Operates a diversified portfolio spanning cigarettes, packaged FMCG goods, paperboards and packaging, and agri commodities. The cigarette business is the largest revenue contributor at Rs 40,601 cr in FY26, accounting for 40.8% of segment revenue. The FMCG-Others segment covers packaged foods, personal care, stationery and lifestyle retailing. The agri business handles leaf tobacco, wheat, rice, spices and other farm inputs and outputs, while Paperboards, Paper & Packaging brought in Rs 8,768.58 cr. The company recently completed the acquisition of Century Pulp and Paper, expected to lift paper capacity by 50%, and has lined up Rs 20,000 cr of planned capex with 6 projects in the pipeline. Materials are the largest cost input at 29.2% of revenue, followed by other operating expenses at 25.9% and employees at 7.5%. A sharp cigarette tax hike from February 2026 raised GST to 40% of retail price, and excise duty in Q1 FY27 rose over 7x to Rs 10,036 cr after GST Compensation Cess expiry, compressing that quarter's cigarette EBIT by 35%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. FMCG - Cigarettes (41%), FMCG - Others (24%), Agri Business (21%), Paperboards, Paper & Packaging (9%), Others (5%). Diversified, asset-heavy FMCG conglomerate with a high-margin regulated cigarette business funding expansion into lower-margin packaged goods, paper and agri.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 65,205 | 76,518 | 76,840 | 81,613 | 89,913 |
| EBITDA (ex other income) | 20,658 | 25,738 | 26,247 | 25,978 | 27,026 |
| margin % | 31.7 | 33.6 | 34.2 | 31.8 | 30.1 |
| Owners' profit | 15,243 | 19,192 | 20,459 | 34,747 | 20,689 |
| EPS, as reported (₹) | 12.37 | 15.50 | 16.42 | 27.79 | 16.52 |
| ROE % · ROCE % | 24.7 · 31.9 | 28.0 · 35.9 | 27.7 · 34.8 | 49.8 · 36.4 | 28.8 · 36.0 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 |
| Cash from operations | 15,776 | 18,878 | 17,179 | 17,627 | 18,464 |
| Capex | (2,142) | (2,743) | (3,563) | (2,279) | (2,183) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 22,282 | 20,350 | 20,376 | 23,129 | 21,256 | 21,707 | 23,821 | 29,523 |
| Profit before tax | 6,840 | 6,532 | 6,738 | 7,059 | 6,912 | 6,652 | 7,033 | 5,775 |
| Net profit | 5,054 | 5,013 | 19,808 | 5,343 | 5,187 | 5,018 | 5,470 | 4,509 |
| EPS (₹) | 3.99 | 3.95 | 15.77 | 4.19 | 4.09 | 3.94 | 4.30 | 3.51 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| FMCG - Cigarettes | 40,601 | 40.8 |
| FMCG - Others | 24,322 | 24.4 |
| Agri Business | 20,787 | 20.9 |
| Paperboards, Paper & Packaging | 8,769 | 8.8 |
| Others | 5,036 | 5.1 |
| Total, before eliminations | 99,515 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · ITC to attend Jefferies and J.P. Morgan India investor conferences | board shareholder meetings | low | — | — |
| 1 Sept 2026 · ITC subsidiary ITC Infotech amalgamates two step-down units | strategic transactions | medium | — | — |
| 31 Aug 2026 · ITC Infotech to acquire 22.1% in Happiest Minds, then merge; lists on BSE/NSE | strategic transactions | high | — | — |
| 14 Aug 2026 · ITC to attend Motilal Oswal Global Investor Conference 2026 | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Newspaper notice about loss of ITC share certificates | compliance | minimal | — | — |
| 4 Aug 2026 · ITC to attend Nuvama India Investor Conference 2026 in Singapore | board shareholder meetings | low | — | — |
| 1 Aug 2026 · ITC completes acquisition of Century Pulp and Paper from Aditya Birla Real Estate | strategic transactions | high | — | — |
| 31 Jul 2026 · ITC Q1 FY27: FMCG Strong, Cigarettes Hit by Tax Hike | investor communications | medium | — | — |
| 31 Jul 2026 · ITC Q1 FY27: Revenue up 28% but standalone PAT falls 27% on cigarette tax | results | high | — | — |
| 31 Jul 2026 · ITC submits June 2026 quarter financial results to exchanges | results | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| HINDUSTAN UNILEVER LTD. |
| 4,52,845 |
| 30.3 |
| 9.24 |
| 28.9 |
| 30.7 |
| 21.5 |
| 6.5 |
| 23.4 |
| ITC LTD ◆ | 3,25,579 | 16.4 | 4.47 | 11.1 | 28.8 | 35.9 | 11.1 | 21.1 |
| HINDUSTAN FOODS LIMITED | 7,490 | 47.8 | 6.43 | 22.8 | 12.8 | 9.8 | 25.1 | 8.8 |
| GODAVARI BIOREFINERIES L | 1,198 | 7800.0 | 1.52 | 15.8 | 0.4 | 0.4 | — | 0.5 |
| RANA SUGARS LTD. | 226 | 39.7 | 0.38 | — | 4.0 | 4.9 | — | (1.7) |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 16.4 | 16.3 | 160 of 316 | 50% |
| P/B | 4.5 | 1.8 | 214 of 280 | 24% |
| ROCE | 35.9 | 7.5 | 15 of 335 | 96% |
| ROE | 28.8 | 7.3 | 22 of 294 | 93% |
| Debt / Equity | 0.0 | 0.3 | 81 of 294 | 73% |
| EBITDA margin | 21.1 | 8.3 | 46 of 272 | 83% |
| Revenue growth | 27.6 | 9.8 | 74 of 273 | 73% |
| Profit growth | (15.6) | 12.9 | 183 of 276 | 34% |
| Market cap | 325579 | 156 | 2 of 340 | 100% |
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| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
