ITC sets board meeting date to declare Q2 results 2026; net profit may decline due to cigarette taxation — share outlook
ITC Q2 Results 2026 Date: The diversified FMCG company ITC has announced the board meeting date to declare its second quarter earnings for the current financial year. In an exchange filing on Friday, ITC informed that the company's board meeting has been scheduled for 2nd November 2026 to consider and approve the July to September 2026 quarter results.
ITC announced the Q2 results 2026 date through an exchange filing, saying, “We write to advise that a Meeting of the Board of Directors of the Company has been convened for Monday, 2nd November, 2026, inter alia, to consider and approve the Unaudited Standalone and Consolidated Financial Results of the Company along with the Segment-wise Revenue, Results, Assets and Liabilities for the Quarter and Six Months ended 30th September, 2026, the Balance Sheet as on that date, the Statement of Cash Flows for the half year ended on that date and the Notes thereto.”
According to HDFC Securities' earnings report on the Indian FMCG sector, ITC may report a YoY decline in net income. The brokerage said that the company's revenue may grow by 7% to about Rs. 20,816 crore, but EBITDA is estimated to fall by 24% to ₹5,094 crore, and adjusted PAT by 24% to ₹3,846 crore.
HDFC Securities' report further added that, for ITC, the cigarette business is responsible for the decline in net profit and income, with an excise surge cutting net sales and volumes by about 8% and weaker margins across segments. The brokerage estimates ITC's EBITDA margin at 24.5%, down about 990 bps YoY.
On why ITC's cigarette revenue is expected to decline, SEBI-registered market expert Anuj Gupta said, “ITC's cigarette revenue is hitting the company's profit dearly. However, for this slump, the company is not responsible, but the newly levied taxes are responsible for this.”
The SEBI-registered market expert said that higher cigarette taxes introduced in February 2026 have put pressure on profitability. ITC's staggered price increases are intended to recover costs while limiting volume losses and migration to illicit products. Gupta said that the company's soaring expenses are also eroding the margins and net profit of the Indian FMCG major.
According to Reuters, GoI imposed an excise duty on cigarettes between 2,050 and 8,500 rupees per thousand sticks, in addition to a 40% consumption tax — a move analysts called "a negative surprise for the industry.
ITC share price today finished marginally lower at ₹263.50 apiece on the NSE. The stock has delivered a zero return over the past year, sliding over 35%. In YTD terms, the ITC share price has shed over 25%, whereas in six months, it has declined 14%.
On suggestions to ITC shareholders, Mahesh M Ojha said, “ITC share price has strong support at ₹246. Existing shareholders are advised to hold the scrip, maintaining a stop-loss at ₹246. The stock may touch ₹275 in the near-term on a potential bounce back.”
On suggestions to fresh investors, Mahesh M Ojha said, “Fresh investors can also buy ITC shares at the current market price, maintaining a stop-loss at ₹246 for the near-term target of ₹275.”
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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