MarketFriction

ITI Ltd

NSE ITI · BSE 523610 · Telecom - Equipment & Accessories
₹241.54 -1.97%
NSE close2026-10-01
52 week range237.00 - 372.85
Market cap₹23,443 Cr.
Nifty 500Nifty Smallcap 100Smallcap 250 Price band 20% Delivery 40.6%

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

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales2462596015201,0161,0351,046498543515628425
Expenses2993027755331,0251,0451,074505545489601423
Operating Profit-53-43-174-13-9-11-28-7-125272
OPM %-21%-17%-29%-2.4%-0.8%-1.0%-2.7%-1.5%-0.2%4.9%4.3%0.4%
Other Income10139-1114209891384728
Interest695760536264455153484530
Depreciation131414141413291513111813
Profit before tax-126-102-239-91-70-67-5-63-54-26436-32
Tax %0%0%0%0%0%0%0%0%0%0%0%0%
Net Profit-126-102-239-91-70-67-5-63-54-26436-32
EPS in Rs-1.31-1.06-2.49-0.95-0.73-0.70-0.05-0.66-0.56-0.274.53-0.34
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,2521,5281,4751,6682,0592,3621,8611,3951,2643,6162,1842,111
Expenses1,4241,6331,3941,7691,9132,3111,7521,5491,5823,6762,1402,058
Operating Profit-172-10581-10014651109-154-318-604453
OPM %-14%-7%6%-6%7%2.2%6%-11%-25%-1.7%2.0%2.5%
Other Income5945413273361841612555343120503501
Interest157153153106141160192210241224197176
Depreciation131725374242515053695654
Profit before tax2512662319314711120-360-569-233293324
Tax %0%0%0%0%0%0%0%0%0%0%0%
Net Profit2512662319314711120-360-569-233293324
EPS in Rs8.724.763.031.031.590.121.29-3.79-5.92-2.433.043.36
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth6%-2%16%-41%
Compounded Profit Growth%%16%51%
Stock Price CAGR25%14%7%-19%
Return on Equity-3%-12%-18%-9%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital288288560760897925934934950961961963
Reserves1253894998688971,3571,4751,6401,390789611889
Borrowings1,5211,4391,5241,2261,2591,2161,4651,6131,8771,8011,481765
Other Liabilities3,4413,7522,9654,1893,9434,2255,0435,3945,2806,0547,3406,676
Total Liabilities5,3745,8685,5487,0446,9957,7238,9179,5809,4979,60510,3929,293
Fixed Assets2,4232,4582,5062,6202,6952,6932,7022,7292,7522,7322,7102,370
CWIP33921021491651891691501391421916
Investments000000000000
Other Assets2,9173,3182,9394,2744,1354,8416,0466,7016,6056,7307,6646,907
Total Assets5,3745,8685,5487,0446,9957,7238,9179,5809,4979,60510,3929,293
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-149-319-347-10922-19796-436-294974-154-135
Cash from Investing Activity-10-104-75-96-124-75-30617746-543669924
Cash from Financing Activity398273468364-19285198247241-322-485-913
Net Cash Flow239-15045158-12113-12-12-610930-124
Free Cash Flow-161-425-424-207-106-25992-493-33893744775
CFO/OP71%185%332%-134%-22%-135%187%-401%191%-306%256%-132%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1,170500525762581490394536635709403486
Inventory Days247751101261141671961182612154141
Days Payable3,6371,0211,2281,4821,1091,5001,5788551,2421,286492574
Cash Conversion Cycle-2,220-447-594-594-414-844-988-202-345-361-48-47
Working Capital Days-985-608-283-230-145-117-131-36-103-488-145-142
ROCE %-8%15%18%14%7%9%5%8%-4%-8%-1%1%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters90.28%90.28%90.00%90.00%90.00%90.00%90.00%90.02%90.02%90.02%90.02%90.02%
FIIs0.09%0.10%0.11%0.06%0.04%0.06%0.00%0.01%0.00%0.00%0.00%0.08%
DIIs0.01%0.02%0.02%0.03%0.03%0.04%0.04%0.04%0.05%0.05%0.06%0.06%
Government7.61%7.61%7.90%7.90%7.90%7.90%7.90%7.88%7.88%7.88%7.88%7.88%
Public1.99%1.99%1.97%2.01%2.02%1.99%2.04%2.04%2.05%2.04%2.03%1.94%
No. of Shareholders80,14497,9791,00,3211,07,4681,05,1441,60,1542,05,5071,94,1221,78,6321,66,3601,62,2491,51,049

Fundamentals

Market Cap₹ 23,443 Cr.
Current Price₹ 243
Book Value₹ 19.2
ROCE1.43 %
ROE-9.13 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-41%
Compounded Profit Growth (TTM)51%
Standalone figures.
Valuation
Market capRs 23,264 Cr
Enterprise valueRs 23,678 Cr
P/E (TTM)71.89x
Price to book12.56x
Price to sales11.02x
EV / EBITDA42.73x
EV / EBIT47.39x
EV / sales11.22x
Earnings yield1.39%
P/B, 3-year average14.56x
P/E, 5-year average74.98x
P/B, 5-year average9.07x
Profitability
Operating margin (excl. other income)2.00%
Operating margin (incl. other income)25.01%
EBITDA margin26.25%
Pre-tax margin15.33%
Net profit margin15.33%
Net margin, latest quarter-7.64%
ROE17.10%
ROCE17.28%
ROA2.97%
ROE, 3-year average-8.26%
ROCE, 3-year average2.85%
ROA, 3-year average-1.77%
ROE, 5-year average-6.92%
ROCE, 5-year average2.54%
ROA, 5-year average-1.56%
ROIC (approx.)22.05%
Other income / net worth27.14%
Growth
Sales growth (latest year)-39.62%
Sales CAGR, 3 years16.10%
Sales CAGR, 5 years-1.56%
Profit CAGR, 5 years92.07%
Sales growth QoQ-32.28%
Profit growth QoQ-107.45%
Sales growth YoY (latest quarter)-14.65%
Per share
EPS (TTM)Rs 3.36
EPS (latest quarter)Rs -0.34
EPS, 3-year averageRs -4.17
EPS, 5-year averageRs -2.71
Book value per shareRs 19.23
Sales per shareRs 21.91
Cash flow per shareRs -1.41
Free cash flow per shareRs 8.05
Efficiency
Asset turnover0.23x
Fixed asset turnover0.92x
Inventory turnover8.94x
Inventory days41 days
Debtor days486 days
Debtors turnover0.75x
Creditor days574 days
Cash conversion cycle-47 days
Working capital days-142 days
Leverage
Total debtRs 765 Cr
Cash and bankRs 351 Cr
Net debtRs 414 Cr
Debt to equity0.41x
Net debt / EBITDA0.75x
Interest coverage2.84x
Current ratio (filing 2026-03-31)0.90x
Quick ratio (filing 2026-03-31)0.87x
Trade payables (filing 2026-03-31)Rs 2,891 Cr
Owners' fund to total sources19.93%
Debt to assets8.23%
Cash flow
Cash from Operating Activity (latest year)Rs -135 Cr
Cash from Investing Activity (latest year)Rs 924 Cr
Cash from Financing Activity (latest year)Rs -913 Cr
Net Cash Flow (latest year)Rs -124 Cr
Free cash flow (latest year)Rs 775 Cr
FCFE (approx.: FCF + change in debt)Rs 59 Cr
Statement figures
Net sales (TTM)Rs 2,111 Cr
Net sales (latest year)Rs 2,184 Cr
Sales (latest quarter)Rs 425 Cr
Operating profit excl. other income (latest year)Rs 44 Cr
Operating profit (latest quarter)Rs 2 Cr
Other income (TTM)Rs 501 Cr
EBITDA (TTM)Rs 554 Cr
PBDT (TTM)Rs 378 Cr
Profit before tax (TTM)Rs 324 Cr
Net profit (TTM)Rs 324 Cr
Net profit (latest year)Rs 293 Cr
Net profit (latest quarter)Rs -32 Cr
Depreciation (TTM)Rs 54 Cr
Depreciation (latest quarter)Rs 13 Cr
Interest (TTM)Rs 176 Cr
Cost of goods sold (latest year)Rs 1,839 Cr
Total expenditure (latest year)Rs 2,140 Cr
Total income (latest year)Rs 2,686 Cr
Share capitalRs 963 Cr
ReservesRs 889 Cr
Shareholders' fundsRs 1,852 Cr
Total assetsRs 9,293 Cr
Net blockRs 2,370 Cr
Capital work in progressRs 16 Cr
InvestmentsRs 0 Cr
ReceivablesRs 2,906 Cr
InventoryRs 206 Cr
Other liabilitiesRs 6,676 Cr
Shares outstanding (crore)96.32
Ownership
Promoter holding90.02% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 71.7 is at the 42th percentile of its own 5.5-year range (median 74.9, low 32.5, high 98.6).
P/B 12.53 is at the 72th percentile (median 5.54).
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.
PeriodITINifty 50Difference
1 week-3.8%-2.8% -1.0 pts
1 month-10.1%-6.8% -3.3 pts
3 months-18.9%-7.6% -11.3 pts
6 months+1.0%+0.4% +0.6 pts
1 year-22.2%-9.9% -12.3 pts
2 years-14.5%-13.6% -0.9 pts
3 years+20.1%+14.2% +5.9 pts
5 years+94.2%+27.9% +66.3 pts
30 mutual fund schemes hold about ₹13 Cr. Over three months 27 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Nippon India Nifty Smallcap 250 Index Fund0.12%4 +9%
SBI Nifty Smallcap 250 Index Fund0.12%2 +8%
Motilal Oswal Nifty Smallcap 250 Index Fund0.12%2 +8%
Nippon India Nifty 500 Equal Weight Index Fund0.19%1 +19%
ICICI Pru Nifty Smallcap 250 Index Fund0.12%1 +9%
HDFC NIFTY Smallcap 250 Index Fund0.12%1 +9%
JioBlackRock Nifty Smallcap 250 Index Fund0.12%0 +9%
Motilal Oswal Nifty 500 Index Fund0.01%0 +7%
Edelweiss Nifty Smallcap 250 Index Fund0.12%0 +9%
HDFC Nifty India Digital Index Fund0.21%0 -3%
Groww Nifty Smallcap 250 Index Fund0.12%0 +8%
HDFC Nifty500 Multicap 50:25:25 Index Fund0.03%0 +9%
Bandhan Nifty Smallcap 250 Index Fund0.12%0 +9%
Kotak Nifty Smallcap 250 Index Fund0.12%0 +9%
SBI Nifty 500 Index Fund0.01%0 +7%
Groww Nifty India Railways PSU Index Fund0.09%0 +16%
Groww Nifty Total Market Index Fund0.01%0 +6%
UTI Nifty500 Shariah Index Fund0.04%0 +2%
Axis Nifty 500 Index Fund0.01%0 +7%
DSP Nifty Smallcap 250 Index Fund0.12%0 +8%
ICICI Pru Nifty 500 Index Fund0.01%0 +7%
Angel One Nifty Total Market Index Fund0.01%0 +6%
Mirae Asset Nifty Total Market Index Fund0.01%0 +14%
UTI Nifty 500 Index Fund0.01%0 +100%
Navi Nifty MidSmallcap 400 Index Fund0.04%0 +7%

Red flags

F-score 5 of 8
lookProfit leans on other income Other income was 172% of pre-tax profit 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
2024-03-12President of IndiaPromotersother2,736,405Inter-se-Transfer
2023-05-11President of IndiaPromotersother11,309,586Rs 107.00 CrPreferential Offer
2022-09-28President of IndiaPromotersother7,733,204Rs 80.00 CrOthers
2022-05-25President of IndiaPromotersother8,321,279Rs 71.56 CrOthers
2022-02-17President of IndiaPromotersother840,336Off Market
2016-08-08President of IndiaPromotersother192,000,000Rs 192.00 Cr-
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 ₹425 Cr -14.7% vs Jun 2025. Net loss ₹32 Cr.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-10-31Annual General Meeting
2023-09-21Annual General Meeting
2022-09-20Annual General Meeting
2021-11-02 Annual General Meeting
2020-11-26 Annual General Meeting
2019-12-19 Annual General Meeting
2018-09-18 Annual General Meeting
2017-09-19 Annual General Meeting
2016-09-09 Annual General Meeting
2015-09-11 Annual General Meeting
2014-09-16Annual General Meeting
2013-09-17Annual General Meeting
2012-09-18Annual General Meeting
2011-09-19Annual General Meeting
2010-09-17Annual General Meeting
2009-09-17Annual General Meeting
2007-09-19Agm
2006-12-06Agm
DateTypeWhat it says
2026-09-19Extension of Annual General Extension of Annual General Meeting
2026-08-19General UpdatesIntimation under Regulation 30 with respect to the RFP for the e-Auction of ITI Land Parcel at Krishnarajapuram, Bengaluru, Karnataka.
2026-08-18Disclosure under SEBI TakeovKavitha L. Under Secretary to Government Finance Department has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securitie...
2026-08-13Board meeting outcomeITI Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-11News clarificationThe Exchange has sought clarification from ITI Limited with respect to recent news item captioned ITI shares jump over 4% after pact with Airtel Busin...
2026-08-11Director changeChange in Director(s) of the company.
2026-08-10Press ReleaseA press release dated August 10, 2026, titled " Airtel Business and ITI Limited enter into strategic partnership to accelerate India s digital transfo...
2026-08-10News clarificationThe Exchange has sought clarification from ITI Limited with respect to recent news item captioned ITI shares jump over 4% after pact with Airtel Busin...
2026-08-04Credit RatingCredit Rating
2026-08-01AppointmentAppointment of Shri Ajai Kumar Srivastava as Executive Director of the company w.e.f. July 31, 2026.
2026-07-27AppointmentAppointment of Lt. Gen. Vivek Dogra as Other of the company w.e.f. July 27, 2026.
2026-07-16Press ReleaseA press release dated July 16, 2026, titled "ITI Limited Wins 4G Expansion Phase IX Order from BSNL Worth Rs. 856.39 Crores.
2026-07-03General UpdatesGeneral Updates
2026-07-03Disclosure of material issueITI Limited has informed regarding Disclosure of material issue
2026-07-01AppointmentAppointment of Shri Rajesh Rai as Executive Director of the company w.e.f. July 01, 2026.
2026-06-30CessationCessation of Smt. S. Jeyanthi as Executive Director of the company w.e.f. Jun 30, 2026.
2026-06-15Director changeChange in Director(s) of the company.
2026-06-11General UpdatesGeneral Updates
2026-06-09Disclosure under SEBI TakeovHonble President of India has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Sub...
2026-06-02Board meeting outcomeITI Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-29Change in ManagementChange in Management
2026-05-29Board meeting outcomeITI Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-28Change in ManagementChange in Management
2026-05-21Change in ManagementChange in Management
2026-05-02ResignationResignation of Mr Shri Prasad Barre as Chief Financial Officer of the company w.e.f. April 30, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2020-05-08NCLTITI Management Advisors Limted Vs N/A
2020-04-23NCLTITI Management Advisors Limted Vs N/A
2018-02-27CESTATITI LIMITED ---VS.--- SERVICE TAX - DELHI
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of ITI Ltd?

ITI Ltd (ITI) has a market capitalisation of Rs 23,443 Cr. at the 2026-10-01 close.

What were ITI Ltd's latest quarterly results?

In the Jun 2026 quarter, ITI Ltd sales was Rs 425 Cr (-14.7% vs Jun 2025) with a net loss of Rs 32 Cr.

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

The 52-week high is Rs 372.85 and the 52-week low is Rs 237.00.

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