ITC Ltd (ITC) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: 87/100 (Exceptional)

Business Quality 99/100

ROE (Return on Equity): 29.3%

ROCE (Return on Capital): 38.9%

Explain Methodology →

Financial Health 99/100

Debt to Equity: 0.03x

Solvency Runway: High (Interest Coverage > 8x)

Explain Methodology →

Growth Trajectory 31/100

Annual Revenue Growth: 6.5% YoY

Net Profit Growth: 7.8% YoY

Explain Methodology →

Profitability & Margins 99/100

Operating Margin (OPM): 34.0%

Net Profit Margin: 27.2%

Explain Methodology →

Cash Flow Quality 95/100

Free Cash Flow (FCF): Cash Accretive

CFO to EBITDA Conversion: > 75% Conversion Rate

Explain Methodology →

Valuation Attractiveness 90/100

Stock P/E Multiple: 16.2x

Price to Book (P/B): 4.4x

Explain Methodology →

Price & Trend Momentum 75/100

14-Day RSI: 59.8 (Neutral/Bullish)

DMA Alignment: Trading Above 50 & 200 DMA

Explain Methodology →

Governance & Risk 85/100

Promoter Pledge: 0.0% (Clean)

Statutory Auditor Opinion: Unqualified / Clean Pass

Explain Methodology →

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+2.22%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 34.2%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 29.3%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹275.03

200-Day DMA ● Overlay

₹255.08

14-Day RSI ● Overlay

59.8 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹3.21 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

16.2x

Price / EPS

Book Value (₹) Assets

₹57.9

P/B: 4.4x

ROE (%) Quality

29.3%

Net Profit / Equity

ROCE (%) Efficiency

38.9%

EBIT / Capital

Dividend Yield Yield

5.67%

Face Value: ₹10

Debt / Equity Solvency

0.03x

Low Debt

EPS (TTM) Per Share

₹15.80

Trailing 12M

OPM (%) Spread

34.0%

EBITDA Margin

Free Cash Flow Cash

₹16,332 Cr

CFO - Capex

About ITC Ltd

Website →

ITC Limited is one of India’s foremost private sector companies with businesses in FMCG, Hotels, Paperboards & Packaging, Agri Business, and Information Technology.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 24.5% × Turnover: 0.85x × Leverage: 1.03x = ROE: 29.3%

✓ Company Strengths (Pros)

• Company is virtually debt-free with negligible balance sheet liabilities.
• Company has a stellar track record of return on equity (ROE of 29.3%).

⚠ Key Considerations & Risks (Cons)

• Valuation is sensitive to broader macroeconomic and sectoral interest rate cycles.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹76,488 Cr

Latest PAT

₹20,184 Cr

EPS (TTM)

₹15.80

OPM %

34.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹17,164 Cr	₹17,774 Cr	₹17,195 Cr	₹17,038 Cr	₹17,778 Cr	₹19,990 Cr	₹18,790 Cr	₹18,765 Cr	₹21,495 Cr	₹19,502 Cr	₹20,047 Cr	₹17,825 Cr	₹19,114 Cr
Operating Profit (EBITDA)	₹6,670 Cr	₹6,454 Cr	₹6,210 Cr	₹6,302 Cr	₹6,545 Cr	₹6,552 Cr	₹6,362 Cr	₹6,519 Cr	₹6,816 Cr	₹6,695 Cr	₹6,883 Cr	₹6,924 Cr	₹5,181 Cr
OPM %	39.0%	36.0%	36.0%	37.0%	37.0%	33.0%	34.0%	35.0%	32.0%	34.0%	34.0%	39.0%	27.0%
Interest Expense	₹10.00 Cr	₹10.00 Cr	₹12.00 Cr	₹11.00 Cr	₹10.00 Cr	₹15.00 Cr	₹10.00 Cr	₹11.00 Cr	₹16.00 Cr	₹20.00 Cr	₹19.00 Cr	₹29.00 Cr	₹40.00 Cr
Depreciation	₹442.00 Cr	₹453.00 Cr	₹384.00 Cr	₹385.00 Cr	₹403.00 Cr	₹416.00 Cr	₹416.00 Cr	₹411.00 Cr	₹423.00 Cr	₹435.00 Cr	₹431.00 Cr	₹422.00 Cr	₹428.00 Cr
Profit before Tax (PBT)	₹6,940 Cr	₹6,665 Cr	₹6,635 Cr	₹6,774 Cr	₹6,903 Cr	₹6,811 Cr	₹6,740 Cr	₹21,489 Cr	₹7,128 Cr	₹6,979 Cr	₹6,754 Cr	₹7,173 Cr	₹5,861 Cr
Net Profit (PAT)	₹5,190 Cr	₹4,965 Cr	₹5,407 Cr	₹5,191 Cr	₹5,177 Cr	₹5,054 Cr	₹5,013 Cr	₹19,808 Cr	₹5,343 Cr	₹5,187 Cr	₹5,018 Cr	₹5,470 Cr	₹4,509 Cr
EPS in ₹	₹4.10	₹3.93	₹4.28	₹4.10	₹4.08	₹3.99	₹3.94	₹15.76	₹4.19	₹4.09	₹3.94	₹4.30	₹3.51

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹38,817 Cr	₹39,192 Cr	₹42,768 Cr	₹43,449 Cr	₹48,340 Cr	₹49,388 Cr	₹49,257 Cr	₹60,645 Cr	₹70,919 Cr	₹67,932 Cr	₹75,323 Cr	₹78,868 Cr	₹76,488 Cr
Expenses	₹24,566 Cr	₹24,661 Cr	₹27,298 Cr	₹26,928 Cr	₹29,802 Cr	₹30,044 Cr	₹32,193 Cr	₹40,021 Cr	₹45,215 Cr	₹42,744 Cr	₹49,492 Cr	₹51,562 Cr	₹50,806 Cr
Operating Profit	₹14,252 Cr	₹14,531 Cr	₹15,470 Cr	₹16,521 Cr	₹18,537 Cr	₹19,344 Cr	₹17,065 Cr	₹20,623 Cr	₹25,704 Cr	₹25,188 Cr	₹25,832 Cr	₹27,306 Cr	₹25,682 Cr
OPM %	37%	37%	36%	38%	38%	39%	35%	34%	36%	37%	34%	35%	34%
Interest	₹91.00 Cr	₹78.00 Cr	₹49.00 Cr	₹115.00 Cr	₹71.00 Cr	₹81.00 Cr	₹58.00 Cr	₹60.00 Cr	₹78.00 Cr	₹39.00 Cr	₹45.00 Cr	₹85.00 Cr	₹108.00 Cr
Depreciation	₹1,028 Cr	₹1,077 Cr	₹1,153 Cr	₹1,236 Cr	₹1,397 Cr	₹1,645 Cr	₹1,646 Cr	₹1,732 Cr	₹1,809 Cr	₹1,518 Cr	₹1,646 Cr	₹1,711 Cr	₹1,715 Cr
Profit before Tax	₹14,362 Cr	₹14,859 Cr	₹16,026 Cr	₹17,409 Cr	₹19,150 Cr	₹20,035 Cr	₹17,938 Cr	₹20,740 Cr	₹25,915 Cr	₹26,961 Cr	₹41,943 Cr	₹28,033 Cr	₹26,766 Cr
Net Profit	₹9,779 Cr	₹9,501 Cr	₹10,477 Cr	₹11,493 Cr	₹12,836 Cr	₹15,593 Cr	₹13,383 Cr	₹15,503 Cr	₹19,477 Cr	₹20,751 Cr	₹35,052 Cr	₹21,018 Cr	₹20,184 Cr
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	15.84

Balance Sheet (₹ Cr)	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	₹802.00 Cr	₹805.00 Cr	₹1,215 Cr	₹1,220 Cr	₹1,226 Cr	₹1,229 Cr	₹1,231 Cr	₹1,232 Cr	₹1,243 Cr	₹1,248 Cr	₹1,251 Cr	₹1,253 Cr
Reserves & Surplus	₹30,934 Cr	₹41,875 Cr	₹45,198 Cr	₹51,290 Cr	₹57,915 Cr	₹64,044 Cr	₹59,116 Cr	₹61,223 Cr	₹67,912 Cr	₹73,259 Cr	₹68,779 Cr	₹71,254 Cr
Borrowings (Debt)	₹269.00 Cr	₹84.00 Cr	₹46.00 Cr	₹36.00 Cr	₹13.00 Cr	₹277.00 Cr	₹271.00 Cr	₹249.00 Cr	₹306.00 Cr	₹303.00 Cr	₹285.00 Cr	₹2,399 Cr
Total Liabilities	₹45,952 Cr	₹51,651 Cr	₹55,898 Cr	₹64,241 Cr	₹71,739 Cr	₹77,311 Cr	₹73,761 Cr	₹77,196 Cr	₹85,831 Cr	₹91,754 Cr	₹88,003 Cr	₹93,637 Cr
Fixed Assets	₹15,303 Cr	₹15,107 Cr	₹15,893 Cr	₹16,524 Cr	₹19,374 Cr	₹21,713 Cr	₹23,298 Cr	₹24,232 Cr	₹25,851 Cr	₹27,820 Cr	₹21,955 Cr	₹22,443 Cr
Total Assets	₹45,952 Cr	₹51,651 Cr	₹55,898 Cr	₹64,241 Cr	₹71,739 Cr	₹77,311 Cr	₹73,761 Cr	₹77,196 Cr	₹85,831 Cr	₹91,754 Cr	₹88,003 Cr	₹93,637 Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹9,843 Cr	₹9,799 Cr	₹10,627 Cr	₹13,169 Cr	₹12,583 Cr	₹14,690 Cr	₹12,527 Cr	₹15,776 Cr	₹18,878 Cr	₹17,179 Cr	₹17,627 Cr	₹18,464 Cr
Cash from Investing (CFI)	-₹5,275 Cr	-₹3,921 Cr	-₹3,251 Cr	-₹7,114 Cr	-₹5,546 Cr	-₹6,174 Cr	₹5,740 Cr	-₹2,238 Cr	-₹5,732 Cr	₹1,563 Cr	-₹564.00 Cr	-₹2,321 Cr
Cash from Financing (CFF)	-₹4,661 Cr	-₹5,613 Cr	-₹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
Free Cash Flow (FCF)	₹6,552 Cr	₹7,459 Cr	₹7,556 Cr	₹10,371 Cr	₹9,442 Cr	₹12,276 Cr	₹10,693 Cr	₹13,767 Cr	₹16,184 Cr	₹13,724 Cr	₹15,524 Cr	₹16,332 Cr

Efficiency Ratios	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 (DSO)	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
Cash Conversion Cycle (Days)	181	199	145	115	122	129	129	104	105	148	146	164
ROCE %	47%	40%	36%	34%	34%	32%	28%	33%	39%	36%	37%	39%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹241.31 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹285.00

DCF Fair Value

₹241.31

Graham Number

₹143.47

Margin of Safety

-30.8%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹241.31

Premium / Overvalued (Margin: -30.8%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹235	₹233	₹231	₹229
10%	₹239	₹237	₹235	₹233
12%	₹244	₹241	₹239	₹237
14%	₹248	₹246	₹243	₹241

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹241	Fairly Valued
Benjamin Graham Number	₹143	Market Priced
Historical Sector P/E	₹348	Discounted
EV / EBITDA Multiplier	₹299	In-Line
Free Cash Flow Yield Model	₹279	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 9/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

9 / 9 Pass

Altman Z-Score

6.31 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.03x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 34.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

0.00%

FIIs (Foreign)

34.23%

DIIs (Domestic)

49.13%

Government

0.15%

Public / Retail

16.61%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
+ FIIs (Foreign Portfolio)	43.34%	43.26%	40.95%	40.47%	40.53%	40.17%	39.87%	37.98%	37.39%	36.11%	34.83%	34.23%
+ DIIs (Mutual Funds / Insurance)	41.94%	41.98%	43.76%	44.02%	44.59%	44.91%	45.19%	46.91%	47.41%	48.90%	49.15%	49.13%
+ Public (Retail & HNIs)	14.68%	14.71%	15.23%	15.47%	14.83%	14.88%	14.90%	15.07%	15.16%	14.95%	15.96%	16.61%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Fast Moving Consumer Goods.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

ITC Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

ITC Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

ITC Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹364.80

Accelerated market share capture in Fast Moving Consumer Goods, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹319.20

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 16x P/E.

🐻 Bear Case (15%) -12.0%

₹250.80

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Fast Moving Consumer Goods)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:18 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ ITC Ltd (ITC)	Target Stock	₹285.00	+2.22%	16.2x	29.3%	38.9%	0.03	₹3.21 Lakh Cr
Hindustan Unilever Ltd (HINDUNILVR)	Household & Personal Care	₹2,022.40	+1.61%	38.2x	31.0%	28.4%	0.03	₹4.31 Lakh Cr
Nestle India Ltd (NESTLEIND)	Packaged Foods & Nutrition	₹1,288.00	-0.76%	68.3x	74.2%	85.3%	0.09	₹2.53 Lakh Cr
Varun Beverages Ltd (VBL)	Sector Peer	₹433.65	-0.31%	44.0x	16.2%	19.7%	0.13	₹1.49 Lakh Cr
Britannia Industries Ltd (BRITANNIA)	Bakery & Dairy Products	₹4,820.00	+0.63%	44.2x	53.5%	56.0%	0.27	₹1.15 Lakh Cr
Marico Ltd (MARICO)	Sector Peer	₹925.00	+2.55%	54.2x	42.8%	47.0%	0.13	₹1.02 Lakh Cr
United Spirits Ltd (UNITEDSPR)	Sector Peer	₹1,335.10	-1.40%	52.6x	21.4%	26.4%	0.05	₹97,396 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:18:43 IST	✓ Live Sync
Financial Statements (10Y)	ITC Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

ITC Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About ITC Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Fast Moving Consumer Goods)

Metric Explainer

Stock DNA Methodology

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