments -- -- -- -- --Gain/Loss On Foreign

Exchange-- -- -- -- --


Total Extraordinaryncome/Expenses -- -- -- -- --



PBDT 2563.12 2812.03 3109.48 3514.54 3723.79Depreciation 260.10 289.31 299.98 308.73 323.67Depreciation On RevaluationOf Assets -- -- -- -- --

PBT 2303.02 2522.72 2809.50 3205.81 3400.12Tax 751.63 810.52 920.89 1,033.42 1,083.07Net Profit 1,551.39 1,712.20 1,888.61 2,172.39 2,317.05

Prior Year Income/Expenses -- -- -- -- --Depreciation for PreviousYears Written Back/ Provided -- -- -- -- --

Dividend -- -- -- -- --Dividend Tax -- -- -- -- --Dividend (%) -- -- -- -- --Earnings Per Share(Rs) 4.11 4.54 5.00 5.69 3.02Book Value(Rs) -- -- -- -- --

Equity 377.02 377.44 378.02 381.82 767.74


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Reserves -- 13,302.55 -- 13,628.17 --Face Value(Rs) 1.00 1.00 1.00 1.00 1.00

Nine Months of ITC ------------------- in Rs. Cr. -------------------

Dec '05 Dec '06 Dec '07 Dec '08 Dec '09

ales Turnover 7,006.07 8,902.96 10,025.20 11,655.32 13,058.35Other Income 211.46 234.21 447.22 288.06 315.13Total Income 7,217.53 9,137.17 10,472.42 11,943.38 13,373.48Total Expenses 4,481.13 5,876.86 6,665.93 7,900.47 8,373.26Operating Profit 2,524.94 3,026.10 3,359.27 3,754.85 4,685.09Profit On Sale Of Assets -- -- -- -- --Profit On Sale Of Investments -- -- -- -- --Gain/Loss On ForeignExchange -- -- -- -- --


Total Extraordinaryncome/Expenses -45.44 -- -- -- --



PBDT 2,688.68 3,256.98 3,804.58 4,038.27 4,965.37Depreciation 246.16 270.71 316.97 404.30 454.85Depreciation On RevaluationOf Assets -- -- -- -- --

PBT 2,442.52 2,986.27 3,487.61 3,633.97 4,510.52

Tax 775.06 936.99 1,103.15 1,179.37 1,477.74Net Profit 1,667.46 2,049.28 2,384.46 2,454.60 3,032.78Prior Years Income/Expenses -- -- -- -- --Depreciation for PreviousYears Written Back/ Provided -- -- -- -- --

Dividend -- -- -- -- --Dividend Tax -- -- -- -- --Dividend (%) -- -- -- -- --Earnings Per Share 44.41 5.45 6.33 6.51 7.99

Book Value -- -- -- -- --


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Equity 375.51 376.02 376.58 377.15 379.53Reserves -- -- -- -- --Face Value 10.00 1.00 1.00 1.00 1.00

Yearly Results of ITC ------------------- in Rs. Cr. -------------------


ales Turnover 9,790.53 12,369.3 013,947.5

315,582.7

318,382.2

4Other Income 286.08 336.49 610.90 340.31 374.33

Total Income 10,076.6 112,705.7

914,558.4

315,923.0

418,756.5

7

Total Expenses 6,463.15 8,412.89 9,543.59 10,529.5 712,079.1

9Operating Profit 3,327.38 3,956.41 4,403.94 5,053.16 6,303.05Profit On Sale Of Assets -- -- -- -- --Profit On Sale Of Investments -- -- -- -- --Gain/Loss On ForeignExchange -- -- -- -- --

VRS Adjustment -- -- -- -- --Other

Extraordinary Income/Expenss

-- -- -- -- --

TotalExtraordinary Income/Expenss

-45.02 -- -- -- --

Tax On Extraordinary Items -- -- -- -- --Net ExtraOrdinary Income/Expenses -- -- -- -- --

Gross Profit 3,613.46 4,292.90 5,014.84 5,393.47 6,677.38

nterest 11.93 3.28 4.61 18.32 53.36PBDT 3,556.51 4,289.62 5,010.23 5,375.15 6,624.02Depreciation 332.34 362.92 438.46 549.41 608.71Depreciation On RevaluationOf Assets -- -- -- -- --

PBT 3,224.17 3,926.70 4,571.77 4,825.74 6,015.31Tax 988.82 1,226.73 1,451.67 1,562.15 1,954.31Net Profit 2,235.35 2,699.97 3,120.10 3,263.59 4,061.00Prior Years Income/Expenses -- -- -- -- --Depreciation for Previous -- -- -- -- --


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Years Written Back/ ProvidedDividend -- -- -- -- --Dividend Tax -- -- -- -- --Dividend (%) -- -- -- -- --Earnings Per Share 5.95 7.18 8.28 8.65 10.64Book Value -- -- -- -- --Equity 375.52 376.22 376.86 377.44 381.82

Reserves 8,626.77 10,003.78 11,624.69 13,302.55 13,628.17Face Value 1.00 1.00 1.00 1.00 1.00

Capital Structure (ITC)Period Instrument Authorized

CapitalIssuedCapital

- P A I D U P -

From To (Rs. cr) (Rs. cr) Shares (nos) Face Value Capital

009 2010 Equity Share 214.75 214.75 2147483647 1 214.75008 2009 Equity Share 214.75 214.75 2147483647 1 214.75007 2008 Equity Share 214.75 214.75 2147483647 1 214.75006 2007 Equity Share 214.75 214.75 2147483647 1 214.75005 2006 Equity Share 214.75 214.75 2147483647 1 214.75004 2005 Equity Share 214.75 214.75 248221329 10 214.75003 2004 Equity Share 214.75 214.75 247678851 10 214.75002 2003 Equity Share 214.75 214.75 247511886 10 214.75

001 2002 Equity Share 214.75 214.75 245414904 10 214.75000 2001 Equity Share 214.75 214.75 245414904 10 214.75995 2000 Equity Share 214.75 214.75 245414904 10 214.75994 1995 Equity Share 214.75 214.75 242836754 10 214.75993 1994 Equity Share 125 121.23 121233027 10 121.23991 1993 Equity Share 125 116.73 116733027 10 116.73989 1991 Equity Share 72 66.34 66336220 10 66.34985 1989 Equity Share 35 33.17 33168110 10 33.17

984 1985 Equity Share 35 30.23 30226050 10 30.23980 1984 Equity Share 35 27.29 27288000 10 27.29978 1980 Equity Share 25 25 25000000 10 25970 1978 Equity Share 25 18.95 18950000 10 18.95955 1970 Equity Share 16 15.16 15160000 10 15.16

ompetitionLast Price Market Cap. Sales Net Profit Total Assets


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(Rs. cr.) TurnoverTC 172.50 132,927.59 18,382.24 4,061.00 14,172.09

Godfrey Phillip 2,180.10 2,267.04 1,407.85 118.38 781.08VST 625.05 965.20 475.01 62.05 247.39Kothari Product 437.45 290.12 395.52 66.84 560.08Golden Tobacco 89.50 157.60 110.06 -11.34 152.53

ITC Limited Financial Highlights


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Invested Capital is computed by nettingash and Cash Equivalents (includinghort Term Investments) from Totalapital Employed.

** Computed as PBIT(excluding Income fromShort term Investments)divided by averageInvested Capital duringthe year

*** Computed as PBITdivided by averageCapital Employed duringthe year

These graphs depict the standalone financial position.

ITC Limited Financial Highlights 2010


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These graphs depict the standalone financial position.

ITC Limited Financial Highlights 2010


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Operating Profit before Other Income,Interest and Tax

Inclusive of Dividend Distribution Tax# Special Centenary Dividend

Monthly High and low quotations of shares traded on CSE, BSE & NSE(Rs.)

Month

CSE BSE NSE

High

low

Closing High low

Closing High low

Closing

ec-9 NQ NQ NQ

130.20

116.00 125.43

130.25

121.60 125.40

an-0 NQ NQ NQ

129.80

120.75 125.13

129.75

120.63 125.08

eb-

0NQ NQ NQ 127.3

3

114.5

0116.03 127.4

3

114.4

0116.13


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Mar-0 NQ NQ NQ

136.35

116.00 131.58

136.45

117.50 131.53

pr-0 NQ NQ NQ

136.30

130.30 132.53

136.90

130.05 132.93

May-0 NQ NQ NQ

142.95

126.93 141.58

143.85

122.50 141.60

un-

0NQ NQ NQ 153.9

0

138.0

5152.38 153.9

5

137.6

0152.73

ul-10 NQ NQ NQ 155.85144.9

5 154.38155.9

5133.2

0 154.38

ug-0 NQ NQ NQ

165.95

151.50 162.65

166.30

151.55 163.15

ep-0 NQ NQ NQ

181.50

161.25 178.05

180.85

161.40 178.30

ct-0 NQ NQ NQ

184.70

165.50 171.15

181.80

165.00 171.20

ov-0 NQ NQ NQ

178.90

163.70 171.00

179.40

164.00 171.90

Not Quoted # Not Available

SE - Calcutta Stock Exchange

SE - Mumbai Stock Exchange

SE - National Stock Exchangeote: Share prices adjusted to reflect sub-division & issue of bonus shares in 2005-06

nd issue of bonus shares in 2010-11


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tock Prices

Based on the month end closing prices quotedon Bombay Stock Exchange

Note: Share prices adjusted to reflect sub-division & issue of bonus shares in 2005-06

and issue of bonus shares in 2010-11

Last 10 Years High, Low & Closing at BSE

Year High LowClosing

(as on March 31st)

2001 64.13 32.67 54.29

2002 59.27 38.33 46.44

2003 48.33 37.00 41.97

2004 79.01 41.27 69.43

2005 94.46 48.80 89.58


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2006 200.00 88.14 194.95

2007 212.70 140.15 150.40

2008 239.40 146.15 206.35

2009 232.40 232.40 232.40

2010 272.70 177.60 263.15

ote: Share price & Volume Adjusted to reflect Sub-division & Issue of Bonus Shares in 2005-6


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ITC Analysis Final

Documents

Transcript of ITC Analysis Final