ITC Result

ITC's cigarette and FMCG segments delivered steady performance in Q2 FY26 despite a slump in agri sales; analysts see scope for a valuation re-rating as core margins improve

Brokerages were unanimous that the non-cigarette FMCG business remains a bright spot in ITC's portfolio.

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Consumer spend on ITC's FMCG brands grew 4.6 per cent to over Rs 34,000 crore in FY25, with rural demand holding up despite muted growth across the broader sector

ITC's stock rose as much as 1.98 per cent after it reported a multifold increase in its profit for the fourth quarter

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ITC's consolidated profit for the period came in at Rs 5,054.4 crore, up 1.8 per cent year-on-year (Y-o-Y), from Rs 4,964.5 crore in the same quarter a year ago (Q2FY24).

Revenue rises 16% in Q2FY25; cigarette segment records 6.6% Y-o-Y growth in revenue

Diversified entity ITC Ltd on Thursday reported an 1.8 per cent increase in consolidated net profit to Rs 5,054.43 crore for the second quarter ended September 2024. The company had posted a consolidated net profit of Rs 4,964.52 crore in the year-ago period, according to a regulatory filing from ITC. ITC's revenue from operations jumped 15.62 per cent to Rs 22,281.89 crore in the September quarter. It was Rs 19,270.02 crore in the corresponding quarter of the previous fiscal. The total expenses were 20.92 per cent higher in the September quarter to Rs 16,056.86 crore. ITC's revenue from operations grew 15.62 per cent to Rs 22,281.89 crore in the second quarter of FY25. The total income of ITC, which includes other income, rose 14.86 per cent to Rs 22,897.85 crore. It was Rs 19,934.9 crore a year ago. Shares of ITC Ltd on Thursday settled at Rs 471.85 per scrip on BSE, down 1.81 per cent from its previous close.

Investors will closely monitor quarterly earnings reports alongside manufacturing, composite, and services data for October

Analysts will monitor the demand outlook on rural as compared to urban, competitive intensity, raw material trends, hotels & agri business outlook

At 9:17 AM, ITC shares were trading nearly 0.50 per cent lower at Rs 439.45 per share. In comparison, S&P BSE Sensex was down 0.14 per cent at 75,309.65 levels

Says public investment strong, consumption demand relatively subdued

Cigarette, FMCG (non-cigarette), and hotel segment top performers

Some investors may have preferred a vertical split (100 per cent direct). This move will not likely have a big implication for ITC's share price, wrote analysts at Jefferies in a note

ITC Q4FY23 result preview: The core Cigarette business volumes are expected to grow 13 per cent YoY, as per three brokerages. This pace of increase was 15 per cent in Q3FY23

Revenues from the non-cigarettes FMCG segment was at Rs 4,848.95 crore compared to Rs 4,099.47 crore

Post Q2 results, most brokerages have either recommended a 'buy' and an 'accumulate' rating on ITC with target prices in the range of Rs 365 to Rs 405