Shares of FMCG major ITC showed resilience in the early morning session on Friday. After the announcement of Q3 results FY26 on Thursday, ITC shares today opened with an upside gap at ₹318.80 per share on the NSE and touched an intraday high of ₹325.15 per share, logging an intraday gain of around 2% within minutes of the opening bell.
According to stock market experts, ITC shares are rising despite the broader market crash as the FMCG major delivered strong third-quarter numbers. However, the stock has fallen nearly 22% over the last six months. Analysts believe the stock is likely to remain in focus in the near term following the robust Q3 performance. At current levels, the ₹320–₹325 zone is a key support area, where prices are attempting to stabilise. A sustained break below this zone could lead to further downside, while the ₹360–₹365 range is expected to act as strong resistance.
ITC Ltd reported a resilient performance for the December quarter (Q3 FY26), delivering steady profits, solid revenue growth, and healthy margin expansion, keeping the stock firmly in focus for investors. The company posted a consolidated net profit of ₹5,018 crore, broadly in line with ₹5,013 crore recorded in the same quarter last year, indicating stable earnings amid a challenging macro environment. On a sequential basis, profit dipped marginally by 3.3% from ₹5,187 crore in the September quarter.
Revenue from operations rose 6.7% year-on-year to ₹21,706 crore, reflecting sustained momentum across core businesses. At the operating level, EBITDA increased 8.17% YoY to ₹6,882 crore, while EBITDA margins expanded by 50 basis points to 31.7%, highlighting improved operational efficiency.
ITC’s FMCG business delivered strong double-digit revenue growth of around 11% YoY, along with a 145-basis point expansion in EBITDA margins. Growth was broad-based across staples, biscuits, noodles, dairy, and personal care categories, while its premium and digital-first portfolio continued to scale up rapidly, strengthening the company’s diversification strategy. The cigarettes segment maintained steady volume-led growth, with net segment revenue rising 7.9% YoY, supported by premiumisation and continuous product innovation, although elevated leaf tobacco costs continued to exert some pressure on margins.
The Agri business posted a 6.3% YoY increase in revenue, driven by strong performance in value-added agri products, particularly aqua and coffee, along with improved leaf tobacco exports. Meanwhile, revenue from the Paperboards, Paper & Packaging segment declined 3% YoY to ₹2,203 crore, reflecting softer demand conditions. Adding to investor optimism, ITC announced a dividend of ₹6.5 per share, reinforcing its reputation as a consistent dividend-paying stock.