ITC (ITC) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 saw robust gross revenue growth of 28% YoY on both standalone and consolidated bases, driven by strong performances in FMCG, Paperboards, and Fresh Food businesses.

• Unaudited standalone and consolidated financial results for the quarter ended 30th June 2026 were approved by the Board and subjected to a limited review with unmodified auditor reports.

• Net revenue declined YoY due to a sharp drop in Agri business and the impact of exceptional items.

• Group companies, including ITC Infotech, SNPL, SFPL, and ITCHL, contributed significantly to consolidated results.

• Sproutlife Foods Private Limited became a subsidiary effective 1st April 2026, and Mother Sparsh Baby Care Private Limited became an associate with a 49.32% stake.

Financial highlights

• Standalone gross revenue: ₹26,943.23 Cr (+28% YoY); net revenue: ₹16,812 Cr (-14.4% YoY); net profit after tax: ₹3,578.82 Cr.

• Consolidated gross revenue: ₹29,523.30 Cr (+27.8% YoY); net revenue: ₹18,955 Cr (-11% YoY); net profit after tax: ₹4,508.79 Cr.

• Standalone EBITDA: ₹4,514 Cr (-27.9% YoY); consolidated EBITDA: ₹5,181 Cr (-24% YoY); PAT (before exceptional items): ₹4,103 Cr (-23.2% YoY).

• Basic EPS for Q1 FY27 was ₹2.86 standalone and ₹3.51 consolidated.

• Exceptional gain from Sproutlife acquisition recognized in Q1 FY27, with a remeasurement gain of ₹405.88 Cr.

Outlook and guidance

• FY27 real GDP growth for India expected at 6.4%, with resilient domestic demand but global growth slowing.

• Financial results for the quarter include the impact of the acquisition of Sproutlife Foods and increased excise duty on cigarettes, making comparisons with previous periods not strictly comparable.

• Key monitorables include West Asia conflict, El Nino effects, inflationary pressures, and trade disruptions.