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ITC
SectorFMCG
ITC Ltd is an Indian conglomerate with diverse business interests. Its main segments include FMCG (cigarettes, personal care, food products, stationery), hotels, paperboards, paper and packaging, and agribusiness. The company operates over 130 hotels across India under various brands. ITC's FMCG portfolio includes cigarettes, cigars, personal care items, safety matches, agarbattis, and packaged foods. The paperboards segment produces specialty paper and packaging materials. The agribusiness division deals in commodities like wheat, rice, spices, coffee, soya, and leaf tobacco. ITC has multiple subsidiaries and has expanded through acquisitions and new product launches in recent years.
In the news
ITC Q2 Results Announcement Set for November 2
ITC Hotels signs 104-key Welcomhotel in Manesar, NCR
GQG's ITC Exit: What Really Happened
ITC shares tumble 4% after ₹9,395-crore GQG Partners stake sale
ITC's Earnings Reset and Citi's Bullish Turn: A New Chapter Begins?
ITC rallies 5% to 6-month high after Citi upgrade, GQG sells ₹9,400 cr stake
ITC's Yoga Bar Gamble: Digital-First Nutrition Meets Old-School Scale
ITC Market Cap Falls Below ₹3.4 Lakh Crore After 34% Drop in 2026
ITC's Sanjiv Puri on 116-year journey, diversification success
ITC completes Sproutlife acquisition for ₹900 crore total investment
ITC's Dairy Gamble in Eastern India
ITC Hotels Reports Strong Q3 Performance, Expands Dairy Business
ITC's Pricing Strategy: Balancing Tax Pressures and Market Share
ITC Raises Gold Flake Premium Prices by 8% in September
ITC Acquires Century Pulp to Become India's Largest Paper Business
ITC, Yes Bank, Godavari Biorefineries Lead Market Rally
ITC Shares Rally 2.62% on Cigarette Price Hikes, 360 ONE Sees 65% Upside
FSSAI's Regulatory Crackdown: Compliance Costs and Strategic Shifts in India's FMCG Sector
Aashirvaad's Expansion: How ITC Is Driving Consumer Spending Growth
ITC targets ₹20,000 cr Aashirvaad spending in 5 years
The Quarter story
The two most recent quarterly results, compared side-by-side.
ITC drives strong top-line growth and digital expansion, but rising costs and finance expenses compress overall profitability.
Digital-first & Organic portfolio ARR grows from ₹1,000 Cr to ₹1,500 Cr from Q1 FY26 to Q1 FY27 — validating successful channel expansion.
Consolidated EBITDA falls from ₹6,816 Cr to ₹5,181 Cr from Q1 FY26 to Q1 FY27 — signaling margin pressure from input costs.
Paperboards & Packaging revenue rises from ₹2,116 Cr to ₹2,307 Cr from Q1 FY26 to Q1 FY27 — confirming steady demand across packaging lines.
Finance cost rises from ₹13 Cr to ₹34 Cr from Q1 FY26 to Q1 FY27 — reflecting higher debt servicing burdens.
Value Added Agri Products growth multiple improves from 2.2x to 3.7x from Q1 FY26 to Q1 FY27 — signaling strong product mix recovery.
Profit before tax drops from ₹6,545 Cr to ₹4,759 Cr from Q1 FY26 to Q1 FY27 — indicating weakening profitability.
Cloud kitchen footprint expands from 60 to 75 from Q2 FY26 to Q1 FY27 — reflecting strategic network optimization.
Exceptional items swing from -₹88 Cr to ₹406 Cr from Q2 FY26 to Q1 FY27 — showing volatile one-off gains boosting the bottom line.
Consolidated gross revenue climbs from ₹20,911 Cr to ₹26,794 Cr from Q1 FY26 to Q1 FY27 — driven by strong volume growth.
Fresh Food Business city presence holds steady at 5 from Q2 FY26 to Q1 FY27 — signaling a focused but slow geographic expansion.
Company insights, generated from the most recent coverage.
ITC's Q1 FY27 is the clearest priced-in proof of the volume-vs-margin trade-off: it held price rises below full pass-through, took cigarette segment results down 35% to ₹3,341 Cr on 25% lower net revenue, and bought customer retention with that margin.
Illicit trade is the binding constraint on ITC's pricing, not consumer resistance: each hike widens the arbitrage for illegal sticks, so the ceiling on pass-through is set by enforcement capacity rather than demand elasticity.
Management calling the year ahead 'extremely challenging' while describing pricing as 'staggered and agile' signals more price steps are coming — margin recovery is a multi-quarter grind, not a Q2 FY27 event.