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ITC Ltd

ITC NSE

Key Fundamentals

LargecapDiversified FMCGFMCG
Market Cap
3.5L Cr
Volatility
Moderate
P/E Ratio
17.58
EBITDA
₹29,744 Cr
Return on Equity
28.84%
Debt to Equity
0.03
Book Value
₹57.87
EPS
₹16.36
52W High
₹427
52W Low
₹275

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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41 extracted metrics + investor summaries across FY00–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

4
  • Company is almost debt free.
  • Stock is providing a good dividend yield of 5.25%.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 35.2%
  • Company has been maintaining a healthy dividend payout of 74.5%

Weaknesses

1
  • The company has delivered a poor sales growth of 9.87% over past five years.

Growth Rate

Revenue Growth
4.41% ↘
Net Income Growth
4.90% ↗
Cash Flow Change
4.75% ↗
ROE
1.34% ↗
ROCE
-0.27% ↗
EBITDA Margin (Avg.)
-0.05% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk medium

ITC Ltd is a nearly debt-free conglomerate with a market cap of ₹3.57 lakh crore, trading at a PE of 17.7x with a 3-year ROE of 35%. The stock has declined 31% over the past year despite maintaining a dividend yield of 5.07% and a healthy payout ratio of 74.5%.

Bull Case 8
  • Company is virtually debt-free, providing significant financial flexibility and resilience during economic downturns
  • 3-year ROE of 35% and 5-year ROE of 32% indicate highly efficient capital allocation and strong profitability
  • Dividend yield of 5.07% is among the highest in the large-cap FMCG space, offering meaningful income to shareholders
  • Consistent dividend payout ratio of 74.5% demonstrates management's commitment to returning cash to shareholders
  • 10-year compounded profit growth of 8% shows long-term earnings resilience across business cycles
  • PE ratio of 17.7x is relatively undemanding compared to FMCG sector peers that often trade at 40-60x earnings
  • 10-year compounded sales growth of 7% reflects steady top-line expansion across diversified business segments
  • Price-to-book of 4.92x is reasonable for a company generating 29% ROE in the last year, suggesting fair capital efficiency pricing
Bear Case 8
  • Stock has declined 31% over the past 1 year, reflecting significant negative sentiment and capital erosion for recent investors
  • TTM sales growth is negative at -3%, indicating a current revenue contraction that may signal demand weakness
  • TTM profit growth is negative at -1%, showing earnings have stalled despite the company's diversification efforts
  • 3-year stock CAGR of -12% indicates sustained underperformance and prolonged value destruction for medium-term holders
  • 5-year compounded sales growth of only 10% (approximately 9.87%) is modest for a company of this scale in a growing economy
  • 3-year compounded sales growth has slowed to just 4%, a sharp deceleration from the 10-year average of 7%
  • 10-year stock CAGR of only 2% suggests the market has consistently failed to reward the company's earnings growth with price appreciation
  • ROE has declined from 35% on a 3-year basis to 29% in the last year, indicating a possible deterioration in return profile

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 4h ago
Headwinds 2
  • Q1 profit misses all estimates Aug 3

    Net profit fell 27% YoY to ₹35.79 billion, missing the ₹40 billion estimate. EBITDA dropped to ₹45.14 billion vs ₹63 billion YoY with margins contracting from 31.7% to 26.70%.

  • ESG score declines to 67 Jul 29

    ITC's ESG Score dropped one point to 67 (Strong) for FY25-26, signaling a slight deterioration in sustainability metrics.

Positives 4
  • Century Pulp acquisition completed Aug 1

    ITC finalized the acquisition of Aditya Birla Real Estate's Century Pulp and Paper business on a slump sale basis as a going concern.

  • FMCG up 12%, Paper PBIT +38% Aug 1

    Despite overall PAT decline, FMCG revenue grew 12% YoY and Paper segment PBIT surged 38% in Q1FY27.

  • ₹8 final dividend approved at AGM Jul 23

    Shareholders approved ₹8 per share final dividend and reappointed key directors at ITC's 115th AGM on July 23, 2026.

  • Expanding controlled agriculture clusters Jul 23

    ITC announced plans to add 4 new Open Sky Controlled Agriculture Clusters, deepening engagement across its 94% agriculture-linked operations.

Neutral 2
  • Nuvama Conference participation Aug 4

    ITC representatives will attend the 21st Nuvama India Investor Conference in Singapore on August 11-12, 2026 for physical meetings.

  • Multiple institutional block trades Jul 27

    ITC saw several large block trades on NSE between Jul 23-27, including ₹56.08 crore (20.03 lakh shares at ₹280.05), ₹28.97 crore (10.09 lakh shares at ₹287.25), and smaller deals at ₹283-284 range, indicating sustained institutional activity.

TL;DR: ITC's Q1FY27 was weak at the headline level with a 27% PAT decline driven by cigarette tax hikes and Agri disruptions, causing broad misses on profit, EBITDA, and revenue estimates. However, underlying FMCG (+12%) and Paper (+38% PBIT) segments showed strong momentum, and the Century Pulp acquisition adds scale. Institutional block trade activity suggests steady large-investor interest. The key risk is margin compression from cigarette taxation; the positive trend in non-cigarette segments needs to accelerate to offset this drag.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
17,164
17,774
17,195
17,038
17,778
19,990
18,790
18,765
21,495
19,502
20,047
17,825
19,114
Expenses
10,494
11,320
10,985
10,736
11,233
13,438
12,428
12,246
14,678
12,807
13,165
10,900
13,934
Operating Profit
6,670
6,454
6,210
6,302
6,545
6,552
6,362
6,519
6,816
6,695
6,883
6,924
5,181
OPM %
39%
36%
36%
37%
37%
33%
34%
35%
32%
34%
34%
39%
27%
Other Income
722
674
820
868
771
690
803
15,391
751
739
322
700
1,148
Interest
10
10
12
11
10
15
10
11
16
20
19
29
40
Depreciation
442
453
384
385
403
416
416
411
423
435
431
422
428
PBT
6,940
6,665
6,635
6,774
6,903
6,811
6,740
21,489
7,128
6,979
6,754
7,173
5,861
Tax %
25%
26%
19%
23%
25%
26%
26%
8%
25%
26%
26%
24%
23%
Net Profit
5,190
4,965
5,407
5,191
5,177
5,054
5,013
19,808
5,343
5,187
5,018
5,470
4,509
EPS in Rs
4.1
3.93
4.28
4.1
4.08
3.99
3.94
15.76
4.19
4.09
3.94
4.3
3.51
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
38,817
39,192
42,768
43,449
48,340
49,388
49,257
60,645
70,919
67,932
75,323
78,868
76,488
Expenses
24,566
24,661
27,298
26,928
29,802
30,044
32,193
40,021
45,215
42,744
49,492
51,562
50,806
Operating Profit
14,252
14,531
15,470
16,521
18,537
19,344
17,065
20,623
25,704
25,188
25,832
27,306
25,682
OPM %
37%
37%
36%
38%
38%
39%
35%
34%
36%
37%
34%
35%
34%
Other Income
1,229
1,483
1,759
2,240
2,080
2,417
2,577
1,910
2,098
3,330
17,803
2,523
2,908
Interest
91
78
49
115
71
81
58
60
78
39
45
85
108
Depreciation
1,028
1,077
1,153
1,236
1,397
1,645
1,646
1,732
1,809
1,518
1,646
1,711
1,715
PBT
14,362
14,859
16,026
17,409
19,150
20,035
17,938
20,740
25,915
26,961
41,943
28,033
26,766
Tax %
32%
36%
35%
34%
33%
22%
25%
25%
25%
23%
16%
25%
—
Net Profit
9,779
9,501
10,477
11,493
12,836
15,593
13,383
15,503
19,477
20,751
35,052
21,018
20,184
EPS in Rs
8.04
7.74
8.47
9.24
10.27
12.45
10.69
12.37
15.44
16.39
27.77
16.51
15.84
Div. Payout %
52%
73%
56%
56%
56%
82%
101%
93%
100%
84%
52%
88%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
802
805
1,215
1,220
1,226
1,229
1,231
1,232
1,243
1,248
1,251
1,253
Reserves
30,934
41,875
45,198
51,290
57,915
64,044
59,116
61,223
67,912
73,259
68,779
71,254
Borrowings
269
84
46
36
13
277
271
249
306
303
285
2,399
Other Liabilities
13,948
8,888
9,440
11,695
12,585
11,760
13,143
14,491
16,370
16,944
17,688
18,731
Total Liabilities
45,952
51,651
55,898
64,241
71,739
77,311
73,761
77,196
85,831
91,754
88,003
93,637
Fixed Assets
15,303
15,107
15,893
16,524
19,374
21,713
23,298
24,232
25,851
27,820
21,955
22,443
CWIP
2,700
2,560
3,730
5,508
4,136
3,256
4,011
3,226
3,003
2,861
1,091
1,602
Investments
6,943
11,748
17,581
22,053
25,043
28,663
24,871
24,841
29,415
31,114
34,720
38,128
Other Assets
21,006
22,237
18,694
20,156
23,185
23,678
21,580
24,898
27,561
29,959
30,237
31,464
Total Assets
45,952
51,651
55,898
64,241
71,739
77,311
73,761
77,196
85,831
91,754
88,003
93,637
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
9,843
9,799
10,627
13,169
12,583
14,690
12,527
15,776
18,878
17,179
17,627
18,464
Investing
-5,275
-3,921
-3,251
-7,114
-5,546
-6,174
5,740
-2,238
-5,732
1,563
-564
-2,321
Financing
-4,661
-5,613
-7,301
-6,221
-6,869
-8,181
-18,634
-13,580
-13,006
-18,551
-17,037
-16,147
Net Cash Flow
-93
266
75
-166
169
334
-367
-43
139
191
26
-4
Free Cash Flow
6,552
7,459
7,556
10,371
9,442
12,276
10,693
13,767
16,184
13,724
15,524
16,332
CFO/OP
100
102
104
116
99
102
99
101
98
92
93
91
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
19
18
21
23
30
19
19
15
15
22
23
18
Inventory Days
212
244
185
173
165
187
189
150
148
191
178
209
Days Payable
50
63
60
80
74
76
78
61
59
65
55
63
Cash Conversion Cycle
181
199
145
115
122
129
129
104
105
148
146
164
Working Capital Days
-6
51
45
31
32
35
36
31
20
39
45
47
ROCE %
47%
40%
36%
34%
34%
32%
28%
33%
39%
36%
37%
39%

Shareholding Pattern

As of Jun 2026
DIIs 49.13%
FIIs 34.23%
Public 13.95%
Others 2.66%
Government 0.04%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
29.22%
29.18%
29.14%
29.12%
43.35%
43.26%
40.95%
40.47%
40.54%
40.17%
39.87%
37.98%
37.39%
36.11%
34.83%
34.23%
DIIs
38.67%
38.92%
39.85%
40.19%
39.16%
38.86%
30.35%
42.20%
42.08%
41.93%
41.93%
41.99%
43.77%
44.02%
44.59%
44.92%
45.19%
46.91%
47.41%
48.89%
49.15%
49.13%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.04%
0.04%
0.04%
0.04%
0.04%
0.04%
0.04%
0.04%
0.04%
0.04%
0.04%
0.04%
0.04%
0.04%
0.04%
0.04%
Public
12.88%
13.97%
13.67%
14.31%
13.44%
12.99%
12.80%
12.71%
12.43%
12.36%
12.61%
12.62%
13.08%
13.30%
12.43%
12.40%
12.43%
12.58%
12.64%
12.42%
13.34%
13.95%
Others
48.45%
47.11%
46.48%
45.50%
47.40%
48.15%
27.60%
15.87%
16.32%
16.56%
2.09%
2.09%
2.16%
2.17%
2.40%
2.48%
2.47%
2.50%
2.53%
2.54%
2.64%
2.66%
No. of Shareholders
0
21,96,480
26,30,130
25,68,030
29,97,700
28,40,960
28,38,040
28,96,360
29,30,530
30,13,790
32,74,360
33,35,820
36,48,540
37,56,540
35,68,560
37,10,170
36,47,890
36,48,990
36,66,410
36,08,160
40,41,650
41,52,430

Documents

1
Concall - Jun 2019 Jun 2019
2
Concall - Sep 2020 Sep 2020
3
Concall - Nov 2020 Nov 2020
4
Concall - Dec 2020 Dec 2020
5
Concall - Feb 2021 Feb 2021

Frequently Asked Questions about ITC Ltd

What does ITC Ltd do?
Established in 1910, ITC is the largest cigarette manufacturer and seller in the country. ITC operates in four business segments at present — FMCG Cigarettes, FMCG Others, Paperboards, Paper and Packaging, and Agri Business. [1]
Where is ITC Ltd (ITC) listed?
ITC Ltd is listed on the Indian stock exchanges. It is listed on NSE: ITC and BSE: 500875. You can view its live share price, financials, and ratios on Tapetide.
Which sector does ITC Ltd belong to?
ITC Ltd operates in the FMCG sector within the Diversified FMCG industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of ITC Ltd?
ITC Ltd has a market capitalisation of approximately ₹346314.50 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of ITC Ltd?
The Price-to-Earnings (PE) ratio of ITC Ltd is 17.58. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of ITC Ltd?
Over the past 52 weeks, ITC Ltd has traded between a low of ₹275 and a high of ₹427. This range helps investors understand the stock's price volatility and recent trading levels.
Does ITC Ltd pay dividends?
Yes, ITC Ltd has a dividend yield of 5.25%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of ITC Ltd?
ITC Ltd has a Return on Equity (ROE) of 28.84%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research ITC Ltd on Tapetide?
On Tapetide, you can view ITC Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Established in 1910, ITC is the largest cigarette manufacturer and seller in the country. ITC operates in four business segments at present — FMCG Cigarettes, FMCG Others, Paperboards, Paper and Packaging, and Agri Business. [1]

Website itcportal.com
CEO Mr. Sanjiv Puri
Employees 22,041
Listed 1995-08-23
Face Value ₹ 1
Issued Size 12,52,89,59,772

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