News

Stay up to date with the latest breaking news, analysis and commentary on Mirae Asset Sharekhan. Find live updates, exchanges, stock news, earning news and more.

ITC Q3FY26 (Standalone) results
30 Jan 2026, 1:30PM

  • ITC’s net revenues (net of excise) grew by 5.7% y-o-y to Rs. 18,017 crore, slightly lower than our expectation of Rs. 18,201 crore. Cigarette business net revenues grew by 8% y-o-y. We believe volume growth to be at ~6.5% (beating our expectation of 5-6%). Non-cigarette FMCG business grew by 11.1% y-o-y, Paper, paperboard & packaging (PPP) and Agri businesses registered revenue growth of 2.7% and 6.3% y-o-y respectively.
  • Gross margin and OPM rose by 46 bps and 63 bps y-o-y to 54.9% and 34.8%, respectively, OPM came in higher than our expectation of 33.3%.
  • Operating profit grew by 7.6% y-o-y to Rs. 6,271 crore. Higher interest cost led to 5.9% y-o-y growth in the adjusted PAT to Rs. 5,294 crore, ahead of our expectation of Rs. 5,133 crore. Company’s board has recommended an interim dividend of Rs. 6.5 per share for FY26.
  • View: We shall review our estimates and come out with a detailed note shortly. Currently we have a Buy rating on the stock. 

Results (Standalone)                                                                         Rs. crore

Particulars

Q3FY26

Q3FY25

y-o-y (%)

Q2FY26

q-o-q (%)

Net revenue

18,017.1

17,052.8

5.7

18,021.3

0.0

Operating Profit

6,271.2

5,828.3

7.6

6,252.0

0.3

Adjusted PAT

5,293.7

4,998.9

5.9

5,113.9

3.5

Exceptional item

-204.8

422.4

-

65.9

-

Reported PAT

5,088.8

5,421.3

-6.1

5,179.8

-1.8

EPS (Rs.)

4.2

4.0

5.9

4.1

3.5

 

 

 

bps

 

bps

GPM (%)

54.9

54.4

46

54.6

32

OPM (%)

34.8

34.2

63

34.7

11

NPM (%)

29.4

29.3

7

28.4

100

Tax rate (%)

23.9

23.6

30

24.4

-46

 

Actual vs estimates                                                   Rs. crore

Particulars

Q3FY26

Q3FY26E

var (%)

Net revenues

18,017.1

18,201.0

-1.0

Operating profit

6,271.2

6,059.9

3.5

Adjusted PAT

5,293.7

5,133.2

3.1

 

 

 

bps

GPM (%)

54.9

53.9

96

OPM (%)

34.8

33.3

151

Related News
Hyundai Motor India Q3 net profit rises 6.3% YoY

Q3 earnings for the Quarter ended December 31, 2025

2 Feb 2026, 3:31PM
Hyundai Motor India Q3 net profit rises 6.3% YoY

Q3 earnings for the Quarter ended December 31, 2025

2 Feb 2026, 3:30PM
Trending News
L&T bags order in the range of Rs. 2,500-5,000 cr in SaudiArabia

L&T wins order for Power Transmission & Distribution Business in Saudi Arabia

29-10-2025 10:13:15
Ramco Systems ink MoU with The ePlane Company

The ePlane Company signs MOU with Ramco Systems

27-10-2025 12:42:39
Refex Industries gets an order from mining entity

Refex Industries gets an order worth Rs. 300 Cr from a mining entity in Jharkhand

24-10-2025 13:57:18

Diwali Stocks Picks 2025

OPEN FREE* DEMAT ACCOUNT