Brokerages anticipate total revenue to climb by 7%, but overall EBITDA could tumble by 24% alongside a double-digit decline in adjusted net profit. The FMCG segment remains a bright spot, with Motilal Oswal Financial Services projecting 14% revenue expansion and 10% EBIT growth. Conversely, cigarette EBIT is forecasted to drop by 28% year-over-year as insufficient price increases fail to offset rising input pressures.
Key points
Insufficient price hikes and elevated excise expenses are causing major margin contractio…: Insufficient price hikes and elevated excise expenses are causing major margin contraction across the core cigarette portfolio.
Growth in the broader FMCG business will partially soften top-line pressures but cannot o…: Growth in the broader FMCG business will partially soften top-line pressures but cannot offset the steep drop in company EBITDA.
Major brokerages hold divergent stances on the stock, setting price targets between ₹200…: Major brokerages hold divergent stances on the stock, setting price targets between ₹200 and ₹285 ahead of the earnings release.
Sources checked by our analysis pipeline: 1
ITC Q2 results 2026 preview: Shares of ITC Limited will remain in focus on Monday, as the FMCG major is set to announce its second quarter results for the financial year 2026-27 tomorrow. Its FMCG business may see double digit EBIT growth with flat margins, and cigarette business is expected to decline, according to experts.
ITC share price closed marginally higher on Friday, October 30. The FMCG stock has delivered 3.27% return in one week, but it has declined 27% in 2026 so far. As all eyes will be on ITC Q2 results tomorrow, here’s what to expect from the FMCG giant.
ITC Q2 results preview: What to expect on profit, revenue, EBITDA?
ITC may see 7% revenue growth during the quarter under review, whereas EBITDA may decline 24%, affected by weaker margins across segments, according to HDFC Securities report.
“We see EBIT margin to remain stressed. We see consolidated segment EBIT to see 20% decline YoY,” stated the brokerage in its report. The consumer goods giant may see double digit decline in its adjusted profit after tax (PAT)
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