ITC Q2 Results 2025 Highlights: Profit jumps 4% YoY to ₹5,187 crore; revenue dips marginally

ITC Q2 Results 2025: The board recommended the “appointment of Mr. Amitabh Kant (DIN: 00222708) as a Director and also as an Independent Director of the Company for a period of five years with effect from 1st January, 2026; (ii) re-appointment of Mr. Hemant Malik (DIN: 06435812) as a Director, liable to retire by rotation, and also as a Wholetime Director of the Company for a period of two years with effect from 12th August, 2026,” according to the official announcement.

ITC Q2 Results 2025: ITC's board of directors approved the voluntary delisting from Calcutta Stock Exchange on Thursday, 30 October 2025.

“Approval for voluntary delisting of the Ordinary Shares of the Company from The Calcutta Stock Exchange Limited (CSE): Approved voluntary delisting of the Company's Ordinary Shares from CSE, pursuant to Regulations 5 and 6 of the SEBI (Delisting of Equity Shares) Regulations, 2021. The Ordinary Shares of the Company will continue to remain listed on the National Stock Exchange of India Limited and BSE Limited, providing nationwide trading facilities,” the company said.

FoodTech Business, a new vector of growth envisioned in the ITC Next strategy, leverages the Company’s institutional strengths in Foods Science & Manufacturing, FMCG Food brands and Culinary expertise to tap into the fast-growing online food services segment.

• A delectable range of cuisines is today being offered under 4 brands - ‘ITC Master Chef Creations’, ‘ITC Aashirvaad Soul Creations’, ‘ITC Sunfeast Baked Creations’ and ‘Sansho by ITC Master Chef’.

• The full-stack food-tech platform has scaled up to over 60 cloud kitchens across 5 cities and is now being progressively introduced across India; 7 new Kitchens opened during the quarter.

• GMV crossed Rs. 90 cr. in H1 FY26 (FY25 GMV appx. Rs.105 cr).

The Paperboards, Paper & Packaging segment reported an improvement in performance sequentially, with profit up 17% and margins expanding by 90 bps quarter-on-quarter. The operating environment, however, remained challenging due to the sustained influx of low-priced supplies into global markets, including India, elevated domestic wood prices, and subdued realisations. There were initial signs of moderation in wood prices owing to improving availability.

Segment revenue grew 5% year-on-year, driven by volume growth, with the speciality paper segment posting robust performance. The business continued its sharp focus on portfolio augmentation and structural cost management to mitigate near-term challenges.

A Minimum Import Price was imposed on Virgin Multi-layer Paperboard effective August 22, 2025, and the Directorate General of Trade has recommended anti-dumping duties on supplies from China and Chile, while an investigation into imports from Indonesia is underway. The industry continues to engage with policymakers to implement safeguard measures against the surge of low-priced coated and uncoated paper imports.

The business remains focused on accelerating plantations in core areas, developing new regions, collaborating with other wood-based industries, and implementing satellite-based plantation monitoring systems. The Packaging and Printing business witnessed a sequential uptick in domestic demand and continued to drive new business development through innovative and customised solutions. The sustainable paperboards and packaging solutions portfolio maintained strong growth momentum, leveraging cutting-edge innovation platforms, and has expanded 2.6 times over the past four years.

Agri Business Segment performance during the quarter reflects timing difference and high base effect; H1 Segment Revenue up 7%; H1 Segment Results up 10%.

• Leaf Tobacco posted strong growth; the Business continues to leverage its crop development expertise, superior product quality, and strong customer relationships.

• Value-added Agri exports during the quarter were relatively subdued due to delayed call-offs by customers amid uncertainty on account of US tariffs. The Business remains focused on market development in new geographies and scaling up the value-added portfolio leveraging structural capabilities (sourcing, processing) and strong customer relationships.

• The Business continued to provide strategic sourcing support with traceability to the Branded Packaged Foods & Cigarette Businesses, with sharply aligned procurement strategies in line with category-relevant market dynamics.

Differentiated variants and the premium segment registered strong growth, leveraging mainstream trademarks and innovation.

The strategic portfolio and market interventions with a focus on competitive belts and to counter illicit trade drive volume-led growth and reinforce market standing, said ITC.

The company continued focus on fortifying last-mile execution capability.

Leaf tobacco consumption cost remains elevated, partly mitigated through product mix enrichment and cost management interventions. Moderation in leaf tobacco procurement prices is witnessed in the current crop cycle.

As seen in the past, stability in taxes on cigarettes, backed by deterrent actions by enforcement agencies, enables volume recovery for the legal cigarette industry from illicit trade, leading to higher demand for Indian tobaccos and bolstering revenue to the exchequer from the tobacco sector, said ITC

• As commodity prices stabilised at elevated levels, segment EBITDA margins came in at 10% (vs Q2FY25 10.6%; Q1FY26 9.4%).
• Smart net revenue management and ongoing price-volume-value rebalancing & focused cost management initiatives amidst input price volatility
• Sustained competitive levels of trade & marketing investments to support growth and market standing

• Excessive rains in many parts of the country and transition to the new GST regime posed operational challenges, causing short-term business disruptions, said ITC.
• Staples, Dairy, Premium Personal Wash & Agarbattis drove growth while strong performance continues in the premium portfolio and NewGen channels.
• Notebooks industry remains impacted on account of low-priced paper imports and opportunistic play by local/regional players, said the company.

Consolidated revenue from operations stood at ₹21,256 crore during the quarter under review, down 1.3% YoY from ₹21,536 crore in the same period a year ago.

ITC reported a 4% YoY jump in Q2 profit to ₹5186.55 crore, as against ₹4979.14 crore posted in the corresponding quarter a year ago.

Yes Securities expects ITC’s overall topline to grow by 15.2% YoY, led by 5% YoY volume growth in the cigarette business and 35% YoY growth in the agri business. The Other-FMCG and PPP businesses are expected to grow by 5% and 7% YoY, respectively.

At the company level, we expect Gross Margin and EBITDA Margin to decline by approximately 110 bps and 70 bps YoY to 50.5% and 32.2%, respectively. EBITDA and APAT are likely to grow by 12.8% and 10.9% YoY, respectively.

ITC stock ended 0.69% down at ₹418.70 on the BSE ahead of the Q2 results announcement. ITC share price hit the day's high of ₹421.85 and a low of ₹416.15.

Elara Capital sees a modest 2.8% YoY and 4.1% QoQ growth in Q2 profit to ₹5114 crore. Meanwhile, its EBITDA could jump 3.7% YoY and 1.4% QoQ to ₹6350 crore, analysts at Elara opined. They pegged the revenue at ₹19759.6 crore for Q2 FY26, a growth of 6% YoY but flat QoQ.

ITC Q2 Results 2025: ITC share price traded marginally lower ahead of Q2 results today. ITC share price was down 0.57% at ₹419.20 apiece on the BSE.

ITC Q2 Results 2025: ITC’s management’s demand outlook on rural and urban markets amid GST rate cut, cigarette volumes, competitive intensity, trends in raw material price, and outlook on agri business will be key monitorables in Q2 results today.

ITC Q2 Results 2025: Motilal Oswal expects 5% YoY growth in cigarette EBIT, though margins may contract by 100 bps due to rising leaf tobacco prices. In the FMCG business, it expects a 9% decline in EBIT, with a 100 bps margin contraction as price hikes lag behind raw material inflation. The paper segment remained weak given the influx of cheap Chinese paper. The agriculture segment performed well during the quarter.

ITC Q2 Results 2025: ITC is expected to report a net profit of ₹5,148 crore in Q2FY26, registering a growth of 3.5% from ₹4,975 crore, YoY, according to Axis Securities. Revenue is expected to rise 5.8% to ₹19,546 crore from ₹18,477 crore, YoY. EBITDA is seen growing 4.9% to ₹6,422 crore from ₹6,123 crore, while EBITDA margin is expected to fall by 29 bps to 32.9% from 33.1%, YoY.

ITC Q2 Results 2025: Axis Securities estimates around 6% YoY revenue growth for ITC as its expects cigarettes to grow 7% YoY (6% volume), FMCG to grow at 5% YoY, and Agri business to grow by 10%, whereas papers segment continued to remain weak and is expected to grow by 4% YoY on account of weak demand conditions due to cheap Chinese supplies.

ITC Q2 Results 2025: ITC share price traded marginally lower ahead of the announcement of Q2 results today. ITC stock price opened flat at ₹421.60 apiece on the BSE. The stock rose to an intraday high of ₹421.85, while it declined as much as 1.3% to an intraday low of ₹416.15 apiece. At 11:35 AM, ITC share price was trading 0.38% lower at ₹420.00 apiece on the BSE.

ITC Q2 Results 2025: Cigarette business is expected to show stable volumes and pricing, with 6% volume growth and 5% YoY cigarette EBIT growth, though margins may contract due to rising leaf tobacco prices. FMCG business EBIT is estimated to fall, with a contraction in margins as price hikes lag behind RM inflation.

ITC Q2 Results 2025: Cigarette maker ITC is expected to report modest growth in its net profit and revenue during the July-September 2025 quarter. While ITC’s cigarette business is likely to see decent revenue growth, FMCG, Agri and paper business divisions are likely to remain weak.

ITC Q2 Results 2025: FMCG major ITC will declare its Q2 results today. The board of directors of ITC is scheduled to meet today, 30 October 2025, to consider and approve the financial results for the second quarter of FY26.