ITC Ltd

₹ 284 1.30%

10 Jun - close price

About

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]

Key Points

Business Segments FY26 ^[1]

Website BSE NSE

Market Cap ₹ 3,55,398 Cr.
Current Price ₹ 284
High / Low ₹ 427 / 275
Stock P/E 17.0
Book Value ₹ 57.9
Dividend Yield 5.11 %
ROCE 38.9 %
ROE 29.3 %
Face Value ₹ 1.00

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Pros

Company is almost debt free.
Stock is providing a good dividend yield of 5.11%.
Company has a good return on equity (ROE) track record: 3 Years ROE 28.1%
Company has been maintaining a healthy dividend payout of 74.5%

Cons

The company has delivered a poor sales growth of 9.87% over past five years.
Working capital days have increased from 75.7 days to 144 days

* 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.

Peer comparison

Fast Moving Consumer Goods Fast Moving Consumer Goods Diversified FMCG Diversified FMCG

Part of BSE Sensex Nifty 50 BSE 500 BSE Fast Moving Consumer Goods BSE 100 BSE 200 BSE Dollex 200 Nifty 500 BSE Dollex 30 Nifty 100 BSE Dollex 100 Nifty FMCG Nifty India Consumption Nifty 200 Nifty Dividend Opportunities 50 Nifty Low Volatility 50 Nifty50 Value 20 Nifty 100 Equal Weight BSE India Manufacturing Index BSE SENSEX 50 Nifty100 Quality 30 BSE Bharat 22 Index BSE 100 ESG Index (INR) BSE 250 LargeMidCap Index BSE Dividend Stability Index BSE Low Volatility Index BSE Quality Index Nifty 50 Equal Weight Nifty 100 Low Volatility 30 BSE 100 LargeCap TMC Index Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty200 Quality 30 Nifty Total Market Nifty Quality Low-Volatility 30 Nifty Alpha Quality Low-Volatility 30 Nifty Alpha Quality Value Low-Volatility 30 BSE 200 Equal Weight BSE Sensex Sixty 65:35 BSE Sensex Sixty Nifty Top 10 Equal Weight Index BSE Sensex Equal Weight Nifty Non-Cyclical Consumer Nifty Top 15 Equal Weight Nifty500 Equal Weight Nifty Top 20 Equal Weight Nifty Rural Nifty500 LargeMidSmall Equal-Cap Weighted BSE India 150 BSE India Sector Leaders BSE 1000 BSE 500 Quality 50 BSE 500 Dividend Leaders 50 Nifty500 Flexicap Quality 30 Nifty India FPI 150

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	17,635	17,164	17,774	17,195	17,038	17,778	19,990	18,790	18,765	21,495	19,502	20,047	17,825
	11,011	10,494	11,320	10,985	10,736	11,233	13,438	12,428	12,246	14,678	12,807	13,165	10,900
Operating Profit	6,624	6,670	6,454	6,210	6,302	6,545	6,552	6,362	6,519	6,816	6,695	6,883	6,924
OPM %	38%	39%	36%	36%	37%	37%	33%	34%	35%	32%	34%	34%	39%
	683	722	674	820	868	771	690	803	15,391	751	739	322	700
Interest	12	10	10	12	11	10	15	10	11	16	20	19	29
Depreciation	461	442	453	384	385	403	416	416	411	423	435	431	422
Profit before tax	6,833	6,940	6,665	6,635	6,774	6,903	6,811	6,740	21,489	7,128	6,979	6,754	7,173
Tax %	24%	25%	26%	19%	23%	25%	26%	26%	8%	25%	26%	26%	24%
	5,243	5,190	4,965	5,407	5,191	5,177	5,054	5,013	19,808	5,343	5,187	5,018	5,470
EPS in Rs	4.16	4.10	3.93	4.28	4.10	4.08	3.99	3.94	15.76	4.19	4.09	3.94	4.30
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	38,817	39,192	42,768	43,449	48,340	49,388	49,257	60,645	70,919	67,932	75,323	78,868
	24,566	24,661	27,298	26,928	29,802	30,044	32,193	40,021	45,215	42,744	49,484	51,550
Operating Profit	14,252	14,531	15,470	16,521	18,537	19,344	17,065	20,623	25,704	25,188	25,839	27,318
OPM %	37%	37%	36%	38%	38%	39%	35%	34%	36%	37%	34%	35%
	1,229	1,483	1,759	2,240	2,080	2,417	2,577	1,910	2,098	3,330	17,795	2,511
Interest	91	78	49	115	71	81	58	60	78	39	45	85
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
Profit before tax	14,362	14,859	16,026	17,409	19,150	20,035	17,938	20,740	25,915	26,961	41,943	28,033
Tax %	32%	36%	35%	34%	33%	22%	25%	25%	25%	23%	16%	25%
	9,779	9,501	10,477	11,493	12,836	15,593	13,383	15,503	19,477	20,751	35,052	21,018
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
Dividend Payout %	52%	73%	56%	56%	56%	82%	101%	93%	100%	84%	52%	88%

Compounded Sales Growth
10 Years:	7%
5 Years:	10%
3 Years:	4%
TTM:	5%

Compounded Profit Growth
10 Years:	8%
5 Years:	10%
3 Years:	3%
TTM:	6%

Stock Price CAGR
10 Years:	3%
5 Years:	8%
3 Years:	-12%
1 Year:	-33%

Return on Equity
10 Years:	25%
5 Years:	28%
3 Years:	28%
Last Year:	29%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	30,934	41,875	45,198	51,290	57,915	64,044	59,116	61,223	67,912	73,259	68,779	71,254
	269	84	46	36	13	277	271	249	306	303	285	2,399
	13,948	8,888	9,440	11,695	12,585	11,760	13,143	14,491	16,370	16,944	17,688	18,886
Total Liabilities	45,952	51,651	55,898	64,241	71,739	77,311	73,761	77,196	85,831	91,754	88,003	93,792
	15,303	15,107	15,893	16,524	19,374	21,713	23,298	24,232	25,851	27,820	21,955	22,545
CWIP	2,700	2,560	3,730	5,508	4,136	3,256	4,011	3,226	3,003	2,861	1,091	1,499
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
	21,006	22,237	18,694	20,156	23,185	23,678	21,580	24,898	27,561	29,959	30,237	31,620
Total Assets	45,952	51,651	55,898	64,241	71,739	77,311	73,761	77,196	85,831	91,754	88,003	93,792

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	9,843	9,799	10,627	13,169	12,583	14,690	12,527	15,776	18,878	17,179	17,627	18,464
	-5,275	-3,921	-3,251	-7,114	-5,546	-6,174	5,740	-2,238	-5,732	1,563	-564	-2,321
	-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%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	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	144
ROCE %	47%	40%	36%	34%	34%	32%	28%	33%	39%	36%	37%	39%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Cumulative Paperboard Plantation/Afforestation Area
Lakh Acres

x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	xx.xx	x.xx	xx.xx	xx.xx	xx.xx
xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
x	x	x		x	x	x	x	x	x	x
x,xxx			x,xxx		xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
				x.xx		x.xx	x.xx	x.xx	x.xx	x.xx
									x.xx	x.xx

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FMCG Brands Annual Consumer Spend
Rs. Crores

Retail Outlet Reach
Million Outlets

Hotels Total Room Inventory
Rooms

Agri-Commodity Sourcing Volume
Million Tonnes

ITCMAARS Farmer Registrations
Million Farmers

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	43.62%	43.34%	43.26%	40.95%	40.47%	40.53%	40.17%	39.87%	37.98%	37.39%	36.11%	34.83%
	41.92%	41.94%	41.98%	43.76%	44.02%	44.59%	44.91%	45.19%	46.91%	47.41%	48.90%	49.15%
	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%
	14.41%	14.68%	14.71%	15.23%	15.47%	14.83%	14.88%	14.90%	15.07%	15.16%	14.95%	15.96%
No. of Shareholders	30,13,793	32,74,360	33,35,815	36,48,537	37,56,541	35,68,560	37,10,169	36,47,886	36,48,989	36,66,407	36,08,157	40,41,653

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	20.08%	18.00%	17.04%	14.65%	12.79%	11.99%	43.35%	40.95%	39.87%	34.83%
	35.79%	37.10%	38.20%	42.46%	42.50%	42.77%	42.08%	43.76%	45.19%	49.15%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	0.04%	0.04%	0.04%
	44.13%	44.90%	44.76%	42.89%	44.71%	45.24%	14.52%	15.23%	14.90%	15.96%
No. of Shareholders	5,47,642	7,95,843	8,57,729	13,02,214	21,96,475	28,40,964	29,30,527	36,48,537	36,47,886	40,41,653

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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