ITC Ltd Share Price & Earnings Call Analysis

Financials of ITC Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of ITC Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +17,63517,16417,77417,19517,03817,77819,99018,79018,76521,49519,50220,04717,825
Expenses +11,01110,49411,32010,98510,73611,23313,43812,42812,24614,67812,80713,16510,900
Operating Profit6,6246,6706,4546,2106,3026,5456,5526,3626,5196,8166,6956,8836,924
OPM %38%39%36%36%37%37%33%34%35%32%34%34%39%
Other Income +68372267482086877169080315,391751739322700
Interest12101012111015101116201929
Depreciation461442453384385403416416411423435431422
Profit before tax6,8336,9406,6656,6356,7746,9036,8116,74021,4897,1286,9796,7547,173
Tax %24%25%26%19%23%25%26%26%8%25%26%26%24%
Net Profit +5,2435,1904,9655,4075,1915,1775,0545,01319,8085,3435,1875,0185,470
EPS in Rs4.164.103.934.284.104.083.993.9415.764.194.093.944.30

Financials of ITC Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +38,81739,19242,76843,44948,34049,38849,25760,64570,91967,93275,32378,868
Expenses +24,56624,66127,29826,92829,80230,04432,19340,02145,21542,74449,48451,550
Operating Profit14,25214,53115,47016,52118,53719,34417,06520,62325,70425,18825,83927,318
OPM %37%37%36%38%38%39%35%34%36%37%34%35%
Other Income +1,2291,4831,7592,2402,0802,4172,5771,9102,0983,33017,7952,511
Interest9178491157181586078394585
Depreciation1,0281,0771,1531,2361,3971,6451,6461,7321,8091,5181,6461,711
Profit before tax14,36214,85916,02617,40919,15020,03517,93820,74025,91526,96141,94328,033
Tax %32%36%35%34%33%22%25%25%25%23%16%25%
Net Profit +9,7799,50110,47711,49312,83615,59313,38315,50319,47720,75135,05221,018
EPS in Rs8.047.748.479.2410.2712.4510.6912.3715.4416.3927.7716.51
Dividend Payout %52%73%56%56%56%82%101%93%100%84%52%88%

Financials of ITC Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital8028051,2151,2201,2261,2291,2311,2321,2431,2481,2511,253
Reserves30,93441,87545,19851,29057,91564,04459,11661,22367,91273,25968,77971,254
Borrowings +269844636132772712493063032852,399
Other Liabilities +13,9488,8889,44011,69512,58511,76013,14314,49116,37016,94417,68818,886
Total Liabilities45,95251,65155,89864,24171,73977,31173,76177,19685,83191,75488,00393,792
Fixed Assets +15,30315,10715,89316,52419,37421,71323,29824,23225,85127,82021,95522,545
CWIP2,7002,5603,7305,5084,1363,2564,0113,2263,0032,8611,0911,499
Investments6,94311,74817,58122,05325,04328,66324,87124,84129,41531,11434,72038,128
Other Assets +21,00622,23718,69420,15623,18523,67821,58024,89827,56129,95930,23731,620
Total Assets45,95251,65155,89864,24171,73977,31173,76177,19685,83191,75488,00393,792

Financials of ITC Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +9,8439,79910,62713,16912,58314,69012,52715,77618,87817,17917,62718,464
Cash from Investing Activity +-5,275-3,921-3,251-7,114-5,546-6,1745,740-2,238-5,7321,563-564-2,321
Cash from Financing Activity +-4,661-5,613-7,301-6,221-6,869-8,181-18,634-13,580-13,006-18,551-17,037-16,147
Net Cash Flow-9326675-166169334-367-4313919126-4
Free Cash Flow6,5527,4597,55610,3719,44212,27610,69313,76716,18413,72415,52416,332
CFO/OP100%102%104%116%99%102%99%101%98%92%93%91%

Financials of ITC Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days191821233019191515222318
Inventory Days212244185173165187189150148191178209
Days Payable506360807476786159655563
Cash Conversion Cycle181199145115122129129104105148146164
Working Capital Days-651453132353631203945144
ROCE %47%40%36%34%34%32%28%33%39%36%37%39%