With operations in fast-moving consumer products, hospitality, paperboard and packaging, agri-business, and information technology, ITC Ltd is one of India’s most diversified companies. ITC was established in 1910 and has since developed into a well-known brand in India, with a market value of more than $50 billion as of March 2021. ITC has gained recognition as one of the nation’s most ecologically conscientious businesses thanks to its emphasis on sustainability and corporate social responsibility. The history, operations, and effects of ITC on India’s economy and society will all be covered in this article.
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Contents
ITC LTD IN RECENT NEWS
- ITC has become the seventh Indian company to achieve a market capitalization (m-cap) of over Rs 6 lakh crore.
- ITC has reported a remarkable 21.37 percent year-on-year growth in standalone profit for the quarter ending in March 2023.
- ITC has commenced the construction of a food manufacturing facility in Telangana, which is valued at 450 crores.
- ITC has declared a dividend yield of 2.69% without making any dividend payments.
HOW TO BUY ITC SHARES:
In India, you can purchase ITC shares through the following brokers:
1. Upstox
2. Groww
3. Zerodha
4. Olymp Trade
5. AngelOne
6. Paytm Money
ITC SHARE PRICE TARGET 2023
| ITC SHARE PRICE TARGET 2023 | Maximum Price | Minimum Price |
| August 2023 | ₹455.25 | ₹413.86 |
| September 2023 | ₹465.72 | ₹423.38 |
| October 2023 | ₹452.16 | ₹411.05 |
| November 2023 | ₹461.20 | ₹419.27 |
| December 2023 | ₹475.04 | ₹431.85 |
ITC share prices are expected to experience a bullish uptrend in the latter half of the year. According to the table, in November and December 2023, the share prices are expected to reach a maximum of ₹461.20 and ₹475.04 , respectively. This represents a significant growth percentage compared to the minimum prices in August 2023. The month-on-month increase in share prices from August to December 2023 indicates a positive trend in the market. If these predictions hold, it could mean good news for ITC investors who are looking for profitable returns on their investment. However, it’s important to note that these predictions are based on current market trends and may not hold true in the future.
ITC LTD SHARE PRICE TARGET 2024
| ITC SHARE PRICE TARGET 2024 | Maximum Price | Minimum Price |
| January 2024 | ₹731.55 | ₹696.24 |
| February 2024 | ₹821.97 | ₹684.97 |
| March 2024 | ₹865.23 | ₹703.44 |
| April 2024 | ₹786.57 | ₹605.06 |
| May 2024 | ₹655.48 | ₹504.21 |
| June 2024 | ₹786.57 | ₹605.06 |
| July 2024 | ₹668.59 | ₹518.28 |
| August 2024 | ₹735.44 | ₹583.69 |
| September 2024 | ₹772.22 | ₹594.01 |
| October 2024 | ₹908.49 | ₹698.84 |
| November 2024 | ₹953.92 | ₹733.78 |
| December 2024 | ₹972.99 | ₹748.46 |
The data shows that the ITC share prices are expected to have a mixed trend throughout the year. The highest predicted share price is ₹972.99 in December 2024, while the lowest is ₹504.21 in May 2024. This indicates that there may be some volatility in the market, with share prices experiencing both highs and lows throughout the year. However, it’s worth noting that the maximum predicted price of ₹972.99 in December 2024 represents a significant growth percentage from the minimum price in May 2024. If this trend continues, it could mean that ITC investors may still have opportunities for profitable returns in 2024. It’s important to remember that these predictions are based on current market trends and may not hold true in the future. As with any investment, it’s essential to conduct thorough research and seek professional advice before making any financial decisions.
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ITC LTD SHARE PRICE TARGET 2025
| ITC SHARE PRICE TARGET 2025 | Maximum Price | Minimum Price |
| January 2025 | ₹992.45 | ₹763.43 |
| February 2025 | ₹1,044.69 | ₹803.61 |
| March 2025 | ₹1,096.92 | ₹843.79 |
| April 2025 | ₹979.39 | ₹753.38 |
| May 2025 | ₹890.36 | ₹684.89 |
| June 2025 | ₹979.39 | ₹753.38 |
| July 2025 | ₹932.76 | ₹717.51 |
| August 2025 | ₹971.62 | ₹747.40 |
| September 2025 | ₹1,020.20 | ₹784.77 |
| October 2025 | ₹1,081.41 | ₹831.86 |
| November 2025 | ₹1,157.11 | ₹890.09 |
| December 2025 | ₹1,180.26 | ₹907.89 |
The data shows that the ITC share prices are expected to continue their growth trend in the upcoming year. The maximum predicted share price is ₹1,180.26 in December 2025, while the minimum is ₹684.89 in May 2025. This indicates that there will be a steady growth trend for ITC shares throughout the year. Investors who are bullish on ITC LTD may find this data encouraging as it suggests that there may be continued opportunities for profitable returns in 2025. It’s important to note that these predictions are based on current market trends and may be subject to change. As with any investment, it’s essential to conduct thorough research and seek professional advice before making any financial decisions. Overall, the data suggests that ITC LTD has a positive outlook for the future, with expected growth in 2025.
ITC LTD SHARE PRICE TARGET 2026 TO 2030
| ITC SHARE PRICE TARGET BY | Maximum Price | Minimum Price |
| 2026 | ₹826.18 | ₹578.33 |
| 2027 | ₹702.25 | ₹491.58 |
| 2028 | ₹1,264.05 | ₹884.84 |
| 2029 | ₹2,596.56 | ₹1,817.59 |
| 2030 | ₹2,891.63 | ₹2,024.14 |
The data indicates that ITC shares are expected to continue their growth trend, albeit with some fluctuations in the coming years. In 2026, the maximum predicted share price is ₹826.18, while the minimum is ₹578.33. The following year, 2027, the maximum predicted share price is ₹702.25, while the minimum is ₹491.58. The data suggests that there may be a slight dip in share prices during these years, but the overall trend remains positive.
In 2028, the predicted share prices for ITC LTD are expected to experience a significant growth, with the maximum predicted price being ₹1,264.05 and the minimum being ₹884.84. The data for 2029 and 2030 also shows a similar pattern of high growth, with the maximum predicted share prices being ₹2,596.56 and ₹2,891.63, respectively, and the minimum predicted share prices being ₹1,817.59 and ₹2,024.14, respectively.
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FINANCIAL STRENGTH OF ITC LTD (2019 TO 2023)
| METRICS | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| Sales + | 48,340 | 49,388 | 49,257 | 60,645 | 70,919 |
| Expenses + | 29,802 | 30,044 | 32,193 | 40,021 | 45,215 |
| Operating Profit | 18,537 | 19,344 | 17,065 | 20,623 | 25,704 |
| OPM % | 38% | 39% | 35% | 34% | 36% |
| Other Income + | 2,080 | 2,417 | 2,577 | 1,910 | 2,098 |
| Interest | 71 | 81 | 58 | 60 | 78 |
| Depreciation | 1,397 | 1,645 | 1,646 | 1,732 | 1,809 |
| Profit before tax | 19,150 | 20,035 | 17,938 | 20,740 | 25,915 |
| Tax % | 33% | 22% | 25% | 25% | 25% |
| Net Profit + | 12,836 | 15,593 | 13,383 | 15,503 | 19,477 |
| EPS in Rs | 10.27 | 12.45 | 10.69 | 12.37 | 15.44 |
| Dividend Payout % | 56% | 82% | 101% | 93% | 100% |
- Sales: The company’s sales have consistently increased over the years, growing from 48,340 in March 2019 to 70,919 in March 2023. This indicates a positive trend in revenue generation and reflects the company’s ability to expand its market presence and attract customers.
- Expenses: Operating expenses have also seen a steady rise, reaching 45,215 in March 2023. While expenses have increased, they have been relatively manageable compared to the growth in sales, which is a positive sign for the company’s profitability.
- Operating Profit: The company’s operating profit experienced fluctuations, with a peak of 25,704 in March 2023. This suggests that the company’s core business operations are improving and becoming more profitable over time.
- Operating Profit Margin (OPM) %: The OPM% has ranged from 34% to 39% over the years, indicating consistent profitability and efficient management of operating expenses. A higher OPM% is generally favorable for investors.
- Other Income: The company’s other income, which includes non-operating revenue sources, has remained relatively stable, ranging from 1,910 to 2,577. This indicates that the company might have diversified income streams contributing to its overall earnings.
- Interest and Depreciation: Interest expenses and depreciation costs have been reasonably consistent over the years, showing effective management of debt and fixed asset expenses.
- Profit Before Tax: The company’s profit before tax reached 25,915 in March 2023, signifying its ability to generate profits after accounting for all expenses but before tax payments.
- Tax %: The company has maintained a steady tax rate of 25% over the years, in line with typical corporate tax rates in many regions.
- Net Profit: The company’s net profit has experienced fluctuations, but it has shown an overall upward trend, growing from 12,836 in March 2019 to 19,477 in March 2023. This indicates the company’s ability to generate profits for its shareholders after accounting for all expenses and taxes.
- Earnings Per Share (EPS): The EPS has consistently increased from 10.27 in March 2019 to 15.44 in March 2023, suggesting that the company’s profitability per outstanding share has improved over time.
- Dividend Payout %: The dividend payout percentage reached 100% in March 2023, indicating that the company distributed all of its profits as dividends to shareholders in that year
- Overall, the company has demonstrated positive financial performance, with consistent growth in sales, net profit, and EPS. The efficient management of expenses and stable OPM% further reinforces the company’s financial health. However, investors should closely monitor fluctuations in some financial metrics to assess the company’s long-term sustainability and growth prospects.
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FAQ’s
The maximum share price target of ITC LTD in 2025 is Rs. ₹1,180.26
The maximum share price target of ITC LTD in 2028 is Rs. 1264.05
The maximum share price target of ITC LTD in 2029 is Rs. 2596.56
The maximum share price target of ITC LTD in 2030 is Rs. 2891.63
ITC LTD SHARE PRICE TARGET BY EXPERTS:
Various financial institutions have given their recommendations for ITC’s share price target:
1. Prabhudas Lilladher suggests accumulating holdings in ITC with a target price of Rs. 478 as of (29th July 2023.)
2. JM Financial recommends a “buy” call on ITC stock, with a maximum share price target of Rs. 485.
3. Motilal Oswal also gives a “buy” call on ITC shares and sets the target price at Rs. 485. They express bullish sentiment towards ITC.(May 18, 2023)
4. Sharekhan advises investors to purchase ITC stock, with a target price of Rs. 485.(May 25, 2023)
5. Elara Securities, a global brokerage firm, is optimistic about ITC’s prospects and has increased the target price for the FMCG company’s shares to Rs. 473.(July 29, 2023)
Overall, these recommendations indicate positive sentiment and a potential upside for ITC’s share price in the future. Investors should carefully consider these recommendations along with their own research and market conditions before making any investment decisions.
POINTS TO NOTE WHILE INVESTING IN ITC LTD SHARES:
1. The company has very minimal debt, indicating a strong financial position.
2. The company has consistently achieved a commendable Return on Equity (ROE) with a track record of 25.0% over the past 3 years.
3. The company has maintained a healthy dividend payout ratio of 98.0%, providing attractive returns to its shareholders.
4. The company’s working capital requirements have decreased significantly from 29.1 days to 20.1 days, indicating efficient management of its short-term assets and liabilities.
5. The stock is currently trading at 8.18 times its book value, suggesting that the market perceives the company’s assets to be undervalued.
6. Over the past five years, the company has shown modest sales growth of 10.3%, which is relatively lower than expected.
CONCLUSION:
IS ITC LIMITED A GOOD INVESTMENT TO MAKE IN 2023?
ITC LTD has demonstrated consistent revenue growth over the last five years, with growth rates ranging from -0.19% to 20.42%, according to financial statistics. The company’s profit after tax (PAT) growth, however, has been inconsistent, ranging from -14.01% to 21.55%. A good financial performance is demonstrated by the company’s ability to sustain a positive net profit margin that ranges from 25.12% to 30.98%. Although the company’s earnings per share (EPS) have increased throughout the years, it is important to note that its expenses have been steadily rising.
The financial performance of ITC LTD over the past five years has been inconsistent overall, with modest increases in revenue and profit offset by erratic PAT growth.
ITC’s performance has garnered positive attention from various financial institutions. Prabhudas Lilladher recommends accumulating holdings in the company with a target price of Rs. 478 by 29th July 2023. JM Financial also expresses confidence in ITC, offering a “buy” call with a maximum share price target of Rs. 485. Similarly, Motilal Oswal shares the sentiment and sets the target price at Rs. 485, indicating a bullish outlook. Sharekhan advises investors to purchase ITC stock with a target price of Rs. 485. Furthermore, Elara Securities, a global brokerage firm, displays optimism, increasing the target price to Rs. 473. This overall positive sentiment and optimistic outlook from experts suggest ITC’s performance is favorable, making it an attractive investment option.
Suhani Bhat, a student of Hansraj college, is a finance writer who takes deep interest in stock market, mutual funds, and other financial news. She writes for multiple finance blogs, including Financegradeup.com. Other than English, she also speaks Hindi.