ITC Ltd: Intrinsic Value & Share Price Analysis

Q: What is the intrinsic value of ITC Ltd?

ITC Ltd's intrinsic value (as of 05 January 2026) is 279.73 which is 20.08% lower than the current market price of 350.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 4,38,576 Cr. market cap, FY2025-2026 high/low of 472/345, reserves of ₹69,819 Cr, and liabilities of 90,803 Cr.

Q: What is the High / Low of ITC Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of ITC Ltd stocks is 472/345.

Share Price and Basic Stock Data

Last Updated: January 3, 2026, 11:37 am

Market Cap	4,38,576 Cr.
Current Price	350
High / Low	472/345
Stock P/E	21.7
Book Value	56.7
Dividend Yield	4.10 %
ROCE	36.8 %
ROE	27.3 %
Face Value	1.00
PEG Ratio	1.22

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for ITC Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
ITC Ltd	4,38,576 Cr.	350	472/345	21.7	56.7	4.10 %	36.8 %	27.3 %	1.00
Industry Average	438,576.00 Cr	350.00		21.70	56.70	4.10%	36.80%	27.30%	1.00

All Competitor Stocks of ITC Ltd

Quarterly Result

Metric	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	17,108	17,705	17,635	17,164	17,774	17,195	17,038	17,778	19,990	18,790	18,765	21,495	19,502
Expenses	10,849	11,000	11,011	10,494	11,320	10,985	10,736	11,233	13,438	12,428	12,246	14,678	12,807
Operating Profit	6,259	6,705	6,624	6,670	6,454	6,210	6,302	6,545	6,552	6,362	6,519	6,816	6,695
OPM %	37%	38%	38%	39%	36%	36%	37%	37%	33%	34%	35%	32%	34%
Other Income	455	595	683	722	674	820	868	771	690	803	15,391	751	739
Interest	13	9	12	10	10	12	11	10	15	10	11	16	20
Depreciation	462	447	461	442	453	384	385	403	416	416	411	423	435
Profit before tax	6,239	6,844	6,833	6,940	6,665	6,635	6,774	6,903	6,811	6,740	21,489	7,128	6,979
Tax %	25%	26%	24%	25%	26%	19%	23%	25%	26%	26%	8%	25%	26%
Net Profit	4,682	5,080	5,243	5,190	4,965	5,407	5,191	5,177	5,054	5,013	19,808	5,343	5,187
EPS in Rs	3.73	4.03	4.16	4.10	3.93	4.28	4.10	4.08	3.99	3.94	15.76	4.19	4.09

Last Updated: January 1, 2026, 6:16 am

Below is a detailed analysis of the quarterly data for ITC Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

For Sales, as of Sep 2025, the value is 19,502.00 Cr.. The value appears to be declining and may need further review. It has decreased from 21,495.00 Cr. (Jun 2025) to 19,502.00 Cr., marking a decrease of 1,993.00 Cr..
For Expenses, as of Sep 2025, the value is 12,807.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 14,678.00 Cr. (Jun 2025) to 12,807.00 Cr., marking a decrease of 1,871.00 Cr..
For Operating Profit, as of Sep 2025, the value is 6,695.00 Cr.. The value appears to be declining and may need further review. It has decreased from 6,816.00 Cr. (Jun 2025) to 6,695.00 Cr., marking a decrease of 121.00 Cr..
For OPM %, as of Sep 2025, the value is 34.00%. The value appears strong and on an upward trend. It has increased from 32.00% (Jun 2025) to 34.00%, marking an increase of 2.00%.
For Other Income, as of Sep 2025, the value is 739.00 Cr.. The value appears to be declining and may need further review. It has decreased from 751.00 Cr. (Jun 2025) to 739.00 Cr., marking a decrease of 12.00 Cr..
For Interest, as of Sep 2025, the value is 20.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 16.00 Cr. (Jun 2025) to 20.00 Cr., marking an increase of 4.00 Cr..
For Depreciation, as of Sep 2025, the value is 435.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 423.00 Cr. (Jun 2025) to 435.00 Cr., marking an increase of 12.00 Cr..
For Profit before tax, as of Sep 2025, the value is 6,979.00 Cr.. The value appears to be declining and may need further review. It has decreased from 7,128.00 Cr. (Jun 2025) to 6,979.00 Cr., marking a decrease of 149.00 Cr..
For Tax %, as of Sep 2025, the value is 26.00%. The value appears to be increasing, which may not be favorable. It has increased from 25.00% (Jun 2025) to 26.00%, marking an increase of 1.00%.
For Net Profit, as of Sep 2025, the value is 5,187.00 Cr.. The value appears to be declining and may need further review. It has decreased from 5,343.00 Cr. (Jun 2025) to 5,187.00 Cr., marking a decrease of 156.00 Cr..
For EPS in Rs, as of Sep 2025, the value is 4.09. The value appears to be declining and may need further review. It has decreased from 4.19 (Jun 2025) to 4.09, marking a decrease of 0.10.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 5:10 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	35,306	38,817	39,192	42,768	43,449	48,340	49,388	49,257	60,645	70,919	67,932	75,323	78,552
Expenses	22,227	24,566	24,661	27,298	26,928	29,802	30,044	32,193	40,021	45,215	42,744	49,484	52,159
Operating Profit	13,080	14,252	14,531	15,470	16,521	18,537	19,344	17,065	20,623	25,704	25,188	25,839	26,392
OPM %	37%	37%	37%	36%	38%	38%	39%	35%	34%	36%	37%	34%	34%
Other Income	966	1,229	1,483	1,759	2,240	2,080	2,417	2,577	1,910	2,098	3,330	17,795	17,684
Interest	29	91	78	49	115	71	81	58	60	78	39	45	57
Depreciation	965	1,028	1,077	1,153	1,236	1,397	1,645	1,646	1,732	1,809	1,518	1,646	1,685
Profit before tax	13,052	14,362	14,859	16,026	17,409	19,150	20,035	17,938	20,740	25,915	26,961	41,943	42,335
Tax %	31%	32%	36%	35%	34%	33%	22%	25%	25%	25%	23%	16%
Net Profit	9,001	9,779	9,501	10,477	11,493	12,836	15,593	13,383	15,503	19,477	20,751	35,052	35,351
EPS in Rs	7.45	8.04	7.74	8.47	9.24	10.27	12.45	10.69	12.37	15.44	16.39	27.77	27.98
Dividend Payout %	54%	52%	73%	56%	56%	56%	82%	101%	93%	100%	84%	52%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	8.64%	-2.84%	10.27%	9.70%	11.69%	21.48%	-14.17%	15.84%	25.63%	6.54%	68.92%
Change in YoY Net Profit Growth (%)	0.00%	-11.49%	13.12%	-0.58%	1.99%	9.79%	-35.65%	30.01%	9.79%	-19.09%	62.38%

ITC Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	7%
5 Years:	9%
3 Years:	7%
TTM:	13%

Compounded Profit Growth
10 Years:	8%
5 Years:	5%
3 Years:	9%
TTM:	0%

Stock Price CAGR
10 Years:	8%
5 Years:	19%
3 Years:	11%
1 Year:	-13%

Return on Equity
10 Years:	25%
5 Years:	26%
3 Years:	28%
Last Year:	27%

Last Updated: September 5, 2025, 7:55 am

Balance Sheet

Last Updated: December 4, 2025, 1:27 am

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	795	802	805	1,215	1,220	1,226	1,229	1,231	1,232	1,243	1,248	1,251	1,253
Reserves	26,442	30,934	41,875	45,198	51,290	57,915	64,044	59,116	61,223	67,912	73,259	68,779	69,819
Borrowings	242	269	84	46	36	13	277	271	249	306	303	285	363
Other Liabilities	13,369	13,948	8,888	9,440	11,695	12,585	11,760	13,143	14,491	16,370	16,944	17,688	19,368
Total Liabilities	40,848	45,952	51,651	55,898	64,241	71,739	77,311	73,761	77,196	85,831	91,754	88,003	90,803
Fixed Assets	12,921	15,303	15,107	15,893	16,524	19,374	21,713	23,298	24,232	25,851	27,820	21,955	22,400
CWIP	3,117	2,700	2,560	3,730	5,508	4,136	3,256	4,011	3,226	3,003	2,861	1,091	1,305
Investments	7,284	6,943	11,748	17,581	22,053	25,043	28,663	24,871	24,841	29,415	31,114	34,720	32,548
Other Assets	17,526	21,006	22,237	18,694	20,156	23,185	23,678	21,580	24,898	27,561	29,959	30,237	34,550
Total Assets	40,848	45,952	51,651	55,898	64,241	71,739	77,311	73,761	77,196	85,831	91,754	88,003	90,803

Below is a detailed analysis of the balance sheet data for ITC Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

For Equity Capital, as of Sep 2025, the value is 1,253.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,251.00 Cr. (Mar 2025) to 1,253.00 Cr., marking an increase of 2.00 Cr..
For Reserves, as of Sep 2025, the value is 69,819.00 Cr.. The value appears strong and on an upward trend. It has increased from 68,779.00 Cr. (Mar 2025) to 69,819.00 Cr., marking an increase of 1,040.00 Cr..
For Borrowings, as of Sep 2025, the value is 363.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 285.00 Cr. (Mar 2025) to 363.00 Cr., marking an increase of 78.00 Cr..
For Other Liabilities, as of Sep 2025, the value is 19,368.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 17,688.00 Cr. (Mar 2025) to 19,368.00 Cr., marking an increase of 1,680.00 Cr..
For Total Liabilities, as of Sep 2025, the value is 90,803.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 88,003.00 Cr. (Mar 2025) to 90,803.00 Cr., marking an increase of 2,800.00 Cr..
For Fixed Assets, as of Sep 2025, the value is 22,400.00 Cr.. The value appears strong and on an upward trend. It has increased from 21,955.00 Cr. (Mar 2025) to 22,400.00 Cr., marking an increase of 445.00 Cr..
For CWIP, as of Sep 2025, the value is 1,305.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,091.00 Cr. (Mar 2025) to 1,305.00 Cr., marking an increase of 214.00 Cr..
For Investments, as of Sep 2025, the value is 32,548.00 Cr.. The value appears to be declining and may need further review. It has decreased from 34,720.00 Cr. (Mar 2025) to 32,548.00 Cr., marking a decrease of 2,172.00 Cr..
For Other Assets, as of Sep 2025, the value is 34,550.00 Cr.. The value appears strong and on an upward trend. It has increased from 30,237.00 Cr. (Mar 2025) to 34,550.00 Cr., marking an increase of 4,313.00 Cr..
For Total Assets, as of Sep 2025, the value is 90,803.00 Cr.. The value appears strong and on an upward trend. It has increased from 88,003.00 Cr. (Mar 2025) to 90,803.00 Cr., marking an increase of 2,800.00 Cr..

Notably, the Reserves (69,819.00 Cr.) exceed the Borrowings (363.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	7,344	9,843	9,799	10,627	13,169	12,583	14,690	12,527	15,776	18,878	17,179	17,627
Cash from Investing Activity +	-3,254	-5,275	-3,921	-3,251	-7,114	-5,546	-6,174	5,740	-2,238	-5,732	1,563	-564
Cash from Financing Activity +	-4,122	-4,661	-5,613	-7,301	-6,221	-6,869	-8,181	-18,634	-13,580	-13,006	-18,551	-17,037
Net Cash Flow	-32	-93	266	75	-166	169	334	-367	-43	139	191	26

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-229.00	-255.00	-70.00	-31.00	-20.00	5.00	-258.00	-254.00	-229.00	-281.00	-278.00	-260.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	25	19	18	21	23	30	19	19	15	15	22	23
Inventory Days	228	212	244	185	173	165	187	189	150	148	191	178
Days Payable	58	50	63	60	80	74	76	78	61	59	65	55
Cash Conversion Cycle	195	181	199	145	115	122	129	129	104	105	148	146
Working Capital Days	7	-6	51	45	31	32	35	36	31	20	39	45
ROCE %	50%	47%	40%	36%	34%	34%	32%	28%	33%	39%	36%	37%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
FIIs	42.99%	43.35%	43.62%	43.34%	43.26%	40.95%	40.47%	40.53%	40.17%	39.87%	37.98%	37.39%
DIIs	42.19%	42.08%	41.92%	41.94%	41.98%	43.76%	44.02%	44.59%	44.91%	45.19%	46.91%	47.41%
Government	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	14.78%	14.52%	14.41%	14.68%	14.71%	15.23%	15.47%	14.83%	14.88%	14.90%	15.07%	15.16%
No. of Shareholders	29,36,692	29,30,527	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

Shareholding Pattern Chart

No. of Shareholders

ITC Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Parag Parikh Flexi Cap Fund	144,737,169	4.51	5851	138,771,024	2025-12-15 00:51:39	4.3%
ICICI Prudential Value Fund	55,947,170	3.75	2261.66	33,732,006	2025-12-15 00:51:39	65.86%
Mirae Asset Large Cap Fund	43,675,034	4.22	1765.56	42,694,472	2025-12-15 00:51:39	2.3%
HDFC Balanced Advantage Fund	41,476,926	1.55	1676.7	N/A	N/A	N/A
Nippon India Large Cap Fund	35,329,812	2.84	1428.21	35,050,240	2025-06-20 07:05:04	0.8%
SBI Contra Fund	31,014,741	2.52	1253.77	26,766,741	2025-12-08 03:14:31	15.87%
Mirae Asset Large & Midcap Fund	29,400,154	2.73	1188.5	N/A	N/A	N/A
ICICI Prudential Multi Asset Fund	29,304,664	1.58	1184.64	N/A	N/A	N/A
Kotak Multicap Fund	26,500,000	4.81	1071.26	N/A	N/A	N/A
ICICI Prudential Large Cap Fund	24,952,881	1.29	1008.72	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	1.00	1.00	1.00	1.00	1.00
Basic EPS (Rs.)	27.79	16.42	15.50	12.37	10.70
Diluted EPS (Rs.)	27.75	16.38	15.46	12.37	10.70
Cash EPS (Rs.)	29.24	18.05	17.09	13.97	12.22
Book Value[Excl.RevalReserv]/Share (Rs.)	55.96	59.99	55.95	50.98	49.31
Book Value[Incl.RevalReserv]/Share (Rs.)	55.96	59.99	55.95	50.98	49.31
Revenue From Operations / Share (Rs.)	60.19	56.77	57.08	49.23	40.03
PBDIT / Share (Rs.)	22.78	23.21	22.24	18.25	15.95
PBIT / Share (Rs.)	21.47	21.76	20.79	16.85	14.62
PBT / Share (Rs.)	21.43	21.72	20.81	16.82	14.58
Net Profit / Share (Rs.)	27.92	16.60	15.63	12.57	10.88
NP After MI And SOA / Share (Rs.)	27.77	16.39	15.44	12.37	10.69
PBDIT Margin (%)	37.84	40.88	38.97	37.07	39.85
PBIT Margin (%)	35.66	38.32	36.42	34.22	36.51
PBT Margin (%)	35.60	38.25	36.46	34.15	36.41
Net Profit Margin (%)	46.38	29.23	27.38	25.52	27.17
NP After MI And SOA Margin (%)	46.12	28.86	27.05	25.12	26.71
Return on Networth / Equity (%)	49.61	27.45	27.75	24.40	21.80
Return on Capital Employeed (%)	36.41	34.76	35.81	31.89	28.49
Return On Assets (%)	39.44	22.27	22.34	19.72	17.82
Asset Turnover Ratio (%)	0.83	0.79	0.82	0.75	0.61
Current Ratio (X)	3.06	3.00	2.89	2.81	3.27
Quick Ratio (X)	1.96	1.95	2.02	1.91	2.29
Inventory Turnover Ratio (X)	1.58	1.66	1.84	1.57	1.48
Dividend Payout Ratio (NP) (%)	23.40	41.00	38.81	42.44	46.74
Dividend Payout Ratio (CP) (%)	22.34	37.66	35.46	38.11	41.55
Earning Retention Ratio (%)	76.60	59.00	61.19	57.56	53.26
Cash Earning Retention Ratio (%)	77.66	62.34	64.54	61.89	58.45
Interest Coverage Ratio (X)	632.67	630.60	639.94	571.51	440.45
Interest Coverage Ratio (Post Tax) (X)	443.21	452.07	449.03	394.44	301.35
Enterprise Value (Cr.)	509274.61	528208.39	472093.81	304785.83	264644.53
EV / Net Operating Revenue (X)	6.76	7.45	6.66	5.02	5.37
EV / EBITDA (X)	17.86	18.23	17.08	13.55	13.48
MarketCap / Net Operating Revenue (X)	6.81	7.55	6.72	5.09	5.46
Retention Ratios (%)	76.59	58.99	61.18	57.55	53.25
Price / BV (X)	7.32	7.18	6.89	4.95	4.46
Price / Net Operating Revenue (X)	6.81	7.55	6.72	5.09	5.46
EarningsYield	0.06	0.03	0.04	0.04	0.04

After reviewing the key financial ratios for ITC Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 25, the value is 1.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 1.00.
For Basic EPS (Rs.), as of Mar 25, the value is 27.79. This value is within the healthy range. It has increased from 16.42 (Mar 24) to 27.79, marking an increase of 11.37.
For Diluted EPS (Rs.), as of Mar 25, the value is 27.75. This value is within the healthy range. It has increased from 16.38 (Mar 24) to 27.75, marking an increase of 11.37.
For Cash EPS (Rs.), as of Mar 25, the value is 29.24. This value is within the healthy range. It has increased from 18.05 (Mar 24) to 29.24, marking an increase of 11.19.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 55.96. It has decreased from 59.99 (Mar 24) to 55.96, marking a decrease of 4.03.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 55.96. It has decreased from 59.99 (Mar 24) to 55.96, marking a decrease of 4.03.
For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 60.19. It has increased from 56.77 (Mar 24) to 60.19, marking an increase of 3.42.
For PBDIT / Share (Rs.), as of Mar 25, the value is 22.78. This value is within the healthy range. It has decreased from 23.21 (Mar 24) to 22.78, marking a decrease of 0.43.
For PBIT / Share (Rs.), as of Mar 25, the value is 21.47. This value is within the healthy range. It has decreased from 21.76 (Mar 24) to 21.47, marking a decrease of 0.29.
For PBT / Share (Rs.), as of Mar 25, the value is 21.43. This value is within the healthy range. It has decreased from 21.72 (Mar 24) to 21.43, marking a decrease of 0.29.
For Net Profit / Share (Rs.), as of Mar 25, the value is 27.92. This value is within the healthy range. It has increased from 16.60 (Mar 24) to 27.92, marking an increase of 11.32.
For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 27.77. This value is within the healthy range. It has increased from 16.39 (Mar 24) to 27.77, marking an increase of 11.38.
For PBDIT Margin (%), as of Mar 25, the value is 37.84. This value is within the healthy range. It has decreased from 40.88 (Mar 24) to 37.84, marking a decrease of 3.04.
For PBIT Margin (%), as of Mar 25, the value is 35.66. This value exceeds the healthy maximum of 20. It has decreased from 38.32 (Mar 24) to 35.66, marking a decrease of 2.66.
For PBT Margin (%), as of Mar 25, the value is 35.60. This value is within the healthy range. It has decreased from 38.25 (Mar 24) to 35.60, marking a decrease of 2.65.
For Net Profit Margin (%), as of Mar 25, the value is 46.38. This value exceeds the healthy maximum of 10. It has increased from 29.23 (Mar 24) to 46.38, marking an increase of 17.15.
For NP After MI And SOA Margin (%), as of Mar 25, the value is 46.12. This value exceeds the healthy maximum of 20. It has increased from 28.86 (Mar 24) to 46.12, marking an increase of 17.26.
For Return on Networth / Equity (%), as of Mar 25, the value is 49.61. This value is within the healthy range. It has increased from 27.45 (Mar 24) to 49.61, marking an increase of 22.16.
For Return on Capital Employeed (%), as of Mar 25, the value is 36.41. This value is within the healthy range. It has increased from 34.76 (Mar 24) to 36.41, marking an increase of 1.65.
For Return On Assets (%), as of Mar 25, the value is 39.44. This value is within the healthy range. It has increased from 22.27 (Mar 24) to 39.44, marking an increase of 17.17.
For Asset Turnover Ratio (%), as of Mar 25, the value is 0.83. It has increased from 0.79 (Mar 24) to 0.83, marking an increase of 0.04.
For Current Ratio (X), as of Mar 25, the value is 3.06. This value exceeds the healthy maximum of 3. It has increased from 3.00 (Mar 24) to 3.06, marking an increase of 0.06.
For Quick Ratio (X), as of Mar 25, the value is 1.96. This value is within the healthy range. It has increased from 1.95 (Mar 24) to 1.96, marking an increase of 0.01.
For Inventory Turnover Ratio (X), as of Mar 25, the value is 1.58. This value is below the healthy minimum of 4. It has decreased from 1.66 (Mar 24) to 1.58, marking a decrease of 0.08.
For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 23.40. This value is within the healthy range. It has decreased from 41.00 (Mar 24) to 23.40, marking a decrease of 17.60.
For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 22.34. This value is within the healthy range. It has decreased from 37.66 (Mar 24) to 22.34, marking a decrease of 15.32.
For Earning Retention Ratio (%), as of Mar 25, the value is 76.60. This value exceeds the healthy maximum of 70. It has increased from 59.00 (Mar 24) to 76.60, marking an increase of 17.60.
For Cash Earning Retention Ratio (%), as of Mar 25, the value is 77.66. This value exceeds the healthy maximum of 70. It has increased from 62.34 (Mar 24) to 77.66, marking an increase of 15.32.
For Interest Coverage Ratio (X), as of Mar 25, the value is 632.67. This value is within the healthy range. It has increased from 630.60 (Mar 24) to 632.67, marking an increase of 2.07.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 443.21. This value is within the healthy range. It has decreased from 452.07 (Mar 24) to 443.21, marking a decrease of 8.86.
For Enterprise Value (Cr.), as of Mar 25, the value is 509,274.61. It has decreased from 528,208.39 (Mar 24) to 509,274.61, marking a decrease of 18,933.78.
For EV / Net Operating Revenue (X), as of Mar 25, the value is 6.76. This value exceeds the healthy maximum of 3. It has decreased from 7.45 (Mar 24) to 6.76, marking a decrease of 0.69.
For EV / EBITDA (X), as of Mar 25, the value is 17.86. This value exceeds the healthy maximum of 15. It has decreased from 18.23 (Mar 24) to 17.86, marking a decrease of 0.37.
For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 6.81. This value exceeds the healthy maximum of 3. It has decreased from 7.55 (Mar 24) to 6.81, marking a decrease of 0.74.
For Retention Ratios (%), as of Mar 25, the value is 76.59. This value exceeds the healthy maximum of 70. It has increased from 58.99 (Mar 24) to 76.59, marking an increase of 17.60.
For Price / BV (X), as of Mar 25, the value is 7.32. This value exceeds the healthy maximum of 3. It has increased from 7.18 (Mar 24) to 7.32, marking an increase of 0.14.
For Price / Net Operating Revenue (X), as of Mar 25, the value is 6.81. This value exceeds the healthy maximum of 3. It has decreased from 7.55 (Mar 24) to 6.81, marking a decrease of 0.74.
For EarningsYield, as of Mar 25, the value is 0.06. This value is below the healthy minimum of 5. It has increased from 0.03 (Mar 24) to 0.06, marking an increase of 0.03.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of ITC Ltd as of January 5, 2026 is: ₹279.73

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of January 5, 2026, ITC Ltd is Overvalued by 20.08% compared to the current share price ₹350.00

Intrinsic Value of ITC Ltd as of January 5, 2026 is: ₹329.33

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of January 5, 2026, ITC Ltd is Overvalued by 5.91% compared to the current share price ₹350.00

Last 5 Year EPS CAGR: 17.73%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 37.17%, which is a positive sign. The company has higher reserves (55,215.85 cr) compared to borrowings (211.08 cr), indicating strong financial stability. The company has shown consistent growth in sales (53.31 cr) and profit (21.85 cr) over the years.	The stock has a high average Working Capital Days of 30.50, which may not be favorable. The stock has a high average Cash Conversion Cycle of 143.17, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in ITC Ltd:
1. Net Profit Margin: 46.38%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 36.41% (Industry Average ROCE: 36.8%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 49.61% (Industry Average ROE: 27.3%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 443.21
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.96
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 21.7 (Industry average Stock P/E: 21.7)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

ITC Ltd. is a Public Limited Listed company incorporated on 24/08/1910 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L16005WB1910PLC001985 and registration number is 001985. Currently Company is involved in the business activities of Manufacture of cigarettes, cigarette tobacco. Company's Total Operating Revenue is Rs. 69323.52 Cr. and Equity Capital is Rs. 1251.41 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Cigarettes & Tobacco Products	Virginia House, 37, Jawaharlal Nehru Road, Kolkata West Bengal 700071	Contact not found

Management
Name	Position Held
Mr. Sanjiv Puri	Chairman & Managing Director
Mr. Hemant Malik	Executive Director
Mr. Sumant Bhargavan	Executive Director
Mr. Supratim Dutta	Executive Director & CFO
Mr. Ajit Kumar Seth	Non Executive Director
Mr. Shyamal Mukherjee	Non Executive Director
Mr. Sunil Panray	Non Executive Director
Mr. Anand Nayak	Non Executive Director
Ms. Nirupama Rao	Non Executive Director
Mr. Hemant Bhargava	Non Executive Director
Mr. Alka Marezban Bharucha	Non Executive Director
Mr. Atul Singh	Non Executive Director
Mr. Pushpa Subrahmanyam	Non Executive Director
Mr. Chandra Kishore Mishra	Non Executive Director
Mr. Siddhartha Mohanty	Non Executive Director
Mr. Alok Pande	Non Executive Director

FAQ

What is the intrinsic value of ITC Ltd?

ITC Ltd's intrinsic value (as of 05 January 2026) is ₹279.73 which is 20.08% lower the current market price of ₹350.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's ₹4,38,576 Cr. market cap, FY2025-2026 high/low of ₹472/345, reserves of ₹69,819 Cr, and liabilities of ₹90,803 Cr.

What is the Market Cap of ITC Ltd?

The Market Cap of ITC Ltd is 4,38,576 Cr..

What is the current Stock Price of ITC Ltd as on 05 January 2026?

The current stock price of ITC Ltd as on 05 January 2026 is ₹350.

What is the High / Low of ITC Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of ITC Ltd stocks is ₹472/345.

What is the Stock P/E of ITC Ltd?

The Stock P/E of ITC Ltd is 21.7.

What is the Book Value of ITC Ltd?

The Book Value of ITC Ltd is 56.7.

What is the Dividend Yield of ITC Ltd?

The Dividend Yield of ITC Ltd is 4.10 %.

What is the ROCE of ITC Ltd?

The ROCE of ITC Ltd is 36.8 %.

What is the ROE of ITC Ltd?

The ROE of ITC Ltd is 27.3 %.

What is the Face Value of ITC Ltd?

The Face Value of ITC Ltd is 1.00.