ITC slips 1% as Q4 revenue misses; Jefferies cuts target to Rs 350, Citi stays Sell
Q4FY26 net profit rose 4.9% to Rs 5,113 cr and EBITDA margin held at 40%, but revenue fell 7% to Rs 16,050 cr. Brokerages flag cigarette tax-hike drag; stock down 29% over 12 months as Jefferies, Citi, Morgan Stanley, JPMorgan and Macquarie stay cautious.
ITC shares fell over 1% after Q4FY26 results: profit up 4.9% to Rs 5,113 cr but revenue missed at Rs 16,050 cr. Brokerages stayed cautious citing cigarette tax-hike impact; Jefferies cut target to Rs 350, Citi retained Sell.
Why this matters
Follows ITC's Q4FY26 print where cigarettes surged 32% and FMCG margins expanded, but brokerages now flag tax-hike pressure. Jefferies had already cut ITC to Rs 350 citing the tax hit.
Retail-company signals steady at 912 over the last 90 days.