Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹3,96,244Cr
Cigarettes & Tobacco Products
Rev Gr TTM
Revenue Growth TTM
8.44%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

ITC
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 6.5 | -7.2 | 3.9 | -2.9 | -3.4 | 3.6 | 12.5 | 9.3 | 10.1 | 20.9 | -2.4 | 6.7 |
| 11,011 | 10,494 | 11,320 | 10,985 | 10,736 | 11,233 | 13,438 | 12,428 | 12,246 | 14,678 | 12,807 | 13,165 |
Operating Profit Operating ProfitCr |
| 37.6 | 38.9 | 36.3 | 36.1 | 37.0 | 36.8 | 32.8 | 33.9 | 34.7 | 31.7 | 34.3 | 34.3 |
Other Income Other IncomeCr | 683 | 722 | 674 | 651 | 683 | 686 | 615 | 600 | 739 | 751 | 739 | 322 |
Interest Expense Interest ExpenseCr | 12 | 10 | 10 | 12 | 11 | 10 | 15 | 10 | 11 | 16 | 20 | 19 |
Depreciation DepreciationCr | 461 | 442 | 453 | 384 | 385 | 403 | 416 | 416 | 411 | 423 | 435 | 431 |
| 6,833 | 6,940 | 6,665 | 6,466 | 6,590 | 6,819 | 6,736 | 6,536 | 6,836 | 7,128 | 6,979 | 6,754 |
| 1,608 | 1,760 | 1,700 | 1,228 | 1,584 | 1,726 | 1,757 | 1,726 | 1,681 | 1,785 | 1,792 | 1,736 |
|
Growth YoY PAT Growth YoY% | 22.7 | 16.1 | 6.3 | 6.6 | -0.7 | -0.1 | 1.8 | -7.3 | 281.6 | 3.2 | 2.6 | 0.1 |
| 29.6 | 30.2 | 27.9 | 31.4 | 30.5 | 29.1 | 25.3 | 26.7 | 105.6 | 24.9 | 26.6 | 25.0 |
| 3.9 | 3.9 | 3.7 | 3.8 | 3.9 | 3.9 | 4.0 | 3.7 | 15.8 | 4.2 | 4.1 | 3.9 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 0.9 | 9.2 | 1.6 | 11.3 | 2.2 | -0.3 | 23.1 | 16.9 | -4.2 | 10.9 | 6.0 |
| 24,633 | 24,741 | 27,341 | 26,966 | 29,946 | 30,144 | 32,270 | 40,010 | 45,272 | 42,682 | 49,345 | 52,896 |
Operating Profit Operating ProfitCr |
| 36.6 | 36.9 | 36.1 | 37.9 | 38.1 | 39.0 | 34.5 | 34.0 | 36.2 | 37.2 | 34.5 | 33.7 |
Other Income Other IncomeCr | 1,257 | 1,539 | 1,768 | 2,252 | 2,185 | 2,474 | 2,626 | 1,854 | 2,102 | 2,708 | 2,640 | 2,550 |
Interest Expense Interest ExpenseCr | 68 | 54 | 24 | 90 | 45 | 55 | 45 | 39 | 43 | 39 | 45 | 67 |
Depreciation DepreciationCr | 1,028 | 1,077 | 1,153 | 1,236 | 1,397 | 1,645 | 1,646 | 1,732 | 1,809 | 1,518 | 1,646 | 1,700 |
| 14,362 | 14,859 | 16,026 | 17,409 | 19,150 | 20,035 | 17,938 | 20,740 | 25,915 | 26,400 | 26,927 | 27,697 |
| 4,596 | 5,358 | 5,549 | 5,916 | 6,314 | 4,442 | 4,555 | 5,237 | 6,438 | 6,209 | 6,890 | 6,993 |
|
| | -2.7 | 10.3 | 9.7 | 11.7 | 21.5 | -14.2 | 15.8 | 25.6 | 3.7 | -0.8 | 76.5 |
| 25.1 | 24.2 | 24.5 | 26.4 | 26.6 | 31.6 | 27.2 | 25.6 | 27.5 | 29.7 | 26.6 | 44.3 |
| 7.6 | 4.9 | 8.0 | 8.8 | 9.7 | 11.8 | 10.1 | 11.7 | 14.7 | 15.5 | 27.8 | 28.0 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 802 | 805 | 1,215 | 1,220 | 1,226 | 1,229 | 1,231 | 1,232 | 1,243 | 1,248 | 1,251 | 1,253 |
| 30,934 | 41,875 | 45,198 | 51,290 | 57,915 | 64,044 | 59,116 | 61,223 | 67,912 | 73,259 | 68,779 | 69,819 |
Current Liabilities Current LiabilitiesCr | 12,160 | 6,658 | 7,121 | 9,250 | 10,012 | 9,560 | 10,690 | 12,164 | 13,739 | 13,690 | 14,334 | 15,537 |
Non Current Liabilities Non Current LiabilitiesCr | 1,870 | 2,093 | 2,115 | 2,194 | 2,302 | 2,157 | 2,435 | 2,274 | 2,605 | 3,246 | 3,359 | 3,671 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 25,574 | 24,863 | 26,269 | 26,394 | 31,747 | 39,505 | 34,992 | 34,232 | 39,671 | 41,066 | 43,893 | 47,278 |
Non Current Assets Non Current AssetsCr | 20,416 | 26,829 | 29,674 | 37,895 | 40,051 | 37,862 | 38,827 | 43,027 | 46,212 | 50,761 | 44,197 | 43,524 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 9,843 | 9,799 | 10,627 | 13,169 | 12,583 | 14,690 | 12,527 | 15,776 | 18,878 | 17,179 | 17,627 |
Investing Cash Flow Investing Cash FlowCr | -5,275 | -3,921 | -3,251 | -7,114 | -5,546 | -6,174 | 5,683 | -2,238 | -5,732 | 1,563 | -396 |
Financing Cash Flow Financing Cash FlowCr | -4,661 | -5,613 | -7,301 | -6,221 | -6,869 | -8,181 | -18,634 | -13,581 | -13,006 | -18,551 | -17,037 |
|
Free Cash Flow Free Cash FlowCr | 6,552 | 7,459 | 7,556 | 10,371 | 9,442 | 12,276 | 10,693 | 13,767 | 16,184 | 13,724 | 15,524 |
| 100.8 | 103.1 | 101.4 | 114.6 | 98.0 | 94.2 | 93.6 | 101.8 | 96.9 | 85.1 | 88.0 |
CFO To EBITDA CFO To EBITDA% | 69.3 | 67.8 | 68.8 | 79.9 | 68.4 | 76.3 | 73.7 | 76.4 | 73.5 | 68.0 | 67.8 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 2,60,865 | 2,63,989 | 3,40,673 | 3,12,308 | 3,63,714 | 2,11,426 | 2,68,948 | 3,09,067 | 4,76,552 | 5,35,033 | 5,12,829 |
Price To Earnings Price To Earnings | 30.2 | 31.6 | 33.1 | 27.7 | 28.9 | 13.8 | 20.4 | 20.3 | 24.8 | 26.1 | 14.8 |
Price To Sales Price To Sales | 6.7 | 6.7 | 8.0 | 7.2 | 7.5 | 4.3 | 5.5 | 5.1 | 6.7 | 7.9 | 6.8 |
Price To Book Price To Book | 8.2 | 6.2 | 7.3 | 6.0 | 6.2 | 3.2 | 4.5 | 5.0 | 6.9 | 7.2 | 7.3 |
| 17.8 | 17.9 | 21.9 | 18.8 | 19.5 | 10.6 | 15.6 | 14.8 | 18.4 | 20.9 | 19.6 |
Profitability Ratios Profitability Ratios |
| 62.0 | 65.4 | 62.5 | 63.5 | 64.0 | 64.9 | 59.1 | 56.5 | 59.1 | 60.3 | 57.5 |
| 36.6 | 36.9 | 36.1 | 37.9 | 38.1 | 39.0 | 34.5 | 34.0 | 36.2 | 37.2 | 34.5 |
| 25.1 | 24.2 | 24.5 | 26.4 | 26.6 | 31.6 | 27.2 | 25.6 | 27.5 | 29.7 | 26.6 |
| 45.1 | 34.9 | 34.5 | 33.3 | 32.5 | 30.6 | 29.7 | 33.1 | 37.4 | 35.3 | 38.4 |
| 30.8 | 22.3 | 22.6 | 21.9 | 21.7 | 23.9 | 22.2 | 24.8 | 28.2 | 27.1 | 28.6 |
| 21.2 | 18.4 | 18.7 | 17.9 | 17.9 | 20.1 | 18.1 | 20.1 | 22.7 | 22.0 | 22.8 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
ITC Limited is one of India’s most diversified and innovation-driven conglomerates, with a strong presence across Fast-Moving Consumer Goods (FMCG), Agribusiness, Paperboards & Packaging, Hotels, and Digital Technologies. The company has evolved into a future-ready enterprise through its strategic transformation framework—**"ITC Next"**—which emphasizes sustainability, digital innovation, health & wellness, and value-added product development aligned with emerging consumer trends.
With a portfolio of over **25 homegrown FMCG brands**, a leading position in sustainable agri-sourcing, and expanding digital ecosystems, ITC continues to demonstrate scalable, profitable growth across multiple sectors, reaching over **260 million households** in India and exporting to **over 70 countries**.
---
### **Key Strategic Highlights (Recent Developments – 2025)**
#### **1. FMCG & Consumer Products: Innovation and Premiumisation**
- **Brand Leadership & Expansion:** ITC’s FMCG business generates over **₹34,000 crores in annual consumer spend**, with market leadership in key categories:
- *Aashirvaad* – No. 1 branded atta
- *Sunfeast* – No. 1 cream biscuits
- *Bingo!* – No. 1 snacks (bridges)
- *Classmate* – No. 1 notebooks
- **New Product Development:** Over **100 new differentiated products launched in FY25**, driven by insights from its **Life Sciences & Technology Centre (LSTC)** and culinary expertise from ITC Hotels.
- **Premiumisation Strategy:**
- *Fiama* introduced premium moisturising bars with **Hokkaido milk**.
- *Sunfeast* launched **super-premium cookies** with exotic ingredients via quick commerce.
- *Aashirvaad Besan* offers lump-free batter made with region-specific chana dal using advanced manufacturing.
#### **2. Health, Wellness & Nutrition Focus**
- **Right Shift:** A new brand targeting consumers **over 40**, offering scientifically developed nutrition-dense products like **Jaggery Ragi Cookies**, **Millet Oats Kheer**, and **Chana Mixture**, using clinically proven natural ingredients.
- **24 Mantra Organic Acquisition:** ITC acquired **Sresta Natural Bioproducts**, strengthening its leadership in India's **organic food market**. The acquisition includes a vertically integrated supply chain across **1.4 lakh acres** in 10 states, serving domestic and international markets, including the US.
- **Yoga Bar & 24 Mantra:** Together, they form a **"Good-for-You" portfolio**, promoting healthier eating, sustainability, and organic staples.
#### **3. FoodTech & Cloud Kitchen Expansion**
- **Full-stack Entry into Online Food Services:**
- ITC launched a **FoodTech platform** under ITC Next, operating **four brands**:
- *ITC Master Chef Creations*
- *ITC Aashirvaad Soul Creations*
- *ITC Sunfeast Baked Creations*
- *Sansho by ITC Master Chef*
- **60 cloud kitchens** operational across **five cities** (South & West India), with **108% CAGR over 3 years** and **₹100+ crore GMV in FY25**.
- The business leverages strengths in **food science, FMCG brands, and hotel culinary expertise**.
- **National expansion underway** as part of core growth strategy.
#### **4. Agribusiness & Rural Transformation via ITCMAARS**
- **ITCMAARS Platform:** A **'phygital' (physical + digital) AgriTech platform** supporting over **2.1 million farmers through 2,050 FPOs across 11 states**.
- Offers **AI/ML-driven advisory, input access, market linkage, credit, and traceability**.
- Enhances sourcing efficiency; over **40% of Aashirvaad wheat** procured directly from FPOs.
- **Value-Added Agri Products (VAAP) Growing Rapidly:**
- Portfolio **up 2.2x in 4 years**, including spices, coffee, frozen marine products, processed fruits, and specialty crops.
- Key export segments: **Spices, organic produce, coffee, shrimp** (ITC is **top 3 exporter of frozen shrimps to EU** under ASC certification).
- **New Guntur Spices Facility & Agar Industry Support:**
- Supports indigenous bamboo stick manufacturing and import substitution.
---
### **Sustainability & Innovation Leadership**
#### **1. Sustainable Packaging & Plastic Substitution**
- **Sustainable Paperboards & Packaging**:
- Portfolio **grew 2.6x over 4 years**.
- Platforms: **Compostable (Filo), Recyclable Fusion Boards, Moulded Fibre (MFP)**.
- **ITC Fibre Innovations Limited (IFIL)** launched a **MFP manufacturing facility** in Madhya Pradesh (March 2024), scaling commercial output.
- **FiloPack** certified **Plastic-Free (Flustix)**.
- **Green Manufacturing:**
- Over **50% renewable energy** in paperboard operations.
- Coater machine installed to scale **compostable products**.
- **Innovation Platforms:** *Bioseal* (compostable), *Oxyblock* (recyclable barrier), *Germ-Free Coating* in development.
#### **2. Life Sciences & Technology Centre (LSTC)**
- **R&D Powerhouse:** Over **400 scientists** in Bengaluru, driving innovation in:
- Consumer & Sensory Sciences
- Health & Wellness
- Hygiene
- Sustainable Materials & Packaging
- **Pioneered First-to-Market Products:** Including **B Natural immunity juices, Savlon disinfectants, Sunfeast Dark Fantasy desserts**, and AI-powered skin solutions (Dermafique).
---
### **Digital & Omnichannel Growth**
#### **1. Distribution & Trade Marketing**
- **Extensive Omnichannel Network:** Reaches **7 million retail outlets** daily.
- **ITC e-Store:** Operates in **24,000+ pin codes**, offering **800+ FMCG products across 45+ categories**.
- **Category-Specific D2C Platforms:**
- *Aashirvaadchakki.com* – Atta
- *Fiama.in* – Body care
- *Classmateshop.com* – Customized notebooks
- *Dermafique.com* – Skincare
- **UNNATI Platform:** B2B app digitizing trade partners with **finance, payments, and order fulfillment** integration.
#### **2. Digital Marketing & Consumer Engagement**
- **Real-Time Consumer Data Platform** connects all digital touchpoints.
- **Digital Destinations:**
- *www.letsboing.com* – Comedy content hub for Bingo!
- *www.foodiesonly.in* – Recipe and cooking platform
- **Gamification & Learning:** *MyClassmate app* (2.5M+ downloads), *eduGAMES Infinity* (AI-assisted interactive learning)