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Systematix Research Report
ITC Ltd. reported largely in-line Q4 FY21 results.
Cigarette sales volumes grew ~8% YoY (on a muted base of down 10% YoY) led by increased mobility in metros and large towns in H2 FY21.
Fast moving consumer goods business (excluding education and stationery products) grew 16% YoY led by a strong recovery in discretionary and out-of-home portfolio (up 23% YoY), while staples and health and hygiene portfolio saw stable growth (up 13% YoY).
To cater to consumer needs, the company launched 120 plus new products in FY21 and strengthened its distribution reach.
The e-commerce channel continued to witness robust growth and its contribution to FMCG sales grew to ~5%.
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