ITC’s Paperboards, Paper & Packaging Business Delivers Strong Recovery in Q4 FY26

ITC Limited announced a strong performance recovery in its Paperboards, Paper & Packaging business during Q4 FY26, driven by improved operating conditions, robust growth in the carton packaging portfolio, and continued momentum in specialty papers.

The business reported Segment Revenue of ₹22.28 billion (approximately US$267 million), registering a growth of 1.8% YoY, while Segment Results increased 21.2% YoY to ₹2.45 billion (approximately US$29 million) during Q4 FY26. Profitability also improved significantly with segment profits rising 21% YoY and 24% sequentially.

The quarter witnessed continued improvement in business performance aided by:

• Partial relief to the domestic industry through the imposition of Minimum Import Price (MIP) on Virgin Multi-layer Paperboard effective August 22, 2025.

• Moderation in input costs supported by improved wood availability.

• Strong growth in the Specialty Paper segment led by the décor portfolio.

• Robust growth in the Packaging & Printing Business, especially the cartons portfolio.

ITC also highlighted its ongoing strategic interventions to strengthen long-term competitiveness, including accelerating plantations and developing new sourcing regions to enhance wood availability and supply chain resilience. The industry continues to engage with policymakers for sustained safeguard measures against low-priced imports of paperboards and coated/uncoated paper.

For the full year FY26, the business continued to demonstrate operational resilience despite external challenges. ITC noted continued improvement in operational performance across the Paperboards, Paper & Packaging segment.

The company’s sustainable products portfolio also continued to expand, reinforcing ITC’s commitment to environmentally responsible packaging and innovative paper solutions.