ITI

ITI Limited

Telecom equipment and total solutions provider in switching, transmission and access

Telecommunication›Telecommunication›Telecom - Equipment & Accessories›Telecom - Equipment & Accessories

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

Price as of 2026-10-19

Stock price
₹238.01
Market cap
22,917 Cr
Stock P/E
87.1
P/B
12.01
ROE (FY26)
15.4%
ROCE (FY26)
18.3%
Operating margin (FY26)
-0.6%
Debt / equity (FY26)
0.40

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

ITI (ITI Limited) is a Government of India undertaking that makes telecom equipment and runs turnkey telecom network projects, with most of its revenue coming from government and public sector customers.

Company snapshot

2ndBy market cap

Ranked among 9 companies in Telecom - Equipment & Accessories.

What we see

Concerns
  • ✗Operating cash flow is negative even though the company shows a profit — the business may not be generating real cash yet.
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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
Sales246 Cr259 Cr601 Cr520 Cr1,016 Cr1,035 Cr1,046 Cr498 Cr543 Cr515 Cr628 Cr425 Cr
Operating expenses (approx.)299 Cr302 Cr775 Cr533 Cr1,025 Cr1,045 Cr1,074 Cr505 Cr545 Cr489 Cr739 Cr423 Cr
EBITDA-53 Cr-43 Cr-174 Cr-13 Cr-9 Cr-11 Cr-28 Cr-7 Cr-1 Cr25 Cr-111 Cr2 Cr
OPM %-21.4%-16.8%-28.9%-2.4%-0.8%-1.0%-2.7%-1.5%-0.2%4.9%-17.7%0.4%
Other income10 Cr13 Cr9 Cr15 Cr15 Cr20 Cr35 Cr13 Cr15 Cr12 Cr13 Cr8 Cr
Interest69 Cr57 Cr60 Cr53 Cr62 Cr64 Cr45 Cr51 Cr53 Cr48 Cr81 Cr30 Cr
Depreciation13 Cr14 Cr14 Cr14 Cr14 Cr13 Cr29 Cr15 Cr13 Cr11 Cr-95 Cr13 Cr
Profit before tax-126 Cr-101 Cr-239 Cr-91 Cr-70 Cr-49 Cr-4 Cr-64 Cr-54 Cr-25 Cr375 Cr-32 Cr
Tax %0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Net profit-126 Cr-101 Cr-239 Cr-91 Cr-70 Cr-49 Cr-4 Cr-64 Cr-54 Cr-25 Cr375 Cr-32 Cr
EPS (₹)₹-1.32₹-1.05₹-2.49₹-0.95₹-0.73₹-0.51₹-0.05₹-0.66₹-0.57₹-0.26₹3.90₹-0.33

Profit & loss (annual)

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,548 Cr1,475 Cr1,668 Cr2,059 Cr2,362 Cr1,861 Cr1,395 Cr1,264 Cr3,616 Cr2,184 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,653 Cr1,394 Cr1,769 Cr1,909 Cr2,311 Cr1,752 Cr1,549 Cr1,583 Cr3,676 Cr2,140 CrSign in free for the trailing twelve months
EBITDA-105 Cr81 Cr-100 Cr150 Cr51 Cr109 Cr-154 Cr-319 Cr-60 Cr44 CrSign in free for the trailing twelve months
OPM %-6.8%5.5%-6.0%7.3%2.2%5.8%-11.0%-25.2%-1.7%2.0%Sign in free for the trailing twelve months
Other income541 Cr327 Cr336 Cr184 Cr161 Cr255 Cr53 Cr45 Cr85 Cr53 CrSign in free for the trailing twelve months
Interest153 Cr153 Cr106 Cr141 Cr160 Cr192 Cr210 Cr241 Cr224 Cr197 CrSign in free for the trailing twelve months
Depreciation17 Cr25 Cr37 Cr42 Cr42 Cr50 Cr49 Cr53 Cr69 Cr56 CrSign in free for the trailing twelve months
Profit before tax266 Cr231 Cr93 Cr151 Cr9 Cr121 Cr-360 Cr-569 Cr-215 Cr293 CrSign in free for the trailing twelve months
Tax %0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Net profit266 Cr231 Cr93 Cr151 Cr9 Cr120 Cr-360 Cr-569 Cr-215 Cr293 CrSign in free for the trailing twelve months
EPS (₹)₹6.72₹3.18₹0.97₹1.59₹0.10₹1.28₹-3.81₹-5.93₹-2.24₹3.04Sign in free for the trailing twelve months
Dividend payout %————0.0%0.0%———0.0%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 capital560 Cr760 Cr897 Cr925 Cr934 Cr934 Cr950 Cr961 Cr961 Cr963 Cr
Reserves499 Cr868 Cr936 Cr1,444 Cr1,522 Cr1,687 Cr1,425 Cr823 Cr664 Cr943 Cr
Borrowings1,179 Cr1,226 Cr1,259 Cr1,216 Cr1,464 Cr1,612 Cr1,876 Cr1,795 Cr1,481 Cr765 Cr
Other liabilities3,274 Cr4,153 Cr3,907 Cr4,138 Cr4,991 Cr5,344 Cr5,241 Cr6,018 Cr7,297 Cr6,676 Cr
Total liabilities5,513 Cr7,008 Cr6,998 Cr7,723 Cr8,911 Cr9,577 Cr9,491 Cr9,598 Cr10,402 Cr9,347 Cr
Fixed assets (net)2,479 Cr2,584 Cr2,627 Cr2,625 Cr2,633 Cr2,658 Cr2,684 Cr2,664 Cr2,522 Cr2,119 Cr
CWIP102 Cr149 Cr165 Cr189 Cr169 Cr154 Cr139 Cr142 Cr19 Cr16 Cr
Investments0.41 Cr0.41 Cr107 Cr105 Cr104 Cr103 Cr103 Cr103 Cr241 Cr305 Cr
Loans & advances——471 Cr573 Cr558 Cr753 Cr733 Cr800 Cr463 Cr420 Cr
Inventories142 Cr156 Cr149 Cr173 Cr194 Cr193 Cr250 Cr222 Cr231 Cr206 Cr
Trade receivables2,196 Cr3,080 Cr2,657 Cr2,761 Cr2,552 Cr2,730 Cr2,429 Cr2,441 Cr3,991 Cr2,906 Cr
Cash & bank24 Cr41 Cr27 Cr40 Cr28 Cr16 Cr9 Cr105 Cr149 Cr24 Cr
Other assets570 Cr997 Cr796 Cr1,256 Cr2,674 Cr2,969 Cr3,144 Cr3,121 Cr2,787 Cr3,352 Cr
Total assets5,513 Cr7,008 Cr6,998 Cr7,723 Cr8,911 Cr9,577 Cr9,491 Cr9,598 Cr10,402 Cr9,347 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 activity-347 Cr-109 Cr24 Cr-199 Cr95 Cr-432 Cr-294 Cr974 Cr-135 Cr-135 Cr
Cash from investing-75 Cr-96 Cr-126 Cr-45 Cr-303 Cr178 Cr46 Cr-556 Cr651 Cr924 Cr
Cash from financing468 Cr364 Cr-19 Cr285 Cr196 Cr241 Cr241 Cr-322 Cr-485 Cr-913 Cr
Net cash flow45 Cr158 Cr-121 Cr42 Cr-12 Cr-12 Cr-6 Cr96 Cr30 Cr-124 Cr
Free cash flow (OCF − Capex)-424 Cr-299 Cr-104 Cr-263 Cr65 Cr-492 Cr-294 Cr974 Cr-151 Cr-140 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %18.7%13.5%6.4%8.1%4.3%7.4%-3.5%-9.1%0.3%18.3%
ROE %25.1%14.2%5.0%6.4%0.4%4.6%-15.2%-31.9%-13.2%15.4%
Debtor days516760580489393534634705402484
Inventory days55968515343849710179690
Days payable777098161566362092053270911139693
Cash conversion cycle-6694-15315-120-184-30119897-633-8519
OCF / EBITDA %—-134.5%—-132.7%n.m.-397.4%———n.m.
OCF / EBITDA % (3 years)———n.m.n.m.-172.9%n.m.———
Debt / equity1.110.750.690.510.600.620.791.010.910.40
Current ratio0.730.870.890.920.950.990.970.890.880.90
Net debt / EBITDA—0.00—7.8528.0214.69———16.98