ITC is now the 8th most valued company in India, with a market valuation of 5,61,542 crore INR.
If you are looking to invest in ITC, and are not sure if it is the right decision to make, we are going to help you decide with our article on ITC share price Target 2023 to 2030. First of all, let’s look at some information about ITC.
ITC Limited is an Indian company formed by a bunch of many firms. It has a total of 13 businesses in around 5 segments. Its recent share value stands at Rupees 449 as of 1st December 2023.
There are various sectors in ITC including hotels, and various other companies merged. ITC currently exports to 90 countries.
ITC is known to be the second most popular FMCG company.
Key Highlights from ITC’s Q2 Financial Results
- Profits Surge: ITC reports a standalone net profit of Rs 4,927 crore in Q2, marking a significant 10.32 percent growth compared to the previous year.
- Revenue Growth: Total revenue from various business segments reaches Rs 16,550 crore, reflecting a substantial 2.6 percent increase.
- Strong Cigarette Business Performance: Revenue from the cigarette business sees a robust 10.13 percent YoY growth, reaching Rs 7,657 crore, up from Rs 6,953 crore in the same period the previous year.
- FMCG Business Growth: The FMCG business also demonstrates growth, with an 8.35 percent YoY increase, pushing revenue for this segment to Rs 5,293 crore.
- Remarkable Hotel Business Revenue: The hotel business records a remarkable revenue surge, up by 21.31 percent YoY, reaching Rs 649 crore from Rs 535 crore in the year-ago period.
- EBITDA Growth: ITC’s EBITDA (earnings before interest, taxes, depreciation, and amortization) reaches Rs 6,041.5 crore, reporting a 3 percent growth compared to the same period in the previous year.
- Meeting Market Estimates: The company’s Q2 results closely align with market estimates, as a poll of four brokerages anticipated a net profit of Rs 4,933.9 crore and revenue of Rs 16,870 crore.
- Post-Demerger Earnings: These results mark the first quarterly earnings after the board approved the demerger of ITC Hotels in August, signifying a notable milestone for the conglomerate.
Financesrule Recommended
| When | Maximum Price | Minimum Price |
| December 2023 | ₹482.76 | ₹419.79 |
In December 2023, the projected share price for TC stands at a maximum of ₹482.76 and a minimum of ₹419.79. Investors anticipate fluctuations within this range, reflecting market dynamics.
The stock’s current Price/Earnings (P/E) ratio, a key valuation metric, is at 27.7, indicating the market’s confidence in the company’s future earnings potential.
As of December 1st, 2023, the stock is trading at ₹449, aligning with the anticipated range. These projections suggest a cautious optimism in the market, with investors closely monitoring the company’s performance and economic indicators for potential growth or risks in the coming months.
We compared all FMCG stocks here
| When | Maximum Price | Minimum Price |
| January 2024 | ₹492.61 | ₹428.36 |
| February 2024 | ₹502.67 | ₹437.10 |
| March 2024 | ₹512.92 | ₹446.02 |
| April 2024 | ₹497.98 | ₹433.03 |
| May 2024 | ₹490.63 | ₹426.63 |
| June 2024 | ₹508.29 | ₹441.99 |
| July 2024 | ₹503.20 | ₹437.57 |
| August 2024 | ₹523.33 | ₹455.07 |
| September 2024 | ₹544.27 | ₹473.28 |
| October 2024 | ₹533.59 | ₹464.00 |
| November 2024 | ₹549.60 | ₹477.91 |
| December 2024 | ₹563.34 | ₹489.86 |
In 2024, ITC’s share price is forecasted to exhibit a fluctuating trajectory. The maximum and minimum price projections for each month indicate a potential upward trend from ₹428.36 in January to ₹563.34 in December. Investors may observe a peak in August at ₹523.33 and a trough in April at ₹497.98.
These projections suggest a dynamic market response to various factors, such as company performance, industry trends, and economic conditions. It is imperative for investors to closely monitor these monthly fluctuations to make informed decisions, recognizing the potential for both growth opportunities and risks in the coming year.
| When | Maximum Price | Minimum Price |
| January 2025 | ₹574.61 | ₹442.01 |
| February 2025 | ₹589.34 | ₹453.34 |
| March 2025 | ₹612.33 | ₹471.02 |
| April 2025 | ₹600.32 | ₹461.79 |
| May 2025 | ₹582.84 | ₹448.34 |
| June 2025 | ₹609.06 | ₹468.51 |
| July 2025 | ₹597.12 | ₹459.32 |
| August 2025 | ₹615.59 | ₹473.53 |
| September 2025 | ₹637.13 | ₹490.10 |
| October 2025 | ₹653.70 | ₹502.85 |
| November 2025 | ₹670.04 | ₹515.42 |
| December 2025 | ₹686.79 | ₹528.30 |
In the intricate tapestry of the stock market, ITC’s share price for 2025 paints a picture of dynamic fluctuations and potential growth. January kicks off with a projected range of ₹442.01 to ₹574.61, showcasing the volatility investors may navigate.
As the year unfolds, peaks and troughs present themselves, with February witnessing a high of ₹589.34 and May experiencing a dip to ₹582.84. The undulating journey continues, culminating in December with an anticipated peak of ₹686.79.
These projections suggest a market responding to multifaceted influences, encompassing company performance, industry trends, and broader economic dynamics.
Investors navigating this landscape must remain vigilant, recognizing the interplay of factors shaping ITC’s trajectory. The ascending trend throughout the year, reaching a zenith in December, indicates optimism, but it also underscores the need for investors to stay informed and adapt to the evolving market landscape in 2025.
| Year | Maximum Price | Minimum Price |
| 2026 | ₹721.13 | ₹504.79 |
| 2027 | ₹793.25 | ₹555.27 |
| 2028 | ₹1,110.54 | ₹555.27 |
| 2029 | ₹961.51 | ₹480.76 |
| 2030 | ₹1,249.96 | ₹874.97 |
The projected ITC share price targets for the years 2026 to 2030 reveal a potentially lucrative investment landscape for those holding ITC shares.
In 2026, the share price is expected to range from ₹504.79 to ₹721.13, reflecting a significant upward trajectory. This bullish trend continues into 2027, with prices ranging from ₹555.27 to ₹793.25. The year 2028 appears to hold tremendous promise, with ITC shares predicted to reach between ₹555.27 and ₹1,110.54, indicating a potential doubling of share value.
Even in 2029, the share price is projected to range between ₹480.76 and ₹961.51, reflecting continued strong performance. The year 2030 demonstrates remarkable optimism, with prices expected to oscillate between ₹874.97 and ₹1,249.96. These forecasts suggest that ITC shares may offer substantial growth potential in the coming years, presenting investors with opportunities for significant returns, provided that broader market conditions remain favorable. However, investors must conduct thorough research and consider various factors before making investment decisions.
ITC Financial Condition: Last 5 Year
| Mar ’23 | Mar ’22 | Mar ’21 | Mar ’20 | Mar ’19 | |
|---|---|---|---|---|---|
| Net Sales Turnover (Rs Cr) |
66,043.27 | 56,341.27 | 45,485.11 | 45,619.70 | 44,995.65 |
| Other Income (Rs Cr) |
2,437.61 | 2,589.97 | 3,250.99 | 3,013.66 | 2,484.54 |
| Total Income (Rs Cr) |
68,480.88 | 58,931.24 | 48,736.10 | 48,633.36 | 47,480.19 |
| Total Expenses (Rs Cr) |
42,098.80 | 37,407.61 | 29,962.65 | 27,715.45 | 27,690.14 |
| Operating Profit (Rs Cr) |
23,944.47 | 18,933.66 | 15,522.46 | 17,904.25 | 17,305.51 |
| EBITDA (Rs Cr) |
26,382.08 | 21,523.63 | 18,773.45 | 20,917.91 | 19,790.05 |
| Depreciation (Rs Cr) |
1,662.73 | 1,652.15 | 1,561.83 | 1,563.27 | 1,311.70 |
| EBIT (Rs Cr) | 24,719.35 | 19,871.48 | 17,211.62 | 19,354.64 | 18,478.35 |
| Interest (Rs Cr) | 41.81 | 41.95 | 47.47 | 55.72 | 34.19 |
| EBT (Rs Cr) | 24,677.54 | 19,829.53 | 17,164.15 | 19,298.92 | 18,444.16 |
| Taxes (Rs Cr) | 5,997.10 | 4,771.70 | 4,229.66 | 4,030.76 | 5,979.84 |
| Profit and Loss for the Year (Rs Cr) |
18,680.44 | 15,057.83 | 12,934.49 | 15,268.16 | 12,464.32 |
| Extraordinary Items (Rs Cr) |
72.87 | 0.00 | 0.00 | -132.11 | 0.00 |
| Reported PAT (Rs Cr) |
18,753.31 | 15,057.83 | 12,934.49 | 15,136.05 | 12,464.32 |
The financial data for ITC from March 2019 to March 2023 illustrates a consistent growth trend in the company’s performance. Over this period, the net sales turnover increased from Rs 44,995.65 crore in March 2019 to Rs 66,043.27 crore in March 2023, reflecting substantial revenue growth. Total income also exhibited a steady rise, reaching Rs 68,480.88 crore in March 2023, compared to Rs 47,480.19 crore in March 2019. Operating profit and EBITDA followed suit, with healthy growth rates, indicating strong operational efficiency.
The company’s consistent financial performance demonstrates its ability to effectively manage expenses and generate substantial income. Additionally, ITC’s reported profit after tax (PAT) showed a positive trajectory over this period, reaching Rs 18,753.31 crore in March 2023, a significant increase from Rs 12,464.32 crore in March 2019. This upward trend in revenue and profitability underscores ITC’s resilience and competitiveness in its industry. However, it’s important to note that these numbers are subject to various economic and market factors, and potential investors should consider a holistic analysis before making investment decisions.
Why is ITC going up in 2023?
ITC share price is going up in 2023 majorly because of the below-mentioned reasons:
- Strong financial performance: ITC has reported strong financial performance in recent quarters, with revenue and profit growing at a healthy pace. In the June quarter of 2023, though the company’s revenue dropped by 7.1% year-on-year to Rs 17,164 crore, its profit grew by 16% year-on-year to Rs 5,190 crore.
- Generous dividend payouts: ITC is known for its generous dividend payouts. In the fiscal year 2022-23, the company announced a total dividend of Rs 15.50 per share, which is equivalent to a dividend yield of 4.59%.
- Supportive policy environment: The government has been supportive of the FMCG sector, which has helped ITC to grow its business. The government has also taken steps to reduce the tax burden on cigarettes, which has helped to boost ITC’s profitability.
- ITC Hotel Demerger: Another reason why ITC share price might have surged is because of the ITC-ITC Hotel demerger news, and analysts are expecting growth in ITC shares.
Axis Securities recommends purchasing ITC with a target price of Rs 540. (1st December, 2023)
FAQs
ITC’s share price is predicted to reach a maximum of ₹686.79 in December 2025 and the lowest at ₹442.01 in January 2025.
Is it a good time to invest in ITC?
It could be a good time to invest in ITC because the share prices have corrected by more than 10% after reaching 500 INR and are showing a consolidation.
Is ITC undervalued or overvalued?
ITC is now the #7th most valued company in India, by market cap. However, technical analysis of ITC shows, that ITC is expected to rise for and hence undervalued at the current price.
ITC’s Share price target for 2030 is ₹1,249.96.
ITC Share price could reach Rs.1000 by the year 2028. The maximum share price target of ITC in 2028 is ₹1,110.54.
How much dividend ITC declare in May 2023?
ITC has declared a final dividend of Rs 6.75 per equity share and a special dividend of Rs 2.75 per equity share for the financial year 2022-2023. These dividends, along with the interim dividend of Rs 6 per share declared earlier, amount to a total dividend payout of Rs 15.50 per share for FY 2022-2023.
Will ITC stock price grow in 2023?
It‘s hard to tell what ITC‘s stock will do in 2023. Nevertheless, it appears the stock price will keep rising as the company invests in new projects, broadens its enterprises, and keeps on producing profits and dividends. Moreover, the Indian economy is estimated to recover in 2021 and 2022 after the pandemic, which could lead to increased demand for ITC‘s products, pushing up their stock price. We expect ITC to cross Rs.500 by 2023 end.
What is the market cap of ITC?
As of 1st December 2023, the market cap is recorded to be ₹5,57,542 Crores.
What future is anticipated for ITC in 2025?
It‘s not easy to say what the future holds for ITC in 2025. However, due to the firm‘s solid financial performance and optimistic outlook, it looks like ITC should remain a powerful and prosperous company in 2025. The company has been putting money into new projects and widening its businesses, which is expected to cause greater profits and bigger share prices down the line. Plus, the Indian economy is estimated to get back on track in 2021 and 2022 following the pandemic, which could result in increased demand for ITC‘s products, propelling their stock price.
Can ITC reach 1000 INR?
It is difficult to predict whether ITC can reach 1000 INR. However, given the company’s strong financial performance and positive outlook, it is possible that ITC can reach 1000 INR in the future around the year 2028. The company has been investing in new projects and expanding its businesses, which is likely to lead to increased profits and higher share prices in the future. Additionally, the Indian economy is expected to rebound in 2021 and 2022 after the pandemic, and this could lead to increased demand for ITC’s products, driving up their stock price.
Can ITC reach Rs. 500?
ITC crossed Rs.500 momentarily in July 2023. We expect ITC to reach Rs.500 again by December 2023.
Further Read:
- What is SBI Share Price Target 2025?
- What is Tata Motors Share Price Target 2025?
- BAJAJ AUTO SHARE PRICE TARGET 2023, 2024, 2025 TO 2030
ITC Ltd., one of India’s leading multinational conglomerates, has announced a strategic decision to demerge its hotel business, signaling an ambitious value-unlocking plan.
The demerger will see ITC Hotels, a high-performing segment of ITC, become an independent entity. With its management and focus, ITC Hotels is poised to leverage industry-specific growth opportunities more effectively.
In the fiscal year 2023, ITC Hotels reported a year-on-year growth of 99.5% and accounted for 3.2% of ITC’s total revenue. This high growth rate has come as a result of a strong industry recovery, favorable macroeconomic conditions, and strategic initiatives from ITC.
Post-demerger, shareholders of ITC will directly hold stakes in the new entity, enabling independent, market-driven valuation and potentially higher returns. This move is anticipated to boost ITC’s overall numbers, allowing each of its verticals to focus on their growth paths.
In summary, the demerger of ITC Hotels aligns with ITC’s broader strategy to maximize shareholder value by enabling a more focused and efficient approach to managing its diverse businesses.
Final Conclusion: Is ITC Limited A Good Investment to Make in 2023?
In my view, this is the best time to invest in ITC shares as the prices are low, and promising to rise in the future. This would prove to be a good investment for shareholders. ITC is the second fastest growing FMCG, with lesser chances of risks. I also like ITC mainly because I also get dividends every year.
With the demerger of ITC Hotels, value unlocking is expected to happen both in ITC and ITC hotels. I am personally more bullish than ever. I must tell you I hold ITC with a long-term view in mind, and I would not mind ITC dropping by 20% from here. But if you have a shorter duration in mind, I highly recommend you to DYOR, understand risk assessment, and then take a trade in ITC.
Note: We can now see ITC share prices going up post Union Budget 2023 announcement, despite the hike in cigarette hikes.
Disclaimer: All information in this article – ‘ITC Share Price Target 2023 to 2025 is for educational and informational purposes only, and not investment advice.
What did we learn?
- 1 Key Highlights from ITC’s Q2 Financial Results
- 2 How To Buy ITC Shares in India?
- 3 ITC Share Price Target: 2023 to 2030
- 4 ITC Financial Condition: Last 5 Year
- 5 Why is ITC going up in 2023?
- 6 ITC Share Price Target by Axis Securities
- 7 FAQs
- 7.1 What will be the share price of ITC in 2025?
- 7.2 Is it a good time to invest in ITC?
- 7.3 Is ITC undervalued or overvalued?
- 7.4 What is the share price target of ITC in 2030?
- 7.5 Can ITC share reach Rs.1000?
- 7.6 How much dividend ITC declare in May 2023?
- 7.7 Will ITC stock price grow in 2023?
- 7.8 What is the market cap of ITC?
- 7.9 What future is anticipated for ITC in 2025?
- 7.10 Can ITC reach 1000 INR?
- 7.11 Can ITC reach Rs. 500?
- 8 ITC – ITC Hotels Demerger: What does it mean for ITC shareholders?
- 9 Final Conclusion: Is ITC Limited A Good Investment to Make in 2023?
