ITC Ltd
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]
- Market Cap ₹ 3,50,264 Cr.
- Current Price ₹ 279
- High / Low ₹ 427 / 275
- Stock P/E 17.2
- Book Value ₹ 55.8
- Dividend Yield 5.19 %
- ROCE 38.6 %
- ROE 29.6 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Stock is providing a good dividend yield of 5.19%.
- Company has a good return on equity (ROE) track record: 3 Years ROE 35.9%
- Company has been maintaining a healthy dividend payout of 74.9%
Cons
- The company has delivered a poor sales growth of 9.62% over past five years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 36,490 | 36,583 | 40,080 | 40,620 | 44,983 | 45,620 | 45,485 | 56,341 | 66,043 | 62,628 | 69,326 | 71,984 | |
| 22,970 | 22,843 | 25,474 | 25,041 | 27,551 | 27,635 | 29,895 | 37,448 | 42,062 | 39,193 | 45,419 | 46,787 | |
| Operating Profit | 13,519 | 13,740 | 14,605 | 15,578 | 17,431 | 17,985 | 15,590 | 18,893 | 23,981 | 23,435 | 23,906 | 25,196 |
| OPM % | 37% | 38% | 36% | 38% | 39% | 39% | 34% | 34% | 36% | 37% | 34% | 35% |
| 1,518 | 1,767 | 1,981 | 2,528 | 2,382 | 2,825 | 3,195 | 2,649 | 2,506 | 4,100 | 19,206 | 3,115 | |
| Interest | 78 | 72 | 45 | 110 | 58 | 80 | 59 | 61 | 74 | 34 | 36 | 70 |
| Depreciation | 962 | 1,001 | 1,038 | 1,145 | 1,312 | 1,563 | 1,562 | 1,652 | 1,663 | 1,357 | 1,442 | 1,474 |
| Profit before tax | 13,998 | 14,434 | 15,503 | 16,852 | 18,444 | 19,167 | 17,164 | 19,830 | 24,750 | 26,144 | 41,634 | 26,768 |
| Tax % | 31% | 35% | 34% | 33% | 32% | 21% | 24% | 24% | 24% | 22% | 15% | 24% |
| 9,608 | 9,328 | 10,201 | 11,223 | 12,464 | 15,136 | 13,032 | 15,058 | 18,753 | 20,422 | 35,197 | 20,286 | |
| EPS in Rs | 7.99 | 7.73 | 8.40 | 9.20 | 10.17 | 12.31 | 10.59 | 12.22 | 15.09 | 16.36 | 28.13 | 16.19 |
| Dividend Payout % | 52% | 73% | 57% | 56% | 57% | 82% | 102% | 94% | 103% | 84% | 51% | 90% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 10% |
| 3 Years: | 3% |
| TTM: | 4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 8% |
| 5 Years: | 9% |
| 3 Years: | 3% |
| TTM: | -41% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 7% |
| 3 Years: | -14% |
| 1 Year: | -34% |
| Return on Equity | |
|---|---|
| 10 Years: | 28% |
| 5 Years: | 33% |
| 3 Years: | 36% |
| Last Year: | 30% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 | 29,934 | 40,852 | 44,126 | 50,180 | 56,724 | 62,800 | 57,774 | 60,167 | 66,351 | 70,985 | 66,642 | 68,676 |
| 53 | 42 | 26 | 18 | 11 | 332 | 329 | 311 | 325 | 312 | 157 | 2,162 | |
| 13,407 | 8,333 | 8,849 | 10,963 | 11,837 | 10,874 | 12,246 | 13,382 | 14,343 | 14,782 | 15,954 | 16,825 | |
| Total Liabilities | 44,196 | 50,031 | 54,216 | 62,381 | 69,798 | 75,235 | 71,580 | 75,092 | 82,262 | 87,328 | 84,005 | 88,916 |
| 14,178 | 14,011 | 14,880 | 15,566 | 18,486 | 20,518 | 22,188 | 23,221 | 24,174 | 25,743 | 19,990 | 20,472 | |
| CWIP | 2,114 | 2,419 | 3,537 | 5,026 | 3,401 | 2,780 | 3,333 | 2,466 | 1,697 | 1,087 | 1,071 | 1,554 |
| Investments | 8,405 | 13,325 | 18,585 | 23,397 | 26,578 | 30,631 | 26,984 | 27,282 | 32,721 | 34,739 | 35,983 | 39,111 |
| 19,498 | 20,277 | 17,213 | 18,393 | 21,332 | 21,307 | 19,075 | 22,123 | 23,670 | 25,759 | 26,962 | 27,779 | |
| Total Assets | 44,196 | 50,031 | 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 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9,309 | 9,212 | 10,002 | 12,651 | 11,749 | 13,806 | 11,494 | 14,808 | 17,912 | 16,118 | 16,754 | 17,095 | |
| -4,820 | -3,711 | -2,780 | -6,691 | -5,082 | -5,517 | 6,555 | -1,517 | -5,159 | 2,128 | 36 | -1,538 | |
| -4,574 | -5,465 | -7,138 | -6,020 | -6,601 | -7,891 | -18,379 | -13,337 | -12,730 | -18,255 | -16,766 | -15,694 | |
| Net Cash Flow | -85 | 36 | 84 | -60 | 67 | 399 | -330 | -46 | 22 | -9 | 24 | -138 |
| Free Cash Flow | 6,264 | 7,074 | 7,105 | 10,103 | 8,990 | 11,693 | 9,914 | 13,133 | 16,102 | 13,572 | 15,123 | 15,075 |
| CFO/OP | 100% | 102% | 104% | 118% | 99% | 103% | 99% | 102% | 99% | 93% | 95% | 91% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 17 | 17 | 20 | 21 | 30 | 17 | 17 | 13 | 13 | 19 | 21 | 15 |
| Inventory Days | 195 | 231 | 180 | 167 | 160 | 170 | 173 | 139 | 134 | 173 | 173 | 203 |
| Days Payable | 47 | 60 | 58 | 78 | 71 | 73 | 75 | 59 | 55 | 61 | 52 | 60 |
| Cash Conversion Cycle | 165 | 188 | 141 | 110 | 119 | 114 | 115 | 93 | 92 | 130 | 142 | 158 |
| Working Capital Days | -13 | 48 | 44 | 28 | 30 | 28 | 29 | 26 | 14 | 32 | 43 | 46 |
| ROCE % | 48% | 40% | 35% | 34% | 34% | 32% | 28% | 33% | 38% | 36% | 37% | 39% |
Insights
In beta| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| FMCG Others Segment EBITDA Rs. cr |
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| ITC Infotech Revenue Rs. cr |
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| FMCG Cigarettes Segment Revenue Rs. cr |
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| FMCG Others Segment Revenue Rs. cr |
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| ICMLs (Integrated Consumer Goods Manufacturing & Logistics facilities) count |
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| UNNATI eB2B Outlet Coverage lakh outlets |
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| FoodTech (Cloud Kitchens) GMV Rs. cr |
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| Digital-first & Organic Portfolio ARR Rs. cr |
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Extracted by Screener AI
Documents
Announcements
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
3 Jul - ITC filed Regulation 74(5) certificate for quarter ended 30 June 2026.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
1 Jul - Publication of Notice re: completion of despatch of the Notice of the 115th Annual General Meeting.
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Business Responsibility and Sustainability Reporting (BRSR)
26 Jun - ITC filed 2025-26 annual report, BRSR, and AGM notice for 23 July 2026.
- Notice Of 115Th Annual General Meeting Of The Company 26 Jun
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Reg. 34 (1) Annual Report.
26 Jun - ITC filed FY26 annual report, business responsibility report, and notice for 115th AGM on 23 July 2026.
Annual reports
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Financial Year 2026
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
from nse
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Financial Year 2013
from bse
Concalls
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Business Segments FY26 [1]