360 ONE sets INR 440 target for ITC stock

Published on 10/05/2026 at 06:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ITC reported Q1FY27 net revenue of INR 16,907.60 crore, down 14.40 percent year on year. ITC stock sits 39.00 percent below its 52-week high.

ITC, INE154A01025, Illustration mit AI erstellt.

According to Economic Times on October 2, 2026, 360 ONE Capital Research named ITC a Buy and set an INR 440 target. ITC stock was last at INR 260.10 on NSE on October 5, 2026 at 9:58 a.m. IST, putting the target 69.17 percent above that quote.

Sproutlife deal adds a growth angle

ITC's investor-relations page lists the acquisition of shares in Sproutlife Foods Private Limited dated September 28, 2026. The deal connects the diversified consumer-goods group with a digital-first food brand while its cigarette business remains the main cash generator.

The same investor-relations page reports fiscal 2026 gross revenue of INR 80,867 crore and EBITDA of INR 25,208 crore as of March 31, 2026. ITC said its portfolio spans FMCG, packaging, paperboards and specialty papers, agri-business and IT services.

Q1FY27 shows the tax pressure

DSIJ reported that ICICI Direct Research upgraded ITC to Buy from Hold on August 4, 2026 and assigned an INR 341 target. The report said Q1FY27 net revenue fell 14.40 percent year on year to INR 16,907.60 crore, while adjusted profit after tax declined 27.10 percent to INR 3,578.80 crore.

The quarterly pressure centered on taxation. DSIJ said ITC's EBITDA margin contracted 498 basis points year on year to 26.70 percent in Q1FY27, even as cigarette pricing increased 22.00 to 23.00 percent to offset a 35.00 percent tax increase. The comparison separates reported revenue growth from the weaker net-revenue and profit picture.

ITC remains below its yearly high

ITC's NSE quote of INR 260.10 stood 39.00 percent below the 52-week high of INR 426.40 and INR 2.14 percent above the 52-week low of INR 254.65 on October 5, 2026. The company's market capitalization was INR 3.3 trillion at the same snapshot.

For investors, the key tension is visible in the numbers: pricing power and FMCG expansion support the analyst case, while the Q1FY27 net-revenue decline and 498-basis-point margin contraction show the cost of the cigarette tax reset.