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.
What happened
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
Key facts
- Net Profit Rs 5,113 cr +4.9%
- Revenue Rs 16,050 cr -7%
- EBITDA Rs 6,425 cr +7.3%
- EBITDA margin 40.03%
- Citi TP Rs 290
- Jefferies TP cut to Rs 350 from Rs 400
- stock -29% 12M
Why this matters
ITC's depressed multiple and strategic pivot pressure could open windows for bolt-on FMCG or hotel-segment carve-outs, while weakened peers in tobacco-adjacent categories may become more receptive to consolidation talks.