ITC

ITC Limited

Cigarettes, packaged foods, paperboards, agri-business and an IT arm under one conglomerate

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

itcportal.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹263.50
Market cap
3,29,873 Cr
Stock P/E
16.6
P/B
4.55
Dividend yield
5.5%
ROE (FY26)
28.4%
ROCE (FY26)
37.5%
Operating margin (FY26)
28.5%
Debt / equity (FY26)
0.03
OCF / EBITDA (FY26)
67.6%
OCF / EBITDA (3Y)
67.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

ITC sells cigarettes, branded foods and other consumer goods, paperboards, paper and packaging, and farm commodities, and also owns an information-technology services arm, ITC Infotech.

Company snapshot

2ndBy market cap

Ranked among 4 companies in Diversified FMCG.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 43.5% of revenue

SegmentRevenue shareRevenuePBTAssets
Agri Business
28.9%
16,105 Cr1,223 Cr—
FMCG - Cigarettes
43.5%
24,232 Cr14,907 Cr—
FMCG - Others
29.6%
16,487 Cr1,235 Cr—
Others
0.2%
115 Cr43 Cr—
Paperboards, Paper & Packaging
11.2%
6,235 Cr709 Cr—

Shares add up to 113% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Net margin of 23.4% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales19,270 Cr19,485 Cr19,446 Cr20,030 Cr22,282 Cr20,350 Cr20,376 Cr23,129 Cr21,256 Cr21,707 Cr23,821 Cr29,523 Cr
Operating expenses (approx.)12,816 Cr12,981 Cr12,820 Cr13,281 Cr15,520 Cr13,988 Cr13,857 Cr16,313 Cr14,561 Cr14,824 Cr16,897 Cr24,342 Cr
EBITDA6,454 Cr6,504 Cr6,626 Cr6,748 Cr6,762 Cr6,362 Cr6,519 Cr6,816 Cr6,695 Cr6,883 Cr6,924 Cr5,181 Cr
OPM %33.5%33.4%34.1%33.7%30.3%31.3%32.0%29.5%31.5%31.7%29.1%17.5%
Other income665 Cr657 Cr684 Cr695 Cr616 Cr596 Cr640 Cr682 Cr584 Cr574 Cr585 Cr656 Cr
Interest10 Cr14 Cr13 Cr11 Cr16 Cr10 Cr11 Cr16 Cr20 Cr19 Cr29 Cr40 Cr
Depreciation453 Cr459 Cr461 Cr499 Cr520 Cr416 Cr411 Cr423 Cr435 Cr431 Cr422 Cr428 Cr
Profit before tax6,665 Cr6,688 Cr6,837 Cr6,938 Cr6,848 Cr6,814 Cr21,981 Cr7,128 Cr6,979 Cr6,754 Cr7,173 Cr5,861 Cr
Tax %25.5%19.2%24.1%25.4%26.2%26.4%9.9%25.0%25.7%25.7%23.7%23.1%
Net profit4,965 Cr5,407 Cr5,191 Cr5,177 Cr5,054 Cr5,013 Cr19,808 Cr5,343 Cr5,187 Cr5,018 Cr5,470 Cr4,509 Cr
EPS (₹)₹3.93₹4.28₹4.10₹4.08₹3.99₹3.95₹15.77₹4.19₹4.09₹3.94₹4.30₹3.51

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales58,705 Cr47,689 Cr49,862 Cr51,393 Cr53,155 Cr65,205 Cr76,518 Cr76,840 Cr81,613 Cr89,913 CrSign in free for the trailing twelve months
Operating expenses (approx.)43,269 Cr31,206 Cr31,456 Cr32,133 Cr36,152 Cr44,547 Cr50,853 Cr50,586 Cr55,635 Cr62,595 CrSign in free for the trailing twelve months
EBITDA15,436 Cr16,483 Cr18,406 Cr19,260 Cr17,003 Cr20,658 Cr25,665 Cr26,254 Cr25,978 Cr27,318 CrSign in free for the trailing twelve months
OPM %26.3%34.6%36.9%37.5%32.0%31.7%33.5%34.2%31.8%30.4%Sign in free for the trailing twelve months
Other income1,762 Cr1,832 Cr2,174 Cr2,598 Cr2,633 Cr1,836 Cr1,980 Cr2,728 Cr2,530 Cr2,426 CrSign in free for the trailing twelve months
Interest24 Cr90 Cr45 Cr55 Cr45 Cr39 Cr43 Cr46 Cr45 Cr85 CrSign in free for the trailing twelve months
Depreciation1,153 Cr1,236 Cr1,397 Cr1,645 Cr1,646 Cr1,732 Cr1,809 Cr1,816 Cr1,646 Cr1,711 CrSign in free for the trailing twelve months
Profit before tax16,026 Cr17,409 Cr19,150 Cr20,035 Cr17,938 Cr20,740 Cr25,915 Cr27,140 Cr42,582 Cr28,033 CrSign in free for the trailing twelve months
Tax %34.6%34.0%33.0%22.2%25.4%25.3%24.8%23.5%17.7%25.0%Sign in free for the trailing twelve months
Net profit10,477 Cr11,493 Cr12,836 Cr15,593 Cr13,383 Cr15,503 Cr19,477 Cr20,751 Cr35,052 Cr21,018 CrSign in free for the trailing twelve months
EPS (₹)₹8.50₹9.26₹10.30₹12.47₹10.70₹12.37₹15.50₹16.42₹27.79₹16.52Sign in free for the trailing twelve months
Dividend payout %————141.0%88.9%79.2%95.9%50.7%86.9%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital1,215 Cr1,220 Cr1,226 Cr1,229 Cr1,231 Cr1,232 Cr1,243 Cr1,248 Cr1,251 Cr1,253 Cr
Reserves45,198 Cr51,290 Cr57,915 Cr64,044 Cr59,116 Cr61,223 Cr67,912 Cr73,259 Cr68,779 Cr71,254 Cr
Borrowings38 Cr29 Cr10 Cr7 Cr9 Cr6 Cr39 Cr11 Cr285 Cr2,186 Cr
Other liabilities9,198 Cr11,415 Cr12,304 Cr11,709 Cr13,116 Cr14,432 Cr16,305 Cr16,925 Cr17,408 Cr18,733 Cr
Total liabilities55,943 Cr64,289 Cr71,798 Cr77,367 Cr73,819 Cr77,260 Cr85,883 Cr91,826 Cr88,091 Cr93,792 Cr
Fixed assets (net)15,262 Cr15,864 Cr18,626 Cr19,633 Cr19,154 Cr20,207 Cr21,117 Cr23,082 Cr17,429 Cr17,471 Cr
CWIP3,684 Cr5,500 Cr4,126 Cr3,252 Cr4,004 Cr3,198 Cr2,985 Cr2,851 Cr1,088 Cr1,499 Cr
Investments17,581 Cr22,053 Cr25,043 Cr29,049 Cr25,247 Cr25,205 Cr29,767 Cr31,455 Cr35,042 Cr38,432 Cr
Loans & advances——7 Cr6 Cr3 Cr7 Cr7 Cr10 Cr10 Cr9 Cr
Inventories8,116 Cr7,495 Cr7,860 Cr8,879 Cr10,397 Cr10,864 Cr11,771 Cr14,153 Cr15,638 Cr18,623 Cr
Trade receivables2,474 Cr2,682 Cr4,035 Cr2,562 Cr2,502 Cr2,462 Cr2,956 Cr4,026 Cr4,720 Cr3,923 Cr
Cash & bank333 Cr153 Cr318 Cr650 Cr290 Cr271 Cr463 Cr626 Cr620 Cr643 Cr
Other assets8,492 Cr10,542 Cr11,784 Cr13,335 Cr12,221 Cr15,044 Cr16,816 Cr15,623 Cr13,545 Cr13,192 Cr
Total assets55,943 Cr64,289 Cr71,798 Cr77,367 Cr73,819 Cr77,260 Cr85,883 Cr91,826 Cr88,091 Cr93,792 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity10,627 Cr13,169 Cr12,583 Cr14,690 Cr12,527 Cr15,776 Cr18,878 Cr17,179 Cr17,627 Cr18,464 Cr
Cash from investing-3,251 Cr-7,114 Cr-5,546 Cr-6,174 Cr5,683 Cr-2,238 Cr-5,732 Cr1,563 Cr-396 Cr-2,321 Cr
Cash from financing-7,301 Cr-6,221 Cr-6,869 Cr-8,181 Cr-18,634 Cr-13,580 Cr-13,006 Cr-18,551 Cr-17,037 Cr-16,147 Cr
Net cash flow75 Cr-166 Cr169 Cr334 Cr-424 Cr-43 Cr139 Cr191 Cr191 Cr-4 Cr
Free cash flow (OCF − Capex)7,506 Cr10,291 Cr9,414 Cr12,249 Cr10,690 Cr13,634 Cr16,135 Cr13,616 Cr15,348 Cr16,281 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %34.3%33.1%32.3%30.6%29.6%33.1%37.3%36.3%60.3%37.5%
ROE %22.0%21.7%21.2%23.3%21.7%24.3%27.6%27.3%49.4%28.4%
Debtor days15202918171414192116
Inventory days247228213235271241211237240258
Days payable8110795961139884807478
Cash conversion cycle181142148157176157142176187196
OCF / EBITDA %68.8%79.9%68.4%76.3%73.7%76.4%73.6%65.4%67.9%67.6%
OCF / EBITDA % (3 years)——72.3%74.7%72.8%75.5%74.5%71.4%68.9%67.0%
Debt / equity0.00080.00050.00020.00010.00020.00010.00060.00020.00410.03
Current ratio3.692.853.174.133.272.812.893.003.063.04
Net debt / EBITDA-0.02—-0.02-0.03-0.02-0.01-0.02-0.02-0.010.06