ITC Ltd.

•

itcportal.comBSE: 500875NSE: ITC

Market Cap₹ 3,27,278 Cr.

Current Price

High / Low₹ 426 / 256

Stock P/E17.3

Book Value₹ 58

Price to Book5.19

Dividend Yield5.55 %

ROCE38.4 %

ROE29.6 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • FMCG - Cigarettes: 45.9% • FMCG - Others: 29.9% • Agri Business: 15.2%

AI Sector View

AI GENERATED

Fast Moving Consumer Goods

Hold

Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.

Confidence

62%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 37.7%
Company has a good return on equity (ROE) track record: 3 Years ROE 29.1%
Company comfortably covers its interest (383.7x coverage)
Company has a consistent dividend-paying track record
Stock looks reasonably valued - P/E of 17.3 is below its historical median

CONS

Recent results are weak - TTM profit is down 45.1% versus prior year
Total debt has risen sharply - up 115026.1% year on year
Operating margins have contracted to 30.9% from 37.6%
Recurring exceptional / one-off items are inflating headline profit
Company has delivered a poor profit growth of 9.3% over past five years
Stock is trading at 5.2x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Fast Moving Consumer GoodsFMCGCigarettes/Tobacco

Part ofNIFTY 50 NIFTY FMCG NIFTY100 QUALTY30 NIFTY DIV OPPS 50 NIFTYLARGEMIDCAP250

S.No.	Name
1.	ITC	261.20	16.50	327277.91	5.55	4508.79	-15.62	29523.30	28.32	38.83	17.84
2.	GODFRYPHLP	1976.00	22.53	30822.00	2.53	1983.90	456.84	38195.60	2020.43	33.70	5.49
3.	VSTIND	208.55	57.13	3542.45	5.75	42.42	-24.43	861.71	109.08	28.18	5.76
4.	IWP	35.41	38.26	226.53	0.56	2.51	118.28	65.19	26.76	3.02	8.02
5.	NTCIND	132.85	9.64	192.88	0.00	6.12	7.99	26.63	3.21	11.14	24.79

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	16,843	17,549	16,701	16,732	17,457	19,686	18,055	18,267	20,911	19,148	19,200	21,463	26,943
	10,745	11,663	11,125	11,066	11,506	13,735	12,462	12,508	14,798	13,130	13,088	15,269	22,829
Operating Profit	6,098	5,885	5,576	5,666	5,950	5,951	5,594	5,759	6,113	6,018	6,112	6,195	4,114
OPM %	36.20%	33.54%	33.39%	33.86%	34.09%	30.23%	30.98%	31.53%	29.23%	31.43%	31.83%	28.86%	15.27%
	709	896	1,134	797	699	874	1,615	795	662	986	798	655	645
Interest	11	11	10	9	8	12	8	9	13	16	15	24	34
Depreciation	402	413	343	341	355	368	362	356	365	371	369	362	366
Profit before Tax	6,546	6,514	6,520	6,288	6,422	6,617	7,074	6,417	6,545	6,851	6,685	6,694	4,759
Tax %	25.10%	24.36%	16.89%	23.06%	24.94%	24.80%	23.36%	24.03%	24.95%	24.40%	23.88%	23.61%	24.81%
Net Profit	4,903	4,927	5,419	4,837	4,820	4,976	5,421	4,875	4,912	5,180	5,089	5,113	3,579
	3.94	3.96	4.35	4.02	3.86	3.98	4.34	3.89	3.93	4.13	4.06	4.08	2.86

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	40,089	40,628	44,996	45,620	45,485	56,341	66,043	62,628	69,326	71,984	86,755
	25,505	25,087	27,676	27,702	29,952	37,448	42,076	39,197	45,420	46,789	64,316
Operating Profit	14,584	15,540	17,320	17,917	15,533	18,893	23,967	23,431	23,905	25,195	22,439
OPM %	36.38%	38.25%	38.49%	39.28%	34.15%	33.53%	36.29%	37.41%	34.48%	35.00%	25.86%
	2,002	2,566	2,494	2,893	3,252	2,649	2,520	3,592	4,103	3,117	3,084
Interest	45	110	58	80	59	61	74	34	36	70	89
Depreciation	1,038	1,145	1,312	1,563	1,562	1,652	1,663	1,357	1,442	1,474	1,469
Profit before Tax	15,503	16,852	18,444	19,167	17,164	19,830	24,750	25,632	26,530	26,768	24,990
Tax %	34.20%	33.40%	32.42%	21.03%	24.08%	24.06%	24.23%	22.32%	24.26%	24.21%	24.13%
Net Profit	10,201	11,223	12,464	15,136	13,032	15,058	18,753	19,910	20,093	20,286	18,961
EPS	8.38	9.16	10.13	12.31	10.59	12.22	15.11	15.95	16.06	16.19	—
Dividend Payout %	56.56%	56.00%	56.55%	82.43%	101.54%	94.12%	102.72%	86.22%	89.37%	89.56%	—

COMPOUNDED SALES GROWTH

10 Years:: 7%
5 Years:: 10%
3 Years:: 3%

COMPOUNDED PROFIT GROWTH

10 Years:: 8%
5 Years:: 9%
3 Years:: 3%

STOCK PRICE CAGR

10 Years:: 0%
5 Years:: 4%
3 Years:: -17%
1 Year:: -37%

RETURN ON EQUITY

10 Years:: 26%
5 Years:: 28%
3 Years:: 29%
Last Year:: 30%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	1,215	1,220	1,226	1,229	1,231	1,232	1,243	1,248	1,251	1,253
	42,527	48,306	54,726	60,778	56,067	58,851	65,610	70,477	66,220	68,228
	42	85	50	355	517	361	429	374	205	2,476
Trade Payables	2,551	3,382	3,368	3,447	4,119	4,223	4,351	4,490	4,490	5,272
	7,882	9,388	10,428	9,426	9,646	10,425	10,629	10,739	11,838	11,687
Total Liabilities	54,216	62,381	69,798	75,235	71,580	75,092	82,262	87,328	84,005	88,916
	14,880	15,566	18,486	20,132	21,811	22,856	23,822	25,370	19,590	20,094
Capital Work in Progress	3,491	5,017	3,391	2,776	3,330	2,442	1,681	1,078	1,068	1,473
	18,585	23,397	26,578	30,631	26,984	27,282	32,721	34,739	35,983	39,111
	7,864	7,237	7,587	8,038	9,471	9,998	10,594	12,632	15,061	17,932
	0	0	0	0	0	0	0	3,311	3,911	2,926
Cash & Bank	2,747	2,595	3,769	6,843	4,002	3,878	3,831	6,218	3,185	2,136
	6,648	8,569	9,986	6,815	5,983	8,636	9,613	3,980	5,208	5,246
Total Assets	54,216	62,381	69,798	75,235	71,580	75,092	82,262	87,328	84,005	88,916

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	15,215	18,370	17,235	18,456	15,450	19,318	23,712	16,118	16,754	17,095
Cash from Investing	-2,780	-6,691	-5,082	-5,517	6,498	-1,517	-5,159	2,128	138	-1,538
Cash from Financing	-7,138	-6,020	-6,601	-7,891	-18,379	-13,337	-12,730	-18,255	-16,766	-15,694
	84	-60	67	399	-387	-46	22	-9	127	-138

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	40.47	40.53	40.17	39.87	37.98	37.39	36.11	34.83	34.23
	41.37	41.94	42.28	42.46	44.01	44.58	46.28	46.93	47.15
	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.00	0.04
	15.47	14.84	14.88	14.91	15.08	15.17	14.95	15.98	16.60

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-09 - ITC Limited has informed the Exchange about Schedule of meet

2026-09-01

General Updates

2026-09-01 - ITC Limited has informed the Exchange about Amalgamation of Blazeclan Technologies Private Limited and Cloudlytics Technologies Private Limited with ITC Infotech India Limited

2026-08-31

Acquisition

2026-08-31 - ITC Limited has informed the Exchange about Strategic combination of ITC Infotech India Limited and Happiest Minds Technologies Limited

2026-08-14

ESOP/ESOS/ESPS

2026-08-14 - ITC Limited has informed the Exchange regarding of 313800 Options.

2026-08-14

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - ITC Limited has informed the Exchange about participation in Investor Conference

2026-08-13

Copy of Newspaper Publication

2026-08-13 - ITC Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-04

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-04 - ITC Limited has informed the Exchange about Schedule of meet

2026-08-01

General Updates

2026-08-01 - ITC Limited has informed the Exchange about Acquisition of Pulp and Paper Undertaking of Aditya Birla Real Estate Limited - Update

2026-07-31

General Updates

2026-07-31 - ITC Limited has informed the Exchange about General Updates

News

Recent coverage and analyst commentary for ITC

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AI Stock Analyst

ITC Ltd.

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Name

ITC

261.20

16.50

327277.91

5.55

4508.79

-15.62

29523.30

28.32

38.83

17.84

GODFRYPHLP

1976.00

22.53

30822.00

2.53

1983.90

456.84

38195.60

2020.43

33.70

5.49

VSTIND

208.55

57.13

3542.45

5.75

42.42

-24.43

861.71

109.08

28.18

5.76

IWP

35.41

38.26

226.53

0.56

2.51

118.28

65.19

26.76

3.02

8.02

NTCIND

132.85

9.64

192.88

0.00

6.12

7.99

26.63

3.21

11.14

24.79

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

16,843

17,549

16,701

16,732

17,457

19,686

18,055

18,267

20,911

19,148

19,200

21,463

26,943

10,745

11,663

11,125

11,066

11,506

13,735

12,462

12,508

14,798

13,130

13,088

15,269

22,829

Operating Profit

6,098

5,885

5,576

5,666

5,950

5,951

5,594

5,759

6,113

6,018

6,112

6,195

4,114

OPM %

36.20%

33.54%

33.39%

33.86%

34.09%

30.23%

30.98%

31.53%

29.23%

31.43%

31.83%

28.86%

15.27%

709

896

1,134

797

699

874

1,615

795

662

986

798

655

645

Interest

Depreciation

402

413

343

341

355

368

362

356

365

371

369

362

366

Profit before Tax

6,546

6,514

6,520

6,288

6,422

6,617

7,074

6,417

6,545

6,851

6,685

6,694

4,759

Tax %

25.10%

24.36%

16.89%

23.06%

24.94%

24.80%

23.36%

24.03%

24.95%

24.40%

23.88%

23.61%

24.81%

Net Profit

4,903

4,927

5,419

4,837

4,820

4,976

5,421

4,875

4,912

5,180

5,089

5,113

3,579

3.94

3.96

4.35

4.02

3.86

3.98

4.34

3.89

3.93

4.13

4.06

4.08

2.86

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

40,089

40,628

44,996

45,620

45,485

56,341

66,043

62,628

69,326

71,984

86,755

25,505

25,087

27,676

27,702

29,952

37,448

42,076

39,197

45,420

46,789

64,316

Operating Profit

14,584

15,540

17,320

17,917

15,533

18,893

23,967

23,431

23,905

25,195

22,439

OPM %

36.38%

38.25%

38.49%

39.28%

34.15%

33.53%

36.29%

37.41%

34.48%

35.00%

25.86%

2,002

2,566

2,494

2,893

3,252

2,649

2,520

3,592

4,103

3,117

3,084

Interest

110

Depreciation

1,038

1,145

1,312

1,563

1,562

1,652

1,663

1,357

1,442

1,474

1,469

Profit before Tax

15,503

16,852

18,444

19,167

17,164

19,830

24,750

25,632

26,530

26,768

24,990

Tax %

34.20%

33.40%

32.42%

21.03%

24.08%

24.06%

24.23%

22.32%

24.26%

24.21%

24.13%

Net Profit

10,201

11,223

12,464

15,136

13,032

15,058

18,753

19,910

20,093

20,286

18,961

EPS

8.38

9.16

10.13

12.31

10.59

12.22

15.11

15.95

16.06

16.19

—

Dividend Payout %

56.56%

56.00%

56.55%

82.43%

101.54%

94.12%

102.72%

86.22%

89.37%

89.56%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

1,215

1,220

1,226

1,229

1,231

1,232

1,243

1,248

1,251

1,253

42,527

48,306

54,726

60,778

56,067

58,851

65,610

70,477

66,220

68,228

355

517

361

429

374

205

2,476

Trade Payables

2,551

3,382

3,368

3,447

4,119

4,223

4,351

4,490

5,272

7,882

9,388

10,428

9,426

9,646

10,425

10,629

10,739

11,838

11,687

Total Liabilities

54,216

62,381

69,798

75,235

71,580

75,092

82,262

87,328

84,005

88,916

14,880

15,566

18,486

20,132

21,811

22,856

23,822

25,370

19,590

20,094

Capital Work in Progress

3,491

5,017

3,391

2,776

3,330

2,442

1,681

1,078

1,068

1,473

18,585

23,397

26,578

30,631

26,984

27,282

32,721

34,739

35,983

39,111

7,864

7,237

7,587

8,038

9,471

9,998

10,594

12,632

15,061

17,932

3,311

3,911

2,926

Cash & Bank

2,747

2,595

3,769

6,843

4,002

3,878

3,831

6,218

3,185

2,136

6,648

8,569

9,986

6,815

5,983

8,636

9,613

3,980

5,208

5,246

Total Assets

54,216

62,381

69,798

75,235

71,580

75,092

82,262

87,328

84,005

88,916

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

15,215

18,370

17,235

18,456

15,450

19,318

23,712

16,118

16,754

17,095

Cash from Investing

-2,780

-6,691

-5,082

-5,517

6,498

-1,517

-5,159

2,128

138

-1,538

Cash from Financing

-7,138

-6,020

-6,601

-7,891

-18,379

-13,337

-12,730

-18,255

-16,766

-15,694

-60

399

-387

-46

-9

127

-138

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Promoters

0.00

40.47

40.53

40.17

39.87

37.98

37.39

36.11

34.83

34.23

41.37

41.94

42.28

42.46

44.01

44.58

46.28

46.93

47.15

0.04

0.00

0.04

15.47

14.84

14.88

14.91

15.08

15.17

14.95

15.98

16.60

ITC Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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ITC Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI