Itc Limited · NSE:ITC
Itc — Q2 FY2027 Earnings Presentation
41 slides from Itc's earnings presentation, Nov 2, 2026
Slide 1: Q2 FY27 Results
Q2 FY27 Results 2nd November, 2026 |1|
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains certain forward-looking statements including those describing the Company’s strategies, strategic direction, objectives, future prospects, estimates etc. Investors are cautioned that “forward looking statements” are based on certain assumptions o
Slide 3: Macro Economic Context
Macro Economic Context |3|
Slide 4: Global Growth moderating, divergences remain across Economies
Global Growth moderating, divergences remain across Economies India Remains Resilient (%) FY27 ▪ Geopolitical disruptions & Rising commodities prices offset by ▪ India Remains Resilient | Upward revision in growth estimates AI-led investments ▪ West Asia led disruptions, imported inflation & El Niño
Slide 5: Geopolitics: Renewed escalation in West Asia, Heightened Uncertainty
Geopolitics + Renewed escalation in West Asia → Heightened Uncertainty, Trade Disruptions, Inflationary pressures Heightened Uncertainty Global Inflation rising… to remain elevated (YoY%) Brent Crude Oil Prices escalating… again ($/bbl) Uncertainty Index US 10Y Yield tops 5% → at 20-yr high Spike in
Slide 6: Weakest Monsoon in 10 years
Weakest Monsoon in 10 years State-wise rainfall Vs. LPA (June-Sept period) Sharp rise in WPI inflation – Food & Fuel (YoY%) 47% of India noted drought-like or abnormally dry conditions (LY: 15%) Key Watch-Outs Agri Output | Inflation INR at record lows Source: IMD | MOSPI | Investing.com | indiadrou
Slide 7: Macro Economic Environment
Macro Economic Environment Key Heightened Key Positives Uncertainty Monitorables Stable growth outlook Strong Public Capex Inflation Geopolitical Rural Incomes + Consumer disruptions Resilient Domestic Improving Private Sentiment Foodgrain Output Demand Capex momentum Trade Barriers Strategic Strong
Slide 8: Q2 FY27 Results Headline Financials & Business Highlights
Q2 FY27 Results Headline Financials & Business Highlights |8|
Slide 9: Key Highlights: Q2 FY27
Robust growth across Key Highlights: Q2 FY27 Non-Cigarette Segments Standalone Consolidated Net Revenue Overall ▲ 3% ▲ 5% FMCG Others Segment ▲ 16% ▲ 19% Non-Cigarette Segments ▲ 18% ▲ 20% EBITDA Overall ▼ 17% ▼ 16% Non-Cigarette Segments ▲ 23% ▲ 22% |9|
Slide 10: Key Highlights: FMCG Others
FMCG Revenue growth Key Highlights at 14 Quarter High ▪ FMCG Others: 4th consecutive quarter of double-digit Revenue Growth ̶ Consolidated Revenue up 19% YoY (LTL: 17.3%, ex-Atta 23%) ̶ Biscuits, Snacks, Noodles, Spices, Salt, Frozen Snacks, Homecare & Notebooks (20%+ growth) | Dairy & Personal Wash
Slide 11: Key Highlights: Cigarettes and Agri
Cigarettes: Navigating Tax Increase Key Highlights Agri: Robust growth ▪ Cigarettes: Focused execution of strategic & calibrated response to navigate the unprecedented tax increase, balancing the interests of all stakeholders; improvement in QoQ performance ̶ Legal industry volumes remain under pres
Slide 12: Key Highlights: Paper and Fresh Food
Paper: Strong Recovery momentum Key Highlights Fresh Food: Robust trajectory ▪ Paperboards, Paper and Packaging: Strong recovery momentum; Revenue up 36% YoY; PBIT up 48% YoY ̶ CPP acquisition completed on 1st Aug’2026 ▪ LTL Seg. Revenue up 10%; Seg. PBIT up 52%; Margin expands 320 bps ̶ Improving d
Slide 13: FMCG Cigarettes
FMCG Cigarettes Gross Revenue: +78% Net Revenue: -21% Results: -27% | 13 |
Slide 14: Navigating Tax Increase
FMCG Cigarettes – Q2 FY27 Unprecedented increase in tax Navigating Tax Increase Calibrated Response Powerful Trademarks Re-architecting portfolio Execution Speed & Agility Insight | Innovation Minimise disproportionate Multiple interventions in Leverage strong TMs, width & Introduction of value loss
Slide 15: FMCG Cigarettes: Reinforcing market standing
FMCG Cigarettes Reinforcing market standing Innovation Portfolio Fortification ▪ Classic & Gold Flake World Series ▪ Gold Flake ▪ Bristol ▪ Scissors ▪ Gold Flake Indie Paan Sleek ▪ Classic ▪ Players & Wave ▪ Flake Special ▪ Players Magic Mix Recent Introductions / New Variants Classic Gold Flake Ame
Slide 16: FMCG Others
FMCG Others Standalone Consolidated Revenue: +16% +19% Results: +28% +31% | 16 |
Slide 17: FMCG Others: Robust Consolidated Revenue growth of 19%
Revenue growth FMCG Others at 14 Quarter High ▪ Robust Consolidated Revenue growth of 19% YoY (LTL: 17.3%, ex-Atta 23%) - Biscuits, Snacks, Noodles, Spices, Salt, Frozen Snacks, Homecare & Notebooks (20%+) | Personal Wash & Dairy (high-teens) - Sustained growth momentum in NewGen channels - Strong p
Slide 18: FMCG Others: EBITDA Margin expands over 50 bps
FMCG Others Segment PBIT up 28% YoY ▪ EBITDA Margin expands over 50 bps YoY and QoQ - Sharp input cost escalation across categories • Portfolio mix enrichment | Cost management initiatives | Calibrated pricing actions - Trade & marketing investments sustained at competitive levels towards supporting
Slide 19: Future-Ready Portfolio
Future-Ready Portfolio Recent Launches Fortifying the Core Sunfeast Farmlite Sunrise Engage Mangaldeep Protein Oats & Almonds Cookies Dehati Chicken | Kadai Paneer | Fish Norohinkopaat Temple Sandal Gold Brazilian Maracuja Cognac | Wine Addressing Adjacencies Aashirvaad Sunfeast Dark Fantasy Aashirv
Slide 20: Impactful Brand Integration
Impactful Brand Integration | 20 |
Slide 21: Clutter-breaking Communication
Clutter-breaking Communication Flavour-Led Portfolio Expansion Activating the Festive Opportunities | 21 |
Slide 22: Agri Business
MM ENA Enduring Value Agri Business ITCMAARS a mena *® © & = ‘SEE VIDEOS FROM ‘OTHER FARMERS. wae ater at we
Slide 23: Agri Business: Robust growth despite West Asia disruptions
Robust growth despite Agri Business West Asia led disruptions ▪ Strong growth in VAAP* driven by Spices and Fruits & Vegetables Segment Revenue ▪ Leaf Tobacco 4452 cr. 12.0% - Lower domestic demand a/c unprecedented tax increase on Cigarettes - Exports perform well → Strong customer relationships I
Slide 24: Paperboards, Paper & Packaging
Paperboards, Paper & Packaging | 24 |
Slide 25: Paperboards, Paper & Packaging: Strong Recovery Momentum
Strong Recovery Momentum Paperboards, Paper & Packaging LTL NTO ↑10% | Profits ↑52% ▪ Improving demand scenario; Pricing actions mitigate severe inflation in input costs ▪ Robust traction continues in anchor grades of value-added paperboards & exports Segment Revenue ▪ MIP on virgin multi-layered pa
Slide 26: Fresh Food Business
MM ENA Enduring Value Fresh Food Business Baked Creations
Slide 27: Fresh Food Business: Robust growth trajectory
Fresh Food Business Robust growth trajectory ▪ Full-stack platform → Being progressively introduced across India Pure Veg Home Style Indian ― Robust GMV growth of 53% YoY; ARR crosses 320 cr. ― Network extended to 80+ cloud kitchens; 7 new kitchens opened during Q2 ― ‘Prasuma Chilli Chow’ introduced
Slide 28: Financials
Financials | 28 |
Slide 29: Key Financials – Standalone – Q2 FY27
Key Financials – Standalone – Q2 FY27 Rs. Cr. Q2 FY27 Q2 FY26 GOLY Gross Revenue 28,152 19,208 46.6% Net Revenue 18,449 17,893 3.1% EBITDA 5,160 6,250 -17.4% PBT (bei) 5,507 6,759 -18.5% Exceptional Item -26 88 PBT 5,482 6,847 -19.9% PAT 4,137 5,176 -20.1% Exceptional items: CY: Expenses incurred in
Slide 30: Key Financials – Consolidated – Q2 FY27
Key Financials – Consolidated – Q2 FY27 Rs. Cr. Q2 FY27 Q2 FY26 Goly(%) Gross Revenue 30431 21047 44.6% Net revenue 20454 19455 5.1% EBITDA 5645 6695 -15.7% PBT (bei) 5720 6891 -17.0% Strong performance by Group entities PAT (bei) 4249 5121 -17.0% ITC Infotech, SNPL, Sproutlife and ITCHL Exceptional
Slide 31: Segment Revenue
Strong growth of 18% Segment Revenue in Non-Cigarette Businesses Q2 • Cigarettes: YoY - Net Revenue ↓21% YoY Rs. cr. FY27 FY26 growth Segment Revenue • FMCG Others a) FMCG - Cigarettes 15,536 8,723 78.1% - Biscuits, Snacks, Noodles, Spices, Salt, Frozen, Homecare - Others 6,967 6,024 15.7% & Noteboo
Slide 32: Segment Results
Robust growth of 24% Segment Results in Non-Cigarette Businesses Q2 YoY Rs. cr. FY27 FY26 growth • Cigarettes Segment Results ‒ Calibrated approach leading to QoQ improvement a) FMCG - Cigarettes 3,813 5,241 -27.2% in performance - Others 558 437 27.8% Total FMCG 4,372 5,678 -23.0% • FMCG Others b)
Slide 33: ITC – A Global Exemplar in Sustainability
ITC – A Global Exemplar in Sustainability | 33 |
Slide 34: Impactful Social Performance
Impactful Social Performance Pathway 1: Conserving Natural Resource Ecosystems and Enhancing Resilience of Agriculture & Allied Livelihoods ITC e-Choupal On-farm livelihood diversification Off-farm livelihood diversification Water Stewardship Climate Smart Agriculture (CSA) 4 Million Farmers – Affor
Slide 35: Sustainability 2.0 and Targets 2030
Sustainability 2.0 Sustainability Targets 2030 REDUCE I RECYCLE I RESTORE Raising the Bar Strategic Interventions to Combat Climate Change Renewable Specific GHG Recyclable Plastic Plastic Energy Emissions Packaging Neutrality De-Carbonisation Climate Adaptation and 100% Resilience 50% 50% 100% Coll
Slide 36: Sustainability – Highlights
Sustainability – Highlights • 9 ITC Units have received AWS (Alliance for Water Stewardship) Platinum certification • ~51% energy from renewable sources in FY26. • Sustained Plastic Neutrality in FY26 (fifth year in a row) in line with EPR requirements. • More than 1000 suppliers, including 100% cri
Slide 37: ITC Infotech
ITC Infotech | 3737|
Slide 38: ITC Infotech: Robust growth trajectory sustained
Robust growth ITC Infotech trajectory sustained Q2'27 highlights Revenue Adj. EBITDA^ Rs. 1,387 cr. Revenue | US$ 145 Mn Rs.cr. H1 YoY +17.4% Rs.cr. H1 YoY +20.3% CC +8.8% —●— Margin % 18.4% 700 18.4% 18.0% Adj. EBITDA margin^ 600 2,698 500 2,299 497 Revenue Growth 400 413 Reported CC 300 YoY 18.5%
Slide 39: ITC Infotech
ITC Infotech Geography Vertical Service line CPG, Retail & Mfg Next Gen 58.3% Enterprise IT Americas 24.0% 61.0% BFSI 15.2% Industry 4.0 Europe 44.7% 20.6% Travel & Hosp. 13.3% RoW 31.3% Cloud, Data & AI Others 13.2% 18.4% 12 48.0% 13,202 86.9% 13.3% Utilisation Voluntary US$10 Mn+ clients Top 10 cl
Slide 40: ITC: Enduring Value
ITC: Enduring Value A passion for in a way that is and Profitable growth... Sustainable… Inclusive. | 40 |
Slide 41: Links
Links Product/initiative Link Bingo! on Instagram https://www.instagram.com/bingo_snacks/ YiPPee! on Instagram https://www.instagram.com/sunfeast_yippee/ Aashirvaad on Instagram https://www.instagram.com/aashirvaad/ Sunfeast Dark Fantasy on Instagram https://www.instagram.com/sunfeastdarkfantasy/ Mo