Preview: ITC edges up ahead of Q4 results; cigarette tax impact in focus

ITC

21/05/2026 06:09

** Shares of ITC ITC.NS up 0.73% at 309.7 rupees ahead of its quarterly earnings

** Analysts estimate consumer goods conglomerate to post Q4 consol net profit of 49.71 billion rupees ($517.17 million) - LSEG-compiled data

** UBS ("Buy"; PT: 395 rupees) expects Q4 revenue from cigarettes to show mid-single digit decline due to retail destocking in March

** Phillip Capital ("Buy"; PT: 380 rupees) expects cigarette volume growth of ~3%, partially impacted by sharp price rise due to government's excise duty hike in February

** Expects FMCG business to deliver 11% growth, supported by higher demand for packaged food; drag from stationery segment likely to reduce

** Systematix ("Buy"; PT: 355 rupees) says co's commentary on cigarette taxation changes, cigarette volume demand, FMCG demand and paper growth will be in focus

** Stock rated as "Hold" on average by 35 analysts; median PT at 350 rupees - LSEG data

** YTD, stock down 23.1%

($1 = 96.1200 Indian rupees)

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))