ITC is expected to report a 14% YoY increase in consolidated net profit at Rs 4,764.4 crore in the March quarter.

Topline (excluding excise duty) is projected to grow 4% YoY to Rs 16,152 crore, driven by a 13% increase in cigarette volume.

Overall EBITDA margins are expected to remain flat sequentially at 38% but expand 400 basis points YoY.

FMCG and hotel businesses are anticipated to show growth, with expected revenue growth of 15% and 72% respectively.

Paperboards and agri businesses might underperform due to various factors, including government restrictions on wheat and rice exports.

Investors will be interested in updates on the demerger of ITC’s hotel business, raw material prices, agri business outlook, and dividend announcements.

Several brokerages have a ‘buy’ rating on the stock, with target prices ranging from Rs 450 to Rs 475.

On May 17, the stock closed at Rs 428.05 on the NSE, reflecting a 0.97% increase from the previous close.