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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
ITC
ITC (ITC) investor relations material
ITC Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary2 Nov, 2026
Executive summary
Consolidated net revenue rose 5.1% YoY to ₹20,454 crore; EBITDA fell 15.7% and PAT declined 18.5%, with cigarette-tax pressure weighing on results.
Non-cigarette businesses grew 18% in revenue, led by FMCG Others and Paperboards, Paper & Packaging.
Financial highlights
Consolidated gross revenue increased 44.6% to ₹30,431 crore; consolidated Q2 revenue from operations was ₹30,578.40 crore, while net revenue was ₹20,454 crore.
Consolidated EBITDA declined 15.7% to ₹5,645 crore; PBT and PAT before exceptional items fell 17.0% to ₹5,720 crore and ₹4,249 crore, respectively.
Consolidated Q2 PAT was ₹4,229.33 crore, down from ₹5,186.55 crore YoY; H1 revenue from operations was ₹60,101.70 crore and PAT was ₹8,738.12 crore.
Standalone net revenue rose 3.1% to ₹18,449 crore; EBITDA fell 17.4% to ₹5,160 crore and PAT declined 20.1% to ₹4,137 crore.
Segment performance
FMCG Others consolidated revenue rose 19% YoY (LTL 17.3%; ex-Atta 23%); segment PBIT grew 27.8% to ₹558 crore, with margin expansion despite input-cost inflation.
Cigarettes revenue rose 78.1% to ₹15,536 crore, while net revenue fell 21%; consolidated Q2 segment results declined to ₹4,044.49 crore from ₹5,462.10 crore YoY amid higher taxes.
Agri revenue rose 12.0% to ₹4,452 crore and segment results increased 11.2% to ₹511 crore; VAAP growth was led by spices and fruits & vegetables.
Paperboards, Paper & Packaging revenue grew 35.9% to ₹3,016 crore and segment results rose 47.6% to ₹282 crore; LTL revenue increased 10% and PBIT rose 52%.
Consolidated Q2 segment results were ₹576.69 crore for FMCG Others, ₹518.41 crore for Agri Business and ₹273.32 crore for Paperboards, Paper & Packaging.
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Latest events from ITC
- Gross revenue rose 28% YoY to ₹29,523.30 Cr, but net revenue and profits declined on Agri and tax headwinds.ITC
Q1 26/27 - FY26 revenue and profit rose, dividend at ₹14.5, with labor code and excise duty impacts.ITCQ4 25/26
- Q3 FY26 delivered robust revenue and profit growth, with interim dividend of ₹6.50 per share.ITCQ3 25/26
- Acquisition of Century Pulp & Paper boosts scale, profitability, and strategic positioning.ITCM&A Presentation
- ITC to acquire up to 49.3% of Mother Sparsh, expanding into the fast-growing baby care market.ITCM&A Presentation
- Acquisition of a top organic staples brand for Rs. 400 crore enhances growth and synergy potential.ITCM&A Presentation
- Q2 FY26 saw robust revenue and profit growth, driven by core segments and insurance gains.ITCQ2 25/26
- 16% YoY revenue growth driven by Agri and Hotels, with strategic moves and resilient margins.ITCQ2 24/25
- Revenue up 7.6% YoY to ₹20,029.60 crore, with strong Hotels and Agri growth.ITCQ1 24/25
Next ITC earnings date
Q3 26/2728 Jan, 2027
ITC
Next ITC earnings date
Q3 26/2728 Jan, 2027
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Frequently asked questions
ITC Limited is a diversified conglomerate with business interests in fast-moving consumer goods, hotels, paperboards, packaging, agribusiness, and information technology. The company operates well-known brands across food, personal care, and lifestyle segments. ITC Limited primarily serves the consumer goods, hospitality, and industrial sectors. The company is headquartered in Kolkata, India, and its shares are listed on the BSE.