iTC Q2 FY27 RESULTS PREVIEW: PROFIT MAY DECLINE 8–11%

is scheduled to announce its Q2 FY27 financial results on November 2, 2026. Analysts anticipate subdued performance, as higher cigarette taxes are likely to impact sales volumes and margins, partly offset by continued growth in the FMCG segment. Q2 EARNINGS EXPECTATIONS 🔹 Revenue: Estimated at ₹18,900–20,510 crore, indicating a possible 3% decline to 5% growth YoY, compared with ₹19,502 crore last year. 🔹 Net Profit: Expected to fall 8–11% YoY to ₹4,550–4,700 crore, against ₹5,126 crore in Q2 FY26. 🔹 Cigarette Volumes: May decline 7–10% year-on-year due to higher taxation and pricing pressure. 🔹 FMCG Business: Expected to deliver sales growth and improved operating margins. KEY FACTORS TO WATCH Investors will track cigarette volume trends, FMCG growth, agribusiness performance and demand conditions across urban and rural markets. STOCK PERFORMANCE 🔹 ITC shares closed 0.2% higher at ₹265 on October 30. 🔹 The stock has declined over 34% so far in 2026, amid higher taxes and rising input costs. TECHNICAL & DERIVATIVES OUTLOOK 🔹 The stock has remained range-bound between ₹253 and ₹270 over the past two months following its decline from around ₹290 in early August. 🔹 November futures indicate an expected movement of approximately 4%, suggesting a potential trading range of ₹257–279. 🔹 Historical trends show that ITC's next-day post-results movement remained within 2.7% over the last 12 quarters. 🔹 However, the stock declined within 10 trading days after results in 10 of the previous 12 quarters, indicating possible post-result weakness. #ITC #ITCResults #Q2FY27 #ResultsPreview #FMCG #CigaretteBusiness #StockMarket #NSE #BSE #NiveshResearch Disclaimer: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.