ITC Ltd

Q2 FY25Diversified FMCG

ITC Q2 FY25 earnings call: Revenue & Margins

Q2 FY25 investor presentation: what the company reported on revenue, margins and projects.

Price₹268

Market cap₹3.3L Cr

P/E16.6

Updated24 Sept 2026

Read4 min read

Based on ITC Ltd's Q2 FY25 investor presentation. The company has not published an earnings-call transcript for this quarter, so figures here are what the presentation reports, not management guidance.

The short version

Revenue from Sale of Products and Services for H1 FY25: Rs. EBITDA (H1 FY25): Rs.

From ITC Ltd's Q2 FY25 earnings-call transcript · updated 24 Sept 2026.

Revenue & Sales Performance

Revenue from Sale of Products and Services for H1 FY25: Rs. 1,457 crore (versus Rs. 1,308 crore in FY22, Rs. 2,599 crore in FY23, Rs. 3,003 crore in FY24)
Revenue From Operations for H1 FY25: Rs. 1,471 crore (up from Rs. 1,320 crore in FY22, Rs. 2,629 crore in FY23, Rs. 3,034 crore in FY24)
Total Income for H1 FY25: Rs. 1,489 crore (up from Rs. 1,344 crore in FY22, Rs. 2,654 crore in FY23, Rs. 3,069 crore in FY24)
No explicit year-on-year percentage change is stated, but a decrease in revenue compared to FY24 is evident for H1 FY25.
Outlook: Targeting 200+ hotels with 18,000+ keys over 5 years; aiming 2/3rd share in Managed portfolio.

2 more points management made on revenue & sales performance

Profitability & Margins

EBITDA (H1 FY25): Rs. 413 crore
Year-on-Year Change: Up from Rs. 808 crore in FY23's full year, though no direct quarter-to-quarter YoY figure is given.
Operating Margin (EBITDA Margin):
Calculated from H1 FY25 Revenue from Operations (Rs. 1471 crore) and EBITDA (Rs. 413 crore), operating margin ≈ 28%.
No explicit YoY margin percentage provided for the quarter.
Profit After Tax (PAT):
Not explicitly stated in the provided pages; only EBITDA and operating expenses detailed.

2 more points management made on profitability & margins

See what ITC Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Investment outlay for ITC Ratnadipa, Colombo (mixed-use development) is substantially completed, featuring 352 hotel keys and 132 luxury apartments; deliveries of Sapphire Residences (7.3 lakh sqft.) to commence in 2025.
Plan to open 28 managed hotels from Nov 2022 to Oct 2024 (~4300 keys).
Targeting 200+ hotels with 18,000+ keys over 5 years, with about two-thirds as managed portfolio.
Owned hotels pipeline includes 300+ rooms: Greenfield project at Puri and expansion at Bhubaneswar, plus 12k sqft banquets expansion.
Managed hotels pipeline: 45 hotels with ~4000 keys; aiming 2.5x growth in management fees by FY30.

2 more points management made on capital expenditure plans

Fundraising & Capital Structure

The presentation does not mention any fundraising through debt or equity.
It states that ITC Hotels will issue equity shares directly to shareholders of ITC in a manner where about 60% stake is held directly by ITC shareholders and about 40% remains with ITC, but this is part of the demerger structure, not new fundraising.
Notes a strong zero debt balance sheet and cash generation to accelerate growth (Page 10).

2 more points management made on fundraising & capital structure

See what ITC Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The investor presentation does not explicitly mention order book, order inflow, or pending orders. However, it provides the following related insights on growth pipeline and capacity: - Robust Growth Pipeline of 46 Hotels with approximately 4,300 keys (Page 12). - Opened 28 Managed Hotels in past 24 months (Nov 2022 – Oct 2024). - High-quality signed pipeline with high salience of Brownfield assets. - Planned openings at a pace of more than 1 hotel per month for the next 24 months.

2 more points management made on order book & pipeline

ITC Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹17.8K Cr, net profit ₹5.5K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What ITC Ltd's management said in earlier quarters

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Frequently Asked Questions

What were ITC Ltd Q2 FY25 results?

Revenue from Sale of Products and Services for H1 FY25: Rs. EBITDA (H1 FY25): Rs.

What is ITC Ltd share price analysis?

ITC Ltd currently shows a neutral. The stock trades at a P/E of 16.6 with a market cap of ₹328,675 Cr. Investors should review the full earnings analysis for detailed insights.

Is ITC Ltd planning capital expenditure?

Investment outlay for ITC Ratnadipa, Colombo (mixed-use development) is substantially completed, featuring 352 hotel keys and 132 luxury apartments; deliveries of Sapphire Residences (7.3 lakh sqft.) to commence in 2025.

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This analysis is AI-generated based on publicly available earnings data and the company's investor presentation. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.