Shares of ITC recovered from intra-day lows to trade 0.3% higher. The shares opened flat in on Wednesday. The stock touched a day's high of Rs 423.30 and a day's low of Rs 424.05.
Financial Overview
The following table presents the consolidated quarterly financial performance of ITC:
| Heading | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 17,922.70 Crore | Rs 18,457.33 Crore | Rs 19,990.36 Crore | Rs 18,790.17 Crore | Rs 18,765.00 Crore |
| Net Profit | Rs 5,187.22 Crore | Rs 5,169.37 Crore | Rs 5,050.28 Crore | Rs 5,009.08 Crore | Rs 19,709.47 Crore |
| EPS | 4.10 | 4.08 | 3.99 | 3.95 | 15.77 |
The revenue for the quarter ending March 2025 stood at Rs 18,765.00 Crore, while the net profit was Rs 19,709.47 Crore. The EPS for the same period was Rs 15.77.
The following table presents the consolidated yearly financial performance of ITC:
| Heading | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 49,272.78 Crore | Rs 60,668.09 Crore | Rs 70,936.85 Crore | Rs 70,881.00 Crore | Rs 75,323.34 Crore |
| Net Profit | Rs 13,389.80 Crore | Rs 15,485.65 Crore | Rs 19,427.68 Crore | Rs 20,723.75 Crore | Rs 19,926.05 Crore |
| EPS | 10.70 | 12.37 | 15.50 | 16.42 | 27.79 |
| BVPS | 49.31 | 50.98 | 55.95 | 59.99 | 55.96 |
| ROE | 21.80 | 24.40 | 27.75 | 27.45 | 49.61 |
| Debt to Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
The company's revenue for the year ending March 2025 was Rs 75,323.34 Crore, an increase compared to Rs 70,881.00 Crore in the year ending March 2024. The net profit for the year ending March 2025 was Rs 19,926.05 Crore. The EPS stood at Rs 27.79, and the debt-to-equity ratio remained at 0.00.
The following table shows the yearly income statement of ITC:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Sales | Rs 75,323 Crore | Rs 70,881 Crore | Rs 70,936 Crore | Rs 60,668 Crore | Rs 49,272 Crore |
| Other Income | Rs 2,529 Crore | Rs 2,727 Crore | Rs 1,980 Crore | Rs 1,836 Crore | Rs 2,632 Crore |
| Total Income | Rs 77,853 Crore | Rs 73,608 Crore | Rs 72,917 Crore | Rs 62,504 Crore | Rs 51,905 Crore |
| Total Expenditure | Rs 50,991 Crore | Rs 46,450 Crore | Rs 47,008 Crore | Rs 41,742 Crore | Rs 33,915 Crore |
| EBIT | Rs 26,861 Crore | Rs 27,158 Crore | Rs 25,909 Crore | Rs 20,762 Crore | Rs 17,989 Crore |
| Interest | Rs 45 Crore | Rs 45 Crore | Rs 43 Crore | Rs 39 Crore | Rs 44 Crore |
| Tax | Rs 6,890 Crore | Rs 6,388 Crore | Rs 6,438 Crore | Rs 5,237 Crore | Rs 4,555 Crore |
| Net Profit | Rs 19,926 Crore | Rs 20,723 Crore | Rs 19,427 Crore | Rs 15,485 Crore | Rs 13,389 Crore |
The company's sales increased from Rs 70,881 Crore in March 2024 to Rs 75,323 Crore in March 2025.
The following table shows the quarterly income statement of ITC:
| Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|
| Sales | Rs 18,765 Crore | Rs 18,790 Crore | Rs 19,990 Crore | Rs 18,457 Crore | Rs 17,922 Crore |
| Other Income | Rs 640 Crore | Rs 595 Crore | Rs 610 Crore | Rs 694 Crore | Rs 683 Crore |
| Total Income | Rs 19,405 Crore | Rs 19,386 Crore | Rs 20,601 Crore | Rs 19,152 Crore | Rs 18,606 Crore |
| Total Expenditure | Rs 12,656 Crore | Rs 12,844 Crore | Rs 13,854 Crore | Rs 12,210 Crore | Rs 11,759 Crore |
| EBIT | Rs 21,401 Crore | Rs 6,745 Crore | Rs 6,822 Crore | Rs 6,941 Crore | Rs 6,846 Crore |
| Interest | Rs 10 Crore | Rs 9 Crore | Rs 14 Crore | Rs 11 Crore | Rs 12 Crore |
| Tax | Rs 1,680 Crore | Rs 1,726 Crore | Rs 1,757 Crore | Rs 1,761 Crore | Rs 1,646 Crore |
| Net Profit | Rs 19,709 Crore | Rs 5,009 Crore | Rs 5,050 Crore | Rs 5,169 Crore | Rs 5,187 Crore |
ITC’s sales were Rs 17,922 Crore for the quarter ending March 2024 and Rs 18,765 Crore for the quarter ending March 2025.
Balance Sheet
The following table presents the consolidated balance sheet of ITC:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Share Capital | Rs 1,251 Crore | Rs 1,248 Crore | Rs 1,242 Crore | Rs 1,232 Crore | Rs 1,230 Crore |
| Reserves & Surplus | Rs 68,778 Crore | Rs 72,750 Crore | Rs 67,171 Crore | Rs 59,906 Crore | Rs 57,409 Crore |
| Current Liabilities | Rs 14,334 Crore | Rs 13,690 Crore | Rs 13,739 Crore | Rs 12,163 Crore | Rs 10,689 Crore |
| Other Liabilities | Rs 3,726 Crore | Rs 4,136 Crore | Rs 3,729 Crore | Rs 3,956 Crore | Rs 4,488 Crore |
| Total Liabilities | Rs 88,090 Crore | Rs 91,826 Crore | Rs 85,882 Crore | Rs 77,259 Crore | Rs 73,819 Crore |
| Fixed Assets | Rs 22,148 Crore | Rs 29,901 Crore | Rs 28,074 Crore | Rs 26,677 Crore | Rs 26,530 Crore |
| Current Assets | Rs 43,893 Crore | Rs 41,065 Crore | Rs 39,670 Crore | Rs 34,232 Crore | Rs 34,991 Crore |
| Other Assets | Rs 22,048 Crore | Rs 20,859 Crore | Rs 18,137 Crore | Rs 16,349 Crore | Rs 12,297 Crore |
| Total Assets | Rs 88,090 Crore | Rs 91,826 Crore | Rs 85,882 Crore | Rs 77,259 Crore | Rs 73,819 Crore |
| Contingent Liabilities | Rs 2,187 Crore | Rs 2,292 Crore | Rs 3,093 Crore | Rs 3,205 Crore | Rs 3,527 Crore |
Cash Flow
The following table presents the consolidated cash flow statement of ITC:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Operating Activities | Rs 17,627 Crore | Rs 17,178 Crore | Rs 18,877 Crore | Rs 15,775 Crore | Rs 12,527 Crore |
| Investing Activities | Rs -395 Crore | Rs 1,562 Crore | Rs -5,732 Crore | Rs -2,238 Crore | Rs 5,682 Crore |
| Financing Activities | Rs -17,037 Crore | Rs -18,550 Crore | Rs -13,006 Crore | Rs -13,580 Crore | Rs -18,633 Crore |
| Others | Rs -168 Crore | Rs 0 Crore | Rs 0 Crore | Rs 0 Crore | Rs 56 Crore |
| Net Cash Flow | Rs 25 Crore | Rs 190 Crore | Rs 139 Crore | Rs -43 Crore | Rs -366 Crore |
Financial Ratios
The following table presents the key financial ratios for ITC:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Basic EPS (Rs.) | 27.79 | 16.42 | 15.50 | 12.37 | 10.70 |
| Diluted Eps (Rs.) | 27.75 | 16.38 | 15.46 | 12.37 | 10.70 |
| Book Value /Share (Rs.) | 55.96 | 59.99 | 55.95 | 50.98 | 49.31 |
| Dividend/Share (Rs.) | 14.35 | 13.75 | 15.50 | 11.50 | 10.75 |
| Face Value | 1 | 1 | 1 | 1 | 1 |
| Gross Profit Margin (%) | 37.84 | 40.88 | 38.97 | 37.07 | 39.85 |
| Operating Margin (%) | 35.66 | 38.32 | 36.42 | 34.22 | 36.51 |
| Net Profit Margin (%) | 46.38 | 29.23 | 27.38 | 25.52 | 27.17 |
| Return on Equity (%) | 49.61 | 27.45 | 27.75 | 24.40 | 21.80 |
| ROCE (%) | 36.41 | 34.76 | 35.81 | 31.89 | 28.49 |
| Return On Assets (%) | 39.44 | 22.27 | 22.34 | 19.72 | 17.82 |
| Current Ratio (X) | 3.06 | 3.00 | 2.89 | 2.81 | 3.27 |
| Quick Ratio (X) | 1.96 | 1.95 | 2.02 | 1.91 | 2.29 |
| Debt to Equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage Ratios (X) | 632.67 | 630.60 | 639.94 | 571.51 | 403.54 |
| Asset Turnover Ratio (%) | 0.84 | 0.80 | 0.83 | 0.76 | 66.74 |
| Inventory Turnover Ratio (X) | 1.58 | 1.66 | 1.84 | 1.57 | 4.69 |
| 3 Yr CAGR Sales (%) | 11.43 | 19.94 | 19.83 | 12.01 | 6.49 |
| 3 Yr CAGR Net Profit (%) | 13.43 | 24.41 | 11.65 | 9.89 | 7.97 |
| P/E (x) | 14.74 | 26.09 | 24.74 | 20.26 | 20.42 |
| P/B (x) | 7.32 | 7.18 | 6.89 | 4.95 | 4.46 |
| EV/EBITDA (x) | 17.86 | 18.23 | 17.08 | 13.55 | 13.48 |
| P/S (x) | 6.81 | 7.55 | 6.72 | 5.09 | 5.46 |
The company’s Return on Equity (ROE) increased from 27.45% in March 2024 to 49.61% in March 2025.The debt to equity ratio remained at 0.00.
Corporate Actions
On July 11, 2025, ITC Limited announced the allotment of 4,539,620 shares. Additionally, there was an allotment of shares under the Employee Stock Option Schemes of the Company.
ITC announced a final dividend of Rs 7.85 per share (785%) on May 22, 2025, with an effective date of May 28, 2025. Also, interim dividend of Rs 6.50 per share (650%) was announced on Feb 06, 2025 with effective date of Feb 12, 2025.
ITC issued bonus shares on multiple occasions. A bonus ratio of 1:2 was announced on May 20, 2016 (ex-bonus date: July 01, 2016), a bonus ratio of 1:1 was announced on June 18, 2010 (ex-bonus date: August 03, 2010), a bonus ratio of 1:2 was announced on June 17, 2005 (ex-bonus date: September 21, 2005), a bonus ratio of 1:1 was announced on July 12, 1994 (ex-bonus date: September 12, 1994), and a bonus ratio of 3:5 was announced on September 30, 1991 (ex-bonus date: December 12, 1991).
ITC announced a stock split on June 17, 2005, with the old face value of Rs 10 being split into a new face value of Rs 1 (Ex-split date: September 21, 2005).
Moneycontrol's sentiment analysis, conducted on July 9, 2025, indicated a neutral outlook for the stock.
With the stock currently trading at Rs 423.05, ITC has shown a marginal increase from its previous close.
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