ITC Ltd

ITC has acquired 2,62,500 equity shares of Rs10/- each of Ample Foods (AFPL) (through primary subscription and secondary purchases) for an aggregate consideration of approx. Rs 131 crore. Consequent to the above, the Company's shareholding in AFPL aggregates 43.75% of its share capital. AFPL is engaged in the business of manufacturing and selling ready to cook snacks & meals, sauces & condiments, raw & deli meat, local & international marinades, cheese and frozen foods & snacks under the brand names 'Prasuma' and 'Meatigo'. Powered by Capital Market - Live

Shares of ITC rose 0.21% to Rs 410.65, while ABREL shed 0.68% to Rs 1,955.80 on the BSE. ABREL operates its pulp & paper products business under the name of Century Pulp and Paper (CPP), which was established in 1984 at Lalkuan (Nainital, Uttarakhand). CPP is a well-established player in the Indian paper industry with an installed capacity of 4.8 lakh MT per annum. The turnover of the pulp and paper segment stood at Rs 3,375 crore in FY24. The acquisition will immediately add significant scale and economies to existing operations with potential for further capacity expansion, provide locational advantage for efficient customer servicing and proximity to key raw material sources, mitigate operational risks through multi-site operations and enhance resilience across industry cycles through portfolio diversification. The ITC's business expects to drive structural improvement in profitability of CPP through several value unlock interventions such as capacity debottlenecking, product quality upgrade, efficiency improvement leveraging TPM/Digital initiatives, supply chain optimisation, overhead rationalisation, and procurement efficiencies. The company is targeting a 30% to 40% increase in EBITDA per ton (over normalised levels) post 2 full years of operations and expects a high teen ROCE on investments in the medium term. The said acquisition is expected to be consummated in about 6 months, subject to receipt of statutory approvals and fulfilment of the conditions laid down in the BTA B Sumant, executive director, ITC, said, 'The acquisition will strengthen the market standing of ITC's paperboards and specialty papers business and engender new opportunities in the domestic and international markets. The acquisition aligns with the company's strategy of driving the next horizon of growth in the paperboards and specialty papers business by expanding capacity at a new location considering that the existing facilities are already saturated. The strong linkages to afforestation and livelihood creation pursued by both the entities contribute meaningfully to national priorities. We are delighted to welcome CPP into the ITC fold and I am confident that together we will continue to set new benchmarks in customer satisfaction, operational excellence and sustainability.' R. K. Dalmia, managing director, Aditya Birla Real Estate, said, The divestment of the Pulp and Paper undertaking by ABREL is a strategic portfolio choice and unlocks value for the shareholders of ABREL. The company has embarked on a transformational growth phase, and this move will further sharpen its focus on real estate to drive sustained value creation. Over the years, CPP has become synonymous with strong performance and high sustainability standards. To take it to the next level in size and value, the company is pleased to have found in ITC, a credible and well-established player. ITC is a diversified conglomerate with businesses spanning fast-moving consumer goods, hotels, paperboards and packaging, agribusiness and information technology. Aditya Birla Real Estate (formerly known as Century Textiles and Industries) was established in 1897. It has a presence in the textiles, pulp & paper, and real estate sectors.Powered by Capital Market - Live

The company's FMCG ' Others business has reported 4% YoY growth in revenue to Rs 5,418 crore in Q3 FY24, amidst muted demand conditions. The revenue from Cigarettes rose by 7.8% YoY to Rs 8,136 crore in the third quarter. Adjusted for excise duty/NCCD on sales, the revenue is higher by 8.1% YoY, mainly driven by growth in volumes. The Agri Business segment revenue increased by 9.7% YoY to Rs 3,351 crore, with significant growth contribution from Leaf Tobacco & value added Agri products. The company's Paperboards, Paper and Packaging Segment remains impacted due to low priced Chinese & Indonesian supplies in global markets including India, soft domestic demand conditions and unprecedented surge in wood prices. Segmental revenue for Q3 FY25 was Rs 2,144 crore, up 3.1% YoY. The Hotels business has recorded 14.6% YoY growth in revenue to Rs 922 crore. The business has been demerged into ITC Hotels Limited (ITCHL) w.e.f. 01 January 2025. ITCHL shares listed on stock exchanges on 29 January 2025. During the quarter, the company witnessed sharp cost escalation in key input materials (edible oil, wheat, potato, leaf tobacco, wood etc.) witnessed. EBITDA improved by 2.9% to Rs 6,197 crore in Q3 FY25 from Rs 6,024 crore in Q3 FY24. Profit before tax in Q3 FY25 stood at Rs 7,363 crore, up by 9.5% from Rs 6,725 crore in Q3 FY24. The company's board recommends interim dividend of Rs 6.50 per share for the financial year ending 31 March 2025. Separately, ITC said that it has signed definitive agreements for acquisition of Prasuma, a leading player in the frozen, chilled and ready to cook foods space in India. Prasuma, a specialist in oriental cuisine (viz. momos, baos, Korean fried chicken), high quality delicatessens and raw meats, etc., sells a wide assortment of 170+ products, backed by unparalleled innovation expertise in developing 'Good-for-You' products. This acquisition will further fortify ITC's presence in these future-facing categories, with current annual market size of over Rs 10,000 crore and poised for rapid growth in the years ahead. ITC will acquire 100% stake in Prasuma over a period of 3 years. The first tranche of 43.8% stake shall be acquired upfront and balance stake will be acquired, in tranches, by June, 2028, basis pre-defined valuation criteria and subject to other conditions as stated in the definitive agreements. ITC had entered the Frozen Foods market in 2019 under 'ITC Master Chef' brand. Within 5 years of launch, ITC Master Chef has grown rapidly and has established itself as one of the leading Frozen Foods brands. With the industry at an inflection point, this acquisition will help strengthen and expand ITC's presence in the aforesaid categories by gaining entry into high growth segments, viz. Pan Asian foods, Deli meats, etc. With the proposed acquisition, ITC will become the first full stack player in the segment with an unparalleled portfolio, offering meals and snacking options across multiple occasions throughout the day for the discerning consumer. ITC Master Chef and Prasuma shall also benefit from significant synergies through well designed institutional mechanisms and enablers. ITC is a diversified conglomerate with businesses spanning fast-moving consumer goods, hotels, paperboards and packaging, agribusiness and information technology. Powered by Capital Market - Live

Earnings Today: Mahindra & Mahindra, LIC, Mazagon Dock Shipbuilders, NHPC, Oil India, Wockhardt, 3M India, Archean Chemical Industries, AIA Engineering, Akzo Nobel India, Alembic, Alkem Laboratories, Astra Microwave Products, Balrampur Chini Mills, Balu Forge Industries, Borosil, Caplin Point Laboratories, Century Plyboards, Chemplast Sanmar, Cholamandalam Financial Holdings, Delhivery, Dreamfolks Services will declare their results later today. Stocks to Watch: ITC's consolidated net profit fell 7.5% to Rs 4934.80 crore in Q3 FY25 as compared with Rs 5335.23 crore in Q3 FY24. Net sales increased 8.9% YoY to Rs 18,580.36 crore in Q3 FY25. Bharti Airtel consolidated net profit soared 460.93% to Rs 16,134.6 crore in Q3 FY25 as against Rs 2,876.4 crore reported in Q3 FY24. Revenue from operations increased 19.07% YoY to Rs 45,129.3 crore in Q3 FY25, Hero Motocorp reported 1.3% increase in consolidated net profit to Rs 1,107.55 crore in Q3 FY25 as compared with Rs 1093.41 crore in Q3 FY24. Net sales jumped 4.8% YoY to Rs 10,259.89 crore in Q3 FY25. Britannia Industries' consolidated net profit increased 4.6% to Rs 581.69 crore on 6.5% jump in net sales to Rs 4,463.30 crore in Q3 FY25 over Q3 FY24. Zomato's board approved the change in the name from 'Zomato Limited' to 'Eternal Limited'. The company's corporate website will transition from zomato.com to eternal.com. It will also change its stock ticker from ZOMATO to ETERNAL. Dr Reddy's Laboratories' subsidiary, Dr. Reddy's Swiss and Shanghai Henlius Biotech have entered into a license agreement for an in-licensing deal to register and commercialize the subcutaneous and intravenous formulations of the biosimilar product, 'Daratumumab' developed by Henlius.Powered by Capital Market - Live

Net profit of ITC declined 7.51% to Rs 4934.80 crore in the quarter ended December 2024 as against Rs 5335.23 crore during the previous quarter ended December 2023. Sales rose 8.94% to Rs 18580.36 crore in the quarter ended December 2024 as against Rs 17054.87 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales18580.3617054.87 9 OPM %34.2436.41 - PBDT6952.046849.61 1 PBT6536.066465.57 1 NP4934.805335.23 -8 Powered by Capital Market - Live

ITC announced that the Board of Directors of the Company at its meeting held on 6 February 2025, inter alia, have recommended the interim dividend of Rs 6.5 per equity Share (i.e. 650%) , subject to the approval of the shareholders.Powered by Capital Market - Live

ITC Ltd is up for a third straight session today. The stock is quoting at Rs 459.35, up 2.65% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.46% on the day, quoting at 23399.15. The Sensex is at 77248.29, down 0.33%. ITC Ltd has slipped around 0.71% in last one month. Meanwhile, Nifty FMCG index of which ITC Ltd is a constituent, has slipped around 1.27% in last one month and is currently quoting at 56691.95, up 3.02% on the day. The volume in the stock stood at 170.9 lakh shares today, compared to the daily average of 158.93 lakh shares in last one month. The benchmark February futures contract for the stock is quoting at Rs 460, up 3.58% on the day. ITC Ltd is up 10.33% in last one year as compared to a 7.07% jump in NIFTY and a 5.96% jump in the Nifty FMCG index.The PE of the stock is 27.19 based on TTM earnings ending September 24.Powered by Capital Market - Live

ITC has allotted 76,911 ordinary shares upon exercise of 76,911 Options by Optionees under the Company's Employee Stock Option Schemes. Consequently, with effect from 31 January 2025, the Issued and Subscribed Share Capital of the Company stands increased to Rs 1251,24,79,501/- divided into 1251,24,79,501 Ordinary Shares of Rs 1/- each.Powered by Capital Market - Live

ITC will hold a meeting of the Board of Directors of the Company on 6 February 2025.Powered by Capital Market - Live

The Board of ITC Hotels at its meeting held on 11 January 2025 has allotted 125,11,71,040 equity shares of Re 1/- each to the shareholders of ITC as on the Record Date i.e., 6 January, 2025, pursuant to the Scheme of Arrangement amongst ITC and ITCHL and their respective shareholders and creditors. Powered by Capital Market - Live