ITC ahead of results: analysts expect FMCG growth and a tobacco business decline
Analysts expect double-digit FMCG EBIT growth at ITC and a drop in cigarettes. Second-quarter results are due tomorrow, according to Moody's.
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what happened
According to Moody's, ITC Limited shares will be in focus on Monday, as the company reports its second-quarter results for fiscal 2026-27 tomorrow. Analysts expect double-digit EBIT growth in the FMCG segment with flat margins, while the cigarette business is seen shrinking further.
HDFC Securities forecasts about 7% revenue growth for ITC and a 24% fall in EBITDA, with consolidated segment EBIT down 20% year on year. MOFSL projects 14% revenue growth in FMCG, while cigarette revenue is expected to fall 22% on an 8% drop in volume.
why it matters
The key question for the market is margin pressure in tobacco after higher excise duties and price increases that may not be enough. ITC shares have lost 27% so far in 2026. Analyst views differ: MOFSL keeps a Neutral rating with a target of Rs 285, while HDFC Securities has an Add rating with a target of Rs 200. On Friday the stock closed at Rs 265.60 on BSE, with a market capitalisation of about Rs 332,848 crore.
market impact
ITC: expectations of a weak tobacco segment and margin pressure are the main factor for the company's shares
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instruments
sources
- ITC Q2 results 2026 preview: Will cigarette business drive growth? Profit, revenue expectations - share price target — Moody's, 1 November 2026 at 17:47 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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