ITC Ltd. will announce its second-quarter results for FY27 on Monday, November 2, with the company's board set to consider and approve its financial performance for the quarter ended September 30, 2026. According to reports from the company, the board will consider the unaudited standalone and consolidated financial results for the July-September quarter, along with the results for the first six months of the current financial year. The company informed stock exchanges about the scheduled board meeting in a regulatory filing dated October 16.
According to HDFC Securities' earnings report on the Indian FMCG sector, ITC may report a year-on-year decline in net income for Q2 FY27. The brokerage estimates that revenue may grow by 7% to about ₹20,816 crore, but EBITDA is estimated to fall by 24% to ₹5,094 crore, and adjusted PAT by 24% to ₹3,846 crore. HDFC Securities attributes this decline primarily to the company's cigarette business, which faces pressure from newly levied taxes. The brokerage estimates ITC's EBITDA margin at 24.5%, down about 990 basis points year-on-year.
The expected decline in profitability is largely attributed to recent cigarette taxation measures. As reported by Reuters, the Government of India imposed excise duty on cigarettes between ₹2,050 and ₹8,500 per thousand sticks, in addition to a 40% consumption tax. SEBI-registered market expert Anuj Gupta explained that while ITC's cigarette revenue is hitting the company's profit dearly, the company is not responsible for this slump but the newly levied taxes are. ITC's staggered price increases are intended to recover costs while limiting volume losses and migration to illicit products.
ITC share price today finished marginally lower at ₹263.50 apiece on the NSE, delivering a zero return over the past year and sliding over 35%. In year-to-date terms, the stock has shed over 25%, while in six months, it has declined 14%. Market expert Mahesh M Ojha suggests that ITC share price has strong support at ₹246, advising existing shareholders to hold the scrip with a stop-loss at ₹246. He expects the stock to touch ₹275 in the near-term on a potential bounce back, while fresh investors can buy at current market price with a stop-loss at ₹246 for the near-term target of ₹275.
