ITC Limited is one of India’s most diversified and financially robust conglomerates, with leadership in FMCG (especially cigarettes), agri-business, paperboards, hotels, and a rapidly growing food and personal care segment. Incorporated in 1910 and formerly part of the British American Tobacco group, ITC has evolved into a debt-free, cash-rich Indian multinational with strong brand equity and consistent profitability. As of January 2026, it remains a core holding for long-term investors seeking stable returns, high dividends, and exposure to India’s consumption story. This article provides a data-driven outlook on the ITC share price target 2026–2030.
ITC: Company Overview
- Founded: 1910
- Chairman: Shri Sanjiv Puri
- NSE Symbol: ITC
- Key Segments: FMCG Cigarettes (42% of revenue), FMCG Others (28%), Agri Business (15%), Paperboards & Packaging (9%), Hotels (3%)
- Market Position: India’s largest cigarette maker (80% market share in organized segment); top-3 FMCG player by revenue
ITC operates with near-zero debt (₹1.76 Cr) and holds ₹3,184 Cr in cash—making it one of the strongest balance sheets in corporate India. Its cigarette business funds diversification into non-cigarette FMCG, where brands like Aashirvaad, Sunfeast, Bingo!, and Savlon are gaining scale.
ITC: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹417 |
| Market Capitalization | ₹4,12,516 Cr |
| No. of Shares Outstanding | 1,252.90 Cr |
| 52-Week High / Low | ₹472 / ₹390 |
| P/E Ratio (TTM) | 20.23 |
| P/B Ratio | 6.01 |
| EPS (TTM) | ₹16.27 |
| Book Value (TTM) | ₹54.74 |
| ROE | 28.87% |
| ROCE | 37.91% |
| Dividend Yield | 4.29% |
| Face Value | ₹1 |
| Sales Growth (YoY) | 10.69% |
| Profit Growth (YoY) | 0.91% |
| Promoter Holding | 0% |
ITC Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹440 – ₹485 |
| 2027 | ₹470 – ₹525 |
| 2028 | ₹500 – ₹570 |
| 2029 | ₹530 – ₹620 |
| 2030 | ₹560 – ₹670 |
ITC Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹440 | ₹485 |
ITC reported modest 0.91% YoY profit growth in FY2025 due to higher input costs and muted growth in non-cigarette FMCG. However, its ROE of 28.87% and ROCE of 37.91% reflect exceptional capital efficiency. Trading at a P/E of 20.23x and P/B of 6.01x, the stock is fairly valued for a quality compounder. A 2026 target range of ₹440–₹485 assumes margin recovery and sustained dividend payout (~78%).
ITC Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹470 | ₹525 |
If ITC accelerates growth in foods, personal care, and staples—and maintains cigarette pricing power—earnings could grow at 8–10% annually. Assuming EPS reaches ₹17.50–₹18.50 by FY27 and P/E stabilizes at 21–22x, the 2027 target range of ₹470–₹525 is justified.
ITC Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹500 | ₹570 |
By 2028, benefits from rural demand revival, export-led agri growth, and hotel segment recovery should reflect in margins. With ROCE consistently above 35%, ITC can support a premium valuation. A P/E of 22–23x on projected EPS of ₹18.50–₹20 supports the ₹500–₹570 band.
ITC Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹530 | ₹620 |
Long-term tailwinds include India’s rising disposable income, urbanization, and ITC’s “Triple Bottom Line” sustainability model. If competition in FMCG eases and cigarette regulation remains stable, EPS could reach ₹19.50–₹21 by FY29. At a P/E of 22–24x, the 2029 target is ₹530–₹620.
ITC Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹560 | ₹670 |
Over a five-year horizon, ITC remains a high-quality compounder with limited downside due to its cash reserves and dividend policy. A terminal P/E of 23–25x on FY30 EPS (~₹20–₹23) justifies the ₹560–₹670 range. Upside is capped by regulatory risks in tobacco; downside is limited by asset strength.
ITC: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Domestic Institutional Investors (DII) | 47.45% |
| Foreign Institutional Investors (FII) | 37.39% |
| Public & Retail | 15.17% |
| Promoters | 0% |
High institutional ownership (84.84%) ensures liquidity and analyst coverage. The absence of promoters reflects its widely held public structure.
ITC: Strengths vs Risks
Strengths:
- Zero net debt and ₹3,184 Cr cash provide unmatched financial flexibility
- Industry-leading ROE (28.87%) and ROCE (37.91%)
- Consistent dividend payer (78%+ payout ratio; 4.29% yield)
- Dominant position in the organized cigarette market (80% share)
Risks:
- Regulatory pressure on tobacco products (sin tax, plain packaging)
- Slower-than-expected growth in non-cigarette FMCG
- High P/B (6.01x) leaves little room for execution misses
- No promoter alignment may reduce strategic urgency
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Low to Moderate |
| Ideal Time Horizon | 5+ years |
| Volatility | Lower than market average |
| Dividend/Income Potential | High (4.29% yield + consistent payouts) |
| Best For | Core portfolio holding for conservative to moderate-risk investors |
FAQs
Is ITC share good to buy?
Yes—for long-term portfolios. At P/E of 20.23x and ROE of 28.87%, it offers reasonable value relative to fundamentals. Avoid if you seek high-growth or low-P/B stocks.
Is ITC owned by Tata?
No. ITC is not owned by the Tata Group. It was historically linked to British American Tobacco (BAT), which reduced its stake to ~18% in 2022. Today, it has no promoter and is publicly held.
What if I invested ₹10,000 in ITC in 2010?
An investment of ₹10,000 in ITC in January 2010 (price: ~₹70) would have bought ~143 shares. With multiple bonuses (e.g., 1:1 in 2016) and splits, this would be ~286 shares today. At ₹417/share (Jan 2026), the value would be ~₹1.19 lakh—a CAGR of ~15% over 16 years, excluding dividends.
Can I hold ITC for long term?
Yes. ITC’s strong balance sheet, brand moat, and dividend reliability make it suitable for long-term holding. Monitor tobacco regulations and FMCG competition closely.
Final Verdict
ITC remains India’s gold standard in diversified, cash-generative conglomerates. While near-term growth is muted, its long-term optionality in FMCG and agri-business offers steady compounding.
Our ITC share price target 2026–2030 (₹440 to ₹670) reflects steady earnings growth, moderate multiple expansion, and sustained investor confidence. It won’t deliver explosive gains, but offers reliable compounding for those betting on India’s consumption evolution.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – ITC Consolidated Page (FY2025 + TTM)
- Finology Ticker – ITC Financials & Analysis
- Groww.in – ITC Stock Profile
- ITC Investor Presentation (Q3 FY26, Jan 2026)
- SEBI Filings & BSE Annual Report FY2025
