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    ITC Limited

    India's largest FMCG conglomerate — cigarettes, packaged foods, personal care, paperboards, agri-business, IT.

    Fast Moving Consumer Goods
    Fast Moving Consumer Goods
    ₹292.5
    -2.16% from avg

    Overview

    Price

    ₹292.5

    Market Cap

    ₹3.6L Cr

    Sector

    Fast Moving Consumer Goods

    Fast Moving Consumer Goods

    Rank

    4

    Performance

    Explore ITC

    Promise TrackerConcall Analysis

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital1.2k1.2k1.2k1.2k1.2k1.3k1.3k1.3k
    Reserves64.0k59.1k61.2k67.9k73.3k68.8k69.8k71.3k
    Borrowings2772712493063032853632.4k
    Other Liabilities11.8k13.1k14.5k16.4k16.9k17.7k19.4k18.7k
    Total Liabilities77.3k73.8k77.2k85.8k91.8k88.0k90.8k93.6k
    AssetsFixed Assets21.7k23.3k24.2k25.9k27.8k22.0k22.4k22.4k
    CWIP3.3k4.0k3.2k3.0k2.9k1.1k1.3k1.6k
    Investments28.7k24.9k24.8k29.4k31.1k34.7k32.5k38.1k
    Other Assets23.7k21.6k24.9k27.6k30.0k30.2k34.5k31.5k
    Total Assets77.3k73.8k77.2k85.8k91.8k88.0k90.8k93.6k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating12.6k14.7k12.5k15.8k18.9k17.2k17.6k18.5k
    Cash from Investing-5.5k-6.2k5.7k-2.2k-5.7k1.6k-564-2.3k
    Cash from Financing-6.9k-8.2k-18.6k-13.6k-13.0k-18.6k-17.0k-16.1k
    SummaryCapital Expenditure————————
    Free Cash Flow9.4k12.3k10.7k13.8k16.2k13.7k15.5k16.3k
    FCF Margin————————

    Valuation

    Assumptions

    Current — ITC
    Price
    ₹293
    EPS (TTM)
    ₹16.52
    PE (TTM)
    17.7
    Profit growth
    2.6%
    ₹

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (25.9×) and current (17.7×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹293
    vs
    Fair value · 15% return
    ₹141
    52%Overvalued

    At 2.6% growth and a 18× exit, ₹293 only delivers your return if you pay ₹141. The price is currently baking in 17% growth.

    EPS grows 2.6%/yr for 5 years, then fades to 6% over 2, exits at 18×.

    YearGrowthEPS (₹)
    FY272.6%16.95
    FY282.6%17.39
    FY292.6%17.84
    FY302.6%18.31
    FY312.6%18.78
    FY324.3% ·fade19.59
    FY336.0% ·fade20.77

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

    Learn to analyse ITC Limited

    Guides on how to read this kind of business and the numbers that matter.