NSE: ITC | BSE: 500875

Mid-range Performer

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413.70 -0.40 (-0.10%)

435.1K NSE+BSE Volume

NSE 14 Aug, 2025 9:28 AM (IST)

518,174.7

Market Cap

Market Leader

0.7

Beta 1Year

Very Low volatility

ITC Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for ITC, BSE:500875 ITC Ltd.

ITC Ltd.

31 Jan 2020

413.70

-0.10%

Q3FY20 Result Update

Buy: ITC Ltd.

Target

Prabhudas Lilladhar

beneficiary of an uptick in FMCG demand (increasing depth and width of portfolio) and is inching towards double digit EBIDTA margins over next 2-3 years, in our view. Paperboard business is in fine fettle given gains from steady prices and benign input costs. Hotels ARR and occupancy indicates steady improvement in industry dynamics, however recent outbreak of Corona Virus might impact tourist flow in the peak season. ITC trades at 15.7xFY22 EPS, ~50% discount to our coverage universe with 3% dividend yield and 12% PBT CAGR over FY20-22. Risk reward remains favorable,...

ITC Ltd. has an average target of 508.14 from 7 brokers.

ITC Ltd.

07 Nov 2019

413.70

-0.10%

ITC LIMITED

Buy: ITC Ltd.

Recommendation Target

Geojit BNP Paribas

The company reported revenue growth of 5.9% YoY to Rs. 11,750 cr in Q2FY20. Across segments, the growth was led by Agri business (+19.3% YoY to Rs. 2,648cr). Revenue from FMCG business increased 5.2% YoY to Rs. 8,615cr. Growth in FMCG revenue has tapered down due to the weakness in overall demand environment especially in rural markets and wholesale channel, tight liquidity conditions coupled with disruptions and floods in several parts of the country. Despite slowdown in consumption, revenue from Paper boards, paper and packaging grew at 9.9% YoY to Rs. 1,565 cr. Hotel business revenue also rose 17.7% to Rs. 427cr....

Axis Direct decreased Buy price target of ITC Ltd. to 490.0 on 04 Aug, 2025.

ITC Ltd.

29 Oct 2019

413.70

-0.10%

Result Update:ITC - Q2FY20

Buy: ITC Ltd.

Axis Direct

ITC reported in-line growth for Q2 with 6%/7% revenue/EBIT growth in its corecigarette segment led by 3% cigarette volume growth (3% vs 3-4% estimates). It reported ~15% growth in Non-Cigarette EBIT led by better sustained improvement in FMCG profitability

ITC Ltd. is trading below all available SMAs

ITC Ltd.

25 Oct 2019

413.70

-0.10%

ITC (2QFY20): Re-rating on the cards. Maintain BUY

Buy: ITC Ltd.

Target

HDFC Securities

Stable taxes in FY19 accelerated cig volume growth to 5.5% vs. -5% CAGR during FY15-18. EBIT growth also accelerated to 9% vs. 7% CAGR during FY15-18. Still ITC did not enjoy a re-rating as investors flocked towards ITC's peers (HUL, Dabur and Britannia etc.). Rather cig business saw a de-rating (>20% fall, based on assigning fair valuation to other segments) over the last 12-months. We expect cig valuation will recover owing to (1) Continuation of stable taxes, (2) EBIT margin expansion and (3) Pickup in rural market. We believe cig valuation will recover to its avg. of 18x EV/EBITDA (still lower than 25x for Colgate which is similar wrt market leadership, vol growth trajectory and pricing power). Other catalyst in the business is FMCG, with scope for margin expansion. We continue to believe that valuation discount will narrow. ITC clocked in-line performance, with no deceleration vs. 1Q (most consumer cos were impacted by slowdown and floods). Cig rev/vol/EBIT growth of 6/3/7.4% was steady. FMCG and Hotels outperformed with rev/EBITDA growth of 6.5/39% and 18/37%. ITCs earnings growth (ex-corp tax benefits) of 10% has been steady over the last 8 quarters, still stock has been de-rated. We believe de-rating is unwarranted when the co is consistently showing quality earnings. We value ITC on SoTP basis and arrive at a TP of Rs 368 (implied P/E of 25x). Maintain BUY.

ITC Ltd. is trading below all available SMAs

ITC Ltd.

25 Oct 2019

413.70

-0.10%

ITC Limited

Buy: ITC Ltd.

Target

ICICI Securities Limited

Cigarette, FMCG growth weakens; margins continue to impress Cigarette sales grew 6% YoY with an estimated 3% YoY increase in volumes and 3% increase in realisations led by select price hike and mix improvement. We believe cigarette volume growth was a tad slower due to slower growth in ITC's sub 64 mm portfolio. Weak rural demand and floods in certain geographies have also impacted demand in this segment. Cigarette EBIT increased 7.4% YoY with 96 bps expansion in margins on account of relatively lower growth in sub 64mm portfolio and salience of...

Axis Direct decreased Buy price target of ITC Ltd. to 490.0 on 04 Aug, 2025.

ITC Ltd.

24 Oct 2019

413.70

-0.10%

ITC

Hold: ITC Ltd.

Recommendation Target

Sharekhan

ITC posted steady numbers in Q2FY2020 with revenue growing by 5.3% and operating profit growing by 8.5% (OPM increased 112 bps to 38.4%). Higher other income led to a 10% y-o-y growth in profit before tax. A lower tax incidence drove up profit after tax (PAT) by 36%. Core cigarette business volumes grew by 3% largely driven by higher growth in premium cigarettes while regular and small-size cigarettes registered muted performance due to higher salience of sales in rural markets. The non-cigarette FMCG business continues...

Axis Direct decreased Buy price target of ITC Ltd. to 490.0 on 04 Aug, 2025.

ITC Ltd.

30 Aug 2019

413.70

-0.10%

ITC LIMITED

Hold: ITC Ltd.

Recommendation Target

Geojit BNP Paribas

Q1FY20 revenue rose 6.0% YoY on strong growth in Agri business (+14.6% YoY) followed by FMCG (+6.2% YoY). Group EBIT grew 7.8% YoY with EBIT margin increasing 62bps YoY to...

ITC Ltd. has an average target of 508.14 from 7 brokers.

ITC Ltd.

09 Aug 2019

413.70

-0.10%

Result Update:ITC

Buy: ITC Ltd.

Target

Axis Direct

ITC reported lower than expected revenue growth for Q1 dragged by disappointing cigarette volume growth (3% vs 5-6% estimates). It reported ~8% EBIT growth in its core cigarette business led by better product mix.

Axis Direct decreased Buy price target of ITC Ltd. to 490.0 on 04 Aug, 2025.

ITC Ltd.

06 Aug 2019

413.70

-0.10%

ITC

Results Update: ITC Ltd.

SMC online

ITC Ltd.s profit in the June quarter met estimates as its operating margin rose. For the quarter ended June 2019, sales grew 7% to Rs 12657.90 crore. OPM rose 80 basis points to 39.0% which took OP up 9% to Rs 4937.75 crore. Other income jumped 53% to Rs 647.29 crore and interest cost grew 85% to Rs 14.58 core. As depreciation grew 18% to Rs 378.94 crore, PBT grew 12% to Rs 5191.52 crore. Tax grew 10% to Rs 1755.01 crore after which PAT went up 13% to Rs 3436.51 crore. Minority...

ITC Ltd. is trading below all available SMAs

ITC Ltd.

05 Aug 2019

413.70

-0.10%

ITC

Buy: ITC Ltd.

Target

Sharekhan

ITC posted a mixed set of numbers in Q1FY2020 with revenue growing by just 6%, while better operating margins (OPM) and higher other income helped PAT grow by ~12%. Sales volumes of the core cigarette business grew by just 3%, missing ours as well as the street's expectation of 5-6%. Non-cigarette FMCG business grew by 8% (excluding discontinued retail business), while it's EBIDTA grew by 41%. Other businesses did well by clocking double-digit revenue growth. Discounted valuations of 21.5x its FY2021E earnings make...

Number of FII/FPI investors decreased from 974 to 950 in Jun 2025 qtr

Is ITC Ltd. worth buying?

6223 Votes:

Buy 76.83%

Sell 12.04%

Hold 11.14%

RESEARCH REPORTS

Buy SEE REPORTS >

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Buy SEE REPORTS >

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