ITC reported its audited annual financial results for the year ended March 31, 2026, recording a net profit of ₹20286.42 crore. Revenue from operations for the fiscal year stood at ₹81640.11 crore, compared to ₹74238.13 crore in the previous year. The board has recommended a final dividend of ₹8 per share, which, combined with the interim dividend of ₹6.50 per share, amounts to a total dividend of ₹14.50 per share for FY26.

Financial Performance Overview

The company's financial performance for the twelve months ended March 31, 2026, showed growth across key metrics. Total income increased to ₹84927.29 crore from ₹77693.10 crore in the prior year. Profit before tax for the period from continuing operations was ₹26767.60 crore. Earnings per share (EPS) for continuing operations was reported at ₹16.20 on a basic basis.

Key Financial Metrics (Standalone)

The following table outlines the standalone financial performance for the full fiscal year:

Dividend Declaration

The Board of Directors recommended a final dividend of ₹8.00 per ordinary share of ₹1 each for the financial year ended March 31, 2026. This is subject to the approval of shareholders at the 115th Annual General Meeting convened for Thursday, July 23, 2026. The record date for determining entitlement has been fixed as Wednesday, May 27, 2026. The total dividend for the year, including the interim dividend of ₹6.50 per share paid in February 2026, aggregates to ₹14.50 per share. The total cash outflow on account of dividends is expected to be ₹18167.57 crore. If declared, the final dividend will be paid between Friday, July 24, 2026, and Wednesday, July 29, 2026.

Operational Highlights

Segment-wise performance indicated growth across various business verticals. The FMCG segment, comprising Cigarettes and Others, reported a segment revenue of ₹61309.40 crore for the year. The Agri Business segment recorded revenue of ₹20296.40 crore, while the Paperboards, Paper & Packaging segment posted revenue of ₹8765.61 crore. The board also approved the audited financial results, including the balance sheet and cash flow statement, for both standalone and consolidated entities. Additionally, the board recommended the re-appointment of Mr. Hemant Bhargava as a Director and Independent Director for a period of five years effective from December 20, 2026.

ITC reported a decline in its Agri Operations revenue during Q4, citing deferred sales as the primary reason. The company attributed the revenue shortfall directly to disruptions arising from the ongoing West Asia conflict, which impacted the timing of sales within the segment.

Agri Operations Under Pressure

The West Asia conflict created headwinds for ITC's Agri Operations business, leading to a deferral of sales that weighed on the segment's Q4 revenue performance. The deferred nature of these sales indicates that the revenue impact is linked to timing disruptions rather than a permanent loss of business, though the company has not provided further quantitative details on the extent of the decline.

Tobacco Segment Faces Potential Tax Headwinds

Beyond the agri segment, ITC also flagged a broader industry-level concern for its tobacco business. The company forecasts that tobacco industry revenue could be adversely impacted if cigarette taxes are increased. This cautionary outlook reflects the sensitivity of the cigarette business to regulatory and taxation changes, which remain a key variable for the segment's performance going forward.

Key Takeaways

• ITC's Agri Operations revenue declined in Q4 due to deferred sales caused by the West Asia conflict.
• The company has identified increased cigarette taxes as a potential risk to tobacco industry revenue.
• Both developments highlight near-term challenges across two distinct business verticals of the company.

The dual pressures from geopolitical disruptions affecting agri sales and the potential for higher cigarette taxation underscore the range of external factors that could influence ITC's near-term financial performance across its diversified business portfolio.