ITC (ITC) Q1 25/26 earnings summary

Executive summary

• Gross revenue grew 19.8% year-over-year on a standalone basis and 19.6% on a consolidated basis in Q1 FY26, with resilient performance across major segments despite a challenging macro environment.

• Unaudited standalone and consolidated financial results for the quarter ended 30 June 2025 were approved by the Board on 1 August 2025, with limited review reports issued by statutory auditors confirming no material misstatements.

• The quarter reflects the impact of the demerger of the Hotels Business (excluding ITC Grand Central, Mumbai) as discontinued operations, with comparative information restated accordingly.

• Strong contributions from group companies, notably ITC Infotech, Surya Nepal, and ITC Hotels, supported consolidated results.

• FMCG Others segment saw a pickup in revenue growth momentum, while Agri Business posted robust gains from commodity trading and exports.

Financial highlights

• Standalone gross revenue: ₹20,911 crore, up 19.8% year-over-year; EBITDA: ₹6,261 crore, up 2.9%; PAT: ₹4,912 crore, up 1.9%.

• Consolidated gross revenue: ₹23,007 crore, up 19.6% year-over-year; EBITDA: ₹6,816 crore, up 4.2%; PAT: ₹5,343 crore, up 4.9%.

• Standalone total income from continuing operations was ₹21,721.06 crore, up from ₹18,291.56 crore year-over-year; consolidated total income was ₹23,811.56 crore, up from ₹20,032.78 crore.

• Agri Business revenue surged 38.9% year-over-year to ₹9,685 crore; segment results up 21.9%.

• Paperboards, Paper & Packaging revenue rose 7% year-over-year, but segment results declined 37.8% due to margin pressures.

Outlook and guidance

• FY26 GDP expected to grow by 6.5%, with macro fundamentals remaining resilient and rural demand showing strength.

• Company strategy focuses on innovation, digital transformation, and sustainability to drive future growth.

• The company continues to focus on growth across FMCG, Paperboards, Paper & Packaging, and Agri Business, leveraging core competencies and a multi-business strategy.