ITC
ITC: News
September 2026: ITC Infotech and Happiest Minds Announce Merger to Create an AI-First Technology Services Enterprise ITC Infotech India Limited, a wholly owned subsidiary of tobacco-to-FMCG conglomerate ITC, and Happiest Minds Technologies Limited have signed definitive agreements to merge their operations in a transaction designed to create a scaled, AI-first
ITC: Q1 FY27 Results
Executive Summary: Earnings Compression Driven by Cigarette Tax Adjustments ITC Limited’s Q1 FY2026/27 (Q1 FY27) financial results for the quarter ended June 30, 2026, present a narrative of dual operational realities. The company faced sharp profitability compression in its core Cigarettes business due to severe statutory tax hikes enacted earlier
ITC: FY26 Results
ITC Limited has demonstrated a resilient financial performance for the fourth quarter ended March 31, 2026 (Q4 FY26), and the full fiscal year (FY26). This performance was delivered against a backdrop of global logistical friction arising from the ongoing Iran conflict and a milestone restructuring of domestic cigarette taxation. On
ITC: Business Outlook
March 2026: ITC Faces Earnings Uncertainty as Tax Hikes and Margin Pressures Weigh on Outlook ITC Limited shares have declined to 30-month lows and are now trading below the ₹300 mark, roughly 40% below their all-time high near ₹500. The decline follows recent cigarette tax increases and concerns that price
ITC: Q3 2026 Results
Key Business Metrics: Q3 2026 – New reporting structure: Standalone (core businesses) vs. Consolidated (including ITC Infotech India Limited, Surya Nepal Private Limited and ITC Hotels Limited) – bei: before exceptional items – Gross Revenue up +7.1%, driven by double-digit revenue growth in FMCG and sustained momentum in cigarettes business
ITC: Q2 2026 Results
Key Business Metrics: Q2 2026 – New reporting structure: Standalone (core businesses) vs. Consolidated (including ITC Infotech India Limited, Surya Nepal Private Limited and ITC Hotels Limited) – Gross Revenue up +7.1%, excluding Agriculture business, driven by Cigarettes and FMCG – Overall EBITDA up +2.1% (ex-paper, up +3.2%); EBITDA margin
ITC: Q1 2026 Results
Key Business Metrics: Q1 2026 – New reporting structure: Standalone (core businesses) vs. Consolidated (including ITC Infotech India Limited, Surya Nepal Private Limited and ITC Hotels Limited) – Gross Revenue is up +20% driven by Cigarettes, Agri Business and FMCG (ex-Notebooks) – EBITDA is up +3% (ex-Paper is up +5%);
ITC: Q4 2025 & FY25 Results
Key Business Metrics: Q4 2025 & FY25 – Q4 2025: Gross Revenue up +9.2% and Operating Profit up +2.5% (ex-Paper, up +4.2%) – FY25: Gross Revenue up +10.2% and Operating Profit up +2.3% (ex- Paper, up +4.4%) – Resilient performance amidst a subdued demand environment and sharp escalation in input
ITC: Q3 FY25 Results
Key Business Metrics: Q3 2025 Gross Revenue is up +8% and EBITDA is up +3% (ex-paper +4.5%) despite a subdued demand environment and sharp escalation in key input materials (e.g. edible oil, wheat, potato, leaf tobacco, wood) Hotels Business demerged into ITC Hotels Limited (ITCHL) with effect from January 1,
ITC: Q2 FY25 Results
Key Business Metrics: Q2 2025 Gross Revenue is up +16%, driven mainly by Hotels (+12%) and Agriculture (+47%; specifically, the value-added agricultural products and leaf tobacco). Subdued demand conditions, unusually heavy rains in parts of the country, high food inflation and sharp escalation in certain input costs (leaf, wood etc.)
ITC: Q1 FY25 Results
Key Business Metrics: Q1 2025 Gross Revenue is up +7.3%, driven mainly by Hotels, value-added agricultural products and leaf tobacco. FMCG segment, both Cigarettes (+6.1%) and Others (+6.3%), delivered resilient performance amid subdued demand conditions. Paper segment (-6.8%) is under pressure largely due to the cheap Chinese supplies in global
ITC: FY24 Results
Key Business Metrics: Q4 2024 Gross Revenue is up +2% driven by resilient performance in Cigarettes (+7.7%) and FMCG Others (+7.2%). Gross Revenue (ex-Agri Business) is up +6.0%. Profit (before tax) is down -1%. Profit (after tax) is down -1.3%. Q4 2024 EPS (diluted): ₹4.02 (down -1.5% from ₹4.08) Key
ITC: Q3 FY24 Results
Key Business Metrics Gross Revenue is up +2.1%. Gross Revenue (ex-Agri Business) is up +3.9%. Profit (before exceptional items & tax) is up +0.8%. Profit (after tax) is up +10.8%. Quarterly EPS is up +10% (year-on-year basis) to ₹4.47. Cigarette Segment: 40% weight in gross revenue, 78.5% weight in operating
ITC: 2023 Investor Day
Transformation of the Business Portfolio ITC continues the pursuit of diversifying its business and reducing its reliance on tobacco: revenue and profit from non-tobacco businesses (FMCG; Agriculture; Paperboards, Paper & Packaging; Hotels) have increased by 150% and 220%, respectively over the past decade – coupled with +730bps expansion in return
ITC: Q2 FY24 Results
Key Business Metrics Gross revenue is up +3.4%. Gross revenue (excluding wheat & rice exports) is up +8.9%. Wheat & Rice exports: Geopolitical tensions & climate emergencies raise concerns on food security and trade restrictions are imposed by the Government (stock limits on wheat, ban on non-basmati rice exports and
The BAT – ITC Saga
ITC is the tobacco market leader in India, world’s most populous country, and is the fourth largest publicly-traded tobacco company in the world by market cap. ITC is also the seventh largest Indian company by market cap – a list led by giants like Reliance Industries, TATA and HDFC. Brief
