Whalesbook
Final Dividend Ka Decision Kab?
ITC Limited ka board ab 21st May, 2026 ko milne wala hai. Is meeting mein wo company ke fourth quarter aur poore fiscal year 2026 ke financial results ko review karenge. Sabse important baat, wo Final Dividend declare karne par bhi विचार (thought) karenge. Agar ye dividend aata hai, toh yeh FY26 ka doosra dividend hoga. Pehle ₹6.50 per share ka interim dividend diya ja chuka hai.
Q3 FY26 mein ITC ka consolidated net profit ₹4,931 crore raha, jo pichhle saal ke barabar hi tha. Revenue 7% badh kar ₹21,707 crore ho gaya. Abhi May 2026 mein, ITC ki market capitalization lagbhag $42.91 billion hai. Stock recent mein BSE par ₹307 ke aas paas trade kar raha tha, jisme thodi girawat dikhi.
Financial Performance Aur Valuation
Q3 FY26 ke results dikha rahe hain ki costs badhne ke bawajood profit stable raha, pichhle saal ke ₹4,935 crore ke muqable ₹4,931 crore. Lekin revenue growth achha tha, FMCG-others segment mein double-digit growth aur cigarette business ki strong performance ki wajah se, jo ₹21,707 crore tak pahuncha, matlab 7% saal-dar-saal badhotri.
18th May, 2026 tak, ITC ka P/E ratio lagbhag 11.09x tha, jo peers ke median se 25% discount par trade kar raha hai. Lekin kuch sources ke according, May 2026 mein TTM P/E ratio 18.88 tha, jo 10-saal ke median 22.21 se 51% kam hai. Pichhle ek saal mein stock mein achhi khaasi girawat aayi hai, lagbhag 29.01% tak, aur 30th March, 2026 ko yeh ₹287 ke 52-week low par pahunch gaya tha.
Margin Pressure Aur Competition
ITC ko 'Dividend King' kaha jaata hai kyunki unhone 2002 se 30 baar dividends declare kiye hain. Lekin recent performance kuch pressures dikha rahi hai jo future payouts ko affect kar sakte hain. Q3 FY26 mein profit flat raha, iska karan raw material costs ka badhna aur new labor codes se related ek one-time charge tha. Revenue badha toh sahi, lekin net profit kam ho gaya, pichhle quarter se lagbhag 4% kam.
Investors ye dekh rahe hain ki management margins ko recover karne aur non-cigarette businesses ko expand karne ke liye kya strategy bana rahi hai, kyunki ye valuation aur future dividend growth ke liye bahut zaroori hai. Alag-alag segments mein ITC ko zabardast competition ka samna karna padta hai. FMCG mein, HUL, Nestlé India, aur Britannia Industries jaise companies hain. Hotel division mein, ITC Hotels, Taj Hotels aur Marriott International jaise chains se compete karta hai. Cigarette segment mein toh ITC ka 75% market share hai, par is sector mein regulatory scrutiny bhi rehti hai.
Aage Kya Aur Analysts Kya Keh Rahe Hain?
Analysts ko Q4 FY26 ke liye revenue ₹21,000–₹23,000 crore aur Profit After Tax (PAT) ₹5,500–₹6,200 crore ke beech mein expect hai. Iss earnings season mein margin recovery aur fiscal year 2027 ke liye guidance important rahegi. May 2026 tak ITC ka dividend yield 4.67% tha, aur annual dividend ₹14.35 per share tha. 15th May, 2026 tak forward dividend yield 4.23% bataya gaya tha. Company consistently dividends deti aayi hai, last ex-dividend date 4th February, 2026 thi.