ITC · NSE
ITC Limited
₹262.3
-1.47% (-₹3.9)
Prev. close
₹266.2
Volume
1,43,99,150
Delivery %
66.1%
As of
18 Sept 2026
Price history
Angel One Analysis · Angel One · 19 Sept 2026
“Maintains a BUY rating on ITC with an unchanged target price of ₹440 per share, implying a potential upside of 68% from its previous close of ₹262.20. The brokerage is bullish on ITC, believing recent weakness creates an opportunity as cigarette price increases flow through profitability, offsetting volume declines. Support is also expected from FMCG, paperboards, packaging, agri, and technology businesses. They expect cigarette net realisation per stick to reach neutrality by Q4FY27 and EBIT margins to improve.”
Analyst sentiment
Analysts lean bullish
11 analyst stances · last 90 days · one per analyst
Trackable
7 · 6 bull / 1 neutral / 0 bear
Long-Horizon
none in window
Commentary
4 · 3 bull / 1 neutral / 0 bear
Trackable = verdict-bearing calls · Long-Horizon = 1yr+ horizon, verdict pending · Commentary = context, not graded
Analyst opinions
| Call | Analyst | Instrument | Verdict | Actions | |||
|---|---|---|---|---|---|---|---|
| “Maintains a BUY rating on ITC with an unchanged target price of ₹440 per share, implying a potential upside of 68% from …” | Angel One AnalysisAngel One | ITC | PENDING | ||||
“Maintains a BUY rating on ITC with an unchanged target price of ₹440 per share, implying a potential upside of 68% from its previous close of ₹262.20. The brokerage is bullish on ITC, believing recent weakness creates an opportunity as cigarette price increases flow through profitability, offsetting volume declines. Support is also expected from FMCG, paperboards, packaging, agri, and technology businesses. They expect cigarette net realisation per stick to reach neutrality by Q4FY27 and EBIT margins to improve.” This call hasn't reached its evaluation window yet — the verdict will appear here once it's graded. | |||||||
| “Bullish on ITC shares, advising fresh investors to buy above ₹268 for a short-term target of ₹290, maintaining a strict …” | Mahesh M OjhaKantilal Chaganlal Securities | ITC | PENDING | ||||
| “Bullish on ITC, believing its tobacco business is undervalued by the market at 11X forward earnings. Kotak assigns a 12-…” | Kotak Institutional Equities AnalysisKotak Institutional Equities | ITC | PENDING | ||||
| “Upgraded ITC to 'buy' from 'hold' on August 3, setting a price target of ₹350 per share, implying a 31% upside from its …” | Jefferies AnalysisJefferies | ITC | PENDING | ||||
| “Upgraded ITC to 'Buy' from 'Reduce' with a target price of ₹340, implying a 21% upside. The worst of the tax-led disrupt…” | Nomura AnalysisNomura Global Markets Research | ITC | PENDING | ||||
| “Maintains an 'Add' rating on ITC but lowers the target price to ₹320 (from ₹325), cutting FY27E EPS by 7% due to a highe…” | JM Financial AnalysisJM Financial Institutional Securities | ITC | PENDING | ||||
| “Maintains a 'Neutral' rating on ITC with a target price of ₹300, implying 18x FY28E EPS. The brokerage notes that the im…” | Motilal Oswal AnalysisMotilal Oswal Financial Services | ITC | NOT GRADED | ||||
| “Upgraded ITC to 'Buy' with a target price of ₹340, believing the worst is over and risk-reward is favorable. Cigarette v…” | Nomura AnalysisNomura Global Markets Research | ITC | PENDING | ||||
| “Maintained 'Outperform' on ITC with a target price of ₹388. Despite a 6% volume drop and 35% EBIT decline in cigarettes,…” | CLSA AnalysisCLSA | ITC | PENDING | ||||
| “Retained 'Buy' on ITC with a target price of ₹360, despite trimming FY27 earnings estimates by 5%. Believes ITC has larg…” | Kotak Institutional Equities AnalysisKotak Institutional Equities | ITC | PENDING | ||||
| “Nomura upgraded ITC to Buy from Reduce, raising its target price to ₹340 from ₹300, implying a 21% potential upside. The…” | Nomura AnalysisNomura Global Markets Research | ITC | PENDING | ||||
Market commentary · 5 · levels, conditionals, previews, macro & hedged views — context, not graded
| Call | Analyst | Instrument | Verdict | Actions |
|---|---|---|---|---|
| “Bullish on ITC shares, expecting around 10% more upside in the short-term once the stock decisively breaks above the ₹26…” | Anuj GuptaIndependent | ITC | PENDING | |
| “Neutral on ITC with a 12-month SOTP valuation of ₹360. While the market currently undervalues the tobacco business (impl…” | Kotak Institutional Equities AnalysisKotak Institutional Equities | ITC | PENDING | |
| “Motilal Oswal retained a Neutral rating on ITC with a target price of ₹300, indicating a 7% upside. The brokerage cut it…” | Motilal Oswal AnalysisMotilal Oswal Financial Services | ITC | PENDING | |
| “Bullish on ITC Hotels with a target price of ₹220, indicating a 23% upside from the CMP of ₹179. Nearly 15% of its owned…” | ICICI Securities AnalysisICICI Securities | ITC | NOT GRADED | |
| “Bajaj Broking is bullish on ITC, designating it a 'High Conviction MTF Pick' with a 6-month target of ₹330. The brokerag…” | Bajaj Broking AnalysisBajaj Broking Research | ITC | PENDING |
Fundamentals
About ITC Limited
ITC Limited engages in the fast-moving consumer goods, paperboards, paper and packaging, and agri businesses in India and internationally. The company offers cigarettes and cigars; foods, including staples, spices, biscuits, confectionery and gums, snacks, noodles and pasta, beverages, dairy products, ready-to-eat meals, chocolates, coffee, and frozen foods; personal care products; education and stationery, such as balls, gels and roller pens, mechanical pencils, geometry boxes, erasers, sharpeners and rulers, wax crayons, plastic crayons, and sketch pens and oil pastels; safety matches; and agarbattis and dhoops under various brands, as well as operates a hotel under the ITC Grand Central name in Mumbai. It also provides virgin, recycled, coated barrier, cupstock base, liner, liquid packaging, antifungal, solid, and graphic boards, as well as specialty papers; surfacing, print base, barrier, overlay, and liner papers; plastic substitution products; and packaging products, including cartons, flexible, tobacco, and green packaging products. In addition, the company exports feed ingredients, food grains, marine products, processed fruits, coffee products, leaf tobacco products, and spices; and offers information technology services for the banking and financial services, healthcare, manufacturing, consumer goods, travel, and hospitality industries, as well as produces and commercializes seed potato technology products. Further, it provides property infrastructure maintenance; engineering, procurement and construction management and project management consultancy services; business consulting; and agro-forestry and other related services, as well as engages in the fabrication and assembly of machinery for tube filling, cartoning, wrapping, and conveyor solutions and engineering activities. ITC Limited was incorporated in 1910 and is headquartered in Kolkata, India.
Details
Sector
Consumer Defensive
Industry
Tobacco
CEO
Mr. Hemant Malik
Headquarters
Kolkata
Employees
22,493
Website
itcportal.comExchange
View on NSE ↗Key stats
Market cap
₹3.29 L Cr
P/E ratio (TTM)
16.6
Dividend yield
6.10%
EPS (TTM)
₹15.84
Beta (1Y · daily vs NIFTY 50)
0.64
Beta (5Y · monthly vs NIFTY 50)
0.88
Shares float
959.63 Cr
EPS · quarter ended Jun 2026
₹3.51
Upcoming earnings
29 Oct 2026
Financial Performance
01 · Financials
FY21 growth needs FY20 filings, which the data source doesn't provide.
02 · Earnings Per Share (EPS)
03 · Dividend Profile
Growth compares completed fiscal-year dividend totals on the company's own calendar: April–March (Indian FY), taken from its reported period-ends. Payout ledger: NSE corporate actions.
04 · Operating Efficiency (Growth Rates)
Balance-sheet-based
05 · Capital Structure & Asset Utilization
Asset turnover needs a prior year of assets — omitted for the earliest available year.
06 · Asset Base Composition
07 · Debt Level & Coverage
08 · Profit & Loss
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹53,155.12 Cr | ₹65,204.96 Cr | ₹76,518.21 Cr | ₹67,391.04 Cr | ₹81,612.78 Cr | ₹78,213.28 Cr | |
| EBITDA | ₹19,635.26 Cr | ₹22,494.76 Cr | ₹27,718.29 Cr | ₹28,255.78 Cr | ₹28,922.58 Cr | ₹29,829.09 Cr |
| ₹13,161.19 Cr | ₹15,242.66 Cr | ₹19,191.66 Cr | ₹20,458.78 Cr | ₹34,746.63 Cr | ₹20,689.47 Cr | |
| Diluted EPS | ₹10.7 | ₹12.37 | ₹15.46 | ₹16.38 | ₹27.75 | ₹16.51 |
Net income for Mar 2021 could not be independently verified against the company's own annual report: this page shows ₹13,161.19 Cr while the annual report gives ₹13,382.88 Cr (1.7% apart). That disagreement leaves the whole cross-check inconclusive, so Net income for Mar 2020 (the annual report alone gives ₹15,592.78 Cr) is left blank here too, rather than shown from only one of the two sources.
09 · Balance Sheet
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹73,819.30 Cr | ₹77,259.55 Cr | ₹85,882.98 Cr | ₹91,754.00 Cr | ₹88,003.00 Cr | ₹93,637.00 Cr | |
| ₹270.83 Cr | ₹249.44 Cr | ₹306.04 Cr | ₹303.73 Cr | ₹284.84 Cr | ₹2,399.36 Cr | |
| Stockholders' equity | ₹60,347.34 Cr | ₹62,455.57 Cr | ₹69,155.26 Cr | ₹74,507.00 Cr | ₹70,030.00 Cr | ₹72,507.00 Cr |
Annual only — the data source doesn’t publish quarterly balance-sheet detail for most NSE-listed companies.
10 · Cash Flow Statement
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹12,527.09 Cr | ₹15,775.51 Cr | ₹18,878.00 Cr | ₹17,179.00 Cr | ₹17,627.00 Cr | ₹18,464.00 Cr | |
| Investing cash flow | ₹5,682.91 Cr | ₹-2,238.49 Cr | ₹-5,732.29 Cr | ₹1,562.77 Cr | ₹-364.10 Cr | ₹-2,320.74 Cr |
| ₹-18,633.83 Cr | ₹-13,580.50 Cr | ₹-13,006.00 Cr | ₹-18,551.00 Cr | ₹-17,037.00 Cr | ₹-16,147.00 Cr | |
| Capital expenditure | ₹-1,836.64 Cr | ₹-2,141.64 Cr | ₹-2,743.00 Cr | ₹-3,563.00 Cr | ₹-2,279.00 Cr | ₹-2,183.00 Cr |
| End cash position | ₹310.16 Cr | ₹266.68 Cr | ₹405.91 Cr | ₹596.58 Cr | ₹622.38 Cr | ₹618.83 Cr |
Annual only — the data source has no quarterly cash-flow-statement coverage.
11 · Shareholding Pattern
NSE, quarterly
| Line item | Sep 21–Jun 26(20Q) |
|---|---|
| Promoter | 0.00% |
| Public | 100.00% |
| Employee trusts | 0.00% |
Source: NSE quarterly shareholding-pattern filings, collapsed to periods where the reported percentages held steady — a column spanning several quarters means no change was filed across them. No FII/DII sub-split available from this source — Public includes all non-promoter, non-employee-trust holders.
12 · Peer Comparison
Consumer Defensive
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| Hindustan Unilever Limited | ₹4.56 L Cr | ₹1,932 | 43.7 | 9.36 | 30.9% | 0.03 | +5.3% | -25.3% |
| ITC Limited | ₹3.34 L Cr | ₹262.3 | 16.8 | 4.60 | 28.5% | 0.03 | +4.8% | -36.3% |
| Nestle India Limited | ₹2.67 L Cr | ₹1,383.3 | 69.9 | 66.52 | 80.0% | 0.29 | +19.6% | +14.1% |
| Avenue Supermarts Limited | ₹2.42 L Cr | ₹3,749.9 | 79.4 | 9.89 | 12.1% | 0.10 | +16.0% | -21.2% |
| Varun Beverages Limited | ₹1.41 L Cr | ₹421.95 | 41.5 | 7.18 | 15.5% | 0.13 | +7.1% | -10.9% |
| Britannia Industries Limited | ₹1.20 L Cr | ₹4,982 | 45.7 | 23.58 | 49.6% | 0.27 | +7.5% | -18.3% |
| Marico Limited | ₹1.06 L Cr | ₹803.9 | 56.0 | 25.19 | 41.9% | 0.13 | +26.2% | +11.7% |
| TATA CONSUMER PRODUCTS LIMITED | ₹98,978.89 Cr | ₹1,013.7 | 60.4 | 4.54 | 7.1% | 0.13 | +15.2% | -10.8% |
| United Spirits Limited | ₹98,697.70 Cr | ₹1,371 | 58.5 | 11.02 | 20.5% | 0.05 | +7.8% | +3.3% |
| Godrej Consumer Products Limited | ₹89,334.52 Cr | ₹880 | 46.6 | 7.06 | 14.7% | 0.35 | +8.5% | -28.9% |
| Dabur India Limited | ₹67,765.15 Cr | ₹384.55 | 34.7 | 5.93 | 16.6% | 0.11 | +5.2% | -28.1% |
| Radico Khaitan Limited | ₹58,684.29 Cr | ₹4,535.4 | 83.1 | 17.70 | 18.2% | 0.24 | +24.8% | +50.7% |
Ranked by market cap within Consumer Defensive, same metrics as the Fundamentals screener. Click a column to sort.
Documents
Annual reports
Show all 29
Official documents linked from their sources — offer documents as filed with SEBI (sebi.gov.in), annual reports and earnings-call transcripts as published on BSE (bseindia.com) and NSE (nseindia.com). Links open the source's own hosting; nothing is re-hosted here.
Index membership
67 indices
NSE weights are a free-float market-cap-share estimate, not NSE’s own published (and sometimes capped) index weight. BSE weights are BSE’s own published index weight, not an estimate. Indices without weight data are listed without one, in alphabetical order after the weighted ones.
ITC stock: 360 ONE maintains BUY, sees 68% upside; here’s why brokerage is bullish
360 ONE Capital Research maintained a BUY rating on ITC with a target price of ₹440 per share, implying a 68% upside from its current price. The brokerage is bullish due to improving cigarette profitability despite volume pressure, growth in FMCG and paperboards, and increased exposure to technology. They expect pricing power to offset volume declines in the cigarette business.
Sanjiv Puri’s big bet on India’s post-plastic economy: ITC becomes largest integrated paperboards and paper business after Century Pulp acquisition
ET Now · 2 days ago