Is It The Right Time To Buy ITC?

Low margins and high cigarette taxation have dented ITC’s growth   

Published 2 years ago on Mar 25, 2019 1 minute Read

Rakshit Ranjan, Portfolio manager, Marcellus Investment Managers

ITC has strong competitive advantages in its cigarettes business due to raw material procurement, consistency of product quality, and a widespread distribution to over 10 million points of sale. This enables the firm to maintain 100% ROCE in the cigarettes business, while retaining its market share and delivering a healthy 12-14% EBIT CAGR for cigarettes. The company has also consistently passe


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