Cigarettes & Tobacco company ITC announced Q1FY25 results: FMCG: Segment Revenue and PBIT up 6.3% and 10.4% YoY respectively on a high base (2-yr CAGR 11.1% and 52.8% respectively) Staples, Snacks, Dairy, Personal Wash, Fragrances, Homecare and Agarbatti drive growth Segment EBITDA Margin expanded 25 bps YoY to 11.3%; sequential uptick in prices witnessed in certain commodities. Cigarettes: Net Segment Revenue up 7% and Segment PBIT up 6.5% YoY Continued focus on portfolio/market interventions & agile execution to reinforce market standing Differentiated and premium offerings continued to perform well Sustained volume claw back from illicit trade on the back of deterrent actions by enforcement agencies and relative stability in taxes. Hotels Segment: Revenue up 10.9% YoY; Segment PBIT up 11.5% YoY Robust performance despite fewer wedding dates and extreme heatwave/elections impacting domestic travel & out-of-home dining ITC Ratnadipa1, Colombo launched in April’24; receives excellent guest response and widespread appreciation; 225 rooms and 8 F&B; outlets are currently operational 7 managed hotels with appx. 460 keys operationalised during the quarter Demerger update: Shareholders approved the Scheme of Arrangement for demerger (‘the Scheme’) at the NCLT convened meeting held on June 6, 2024. Petition for sanction of the Scheme has been filed with NCLT on July 22, 2024. Agri Business Segment: Revenues up 22.2% driven by value added agri products, leaf tobacco and wheat Strong customer relationships and agile execution drive growth in Leaf Tobacco & Value Added Agri products Cost escalation in leaf tobacco and other agri-commodities weighed on margins during the quarter Paperboards, Paper and Packaging Segment: Subdued realisations, surge in domestic wood prices and ocean freight continue to weigh on margins Capacity augmentation/debottlenecking projects successfully completed during the quarter; Segment performance includes the impact of shutdown/stabilisation related costs pertaining to these initiatives Result PDF