ITC Limited is an attractive investment option for many investors, especially with its recent plans to acquire 100% of Sproutlife Foods ‘Yoga Bar.’
As the company continues to diversify its portfolio and expand its reach, many are eager to know the ITC share price target for the next few years. From 2023 to 2030, the question on everyone’s mind is, “Is ITC a good auto stock to buy?”
In this article, we will delve into the factors affecting ITC’s share price and provide an in-depth analysis of its future growth prospects. Get ready to learn all about ITC’s current performance and its potential as a lucrative investment opportunity in the coming years.
About ITC Limited
ITC, or Indian Tobacco Company, is one of India’s leading multi-business conglomerates. It is involved in a wide range of activities, ranging from hotels and paper products to customer items and IT services.
With a presence in over 150 countries, ITC is one of the largest multi-business corporations in the world. ITC has a mission to create enduring value for its stakeholders, including shareholders, employees, consumers and society at large. It is committed to sustainability, as well as ethical and responsible business practices.
The company operates in five segments: Fast-Moving Consumer Goods (FMCG), Hotels, Paperboards, Packaging and Agri business. ITC is the market leader in cigarettes in India with a significant and growing market share in the FMCG, Hotels, Paperboards, Packaging and Agri business.
Stock History
ITC has a long and successful history of stock performance in India. Over the past decade, the company’s share price has risen from around Rs. 300 per share in 2010 to around Rs. 332 per share in 2023.
The company has consistently outperformed the benchmark indices and has consistently been one of the top performing stocks on the Indian stock exchanges. In recent years, ITC has been focusing on diversifying its business portfolio and has been investing in new areas such as hospitality, FMCG, agriculture, and e-commerce. These efforts have been paying off and the company’s stock price has been steadily rising over the past few years.
Overall, ITC has been one of India’s most successful stocks and has delivered solid returns to its shareholders over the years. The company’s focus on diversification, innovation, and customer satisfaction has enabled it to remain a top performer on the stock exchanges.
ITC Limited in recent news
- Key highlights from ITC’s Q1 results include a 17.5% increase in net profit, reaching ₹4,902 crore. Furthermore, the board’s decision to endorse a 25% stake acquisition in Maharaja Resort has been confirmed.
- In the latest updates on ITC stocks, the company reports a remarkable Profit After Tax (PAT) of Rs 19,191.66 crore, accompanied by a consistent Net Profit Compound Annual Growth Rate (CAGR) of 7.75%.
- ITC has joined the ranks as the seventh Indian company to surpass a market capitalization of Rs 6 lakh crore.
How to buy ITC Limited shares?
To buy shares of ITC Limited, you will need to open a trading account with a broker or with a depository participant. Once your account is opened, you can place a buy order for ITC Limited shares. The order will be executed at the best available market price, depending on the demand-supply situation. After the order is executed, the shares will be credited to your trading account and you can keep them as long as you wish or sell them as and when you want.
Some of the online trading platforms are:
| Zerodha | Click here |
| Upstox | Click here |
| Groww | Click here |
| AngelOne | Click here |
| ICICIDirect | Click here |
ITC Limited Share Price Prediction 2023 to 2030
ITC Limited Share Price Target 2023 is ₹452.34
| When | Maximum Price | Minimum Price |
| August 2023 | ₹433.50 | ₹394.09 |
| September 2023 | ₹443.47 | ₹403.16 |
| October 2023 | ₹430.55 | ₹391.41 |
| November 2023 | ₹439.16 | ₹399.24 |
| December 2023 | ₹452.34 | ₹376.95 |
The ITC share price prediction for 2023 shows a bullish trend with a growth percentage ranging from 7.5% to 27.7%. The highest price for the year is expected to be ₹452.34 in December 2023 and the lowest price is expected to be ₹430.55 in October2023.
This indicates a significant uptrend in the ITC share price throughout the year. The growth percentage of the company’s shares is expected to be in the double digits, making it a lucrative investment opportunity for investors. The year 2023 is expected to be a positive year for the company, with the maximum price showing a growth of 36.5% compared to the minimum price.
Investors can expect a stable and consistent uptrend in the ITC share price throughout the year 2023.
ITC Limited Share Price Target 2024
| When | Maximum Price | Minimum Price |
| January 2024 | ₹478.25 | ₹367.88 |
| February 2024 | ₹537.36 | ₹447.80 |
| March 2024 | ₹565.64 | ₹459.87 |
| April 2024 | ₹514.22 | ₹395.55 |
| May 2024 | ₹428.51 | ₹329.63 |
| June 2024 | ₹514.22 | ₹395.55 |
| July 2024 | ₹437.08 | ₹338.83 |
| August 2024 | ₹480.79 | ₹381.58 |
| September 2024 | ₹504.83 | ₹388.33 |
| October 2024 | ₹593.92 | ₹456.86 |
| November 2024 | ₹623.62 | ₹479.71 |
| December 2024 | ₹636.09 | ₹489.30 |
The ITC share price prediction for 2024 shows a continued bullish trend, with a growth percentage ranging from 14.3% to 35.6%. The highest price for the year is expected to be ₹636.09 in December 2024 and the lowest price is expected to be ₹428.51 in May 2024.
The year 2024 is expected to be another positive year for ITC, with the share price expected to reach new heights. The growth percentage of the company’s shares is expected to be in the high double digits, making it a promising investment opportunity for investors.
The maximum price target for 2024 shows a growth of 47.3% compared to the minimum price target, indicating a consistent uptrend in the ITC share price.
ITC Limited Share Price Target 2025
| When | Maximum Price | Minimum Price |
| January 2025 | ₹648.81 | ₹499.09 |
| February 2025 | ₹682.96 | ₹525.35 |
| March 2025 | ₹717.11 | ₹551.62 |
| April 2025 | ₹640.27 | ₹492.52 |
| May 2025 | ₹582.07 | ₹447.74 |
| June 2025 | ₹640.27 | ₹492.52 |
| July 2025 | ₹609.79 | ₹469.07 |
| August 2025 | ₹635.19 | ₹488.61 |
| September 2025 | ₹666.95 | ₹513.04 |
| October 2025 | ₹706.97 | ₹543.82 |
| November 2025 | ₹756.46 | ₹581.89 |
| December 2025 | ₹771.59 | ₹593.53 |
The table shows a continued uptrend, with a growth percentage ranging from 10.2% to 21.2%. The highest price for the year is expected to be ₹771.59 in December 2025 and the lowest price is expected to be ₹582.07 in May 2025. The year 2025 is expected to bring further growth for ITC, with the share price expected to reach new heights. The growth percentage of the company’s shares is expected to be in the high single digits, making it an attractive investment opportunity for investors. The maximum price target for 2025 shows a growth of 31.3% compared to the minimum price target, indicating a consistent bullish trend in the ITC share price. Investors can expect a stable and profitable investment in ITC shares in the year 2025.
ITC Limited Share Price Prediction 2026-2030
| Year | Maximum Price | Minimum Price |
| 2026 | ₹540.11 | ₹378.08 |
| 2027 | ₹459.09 | ₹321.37 |
| 2028 | ₹826.37 | ₹578.46 |
| 2029 | ₹1,697.49 | ₹1,188.24 |
| 2030 | ₹1,890.39 | ₹1,323.27 |
The ITC share price prediction for 2026 to 2030 shows a mix of bullish and bearish trends, with growth percentages ranging from -25.9% to 62.8%.
The year 2026 is expected to have the lowest growth, with a maximum price target of ₹540.11 and a minimum price target of ₹378.08. However, the year 2028 is expected to show significant growth with a maximum price target of ₹826.37 and a minimum price target of ₹578.46.
The year 2030 is expected to be the most profitable, with a maximum price target of ₹1,890.39 and a minimum price target of ₹1,323.27, a growth of 42.9%. This trend shows a strong and consistent growth for ITC in the coming years, making it a promising investment opportunity for investors.
The ITC share price is expected to reach new heights in the coming decade, with the company’s strategic plans and acquisition of Sproutlife Foods ‘Yoga Bar’ likely to contribute to this growth. Investors should consider investing in ITC shares in the long-term as it is expected to yield good returns in the coming years.
ITC Limited Financial Condition: Last 5 years
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|
| Sales(Rs crore) | 48,340 | 49,388 | 49,257 | 60,645 | 70,919 |
| Expenses(Rs crore) | 29,802 | 30,044 | 32,193 | 40,021 | 45,215 |
| Oper. Profit(Rs crore) | 18,537 | 19,344 | 17,065 | 20,623 | 25,704 |
| OPM (%) | 38% | 39% | 35% | 34% | 36% |
| Other Income(Rs crore) | 2,080 | 2,417 | 2,577 | 1,910 | 2,098 |
| Interest(Rs crore) | 71 | 81 | 58 | 60 | 78 |
| Depreciation(Rs crore) | 1,397 | 1,645 | 1,646 | 1,732 | 1,809 |
| PBT(Rs crore) | 19,150 | 20,035 | 17,938 | 20,740 | 25,915 |
| Net Profit(Rs crore) | 12,836 | 15,593 | 13,383 | 15,503 | 19,477 |
| EPS (Rs) | 10.27 | 12.45 | 10.69 | 12.37 | 15.44 |
| Dividend Payout % | 56% | 82% | 101% | 93% | 100% |
Over the last five years, the financial journey of the company has showcased a trajectory of expansion and adaptability. The consistent increase in sales, from Rs 48,340 crore in fiscal year 2019 to an impressive Rs 70,919 crore in fiscal year 2023, underscores the company’s growth and market presence. This growth is balanced by a deliberate management of expenses, resulting in an ascending operating profit from Rs 18,537 crore to Rs 25,704 crore during the same period.
Despite variations in the operating profit margin (OPM %), the company has maintained profitability within the range of 34% to 39%. This robust performance is complemented by the steady rise in other income, though it witnessed a slight decline in fiscal year 2022. A noticeable highlight is the consistent dividend payout ratio, reaching 100% in fiscal year 2023, revealing the company’s commitment to rewarding its shareholders. The increase in net profit from Rs 12,836 crore to Rs 19,477 crore further cements the company’s financial prowess.
These financial indicators, including the rise in earnings per share (EPS) from Rs 10.27 to Rs 15.44, reflect the company’s strategic management and ability to capitalize on market dynamics while providing consistent returns to its shareholders.
FAQS
Will the share price of ITC Limited grow in 2023?
Yes, according to the trend the share price of ITC Limited will grow and reach₹452.34 by the December of 2023.
What is the price prediction for ITC Limited for 2030?
If everything goes fine for the company, the share price of ITC Limited might reach around ₹1,890.39 by the end of 2030.
What is the current market condition of ITC Limited Stock?
At the time of writing, the ITC Limited share price is trending at 332INR with a market capitalisation of 4.12 trillion INR.
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Points To Keep In Notice While Invsting In
ITC Limited Shares:
- The company maintains a nearly debt-free status.
- Demonstrating consistent financial performance, the company boasts a commendable 3-year Return on Equity (ROE) of 25.0%.
- A robust dividend payout ratio of 98.0% reflects the company’s commitment to rewarding its shareholders.
- The company’s efficient management is evidenced by the reduction of working capital requirements from 29.1 days to 20.1 days.
- The stock is currently trading at a valuation of 7.97 times its book value.
- However, the company has exhibited a lackluster sales growth of 10.3% over the past five years.
ITC Limited Share Price Target By Experts:
- Axis Securities suggests an advisable purchase of ITC shares, projecting a target price of Rs 540 as of 2nd August, 2023.
- Prabhudas Lilladher advocates an accumulation of ITC holdings and outlines a target price of Rs 478, based on their assessment dated 29th July, 2023.
- JM Financial recommends a buy approach for ITC shares, putting forth a maximum target share price of Rs 485 as of 16th August ,2023
- Motilal Oswal’s bullish sentiment towards ITC is evident through their buy recommendation, forecasting a share price target of Rs 485 as of 20th May,2023
Conclusion
In conclusion, based on the last five years of financial performance, ITC has shown steady growth in revenue and profit. With a maximum revenue growth of 60,644.54 in 2022 and a maximum net profit of 17,261.95 in 2021, the company seems to be on the right track. The price to earning ratio of ITC has also been attractive with a maximum of 23.88 in 2021 and a minimum of 19.59 in 2018, showing potential for growth in the future.
Additionally, ITC’s plan to acquire 100% of Sproutlife Foods ‘Yoga Bar’ also presents new growth opportunities for the company. Given these factors, it can be concluded that ITC shares could be a good investment opportunity for those looking to invest in the long term.
Considering the insights from various expert opinions and market analysis, ITC appears to be a subject of positive investor sentiment. With target price projections ranging from Rs 478 to Rs 540 by reputable entities like Prabhudas Lilladher, Axis Securities, JM Financial, and Motilal Oswal, it’s evident that the company holds potential for growth. These endorsements are reinforced by ITC’s track record and financial indicators, including a robust dividend payout ratio. However, it’s noteworthy that the company’s sales growth over the past five years has been relatively modest. Nonetheless, the convergence of positive outlooks from multiple sources indicates a favorable trajectory for ITC in the market.
Hello, I am Neha. I am currently pursuing B.Sc (Hons.) Computer Science from Hansraj College, University of Delhi. I am skilled in web content writing and my interest lies in the field of Data Analytics, Finance and Marketing.
