ITC Limited (ITC) Fair Value & Analysis
Consumer Defensive · IN · Market cap ₹3.5T (≈ $37.4B) · ISIN INE154A01025
What is ITC Limited really worth?
A strong business, currently priced close to our fair value of ₹244.79.
Strengths
Risks
For context
Fair value as of: Aug 22, 2026
From 26 valuation models · updated 14 days ago
Share price −8.0% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- A fairly wide model range (₹148.58 to ₹352.90) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.
How to read this chart
60‑month range ₹158.34 – ₹463.95 · fair‑value band ₹148.58 – ₹352.90 · the ₹264.10 price screens above the ₹244.79 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 22, 2026.
Analysis
ITC Limited (ITC) currently trades at ₹264.10, while our model-based Fair Value estimate is ₹244.79, implying the stock looks roughly 7.9% fairly valued today. The Quality Score stands at 81/100 (high quality), in the Consumer Defensive sector. Bull case: the DCF Models group reads highest at a median of ₹302.16 per share, and 14 of the 26 models we run sit above the ₹264.10 price. Bear case: the Asset-Based group reads lowest at ₹38.77, and 12 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, ITC Limited generated revenue of ₹789B at a net margin of 26.2%. Revenue declined 5.0% year over year. It earns a return on equity of 29.3%. Net debt stands at ₹17.6B. Fundamentals as of Aug 22, 2026
Our scenario range runs from ₹148.58 (bear case) to ₹352.90 (bull case); at ₹264.10, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 35% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 1% fair-value upside, at −7%, ITC screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹0.9291 per share, which is 0.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: DCF Models (₹302.16) versus Asset-Based (₹38.77). Highest evidence: FCF DCF (78).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 76 · Market factors (momentum, volatility) 38
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
ITC Limited engages in the fast-moving consumer goods, paperboards, paper and packaging, and agri businesses in India and internationally.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
ITC Limited reported revenue of ₹782B in FY2026 versus ₹607B in FY2022, a compound +6.6%/yr. Reported net income was ₹207B in FY2026, compounding +7.9%/yr from FY2022.
of which total revenue +7.0 % · buybacks/dilution −0.3 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- ITC Infotech Strengthens Strategic Tech Partnership With British American Tobacco (BAT) in New Multi-year Mandate
- ITC Infotech and Google Cloud Join Hands to Scale Enterprise Agentic Transformation and AI Innovation
- British American Tobacco plans to offload stake in India's ITC Hotels
- Exploring ITC And Two More Leading Dividend Stocks In India
Peer Group
Tobacco · 36 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Tobacco median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Tobacco stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Philip Morris International Inc PM | $190.48 | $103.71 | −46% |
| British American Tobacco p.l.c. BTI | $56.13 | $61.07 | +9% |
| Altria Group MO | $68.65 | $81.81 | +19% |
| KT&G Corporation 033780 | 175,500 KRW | 110,656 KRW | −37% |
| PT Hanjaya Mandala Sampoerna Tbk, HMSP | 745.00 IDR | 1,041 IDR | +40% |
| Smoore International Holdings 6969 | HK$9.24 | HK$4.19 | −55% |
| Godfrey Phillips India Limited GODFRYPHLP | ₹2,160 | ₹1,194 | −45% |
| PT Gudang Garam Tbk, GGRM | 20,675 IDR | 16,988 IDR | −18% |
| TABAK TABAK | 19,100 CZK | 23,215 CZK | +22% |
| China Tobacco International (HK) Company 6055 | HK$23.86 | HK$24.09 | +1% |
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