MarketFriction

ITC Ltd

NSE ITC · BSE 500875 · Diversified FMCG
₹255.90 -2.61%
NSE close2026-10-01
52 week range255.50 - 426.40
Market cap₹3,32,184 Cr.
P/E16.8
Nifty 50Nifty 100Nifty 200Nifty 500Nifty FMCGNifty India Consumption No price band Delivery 60.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales17,77417,19517,03817,77819,99018,79018,76521,49519,50220,04717,82519,114
Expenses11,32010,98510,73611,23313,43812,42812,24614,67812,80713,16510,90013,934
Operating Profit6,4546,2106,3026,5456,5526,3626,5196,8166,6956,8836,9245,181
OPM %36%36%37%37%33%34%35%32%34%34%39%27%
Other Income67482086877169080315,3917517393227001,148
Interest101211101510111620192940
Depreciation453384385403416416411423435431422428
Profit before tax6,6656,6356,7746,9036,8116,74021,4897,1286,9796,7547,1735,861
Tax %26%19%23%25%26%26%8%25%26%26%24%23%
Net Profit4,9655,4075,1915,1775,0545,01319,8085,3435,1875,0185,4704,509
EPS in Rs3.934.284.104.083.993.9415.764.194.093.944.303.51
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales39,19242,76843,44948,34049,38849,25760,64570,91967,93275,32378,86876,488
Expenses24,66127,29826,92829,80230,04432,19340,02145,21542,74449,49251,56250,806
Operating Profit14,53115,47016,52118,53719,34417,06520,62325,70425,18825,83227,30625,682
OPM %37%36%38%38%39%35%34%36%37%34%35%34%
Other Income1,4831,7592,2402,0802,4172,5771,9102,0983,33017,8032,5232,908
Interest78491157181586078394585108
Depreciation1,0771,1531,2361,3971,6451,6461,7321,8091,5181,6461,7111,715
Profit before tax14,85916,02617,40919,15020,03517,93820,74025,91526,96141,94328,03326,766
Tax %36%35%34%33%22%25%25%25%23%16%25%
Net Profit9,50110,47711,49312,83615,59313,38315,50319,47720,75135,05221,01820,184
EPS in Rs7.748.479.2410.2712.4510.6912.3715.4416.3927.7716.5115.84
Dividend Payout %73%56%56%56%82%101%93%100%84%52%88%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth7%10%4%-3%
Compounded Profit Growth8%10%3%-1%
Stock Price CAGR2%4%-14%-34%
Return on Equity28%32%35%29%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital8028051,2151,2201,2261,2291,2311,2321,2431,2481,2511,253
Reserves30,93441,87545,19851,29057,91564,04459,11661,22367,91273,25968,77971,254
Borrowings269844636132772712493063032852,399
Other Liabilities13,9488,8889,44011,69512,58511,76013,14314,49116,37016,94417,68818,731
Total Liabilities45,95251,65155,89864,24171,73977,31173,76177,19685,83191,75488,00393,637
Fixed Assets15,30315,10715,89316,52419,37421,71323,29824,23225,85127,82021,95522,443
CWIP2,7002,5603,7305,5084,1363,2564,0113,2263,0032,8611,0911,602
Investments6,94311,74817,58122,05325,04328,66324,87124,84129,41531,11434,72038,128
Other Assets21,00622,23718,69420,15623,18523,67821,58024,89827,56129,95930,23731,464
Total Assets45,95251,65155,89864,24171,73977,31173,76177,19685,83191,75488,00393,637
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity9,8439,79910,62713,16912,58314,69012,52715,77618,87817,17917,62718,464
Cash from Investing Activity-5,275-3,921-3,251-7,114-5,546-6,1745,740-2,238-5,7321,563-564-2,321
Cash from Financing Activity-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-9326675-166169334-367-4313919126-4
Free Cash Flow6,5527,4597,55610,3719,44212,27610,69313,76716,18413,72415,52416,332
CFO/OP100%102%104%116%99%102%99%101%98%92%93%91%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days191821233019191515222318
Inventory Days212244185173165187189150148191178209
Days Payable506360807476786159655563
Cash Conversion Cycle181199145115122129129104105148146164
Working Capital Days-65145313235363120394547
ROCE %47%40%36%34%34%32%28%33%39%36%37%39%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
FIIs43.34%43.26%40.95%40.47%40.53%40.17%39.87%37.98%37.39%36.11%34.83%34.23%
DIIs41.94%41.98%43.76%44.02%44.59%44.91%45.19%46.91%47.41%48.90%49.15%49.13%
Government0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%
Public14.68%14.71%15.23%15.47%14.83%14.88%14.90%15.07%15.16%14.95%15.96%16.61%
No. of Shareholders32,74,36033,35,81536,48,53737,56,54135,68,56037,10,16936,47,88636,48,98936,66,40736,08,15740,41,65341,52,430

Fundamentals

Market Cap₹ 3,32,184 Cr.
Current Price₹ 265
Stock P/E16.8
Book Value₹ 57.9
ROCE38.9 %
ROE29.3 %
Dividend Yield5.47 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)-3%
Compounded Profit Growth (TTM)-1%
Consolidated figures.
Valuation
Market capRs 320,629 Cr
Enterprise valueRs 320,019 Cr
P/E (TTM)16.16x
Price to book4.42x
Price to sales4.19x
EV / EBITDA11.19x
EV / EBIT11.91x
EV / sales4.18x
Price to cash flow17.36x
Earnings yield6.19%
Dividend yield5.67%
P/E, 3-year average18.89x
P/B, 3-year average6.34x
P/E, 5-year average19.79x
P/B, 5-year average6.02x
Profitability
Operating margin (excl. other income)34.62%
Operating margin (incl. other income)37.82%
EBITDA margin37.38%
Pre-tax margin34.99%
Net profit margin25.94%
Net margin, latest quarter22.99%
ROE29.03%
ROCE38.73%
ROA22.78%
ROE, 3-year average35.20%
ROCE, 3-year average44.67%
ROA, 3-year average28.16%
ROE, 5-year average31.92%
ROCE, 5-year average41.42%
ROA, 5-year average25.64%
ROIC (approx.)28.03%
Tax rate25.02%
Other income / net worth3.48%
Growth
Sales growth (latest year)4.71%
Profit growth (latest year)-40.46%
Sales CAGR, 3 years3.60%
Sales CAGR, 5 years9.87%
Profit CAGR, 3 years2.54%
Profit CAGR, 5 years9.47%
Sales growth QoQ7.24%
Profit growth QoQ-18.45%
Sales growth YoY (latest quarter)-11.07%
Profit growth YoY (latest quarter)-16.21%
Per share
EPS (TTM)Rs 15.83
EPS (latest year)Rs 16.51
EPS (latest quarter)Rs 3.51
EPS, 3-year averageRs 20.22
EPS, 5-year averageRs 17.70
Book value per shareRs 57.87
Sales per shareRs 61.05
Cash flow per shareRs 14.74
Free cash flow per shareRs 13.03
Dividend per share (latest year)Rs 14.50
Dividend per share, 3-year averageRs 14.20
Dividend per share, 5-year averageRs 13.92
Dividends
Dividend payout87.81%
Dividend payout, 3-year average74.47%
Dividend payout, 5-year average83.35%
Efficiency
Asset turnover0.84x
Fixed asset turnover3.51x
Inventory turnover1.94x
Inventory days188 days
Debtor days18 days
Debtors turnover20.10x
Creditor days63 days
Cash conversion cycle164 days
Working capital days47 days
Leverage
Total debtRs 2,399 Cr
Cash and bankRs 3,009 Cr
Net debtRs -610 Cr
Debt to equity0.03x
Net debt / EBITDA-0.02x
Interest coverage247.74x
Current ratio (filing 2026-03-31)3.04x
Quick ratio (filing 2026-03-31)1.92x
Trade payables (filing 2026-03-31)Rs 5,640 Cr
Owners' fund to total sources77.43%
Debt to assets2.56%
Cash flow
Cash from Operating Activity (latest year)Rs 18,464 Cr
Cash from Investing Activity (latest year)Rs -2,321 Cr
Cash from Financing Activity (latest year)Rs -16,147 Cr
Net Cash Flow (latest year)Rs -4 Cr
Free cash flow (latest year)Rs 16,332 Cr
FCFE (approx.: FCF + change in debt)Rs 18,447 Cr
Cash from ops / profit, 5 years0.79x
Sales to cash flow4.27x
Statement figures
Net sales (TTM)Rs 76,488 Cr
Net sales (latest year)Rs 78,868 Cr
Sales (latest quarter)Rs 19,114 Cr
Operating profit excl. other income (latest year)Rs 27,306 Cr
Operating profit (latest quarter)Rs 5,181 Cr
Other income (TTM)Rs 2,908 Cr
EBITDA (TTM)Rs 28,590 Cr
PBDT (TTM)Rs 28,482 Cr
Profit before tax (TTM)Rs 26,766 Cr
Tax (latest year)Rs 7,015 Cr
Net profit (TTM)Rs 19,839 Cr
Net profit (latest year)Rs 20,689 Cr
Net profit (latest quarter)Rs 4,394 Cr
Depreciation (TTM)Rs 1,715 Cr
Depreciation (latest quarter)Rs 428 Cr
Interest (TTM)Rs 108 Cr
Cost of goods sold (latest year)Rs 36,078 Cr
Total expenditure (latest year)Rs 51,562 Cr
Total income (latest year)Rs 81,391 Cr
Share capitalRs 1,253 Cr
ReservesRs 71,254 Cr
Shareholders' fundsRs 72,507 Cr
Total assetsRs 93,637 Cr
Net blockRs 22,443 Cr
Capital work in progressRs 1,602 Cr
InvestmentsRs 38,128 Cr
ReceivablesRs 3,923 Cr
InventoryRs 18,623 Cr
Other liabilitiesRs 18,731 Cr
Shares outstanding (crore)1,252.95
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 16.2 is at the 17th percentile of its own 9.4-year range (median 26.0, low 10.3, high 39.4).
P/B 4.42 is at the 17th percentile (median 6.68).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodITCNifty 50Difference
1 week-4.5%-2.8% -1.7 pts
1 month-4.0%-6.8% +2.8 pts
3 months-11.7%-7.6% -4.1 pts
6 months-11.1%+0.4% -11.5 pts
1 year-36.0%-9.9% -26.1 pts
2 years-50.5%-13.6% -36.9 pts
3 years-42.4%+14.2% -56.6 pts
5 years+8.7%+27.9% -19.2 pts
401 mutual fund schemes hold about ₹36,995 Cr. Over three months 85 bought more and 77 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Parag Parikh Flexi Cap Fund5.26%7,750 -2%
ICICI Pru Value Fund4.18%2,513 +1%
ICICI Pru Multi Asset Allocation Fund1.59%1,397 -2%
Nippon India Large Cap Fund2.12%1,151 -1%
HDFC Balanced Advantage Fund1.02%1,095 +3%
Mirae Asset Large Cap Fund2.13%824 +1%
SBI Contra Fund1.67%792 +0%
Kotak Arbitrage Fund(M1.03%778 +119%
Nippon India Multi Cap Fund1.27%716 -2%
UTI Nifty 50 Index Fund2.23%659 +0%
ICICI Pru Large Cap Fund0.80%638 -0%
SBI Aggressive Hybrid Fund0.66%588 -3%
Kotak Multi Cap Fund1.97%578 -6%
HDFC Nifty 50 Index Fund2.23%541 +0%
SBI Balanced Advantage Fund1.21%512 +0%
ICICI Pru Aggressive Hybrid Fund(A0.95%497 -1%
SBI Arbitrage Fund0.98%463 +32%
Mirae Asset Large & Midcap Fund0.99%454 -7%
Mirae Asset ELSS Tax Saver Fund1.69%447 -23%
DSP Aggressive Hybrid Fund3.59%422 +2%
ICICI Pru Equity Savings Fund(Q2.53%409 +5%
ICICI Pru Nifty 50 Index Fund2.23%388 +0%
ICICI Pru Nifty 50 Index Fund2.23%385 +0%
Kotak Multi Asset Allocation Fund2.47%377 -6%
DSP Large Cap Fund5.06%360 +2%

Red flags

F-score 4 of 8
explainDebt up, profit down Borrowings up 743% while net profit fell in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2022-02-14SANJEEV SEKSARIAImmediate relativeother40,000Rs 0.88 CrGift
2022-02-10SANJEEV SEKSARIAImmediate relativeother40,000Rs 0.93 CrGift
2021-12-10LN BALAJIImmediate relativesell21,500Rs 0.50 CrMarket Sale
2021-11-09JAYANT AWASTHIImmediate relativeother5,000Rs 0.11 CrPledge Creation
2021-11-02S RANGRASSImmediate relativeother20,000Rs 0.45 CrOff Market
2021-08-10BAPPADITYA RAY CHAUDHURIEmployees/Designated Employesell30,000Rs 0.64 CrMarket Sale
2021-08-10DEBOJIT GHOSHEmployees/Designated Employesell15,500Rs 0.33 CrMarket Sale
2021-08-10SANDEEP KAULEmployees/Designated Employeother30,000Rs 0.63 CrPledge Creation
2021-08-09RAJIV TANDONDirectorsell20,000Rs 0.43 CrMarket Sale
2021-08-09SANDIP DATTAEmployees/Designated Employesell5,000Rs 0.11 CrMarket Sale
2021-08-09ASHESH AMBASTAEmployees/Designated Employesell25,000Rs 0.54 CrMarket Sale
2021-08-06S. SURESH KUMAREmployees/Designated Employeother24,840Rs 0.53 CrRevokation of Pledge
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹19,114 Cr -11.1% vs Jun 2025. Net profit ₹4,509 Cr -15.6%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-05-27Dividend - Rs 8 Per Share
2026-02-04Interim Dividend - Rs 6.50 Per Share
2025-05-28Dividend - Rs 7.85 Per Share
2025-02-12Interim Dividend - Rs 6.50 Per Share
2025-01-06Demerger
2024-06-04Dividend - Rs 7.50 Per Share
2024-02-08Interim Dividend - Rs 6.25 Per Share
2023-05-30Dividend - Rs 6.75 Per Share /Special Dividend - Rs 2.75 Per Share
2023-02-15Interim Dividend - Rs 6 Per Share
2022-05-26Dividend - Rs 6.25 Per Share
2022-02-14Interim Dividend - Rs 5.25 Per Share
2021-06-10 Dividend - Rs 5.75 Per Share
2021-02-22 Interim Dividend - Rs 5 Per Share
2020-07-06 Dividend - Rs 10.15 Per Share
2019-05-22 Dividend - Rs 5.75 Per Share
2018-05-25 Dividend- Rs 5.15 Per Share
2017-06-05 Dividend-Rs 4.75 Per Share
2016-07-01 Bonus 1:20.6667
2016-05-30 Dividend-Rs.8.50 Per Share (Including Special Dividend Of Rs.2/- Per Share).
2015-06-03Dividend - Rs 6.25/- Per Share
2014-06-03Dividend - Rs 6/- Per Share
2013-05-31Annual General Meeting And Dividend Rs.5.25 Per Share
2012-06-11Annual General Meeting/Dividend Rs 4.50 Per Share
2011-06-10Dividend Final Rs 2.80 And Special Rs 1.65 Per Share
2010-08-03Bonus 1:10.5000
2010-06-09Final Dividend Rs.4.50 Per Share And Special Centenary Dividend Rs.5.50 Per Share
2009-07-13Agm/Div-Rs.3.70 Per Share
2008-07-16Agm/Div-Re. 3.50/- Pr Shr
2007-07-16Agm/Div-Rs.3.10 Per Sh
2006-07-10Agm/Div-Rs.2.65/- Per Sh
DateTypeWhat it says
2026-09-28AcquisitionAcquisition of shares of Sproutlife Foods Private Limited
2026-09-17ESOPAllotment of 735050 Shares.
2026-09-09Concall / analyst meetSchedule of meet
2026-09-01General UpdatesAmalgamation of Blazeclan Technologies Private Limited and Cloudlytics Technologies Private Limited with ITC Infotech India Limited
2026-08-31AcquisitionStrategic combination of ITC Infotech India Limited and Happiest Minds Technologies Limited
2026-08-14ESOPOf 313800 Options.
2026-08-14Concall / analyst meetParticipation in Investor Conference
2026-08-04Concall / analyst meetSchedule of meet
2026-08-01General UpdatesAcquisition of Pulp and Paper Undertaking of Aditya Birla Real Estate Limited - Update
2026-07-31General UpdatesGeneral Updates
2026-07-31Board meeting outcomeBoard meeting held on July 31, 2026.
2026-07-31Board meeting outcomeITC Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-29Credit Rating- NewIntimation of ESG Score assigned by ESG Risk Assessments & Insights Limited
2026-07-23Credit Rating- NewIntimation of ESG rating assigned by Crisil ESG Ratings & Analytics Limited
2026-07-23Director changeChange in Director(s) of the company.
2026-07-23General UpdatesITC Limited has informed the address delivered by the Chairman at the 115th Annual General Meeting of the Company on the theme ITC: Partnering Indi...
2026-07-23Shareholder meetingProceedings of Annual General Meeting held on July 23, 2026. Further, the company has informed the Exchange regarding voting results.
2026-06-26Shareholder meetingNotice of Annual General Meeting to be held on July 23, 2026
2026-05-27Concall / analyst meetSchedule of meet
2026-05-21UpdatesFinancial Results.
2026-05-21General UpdatesGeneral Updates
2026-05-21General UpdatesFinancial Results
2026-05-21General UpdatesGeneral Updates
2026-05-21Record DateRecord date for the purpose of DI is 27-May-2026.
2026-05-21DividendBoard of Directors at its meeting held on May 21, 2026, recommended Final Dividend of 8 per equity share.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.78
Max pain (expiry 2026-10-27)268
Largest call open interest at270
Largest put open interest at270
Implied volatility, at the money20.5%
Underlying at snapshot255.90
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-295,184
2026-09-2810
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-06-04NCLATITC Limited VS The Competition Commission of India
2021-03-02NCLATSinghal Finstock VS ITC Ltd.
2021-01-13NCLATSinghal Finstock VS ITC Ltd.
2021-01-04NCLATITC Limited VS The Competition Commission of India
2020-12-18NCLATSinghal Finstock VS ITC Ltd.
2020-11-11NCLATSinghal Finstock VS ITC Ltd.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of ITC Ltd?

ITC Ltd (ITC) has a market capitalisation of Rs 3,32,184 Cr. at the 2026-10-01 close.

What is the P/E ratio of ITC Ltd?

ITC Ltd trades at a P/E of 16.8 on trailing twelve-month profit, at the 2026-10-01 close.

What were ITC Ltd's latest quarterly results?

In the Jun 2026 quarter, ITC Ltd sales was Rs 19,114 Cr (-11.1% vs Jun 2025) and net profit was Rs 4,509 Cr.

What is the 52-week high and low of ITC Ltd?

The 52-week high is Rs 426.40 and the 52-week low is Rs 255.50.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03