10:1 Split, LIC Stake 15.20%, Rs 15.75 Dividend: FMCG Stock Set For Dividend, Buy For TP Rs 480

Large cap diversified FMCG sector company ITC Ltd informed today about its upcoming meeting of Board of Directors scheduled to be held on May 23 to consider financial results and final dividend. Current market price of ITC Ltd share on BSE is Rs 424.90 with intraday fall of 3.63%. ITC Ltd has a market capitalisation of Rs 5,30,538.24 crore. ITC shares declined over 3% in last 1-week and rallied 107% in last 3-years. In last 1-year, ITC Ltd recommended Rs 15.75 per share and gave 3 bonus shares so far. The FMCG giant conducted 1 stock split.
Government Of Singapore has 1.44% stake in ITC with 180,057,232 shares while LIC has a high stake of 15.20% with 1,896,861,285 shares of the company. More details below:

ITC To Consider Financial Results, Dividend: As per the regulatory filing of ITC dated May 9, "a Meeting of the Board of Directors of the Company has been convened for Thursday, 23rd May, 2024, inter alia, to:

(a) consider and approve the Audited Standalone and Consolidated Financial Results of the Company along with the Segment-wise Revenue, Results, Assets and Liabilities for the Quarter and Twelve Months ended 31st March, 2024, the Balance Sheet as on that date, the Statement of Cash Flows for the financial year ended on that date and the Notes thereto, and

(b) consider and recommend Final Dividend for the financial year ended 31st March, 2024."

ITC Share Performance & Return: The 52-week high price of ITC Ltd share on BSE is Rs 499.60 per share (as on 24/07/2023) and 52-week low price is Rs 399.30 per share (as on 12/03/2024), respectively. The company has PE of 25.88 and ROE of 30.47. ITC share declined 2.78% in last 2-weeks, rallied 2.35% in last 3-months, declined 2.09% in last 6-months, surged 0.34% in last 1-year, and soared 62% in last 2-years.

ITC Dividend History: ITC Ltd announced 28 dividends since July 3, 2001. In last 1-year, ITC announced an equity dividend amounting to Rs 15.75 per share. At the current share price of Rs 426.35, ITC Ltd offers a dividend yield of 3.69%.

ITC Bonus Share History: ITC Ltd announced so far 3 bonuses since September 21, 2005. The last Bonus that ITC Ltd. declared was in the ratio 1:2 with ex-date fixed as July 1, 2016.

ITC Stock Split History: ITC split the face value of its share once since September 21, 2005. ITC Ltd last split the face value of its shares from Rs 10 to Re 1 in 2005.The share traded ex-split from September 21, 2005.

ITC Share Price Target 2024: Religare Broking has assigned buy call to ITC Ltd shares with target price of Rs 480 per share as the counter has edged 2.21% up in last 1-year span. According to the analyst, "we are seeing recovery in the FMCG space and ITC is offering a fresh buying opportunity with favourable risk-reward in place. Traders can consider taking positions in the stock."

Meanwhile, Prabhudas Lilladher too recommended buying ITC share with target price of Rs 470 per share.

ITC Q3 Result: ITC declared a growth of 6.5% in its consolidated net profit to Rs 5400.51 crore for the December quarter. The company declared its total revenue from operations soared 2% on year-on-year basis to Rs 17,651.85 crore from Rs 17,265 crore. Meanwhile, consolidated revenue surged 2.4% to Rs 19,484.50 crore. EBIDTA for the quarter arrived at Rs 6,024 crore, down 3.2%. EBIDTA margin declared at 36.6% and declined by 180 basis points YoY.

ITC witnessed robust performance in the FMCG - Others segment amid passive demand conditions, with a YoY surge of 7.6% in segment revenue and a 2-year CAGR at 12.8%. The growth was pushed by several categories that included staples, dairy, beverages, fragrances, personal wash, homecare, agarbattis, and notebooks. The segment's EBITDA margin expanded by 100 bps YoY to 11.0%, and the segment PBIT increased by 24.1% YoY, the company stated.

ITC About: ITC is one of India's foremost private sector companies. ITC has a diversified presence in FMCG, Hotels, Packaging, Paperboards & Specialty Papers and Agri-Business. ITC's aspiration to be an exemplar in sustainability practices is manifest in its status as the only company in the world, of its size and diversity, to be carbon, water and solid waste recycling positive. In addition, ITC's businesses and value chains create sustainable livelihoods for more than 6 million people, a majority of whom represent the poorest in rural India, according to its official website.

Disclaimer:

The stock has been picked from the brokerage report of Religare Broking & Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.