ITC Ltd 2x Multibagger खरीदने का मौका या और गिरेगा Full and Complete analysis in Hindi

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---------------------Packaged goods to hotels conglomerate ITC Ltd on Thursday said that 70-80 of its 120 manufacturing locations in India, including those operated by third-party vendors, are currently operational, running at anywhere between 20% to 60% capacity a month in to India’s lockdown. Sanjiv Puri, the company’s chairman and managing director, also called for a revival of manufacturing and agriculture value chains in non-containment zones in the country, which he said could help kickstart economic activity, even as he welcomed measures taken by the government to balance lives and livelihoods.

On March 27th, a few days in to India’s lock down, ITC Ltd informed the stock exchanges that the company’s factories that manufacture essential items like atta, noodles, biscuits, snacks, soaps, sanitizers are operating partially, with limited workforce.

The maker of Yippee noodles, and Aashirvaad atta said that over the last month it has continued to focus on manufacturing categories where consumer demand remains strong ie—packaged foods, staple, soaps, hygiene products etc.
“The current capacity utilizations are in the region varying as low as 20-25% to 50-60%, depending on the location. And even within these factories, we are running lines where we are seeing visibility of demand, we are not running lines where demand is not there," Puri told reporters on a digital conference on Thursday.

Puri said that for economic activity to resume and demand to recover the entire manufacturing and agri-related value chains will need to function, especially outside containment zones. “For manufacturing, the value chain will need to work end to end. People cannot just manufacture and accumulate inventory. Also the agriculture value chain needs to get functional, because this is where the majority of the direct employment and unemployment is indexed. We need to get that piece going," Puri told reporters over a Zoom call.
India is currently in the middle of a strict lockdown that has been extended till May 03, as the country takes firm measures to curb the spread of the pandemic.

Even as India moved to ease some activity post April 20th, activity in the country’s containment zones remains restricted.

On Thursday, Fitch Ratings slashed its FY21 growth forecast for India to 0.8% from 2%, and said that consumer spending will decline to 0.3% in FY21 from 5.5% in FY20, in what spells bad news for consumer goods companies.

Reduced economic activity have also impacted revenue streams at ITC's key tobacco and hotels businesses. On future demand forecasts, Puri said, “it all depends on how economic activity picks up and how the economy comes back."
However, he added that it could take another quarter till reasonable capacity utilization for the industry kicks in.

“Because your vendors could be in containment zones, and then logistics have to be stabilized; you have to get enough manpower in the system, and demand has to sufficiently pick up. So it will take a while, maybe a quarter, for some reasonable level of capacity utilization (for the industry) to come in," he said.

To be sure, in 2015, ITC had set a target of garnering a revenue of ₹1 lakh crore by 2030 from its FMCG business.

The company has also scaled up launches of personal hygiene products in the last month, a trend that Puri says will become mainstay going forward, as post-covid, consumers will focus more on health and hygiene.
ITC isn’t alone to face disruptions in its business. Several large and small packaged consumer goods firm have had to temporarily suspend operations or scale back on production as India announced a lockdown late March. While some say they have resumed production, they continue to do so at very limited capacities. Many companies said they are still facing manpower shortage, and paucity of raw materials, especially in areas where vendors are located in containment zones.

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