ITC raises Gold Flake Premium 10-pack price 8% to ₹135
ITC has raised the price of a 10-cigarette Gold Flake Premium pack from ₹125 to ₹135, its second increase in 2026. The pack is now 17.4% pricier year to date, as cigarette makers pass through higher taxes.
What happened
ITC raised Gold Flake Premium’s 10-cigarette pack price to Rs 135, its second 2026 increase, as cigarette makers pass through higher taxation. ITC and Godfrey
Key facts
- Gold Flake Premium 10-cigarette pack price raised to Rs 135 from Rs 125, an 8% increase
- June price rise: Rs 115 to Rs 125, up 8.7%
- Gold Flake Premium price up 17.4% this year from Rs 115 to Rs 135
- ITC shares rose 1.94% to Rs 266.45
- Godfrey Phillips shares rose 2.18% to Rs 2,017.10
- GST on cigarettes raised from 28% to 40% effective February 1, 2026
Why this matters
ITC’s repeated price-led tax pass-through reinforces the attractiveness of scaled tobacco brands with premium positioning, distribution control, and resilient consumer loyalty.
What to watch
- NielsenIQ or channel-check evidence on Gold Flake Premium volumes, retailer inventory build, and consumer switching during the next 4-8 weeks.
- Price changes by Godfrey Phillips, VST Industries, and other cigarette manufacturers on comparable premium packs.
- Any GST, excise, compensation-cess, or tobacco-tax policy signals that would require additional pass-through.
- Growth in low-price cigarette, bidi, and illicit-cigarette sales in key urban and semi-urban markets.
- ITC quarterly cigarette EBIT margin, net revenue growth, and management commentary on elasticity and downtrading.
- ITC is likely to raise prices selectively across other premium and mid-premium cigarette SKUs, using pack-size and geography-specific actions to preserve volume.
- The company may increase trade incentives and retailer execution for lower-priced portfolio brands to retain consumers who downtrade from Gold Flake Premium.
- Competitors are likely to monitor ITC's post-increase offtake before matching on comparable premium 10-stick packs.
- ITC may emphasize premiumization, product mix, and tax pass-through in upcoming earnings commentary rather than pursue broad discounting.